FELC vs FMCX
Fidelity Enhanced Large Cap Core ETF vs FM Focus Equity ETF
Which is better, FELC or FMCX?
FELC has been ahead.
FELC has a lower expense ratio. FELC led over 1Y, 3Y and the full window.
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 | FELC | FMCX |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.72% |
| AUM | $8.7B | $115M |
| Dividend Yield | 0.85% | 0.30% |
| Holdings | 622 | 32 |
| YTD Return | +12.88%Best | +6.73% |
| 1Y Return | +13.52%Best | +7.10% |
| 3Y Return (annualized) | +20.75%Best | +15.11% |
| Volatility (annualized) | 11.7%Best | 12.9% |
| Max Drawdown | -18.6% | -18.5%Best |
| $10,000 over 3 years | $17,606Best | $14,710 |
| Fund Family | Fidelity Investments (US) | First Manhattan |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 20, 2023 | Apr 22, 2022 |
Not shown on this pair: 5Y Return (annualized), Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3 years row, are measured over the window both funds cover: Nov 20, 2023 to Nov 11, 2026 (3 years).
FELC vs FMCX 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 3 years both funds cover.
FELC vs FMCX Performance
Fidelity Enhanced Large Cap Core ETF (FELC) is an ETF from Fidelity Investments (US) and FM Focus Equity ETF (FMCX) is an ETF from First Manhattan. Over the past year FELC returned +13.52% while FMCX returned +7.10%. Year to date, FELC is up 12.88% versus a gain of 6.73% for FMCX.
Over three years, FELC compounded at +20.75% per year against +15.11% for FMCX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMCX has been the more volatile fund, with annualized monthly volatility of 12.9% compared with 11.7% for FELC. 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 -18.6% for FELC and -18.5% for FMCX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FELC charges 0.18% per year while FMCX charges 0.72%. On a $10,000 position that is $18 vs $72 annually, a gap of $54 per year that compounds over a long holding period. On income, FELC currently yields 0.85% against 0.30% for FMCX.
Holdings Overlap
At least 27.9% of FELC's money is in holdings FMCX also owns.
Stated as a floor: for FMCX, our book for it covers 88.0% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
FELC and FMCX share little of their money.
The two holdings books were reported 46 days apart, FELC as of Oct 16, 2026 and FMCX as of Aug 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
19 positions in common, counted across the 306 positions we hold weights for in FELC and 28 in FMCX, against full books of 622 and 32.
Top Shared Holdings
| Stock | Weight in FELC | Weight in FMCX | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 5.18% | 7.38% | 2.20% |
| NVDANvidia Corp | 8.15% | 1.99% | 6.16% |
| AMZNAmazon.Com Inc | 3.84% | 4.62% | 0.78% |
| GEGeneral Electric Co. | 0.72% | 5.83% | 5.11% |
| KKRKkr & Co. Inc. Class A | 0.12% | 5.89% | 5.77% |
| AVGOBroadcom Inc | 2.62% | 3.13% | 0.51% |
| INTCIntel Corp. | 0.73% | 4.15% | 3.42% |
| CRMSalesforce Inc Crm Us Equity | 0.28% | 4.46% | 4.18% |
| TMOThermo Fisher | 0.10% | 4.07% | 3.97% |
| GOOGAlphabet Inc. C | 2.09% | 1.89% | 0.20% |
27.9% of FELC is already inside FMCX.
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, FELC or FMCX?
FELC has an expense ratio of 0.18% while FMCX charges 0.72%. FELC is the cheaper option, by $54 a year on a $10,000 investment.
Which performed better, FELC or FMCX?
Over the past year FELC returned +13.52% vs +7.10% for FMCX, so FELC leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FELC or FMCX?
FMCX has been the more volatile fund at 12.9% annualized versus 11.7% for FELC. Worst drawdown: FELC -18.6% vs FMCX -18.5%.
Should I hold both FELC and FMCX?
FELC and FMCX have a monthly-return correlation of 0.89, 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 FELC and FMCX?
At least 27.9% of FELC's money is in holdings FMCX also owns. Our book for FMCX is partial, so the real figure is this or higher. They hold 19 positions in common, counted across the 306 positions we hold weights for in FELC and 28 in FMCX.
Which pays a higher dividend, FELC or FMCX?
FELC yields 0.85% while FMCX yields 0.30%, so FELC currently pays the higher dividend yield.
Is FMCX better than FELC?
FELC has a lower expense ratio. FELC led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.