FLRG vs SPY
Fidelity US Multifactor ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FLRG or SPY?
Nearly the same fund. SPY costs less.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.96. FLRG is less concentrated, with 36.5% of the fund in its ten largest positions against 38.0%.
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 | FLRG | SPY |
|---|---|---|
| Expense Ratio | 0.15% | 0.09%Best |
| AUM | $290M | $814.4B |
| Dividend Yield | 1.37% | 1.01% |
| Holdings | 103 | 505 |
| YTD Return | +12.75% | +13.34%Best |
| 1Y Return | +14.53% | +19.97%Best |
| 3Y Return (annualized) | +18.71% | +21.20%Best |
| 5Y Return (annualized) | +12.01% | +12.81%Best |
| Volatility (annualized) | 13.6%Best | 15.3% |
| Max Drawdown | -19.6%Best | -24.5% |
| $10,000 over 5 years | $17,631 | $18,270Best |
| Top 10 Weight | 36.5%Best | 38.0% |
| Fund Family | Fidelity Investments (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 15, 2020 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Sep 17, 2020 to Sep 4, 2026 (6 years).
FLRG 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 6 years both funds cover.
FLRG vs SPY Performance
Fidelity US Multifactor ETF (FLRG) 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 FLRG returned +14.53% while SPY returned +19.97%. Year to date, FLRG is up 12.75% versus a gain of 13.34% for SPY.
Over three years, FLRG compounded at +18.71% per year against +21.20% for SPY; over five years the annualized figures are +12.01% and +12.81% respectively. Across the full 6-year window we track, SPY has the edge at +16.37% annualized vs +15.24%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 13.6% for FLRG. 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 -19.6% for FLRG 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 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FLRG charges 0.15% per year while SPY charges 0.09%. On a $10,000 position that is $15 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, FLRG currently yields 1.37% against 1.01% for SPY.
Holdings Overlap
81.4% of FLRG's money is in holdings SPY also owns. 43.9% of SPY's money is in holdings FLRG also owns.
Most of FLRG is already inside SPY. Owning both mostly buys the same companies twice.
68 positions in common, counted across the 99 positions we hold weights for in FLRG and 504 in SPY, against full books of 103 and 505.
What only one of them owns
Our book lists 428 positions for SPY that do not appear in our book for FLRG (55.6% of the fund), and 26 for FLRG that do not appear in SPY (15.3%).
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.
Top Shared Holdings
| Stock | Weight in FLRG | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 7.59% | 7.71% | 0.12% |
| AAPLApple, Inc | 6.60% | 6.83% | 0.23% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.37% | 5.50% | 0.13% |
| GOOGLAlphabet Inc.Class A | 5.33% | 3.33% | 2.00% |
| AVGOBroadcom Inc | 3.02% | 2.97% | 0.05% |
| METAMeta Platform Inc | 1.91% | 1.94% | 0.03% |
| MUMicron Technology, Inc. | 1.84% | 1.51% | 0.33% |
| VVisa Inc Class A | 1.70% | 0.92% | 0.78% |
| XOMExxon Mobil Corp. | 1.63% | 0.96% | 0.67% |
| JNJJohnson & Johnson - Common | 1.54% | 0.92% | 0.62% |
81.4% of FLRG 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, FLRG or SPY?
FLRG has an expense ratio of 0.15% while SPY charges 0.09%. SPY is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, FLRG or SPY?
Over the past year FLRG returned +14.53% vs +19.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), FLRG annualized +15.24% vs +16.37% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FLRG or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.6% for FLRG. Worst drawdown: FLRG -19.6% vs SPY -24.5%.
Should I hold both FLRG and SPY?
FLRG and SPY have a monthly-return correlation of 0.96, 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 FLRG and SPY?
81.4% of FLRG's money is in holdings SPY also owns. 43.9% of SPY's is in holdings FLRG also owns. They hold 68 positions in common, counted across the 99 positions we hold weights for in FLRG and 504 in SPY.
Which pays a higher dividend, FLRG or SPY?
FLRG yields 1.37% while SPY yields 1.01%, so FLRG currently pays the higher dividend yield.
Is SPY better than FLRG?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.96. FLRG is less concentrated, with 36.5% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.