FFLV vs FQAL
Fidelity Fundamental Large Cap Value ETF vs Fidelity Quality Factor ETF
Quick Verdict
FQAL has a lower expense ratio. FFLV delivered stronger 1-year returns. FQAL offers more diversification with 130 holdings.
Side-by-Side Comparison
| Metric | FFLV | FQAL | Winner |
|---|---|---|---|
| Expense Ratio | 0.38% | 0.15% | |
| AUM | $16M | $1.4B | |
| Dividend Yield | 1.36% | 1.15% | |
| Holdings | 109 | 130 | |
| YTD Return | +17.89% | +12.56% | |
| 1Y Return | +29.13% | +19.37% | |
| 3Y Return (annualized) | - | +20.54% | |
| 5Y Return (annualized) | - | +11.62% | |
| Volatility (annualized) | 12.3% | 15.0% | |
| Max Drawdown | -16.7% | -34.1% | |
| Fund Family | Fidelity Investments (US) | Fidelity Investments (US) | |
| Category | Equity | Equity | |
| Inception | Feb 9, 2024 | Sep 12, 2016 |
FFLV vs FQAL Performance
Fidelity Fundamental Large Cap Value ETF (FFLV) is a ETF from Fidelity Investments (US) and Fidelity Quality Factor ETF (FQAL) is a ETF from Fidelity Investments (US). Over the past year FFLV returned +29.13% while FQAL returned +19.37%. Year to date, FFLV is up 17.89% versus a gain of 12.56% for FQAL.
Risk: Volatility and Drawdowns
FQAL has been the more volatile fund, with annualized monthly volatility of 15.0% compared with 12.3% for FFLV. 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 -16.7% for FFLV and -34.1% for FQAL. 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 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FFLV charges 0.38% per year while FQAL charges 0.15%. On a $10,000 position that is $38 vs $15 annually, a gap of $23 per year that compounds over a long holding period. On income, FFLV currently yields 1.36% against 1.15% for FQAL.
Holdings Overlap
FFLV and FQAL share 24 holdings out of 213 unique holdings combined, representing a 22.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FFLV or FQAL?
FFLV has an expense ratio of 0.38% while FQAL charges 0.15%. FQAL is the cheaper option. On a $10,000 investment, that is $23 per year of difference.
Which performed better, FFLV or FQAL?
Over the past year FFLV returned +29.13% vs +19.37% for FQAL, so FFLV leads on 1-year performance. Over the longest common window we track (3 years), FFLV annualized +17.29% vs +13.76% for FQAL. Past performance does not guarantee future results.
Which is riskier, FFLV or FQAL?
FQAL has been the more volatile fund at 15.0% annualized versus 12.3% for FFLV. Worst drawdown: FFLV -16.7% vs FQAL -34.1%.
Should I hold both FFLV and FQAL?
FFLV and FQAL have a monthly-return correlation of 0.73, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FFLV and FQAL?
FFLV and FQAL share 24 common holdings with a 22.0% weight overlap. Combined, they hold 213 unique securities.
Which pays a higher dividend, FFLV or FQAL?
FFLV yields 1.36% while FQAL yields 1.15%, so FFLV currently pays the higher dividend yield.
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