FFLV vs PHDG
FFLV vs PHDG
Fidelity Fundamental Large Cap Value ETF vs Invesco S&P 500 Downside Hedged ETF
Quick Verdict
FFLV has a lower expense ratio. FFLV delivered stronger 1-year returns. PHDG offers more diversification with 494 holdings.
Side-by-Side Comparison
| Metric | FFLV | PHDG | Winner |
|---|---|---|---|
| Expense Ratio | 0.38% | 0.39% | |
| AUM | $16M | $61M | |
| Dividend Yield | 1.41% | 1.68% | |
| Holdings | 119 | 514 | |
| YTD Return | +17.97% | +13.02% | |
| 1Y Return | +32.15% | +18.49% | |
| 3Y Return (annualized) | - | +9.60% | |
| 5Y Return (annualized) | - | +4.75% | |
| Volatility (annualized) | 12.3% | 9.9% | |
| Max Drawdown | -16.7% | -23.6% | |
| Fund Family | Fidelity Investments (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Feb 9, 2024 | Dec 5, 2012 |
FFLV vs PHDG Performance
Fidelity Fundamental Large Cap Value ETF (FFLV) is a ETF from Fidelity Investments (US) and Invesco S&P 500 Downside Hedged ETF (PHDG) is a ETF from Invesco (US). Over the past year FFLV returned +32.15% while PHDG returned +18.49%. Year to date, FFLV is up 17.97% versus a gain of 13.02% for PHDG.
Risk: Volatility and Drawdowns
FFLV has been the more volatile fund, with annualized monthly volatility of 12.3% compared with 9.9% for PHDG. 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 -23.6% for PHDG. 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 0.56. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FFLV charges 0.38% per year while PHDG charges 0.39%. On a $10,000 position that is $38 vs $39 annually, a gap of $1 per year that compounds over a long holding period. On income, FFLV currently yields 1.41% against 1.68% for PHDG.
Holdings Overlap
FFLV and PHDG share 68 holdings out of 531 unique holdings combined, representing a 20.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in FFLV | Weight in PHDG | Difference |
|---|---|---|---|
| AMZN | 6.86% | 2.83% | 4.03% |
| MSFT | 4.94% | 3.30% | 1.64% |
| AAPL | 2.82% | 4.98% | 2.16% |
| XOM | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| CSCO | Pro | Pro | Pro |
| WFC | Pro | Pro | Pro |
| JNJ | Pro | Pro | Pro |
| MRK | Pro | Pro | Pro |
| TRV | Pro | Pro | Pro |
See all 10 holdings FFLV shares with PHDG Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, FFLV or PHDG?
FFLV has an expense ratio of 0.38% while PHDG charges 0.39%. FFLV is the cheaper option. On a $10,000 investment, that is $1 per year of difference.
Which performed better, FFLV or PHDG?
Over the past year FFLV returned +32.15% vs +18.49% for PHDG, so FFLV leads on 1-year performance. Over the longest common window we track (2 years), FFLV annualized +17.62% vs +4.45% for PHDG. Past performance does not guarantee future results.
Which is riskier, FFLV or PHDG?
FFLV has been the more volatile fund at 12.3% annualized versus 9.9% for PHDG. Worst drawdown: FFLV -16.7% vs PHDG -23.6%.
Should I hold both FFLV and PHDG?
FFLV and PHDG have a monthly-return correlation of 0.56, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FFLV and PHDG?
FFLV and PHDG share 68 common holdings with a 20.5% weight overlap. Combined, they hold 531 unique securities.
Which pays a higher dividend, FFLV or PHDG?
FFLV yields 1.41% while PHDG yields 1.68%, so PHDG currently pays the higher dividend yield.
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