ETY vs FELC
Eaton Vance Tax-Managed Diversified Equity Income Fund vs Fidelity Enhanced Large Cap Core ETF
Which is better, ETY or FELC?
FELC has been ahead.
FELC has a lower expense ratio. FELC led over 1Y, 3Y and the full window. FELC is less concentrated, with 40.1% of the fund in its ten largest positions against 50.5%.
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 | ETY | FELC |
|---|---|---|
| Expense Ratio | 1.06% | 0.18%Best |
| AUM | $1.8B | $8.6B |
| Dividend Yield | 7.52% | 0.83% |
| Holdings | 61 | 590 |
| YTD Return | -2.20% | +14.93%Best |
| 1Y Return | -2.84% | +19.54%Best |
| 3Y Return (annualized) | +15.48% | +22.11%Best |
| 5Y Return (annualized) | +8.08% | - |
| Volatility (annualized) | 12.0% | 11.7%Best |
| Max Drawdown | -21.3% | -18.6%Best |
| $10,000 over 2.9 years | $15,085 | $17,848Best |
| Top 10 Weight | 50.5% | 40.1%Best |
| Fund Family | Eaton Vance | Fidelity Investments (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 27, 2006 | Nov 20, 2023 |
Volatility and max drawdown, and the $10,000 over 2.9 years row, are measured over the window both funds cover: Nov 20, 2023 to Oct 14, 2026 (2.9 years).
ETY vs FELC 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 2.9 years both funds cover.
ETY vs FELC Performance
Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) is an ETF from Eaton Vance and Fidelity Enhanced Large Cap Core ETF (FELC) is an ETF from Fidelity Investments (US). Over the past year ETY returned -2.84% while FELC returned +19.54%. Year to date, ETY is down 2.20% versus a gain of 14.93% for FELC.
Over three years, ETY compounded at +15.48% per year against +22.11% for FELC.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETY has been the more volatile fund, with annualized monthly volatility of 12.0% compared with 11.7% for FELC. 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 -21.3% for ETY and -18.6% for FELC. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ETY charges 1.06% per year while FELC charges 0.18%. On a $10,000 position that is $106 vs $18 annually, a gap of $88 per year that compounds over a long holding period. On income, ETY currently yields 7.52% against 0.83% for FELC.
Holdings Overlap
80.7% of ETY's money is in holdings FELC also owns. 47.5% of FELC's money is in holdings ETY also owns.
Most of ETY is already inside FELC. Owning both mostly buys the same companies twice.
The two holdings books were reported 63 days apart, ETY as of Jul 31, 2026 and FELC as of Oct 2, 2026, so some of the difference between them is the time between the two reports rather than the funds.
34 positions in common, counted across the 58 positions we hold weights for in ETY and 300 in FELC, against full books of 61 and 590.
What only one of them owns
Our book lists 185 positions for FELC that do not appear in our book for ETY (51.8% of the fund), and 19 for ETY that do not appear in FELC (16.1%).
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 ETY | Weight in FELC | Difference |
|---|---|---|---|
| NVDANvidia Corp | 9.28% | 8.93% | 0.35% |
| AAPLApple, Inc | 7.05% | 7.73% | 0.68% |
| MSFTMicrosoft Corp | 6.19% | 5.08% | 1.11% |
| AMZNAmazon.Com Inc | 5.50% | 3.83% | 1.67% |
| GOOGAlphabet Inc. C | 7.02% | 2.12% | 4.90% |
| AVGOBroadcom Inc | 4.14% | 2.80% | 1.34% |
| JPMJpmorgan Chase | 3.23% | 1.71% | 1.52% |
| METAMeta Platforms Inc | 2.35% | 2.38% | 0.03% |
| LLYEli Lilly & Co. | 2.66% | 1.74% | 0.92% |
| VVisa Inc Class A | 2.76% | 0.91% | 1.85% |
80.7% of ETY is already inside FELC.
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, ETY or FELC?
ETY has an expense ratio of 1.06% while FELC charges 0.18%. FELC is the cheaper option, by $88 a year on a $10,000 investment.
Which performed better, ETY or FELC?
Over the past year ETY returned -2.84% vs +19.54% for FELC, so FELC leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ETY or FELC?
ETY has been the more volatile fund at 12.0% annualized versus 11.7% for FELC. Worst drawdown: ETY -21.3% vs FELC -18.6%.
Should I hold both ETY and FELC?
ETY and FELC have a monthly-return correlation of 0.89, 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 ETY and FELC?
80.7% of ETY's money is in holdings FELC also owns. 47.5% of FELC's is in holdings ETY also owns. They hold 34 positions in common, counted across the 58 positions we hold weights for in ETY and 300 in FELC.
Which pays a higher dividend, ETY or FELC?
ETY yields 7.52% while FELC yields 0.83%, so ETY currently pays the higher dividend yield.
Is FELC better than ETY?
FELC has a lower expense ratio. FELC led over 1Y, 3Y and the full window. FELC is less concentrated, with 40.1% of the fund in its ten largest positions against 50.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.