DFNL vs FFLC
Davis Select Financial ETF vs Fidelity Fundamental Large Cap Core ETF
Which is better, DFNL or FFLC?
Each has led over a different period.
FFLC has a lower expense ratio. DFNL led over 3Y, FFLC over 1Y, 5Y and the full window. FFLC is less concentrated, with 41.9% of the fund in its ten largest positions against 56.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | DFNL | FFLC |
|---|---|---|
| Expense Ratio | 0.63% | 0.38%Best |
| AUM | $442M | $1.2B |
| Dividend Yield | 1.37% | 1.01% |
| Holdings | 90 | 216 |
| YTD Return | -0.91% | +9.90%Best |
| 1Y Return | +8.37% | +14.13%Best |
| 3Y Return (annualized) | +22.68%Best | +22.06% |
| 5Y Return (annualized) | +10.68% | +15.97%Best |
| Volatility (annualized) | 19.3% | 15.8%Best |
| Max Drawdown | -26.3% | -19.7%Best |
| $10,000 over 5 years | $16,609 | $20,976Best |
| Top 10 Weight | 56.8% | 41.9%Best |
| Fund Family | Davis ETFs | Fidelity Investments (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Jan 11, 2017 | Jun 2, 2020 |
Volatility and max drawdown are measured over the window both funds cover: Jun 4, 2020 to Oct 14, 2026 (6.4 years).
DFNL vs FFLC growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 6.4 years both funds cover.
DFNL vs FFLC Performance
Davis Select Financial ETF (DFNL) is an ETF from Davis ETFs and Fidelity Fundamental Large Cap Core ETF (FFLC) is an ETF from Fidelity Investments (US). Over the past year DFNL returned +8.37% while FFLC returned +14.13%. Year to date, DFNL is down 0.91% versus a gain of 9.90% for FFLC.
Over three years, DFNL compounded at +22.68% per year against +22.06% for FFLC; over five years the annualized figures are +10.68% and +15.97% respectively. Across the full 6-year window we track, FFLC has the edge at +19.16% annualized vs +16.23%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DFNL has been the more volatile fund, with annualized monthly volatility of 19.3% compared with 15.8% for FFLC. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -26.3% for DFNL and -19.7% for FFLC. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DFNL charges 0.63% per year while FFLC charges 0.38%. On a $10,000 position that is $63 vs $38 annually, a gap of $25 per year that compounds over a long holding period. On income, DFNL currently yields 1.37% against 1.01% for FFLC.
Holdings Overlap
21.1% of DFNL's money is in holdings FFLC also owns. 7.3% of FFLC's money is in holdings DFNL also owns.
DFNL and FFLC share little of their money.
7 positions in common, counted across the 30 positions we hold weights for in DFNL and 108 in FFLC, against full books of 90 and 216.
What only one of them owns
Our book lists 89 positions for FFLC that do not appear in our book for DFNL (84.4% of the fund), and 16 for DFNL that do not appear in FFLC (62.6%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in DFNL | Weight in FFLC | Difference |
|---|---|---|---|
| WFCWells Fargo & Co. | 4.91% | 1.62% | 3.29% |
| CBChubb Ltd. | 4.52% | 0.94% | 3.58% |
| PNCPnc Financial Services Group Inc. | 4.40% | 0.84% | 3.56% |
| BACBank of America Corp.: Financials | 2.30% | 1.65% | 0.65% |
| BKBank Of New York Mellon Corp | 2.37% | 0.94% | 1.43% |
| MTBM&T Bank Corp | 1.40% | 0.56% | 0.84% |
| SCHWSchwab Strategic T | 1.17% | 0.70% | 0.47% |
21.1% of DFNL is already inside FFLC.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DFNL or FFLC?
DFNL has an expense ratio of 0.63% while FFLC charges 0.38%. FFLC is the cheaper option, by $25 a year on a $10,000 investment.
Which performed better, DFNL or FFLC?
Over the past year DFNL returned +8.37% vs +14.13% for FFLC, so FFLC leads on 1-year performance. Over the longest common window we track (6 years), DFNL annualized +16.23% vs +19.16% for FFLC. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFNL or FFLC?
DFNL has been the more volatile fund at 19.3% annualized versus 15.8% for FFLC. Worst drawdown: DFNL -26.3% vs FFLC -19.7%.
Should I hold both DFNL and FFLC?
DFNL and FFLC have a monthly-return correlation of 0.81, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between DFNL and FFLC?
21.1% of DFNL's money is in holdings FFLC also owns. 7.3% of FFLC's is in holdings DFNL also owns. They hold 7 positions in common, counted across the 30 positions we hold weights for in DFNL and 108 in FFLC.
Which pays a higher dividend, DFNL or FFLC?
DFNL yields 1.37% while FFLC yields 1.01%, so DFNL currently pays the higher dividend yield.
Is FFLC better than DFNL?
FFLC has a lower expense ratio. DFNL led over 3Y, FFLC over 1Y, 5Y and the full window. FFLC is less concentrated, with 41.9% of the fund in its ten largest positions against 56.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.