FFLG vs SPY
Fidelity Fundamental Large Cap Growth ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FFLG or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. FFLG led over 3Y, SPY over 1Y, 5Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 57.7%.
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 | FFLG | SPY |
|---|---|---|
| Expense Ratio | 0.38% | 0.09%Best |
| AUM | $590M | $814.4B |
| Dividend Yield | 0.14% | 1.01% |
| Holdings | 104 | 505 |
| YTD Return | +11.27% | +13.34%Best |
| 1Y Return | +17.71% | +19.97%Best |
| 3Y Return (annualized) | +24.56%Best | +21.20% |
| 5Y Return (annualized) | +8.96% | +12.81%Best |
| Volatility (annualized) | 22.1% | 15.2%Best |
| Max Drawdown | -44.6% | -24.5%Best |
| $10,000 over 5 years | $15,358 | $18,270Best |
| Top 10 Weight | 57.7% | 38.0%Best |
| Fund Family | Fidelity Investments (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Feb 2, 2021 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Feb 4, 2021 to Sep 4, 2026 (5.6 years).
FFLG 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 5.6 years both funds cover.
FFLG vs SPY Performance
Fidelity Fundamental Large Cap Growth ETF (FFLG) 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 FFLG returned +17.71% while SPY returned +19.97%. Year to date, FFLG is up 11.27% versus a gain of 13.34% for SPY.
Over three years, FFLG compounded at +24.56% per year against +21.20% for SPY; over five years the annualized figures are +8.96% and +12.81% respectively. Across the full 6-year window we track, SPY has the edge at +14.68% annualized vs +9.64%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FFLG has been the more volatile fund, with annualized monthly volatility of 22.1% compared with 15.2% 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 -44.6% for FFLG and -24.5% 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 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FFLG charges 0.38% per year while SPY charges 0.09%. On a $10,000 position that is $38 vs $9 annually, a gap of $29 per year that compounds over a long holding period. On income, FFLG currently yields 0.14% against 1.01% for SPY.
Holdings Overlap
86.2% of FFLG's money is in holdings SPY also owns. 53.9% of SPY's money is in holdings FFLG also owns.
Most of FFLG is already inside SPY. Owning both mostly buys the same companies twice.
62 positions in common, counted across the 101 positions we hold weights for in FFLG and 504 in SPY, against full books of 104 and 505.
What only one of them owns
Our book lists 434 positions for SPY that do not appear in our book for FFLG (45.5% of the fund), and 28 for FFLG that do not appear in SPY (8.2%).
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 FFLG | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 17.38% | 7.71% | 9.67% |
| GOOGLAlphabet Inc.Class A | 12.03% | 3.33% | 8.70% |
| AAPLApple, Inc | 6.72% | 6.83% | 0.11% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 3.73% | 5.50% | 1.77% |
| AMZNAmazon.Com Inc | 3.06% | 4.08% | 1.02% |
| AVGOBroadcom Inc | 3.52% | 2.97% | 0.55% |
| METAMeta Platform Inc | 2.78% | 1.94% | 0.84% |
| LLYEli Lilly & Co. | 3.33% | 1.33% | 2.00% |
| MUMicron Technology, Inc. | 3.12% | 1.51% | 1.61% |
| GOOGAlphabet Inc. C | 0.99% | 2.67% | 1.68% |
86.2% of FFLG 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, FFLG or SPY?
FFLG has an expense ratio of 0.38% while SPY charges 0.09%. SPY is the cheaper option, by $29 a year on a $10,000 investment.
Which performed better, FFLG or SPY?
Over the past year FFLG returned +17.71% vs +19.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), FFLG annualized +9.64% vs +14.68% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FFLG or SPY?
FFLG has been the more volatile fund at 22.1% annualized versus 15.2% for SPY. Worst drawdown: FFLG -44.6% vs SPY -24.5%.
Should I hold both FFLG and SPY?
FFLG and SPY have a monthly-return correlation of 0.89, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between FFLG and SPY?
86.2% of FFLG's money is in holdings SPY also owns. 53.9% of SPY's is in holdings FFLG also owns. They hold 62 positions in common, counted across the 101 positions we hold weights for in FFLG and 504 in SPY.
Which pays a higher dividend, FFLG or SPY?
FFLG yields 0.14% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Is SPY better than FFLG?
SPY has a lower expense ratio. FFLG led over 3Y, SPY over 1Y, 5Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 57.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.