FLTB vs. FELC

Last updated Jun 5, 2026

FLTB (Fidelity Limited Term Bond ETF) and FELC (Fidelity Enhanced Large Cap Core ETF) are both exchange-traded funds - FLTB is a Short-Term Bond fund actively managed by Fidelity, while FELC is a Large Cap Blend Equities fund actively managed by Fidelity. Both are actively managed. Over the past year, FLTB returned 4.37% vs 28.95% for FELC. At a 0.14 correlation, their price movements are largely independent. FLTB charges 0.25%/yr vs 0.18%/yr for FELC.

Performance

FLTB vs. FELC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Limited Term Bond ETF (FLTB) and Fidelity Enhanced Large Cap Core ETF (FELC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLTB achieves a 0.84% return, which is significantly lower than FELC's 11.52% return.

FLTB

• 1D: 0.03%
• 1M: 0.30%
• YTD: 0.84%
• 6M: 1.18%
• 1Y: 4.37%
• 3Y*: 5.52%
• 5Y*: 2.26%
• 10Y*: 2.47%

FELC

• 1D: 0.26%
• 1M: 4.92%
• YTD: 11.52%
• 6M: 11.63%
• 1Y: 28.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLTB vs. FELC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FLTB Fidelity Limited Term Bond ETF	0.84%	6.60%	5.14%	2.60%
FELC Fidelity Enhanced Large Cap Core ETF	11.52%	17.09%	25.25%	5.68%

Correlation

The correlation between FLTB and FELC is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (All Time) Calculated using the full available price history since Nov 21, 2023	0.14

FLTB vs. FELC - Sectors Allocation Comparison

Sectors	FLTB	FELC
Technology	0.0%	38.2%
Financial Services	0.0%	12.2%
Basic Materials	-	1.5%
Communication Services	-	12.4%
Consumer Cyclical	-	9.8%
Consumer Defensive	-	2.8%
Energy	-	3.7%
Healthcare	-	7.4%
Industrials	-	9.6%
Real Estate	-	1.0%
Utilities	-	1.3%

Return for Risk

FLTB vs. FELC — Risk / Return Rank

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

FLTB

FLTB Risk / Return Rank: 66
FLTB Sharpe Ratio Rank: 64
FLTB Sortino Ratio Rank: 72
FLTB Omega Ratio Rank: 66
FLTB Calmar Ratio Rank: 60
FLTB Martin Ratio Rank: 68

FELC

FELC Risk / Return Rank: 74
FELC Sharpe Ratio Rank: 76
FELC Sortino Ratio Rank: 75
FELC Omega Ratio Rank: 75
FELC Calmar Ratio Rank: 65
FELC Martin Ratio Rank: 78

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.

FLTB vs. FELC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Limited Term Bond ETF (FLTB) and Fidelity Enhanced Large Cap Core ETF (FELC). 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.

	FLTB	FELC	Difference
Sharpe ratio: Return per unit of total volatility	2.08	2.45	-0.36
Sortino ratio: Return per unit of downside risk	3.20	3.33	-0.13
Omega ratio: Gain probability vs. loss probability	1.39	1.44	-0.05
Calmar ratio: Return relative to maximum drawdown	2.88	3.20	-0.32
Martin ratio: Return relative to average drawdown	12.23	14.86	-2.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLTB vs. FELC - Sharpe Ratio Comparison

The current FLTB Sharpe Ratio is 2.08, which is comparable to the FELC Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of FLTB and FELC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FLTB	FELC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.08	2.45	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	1.60	-0.77

Drawdowns

FLTB vs. FELC - Drawdown Comparison

The maximum FLTB drawdown since its inception was -9.37%, smaller than the maximum FELC drawdown of -18.59%. Use the drawdown chart below to compare losses from any high point for FLTB and FELC.

Drawdown Indicators

	FLTB	FELC	Difference
Max Drawdown Largest peak-to-trough decline	-9.37%	-18.59%	+9.22%
Max Drawdown (1Y) Largest decline over 1 year	-1.52%	-9.09%	+7.57%
Max Drawdown (3Y) Largest decline over 3 years	-1.52%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.26%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-9.37%	—	—
Current Drawdown Current decline from peak	-0.26%	-0.33%	+0.07%
Average Drawdown Average peak-to-trough decline	-1.40%	-1.91%	+0.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	1.95%	-1.59%

Volatility

FLTB vs. FELC - Volatility Comparison

The current volatility for Fidelity Limited Term Bond ETF (FLTB) is 0.62%, while Fidelity Enhanced Large Cap Core ETF (FELC) has a volatility of 2.70%. This indicates that FLTB experiences smaller price fluctuations and is considered to be less risky than FELC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLTB	FELC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.62%	2.70%	-2.08%
Volatility (6M) Calculated over the trailing 6-month period	1.63%	8.93%	-7.30%
Volatility (1Y) Calculated over the trailing 1-year period	2.13%	11.89%	-9.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.80%	15.16%	-12.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.94%	15.16%	-12.22%

FLTB vs. FELC - Expense Ratio Comparison

FLTB has a 0.25% expense ratio, which is higher than FELC's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FLTB vs. FELC - Dividend Comparison

FLTB's dividend yield for the trailing twelve months is around 4.36%, more than FELC's 0.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FELC Fidelity Enhanced Large Cap Core ETF	0.85%	0.92%	1.03%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FLTB Fidelity Limited Term Bond ETF	4.36%	4.31%	4.11%	3.20%	1.63%	0.89%	1.56%	2.67%	2.50%	1.78%	1.59%	1.63%

Frequently Asked Questions

Can I hold both FLTB and FELC in my portfolio?

FLTB and FELC have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLTB or FELC?

FELC has higher volatility (2.70%) compared to FLTB (0.62%). In terms of maximum drawdown, FLTB dropped -9.37% vs FELC's -18.59%.

Which ETF is better, FLTB or FELC?

On 1-year performance, FELC leads with 28.95% vs 4.37% for FLTB. On fees, FELC is cheaper at 0.18% per year. On volatility, FLTB has been the lower-risk option at 0.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLTB or FELC?

Over the 1-year period, FELC has performed better with a 28.95% return vs 4.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLTB or FELC?

FELC is cheaper with a 0.18% expense ratio, compared with 0.25% for FLTB.

Which ETF pays a higher dividend yield, FLTB or FELC?

FLTB has the higher dividend yield at 4.36%, compared with 0.85% for FELC.

What is the main difference between FLTB and FELC?

FLTB is categorized as Short-Term Bond, while FELC is Large Cap Blend Equities. Their fees differ too: 0.25% for FLTB and 0.18% for FELC.

Which has better risk-adjusted returns?

FELC currently has the higher Sharpe Ratio (2.45 vs 2.08), 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.