FELG vs SPY
Fidelity Enhanced Large Cap Growth ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | FELG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.09% | |
| AUM | $5.5B | $821.1B | |
| Dividend Yield | 0.36% | 1.01% | |
| Holdings | 153 | 505 | |
| YTD Return | +5.18% | +12.22% | |
| 1Y Return | +14.18% | +20.83% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 16.0% | 15.3% | |
| Max Drawdown | -23.9% | -56.5% | |
| Fund Family | Fidelity Investments (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 20, 2023 | Jan 22, 1993 |
FELG vs SPY Performance
Fidelity Enhanced Large Cap Growth ETF (FELG) is a ETF from Fidelity Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FELG returned +14.18% while SPY returned +20.83%. Year to date, FELG is up 5.18% versus a gain of 12.22% for SPY.
Risk: Volatility and Drawdowns
FELG has been the more volatile fund, with annualized monthly volatility of 16.0% compared with 15.3% 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 -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
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 0.36% against 1.01% for SPY.
Holdings Overlap
FELG and SPY share 87 holdings out of 559 unique holdings combined, representing a 53.1% weight overlap.
High overlap means holding both may not provide much additional diversification.
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. On a $10,000 investment, that is $9 per year of difference.
Which performed better, FELG or SPY?
Over the past year FELG returned +14.18% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), FELG annualized +22.68% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, FELG or SPY?
FELG has been the more volatile fund at 16.0% annualized versus 15.3% for SPY. Worst drawdown: FELG -23.9% vs SPY -56.5%.
Should I hold both FELG and SPY?
FELG and SPY have a monthly-return correlation of 0.92, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between FELG and SPY?
FELG and SPY share 87 common holdings with a 53.1% weight overlap. Combined, they hold 559 unique securities.
Which pays a higher dividend, FELG or SPY?
FELG yields 0.36% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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