FELC vs QLTY
Fidelity Enhanced Large Cap Core ETF vs GMO US Quality ETF
Which is better, FELC or QLTY?
Each has led over a different period.
FELC has a lower expense ratio. FELC led over 3Y and the full window, QLTY over 1Y. The two have moved almost in lockstep, correlation 0.93. FELC is less concentrated, with 40.1% of the fund in its ten largest positions against 45.5%.
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 | FELC | QLTY |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.50% |
| AUM | $8.6B | $5.4B |
| Dividend Yield | 0.83% | 0.66% |
| Holdings | 590 | 90 |
| YTD Return | +14.93%Best | +14.13% |
| 1Y Return | +19.54% | +20.95%Best |
| 3Y Return (annualized) | +22.11%Best | +21.84% |
| Volatility (annualized) | 11.7%Best | 11.9% |
| Max Drawdown | -18.6% | -17.0%Best |
| $10,000 over 2.9 years | $17,848Best | $17,490 |
| Top 10 Weight | 40.1%Best | 45.5% |
| Fund Family | Fidelity Investments (US) | GMO |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 20, 2023 | Nov 13, 2023 |
Not shown on this pair: 5Y Return (annualized).
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).
FELC vs QLTY 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.
FELC vs QLTY Performance
Fidelity Enhanced Large Cap Core ETF (FELC) is an ETF from Fidelity Investments (US) and GMO US Quality ETF (QLTY) is an ETF from GMO. Over the past year FELC returned +19.54% while QLTY returned +20.95%. Year to date, FELC is up 14.93% versus a gain of 14.13% for QLTY.
Over three years, FELC compounded at +22.11% per year against +21.84% for QLTY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QLTY has been the more volatile fund, with annualized monthly volatility of 11.9% 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 -18.6% for FELC and -17.0% for QLTY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FELC charges 0.18% per year while QLTY charges 0.50%. On a $10,000 position that is $18 vs $50 annually, a gap of $32 per year that compounds over a long holding period. On income, FELC currently yields 0.83% against 0.66% for QLTY.
Holdings Overlap
44.8% of FELC's money is in holdings QLTY also owns. 84.1% of QLTY's money is in holdings FELC also owns.
Most of QLTY is already inside FELC. Owning both mostly buys the same companies twice.
31 positions in common, counted across the 300 positions we hold weights for in FELC and 45 in QLTY, against full books of 590 and 90.
What only one of them owns
Our book lists 14 positions for QLTY that do not appear in our book for FELC (15.6% of the fund), and 188 for FELC that do not appear in QLTY (54.6%).
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 FELC | Weight in QLTY | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 5.08% | 8.00% | 2.92% |
| NVDANvidia Corp | 8.93% | 3.30% | 5.63% |
| AAPLApple, Inc | 7.73% | 4.20% | 3.53% |
| GOOGLAlphabet Inc | 3.35% | 4.90% | 1.55% |
| AMZNAmazon.Com Inc | 3.83% | 3.50% | 0.33% |
| METAMeta Platforms Inc | 2.38% | 4.80% | 2.42% |
| AVGOBroadcom Inc | 2.80% | 3.70% | 0.90% |
| JNJJohnson & Johnson - Common | 0.49% | 4.10% | 3.61% |
| TXNTexas Instrument Inc | 0.73% | 3.80% | 3.07% |
| LRCXLam Research Corp | 0.20% | 4.20% | 4.00% |
84.1% of QLTY 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, FELC or QLTY?
FELC has an expense ratio of 0.18% while QLTY charges 0.50%. FELC is the cheaper option, by $32 a year on a $10,000 investment.
Which performed better, FELC or QLTY?
Over the past year FELC returned +19.54% vs +20.95% for QLTY, so QLTY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FELC or QLTY?
QLTY has been the more volatile fund at 11.9% annualized versus 11.7% for FELC. Worst drawdown: FELC -18.6% vs QLTY -17.0%.
Should I hold both FELC and QLTY?
FELC and QLTY have a monthly-return correlation of 0.93, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between FELC and QLTY?
84.1% of QLTY's money is in holdings FELC also owns. 84.1% of QLTY's is in holdings FELC also owns. They hold 31 positions in common, counted across the 300 positions we hold weights for in FELC and 45 in QLTY.
Which pays a higher dividend, FELC or QLTY?
FELC yields 0.83% while QLTY yields 0.66%, so FELC currently pays the higher dividend yield.
Is QLTY better than FELC?
FELC has a lower expense ratio. FELC led over 3Y and the full window, QLTY over 1Y. The two have moved almost in lockstep, correlation 0.93. FELC is less concentrated, with 40.1% of the fund in its ten largest positions against 45.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.