FFLC vs QQQ
Fidelity Fundamental Large Cap Core ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. FFLC offers more diversification with 105 holdings.
Side-by-Side Comparison
| Metric | FFLC | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.38% | 0.18% | |
| AUM | $1.2B | $455.8B | |
| Dividend Yield | 0.99% | 0.41% | |
| Holdings | 111 | 108 | |
| YTD Return | +12.09% | +17.46% | |
| 1Y Return | +19.81% | +26.02% | |
| 3Y Return (annualized) | +21.97% | +25.51% | |
| 5Y Return (annualized) | +16.31% | +15.12% | |
| Volatility (annualized) | 16.0% | 30.6% | |
| Max Drawdown | -19.7% | -83.0% | |
| Fund Family | Fidelity Investments (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Jun 2, 2020 | Mar 10, 1999 |
FFLC vs QQQ Performance
Fidelity Fundamental Large Cap Core ETF (FFLC) is a ETF from Fidelity Investments (US) and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year FFLC returned +19.81% while QQQ returned +26.02%. Year to date, FFLC is up 12.09% versus a gain of 17.46% for QQQ.
Over three years, FFLC compounded at +21.97% per year against +25.51% for QQQ; over five years the annualized figures are +16.31% and +15.12% respectively. Across the full 6-year window we track, FFLC has the edge at +20.14% annualized vs +13.08%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 16.0% for FFLC. 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 -19.7% for FFLC and -83.0% for QQQ. 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 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FFLC charges 0.38% per year while QQQ charges 0.18%. On a $10,000 position that is $38 vs $18 annually, a gap of $20 per year that compounds over a long holding period. On income, FFLC currently yields 0.99% against 0.41% for QQQ.
Holdings Overlap
FFLC and QQQ share 23 holdings out of 185 unique holdings combined, representing a 34.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FFLC or QQQ?
FFLC has an expense ratio of 0.38% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $20 per year of difference.
Which performed better, FFLC or QQQ?
Over the past year FFLC returned +19.81% vs +26.02% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (6 years), FFLC annualized +20.14% vs +13.08% for QQQ. Past performance does not guarantee future results.
Which is riskier, FFLC or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 16.0% for FFLC. Worst drawdown: FFLC -19.7% vs QQQ -83.0%.
Should I hold both FFLC and QQQ?
FFLC and QQQ have a monthly-return correlation of 0.76, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FFLC and QQQ?
FFLC and QQQ share 23 common holdings with a 34.8% weight overlap. Combined, they hold 185 unique securities.
Which pays a higher dividend, FFLC or QQQ?
FFLC yields 0.99% while QQQ yields 0.41%, so FFLC currently pays the higher dividend yield.
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