FFLG vs SPY
Fidelity Fundamental 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 | FFLG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.38% | 0.09% | |
| AUM | $684M | $789.1B | |
| Dividend Yield | 0.13% | 1.01% | |
| Holdings | 102 | 505 | |
| YTD Return | +12.32% | +14.47% | |
| 1Y Return | +19.02% | +21.96% | |
| 3Y Return (annualized) | +25.95% | +21.70% | |
| 5Y Return (annualized) | +10.10% | +13.30% | |
| Volatility (annualized) | 22.4% | 15.3% | |
| Max Drawdown | -44.6% | -56.5% | |
| Fund Family | Fidelity Investments (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Feb 2, 2021 | Jan 22, 1993 |
FFLG vs SPY Performance
Fidelity Fundamental Large Cap Growth ETF (FFLG) 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 FFLG returned +19.02% while SPY returned +21.96%. Year to date, FFLG is up 12.32% versus a gain of 14.47% for SPY.
Over three years, FFLG compounded at +25.95% per year against +21.70% for SPY; over five years the annualized figures are +10.10% and +13.30% respectively. Across the full 6-year window we track, FFLG has the edge at +9.93% annualized vs +8.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FFLG has been the more volatile fund, with annualized monthly volatility of 22.4% 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 -44.6% for FFLG 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 0.89. 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 0.13% against 1.01% for SPY.
Holdings Overlap
FFLG and SPY share 59 holdings out of 542 unique holdings combined, representing a 47.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $29 per year of difference.
Which performed better, FFLG or SPY?
Over the past year FFLG returned +19.02% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), FFLG annualized +9.93% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, FFLG or SPY?
FFLG has been the more volatile fund at 22.4% annualized versus 15.3% for SPY. Worst drawdown: FFLG -44.6% vs SPY -56.5%.
Should I hold both FFLG and SPY?
FFLG and SPY have a monthly-return correlation of 0.89, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FFLG and SPY?
FFLG and SPY share 59 common holdings with a 47.3% weight overlap. Combined, they hold 542 unique securities.
Which pays a higher dividend, FFLG or SPY?
FFLG yields 0.13% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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