FYEE vs. FELC

Last updated Jun 4, 2026

FYEE (Fidelity Yield Enhanced Equity ETF) and FELC (Fidelity Enhanced Large Cap Core ETF) are both exchange-traded funds - FYEE is a Derivative Income fund actively managed by Fidelity, while FELC is a Large Cap Growth Equities fund actively managed by Fidelity. Both are actively managed. Over the past year, FYEE returned 24.64% vs 28.58% for FELC. Their correlation of 0.94 suggests significant overlap in exposure. FYEE charges 0.28%/yr vs 0.18%/yr for FELC.

Performance

FYEE vs. FELC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Yield Enhanced Equity ETF (FYEE) 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, FYEE achieves a 7.03% return, which is significantly lower than FELC's 11.23% return.

FYEE

• 1D: -0.30%
• 1M: 3.22%
• YTD: 7.03%
• 6M: 8.52%
• 1Y: 24.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FELC

• 1D: -0.59%
• 1M: 5.59%
• YTD: 11.23%
• 6M: 11.57%
• 1Y: 28.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FYEE vs. FELC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FYEE Fidelity Yield Enhanced Equity ETF	7.03%	15.76%	13.20%
FELC Fidelity Enhanced Large Cap Core ETF	11.23%	17.09%	13.62%

Correlation

The correlation between FYEE and FELC is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Apr 12, 2024	0.94

The correlation between FYEE and FELC has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

FYEE vs. FELC — Risk / Return Rank

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

FYEE

FYEE Risk / Return Rank: 77
FYEE Sharpe Ratio Rank: 78
FYEE Sortino Ratio Rank: 76
FYEE Omega Ratio Rank: 84
FYEE Calmar Ratio Rank: 66
FYEE Martin Ratio Rank: 83

FELC

FELC Risk / Return Rank: 70
FELC Sharpe Ratio Rank: 72
FELC Sortino Ratio Rank: 71
FELC Omega Ratio Rank: 71
FELC Calmar Ratio Rank: 63
FELC Martin Ratio Rank: 75

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.

FYEE vs. FELC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Yield Enhanced Equity ETF (FYEE) 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.

	FYEE	FELC	Difference
Sharpe ratio: Return per unit of total volatility	2.57	2.41	+0.16
Sortino ratio: Return per unit of downside risk	3.47	3.29	+0.17
Omega ratio: Gain probability vs. loss probability	1.52	1.44	+0.08
Calmar ratio: Return relative to maximum drawdown	3.35	3.16	+0.19
Martin ratio: Return relative to average drawdown	17.14	14.66	+2.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FYEE vs. FELC - Sharpe Ratio Comparison

The current FYEE Sharpe Ratio is 2.57, which is comparable to the FELC Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of FYEE 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

	FYEE	FELC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	2.41	+0.16
Sharpe Ratio (All Time) Calculated using the full available price history	1.24	1.59	-0.35

Drawdowns

FYEE vs. FELC - Drawdown Comparison

The maximum FYEE drawdown since its inception was -18.79%, roughly equal to the maximum FELC drawdown of -18.59%. Use the drawdown chart below to compare losses from any high point for FYEE and FELC.

Drawdown Indicators

	FYEE	FELC	Difference
Max Drawdown Largest peak-to-trough decline	-18.79%	-18.59%	-0.20%
Max Drawdown (1Y) Largest decline over 1 year	-7.39%	-9.09%	+1.70%
Current Drawdown Current decline from peak	-0.30%	-0.59%	+0.29%
Average Drawdown Average peak-to-trough decline	-2.25%	-1.91%	-0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	1.95%	-0.51%

Volatility

FYEE vs. FELC - Volatility Comparison

The current volatility for Fidelity Yield Enhanced Equity ETF (FYEE) is 1.43%, while Fidelity Enhanced Large Cap Core ETF (FELC) has a volatility of 2.78%. This indicates that FYEE 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

	FYEE	FELC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.43%	2.78%	-1.35%
Volatility (6M) Calculated over the trailing 6-month period	7.26%	8.93%	-1.67%
Volatility (1Y) Calculated over the trailing 1-year period	9.64%	11.90%	-2.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.84%	15.17%	-1.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.84%	15.17%	-1.33%

FYEE vs. FELC - Expense Ratio Comparison

FYEE has a 0.28% expense ratio, which is higher than FELC's 0.18% expense ratio.

Dividends

FYEE vs. FELC - Dividend Comparison

FYEE's dividend yield for the trailing twelve months is around 7.57%, more than FELC's 0.85% yield.

Position	TTM	2025	2024	2023
FELC Fidelity Enhanced Large Cap Core ETF	0.85%	0.92%	1.03%	0.04%
FYEE Fidelity Yield Enhanced Equity ETF	7.57%	7.08%	5.45%	0.00%

Frequently Asked Questions

Can I hold both FYEE and FELC in my portfolio?

With a correlation of 0.95, FYEE and FELC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FYEE or FELC?

FELC has higher volatility (2.78%) compared to FYEE (1.43%). In terms of maximum drawdown, FYEE dropped -18.79% vs FELC's -18.59%.

Which ETF is better, FYEE or FELC?

On 1-year performance, FELC leads with 28.58% vs 24.64% for FYEE. On fees, FELC is cheaper at 0.18% per year. On volatility, FYEE has been the lower-risk option at 1.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FYEE or FELC?

Over the 1-year period, FELC has performed better with a 28.58% return vs 24.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FYEE or FELC?

FELC is cheaper with a 0.18% expense ratio, compared with 0.28% for FYEE.

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

FYEE has the higher dividend yield at 7.57%, compared with 0.85% for FELC.

What is the main difference between FYEE and FELC?

FYEE is categorized as Derivative Income, while FELC is Large Cap Growth Equities. Their fees differ too: 0.28% for FYEE and 0.18% for FELC.

Which has better risk-adjusted returns?

FYEE currently has the higher Sharpe Ratio (2.57 vs 2.41), 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.