CARK vs FELG: Grades, Fees and Holdings Compared

CastleArk Large Growth ETF

CARKCNYSE Arca

Fidelity Enhanced Large Cap Growth ETF

FELGANYSE Arca

Overlap

55.0%by weight

Expense ratio

FELG −0.36pt a year

CARK0.54%FELG0.18%

Avg volume · 30D

FELG 112.2×the volume

CARK3.38KFELG379K

CARK vs FELG Performance

Oct 31, 2025 – Nov 2, 2026

−0.5%CARK−1.7%FELG

Expense ratio: CARK 0.54%; FELG 0.18%, better
Fund size: CARK $325M; FELG $5.78B
1Y total return: CARK −0.5%, better; FELG −1.7%
Yield (12M): CARK 0.01%; FELG 0.37%, better
Holdings: CARK 27; FELG 132
Avg volume (30D): CARK 3.38K sh; FELG 379K sh, better
NAV per share: CARK $45.70; FELG $42.20
52W range

ETF.net Grade

Pillar letters and Scores for CARK, FELG, with each pillar’s weight
Pillar	CARK	FELG
Cost30% weight	C54	A99Higher
Mission25% weight	Not scored	A82
Risk15% weight	C43	C51Higher
Tradability15% weight	C44	A85Higher
Holdings10% weight	D36	C52Higher
Durability5% weight	B60	A95Higher

Rank among US Active Growth funds

How we build Categories ›

Same Category. CARK 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 CARK 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 48CAFGRFirst Trust Active Factor Large Cap Growth ETFScore 47
Rank 48CCARKCastleArk Large Growth ETFScore 47
Rank 50CATFVAlger 35 ETFScore 46

Our read on each fund

ETF.net Research

CARKCCastleArk Large Growth ETF

FELGAFidelity Enhanced Large Cap Growth ETF

In short

CARK A Chicago boutique's large-growth playbook in ETF form: a concentrated book of big U.S. franchises picked for profitability and free cash flow rather than headline revenue growth.

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

CARK The Fund seeks long-term capital appreciation. It is an actively managed ETF investing primarily in large-capitalization common stocks through a bottom-up fundamental process focused on established growth companies with sustainable competitive advantages and strong potential free-cash-flow margins and earnings growth.

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

CARK Concentrated by design. A focused portfolio of predominantly U.S. companies above $4 billion in market cap at purchase means manager conviction, not index weights, sets the shape of the fund.castleark-etfs.com
The screen is franchise quality: businesses the team sees as harder to disrupt, with high profitability and free cash flow, which it ranks above the raw rate of revenue growth.castleark-etfs.com
Fee sits right at the middle of its active large-growth peer group at 0.54%, so the concentration and stock picking do not come with a premium sticker.
Not a startup strategy in a new wrapper: the ETF, launched in 2023, carries the name of a manager its co-founder started building in 1999.castleark-etfs.com

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

CARK Concentration cuts both ways. With a small number of positions, one company's stumble moves this fund far more than it would a broad growth index.castleark-etfs.com
It trades thinly. Spreads can be wider than on mega-cap growth funds, and order type and timing matter more than they do in heavily traded names.
Cheaper competition is real: JUSA (0.12%) and FELG (0.18%) chase large-cap growth for a fraction of the fee, and our review places CARK in the lower half of this peer group.

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 CARK profile⁠

Full FELG profile⁠

CARK vs FELG Holdings

How CARK and FELG differ

Overlap by weight

55.0%

Shared holdings make up 88.6% of CARK and 60.3% of FELG.

Level by level

Holdings21 in both55.0%
Sector11 Sectors93.1%
Countryby domicile99.2%
Asset classEquity100%

Sector

Sector weights in CARK and FELG, widest gap first
Sector	More in CARKMore in FELG	CARK	FELG
Financials	CARK +4.3 points	9.8%	5.5%
Health Care	CARK +2.5 points	8.6%	6.1%
Technology	FELG +2.3 points	56.4%	58.7%
Industrials	FELG +2.1 points	5.8%	7.9%
Communication	FELG +1.5 points	13.1%	14.6%
Materials	FELG +0.5 points	0.0%	0.5%
Energy	FELG +0.2 points	0.0%	0.2%
Consumer Staples	FELG +0.1 points	0.0%	0.1%
Real Estate	FELG +0.1 points	0.0%	0.1%
Utilities	Same weight	0.0%	0.0%
Consumer Discretionary	FELG +0.1 points	6.3%	6.4%

Country, concentration and asset class

Country by domicile

Country weights in CARK and FELG, widest gap first
Country	More in CARKMore in FELG	CARK	FELG
United States	FELG +0.8 points	99.2%	100.0%
Canada	CARK +0.8 points	0.8%	0.0%

Concentration

Weight in the 10 largest Holdings

CARK61.8%
FELG57.9%

Securities held

CARK26
FELG131

Asset class

CARK: Equity
FELG: Equity

Holdings

Only in CARK5
In both21
Only in FELG110

Only in CARK

5 securities, 7.7% of CARK by weight

Analog Devices Inc2.72%
Moody's Corp1.77%
Starbucks Corp1.34%
Tapestry Inc1.08%
Shopify Inc - Class A0.75%

Only in FELG

110 securities, 39.0% of FELG by weight

Micron Technology Inc3.59%
Tesla Inc3.08%
Alphabet Inc Class C2.65%
Ge Aerospace1.43%
Texas Instruments Inc1.40%
Palantir Technologies Inc0.99%
Crowdstrike Holdings Inc0.97%
Caterpillar Inc0.93%
Netflix Inc0.91%
Amphenol Corporation Class A0.90%
Western Digital Corp0.89%
Adobe Inc0.79%
Trane Technologies PLC0.78%
Kla Corp0.76%
Sandisk Corporation0.75%
Fortinet Inc0.67%
Expedia Inc0.65%
Uber Technologies Inc0.56%
Howmet Aerospace Inc0.54%
Rtx Corp0.54%
Schwab Charles Corp0.54%
Ecolab Inc0.54%
Bank of New York Mellon Corp0.53%
Bristol-Myers Squibb Co0.53%
Atlassian Corp PLC Cls A0.52%
Bank of America Corporation0.51%
Maplebear Inc0.50%
Comfort Systems Usa Inc0.49%
Unity Software Inc0.46%
Cisco Systems Inc0.46%
Hubspot Inc0.45%
Keysight Technologies Inc0.45%
Palo Alto Networks Inc0.40%
Incyte Corp0.38%
Chime Financial Inc0.37%
Ciena Corp0.37%
Seagate Techn Holdings PLC0.36%
Lyft Inc0.35%
Veralto Corp0.33%
Eaton Corp PLC0.33%
Docusign Inc0.33%
Travere Therapeutics Inc0.31%
Quanta Svcs Inc0.30%
Zoom Communications Inc Class A0.27%
Home Depot Inc0.24%
Draftkings Holdings Inc0.22%
Ross Stores Inc0.22%
Netapp Inc0.22%
S&P Global Inc0.20%
Technipfmc PLC0.20%

Weight gaps

All 21 Holdings in both funds, largest gap first.

Holding weights in CARK and FELG, widest gap first
Holding	More in CARKMore in FELG	CARK	FELG
Arista Networks IncANET	CARK +4.24 points	4.54%	0.30%
Visa Inc-Class A SharesV	CARK +3.90 points	5.50%	1.60%
Lam Research CorpLRCX	CARK +3.70 points	4.31%	0.61%
Snowflake IncSNOW	CARK +3.57 points	4.09%	0.52%
Gilead Sciences IncGILD	CARK +3.40 points	3.99%	0.59%
Vertiv Holdings Co-AVRT	CARK +2.40 points	2.67%	0.27%
Eli Lilly & CoLLY	CARK +2.15 points	6.30%	4.15%
Apple IncAAPL	FELG +2.00 points	6.95%	8.95%
NVIDIA CorpNVDA	FELG +1.83 points	13.55%	15.38%
Amazon.com IncAMZN	CARK +1.79 points	2.38%	0.59%
Ge Vernova IncGEV	CARK +1.44 points	2.64%	1.20%
Mastercard Inc - AMA	CARK +1.34 points	3.27%	1.93%
Advanced Micro DevicesAMD	CARK +1.31 points	3.41%	2.10%
Servicenow IncNOW	CARK +1.25 points	1.26%	<0.01%
Morgan StanleyMS	CARK +1.22 points	1.38%	0.16%
Microsoft CorpMSFT	CARK +1.07 points	6.55%	5.48%
Alphabet Inc-Cl AGOOGL	FELG +0.84 points	5.74%	6.58%
Applied Materials IncAMAT	CARK +0.73 points	1.89%	1.16%
Meta Platforms IncMETA	FELG +0.35 points	3.13%	3.48%
Broadcom IncAVGO	FELG +0.24 points	4.28%	4.52%
Airbnb Inc-Class AABNB	FELG +0.05 points	0.71%	0.76%

All CARK 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.

CARK vs FELG Cost

Overpaying CARK vs FELG

$6,971

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

CARK 0.54%
$10,720
FELG 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

CARK 0.54%
FELG 0.18%
Overpaying

Year by year

Year	CARK	FELG	Overpaying
10	$971	$328	$643
20	$3,724	$1,281	$2,443
30	$10,720	$3,749	$6,971

Expense ratio

0.54%CARK
0.18%FELG, cheaper

FELG0.18%CARK0.54%

0.18%2.83%

Middle half of US Active Growth funds
Median 0.55%

FELG cheapest of 90 funds

CARK 42nd cheapest of 90 funds

CARK vs FELG Dividends

Last 12 months to Nov 2, 2026

Yield (12M): CARK 0.01%; FELG 0.37%, better
Payout (12M): CARK $0.0066; FELG $0.16
Last payment: CARK $0.0066; FELG $0.04
Ex-dividend: CARK Dec 30, 2025; FELG Sep 18, 2026
Paid on: CARK Jan 7, 2026; FELG Sep 22, 2026
Frequency: CARK Irregular; FELG Quarterly

Distribution history

Per share, 2023 to 2026, same scale for both

CARKIrregular · 2 paymentsAll CARK payments⁠

FELGQuarterly · 14 paymentsAll FELG payments⁠

CARK vs FELG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: CARK 17.0%since Jan 2024FELG 16.3%since Dec 2023
Return per unit of riskSharpe ratio, 3 years: CARK 0.60since Jan 2024FELG 0.93since Dec 2023
Worst fallMax drawdown, 5 years: CARK −25.2%since Dec 2023FELG −23.9%since Nov 2023
Market sensitivityBeta, 5 years: CARK 1.29FELG 1.23; Market = 1

CARK 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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