LGLV vs. FDLO

Last updated Jul 14, 2026

LGLV (SPDR SSGA US Large Cap Low Volatility Index ETF) and FDLO (Fidelity Low Volatility Factor ETF) are both Volatility Hedged Equity funds - LGLV tracks the State Street U.S. Large Cap Low Volatility Index while FDLO tracks the Fidelity U.S. Low Volatility Factor Index. Both are passively managed. Over the past 5 years, LGLV returned 8.45%/yr vs 9.29%/yr for FDLO. Their correlation of 0.87 suggests significant overlap in exposure. LGLV charges 0.12%/yr vs 0.15%/yr for FDLO.

Performance

LGLV vs. FDLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV) and Fidelity Low Volatility Factor ETF (FDLO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LGLV achieves a 6.57% return, which is significantly higher than FDLO's 6.18% return.

LGLV

• 1D: 0.66%
• 1M: 2.56%
• 6M: 4.07%
• YTD: 6.57%
• 1Y: 8.59%
• 3Y*: 11.89%
• 5Y*: 8.45%
• 10Y*: 11.11%

FDLO

• 1D: 0.23%
• 1M: 1.82%
• 6M: 4.29%
• YTD: 6.18%
• 1Y: 13.30%
• 3Y*: 13.54%
• 5Y*: 9.29%
• 10Y*: —

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

LGLV vs. FDLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LGLV SPDR SSGA US Large Cap Low Volatility Index ETF	6.57%	8.37%	16.22%	9.19%	-8.17%	27.95%	7.42%	30.83%	0.32%	17.84%
FDLO Fidelity Low Volatility Factor ETF	6.18%	11.77%	16.06%	16.38%	-10.38%	24.00%	12.19%	31.10%	-0.26%	20.44%

Correlation

The correlation between LGLV and FDLO 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	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016	0.87

The correlation between LGLV and FDLO shifts across timeframes, from 0.69 (1 year) to 0.87 (all time), reflecting how their relationship changes across market environments.

LGLV vs. FDLO - Sectors Allocation Comparison

Sectors	LGLV	FDLO
Industrials	18.4%	8.3%
Real Estate	17.6%	2.2%
Utilities	11.6%	2.2%
Financial Services	9.9%	12.1%
Technology	9.4%	35.5%
Consumer Cyclical	9.1%	10.1%
Healthcare	7.1%	9.6%
Consumer Defensive	5.8%	4.6%
Communication Services	4.3%	10.6%
Energy	3.5%	3.2%
Basic Materials	3.5%	1.7%

Return for Risk

LGLV vs. FDLO — Risk / Return Rank

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

LGLV

LGLV Risk / Return Rank: 29
LGLV Sharpe Ratio Rank: 30
LGLV Sortino Ratio Rank: 30
LGLV Omega Ratio Rank: 27
LGLV Calmar Ratio Rank: 31
LGLV Martin Ratio Rank: 27

FDLO

FDLO Risk / Return Rank: 53
FDLO Sharpe Ratio Rank: 55
FDLO Sortino Ratio Rank: 55
FDLO Omega Ratio Rank: 53
FDLO Calmar Ratio Rank: 47
FDLO Martin Ratio Rank: 56

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.

LGLV vs. FDLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV) and Fidelity Low Volatility Factor ETF (FDLO). 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.

	LGLV	FDLO	Difference
Sharpe ratio: Return per unit of total volatility	0.88	1.50	-0.61
Sortino ratio: Return per unit of downside risk	1.34	2.12	-0.78
Omega ratio: Gain probability vs. loss probability	1.15	1.27	-0.11
Calmar ratio: Return relative to maximum drawdown	1.26	1.87	-0.62
Martin ratio: Return relative to average drawdown	2.92	7.60	-4.68

LGLV vs. FDLO - Sharpe Ratio Comparison

The current LGLV Sharpe Ratio is 0.88, which is lower than the FDLO Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of LGLV and FDLO, 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

LGLV vs. FDLO - Drawdown Comparison

The maximum LGLV drawdown since its inception was -36.64%, which is greater than FDLO's maximum drawdown of -34.35%. Use the drawdown chart below to compare losses from any high point for LGLV and FDLO.

Drawdown Indicators

	LGLV	FDLO	Difference
Max Drawdown Largest peak-to-trough decline	-36.64%	-34.35%	-2.29%
Max Drawdown (1Y) Largest decline over 1 year	-6.86%	-7.13%	+0.27%
Max Drawdown (3Y) Largest decline over 3 years	-10.17%	-13.68%	+3.51%
Max Drawdown (5Y) Largest decline over 5 years	-17.49%	-19.23%	+1.74%
Max Drawdown (10Y) Largest decline over 10 years	-36.64%	—	—
Current Drawdown Current decline from peak	-1.28%	-0.06%	-1.22%
Average Drawdown Average peak-to-trough decline	-3.22%	-3.36%	+0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	1.75%	+1.19%

Volatility

LGLV vs. FDLO - Volatility Comparison

SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV) has a higher volatility of 3.62% compared to Fidelity Low Volatility Factor ETF (FDLO) at 3.01%. This indicates that LGLV's price experiences larger fluctuations and is considered to be riskier than FDLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LGLV	FDLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.62%	3.01%	+0.61%
Volatility (6M) Calculated over the trailing 6-month period	7.34%	6.87%	+0.47%
Volatility (1Y) Calculated over the trailing 1-year period	9.79%	8.94%	+0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.98%	13.10%	-0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.06%	15.46%	+0.60%

LGLV vs. FDLO - Expense Ratio Comparison

LGLV has a 0.12% expense ratio, which is lower than FDLO's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

LGLV vs. FDLO - Dividend Comparison

LGLV's dividend yield for the trailing twelve months is around 2.01%, more than FDLO's 1.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDLO Fidelity Low Volatility Factor ETF	1.40%	1.37%	1.40%	1.35%	1.49%	1.11%	1.38%	1.55%	1.76%	1.61%	0.55%	0.00%
LGLV SPDR SSGA US Large Cap Low Volatility Index ETF	2.01%	1.94%	1.93%	2.03%	1.95%	1.65%	1.98%	1.89%	2.09%	4.39%	2.54%	2.97%

Frequently Asked Questions

Can I hold both LGLV and FDLO in my portfolio?

LGLV and FDLO 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, LGLV or FDLO?

LGLV has higher volatility (3.62%) compared to FDLO (3.01%). In terms of maximum drawdown, LGLV dropped -36.64% vs FDLO's -34.35%.

Which ETF is better, LGLV or FDLO?

On 5-year performance, FDLO leads with 9.29% vs 8.45% for LGLV. On fees, LGLV is cheaper at 0.12% per year. On volatility, FDLO has been the lower-risk option at 3.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LGLV or FDLO?

Over the 5-year period, FDLO has performed better with a 9.29% return vs 8.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LGLV or FDLO?

LGLV is cheaper with a 0.12% expense ratio, compared with 0.15% for FDLO.

Which ETF pays a higher dividend yield, LGLV or FDLO?

LGLV has the higher dividend yield at 2.01%, compared with 1.40% for FDLO.

What is the main difference between LGLV and FDLO?

LGLV tracks State Street U.S. Large Cap Low Volatility Index, while FDLO tracks Fidelity U.S. Low Volatility Factor Index. They also come from different issuers: State Street and Fidelity. Their fees differ too: 0.12% for LGLV and 0.15% for FDLO.

Which has better risk-adjusted returns?

FDLO currently has the higher Sharpe Ratio (1.50 vs 0.88), 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.