FIVA vs. FELG

Last updated Jun 24, 2026

FIVA (Fidelity International Value Factor ETF) and FELG (Fidelity Enhanced Large Cap Growth ETF) are both exchange-traded funds - FIVA is a Foreign Large Cap Equities fund tracking the Fidelity International Value Factor Index, while FELG is a Large Cap Growth Equities fund actively managed by Fidelity. FIVA is passively managed, while FELG is actively managed. Over the past year, FIVA returned 37.08% vs 20.00% for FELG. A 0.51 correlation means they provide meaningful diversification when combined. Both charge a 0.18% expense ratio.

Performance

FIVA vs. FELG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity International Value Factor ETF (FIVA) and Fidelity Enhanced Large Cap Growth ETF (FELG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIVA achieves a 13.25% return, which is significantly higher than FELG's 2.26% return.

FIVA

• 1D: -2.31%
• 1M: 1.70%
• YTD: 13.25%
• 6M: 13.22%
• 1Y: 37.08%
• 3Y*: 22.73%
• 5Y*: 13.11%
• 10Y*: —

FELG

• 1D: -1.73%
• 1M: -3.56%
• YTD: 2.26%
• 6M: 0.98%
• 1Y: 20.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FIVA vs. FELG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FIVA Fidelity International Value Factor ETF	13.25%	45.83%	2.53%	5.22%
FELG Fidelity Enhanced Large Cap Growth ETF	2.26%	18.44%	35.45%	4.37%

Correlation

The correlation between FIVA and FELG is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023	0.51

The correlation between FIVA and FELG has been stable across timeframes, ranging from 0.51 to 0.58 - a consistent structural relationship.

FIVA vs. FELG - Sectors Allocation Comparison

Sectors	FIVA	FELG
Financial Services	27.4%	4.4%
Industrials	16.5%	6.1%
Technology	15.2%	54.2%
Healthcare	8.0%	7.0%
Basic Materials	7.7%	0.0%
Consumer Cyclical	6.6%	11.4%
Consumer Defensive	5.2%	1.3%
Energy	4.9%	0.7%
Utilities	3.3%	1.0%
Communication Services	3.0%	12.2%
Real Estate	1.5%	0.1%

Return for Risk

FIVA vs. FELG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FIVA

FIVA Risk / Return Rank: 73
FIVA Sharpe Ratio Rank: 77
FIVA Sortino Ratio Rank: 76
FIVA Omega Ratio Rank: 73
FIVA Calmar Ratio Rank: 67
FIVA Martin Ratio Rank: 70

FELG

FELG Risk / Return Rank: 32
FELG Sharpe Ratio Rank: 35
FELG Sortino Ratio Rank: 34
FELG Omega Ratio Rank: 34
FELG Calmar Ratio Rank: 26
FELG Martin Ratio Rank: 30

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FIVA vs. FELG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity International Value Factor ETF (FIVA) and Fidelity Enhanced Large Cap Growth ETF (FELG). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FIVA	FELG	Difference
Sharpe ratio: Return per unit of total volatility	2.34	1.24	+1.10
Sortino ratio: Return per unit of downside risk	3.21	1.73	+1.48
Omega ratio: Gain probability vs. loss probability	1.41	1.22	+0.19
Calmar ratio: Return relative to maximum drawdown	3.18	1.24	+1.94
Martin ratio: Return relative to average drawdown	12.44	4.14	+8.30

FIVA vs. FELG - Sharpe Ratio Comparison

The current FIVA Sharpe Ratio is 2.34, which is higher than the FELG Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of FIVA and FELG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FIVA vs. FELG - Drawdown Comparison

The maximum FIVA drawdown since its inception was -39.76%, which is greater than FELG's maximum drawdown of -23.89%. Use the drawdown chart below to compare losses from any high point for FIVA and FELG.

Drawdown Indicators

	FIVA	FELG	Difference
Max Drawdown Largest peak-to-trough decline	-39.76%	-23.89%	-15.87%
Max Drawdown (1Y) Largest decline over 1 year	-11.71%	-16.17%	+4.46%
Max Drawdown (3Y) Largest decline over 3 years	-14.77%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.70%	—	—
Current Drawdown Current decline from peak	-2.31%	-6.32%	+4.01%
Average Drawdown Average peak-to-trough decline	-7.73%	-3.54%	-4.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	4.84%	-1.85%

Volatility

FIVA vs. FELG - Volatility Comparison

Fidelity International Value Factor ETF (FIVA) and Fidelity Enhanced Large Cap Growth ETF (FELG) have volatilities of 6.05% and 6.15%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIVA	FELG	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.05%	6.15%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	13.46%	12.66%	+0.80%
Volatility (1Y) Calculated over the trailing 1-year period	15.95%	16.29%	-0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.45%	20.00%	-3.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.95%	20.00%	-2.05%

FIVA vs. FELG - Expense Ratio Comparison

Both FIVA and FELG have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

FIVA vs. FELG - Dividend Comparison

FIVA's dividend yield for the trailing twelve months is around 2.66%, more than FELG's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FELG Fidelity Enhanced Large Cap Growth ETF	0.36%	0.38%	0.44%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%
FIVA Fidelity International Value Factor ETF	2.66%	2.68%	3.52%	3.63%	3.62%	3.76%	2.46%	3.61%	3.28%

Frequently Asked Questions

Can I hold both FIVA and FELG in my portfolio?

FIVA and FELG have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIVA or FELG?

FELG has higher volatility (6.15%) compared to FIVA (6.05%). In terms of maximum drawdown, FIVA dropped -39.76% vs FELG's -23.89%.

Which ETF is better, FIVA or FELG?

On 1-year performance, FIVA leads with 37.08% vs 20.00% for FELG. Both ETFs have the same 0.18% expense ratio. On volatility, FIVA has been the lower-risk option at 6.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FIVA or FELG?

Over the 1-year period, FIVA has performed better with a 37.08% return vs 20.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FIVA or FELG?

FIVA and FELG have the same expense ratio: 0.18% per year.

Which ETF pays a higher dividend yield, FIVA or FELG?

FIVA has the higher dividend yield at 2.66%, compared with 0.36% for FELG.

What is the main difference between FIVA and FELG?

FIVA is categorized as Foreign Large Cap Equities, while FELG is Large Cap Growth Equities.

Which has better risk-adjusted returns?

FIVA currently has the higher Sharpe Ratio (2.34 vs 1.24), 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.