FLRG vs. VFMF

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity U.S. Multifactor ETF (FLRG) and Vanguard U.S. Multifactor ETF (VFMF).

FLRG and VFMF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FLRG is a passively managed fund by Fidelity that tracks the performance of the Fidelity U.S. Multifactor Index. It was launched on Sep 15, 2020. VFMF is managed by Vanguard. It was launched on Feb 13, 2018.

Performance

FLRG vs. VFMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity U.S. Multifactor ETF (FLRG) and Vanguard U.S. Multifactor ETF (VFMF). The values are adjusted to include any dividend payments, if applicable.

FLRG vs. VFMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FLRG Fidelity U.S. Multifactor ETF	-2.67%	13.92%	23.36%	18.31%	-10.98%	29.36%	9.53%
VFMF Vanguard U.S. Multifactor ETF	3.32%	17.38%	15.60%	18.52%	-5.70%	30.05%	17.46%

Returns By Period

In the year-to-date period, FLRG achieves a -2.67% return, which is significantly lower than VFMF's 3.32% return.

FLRG

• 1D: 2.17%
• 1M: -3.76%
• YTD: -2.67%
• 6M: -3.46%
• 1Y: 12.61%
• 3Y*: 15.88%
• 5Y*: 11.55%
• 10Y*: —

VFMF

• 1D: 1.80%
• 1M: -4.04%
• YTD: 3.32%
• 6M: 8.39%
• 1Y: 24.79%
• 3Y*: 18.13%
• 5Y*: 11.66%
• 10Y*: —

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

FLRG vs. VFMF - Expense Ratio Comparison

FLRG has a 0.29% expense ratio, which is higher than VFMF's 0.18% expense ratio.

FLRG

Fidelity U.S. Multifactor ETF

VFMF

Vanguard U.S. Multifactor ETF

Return for Risk

FLRG vs. VFMF — Risk / Return Rank

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

FLRG

FLRG Risk / Return Rank: 53
FLRG Sharpe Ratio Rank: 46
FLRG Sortino Ratio Rank: 49
FLRG Omega Ratio Rank: 51
FLRG Calmar Ratio Rank: 55
FLRG Martin Ratio Rank: 64

VFMF

VFMF Risk / Return Rank: 78
VFMF Sharpe Ratio Rank: 76
VFMF Sortino Ratio Rank: 77
VFMF Omega Ratio Rank: 78
VFMF Calmar Ratio Rank: 77
VFMF Martin Ratio Rank: 83

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.

FLRG vs. VFMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity U.S. Multifactor ETF (FLRG) and Vanguard U.S. Multifactor ETF (VFMF). 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.

	FLRG	VFMF	Difference
Sharpe ratio Return per unit of total volatility	0.81	1.33	-0.52
Sortino ratio Return per unit of downside risk	1.27	1.90	-0.64
Omega ratio Gain probability vs. loss probability	1.19	1.28	-0.10
Calmar ratio Return relative to maximum drawdown	1.33	1.93	-0.60
Martin ratio Return relative to average drawdown	6.15	8.90	-2.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLRG vs. VFMF - Sharpe Ratio Comparison

The current FLRG Sharpe Ratio is 0.81, which is lower than the VFMF Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of FLRG and VFMF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FLRG	VFMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.81	1.33	-0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.64	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	0.51	+0.40

Correlation

The correlation between FLRG and VFMF is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FLRG vs. VFMF - Dividend Comparison

FLRG's dividend yield for the trailing twelve months is around 1.51%, less than VFMF's 1.53% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FLRG Fidelity U.S. Multifactor ETF	1.51%	1.42%	1.42%	1.39%	1.62%	1.36%	1.47%	0.00%	0.00%
VFMF Vanguard U.S. Multifactor ETF	1.53%	1.54%	1.60%	1.78%	2.21%	1.39%	1.56%	1.61%	1.22%

Drawdowns

FLRG vs. VFMF - Drawdown Comparison

The maximum FLRG drawdown since its inception was -19.64%, smaller than the maximum VFMF drawdown of -41.34%. Use the drawdown chart below to compare losses from any high point for FLRG and VFMF.

Drawdown Indicators

	FLRG	VFMF	Difference
Max Drawdown Largest peak-to-trough decline	-19.64%	-41.34%	+21.70%
Max Drawdown (1Y) Largest decline over 1 year	-10.72%	-13.32%	+2.60%
Max Drawdown (5Y) Largest decline over 5 years	-19.64%	-20.57%	+0.93%
Current Drawdown Current decline from peak	-5.15%	-4.99%	-0.16%
Average Drawdown Average peak-to-trough decline	-3.84%	-5.85%	+2.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.32%	2.88%	-0.56%

Volatility

FLRG vs. VFMF - Volatility Comparison

The current volatility for Fidelity U.S. Multifactor ETF (FLRG) is 4.27%, while Vanguard U.S. Multifactor ETF (VFMF) has a volatility of 4.62%. This indicates that FLRG experiences smaller price fluctuations and is considered to be less risky than VFMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLRG	VFMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.27%	4.62%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	7.91%	10.05%	-2.14%
Volatility (1Y) Calculated over the trailing 1-year period	15.68%	18.79%	-3.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.22%	18.25%	-3.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.15%	21.31%	-6.16%