FLRG vs SPY
Fidelity US Multifactor 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 503 holdings.
Side-by-Side Comparison
| Metric | FLRG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.09% | |
| AUM | $289M | $789.1B | |
| Dividend Yield | 1.38% | 1.01% | |
| Holdings | 105 | 505 | |
| YTD Return | +12.93% | +13.39% | |
| 1Y Return | +17.90% | +22.52% | |
| 3Y Return (annualized) | +18.98% | +21.36% | |
| 5Y Return (annualized) | +12.28% | +13.19% | |
| Volatility (annualized) | 13.7% | 15.3% | |
| Max Drawdown | -19.6% | -56.5% | |
| Fund Family | Fidelity Investments (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 15, 2020 | Jan 22, 1993 |
FLRG vs SPY Performance
Fidelity US Multifactor ETF (FLRG) 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 FLRG returned +17.90% while SPY returned +22.52%. Year to date, FLRG is up 12.93% versus a gain of 13.39% for SPY.
Over three years, FLRG compounded at +18.98% per year against +21.36% for SPY; over five years the annualized figures are +12.28% and +13.19% respectively. Across the full 6-year window we track, FLRG has the edge at +15.45% annualized vs +8.84%. 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 13.7% 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 -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 0.96. 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 1.38% against 1.01% for SPY.
Holdings Overlap
FLRG and SPY share 68 holdings out of 535 unique holdings combined, representing a 41.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $6 per year of difference.
Which performed better, FLRG or SPY?
Over the past year FLRG returned +17.90% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), FLRG annualized +15.45% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, FLRG or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.7% for FLRG. Worst drawdown: FLRG -19.6% vs SPY -56.5%.
Should I hold both FLRG and SPY?
FLRG and SPY have a monthly-return correlation of 0.96, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between FLRG and SPY?
FLRG and SPY share 68 common holdings with a 41.5% weight overlap. Combined, they hold 535 unique securities.
Which pays a higher dividend, FLRG or SPY?
FLRG yields 1.38% while SPY yields 1.01%, so FLRG currently pays the higher dividend yield.
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