FSST vs. FELC

Last updated Jun 25, 2026

FSST (Fidelity Sustainability U.S. Equity ETF) and FELC (Fidelity Enhanced Large Cap Core ETF) are both exchange-traded funds - FSST is a Sustainable fund tracking the Russell 3000, while FELC is a Large Cap Blend Equities fund actively managed by Fidelity. FSST is passively managed, while FELC is actively managed. A 0.77 correlation means they provide meaningful diversification when combined. FSST charges 0.59%/yr vs 0.18%/yr for FELC.

Performance

FSST vs. FELC - Performance Comparison

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

Returns By Period

FSST

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FELC

• 1D: -0.07%
• 1M: -0.99%
• YTD: 8.57%
• 6M: 7.25%
• 1Y: 23.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FSST vs. FELC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FSST Fidelity Sustainability U.S. Equity ETF	0.00%	15.40%	21.40%	7.55%
FELC Fidelity Enhanced Large Cap Core ETF	8.57%	17.09%	25.25%	6.06%

Correlation

The correlation between FSST and FELC is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023	0.77

Over the past year, the correlation between FSST and FELC has dropped to 0.45 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.

FSST vs. FELC - Sectors Allocation Comparison

Sectors	FSST	FELC
Technology	29.6%	40.8%
Industrials	13.0%	9.1%
Financial Services	12.1%	12.3%
Communication Services	11.7%	11.4%
Consumer Cyclical	11.5%	10.0%
Healthcare	10.2%	7.4%
Consumer Defensive	4.6%	2.5%
Basic Materials	3.4%	1.4%
Energy	1.9%	2.8%
Real Estate	1.3%	1.1%
Utilities	0.9%	1.3%

Return for Risk

FSST vs. FELC — Risk / Return Rank

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

FSST

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FELC

FELC Risk / Return Rank: 62
FELC Sharpe Ratio Rank: 62
FELC Sortino Ratio Rank: 60
FELC Omega Ratio Rank: 61
FELC Calmar Ratio Rank: 58
FELC Martin Ratio Rank: 69

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.

FSST vs. FELC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainability U.S. Equity ETF (FSST) 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.

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.

	FSST	FELC	Difference
Sharpe ratio: Return per unit of total volatility	—	1.85	—
Sortino ratio: Return per unit of downside risk	—	2.52	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	2.55	—
Martin ratio: Return relative to average drawdown	—	11.33	—

Drawdowns

Drawdown Indicators

	FSST	FELC	Difference
Max Drawdown Largest peak-to-trough decline	—	-18.59%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-9.09%	—
Current Drawdown Current decline from peak	—	-2.97%	—
Average Drawdown Average peak-to-trough decline	—	-1.91%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.04%	—

Volatility

Volatility by Period

	FSST	FELC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.94%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.87%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	12.60%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	15.28%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	15.28%	—

FSST vs. FELC - Expense Ratio Comparison

FSST has a 0.59% expense ratio, which is higher than FELC's 0.18% expense ratio.

Dividends

FSST vs. FELC - Dividend Comparison

FSST has not paid dividends to shareholders, while FELC's dividend yield for the trailing twelve months is around 0.86%.

Position	TTM	2025	2024	2023	2022	2021
FELC Fidelity Enhanced Large Cap Core ETF	0.86%	0.92%	1.03%	0.04%	0.00%	0.00%
FSST Fidelity Sustainability U.S. Equity ETF	0.10%	0.19%	2.01%	0.68%	1.00%	0.34%

Frequently Asked Questions

Can I hold both FSST and FELC in my portfolio?

FSST and FELC have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FSST or FELC?

On fees, FELC is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FSST or FELC?

FELC is cheaper with a 0.18% expense ratio, compared with 0.59% for FSST.

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

FELC has the higher dividend yield at 0.86%, compared with 0.10% for FSST.

What is the main difference between FSST and FELC?

FSST is categorized as Sustainable, while FELC is Large Cap Blend Equities. Their fees differ too: 0.59% for FSST and 0.18% for FELC.