AVLC vs FELC

AVLCAAvantis U.S. Large Cap Equity ETF

FELCAFidelity Enhanced Large Cap Core ETF

In short

AVLC Active management with index-fund manners: roughly 900 U.S. large caps, with the dial turned toward cheaper, more profitable companies. Avantis charges 0.15% a year to do it.

FELC Active management priced like an index fund. Fidelity's quant screens tilt a roughly 220-stock large-cap portfolio toward value, growth and quality signals, with the S&P 500 as the yardstick, for 0.18% a year.

Stated mandate

AVLC The fund seeks long-term capital appreciation. It invests broadly in U.S. large-capitalization companies while using active decisions to overweight lower valuations and higher profitability.

FELC The fund seeks long-term capital appreciation.

Why people hold it

• AVLC 0.15% a year against a 0.65% median for active U.S. equity funds. That is passive-style pricing on an actively run book.
• Holds about 900 names against the Russell 1000, so the value and profitability tilts sit on top of broad market exposure instead of a concentrated bet.avantisinvestors.com
• One of the stronger builds in the active U.S. equity group, priced in the same neighborhood as the Dimensional core funds (DFAU, DFAC) it competes with.
• A multi-billion-dollar fund that trades steadily, so spreads and liquidity are rarely the sticking point. Distributions are paid quarterly.

• FELC 0.18% a year, well under the median fee for active US equity funds. Index-fund pricing with a stock-picking overlay on top.
• The screen is three-pronged: valuation, growth and quality signals, applied across about 220 large caps and measured against the S&P 500.
• A multi-billion-dollar, actively traded fund whose strategy has been on the books since 2007. Size and volume make it easy to get in and out of.
• One of the stronger implementations in its active US equity peer group: cheap, liquid, and running the mandate its prospectus describes.

Worth knowing

• AVLC Launched in 2023. The tilt philosophy is well worn at Avantis, but this fund's own live record is still short.
• Active, not index-tracking. The Russell 1000 is a reference point, not a leash, so holdings and weights can drift from it.
• Leaning toward cheaper, higher-profitability companies means stretches where it moves differently from the plain cap-weighted market, in either direction.avantisinvestors.com

• FELC Benchmarked to the S&P 500 and holding about 220 of its large caps, so it lives in the same neighborhood as a plain index fund. The tilts are the entire difference.
• Models pick the stocks, not an index. That means results can land on either side of the S&P 500 in any given stretch.
• The stated goal is long-term capital appreciation, not income. Distributions arrive quarterly as a byproduct of a fully invested stock portfolio, with no hedge or buffer.

Full AVLC profile⁠

Full FELC profile⁠