FLTB vs. FELG

Last updated Jun 26, 2026

FLTB (Fidelity Limited Term Bond ETF) and FELG (Fidelity Enhanced Large Cap Growth ETF) are both exchange-traded funds - FLTB is a Short-Term Bond fund actively managed by Fidelity, while FELG is a Large Cap Growth Equities fund actively managed by Fidelity. Both are actively managed. Over the past year, FLTB returned 4.10% vs 16.58% for FELG. At a 0.10 correlation, their price movements are largely independent. FLTB charges 0.25%/yr vs 0.18%/yr for FELG.

Performance

FLTB vs. FELG - 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 Growth ETF (FELG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FLTB having a 1.10% return and FELG slightly higher at 1.13%.

FLTB

• 1D: 0.04%
• 1M: 0.48%
• YTD: 1.10%
• 6M: 1.27%
• 1Y: 4.10%
• 3Y*: 5.64%
• 5Y*: 2.35%
• 10Y*: 2.44%

FELG

• 1D: -1.13%
• 1M: -5.21%
• YTD: 1.13%
• 6M: -0.30%
• 1Y: 16.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLTB vs. FELG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FLTB Fidelity Limited Term Bond ETF	1.10%	6.60%	5.14%	2.63%
FELG Fidelity Enhanced Large Cap Growth ETF	1.13%	18.44%	35.45%	4.37%

Correlation

The correlation between FLTB and FELG 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 20, 2023	0.10

Return for Risk

FLTB vs. FELG — Risk / Return Rank

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

FLTB

FLTB Risk / Return Rank: 71
FLTB Sharpe Ratio Rank: 71
FLTB Sortino Ratio Rank: 78
FLTB Omega Ratio Rank: 73
FLTB Calmar Ratio Rank: 63
FLTB Martin Ratio Rank: 70

FELG

FELG Risk / Return Rank: 28
FELG Sharpe Ratio Rank: 31
FELG Sortino Ratio Rank: 30
FELG Omega Ratio Rank: 29
FELG Calmar Ratio Rank: 24
FELG Martin Ratio Rank: 27

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. FELG - 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 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.

	FLTB	FELG	Difference
Sharpe ratio: Return per unit of total volatility	1.97	1.03	+0.94
Sortino ratio: Return per unit of downside risk	3.03	1.47	+1.56
Omega ratio: Gain probability vs. loss probability	1.37	1.18	+0.19
Calmar ratio: Return relative to maximum drawdown	2.70	1.03	+1.67
Martin ratio: Return relative to average drawdown	11.27	3.40	+7.87

FLTB vs. FELG - Sharpe Ratio Comparison

The current FLTB Sharpe Ratio is 1.97, which is higher than the FELG Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of FLTB 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

FLTB vs. FELG - Drawdown Comparison

The maximum FLTB drawdown since its inception was -9.37%, smaller than the maximum FELG drawdown of -23.89%. Use the drawdown chart below to compare losses from any high point for FLTB and FELG.

Drawdown Indicators

	FLTB	FELG	Difference
Max Drawdown Largest peak-to-trough decline	-9.37%	-23.89%	+14.52%
Max Drawdown (1Y) Largest decline over 1 year	-1.52%	-16.17%	+14.65%
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	0.00%	-7.36%	+7.36%
Average Drawdown Average peak-to-trough decline	-1.39%	-3.55%	+2.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	4.88%	-4.52%

Volatility

FLTB vs. FELG - Volatility Comparison

The current volatility for Fidelity Limited Term Bond ETF (FLTB) is 0.59%, while Fidelity Enhanced Large Cap Growth ETF (FELG) has a volatility of 6.16%. This indicates that FLTB experiences smaller price fluctuations and is considered to be less risky than FELG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLTB	FELG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.59%	6.16%	-5.57%
Volatility (6M) Calculated over the trailing 6-month period	1.66%	12.62%	-10.96%
Volatility (1Y) Calculated over the trailing 1-year period	2.09%	16.23%	-14.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.81%	19.99%	-17.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.94%	19.99%	-17.05%

FLTB vs. FELG - Expense Ratio Comparison

FLTB has a 0.25% expense ratio, which is higher than FELG'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. FELG - Dividend Comparison

FLTB's dividend yield for the trailing twelve months is around 4.35%, more than FELG's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FELG Fidelity Enhanced Large Cap Growth ETF	0.37%	0.38%	0.44%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FLTB Fidelity Limited Term Bond ETF	4.35%	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 FELG in my portfolio?

FLTB and FELG 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 FELG?

FELG has higher volatility (6.16%) compared to FLTB (0.59%). In terms of maximum drawdown, FLTB dropped -9.37% vs FELG's -23.89%.

Which ETF is better, FLTB or FELG?

On 1-year performance, FELG leads with 16.58% vs 4.10% for FLTB. On fees, FELG is cheaper at 0.18% per year. On volatility, FLTB has been the lower-risk option at 0.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLTB or FELG?

Over the 1-year period, FELG has performed better with a 16.58% return vs 4.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLTB or FELG?

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

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

FLTB has the higher dividend yield at 4.35%, compared with 0.37% for FELG.

What is the main difference between FLTB and FELG?

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

Which has better risk-adjusted returns?

FLTB currently has the higher Sharpe Ratio (1.97 vs 1.03), 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.