FELV vs VLLU
Fidelity Enhanced Large Cap Value ETF vs Harbor AlphaEdge Large Cap Value ETF
Which is better, FELV or VLLU?
FELV has been ahead.
FELV has a lower expense ratio. FELV led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91. FELV is less concentrated, with 30.1% of the fund in its ten largest positions against 37.4%.
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 | VLLU |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.25% |
| AUM | $3.4B | $5M |
| Dividend Yield | 1.43% | 1.35% |
| Holdings | 364 | 75 |
| Volatility (annualized) | 12.3% | 10.7%Best |
| Max Drawdown | -16.1%Best | -16.6% |
| $10,000 over 2 years | $14,923Best | $13,865 |
| Top 10 Weight | 30.1%Best | 37.4% |
| Fund Family | Fidelity Investments (US) | Harbor Funds |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Nov 20, 2023 | Sep 3, 2024 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 47 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. FELV has data through Oct 14, 2026 and VLLU through Aug 28, 2026.
Volatility and max drawdown, and the $10,000 over 2 years row, are measured over the window both funds cover: Sep 5, 2024 to Aug 28, 2026 (2 years).
Risk: Volatility and Drawdowns
FELV has been the more volatile fund, with annualized monthly volatility of 12.3% compared with 10.7% for VLLU. 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 -16.6% for VLLU. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.91. 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 VLLU charges 0.25%. On a $10,000 position that is $18 vs $25 annually, a gap of $7 per year that compounds over a long holding period. On income, FELV currently yields 1.43% against 1.35% for VLLU.
Holdings Overlap
29.1% of FELV's money is in holdings VLLU also owns. 62.2% of VLLU's money is in holdings FELV also owns.
The two portfolios partly overlap.
The two holdings books were reported 94 days apart, FELV as of Oct 2, 2026 and VLLU as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
47 positions in common, counted across the 389 positions we hold weights for in FELV and 74 in VLLU, against full books of 364 and 75.
What only one of them owns
Our book lists 22 positions for VLLU that do not appear in our book for FELV (31.9% of the fund), and 286 for FELV that do not appear in VLLU (69.7%).
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 VLLU | Difference |
|---|---|---|---|
| AAPLApple, Inc | 6.50% | 3.51% | 2.99% |
| GOOGLAlphabet Inc | 0.00% | 6.15% | 6.15% |
| JNJJohnson & Johnson - Common | 1.29% | 4.75% | 3.46% |
| BACBank of America Corp.: Financials | 1.13% | 3.30% | 2.17% |
| CCitigroup Inc. | 0.39% | 3.01% | 2.62% |
| GDGeneral Dynamics Corp. | 0.37% | 2.85% | 2.48% |
| JPMJpmorgan Chase | 2.62% | 0.58% | 2.04% |
| ADBEAdobe Systems | 0.55% | 2.58% | 2.03% |
| CRUSCirrus Logic Inc | 0.22% | 2.58% | 2.36% |
| MOAltria Group Inc | 0.15% | 2.63% | 2.48% |
62.2% of VLLU 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.
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Frequently Asked Questions
Which is cheaper, FELV or VLLU?
FELV has an expense ratio of 0.18% while VLLU charges 0.25%. FELV is the cheaper option, by $7 a year on a $10,000 investment.
Which is riskier, FELV or VLLU?
FELV has been the more volatile fund at 12.3% annualized versus 10.7% for VLLU. Worst drawdown: FELV -16.1% vs VLLU -16.6%.
Should I hold both FELV and VLLU?
FELV and VLLU have a monthly-return correlation of 0.91, 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 VLLU?
62.2% of VLLU's money is in holdings FELV also owns. 62.2% of VLLU's is in holdings FELV also owns. They hold 47 positions in common, counted across the 389 positions we hold weights for in FELV and 74 in VLLU.
Which pays a higher dividend, FELV or VLLU?
FELV yields 1.43% while VLLU yields 1.35%, so FELV currently pays the higher dividend yield.
Is VLLU 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 0.91. FELV is less concentrated, with 30.1% of the fund in its ten largest positions against 37.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.