FELV vs VMAX
Fidelity Enhanced Large Cap Value ETF vs Hartford US Value ETF
Which is better, FELV or VMAX?
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 0.95. VMAX is less concentrated, with 19.0% of the fund in its ten largest positions against 30.1%.
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 | VMAX |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.29% |
| AUM | $3.4B | $3M |
| Dividend Yield | 1.43% | 2.17% |
| Holdings | 364 | 127 |
| YTD Return | +22.64%Best | +16.66% |
| 1Y Return | +29.22%Best | +21.02% |
| 3Y Return (annualized) | +21.98% | - |
| Volatility (annualized) | 11.6%Best | 12.2% |
| Max Drawdown | -16.1%Best | -19.1% |
| $10,000 over 2.9 years | $17,666Best | $16,927 |
| Top 10 Weight | 30.1% | 19.0%Best |
| Fund Family | Fidelity Investments (US) | Hartford Funds |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Nov 20, 2023 | Dec 5, 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: Dec 6, 2023 to Oct 14, 2026 (2.9 years).
FELV vs VMAX 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 VMAX Performance
Fidelity Enhanced Large Cap Value ETF (FELV) is an ETF from Fidelity Investments (US) and Hartford US Value ETF (VMAX) is an ETF from Hartford Funds. Over the past year FELV returned +29.22% while VMAX returned +21.02%. Year to date, FELV is up 22.64% versus a gain of 16.66% for VMAX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VMAX has been the more volatile fund, with annualized monthly volatility of 12.2% compared with 11.6% for FELV. 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 -19.1% for VMAX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.95. 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 VMAX charges 0.29%. On a $10,000 position that is $18 vs $29 annually, a gap of $11 per year that compounds over a long holding period. On income, FELV currently yields 1.43% against 2.17% for VMAX.
Holdings Overlap
52.0% of FELV's money is in holdings VMAX also owns. 70.3% of VMAX's money is in holdings FELV also owns.
Most of VMAX is already inside FELV. Owning both mostly buys the same companies twice.
79 positions in common, counted across the 389 positions we hold weights for in FELV and 125 in VMAX, against full books of 364 and 127.
What only one of them owns
Our book lists 42 positions for VMAX that do not appear in our book for FELV (27.2% of the fund), and 259 for FELV that do not appear in VMAX (46.9%).
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 VMAX | Difference |
|---|---|---|---|
| AAPLApple, Inc | 6.50% | 1.32% | 5.18% |
| AMZNAmazon.Com Inc | 6.20% | 0.59% | 5.61% |
| MSFTMicrosoft Corp | 4.67% | 0.31% | 4.36% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 3.04% | 1.86% | 1.18% |
| JPMJpmorgan Chase | 2.62% | 0.97% | 1.65% |
| XOMExxonmobil Corp. | 1.91% | 1.06% | 0.85% |
| BMYBristol-Myers Squibb Co. | 0.84% | 1.91% | 1.07% |
| PGRProgressive Corporation | 0.83% | 1.85% | 1.02% |
| METAMeta Platforms Inc | 0.63% | 1.98% | 1.35% |
| BACBank of America Corp.: Financials | 1.13% | 1.30% | 0.17% |
70.3% of VMAX 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 VMAX?
FELV has an expense ratio of 0.18% while VMAX charges 0.29%. FELV is the cheaper option, by $11 a year on a $10,000 investment.
Which performed better, FELV or VMAX?
Over the past year FELV returned +29.22% vs +21.02% for VMAX, 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 VMAX?
VMAX has been the more volatile fund at 12.2% annualized versus 11.6% for FELV. Worst drawdown: FELV -16.1% vs VMAX -19.1%.
Should I hold both FELV and VMAX?
FELV and VMAX have a monthly-return correlation of 0.95, 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 VMAX?
70.3% of VMAX's money is in holdings FELV also owns. 70.3% of VMAX's is in holdings FELV also owns. They hold 79 positions in common, counted across the 389 positions we hold weights for in FELV and 125 in VMAX.
Which pays a higher dividend, FELV or VMAX?
FELV yields 1.43% while VMAX yields 2.17%, so VMAX currently pays the higher dividend yield.
Is VMAX 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 0.95. VMAX is less concentrated, with 19.0% of the fund in its ten largest positions against 30.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.