FVAL vs. FUNL

Last updated Jun 4, 2026

FVAL (Fidelity Value Factor ETF) and FUNL (CornerCap Fundametrics Large-Cap ETF FUNL) are both Large Cap Value Equities funds. FVAL is passively managed, while FUNL is actively managed. Over the past 5 years, FVAL returned 12.53%/yr vs 9.42%/yr for FUNL. Their correlation of 0.89 suggests significant overlap in exposure. FVAL charges 0.15%/yr vs 0.50%/yr for FUNL.

Performance

FVAL vs. FUNL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Value Factor ETF (FVAL) and CornerCap Fundametrics Large-Cap ETF FUNL (FUNL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FVAL achieves a 11.14% return, which is significantly higher than FUNL's 5.66% return.

FVAL

• 1D: -0.59%
• 1M: 5.54%
• YTD: 11.14%
• 6M: 12.79%
• 1Y: 31.42%
• 3Y*: 20.96%
• 5Y*: 12.53%
• 10Y*: —

FUNL

• 1D: 0.00%
• 1M: 0.00%
• YTD: 5.66%
• 6M: 7.22%
• 1Y: 18.97%
• 3Y*: 16.53%
• 5Y*: 9.42%
• 10Y*: —

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

FVAL vs. FUNL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FVAL Fidelity Value Factor ETF	11.14%	19.56%	18.05%	23.10%	-14.40%	30.33%	13.01%
FUNL CornerCap Fundametrics Large-Cap ETF FUNL	5.66%	14.62%	15.55%	14.33%	-5.76%	25.93%	14.92%

Correlation

The correlation between FVAL and FUNL is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Aug 21, 2020	0.89

Over the past year, the correlation between FVAL and FUNL has dropped to 0.69 - well below their long-term average of 0.89, suggesting their price drivers have been diverging.

FVAL vs. FUNL - Sectors Allocation Comparison

Sectors	FVAL	FUNL
Technology	32.6%	14.6%
Financial Services	11.4%	19.3%
Consumer Cyclical	9.9%	6.5%
Communication Services	9.4%	5.8%
Healthcare	9.3%	15.3%
Industrials	8.1%	11.5%
Consumer Defensive	4.3%	7.0%
Energy	4.1%	7.6%
Real Estate	2.4%	4.5%
Basic Materials	1.9%	2.2%
Utilities	1.8%	5.0%

Return for Risk

FVAL vs. FUNL — Risk / Return Rank

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

FVAL

FVAL Risk / Return Rank: 79
FVAL Sharpe Ratio Rank: 82
FVAL Sortino Ratio Rank: 83
FVAL Omega Ratio Rank: 81
FVAL Calmar Ratio Rank: 70
FVAL Martin Ratio Rank: 79

FUNL

FUNL Risk / Return Rank: 80
FUNL Sharpe Ratio Rank: 67
FUNL Sortino Ratio Rank: 72
FUNL Omega Ratio Rank: 79
FUNL Calmar Ratio Rank: 87
FUNL Martin Ratio Rank: 92

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.

FVAL vs. FUNL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Value Factor ETF (FVAL) and CornerCap Fundametrics Large-Cap ETF FUNL (FUNL). 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.

	FVAL	FUNL	Difference
Sharpe ratio: Return per unit of total volatility	2.73	2.19	+0.54
Sortino ratio: Return per unit of downside risk	3.78	3.26	+0.53
Omega ratio: Gain probability vs. loss probability	1.49	1.47	+0.02
Calmar ratio: Return relative to maximum drawdown	3.54	5.01	-1.48
Martin ratio: Return relative to average drawdown	15.80	23.31	-7.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FVAL vs. FUNL - Sharpe Ratio Comparison

The current FVAL Sharpe Ratio is 2.73, which is comparable to the FUNL Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of FVAL and FUNL, 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

	FVAL	FUNL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.73	2.19	+0.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.63	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.95	-0.14

Drawdowns

FVAL vs. FUNL - Drawdown Comparison

The maximum FVAL drawdown since its inception was -37.26%, which is greater than FUNL's maximum drawdown of -19.35%. Use the drawdown chart below to compare losses from any high point for FVAL and FUNL.

Drawdown Indicators

	FVAL	FUNL	Difference
Max Drawdown Largest peak-to-trough decline	-37.26%	-19.35%	-17.91%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-3.83%	-5.09%
Max Drawdown (3Y) Largest decline over 3 years	-18.39%	-17.37%	-1.02%
Max Drawdown (5Y) Largest decline over 5 years	-23.42%	-19.35%	-4.07%
Current Drawdown Current decline from peak	-0.75%	-0.12%	-0.63%
Average Drawdown Average peak-to-trough decline	-4.58%	-3.54%	-1.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	0.82%	+1.17%

Volatility

FVAL vs. FUNL - Volatility Comparison

Fidelity Value Factor ETF (FVAL) has a higher volatility of 2.70% compared to CornerCap Fundametrics Large-Cap ETF FUNL (FUNL) at 0.00%. This indicates that FVAL's price experiences larger fluctuations and is considered to be riskier than FUNL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FVAL	FUNL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.70%	0.00%	+2.70%
Volatility (6M) Calculated over the trailing 6-month period	8.64%	5.24%	+3.40%
Volatility (1Y) Calculated over the trailing 1-year period	11.56%	8.82%	+2.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.48%	15.16%	+1.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.11%	15.29%	+2.82%

FVAL vs. FUNL - Expense Ratio Comparison

FVAL has a 0.15% expense ratio, which is lower than FUNL's 0.50% expense ratio.

Dividends

FVAL vs. FUNL - Dividend Comparison

FVAL's dividend yield for the trailing twelve months is around 1.49%, less than FUNL's 2.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FUNL CornerCap Fundametrics Large-Cap ETF FUNL	2.25%	2.10%	1.78%	1.69%	1.84%	1.55%	0.45%	0.00%	0.00%	0.00%	0.00%
FVAL Fidelity Value Factor ETF	1.49%	1.61%	1.60%	1.69%	1.79%	1.41%	1.61%	1.77%	2.06%	1.62%	0.45%

Frequently Asked Questions

Can I hold both FVAL and FUNL in my portfolio?

FVAL and FUNL have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FVAL or FUNL?

FVAL has higher volatility (2.70%) compared to FUNL (0.00%). In terms of maximum drawdown, FVAL dropped -37.26% vs FUNL's -19.35%.

Which ETF is better, FVAL or FUNL?

On 5-year performance, FVAL leads with 12.53% vs 9.42% for FUNL. On fees, FVAL is cheaper at 0.15% per year. On volatility, FUNL has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FVAL or FUNL?

Over the 5-year period, FVAL has performed better with a 12.53% return vs 9.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FVAL or FUNL?

FVAL is cheaper with a 0.15% expense ratio, compared with 0.50% for FUNL.

Which ETF pays a higher dividend yield, FVAL or FUNL?

FUNL has the higher dividend yield at 2.25%, compared with 1.49% for FVAL.

What is the main difference between FVAL and FUNL?

They also come from different issuers: Fidelity and CornerCap. Their fees differ too: 0.15% for FVAL and 0.50% for FUNL.

Which has better risk-adjusted returns?

FVAL currently has the higher Sharpe Ratio (2.73 vs 2.19), 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.