FLQL vs FSST
Franklin US Large Cap Multifactor Index ETF vs Fidelity Sustainable US Equity ETF
Which is better, FLQL or FSST?
Nearly the same fund. FLQL costs less.
FLQL has a lower expense ratio. FLQL led over the full window, FSST over 1Y. The two have moved almost in lockstep, correlation 0.95. FLQL is less concentrated, with 11.5% of the fund in its ten largest positions against 43.8%.
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 | FLQL | FSST |
|---|---|---|
| Expense Ratio | 0.15%Best | 0.59% |
| AUM | $2.0B | $13M |
| Dividend Yield | 1.08% | 1.55% |
| Holdings | 431 | 90 |
| Volatility (annualized) | 15.5%Best | 17.4% |
| Max Drawdown | -21.4%Best | -26.3% |
| $10,000 over 4.4 years | $17,363Best | $16,169 |
| Top 10 Weight | 11.5%Best | 43.8% |
| Fund Family | Franklin Templeton Investments (US) | Fidelity Investments (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 26, 2017 | Jun 15, 2021 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 363 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. FLQL has data through Nov 11, 2026 and FSST through Nov 13, 2025.
Volatility and max drawdown, and the $10,000 over 4.4 years row, are measured over the window both funds cover: Jun 17, 2021 to Nov 13, 2025 (4.4 years).
Risk: Volatility and Drawdowns
FSST has been the more volatile fund, with annualized monthly volatility of 17.4% compared with 15.5% for FLQL. 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 -21.4% for FLQL and -26.3% for FSST. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FLQL charges 0.15% per year while FSST charges 0.59%. On a $10,000 position that is $15 vs $59 annually, a gap of $44 per year that compounds over a long holding period. On income, FLQL currently yields 1.08% against 1.55% for FSST.
Holdings Overlap
3.4% of FLQL's money is in holdings FSST also owns. 3.1% of FSST's money is in holdings FLQL also owns.
FLQL and FSST share little of their money.
The two holdings books were reported 442 days apart, FLQL as of Oct 16, 2026 and FSST as of Jul 31, 2025, so some of the difference between them is the time between the two reports rather than the funds.
5 positions in common, counted across the 205 positions we hold weights for in FLQL and 94 in FSST, against full books of 431 and 90.
What only one of them owns
Our book lists 83 positions for FSST that do not appear in our book for FLQL (92.2% of the fund), and 195 for FLQL that do not appear in FSST (94.3%).
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.
You are not choosing between two funds in isolation.
Whichever of FLQL and FSST you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FLQL or FSST?
FLQL has an expense ratio of 0.15% while FSST charges 0.59%. FLQL is the cheaper option, by $44 a year on a $10,000 investment.
Which is riskier, FLQL or FSST?
FSST has been the more volatile fund at 17.4% annualized versus 15.5% for FLQL. Worst drawdown: FLQL -21.4% vs FSST -26.3%.
Should I hold both FLQL and FSST?
FLQL and FSST have a monthly-return correlation of 0.95, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between FLQL and FSST?
3.4% of FLQL's money is in holdings FSST also owns. 3.1% of FSST's is in holdings FLQL also owns. They hold 5 positions in common, counted across the 205 positions we hold weights for in FLQL and 94 in FSST.
Which pays a higher dividend, FLQL or FSST?
FLQL yields 1.08% while FSST yields 1.55%, so FSST currently pays the higher dividend yield.
Is FSST better than FLQL?
FLQL has a lower expense ratio. FLQL led over the full window, FSST over 1Y. The two have moved almost in lockstep, correlation 0.95. FLQL is less concentrated, with 11.5% of the fund in its ten largest positions against 43.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.