DYNF vs FELC: Grades, Fees and Holdings Compared

iShares U.S. Equity Factor Rotation Active ETF

DYNFANYSE Arca

Fidelity Enhanced Large Cap Core ETF

FELCANYSE Arca

Overlap

63.2%by weight

Expense ratio

FELC −0.08pt a year

DYNF0.26%FELC0.18%

Avg volume · 30D

DYNF 2.7×the volume

DYNF2.25MFELC832K

DYNF vs FELC Performance

Oct 31, 2025 – Oct 30, 2026

+11.6%DYNF+13.4%FELC

Expense ratio: DYNF 0.26%; FELC 0.18%, better
Fund size: DYNF $41.8B; FELC $8.61B
1Y total return: DYNF +11.6%; FELC +13.4%, better
Yield (12M): DYNF 0.84%; FELC 0.85%, better
Holdings: DYNF 264; FELC 315
Avg volume (30D): DYNF 2.25M sh, better; FELC 832K sh
NAV per share: DYNF $67.32; FELC $42.67
52W range

ETF.net Grade

Pillar letters and Scores for DYNF, FELC, with each pillar’s weight
Pillar	DYNF	FELC
Cost30% weight	A86	A94Higher
Mission25% weight	Not scored	A84
Risk15% weight	A71Higher	B64
Tradability15% weight	A99Higher	A84
Holdings10% weight	B65	A72Higher
Durability5% weight	A97Higher	A94

Rank among US Active Equity funds

How we build Categories ›

Same Category. DYNF and FELC are both graded against the same 121 US Active Equity funds, so their Grades compare head to head.

US Active Equity⁠

Category · 121 funds

See all 121 ›

DYNF ranks 4th and FELC 4th of 121 funds in the US Active Equity Category.

Rank 1AAVLCAvantis U.S. Large Cap Equity ETFScore 87
Rank 2ADFAUDimensional US Core Equity Market ETFScore 86
Rank 3ADFACDimensional US Core Equity 2 ETFScore 85
Rank 4ADYNFiShares U.S. Equity Factor Rotation Active ETFScore 83
Rank 4AFELCFidelity Enhanced Large Cap Core ETFScore 83
Rank 6AEBILongview Advantage ETFScore 82

Our read on each fund

ETF.net Research

DYNFAiShares U.S. Equity Factor Rotation Active ETF

FELCAFidelity Enhanced Large Cap Core ETF

In short

DYNF Most factor funds make you pick a lane: value, momentum, quality. DYNF rotates across five styles instead, letting a factor model decide which one leads, and charges an index-fund-ish 0.26% 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

DYNF The Fund seeks to outperform the U.S. equity market through diversified, tactical exposure to style factors using a factor rotation model.

FELC The fund seeks long-term capital appreciation.

Why people hold it

DYNF Five style factors in one ticket (value, quality, momentum, growth, low volatility), reweighted by a rotation model rather than locked to a single tilt.
0.26% is well under half the median fee in its active US equity peer group, which is unusual pricing for a strategy with a human-supervised model behind it.
A multi-billion-dollar fund and one of the more actively traded names in its category, so getting in and out rarely becomes the hard part. Pays quarterly.
Running since 2019 under one of the biggest ETF shops, and it stands among the strongest overall implementations in the active US equity group we track.

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

DYNF The yardstick isn't the S&P 500: it's a custom blend of 80% MSCI USA and 20% MSCI USA Minimum Volatility, so a low-vol tilt is baked into the benchmark itself.
Active by design. The factor mix shifts, the book runs to a couple hundred stocks, and a rotation call can leave it out of step with a plain US market index fund.
Cheap for active, not the cheapest shelf: systematic peers DFAU (0.12%), AVLC (0.15%), DFAC (0.17%) and FELC (0.18%) all undercut it on fee.

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 DYNF profile⁠

Full FELC profile⁠

DYNF vs FELC Holdings

How DYNF and FELC differ

Overlap by weight

63.2%

Shared holdings make up 88.7% of DYNF and 84.4% of FELC.

Level by level

Holdings151 in both63.2%
Sector11 Sectors94.1%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in DYNF and FELC, widest gap first
Sector	More in DYNFMore in FELC	DYNF	FELC
Energy	DYNF +2.4 points	5.3%	2.9%
Financials	DYNF +2.1 points	15.4%	13.3%
Technology	FELC +1.6 points	39.9%	41.5%
Industrials	FELC +1.5 points	8.0%	9.5%
Health Care	FELC +1.3 points	7.7%	9.0%
Utilities	DYNF +0.9 points	1.8%	0.9%
Consumer Staples	FELC +0.6 points	2.2%	2.8%
Real Estate	DYNF +0.5 points	2.0%	1.5%
Materials	FELC +0.5 points	0.9%	1.4%
Consumer Discretionary	FELC +0.4 points	7.0%	7.4%
Communication	FELC +0.1 points	9.6%	9.7%

Country, concentration and asset class

Country by domicile

Country weights in DYNF and FELC, widest gap first
Country	More in DYNFMore in FELC	DYNF	FELC
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

DYNF40.4%
FELC38.0%

Securities held

DYNF262
FELC312

Asset class

DYNF: Equity
FELC: Equity

Holdings

Only in DYNF111
In both151
Only in FELC161

Only in DYNF

111 securities, 11.0% of DYNF by weight

Duke Energy Corp1.07%
Realty Income Reit0.73%
American International Group0.62%
Newmont0.62%
Space Exploration Technologies Cor0.58%
Deere0.55%
Nextera Energy0.51%
Valero Energy Corp0.47%
Eaton PLC0.43%
Booking Holdings0.38%
Corning0.33%
Medtronic PLC0.33%
Palo Alto Networks0.25%
Phillips 660.23%
Intuitive Surgical0.22%
Exelon Corp0.21%
Marvell Technology0.21%
Mcdonalds Corp0.21%
Host Hotels & Resorts Reit0.19%
Accenture PLC Class A0.19%
Hca Healthcare0.16%
Cvs Health0.15%
Applovin Class A0.14%
Lumentum Holdings0.14%
Walt Disney0.13%
United Therapeutics0.11%
American Electric Power Inc0.11%
Citizens Financial Group Inc0.08%
Caseys General Stores Inc0.08%
Crh Public Limited PLC0.08%
Ati0.08%
Royal Caribbean Group0.07%
Roblox Class A0.07%
Robinhood Markets Class A0.06%
Archer Daniels Midland0.06%
Vertex Pharmaceuticals0.06%
Astera Labs0.06%
Sofi Technologies0.05%
Omnicom Group Inc0.05%
Halozyme Therapeutics0.05%
Amgen Inc0.05%
Tapestry0.04%
Insmed0.04%
Anglogold Ashanti PLC0.04%
Coherent0.04%
Revolution Medicines0.04%
Mastec Inc0.04%
Biogen0.04%
Johnson Controls International PLC0.03%
Caci International Inc Class A0.03%

Only in FELC

161 securities, 14.3% of FELC by weight

Ford Motor Co0.55%
Block Inc Class A0.54%
General Dynamics Corporation0.53%
Elevance Health Inc0.48%
Unity Software Inc0.46%
Johnson Controls Internatl PLC0.44%
American Tower Corp0.42%
Nxp Semiconductors NV0.40%
Ecolab Inc0.40%
Ametek Inc New0.40%
Comcast Corp Class A0.38%
Eaton Corp PLC0.37%
Veralto Corp0.36%
Veeva Sys Inc Class A0.34%
S&P Global Inc0.34%
Commercial Metals Co0.33%
Fiserv Inc0.33%
Netapp Inc0.32%
Conocophillips0.30%
Maplebear Inc0.30%
Lyft Inc0.30%
3M Co0.28%
Crh Plc(Us)0.28%
Docusign Inc0.25%
Cencora Inc0.24%
Avery Dennison Corp0.21%
Ppl Corporation0.20%
Eog Resources Inc0.19%
Baker Hughes Co0.17%
Honeywell Intl Inc0.17%
Chime Financial Inc0.17%
Cirrus Logic Inc0.16%
Gartner Inc0.16%
Oscar Health Inc - Class A0.14%
Toro Co0.14%
Chipotle Mexican Grill Inc0.14%
Medpace Holdings Inc0.14%
Securities Lending Cf0.13%
Amdocs Ltd0.13%
Outfront Media Inc0.13%
Godaddy Inc Class A0.13%
Crane Co0.13%
Illinois Tool Works Inc0.11%
Verisign Inc0.11%
Dow Inc0.10%
Ust Bills 0% 12/10/260.10%
Starbucks Corp0.10%
Roku Inc Class A0.09%
Loews Corp0.09%
Wesco International Inc0.08%

Weight gaps

The 100 widest of 151 Holdings in both funds.

Holding weights in DYNF and FELC, widest gap first
Holding	More in DYNFMore in FELC	DYNF	FELC
Exxonmobil Holdings CorpXOM	DYNF +1.99 points	3.18%	1.19%
JPMorgan Chase & CoJPM	DYNF +1.62 points	3.39%	1.77%
Johnson & JohnsonJNJ	DYNF +1.59 points	2.04%	0.45%
Bank of AmericaBAC	DYNF +1.40 points	2.13%	0.73%
SalesforceCRM	DYNF +1.30 points	1.57%	0.27%
Travelers CompaniesTRV	DYNF +1.26 points	1.60%	0.34%
CitigroupC	DYNF +1.20 points	1.35%	0.15%
Lam ResearchLRCX	DYNF +1.08 points	1.26%	0.18%
Mastercard Class AMA	FELC +1.04 points	0.07%	1.11%
Berkshire Hathaway Inc Class BBRK.B	FELC +0.98 points	1.06%	2.04%
ChevronCVX	DYNF +0.87 points	1.71%	0.84%
Merck & Co IncMRK	FELC +0.84 points	0.02%	0.86%
Caterpillar IncCAT	DYNF +0.78 points	1.31%	0.53%
Verizon Communications IncVZ	DYNF +0.75 points	0.75%	0.00%
Parker-HannifinPH	DYNF +0.75 points	1.28%	0.53%
Advanced Micro DevicesAMD	DYNF +0.70 points	1.54%	0.84%
Bristol Myers SquibbBMY	FELC +0.66 points	0.05%	0.71%
Allstate CorpALL	DYNF +0.66 points	1.14%	0.48%
Texas InstrumentTXN	FELC +0.64 points	0.12%	0.76%
Visa Class AV	FELC +0.62 points	0.42%	1.04%
Wells FargoWFC	FELC +0.60 points	0.12%	0.72%
Alphabet Class AGOOGL	FELC +0.60 points	2.07%	2.67%
Tesla IncTSLA	DYNF +0.60 points	1.72%	1.12%
Eli LillyLLY	FELC +0.56 points	1.52%	2.08%
Cisco Systems IncCSCO	DYNF +0.55 points	1.54%	0.99%
Airbnb Class AABNB	FELC +0.54 points	0.06%	0.60%
Uber TechnologiesUBER	FELC +0.54 points	0.13%	0.67%
WalmartWMT	DYNF +0.53 points	1.14%	0.61%
Charles SchwabSCHW	FELC +0.53 points	0.18%	0.71%
Goldman Sachs GroupGS	DYNF +0.50 points	1.05%	0.55%
Bank of New York Mellon CorpBNY	FELC +0.48 points	0.12%	0.60%
FortinetFTNT	FELC +0.47 points	0.06%	0.53%
RtxRTX	DYNF +0.46 points	1.12%	0.66%
Thermo Fisher ScientificTMO	DYNF +0.45 points	0.66%	0.20%
UnitedHealth GroupUNH	FELC +0.45 points	0.47%	0.92%
Coca-ColaKO	FELC +0.45 points	0.07%	0.52%
Regeneron PharmaceuticalsREGN	FELC +0.45 points	0.22%	0.67%
WelltowerWELL	DYNF +0.43 points	0.92%	0.49%
Cme Group Class ACME	DYNF +0.42 points	0.71%	0.29%
Applied Material IncAMAT	DYNF +0.41 points	1.05%	0.64%
Occidental Petroleum CorpOXY	FELC +0.40 points	0.00%	0.40%
SandiskSNDK	FELC +0.39 points	0.05%	0.44%
Palantir Technologies Class APLTR	DYNF +0.39 points	0.73%	0.34%
QualcommQCOM	FELC +0.38 points	0.10%	0.48%
Altria Group IncMO	FELC +0.38 points	0.00%	0.38%
SempraSRE	FELC +0.38 points	<0.01%	0.38%
Procter & GamblePG	FELC +0.35 points	0.21%	0.56%
Costco Wholesale CorpCOST	FELC +0.35 points	0.22%	0.57%
MicrosoftMSFT	FELC +0.34 points	4.78%	5.12%
Gilead SciencesGILD	FELC +0.34 points	0.54%	0.88%
AppleAAPL	DYNF +0.33 points	8.27%	7.94%
Hartford Insurance GroupHIG	DYNF +0.33 points	0.57%	0.24%
Crowdstrike Holdings Class ACRWD	FELC +0.33 points	0.19%	0.52%
Meta Platforms Class AMETA	DYNF +0.32 points	2.37%	2.05%
Adobe IncADBE	FELC +0.31 points	0.25%	0.56%
Morgan StanleyMS	FELC +0.31 points	0.13%	0.44%
ProgressivePGR	FELC +0.30 points	0.32%	0.62%
ServicenowNOW	DYNF +0.31 points	0.35%	0.04%
NetflixNFLX	DYNF +0.31 points	0.71%	0.40%
Boston ScientificBSX	FELC +0.30 points	0.09%	0.39%
Ross Stores IncROST	FELC +0.30 points	<0.01%	0.30%
Western Digital CorpWDC	FELC +0.29 points	0.40%	0.69%
Intel CorporationINTC	FELC +0.28 points	0.46%	0.74%
Amazon.com IncAMZN	DYNF +0.27 points	4.00%	3.73%
IntuitINTU	DYNF +0.27 points	0.27%	0.00%
Keysight TechnologiesKEYS	FELC +0.26 points	0.03%	0.29%
Abbott LaboratoriesABT	FELC +0.25 points	0.02%	0.27%
Arista NetworksANET	FELC +0.24 points	0.06%	0.30%
Amphenol Corp Class AAPH	DYNF +0.25 points	0.70%	0.45%
Ge AerospaceGE	FELC +0.23 points	0.48%	0.71%
AT&TT	DYNF +0.22 points	0.64%	0.42%
AbbVieABBV	FELC +0.22 points	0.49%	0.71%
Ge VernovaGEV	FELC +0.21 points	0.51%	0.72%
Incyte CorpINCY	FELC +0.21 points	0.00%	0.21%
Us BancorpUSB	DYNF +0.21 points	0.21%	<0.01%
Home DepotHD	FELC +0.20 points	0.02%	0.22%
Lockheed MartinLMT	DYNF +0.19 points	0.23%	0.04%
HubspotHUBS	FELC +0.18 points	0.04%	0.22%
NVIDIANVDA	FELC +0.19 points	7.83%	8.02%
Comfort Systems UsaFIX	FELC +0.16 points	0.09%	0.25%
Prologis ReitPLD	DYNF +0.16 points	0.26%	0.10%
Zoom Communications Class AZM	FELC +0.16 points	0.02%	0.18%
Broadcom IncAVGO	FELC +0.16 points	2.40%	2.56%
NucorNUE	FELC +0.14 points	0.14%	0.28%
Howmet AerospaceHWM	FELC +0.15 points	0.12%	0.27%
Marathon PetroleumMPC	FELC +0.14 points	0.00%	0.14%
Seagate Technology Holdings PLCSTX	FELC +0.14 points	0.21%	0.35%
OracleORCL	DYNF +0.13 points	0.27%	0.14%
Fedex CorpFDX	FELC +0.13 points	0.14%	0.27%
Trane Technologies PLCTT	FELC +0.12 points	0.51%	0.63%
PepsicoPEP	FELC +0.13 points	0.11%	0.24%
Cboe Global MarketsCBOE	DYNF +0.12 points	0.12%	<0.01%
State StreetSTT	DYNF +0.12 points	0.12%	<0.01%
General MotorsGM	FELC +0.12 points	0.28%	0.40%
Monster BeverageMNST	FELC +0.12 points	0.00%	0.12%
Expedia GroupEXPE	FELC +0.11 points	0.03%	0.14%
Dollar General CorpDG	DYNF +0.11 points	0.11%	0.00%
PfizerPFE	FELC +0.10 points	0.30%	0.41%
CsxCSX	FELC +0.11 points	0.09%	0.20%
WoodwardWWD	DYNF +0.10 points	0.10%	0.00%

All 262 DYNF holdings⁠All 219 FELC 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.

DYNF vs FELC Cost

Overpaying DYNF vs FELC

$1,609

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

DYNF 0.26%
$5,358
FELC 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

DYNF 0.26%
FELC 0.18%
Overpaying

Year by year

Year	DYNF	FELC	Overpaying
10	$473	$328	$145
20	$1,838	$1,281	$557
30	$5,358	$3,749	$1,609

Expense ratio

0.26%DYNF
0.18%FELC, cheaper

FELC0.18%DYNF0.26%

0.00%2.89%

Middle half of US Active Equity funds
Median 0.68%

FELC 9th cheapest of 121 funds

DYNF 18th cheapest of 121 funds

DYNF vs FELC Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DYNF 0.84%; FELC 0.85%, better
Payout (12M): DYNF $0.56; FELC $0.36
Last payment: DYNF $0.14; FELC $0.09
Ex-dividend: DYNF Sep 15, 2026; FELC Sep 18, 2026
Paid on: DYNF Sep 18, 2026; FELC Sep 22, 2026
Frequency: DYNF Quarterly; FELC Quarterly

Distribution history

Per share, 2019 to 2026, same scale for both

DYNFQuarterly · 30 paymentsAll DYNF payments⁠

FELCQuarterly · 14 paymentsAll FELC payments⁠

DYNF vs FELC Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DYNF 13.1%FELC 11.8%since Dec 2023
Return per unit of riskSharpe ratio, 3 years: DYNF 1.55FELC 1.30since Dec 2023
Worst fallMax drawdown, 5 years: DYNF −26.9%FELC −18.6%since Nov 2023
Market sensitivityBeta, 5 years: DYNF 1.02FELC 1.01; Market = 1

DYNF and FELC in the news

All news⁠

ETF Filings
BlackRock files two Form 497Ks for iShares DYNF
Sep 7, 2026DYNF

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DYNF vs FELC

In short

Stated mandate

Why people hold it

Worth knowing

How DYNF and FELC differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DYNF

Only in FELC

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

BlackRock files two Form 497Ks for iShares DYNF

How DYNF and FELC differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DYNF

Only in FELC

Weight gaps