FFLC vs SSPY
Fidelity Fundamental Large Cap Core ETF vs Stratified LargeCap Index ETF
Which is better, FFLC or SSPY?
Each has led over a different period.
FFLC has a lower expense ratio. FFLC led over 3Y, 5Y and the full window, SSPY over 1Y. The two have moved almost in lockstep, correlation 0.90. SSPY is less concentrated, with 8.9% of the fund in its ten largest positions against 41.9%.
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 | FFLC | SSPY |
|---|---|---|
| Expense Ratio | 0.38%Best | 0.45% |
| AUM | $1.2B | $129M |
| Dividend Yield | 1.01% | 1.25% |
| Holdings | 216 | 1,013 |
| YTD Return | +9.90% | +12.63%Best |
| 1Y Return | +14.13% | +15.52%Best |
| 3Y Return (annualized) | +22.06%Best | +15.71% |
| 5Y Return (annualized) | +15.97%Best | +8.93% |
| Volatility (annualized) | 15.8% | 15.2%Best |
| Max Drawdown | -19.7% | -19.6%Best |
| $10,000 over 5 years | $20,976Best | $15,337 |
| Top 10 Weight | 41.9% | 8.9%Best |
| Fund Family | Fidelity Investments (US) | Syntax Stratified |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Jun 2, 2020 | Jan 2, 2019 |
Volatility and max drawdown are measured over the window both funds cover: Jun 4, 2020 to Oct 14, 2026 (6.4 years).
FFLC vs SSPY 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 6.4 years both funds cover.
FFLC vs SSPY Performance
Fidelity Fundamental Large Cap Core ETF (FFLC) is an ETF from Fidelity Investments (US) and Stratified LargeCap Index ETF (SSPY) is an ETF from Syntax Stratified. Over the past year FFLC returned +14.13% while SSPY returned +15.52%. Year to date, FFLC is up 9.90% versus a gain of 12.63% for SSPY.
Over three years, FFLC compounded at +22.06% per year against +15.71% for SSPY; over five years the annualized figures are +15.97% and +8.93% respectively. Across the full 6-year window we track, FFLC has the edge at +19.16% annualized vs +13.53%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FFLC has been the more volatile fund, with annualized monthly volatility of 15.8% compared with 15.2% for SSPY. 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 -19.7% for FFLC and -19.6% for SSPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FFLC charges 0.38% per year while SSPY charges 0.45%. On a $10,000 position that is $38 vs $45 annually, a gap of $7 per year that compounds over a long holding period. On income, FFLC currently yields 1.01% against 1.25% for SSPY.
Holdings Overlap
84.2% of FFLC's money is in holdings SSPY also owns. 16.5% of SSPY's money is in holdings FFLC also owns.
Most of FFLC is already inside SSPY. Owning both mostly buys the same companies twice.
80 positions in common, counted across the 108 positions we hold weights for in FFLC and 504 in SSPY, against full books of 216 and 1,013.
What only one of them owns
Our book lists 416 positions for SSPY that do not appear in our book for FFLC (81.8% of the fund), and 16 for FFLC that do not appear in SSPY (7.5%).
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 FFLC | Weight in SSPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.82% | 0.12% | 8.70% |
| GOOGLAlphabet Inc | 6.67% | 0.32% | 6.35% |
| MSFTMicrosoft Corp | 4.64% | 1.29% | 3.35% |
| AMZNAmazon.Com Inc | 5.51% | 0.26% | 5.25% |
| AAPLApple, Inc | 4.44% | 0.58% | 3.86% |
| METAMeta Platforms Inc | 3.11% | 0.78% | 2.33% |
| XOMExxonmobil Corp. | 2.06% | 0.58% | 1.48% |
| AVGOBroadcom Inc | 2.17% | 0.32% | 1.85% |
| VVisa Inc Class A | 1.90% | 0.05% | 1.85% |
| BABoeing Co | 1.77% | 0.16% | 1.61% |
84.2% of FFLC is already inside SSPY.
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, FFLC or SSPY?
FFLC has an expense ratio of 0.38% while SSPY charges 0.45%. FFLC is the cheaper option, by $7 a year on a $10,000 investment.
Which performed better, FFLC or SSPY?
Over the past year FFLC returned +14.13% vs +15.52% for SSPY, so SSPY leads on 1-year performance. Over the longest common window we track (6 years), FFLC annualized +19.16% vs +13.53% for SSPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FFLC or SSPY?
FFLC has been the more volatile fund at 15.8% annualized versus 15.2% for SSPY. Worst drawdown: FFLC -19.7% vs SSPY -19.6%.
Should I hold both FFLC and SSPY?
FFLC and SSPY have a monthly-return correlation of 0.90, 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 FFLC and SSPY?
84.2% of FFLC's money is in holdings SSPY also owns. 16.5% of SSPY's is in holdings FFLC also owns. They hold 80 positions in common, counted across the 108 positions we hold weights for in FFLC and 504 in SSPY.
Which pays a higher dividend, FFLC or SSPY?
FFLC yields 1.01% while SSPY yields 1.25%, so SSPY currently pays the higher dividend yield.
Is SSPY better than FFLC?
FFLC has a lower expense ratio. FFLC led over 3Y, 5Y and the full window, SSPY over 1Y. The two have moved almost in lockstep, correlation 0.90. SSPY is less concentrated, with 8.9% of the fund in its ten largest positions against 41.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.