FELV vs SPY
Fidelity Enhanced Large Cap Value ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FELV or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. FELV led over 1Y and the full window, SPY over 3Y. FELV is less concentrated, with 30.1% of the fund in its ten largest positions against 38.2%.
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 | SPY |
|---|---|---|
| Expense Ratio | 0.18% | 0.09%Best |
| AUM | $3.4B | $823.2B |
| Dividend Yield | 1.43% | 0.99% |
| Holdings | 364 | 1,515 |
| YTD Return | +22.64%Best | +13.53% |
| 1Y Return | +29.22%Best | +17.47% |
| 3Y Return (annualized) | +21.98% | +22.36%Best |
| 5Y Return (annualized) | - | +13.21% |
| Volatility (annualized) | 11.6%Tie | 11.6%Tie |
| Max Drawdown | -16.1%Best | -18.8% |
| $10,000 over 2.9 years | $17,793Best | $17,569 |
| Top 10 Weight | 30.1%Best | 38.2% |
| Fund Family | Fidelity Investments (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Nov 20, 2023 | Jan 22, 1993 |
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).
FELV vs SPY 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.
FELV vs SPY Performance
Fidelity Enhanced Large Cap Value ETF (FELV) is an ETF from Fidelity Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FELV returned +29.22% while SPY returned +17.47%. Year to date, FELV is up 22.64% versus a gain of 13.53% for SPY.
Over three years, FELV compounded at +21.98% per year against +22.36% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FELV and SPY have been equally volatile, both at 11.6% annualized.
The deepest peak-to-trough decline in our data was -16.1% for FELV and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FELV charges 0.18% per year while SPY charges 0.09%. On a $10,000 position that is $18 vs $9 annually, a gap of $9 per year that compounds over a long holding period. On income, FELV currently yields 1.43% against 0.99% for SPY.
Holdings Overlap
85.9% of FELV's money is in holdings SPY also owns. 64.2% of SPY's money is in holdings FELV also owns.
Most of FELV is already inside SPY. Owning both mostly buys the same companies twice.
234 positions in common, counted across the 389 positions we hold weights for in FELV and 504 in SPY, against full books of 364 and 1,515.
What only one of them owns
Our book lists 262 positions for SPY that do not appear in our book for FELV (34.9% of the fund), and 123 for FELV that do not appear in SPY (13.0%).
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 SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 6.50% | 7.45% | 0.95% |
| MSFTMicrosoft Corp | 4.67% | 5.71% | 1.04% |
| AMZNAmazon.Com Inc | 6.20% | 3.78% | 2.42% |
| BRK.BBerkshire Hathaway, Inc. | 3.04% | 1.44% | 1.60% |
| JPMJpmorgan Chase & Co | 2.62% | 1.43% | 1.19% |
| GOOGLAlphabet Inc Cl A | 0.00% | 3.12% | 3.12% |
| XOMExxon Mobil Corp | 1.91% | 1.04% | 0.87% |
| METAMeta Platforms Inc Class A | 0.63% | 2.22% | 1.59% |
| GOOGAlphabet Inc Cl C | 0.01% | 2.49% | 2.48% |
| JNJJohnson & Johnson | 1.29% | 0.98% | 0.31% |
85.9% of FELV is already inside SPY.
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 SPY?
FELV has an expense ratio of 0.18% while SPY charges 0.09%. SPY is the cheaper option, by $9 a year on a $10,000 investment.
Which performed better, FELV or SPY?
Over the past year FELV returned +29.22% vs +17.47% for SPY, so FELV leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FELV or SPY?
FELV and SPY have been equally volatile, both at 11.6% annualized. Worst drawdown: FELV -16.1% vs SPY -18.8%.
Should I hold both FELV and SPY?
FELV and SPY have a monthly-return correlation of 0.78, 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 FELV and SPY?
85.9% of FELV's money is in holdings SPY also owns. 64.2% of SPY's is in holdings FELV also owns. They hold 234 positions in common, counted across the 389 positions we hold weights for in FELV and 504 in SPY.
Which pays a higher dividend, FELV or SPY?
FELV yields 1.43% while SPY yields 0.99%, so FELV currently pays the higher dividend yield.
Is SPY better than FELV?
SPY has a lower expense ratio. FELV led over 1Y and the full window, SPY over 3Y. FELV is less concentrated, with 30.1% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.