FFLV vs SPY
Fidelity Fundamental Large Cap Value ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FFLV or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. FFLV led over 1Y, SPY over the full window. FFLV is less concentrated, with 33.3% 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 | FFLV | SPY |
|---|---|---|
| Expense Ratio | 0.38% | 0.09%Best |
| AUM | $18M | $823.2B |
| Dividend Yield | 1.36% | 0.99% |
| Holdings | 230 | 1,515 |
| YTD Return | +14.51%Best | +13.53% |
| 1Y Return | +21.86%Best | +17.47% |
| 3Y Return (annualized) | - | +22.36% |
| 5Y Return (annualized) | - | +13.21% |
| Volatility (annualized) | 12.4% | 11.8%Best |
| Max Drawdown | -16.7%Best | -18.8% |
| $10,000 over 2.6 years | $14,372 | $15,623Best |
| Top 10 Weight | 33.3%Best | 38.2% |
| Fund Family | Fidelity Investments (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Feb 9, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2.6 years row, are measured over the window both funds cover: Feb 26, 2024 to Oct 14, 2026 (2.6 years).
FFLV 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 2.6 years both funds cover.
FFLV vs SPY Performance
Fidelity Fundamental Large Cap Value ETF (FFLV) 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 FFLV returned +21.86% while SPY returned +17.47%. Year to date, FFLV is up 14.51% versus a gain of 13.53% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FFLV has been the more volatile fund, with annualized monthly volatility of 12.4% compared with 11.8% for SPY. 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 -16.7% for FFLV 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 0.65. They move together some of the time, and apart the rest.
Fees and Cost Over Time
FFLV charges 0.38% per year while SPY charges 0.09%. On a $10,000 position that is $38 vs $9 annually, a gap of $29 per year that compounds over a long holding period. On income, FFLV currently yields 1.36% against 0.99% for SPY.
Holdings Overlap
79.0% of FFLV's money is in holdings SPY also owns. 37.7% of SPY's money is in holdings FFLV also owns.
Most of FFLV is already inside SPY. Owning both mostly buys the same companies twice.
76 positions in common, counted across the 115 positions we hold weights for in FFLV and 504 in SPY, against full books of 230 and 1,515.
What only one of them owns
Our book lists 421 positions for SPY that do not appear in our book for FFLV (61.4% of the fund), and 27 for FFLV 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 FFLV | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 5.11% | 7.45% | 2.34% |
| MSFTMicrosoft Corp | 4.77% | 5.71% | 0.94% |
| AMZNAmazon.Com Inc | 6.42% | 3.78% | 2.64% |
| XOMExxonmobil Corp. | 4.05% | 1.04% | 3.01% |
| GOOGLAlphabet Inc | 0.76% | 3.12% | 2.36% |
| METAMeta Platforms Inc | 0.91% | 2.22% | 1.31% |
| WFCWells Fargo & Co. | 2.59% | 0.41% | 2.18% |
| BACBank Of America Corp. | 2.28% | 0.59% | 1.69% |
| MRKMerck & Company Inc | 2.27% | 0.54% | 1.73% |
| JNJJohnson & Johnson - Common | 1.81% | 0.98% | 0.83% |
79.0% of FFLV 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, FFLV or SPY?
FFLV has an expense ratio of 0.38% while SPY charges 0.09%. SPY is the cheaper option, by $29 a year on a $10,000 investment.
Which performed better, FFLV or SPY?
Over the past year FFLV returned +21.86% vs +17.47% for SPY, so FFLV leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FFLV or SPY?
FFLV has been the more volatile fund at 12.4% annualized versus 11.8% for SPY. Worst drawdown: FFLV -16.7% vs SPY -18.8%.
Should I hold both FFLV and SPY?
FFLV and SPY have a monthly-return correlation of 0.65, 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 FFLV and SPY?
79.0% of FFLV's money is in holdings SPY also owns. 37.7% of SPY's is in holdings FFLV also owns. They hold 76 positions in common, counted across the 115 positions we hold weights for in FFLV and 504 in SPY.
Which pays a higher dividend, FFLV or SPY?
FFLV yields 1.36% while SPY yields 0.99%, so FFLV currently pays the higher dividend yield.
Is SPY better than FFLV?
SPY has a lower expense ratio. FFLV led over 1Y, SPY over the full window. FFLV is less concentrated, with 33.3% 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.