FFLV vs. ILCV
FFLV (Fidelity Fundamental Large Cap Value ETF) and ILCV (iShares Morningstar Value ETF) are both Large Cap Value Equities funds. FFLV is actively managed, while ILCV is passively managed. Over the past year, FFLV returned 27.22% vs 26.58% for ILCV. Their correlation of 0.91 suggests significant overlap in exposure. FFLV charges 0.38%/yr vs 0.04%/yr for ILCV.
Performance
FFLV vs. ILCV - Performance Comparison
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Returns By Period
In the year-to-date period, FFLV achieves a 11.22% return, which is significantly higher than ILCV's 7.75% return.
FFLV
- 1D
- -0.24%
- 1M
- 2.24%
- YTD
- 11.22%
- 6M
- 12.86%
- 1Y
- 27.22%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ILCV
- 1D
- -0.44%
- 1M
- 2.76%
- YTD
- 7.75%
- 6M
- 7.41%
- 1Y
- 26.58%
- 3Y*
- 18.61%
- 5Y*
- 11.42%
- 10Y*
- 11.68%
FFLV vs. ILCV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FFLV Fidelity Fundamental Large Cap Value ETF | 11.22% | 16.04% | 8.04% |
ILCV iShares Morningstar Value ETF | 7.75% | 18.79% | 12.50% |
Correlation
The correlation between FFLV and ILCV is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2024 | 0.91 |
The correlation between FFLV and ILCV has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.
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Return for Risk
FFLV vs. ILCV — Risk / Return Rank
FFLV
ILCV
FFLV vs. ILCV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Large Cap Value ETF (FFLV) and iShares Morningstar Value ETF (ILCV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| FFLV | ILCV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.50 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 4.08 | -0.30 |
| Martin ratioReturn relative to average drawdown | 14.71 | 16.87 | -2.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FFLV | ILCV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.41 | 2.72 | -0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.81 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.70 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.12 | 0.46 | +0.66 |
Drawdowns
FFLV vs. ILCV - Drawdown Comparison
The maximum FFLV drawdown since its inception was -16.71%, smaller than the maximum ILCV drawdown of -58.63%. Use the drawdown chart below to compare losses from any high point for FFLV and ILCV.
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Drawdown Indicators
| FFLV | ILCV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.71% | -58.63% | +41.92% |
Max Drawdown (1Y)Largest decline over 1 year | -7.24% | -6.55% | -0.69% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.95% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.58% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.53% | — |
Current DrawdownCurrent decline from peak | -0.27% | -0.60% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -3.00% | -9.32% | +6.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | 1.58% | +0.28% |
Volatility
FFLV vs. ILCV - Volatility Comparison
Fidelity Fundamental Large Cap Value ETF (FFLV) has a higher volatility of 2.79% compared to iShares Morningstar Value ETF (ILCV) at 2.01%. This indicates that FFLV's price experiences larger fluctuations and is considered to be riskier than ILCV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FFLV | ILCV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.79% | 2.01% | +0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 8.40% | 6.97% | +1.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.38% | 9.82% | +1.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.22% | 14.21% | +0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.22% | 16.66% | -2.44% |
FFLV vs. ILCV - Expense Ratio Comparison
FFLV has a 0.38% expense ratio, which is higher than ILCV's 0.04% expense ratio.
Dividends
FFLV vs. ILCV - Dividend Comparison
FFLV's dividend yield for the trailing twelve months is around 1.46%, less than ILCV's 1.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFLV Fidelity Fundamental Large Cap Value ETF | 1.46% | 1.60% | 1.46% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ILCV iShares Morningstar Value ETF | 1.63% | 1.77% | 1.99% | 2.27% | 2.32% | 2.01% | 2.96% | 2.70% | 2.93% | 2.32% | 2.76% | 3.01% |
Frequently Asked Questions
With a correlation of 0.90, FFLV and ILCV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FFLV has higher volatility (2.79%) compared to ILCV (2.01%). In terms of maximum drawdown, FFLV dropped -16.71% vs ILCV's -58.63%.
On 1-year performance, FFLV leads with 27.22% vs 26.58% for ILCV. On fees, ILCV is cheaper at 0.04% per year. On volatility, ILCV has been the lower-risk option at 2.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FFLV has performed better with a 27.22% return vs 26.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ILCV is cheaper with a 0.04% expense ratio, compared with 0.38% for FFLV.
ILCV has the higher dividend yield at 1.63%, compared with 1.46% for FFLV.
They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.38% for FFLV and 0.04% for ILCV.
ILCV currently has the higher Sharpe Ratio (2.72 vs 2.41), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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