AGRW vs FELG: Grades, Fees and Holdings Compared

Allspring LT Large Growth ETF

AGRWBNYSE Arca

Fidelity Enhanced Large Cap Growth ETF

FELGANYSE Arca

Overlap

43.7%by weight

Expense ratio

FELG −0.17pt a year

AGRW0.35%FELG0.18%

Avg volume · 30D

FELG 473.2×the volume

AGRW801FELG379K

AGRW vs FELG Performance

Oct 31, 2025 – Oct 30, 2026

+1.3%AGRW−0.5%FELG

Expense ratio: AGRW 0.35%; FELG 0.18%, better
Fund size: AGRW $111M; FELG $5.78B
1Y total return: AGRW +1.3%, better; FELG −0.5%
Yield (12M): AGRW No data; FELG 0.37%
Holdings: AGRW 49; FELG 133
Avg volume (30D): AGRW 801 sh; FELG 379K sh, better
NAV per share: AGRW $31.44; FELG $42.20
52W range

ETF.net Grade

Pillar letters and Scores for AGRW, FELG, with each pillar’s weight
Pillar	AGRW	FELG
Cost30% weight	A93	A99Higher
Mission25% weight	Not scored	A82
Risk15% weight	C53Higher	C51
Tradability15% weight	C43	A85Higher
Holdings10% weight	B66Higher	C52
Durability5% weight	C53	A95Higher

Rank among US Active Growth funds

How we build Categories ›

Same Category. AGRW 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 AGRW 9th 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 8AESLGEventide Large Cap Growth ETFScore 71
Rank 9BAGRWAllspring LT Large Growth ETFScore 68
Rank 9BFLCGFederated Hermes MDT Large Cap Growth ETFScore 68

Our read on each fund

ETF.net Research

AGRWBAllspring LT Large Growth ETF

FELGAFidelity Enhanced Large Cap Growth ETF

In short

AGRW A concentrated bet on about 50 US growth companies, run by Allspring's stockpickers at 0.35%, well under the typical active growth ETF. It launched in 2025, so the strategy does the talking, not the track record.

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

AGRW The Fund seeks long-term capital appreciation.

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

AGRW At 0.35% a year, it undercuts the typical active US growth ETF (cohort median near 0.54%) and even some of the top-rated names in the group, like LRGC at 0.39%.
Roughly 50 holdings, all US stocks. Tight enough that the managers' best ideas actually move the portfolio instead of getting diluted across hundreds of names.
No moving parts to decode: a standard 1940 Act ETF with one stated job, long-term capital appreciation from US equities.

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

AGRW It opened in 2025, so there is very little history here. Risk and consistency measures rest on a short window rather than a full market cycle.
Small and thinly traded next to the category's giants, which can mean wider bid-ask spreads. Limit orders are the standard tool for funds like this.
Cash flows are sparse by design: distributions land annually or semiannually, and the mandate is appreciation, not income.

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 AGRW profile⁠

Full FELG profile⁠

AGRW vs FELG Holdings

How AGRW and FELG differ

Overlap by weight

43.7%

Shared holdings make up 71.8% of AGRW and 52.4% of FELG.

Level by level

Holdings28 in both43.7%
Countryby domicile98.8%
Asset classEquity100%

Sector

No Sector split for AGRW.

Country, concentration and asset class

Country by domicile

Country weights in AGRW and FELG, widest gap first
Country	More in AGRWMore in FELG	AGRW	FELG
United States	FELG +1.2 points	98.8%	100.0%
Canada	AGRW +1.2 points	1.2%	0.0%

Concentration

Weight in the 10 largest Holdings

AGRW51.5%
FELG57.6%

Securities held

AGRW48
FELG131

Asset class

AGRW: Equity
FELG: Equity

Holdings

Only in AGRW20
In both28
Only in FELG103

Only in AGRW

20 securities, 28.2% of AGRW by weight

Broadcom Inc.4.44%
Arista Networks Inc2.43%
Cadence Design Systems, Inc.1.55%
Analog Devices, Inc.1.45%
Viking Holdings Ltd1.44%
Spotify Technology SA1.39%
Toast, Inc. Class A1.37%
Salesforce, Inc.1.37%
Danaher Corporation1.35%
Okta, Inc. Class A1.31%
Vertex Pharmaceuticals Incorporated1.27%
Canadian Pacific Kansas City Limited1.24%
DexCom, Inc.1.23%
XPO, Inc.1.11%
TransDigm Group Incorporated1.04%
Corpay, Inc.1.04%
Ulta Beauty Inc.1.04%
Walmart Inc.1.00%
Chipotle Mexican Grill, Inc.0.75%
Allspring Govt Mmkt0.40%

Only in FELG

103 securities, 46.9% of FELG by weight

Alphabet Inc Class A6.48%
Broadcom Inc4.65%
Tesla Inc3.02%
Advanced Micro Devices Inc2.28%
Mastercard Inc Class A1.87%
Ge Aerospace1.44%
Texas Instruments Inc1.42%
Applied Materials Inc1.22%
Palantir Technologies Inc1.02%
Crowdstrike Holdings Inc0.98%
Caterpillar Inc0.94%
Western Digital Corp0.93%
Sandisk Corporation0.84%
Trane Technologies PLC0.80%
Kla Corp0.78%
Adobe Inc0.76%
Airbnb Inc Class A0.75%
Fortinet Inc0.67%
Expedia Inc0.63%
Gilead Sciences Inc0.56%
Snowflake Inc0.55%
Howmet Aerospace Inc0.55%
Atlassian Corp PLC Cls A0.54%
Schwab Charles Corp0.53%
Bank of New York Mellon Corp0.53%
Rtx Corp0.52%
Comfort Systems Usa Inc0.51%
Bristol-Myers Squibb Co0.51%
Bank of America Corporation0.51%
Maplebear Inc0.49%
Keysight Technologies Inc0.47%
Unity Software Inc0.47%
Cisco Systems Inc0.46%
Hubspot Inc0.45%
Seagate Techn Holdings PLC0.38%
Chime Financial Inc0.37%
Incyte Corp0.35%
Eaton Corp PLC0.34%
Lyft Inc0.34%
Docusign Inc0.32%
Arista Networks Inc0.31%
Veralto Corp0.30%
Quanta Svcs Inc0.30%
Travere Therapeutics Inc0.30%
Zoom Communications Inc Class A0.27%
Home Depot Inc0.23%
Netapp Inc0.23%
Ross Stores Inc0.22%
Draftkings Holdings Inc0.22%
Technipfmc PLC0.19%

Weight gaps

All 28 Holdings in both funds, largest gap first.

Holding weights in AGRW and FELG, widest gap first
Holding	More in AGRWMore in FELG	AGRW	FELG
Alphabet Inc. Class CGOOG	AGRW +4.68 points	7.29%	2.61%
Apple Inc.AAPL	FELG +3.88 points	4.92%	8.80%
Amazon.com, Inc.AMZN	AGRW +3.40 points	3.98%	0.58%
Lam Research CorporationLRCX	AGRW +1.73 points	2.36%	0.63%
ServiceNow, Inc.NOW	AGRW +1.59 points	1.60%	<0.01%
Micron Technology, Inc.MU	FELG +1.56 points	2.13%	3.69%
Intuitive Surgical, Inc.ISRG	AGRW +1.31 points	1.31%	0.00%
Eli Lilly and CompanyLLY	FELG +1.27 points	2.64%	3.90%
Oracle CorporationORCL	AGRW +1.26 points	1.46%	0.20%
Datadog, Inc. Class ADDOG	AGRW +1.24 points	1.45%	0.21%
Visa Inc. Class AV	AGRW +1.22 points	2.76%	1.54%
GE Vernova Inc.GEV	AGRW +1.22 points	2.42%	1.20%
Vertiv Holdings Co. Class AVRT	AGRW +1.21 points	1.48%	0.27%
Tradeweb Markets, Inc. Class ATW	AGRW +1.04 points	1.12%	0.08%
UnitedHealth Group IncorporatedUNH	AGRW +1.03 points	1.06%	0.03%
Neurocrine Biosciences, Inc.NBIX	AGRW +0.97 points	0.98%	<0.01%
Microsoft CorporationMSFT	FELG +0.96 points	4.44%	5.40%
Ciena CorporationCIEN	AGRW +0.87 points	1.26%	0.39%
S&P Global, Inc.SPGI	AGRW +0.82 points	1.02%	0.20%
Amphenol Corporation Class AAPH	AGRW +0.82 points	1.72%	0.90%
Morgan StanleyMS	AGRW +0.81 points	0.97%	0.16%
NVIDIA CorporationNVDA	FELG +0.75 points	14.85%	15.60%
Palo Alto Networks, Inc.PANW	AGRW +0.72 points	1.12%	0.40%
Space Exploration Technologies Corp. Class ASPCX	AGRW +0.70 points	0.89%	0.19%
Ecolab Inc.ECL	AGRW +0.63 points	1.15%	0.52%
Uber Technologies, Inc.UBER	AGRW +0.49 points	1.04%	0.55%
Meta Platforms Inc Class AMETA	AGRW +0.35 points	3.78%	3.43%
Netflix, Inc.NFLX	FELG +0.30 points	0.58%	0.88%

All 49 AGRW 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.

AGRW vs FELG Cost

Overpaying AGRW vs FELG

$3,377

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

AGRW 0.35%
$7,126
FELG 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

AGRW 0.35%
FELG 0.18%
Overpaying

Year by year

Year	AGRW	FELG	Overpaying
10	$634	$328	$306
20	$2,454	$1,281	$1,173
30	$7,126	$3,749	$3,377

Expense ratio

0.35%AGRW
0.18%FELG, cheaper

FELG0.18%AGRW0.35%

0.18%2.83%

Middle half of US Active Growth funds
Median 0.55%

FELG cheapest of 90 funds

AGRW 5th cheapest of 90 funds

AGRW vs FELG Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AGRW No data; FELG 0.37%
Payout (12M): AGRW No data; FELG $0.16
Last payment: AGRW $0.04; FELG $0.04
Ex-dividend: AGRW Dec 22, 2025; FELG Sep 18, 2026
Paid on: AGRW Dec 24, 2025; FELG Sep 22, 2026
Frequency: AGRW Irregular; FELG Quarterly

Distribution history

Per share, 2023 to 2026, same scale for both

AGRWIrregular · 1 paymentAll AGRW payments⁠

FELGQuarterly · 14 paymentsAll FELG payments⁠

AGRW vs FELG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: AGRW 17.1%since Apr 2025FELG 16.3%since Dec 2023
Return per unit of riskSharpe ratio, 3 years: AGRW 0.88since Apr 2025FELG 0.93since Dec 2023
Worst fallMax drawdown, 5 years: AGRW −16.5%since Mar 2025FELG −23.9%since Nov 2023
Market sensitivityBeta, 5 years: AGRW 1.32FELG 1.23; Market = 1

AGRW 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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AGRW vs FELG

In short

Stated mandate

Why people hold it

Worth knowing

How AGRW and FELG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AGRW

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 AGRW and FELG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AGRW

Only in FELG

Weight gaps