Fidelity Enhanced Large Cap Value ETF
$42.43−0.03 (−0.07%)
- 0.18%
- $3.4B
- +31.8%
- 1.39%
- 0.2M sh
- $42.43
- low $32.82high $43.26
The ETF.net FELV Grade
B
Score 61 out of 100
- 16 of 40
Score 61 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B59 out of 100Rank 16 of 40Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A83 out of 100Rank 2 of 39Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B59 out of 100Rank 13 of 40Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D39 out of 100Rank 32 of 40Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B59 out of 100Rank 19 of 40
Our read on FELV
BIndex-fund shape, active brain. Fidelity's quant models tilt roughly 300 large-cap value stocks while the Russell 1000 Value stays the yardstick, and the whole thing costs 0.18%, the median fee in its peer group.
The fund is a diversified domestic equity strategy focused on large-cap value stocks. It uses quantitative, multifactor statistical models to seek benchmark outperformance.
Why people hold it
- Quantitative multifactor models choose the holdings, but the Russell 1000 Value Index remains the benchmark, so the portfolio still looks and behaves like US large-cap value.
- At 0.18%, it costs exactly the median of its value-factor peer group, unusual for a strategy that actively tries to beat its index rather than match it.
- Same 0.18% as IWD, the plain tracker on the same Russell 1000 Value benchmark, so the active tilt is not priced at a premium to that route.
- A multi-billion-dollar fund spread across about 300 large-cap names, paying quarterly, run under a strategy whose track record starts at its 2007 launch.
Worth knowing
- Plain-vanilla value beta is cheaper: VTV charges 0.03% and SCHV 0.04%. The quant tilt costs several times that.
- Aiming to beat the Russell 1000 Value means results can diverge from it in either direction, which a straight index tracker will not do.
- Moderately traded rather than a volume leader in its category, so spreads on larger orders can run wider than at the busiest value ETFs.
FELV Holdings
- Stocks
- 396
- 30%
- AAPL
Sectors
- Technology24.7%
- Financials18.1%
- Health Care13.9%
- Industrials10.3%
- Consumer Discretionary9.5%
- Energy5.9%
- Consumer Staples5.7%
- Materials3.3%
- Real Estate3.2%
- Utilities2.8%
- Communication2.8%
Geography
- United States97.08%
- Ireland2.09%
- Netherlands0.43%
- United Kingdom0.34%
- Switzerland0.03%
- Bermuda0.01%
- Israel0.01%
FELV Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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FELV$13,179
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | FELV |
|---|---|
| Year to date | +23.9% |
| 1 month | −0.1% |
| 3 months | +4.4% |
| 1 year | +31.8% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FELV |
|---|---|---|
| 2026 YTD | +23.9% | |
| 2025 | +15.8% | |
| 2024 | +15.9% | |
| 2023 | +7.2% |
FELV in the news
Category Review
US multifactor funds ran 30 points apart
FELV Dividends
- 1.39%
- $0.59
- $0.15 per share
- Quarterly
Distribution history
FELV Risk
- 11.8%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.30
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −16.1%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.80
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FELV Cost
0.18%
FELV0.18%
- The middle half of US Value Index funds
- Median 0.20%
15 of the 40 US Value Index funds charge less.
Other funds in US Value Index
- BDFUVDimensional - US Marketwide Value ETFExpense ratio 0.21%1 year return +30.3%
- BRAUSRACWI US ETFExpense ratio 0.01%1 year return +21.8%
- BFVALFidelity Value Factor ETFExpense ratio 0.15%1 year return +24.3%
- BIWNiShares Russell 2000 Value ETFExpense ratio 0.24%1 year return +24.5%
- BPYPrincipal Value ETFExpense ratio 0.15%1 year return +14.8%