FFLV vs TCV
Fidelity Fundamental Large Cap Value ETF vs Towle Small-Cap Value ETF
Which is better, FFLV or TCV?
TCV has been ahead.
FFLV has a lower expense ratio. TCV led over 1Y and the full window. TCV is less concentrated, with 27.7% of the fund in its ten largest positions against 33.3%.
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 | TCV |
|---|---|---|
| Expense Ratio | 0.38%Best | 0.85% |
| AUM | $18M | $202M |
| Dividend Yield | 1.36% | 0.59% |
| Holdings | 230 | 105 |
| YTD Return | +15.67% | +25.62%Best |
| 1Y Return | +22.35% | +29.73%Best |
| Volatility (annualized) | 11.1%Best | 16.5% |
| Max Drawdown | -7.6%Best | -12.2% |
| $10,000 over 1.2 years | $12,742 | $13,106Best |
| Top 10 Weight | 33.3% | 27.7%Best |
| Fund Family | Fidelity Investments (US) | Towle |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Feb 9, 2024 | Jul 16, 2025 |
Not shown on this pair: 3Y Return (annualized), 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jul 17, 2025 to Oct 15, 2026 (1.2 years).
FFLV vs TCV 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 1.2 years both funds cover.
FFLV vs TCV Performance
Fidelity Fundamental Large Cap Value ETF (FFLV) is an ETF from Fidelity Investments (US) and Towle Small-Cap Value ETF (TCV) is an ETF from Towle. Over the past year FFLV returned +22.35% while TCV returned +29.73%. Year to date, FFLV is up 15.67% versus a gain of 25.62% for TCV.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TCV has been the more volatile fund, with annualized monthly volatility of 16.5% compared with 11.1% for FFLV. 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 -7.6% for FFLV and -12.2% for TCV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FFLV charges 0.38% per year while TCV charges 0.85%. On a $10,000 position that is $38 vs $85 annually, a gap of $47 per year that compounds over a long holding period. On income, FFLV currently yields 1.36% against 0.59% for TCV.
Holdings Overlap
1.9% of FFLV's money is in holdings TCV also owns. 9.7% of TCV's money is in holdings FFLV also owns.
TCV and FFLV share little of their money.
4 positions in common, counted across the 115 positions we hold weights for in FFLV and 51 in TCV, against full books of 230 and 105.
What only one of them owns
Our book lists 45 positions for TCV that do not appear in our book for FFLV (86.5% of the fund), and 98 for FFLV that do not appear in TCV (89.2%).
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.
You are not choosing between two funds in isolation.
Whichever of FFLV and TCV you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FFLV or TCV?
FFLV has an expense ratio of 0.38% while TCV charges 0.85%. FFLV is the cheaper option, by $47 a year on a $10,000 investment.
Which performed better, FFLV or TCV?
Over the past year FFLV returned +22.35% vs +29.73% for TCV, so TCV leads on 1-year performance. Over the longest common window we track (1 years), FFLV annualized +22.38% vs +25.28% for TCV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FFLV or TCV?
TCV has been the more volatile fund at 16.5% annualized versus 11.1% for FFLV. Worst drawdown: FFLV -7.6% vs TCV -12.2%.
Should I hold both FFLV and TCV?
FFLV and TCV have a monthly-return correlation of 0.86, 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 TCV?
9.7% of TCV's money is in holdings FFLV also owns. 9.7% of TCV's is in holdings FFLV also owns. They hold 4 positions in common, counted across the 115 positions we hold weights for in FFLV and 51 in TCV.
Which pays a higher dividend, FFLV or TCV?
FFLV yields 1.36% while TCV yields 0.59%, so FFLV currently pays the higher dividend yield.
Is TCV better than FFLV?
FFLV has a lower expense ratio. TCV led over 1Y and the full window. TCV is less concentrated, with 27.7% of the fund in its ten largest positions against 33.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.