FELV vs TVAL
Fidelity Enhanced Large Cap Value ETF vs T. Rowe Price Value ETF
Which is better, FELV or TVAL?
Nearly the same fund. FELV costs less.
FELV has a lower expense ratio. FELV led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.97. FELV is less concentrated, with 30.0% of the fund in its ten largest positions against 30.3%.
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 | FELV | TVAL |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.33% |
| AUM | $3.7B | $1.1B |
| Dividend Yield | 1.38% | 0.92% |
| Holdings | 801 | 295 |
| YTD Return | +26.70%Best | +24.70% |
| 1Y Return | +30.13%Best | +29.03% |
| 3Y Return (annualized) | +22.69%Best | +21.88% |
| Volatility (annualized) | 11.5%Best | 11.6% |
| Max Drawdown | -16.1% | -15.8%Best |
| $10,000 over 3 years | $18,468Best | $17,685 |
| Top 10 Weight | 30.0%Best | 30.3% |
| Fund Family | Fidelity Investments (US) | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Nov 20, 2023 | Jun 14, 2023 |
Not shown on this pair: 5Y Return (annualized).
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).
FELV vs TVAL 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.
FELV vs TVAL Performance
Fidelity Enhanced Large Cap Value ETF (FELV) is an ETF from Fidelity Investments (US) and T. Rowe Price Value ETF (TVAL) is an ETF from T.Rowe Price. Over the past year FELV returned +30.13% while TVAL returned +29.03%. Year to date, FELV is up 26.70% versus a gain of 24.70% for TVAL.
Over three years, FELV compounded at +22.69% per year against +21.88% for TVAL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TVAL has been the more volatile fund, with annualized monthly volatility of 11.6% compared with 11.5% for FELV. 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 -16.1% for FELV and -15.8% for TVAL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FELV charges 0.18% per year while TVAL charges 0.33%. On a $10,000 position that is $18 vs $33 annually, a gap of $15 per year that compounds over a long holding period. On income, FELV currently yields 1.38% against 0.92% for TVAL.
Holdings Overlap
60.7% of FELV's money is in holdings TVAL also owns. 80.1% of TVAL's money is in holdings FELV also owns.
Most of TVAL is already inside FELV. Owning both mostly buys the same companies twice.
95 positions in common, counted across the 400 positions we hold weights for in FELV and 142 in TVAL, against full books of 801 and 295.
What only one of them owns
Our book lists 44 positions for TVAL that do not appear in our book for FELV (18.3% of the fund), and 247 for FELV that do not appear in TVAL (38.5%).
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 FELV | Weight in TVAL | Difference |
|---|---|---|---|
| AMZNAmazon.Com Inc | 6.03% | 6.46% | 0.43% |
| AAPLApple Inc | 6.53% | 5.95% | 0.58% |
| MSFTMicrosoft Corp | 4.68% | 5.58% | 0.90% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 3.14% | 1.23% | 1.91% |
| JPMJpmorgan Chase | 2.62% | 1.63% | 0.99% |
| XOMExxonmobil Corp. | 2.04% | 2.14% | 0.10% |
| JNJJohnson & Johnson - Common | 1.13% | 1.74% | 0.61% |
| PGProcter & Gamble Company | 1.06% | 1.71% | 0.65% |
| UNHUnitedhealth Group, Inc. | 1.39% | 1.31% | 0.08% |
| CSCOCisco Systems Inc. - Ordinary Shares | 1.17% | 1.44% | 0.27% |
80.1% of TVAL is already inside FELV.
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, FELV or TVAL?
FELV has an expense ratio of 0.18% while TVAL charges 0.33%. FELV is the cheaper option, by $15 a year on a $10,000 investment.
Which performed better, FELV or TVAL?
Over the past year FELV returned +30.13% vs +29.03% for TVAL, so FELV leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FELV or TVAL?
TVAL has been the more volatile fund at 11.6% annualized versus 11.5% for FELV. Worst drawdown: FELV -16.1% vs TVAL -15.8%.
Should I hold both FELV and TVAL?
FELV and TVAL have a monthly-return correlation of 0.97, 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 FELV and TVAL?
80.1% of TVAL's money is in holdings FELV also owns. 80.1% of TVAL's is in holdings FELV also owns. They hold 95 positions in common, counted across the 400 positions we hold weights for in FELV and 142 in TVAL.
Which pays a higher dividend, FELV or TVAL?
FELV yields 1.38% while TVAL yields 0.92%, so FELV currently pays the higher dividend yield.
Is TVAL better than FELV?
FELV has a lower expense ratio. FELV led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.97. FELV is less concentrated, with 30.0% of the fund in its ten largest positions against 30.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.