FELC vs SPY
Fidelity Enhanced Large Cap Core ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FELC or SPY?
Nearly the same fund. SPY costs less.
SPY has a lower expense ratio. FELC led over 1Y and the full window, SPY over 3Y. The two have moved almost in lockstep, correlation 0.99. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 38.8%.
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 | SPY |
|---|---|---|
| Expense Ratio | 0.18% | 0.09%Best |
| AUM | $8.5B | $811.2B |
| Dividend Yield | 0.81% | 0.98% |
| Holdings | 590 | 1,515 |
| YTD Return | +16.27%Best | +14.85% |
| 1Y Return | +19.16%Best | +17.26% |
| 3Y Return (annualized) | +22.72% | +22.95%Best |
| 5Y Return (annualized) | - | +13.89% |
| Volatility (annualized) | 11.7% | 11.6%Best |
| Max Drawdown | -18.6%Best | -18.8% |
| $10,000 over 2.9 years | $18,107Best | $17,822 |
| Top 10 Weight | 38.8% | 38.2%Best |
| Fund Family | Fidelity Investments (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 20, 2023 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2.9 years row, are measured over the window both funds cover: Nov 20, 2023 to Oct 9, 2026 (2.9 years).
FELC 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 2.9 years both funds cover.
FELC vs SPY Performance
Fidelity Enhanced Large Cap Core ETF (FELC) 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 FELC returned +19.16% while SPY returned +17.26%. Year to date, FELC is up 16.27% versus a gain of 14.85% for SPY.
Over three years, FELC compounded at +22.72% per year against +22.95% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FELC has been the more volatile fund, with annualized monthly volatility of 11.7% compared with 11.6% 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 -18.6% for FELC 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 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FELC charges 0.18% per year while SPY charges 0.09%. On a $10,000 position that is $18 vs $9 annually, a gap of $9 per year that compounds over a long holding period. On income, FELC currently yields 0.81% against 0.98% for SPY.
Holdings Overlap
92.3% of FELC's money is in holdings SPY also owns. 77.8% of SPY's money is in holdings FELC also owns.
Most of FELC is already inside SPY. Owning both mostly buys the same companies twice.
193 positions in common, counted across the 278 positions we hold weights for in FELC and 504 in SPY, against full books of 590 and 1,515.
What only one of them owns
Our book lists 305 positions for SPY that do not appear in our book for FELC (21.5% of the fund), and 46 for FELC that do not appear in SPY (4.4%).
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 FELC | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.36% | 7.78% | 0.58% |
| AAPLApple, Inc | 7.79% | 7.45% | 0.34% |
| MSFTMicrosoft Corp | 4.95% | 5.71% | 0.76% |
| AMZNAmazon.Com Inc | 3.91% | 3.78% | 0.13% |
| GOOGLAlphabet Inc,class A | 3.21% | 3.12% | 0.09% |
| AVGOBroadcom Inc | 2.75% | 2.48% | 0.27% |
| GOOGAlphabet Inc. C | 2.12% | 2.49% | 0.37% |
| METAMeta Platforms Inc | 2.18% | 2.22% | 0.04% |
| MUMicron Technology, Inc. | 1.68% | 1.59% | 0.09% |
| JPMJpmorgan Chase | 1.83% | 1.43% | 0.40% |
92.3% of FELC 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, FELC or SPY?
FELC has an expense ratio of 0.18% while SPY charges 0.09%. SPY is the cheaper option, by $9 a year on a $10,000 investment.
Which performed better, FELC or SPY?
Over the past year FELC returned +19.16% vs +17.26% for SPY, 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 SPY?
FELC has been the more volatile fund at 11.7% annualized versus 11.6% for SPY. Worst drawdown: FELC -18.6% vs SPY -18.8%.
Should I hold both FELC and SPY?
FELC and SPY have a monthly-return correlation of 0.99, 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 FELC and SPY?
92.3% of FELC's money is in holdings SPY also owns. 77.8% of SPY's is in holdings FELC also owns. They hold 193 positions in common, counted across the 278 positions we hold weights for in FELC and 504 in SPY.
Which pays a higher dividend, FELC or SPY?
FELC yields 0.81% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than FELC?
SPY has a lower expense ratio. FELC led over 1Y and the full window, SPY over 3Y. The two have moved almost in lockstep, correlation 0.99. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 38.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.