FELV vs FLCV
Fidelity Enhanced Large Cap Value ETF vs Federated Hermes MDT Large Cap Value ETF
Which is better, FELV or FLCV?
Nearly the same fund. FELV costs less.
FELV has a lower expense ratio. FELV led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.96. FELV is less concentrated, with 30.1% of the fund in its ten largest positions against 31.0%.
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 | FELV | FLCV |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.32% |
| AUM | $3.4B | $211M |
| Dividend Yield | 1.43% | 0.72% |
| Holdings | 364 | 252 |
| YTD Return | +22.64%Best | +18.52% |
| 1Y Return | +29.22%Best | +23.69% |
| 3Y Return (annualized) | +21.98% | - |
| Volatility (annualized) | 11.7% | 11.6%Best |
| Max Drawdown | -16.1% | -15.9%Best |
| $10,000 over 2.2 years | $14,730Best | $14,646 |
| Top 10 Weight | 30.1%Best | 31.0% |
| Fund Family | Fidelity Investments (US) | Federated Hermes |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Nov 20, 2023 | Jul 30, 2024 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 2.2 years row, are measured over the window both funds cover: Jul 31, 2024 to Oct 14, 2026 (2.2 years).
FELV vs FLCV 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 2.2 years both funds cover.
FELV vs FLCV Performance
Fidelity Enhanced Large Cap Value ETF (FELV) is an ETF from Fidelity Investments (US) and Federated Hermes MDT Large Cap Value ETF (FLCV) is an ETF from Federated Hermes. Over the past year FELV returned +29.22% while FLCV returned +23.69%. Year to date, FELV is up 22.64% versus a gain of 18.52% for FLCV.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FELV has been the more volatile fund, with annualized monthly volatility of 11.7% compared with 11.6% for FLCV. 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 -16.1% for FELV and -15.9% for FLCV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FELV charges 0.18% per year while FLCV charges 0.32%. On a $10,000 position that is $18 vs $32 annually, a gap of $14 per year that compounds over a long holding period. On income, FELV currently yields 1.43% against 0.72% for FLCV.
Holdings Overlap
50.9% of FELV's money is in holdings FLCV also owns. 75.8% of FLCV's money is in holdings FELV also owns.
Most of FLCV is already inside FELV. Owning both mostly buys the same companies twice.
82 positions in common, counted across the 389 positions we hold weights for in FELV and 126 in FLCV, against full books of 364 and 252.
What only one of them owns
Our book lists 43 positions for FLCV that do not appear in our book for FELV (22.7% of the fund), and 252 for FELV that do not appear in FLCV (48.0%).
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 FELV | Weight in FLCV | Difference |
|---|---|---|---|
| AAPLApple, Inc | 6.50% | 6.28% | 0.22% |
| AMZNAmazon.Com Inc | 6.20% | 5.80% | 0.40% |
| MSFTMicrosoft Corp | 4.67% | 4.38% | 0.29% |
| JPMJpmorgan Chase | 2.62% | 1.78% | 0.84% |
| ABBVAbbvie Inc. | 0.92% | 3.01% | 2.09% |
| XOMExxonmobil Holdings Corp Common Stock Usd | 1.91% | 1.65% | 0.26% |
| JNJJohnson & Johnson - Common | 1.29% | 1.59% | 0.30% |
| CSCOCisco Systems Inc. - Ordinary Shares | 1.25% | 1.58% | 0.33% |
| INTCIntel Corporation | 1.44% | 1.01% | 0.43% |
| STTState Street Corp. | 0.52% | 1.90% | 1.38% |
75.8% of FLCV is already inside FELV.
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, FELV or FLCV?
FELV has an expense ratio of 0.18% while FLCV charges 0.32%. FELV is the cheaper option, by $14 a year on a $10,000 investment.
Which performed better, FELV or FLCV?
Over the past year FELV returned +29.22% vs +23.69% for FLCV, so FELV leads on 1-year performance. Over the longest common window we track (2 years), FELV annualized +19.25% vs +18.94% for FLCV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FELV or FLCV?
FELV has been the more volatile fund at 11.7% annualized versus 11.6% for FLCV. Worst drawdown: FELV -16.1% vs FLCV -15.9%.
Should I hold both FELV and FLCV?
FELV and FLCV have a monthly-return correlation of 0.96, 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 FELV and FLCV?
75.8% of FLCV's money is in holdings FELV also owns. 75.8% of FLCV's is in holdings FELV also owns. They hold 82 positions in common, counted across the 389 positions we hold weights for in FELV and 126 in FLCV.
Which pays a higher dividend, FELV or FLCV?
FELV yields 1.43% while FLCV yields 0.72%, so FELV currently pays the higher dividend yield.
Is FLCV better than FELV?
FELV has a lower expense ratio. FELV led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.96. FELV is less concentrated, with 30.1% of the fund in its ten largest positions against 31.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.