FELG vs SPY
Fidelity Enhanced Large Cap Growth ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FELG or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. FELG led over the full window, SPY over 1Y. The two have moved almost in lockstep, correlation 0.92. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 57.2%.
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 | FELG | SPY |
|---|---|---|
| Expense Ratio | 0.18% | 0.09%Best |
| AUM | $5.5B | $804.7B |
| Dividend Yield | 0.35% | 0.98% |
| Holdings | 149 | 505 |
| YTD Return | +6.48% | +12.22%Best |
| 1Y Return | +9.52% | +16.97%Best |
| 3Y Return (annualized) | - | +21.16% |
| 5Y Return (annualized) | - | +13.00% |
| Volatility (annualized) | 15.8% | 11.8%Best |
| Max Drawdown | -23.9% | -18.8%Best |
| $10,000 over 2.8 years | $17,664Best | $17,279 |
| Top 10 Weight | 57.2% | 37.8%Best |
| Fund Family | Fidelity Investments (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Nov 20, 2023 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2.8 years row, are measured over the window both funds cover: Nov 20, 2023 to Sep 17, 2026 (2.8 years).
FELG 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 2.8 years both funds cover.
FELG vs SPY Performance
Fidelity Enhanced Large Cap Growth ETF (FELG) 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 FELG returned +9.52% while SPY returned +16.97%. Year to date, FELG is up 6.48% versus a gain of 12.22% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FELG has been the more volatile fund, with annualized monthly volatility of 15.8% 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 -23.9% for FELG 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 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FELG 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, FELG currently yields 0.35% against 0.98% for SPY.
Holdings Overlap
92.1% of FELG's money is in holdings SPY also owns. 60.2% of SPY's money is in holdings FELG also owns.
Most of FELG is already inside SPY. Owning both mostly buys the same companies twice.
85 positions in common, counted across the 140 positions we hold weights for in FELG and 504 in SPY, against full books of 149 and 505.
What only one of them owns
Our book lists 412 positions for SPY that do not appear in our book for FELG (39.2% of the fund), and 44 for FELG that do not appear in SPY (7.1%).
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 FELG | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 15.74% | 8.01% | 7.73% |
| AAPLApple, Inc | 7.86% | 7.26% | 0.60% |
| MSFTMicrosoft Corp | 5.05% | 5.66% | 0.61% |
| GOOGLAlphabet Inc,class A | 7.27% | 2.99% | 4.28% |
| AVGOBroadcom Inc | 5.28% | 2.66% | 2.62% |
| GOOGAlphabet Inc | 3.10% | 2.39% | 0.71% |
| MUMicron Technology, Inc. | 3.74% | 1.60% | 2.14% |
| METAMeta Platforms Inc | 3.11% | 1.93% | 1.18% |
| LLYEli Lilly & Co. | 3.18% | 1.40% | 1.78% |
| AMZNAmazon.Com Inc | 0.77% | 3.79% | 3.02% |
92.1% of FELG 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, FELG or SPY?
FELG 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, FELG or SPY?
Over the past year FELG returned +9.52% vs +16.97% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FELG or SPY?
FELG has been the more volatile fund at 15.8% annualized versus 11.8% for SPY. Worst drawdown: FELG -23.9% vs SPY -18.8%.
Should I hold both FELG and SPY?
FELG and SPY have a monthly-return correlation of 0.92, 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 FELG and SPY?
92.1% of FELG's money is in holdings SPY also owns. 60.2% of SPY's is in holdings FELG also owns. They hold 85 positions in common, counted across the 140 positions we hold weights for in FELG and 504 in SPY.
Which pays a higher dividend, FELG or SPY?
FELG yields 0.35% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than FELG?
SPY has a lower expense ratio. FELG led over the full window, SPY over 1Y. The two have moved almost in lockstep, correlation 0.92. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 57.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.