VLUE vs. FELV

Last updated Jul 17, 2026

VLUE (iShares MSCI USA Value Factor ETF) and FELV (Fidelity Enhanced Large Cap Value ETF) are both Large Cap Value Equities funds. VLUE is passively managed, while FELV is actively managed. Over the past year, VLUE returned 70.80% vs 32.28% for FELV. Their correlation of 0.87 suggests significant overlap in exposure. VLUE charges 0.15%/yr vs 0.18%/yr for FELV.

Performance

VLUE vs. FELV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Value Factor ETF (VLUE) and Fidelity Enhanced Large Cap Value ETF (FELV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VLUE achieves a 39.99% return, which is significantly higher than FELV's 20.10% return.

VLUE

• 1D: -0.70%
• 1M: -4.40%
• 6M: 32.45%
• YTD: 39.99%
• 1Y: 70.80%
• 3Y*: 29.31%
• 5Y*: 16.23%
• 10Y*: 14.34%

FELV

• 1D: 0.54%
• 1M: 2.98%
• 6M: 16.57%
• YTD: 20.10%
• 1Y: 32.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VLUE vs. FELV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VLUE iShares MSCI USA Value Factor ETF	39.99%	32.67%	7.25%	9.35%
FELV Fidelity Enhanced Large Cap Value ETF	20.10%	15.80%	15.89%	7.49%

Correlation

The correlation between VLUE and FELV is 0.80, 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	0.80
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023	0.87

The correlation between VLUE and FELV has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.

VLUE vs. FELV - Sectors Allocation Comparison

Sectors	VLUE	FELV
Technology	40.2%	21.0%
Financial Services	11.2%	18.6%
Consumer Cyclical	10.1%	7.7%
Communication Services	8.9%	8.6%
Industrials	8.3%	13.6%
Healthcare	8.2%	10.3%
Consumer Defensive	4.4%	4.7%
Energy	3.3%	5.8%
Utilities	2.1%	3.3%
Real Estate	1.9%	3.1%
Basic Materials	1.3%	3.5%

Return for Risk

VLUE vs. FELV — Risk / Return Rank

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

VLUE

VLUE Risk / Return Rank: 96
VLUE Sharpe Ratio Rank: 97
VLUE Sortino Ratio Rank: 96
VLUE Omega Ratio Rank: 95
VLUE Calmar Ratio Rank: 97
VLUE Martin Ratio Rank: 96

FELV

FELV Risk / Return Rank: 94
FELV Sharpe Ratio Rank: 95
FELV Sortino Ratio Rank: 94
FELV Omega Ratio Rank: 94
FELV Calmar Ratio Rank: 92
FELV Martin Ratio Rank: 94

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.

VLUE vs. FELV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Value Factor ETF (VLUE) and Fidelity Enhanced Large Cap Value ETF (FELV). 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.

	VLUE	FELV	Difference
Sharpe ratio: Return per unit of total volatility	3.58	2.92	+0.66
Sortino ratio: Return per unit of downside risk	4.60	4.04	+0.57
Omega ratio: Gain probability vs. loss probability	1.60	1.53	+0.07
Calmar ratio: Return relative to maximum drawdown	7.87	4.73	+3.14
Martin ratio: Return relative to average drawdown	28.94	20.41	+8.53

VLUE vs. FELV - Sharpe Ratio Comparison

The current VLUE Sharpe Ratio is 3.58, which is comparable to the FELV Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of VLUE and FELV, 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

VLUE vs. FELV - Drawdown Comparison

The maximum VLUE drawdown since its inception was -39.47%, which is greater than FELV's maximum drawdown of -16.08%. Use the drawdown chart below to compare losses from any high point for VLUE and FELV.

Drawdown Indicators

	VLUE	FELV	Difference
Max Drawdown Largest peak-to-trough decline	-39.47%	-16.08%	-23.39%
Max Drawdown (1Y) Largest decline over 1 year	-9.04%	-6.85%	-2.19%
Max Drawdown (3Y) Largest decline over 3 years	-17.89%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.12%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.47%	—	—
Current Drawdown Current decline from peak	-7.18%	0.00%	-7.18%
Average Drawdown Average peak-to-trough decline	-5.99%	-2.00%	-3.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.45%	1.59%	+0.86%

Volatility

VLUE vs. FELV - Volatility Comparison

iShares MSCI USA Value Factor ETF (VLUE) has a higher volatility of 8.04% compared to Fidelity Enhanced Large Cap Value ETF (FELV) at 2.79%. This indicates that VLUE's price experiences larger fluctuations and is considered to be riskier than FELV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VLUE	FELV	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.04%	2.79%	+5.25%
Volatility (6M) Calculated over the trailing 6-month period	17.05%	8.52%	+8.53%
Volatility (1Y) Calculated over the trailing 1-year period	19.88%	11.10%	+8.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.28%	13.38%	+4.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.98%	13.38%	+6.60%

VLUE vs. FELV - Expense Ratio Comparison

VLUE has a 0.15% expense ratio, which is lower than FELV's 0.18% 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

VLUE vs. FELV - Dividend Comparison

VLUE's dividend yield for the trailing twelve months is around 1.48%, more than FELV's 1.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FELV Fidelity Enhanced Large Cap Value ETF	1.44%	1.67%	2.02%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VLUE iShares MSCI USA Value Factor ETF	1.48%	2.11%	2.73%	2.66%	3.18%	2.22%	2.42%	2.61%	2.70%	2.14%	2.07%	2.39%

Frequently Asked Questions

Can I hold both VLUE and FELV in my portfolio?

VLUE and FELV have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VLUE or FELV?

VLUE has higher volatility (8.04%) compared to FELV (2.79%). In terms of maximum drawdown, VLUE dropped -39.47% vs FELV's -16.08%.

Which ETF is better, VLUE or FELV?

On 1-year performance, VLUE leads with 70.80% vs 32.28% for FELV. On fees, VLUE is cheaper at 0.15% per year. On volatility, FELV has been the lower-risk option at 2.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VLUE or FELV?

Over the 1-year period, VLUE has performed better with a 70.80% return vs 32.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VLUE or FELV?

VLUE is cheaper with a 0.15% expense ratio, compared with 0.18% for FELV.

Which ETF pays a higher dividend yield, VLUE or FELV?

VLUE has the higher dividend yield at 1.48%, compared with 1.44% for FELV.

What is the main difference between VLUE and FELV?

They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.15% for VLUE and 0.18% for FELV.

Which has better risk-adjusted returns?

VLUE currently has the higher Sharpe Ratio (3.58 vs 2.92), 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.