AFGR vs FELG: Grades, Fees and Holdings Compared

First Trust Active Factor Large Cap Growth ETF

AFGRCNYSE Arca

Fidelity Enhanced Large Cap Growth ETF

FELGANYSE Arca

Overlap

55.7%by weight

Expense ratio

FELG −0.47pt a year

AFGR0.65%FELG0.18%

Avg volume · 30D

FELG 54.2×the volume

AFGR6.99KFELG379K

AFGR vs FELG Performance

Jul 31, 2026 – Oct 30, 2026

−2.2%AFGR−0.6%FELG

Expense ratio: AFGR 0.65%; FELG 0.18%, better
Fund size: AFGR $86M; FELG $5.78B
1Y total return: AFGR No data; FELG −0.5%
Yield (12M): AFGR 0.01%; FELG 0.37%, better
Holdings: AFGR 91; FELG 133
Avg volume (30D): AFGR 6.99K sh; FELG 379K sh, better
NAV per share: AFGR $35.69; FELG $42.20
52W range

ETF.net Grade

Pillar letters and Scores for AFGR, FELG, with each pillar’s weight
Pillar	AFGR	FELG
Cost30% weight	D26	A99Higher
Mission25% weight	Not scored	A82
Risk15% weight	B66Higher	C51
Tradability15% weight	C44	A85Higher
Holdings10% weight	A77Higher	C52
Durability5% weight	A71	A95Higher

Rank among US Active Growth funds

How we build Categories ›

Same Category. AFGR and FELG are both graded against the same 90 US Active Growth funds, so their Grades compare head to head.

US Active Growth⁠

Category · 90 funds

See all 90 ›

FELG ranks 4th and AFGR 48th of 90 funds in the US Active Growth Category.

Rank 1AJUSAJPMorgan U.S. Research Enhanced Large Cap ETFScore 86
Rank 2AGUSEGoldman Sachs Enhanced U.S. Equity ETFScore 84
Rank 3ALRGCAB US Large Cap Strategic Equities ETFScore 81
Rank 4AFELGFidelity Enhanced Large Cap Growth ETFScore 80
Rank 5AGQQQAstoria US Quality Growth Kings ETFScore 77
Rank 44CRJCARJ ClariVest Capital Appreciation ETFScore 48
Rank 48CAFGRFirst Trust Active Factor Large Cap Growth ETFScore 47
Rank 48CCARKCastleArk Large Growth ETFScore 47

Our read on each fund

ETF.net Research

AFGRCFirst Trust Active Factor Large Cap Growth ETF

FELGAFidelity Enhanced Large Cap Growth ETF

In short

AFGR An active quant screen aimed at large-cap growth: names are ranked on growth, momentum and quality, landing on roughly 90 stocks. Rules-driven stock picking rather than a star manager's convictions.

FELG Active stock-picking on an index-fund budget. FELG charges 0.18% to tilt around the Russell 1000 Growth Index rather than copy it, running a strategy whose track record dates to 2007.

Stated mandate

AFGR The Fund seeks long-term capital appreciation and normally invests at least 80% of its assets in equity securities of large-capitalization growth companies.

FELG The fund seeks capital appreciation and normally invests at least 80% of its assets in common stocks included in the Russell 1000® Growth Index.

Why people hold it

AFGR Three factors do the choosing: growth, momentum and quality, applied systematically. No value screen, no low-volatility damper, so the growth tilt stays a growth tilt.ftportfolios.com
Concentrated on purpose at roughly 90 US large caps, tight enough that individual picks register, wide enough that one blowup is not the whole story.
Running since 2020 with a clear contract: at least 80% of assets in large-cap growth equities, all under standard 1940 Act fund rules.
On portfolio construction and risk measures it lands in the upper half of a crowded active large-growth field of about 90 funds.

FELG 0.18% a year, roughly a third of the typical fee among active US growth-conviction funds.
Not a moonshot: at least 80% of assets sit in Russell 1000 Growth constituents across about 110 stocks, so the manager's bets are tilts around a familiar benchmark.fidelity.com
One of the strongest implementations in its peer group, and cheaper than most of the other top-graded names there (GUSE and MAGS at 0.30%, LRGC at 0.39%).
A multi-billion-dollar fund from Fidelity with steady on-screen liquidity, and it pays quarterly.

Worth knowing

AFGR At 0.65% a year it sits above the 0.55% peer median, and the top-graded enhanced-index rivals undercut it hard: JUSA at 0.12%, FELG at 0.18%.
Thinly traded with a modest asset base, so part of the real cost can show up in the bid-ask spread rather than the expense ratio.
Built for capital appreciation, not cash flow: it has not been making regular distributions, so income is not part of the package.

FELG Concentrated by design: roughly 110 large-cap growth names, so the megacap tech leaders at the top of the Russell 1000 Growth Index drive the ride both ways.
Active means the portfolio deviates from the index on purpose, so results can land on either side of it.
Not the cheapest seat in the cohort: JUSA runs 0.12%, though its mandate is broad large-cap rather than the growth slice.

Full AFGR profile⁠

Full FELG profile⁠

AFGR vs FELG Holdings

How AFGR and FELG differ

Overlap by weight

55.7%

Shared holdings make up 78.1% of FELG and 77.0% of AFGR.

Level by level

Holdings48 in both55.7%
Asset classEquity100%
Countryby domicile99.5%

Sector

No Sector split for AFGR.

Country, concentration and asset class

Country by domicile

Country weights in AFGR and FELG, widest gap first
Country	More in AFGRMore in FELG	AFGR	FELG
United States	FELG +0.4 points	99.5%	100.0%
United Kingdom	AFGR +0.5 points	0.5%	0.0%

Concentration

Weight in the 10 largest Holdings

AFGR45.9%
FELG57.6%

Securities held

AFGR90
FELG131

Asset class

AFGR: Equity
FELG: Equity

Holdings

Only in AFGR42
In both48
Only in FELG83

Only in AFGR

42 securities, 22.9% of AFGR by weight

Spotify Technology S.A.1.94%
Nasdaq, Inc.1.20%
Johnson & Johnson1.17%
W.W. Grainger, Inc.1.12%
Colgate-Palmolive Company1.08%
Fastenal Company1.06%
Cboe Global Markets, Inc.1.03%
Autodesk, Inc.1.01%
Cadence Design Systems, Inc.0.93%
Automatic Data Processing, Inc.0.82%
Samsara Inc. (Class A)0.81%
Welltower Inc.0.80%
Carvana Co. (Class A)0.74%
Rollins, Inc.0.61%
Valero Energy Corporation0.60%
Targa Resources Corp.0.58%
The TJX Companies, Inc.0.58%
MSCI Inc.0.58%
SharkNinja Inc.0.57%
Analog Devices, Inc.0.54%
Ameriprise Financial, Inc.0.46%
Jabil Inc.0.46%
MACOM Technology Solutions Holdings, Inc.0.44%
nVent Electric plc0.42%
Applovin Corp. (Class A)0.39%
Berkshire Hathaway Inc. (Class B)0.31%
Twilio Inc. (Class A)0.31%
Newmont Corporation0.30%
Dell Technologies Inc. (Class C)0.27%
Hilton Worldwide Holdings Inc.0.24%
EMCOR Group, Inc.0.19%
Moody's Corporation0.17%
Teradyne, Inc.0.16%
DexCom, Inc.0.16%
PTC Inc.0.16%
FTAI Aviation Ltd.0.12%
Intuit Inc.0.11%
Ubiquiti Inc.0.09%
Interactive Brokers Group, Inc. (Class A)0.09%
Monolithic Power Systems, Inc.0.09%
Tapestry, Inc.0.09%
Cummins Inc.0.08%

Only in FELG

83 securities, 21.2% of FELG by weight

Alphabet Inc Class C2.61%
Ge Aerospace1.44%
Texas Instruments Inc1.42%
Crowdstrike Holdings Inc0.98%
Trane Technologies PLC0.80%
Airbnb Inc Class A0.75%
Gilead Sciences Inc0.56%
Uber Technologies Inc0.55%
Atlassian Corp PLC Cls A0.54%
Schwab Charles Corp0.53%
Bank of New York Mellon Corp0.53%
Rtx Corp0.52%
Ecolab Inc0.52%
Bristol-Myers Squibb Co0.51%
Bank of America Corporation0.51%
Maplebear Inc0.49%
Unity Software Inc0.47%
Hubspot Inc0.45%
Ciena Corp0.39%
Chime Financial Inc0.37%
Incyte Corp0.35%
Eaton Corp PLC0.34%
Lyft Inc0.34%
Docusign Inc0.32%
Veralto Corp0.30%
Travere Therapeutics Inc0.30%
Vertiv Holdings Co0.27%
Zoom Communications Inc Class A0.27%
Home Depot Inc0.23%
Draftkings Holdings Inc0.22%
S&P Global Inc0.20%
Space Exploration Tech Corp A0.19%
Technipfmc PLC0.19%
Oscar Health Inc - Class A0.17%
Morgan Stanley0.16%
Merck & Co Inc New0.16%
Johnson Controls Internatl PLC0.16%
Kulicke & Soffa Industries Inc0.16%
Griffon Corp0.14%
Marvell Technology Inc0.13%
Cirrus Logic Inc0.13%
Costco Wholesale Corp0.12%
Wesco International Inc0.11%
Ebay Inc0.10%
Clear Secure Inc0.09%
Parker Hannifin Corp0.09%
Navan Inc A0.09%
Tradeweb Markets Inc A0.08%
Applied Industrial Tech Inc0.08%
The Booking Holdings Inc0.08%

Weight gaps

All 48 Holdings in both funds, largest gap first.

Holding weights in AFGR and FELG, widest gap first
Holding	More in AFGRMore in FELG	AFGR	FELG
NVIDIA CorporationNVDA	FELG +5.14 points	10.46%	15.60%
Apple Inc.AAPL	FELG +4.44 points	4.36%	8.80%
Amazon.com, Inc.AMZN	AFGR +3.44 points	4.02%	0.58%
Tesla, Inc.TSLA	FELG +2.91 points	0.11%	3.02%
Alphabet Inc. (Class A)GOOGL	AFGR +2.91 points	9.39%	6.48%
Eli Lilly and CompanyLLY	FELG +2.07 points	1.84%	3.90%
Broadcom Inc.AVGO	FELG +1.64 points	3.01%	4.65%
Palo Alto Networks, Inc.PANW	AFGR +1.53 points	1.93%	0.40%
Cintas CorporationCTAS	AFGR +1.31 points	1.31%	0.00%
NetApp, Inc.NTAP	AFGR +1.24 points	1.47%	0.23%
Microsoft CorporationMSFT	FELG +1.13 points	4.27%	5.40%
The Progressive CorporationPGR	AFGR +1.12 points	1.24%	0.12%
Cloudflare, Inc. (Class A)NET	AFGR +1.11 points	1.21%	0.10%
Cisco Systems, Inc.CSCO	AFGR +1.11 points	1.57%	0.46%
GE Vernova Inc.GEV	FELG +1.03 points	0.17%	1.20%
Ross Stores, Inc.ROST	AFGR +0.89 points	1.11%	0.22%
Visa Inc. (Class A)V	AFGR +0.88 points	2.42%	1.54%
Micron Technology, Inc.MU	FELG +0.80 points	2.89%	3.69%
Western Digital CorporationWDC	FELG +0.73 points	0.20%	0.93%
Lam Research CorporationLRCX	AFGR +0.72 points	1.35%	0.63%
Meta Platforms, Inc. (Class A)META	FELG +0.68 points	2.75%	3.43%
Arista Networks, Inc.ANET	AFGR +0.61 points	0.92%	0.31%
Datadog, Inc. (Class A)DDOG	AFGR +0.58 points	0.79%	0.21%
Exelixis, Inc.EXEL	AFGR +0.55 points	0.56%	0.01%
Mastercard IncorporatedMA	AFGR +0.47 points	2.34%	1.87%
Natera, Inc.NTRA	AFGR +0.47 points	0.64%	0.17%
Northern Trust CorporationNTRS	AFGR +0.38 points	0.47%	0.09%
Amphenol CorporationAPH	FELG +0.37 points	0.53%	0.90%
Seagate Technology Holdings PlcSTX	AFGR +0.35 points	0.73%	0.38%
Fortinet, Inc.FTNT	AFGR +0.35 points	1.02%	0.67%
Howmet Aerospace Inc.HWM	FELG +0.35 points	0.20%	0.55%
Quanta Services, Inc.PWR	AFGR +0.31 points	0.61%	0.30%
Advanced Micro Devices, Inc.AMD	FELG +0.29 points	1.99%	2.28%
Guardant Health, Inc.GH	AFGR +0.27 points	0.36%	0.09%
Applied Materials, Inc.AMAT	AFGR +0.24 points	1.46%	1.22%
Expedia Group, Inc.EXPE	FELG +0.22 points	0.41%	0.63%
Snowflake Inc. (Class A)SNOW	FELG +0.22 points	0.33%	0.55%
Adobe IncorporatedADBE	AFGR +0.16 points	0.92%	0.76%
Caterpillar Inc.CAT	FELG +0.13 points	0.81%	0.94%
KLA CorporationKLAC	FELG +0.11 points	0.67%	0.78%
Sandisk CorporationSNDK	AFGR +0.09 points	0.93%	0.84%
Intuitive Surgical, Inc.ISRG	AFGR +0.09 points	0.09%	0.00%
MongoDB, Inc.MDB	AFGR +0.08 points	0.18%	0.10%
Palantir Technologies Inc. (Class A)PLTR	FELG +0.07 points	0.95%	1.02%
Comfort Systems USA, Inc.FIX	FELG +0.06 points	0.45%	0.51%
Netflix, Inc.NFLX	FELG +0.05 points	0.83%	0.88%
Keysight Technologies, Inc.KEYS	AFGR +0.03 points	0.50%	0.47%
Oracle CorporationORCL	AFGR +0.01 points	0.21%	0.20%

All 90 AFGR holdings⁠All 109 FELG holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

AFGR vs FELG Cost

Overpaying AFGR vs FELG

$8,968

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

AFGR 0.65%
$12,717
FELG 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

AFGR 0.65%
FELG 0.18%
Overpaying

Year by year

Year	AFGR	FELG	Overpaying
10	$1,163	$328	$835
20	$4,440	$1,281	$3,159
30	$12,717	$3,749	$8,968

Expense ratio

0.65%AFGR
0.18%FELG, cheaper

FELG0.18%AFGR0.65%

0.18%2.83%

Middle half of US Active Growth funds
Median 0.55%

FELG cheapest of 90 funds

AFGR 65th cheapest of 90 funds

AFGR vs FELG Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AFGR 0.01%; FELG 0.37%, better
Payout (12M): AFGR $0.0052; FELG $0.16
Last payment: AFGR $0.0052; FELG $0.04
Ex-dividend: AFGR Sep 24, 2026; FELG Sep 18, 2026
Paid on: AFGR Sep 30, 2026; FELG Sep 22, 2026
Frequency: AFGR Irregular; FELG Quarterly

Distribution history

Per share, 2020 to 2026, same scale for both

AFGRIrregular · 2 paymentsAll AFGR payments⁠

FELGQuarterly · 14 paymentsAll FELG payments⁠

AFGR vs FELG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: AFGR No dataFELG 16.3%since Dec 2023
Return per unit of riskSharpe ratio, 3 years: AFGR No dataFELG 0.93since Dec 2023
Worst fallMax drawdown, 5 years: AFGR No dataFELG −23.9%since Nov 2023
Market sensitivityBeta, 5 years: AFGR 1.27FELG 1.23; Market = 1

AFGR and FELG in the news

All news⁠

ETF Filings
BlackRock files to convert Advantage Large Cap Growth into a 0.22% ETF
Sep 29, 2026FELG

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AFGR vs FELG

In short

Stated mandate

Why people hold it

Worth knowing

How AFGR and FELG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AFGR

Only in FELG

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

BlackRock files to convert Advantage Large Cap Growth into a 0.22% ETF

How AFGR and FELG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AFGR

Only in FELG

Weight gaps