FCPI vs VONV: Grades, Fees and Holdings Compared

Fidelity Stocks for Inflation ETF

FCPIBCboe

Vanguard Russell 1000 Value ETF

VONVANasdaq

Overlap

22.7%by weight

Expense ratio

VONV −0.09pt a year

FCPI0.15%VONV0.06%

Avg volume · 30D

VONV 39.3×the volume

FCPI19.7KVONV774K

5Y return · a year

FCPI +1.6pt

FCPI+13.3%VONV+11.7%

FCPI vs VONV Performance

Oct 29, 2021 – Oct 30, 2026

+86.8%FCPI+73.8%VONV

Expense ratio: FCPI 0.15%; VONV 0.06%, better
Fund size: FCPI $282M; VONV $23.3B
1Y total return: FCPI +13.6%; VONV +28.5%, better
Yield (12M): FCPI 1.53%; VONV 1.53%
Holdings: FCPI 102; VONV 873
Avg volume (30D): FCPI 19.7K sh; VONV 774K sh, better
NAV per share: FCPI $55.83; VONV $113.44
52W range

ETF.net Grade

Pillar letters and Scores for FCPI, VONV, with each pillar’s weight
Pillar	FCPI	VONV
Cost30% weight	A83	A96Higher
Mission25% weight	A80	A100Higher
Risk15% weight	B59	A86Higher
Tradability15% weight	C42	B60Higher
Holdings10% weight	D30	C49Higher
Durability5% weight	C41	A93Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. FCPI and VONV are both graded against the same 99 US Multifactor funds, so their Grades compare head to head.

US Multifactor⁠

Category · 99 funds

See all 99 ›

VONV ranks 1st and FCPI 35th of 99 funds in the US Multifactor Category.

Rank 1AVONVVanguard Russell 1000 Value ETFScore 85
Rank 2AILCViShares Morningstar Value ETFScore 81
Rank 32BULVMVictoryShares US Value Momentum ETFScore 66
Rank 35BFCPIFidelity Stocks for Inflation ETFScore 65
Rank 35BGSSCGoldman Sachs ActiveBeta U.S. Small Cap Equity ETFScore 65

Our read on each fund

ETF.net Research

FCPIBFidelity Stocks for Inflation ETF

VONVAVanguard Russell 1000 Value ETF

In short

FCPI A multifactor fund with an inflation twist: value, quality and momentum screens first, then a tilt toward industries that tend to outperform when prices are rising. All for 0.15% a year.

VONV The plain-vanilla value trade, done cheap: about 900 large US value stocks, full replication of the Russell 1000 Value Index, 0.06% a year. No factor cocktail, no premium price tag, and one of the strongest implementations in its factor peer group.

Stated mandate

FCPI The fund seeks investment returns that generally correspond, before fees and expenses, to the performance of the Fidelity Stocks for Inflation Factor IndexSM.

VONV The fund seeks to track the Russell 1000 Value Index, representing large-capitalization value stocks in the United States. It uses passive indexing and full replication to remain closely aligned with that benchmark.

Why people hold it

FCPI 0.15% a year, under half the 0.32% median for multifactor peers. The factor tilt isn't being eaten by the fee.
Value, quality and momentum is table stakes. The inflation overlay, emphasizing industries that tend to outperform in inflationary environments, is what sets this one apart.sec.gov
Live since 2019 and one of the stronger implementations in a crowded multifactor field, with a rules-based Fidelity index doing the picking.
About 100 large and mid-cap US stocks, paying quarterly.sec.gov

VONV 0.06% a year, a fraction of the typical fee among factor ETFs. On a rules-based value index there is little room for cleverness, so cost does most of the work.vanguard.com
Full replication, not sampling: it owns the index's roughly 900 names and has stayed tightly aligned with the Russell 1000 Value benchmark since launching in 2010.
Same Russell benchmark as pricier rivals for less: the Goldman MarketBeta version (GVUS) charges 0.12% to track the identical value index.
A multi-billion-dollar fund that trades actively, among the easiest in its group to get in and out of, and it distributes quarterly.

Worth knowing

FCPI It trades thinly. Spreads can run wider than on heavily traded peers like VYM or IUSG, which matters most on larger orders.
Roughly 100 names, not 500. Single stocks and the industry tilts carry real weight, so results can drift from the broad market.
The benchmark is Fidelity's own proprietary index rather than a third-party one, and the inflation screen has only been running in live markets since 2019.sec.gov

VONV One screen, one style. Value only, with no quality or momentum overlay, so the ride follows the value side of the market wherever it goes.vanguard.com
This is the entire value bucket, not a best-ideas portfolio. About 900 holdings means results hug the large-cap value category rather than stray from it.
Cheaper exists nearby: Vanguard's VYM charges 0.04%, but it screens for dividend yield, a different portfolio than a Russell value index.

Full FCPI profile⁠

Full VONV profile⁠

FCPI vs VONV Holdings

How FCPI and VONV differ

Overlap by weight

22.7%

Shared holdings make up 68.5% of FCPI and 24.6% of VONV.

Level by level

Holdings65 in both22.7%
Sector11 Sectors76.9%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in FCPI and VONV, widest gap first
Sector	More in FCPIMore in VONV	FCPI	VONV
Financials	VONV +11.3 points	6.6%	17.9%
Technology	FCPI +10.2 points	32.1%	21.9%
Consumer Discretionary	VONV +6.5 points	3.9%	10.4%
Industrials	VONV +5.4 points	4.1%	9.5%
Materials	FCPI +4.3 points	7.6%	3.3%
Energy	FCPI +3.9 points	10.1%	6.2%
Consumer Staples	FCPI +1.8 points	9.0%	7.2%
Communication	FCPI +1.8 points	5.2%	3.4%
Health Care	FCPI +0.9 points	14.3%	13.4%
Real Estate	FCPI +0.3 points	3.8%	3.5%
Utilities	Same weight	3.4%	3.4%

Country, concentration and asset class

Country by domicile

Country weights in FCPI and VONV, widest gap first
Country	More in FCPIMore in VONV	FCPI	VONV
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

FCPI40.3%
VONV29.8%

Securities held

FCPI99
VONV871

Asset class

FCPI: Equity
VONV: Equity

Holdings

Only in FCPI34
In both65
Only in VONV806

Only in FCPI

34 securities, 31.4% of FCPI by weight

NVIDIA Corp6.27%
Anglogold Ashanti PLC3.31%
Pbf Energy Inc Class A3.30%
Broadcom Inc2.07%
Simon Ppty Group Inc - Reit1.98%
Alphabet Inc Class A1.89%
Micron Technology Inc1.42%
Advanced Micro Devices Inc1.29%
Visa Inc Class A1.14%
Applied Materials Inc0.53%
Texas Instruments Inc0.53%
Lam Research Corp0.52%
Caterpillar Inc0.51%
Airbnb Inc Class A0.51%
Matson Inc0.46%
Carnival Corp Ltd0.45%
Vertiv Holdings Co0.43%
Accenture PLC Class A0.43%
Sandisk Corporation0.41%
Expedia Inc0.41%
Kla Corp0.41%
The Booking Holdings Inc0.38%
Enova Intl Inc0.37%
Comfort Systems Usa Inc0.35%
Seagate Techn Holdings PLC0.33%
Western Digital Corp0.31%
Sterling Infrastructure Inc0.30%
Nxp Semiconductors NV0.28%
Argan Inc0.25%
Fortinet Inc0.25%
Teradyne Inc0.19%
Applovin Corp0.09%
Ust Bills 0% 11/12/26<0.01%
SP500 Mic Emin FUTDEC26 HWAZ6<0.01%

Only in VONV

806 securities, 75.3% of VONV by weight

Amazon.com Inc6.09%
Berkshire Hathaway Inc2.55%
JPMorgan Chase & Co2.43%
ExxonMobil Holdings Corp1.84%
Intel Corp1.51%
AbbVie Inc1.17%
Walmart Inc1.15%
Chevron Corp1.04%
UnitedHealth Group Inc0.91%
Bank of America Corp0.91%
Philip Morris International Inc0.82%
Coca-Cola Co/The0.81%
Thermo Fisher Scientific Inc0.69%
RTX Corp0.69%
Goldman Sachs Group Inc/The0.67%
Wells Fargo & Co0.67%
Costco Wholesale Corp0.63%
Linde PLC0.60%
Morgan Stanley0.58%
International Business Machines Corp0.57%
Gilead Sciences Inc0.51%
Salesforce Inc0.50%
Walt Disney Co/The0.50%
Abbott Laboratories0.47%
Welltower Inc0.46%
Deere & Co0.46%
McDonald's Corp0.45%
Pfizer Inc0.45%
Blackrock Inc0.44%
ConocoPhillips0.42%
PepsiCo Inc0.42%
Union Pacific Corp0.41%
Charles Schwab Corp/The0.41%
Eaton Corp PLC0.39%
Danaher Corp0.39%
Vertex Pharmaceuticals Inc0.37%
Prologis Inc0.34%
Progressive Corp/The0.33%
Uber Technologies Inc0.33%
Parker-Hannifin Corp0.33%
S&P Global Inc0.32%
Chubb Ltd0.31%
American Express Co0.31%
Accenture PLC0.31%
Medtronic PLC0.30%
CVS Health Corp0.30%
Lowe's Cos Inc0.28%
Freeport-McMoRan Inc0.28%
Equinix Inc0.27%
Phillips 660.26%

Weight gaps

All 65 Holdings in both funds, largest gap first.

Holding weights in FCPI and VONV, widest gap first
Holding	More in FCPIMore in VONV	FCPI	VONV
Apa CorpAPA	FCPI +3.74 points	3.78%	0.04%
Newmont CorpNEM	FCPI +3.39 points	3.72%	0.33%
Valero Energy CorpVLO	FCPI +3.27 points	3.54%	0.27%
Altria Group IncMO	FCPI +2.26 points	2.57%	0.31%
Host Hotels & Resorts IncHST	FCPI +2.11 points	2.15%	0.04%
Colgate-Palmolive CoCL	FCPI +2.11 points	2.22%	0.11%
Darling Ingredients IncDAR	FCPI +1.91 points	1.94%	0.03%
Procter & Gamble CoPG	FCPI +1.89 points	2.82%	0.93%
Edison IntlEIX	FCPI +1.59 points	1.65%	0.06%
Nextera EnergyNEE	FCPI +1.58 points	2.02%	0.43%
Royalty Pharma PLCRPRX	FCPI +1.54 points	1.61%	0.07%
United Therapeutics Corp DelUTHR	FCPI +1.50 points	1.56%	0.06%
Centene CorpCNC	FCPI +1.43 points	1.51%	0.08%
Regeneron Pharmaceuticals IncREGN	FCPI +1.35 points	1.56%	0.21%
Incyte CorpINCY	FCPI +1.32 points	1.38%	0.06%
Bristol-Myers Squibb CoBMY	FCPI +1.13 points	1.48%	0.35%
Jazz Pharma PLCJAZZ	FCPI +1.09 points	1.13%	0.04%
Iridium Communications IncIRDM	FCPI +1.07 points	1.08%	<0.01%
Merck & Co Inc NewMRK	FCPI +1.06 points	2.05%	0.99%
Johnson & JohnsonJNJ	FCPI +0.62 points	2.37%	1.75%
Renaissancere Hldgs LtdRNR	FCPI +0.52 points	0.56%	0.04%
Cisco Systems IncCSCO	VONV +0.51 points	0.66%	1.17%
Gamestop Corp Class AGME	FCPI +0.50 points	0.53%	0.03%
Western Alliance BancorpWAL	FCPI +0.49 points	0.51%	0.02%
Zions BancorpZION	FCPI +0.47 points	0.50%	0.03%
Synchrony FinancialSYF	FCPI +0.47 points	0.53%	0.06%
Marriott International Inc AMAR	FCPI +0.47 points	0.52%	0.05%
Popular IncBPOP	FCPI +0.46 points	0.48%	0.02%
Block H & R IncHRB	FCPI +0.45 points	0.46%	0.01%
Microsoft CorpMSFT	VONV +0.42 points	4.82%	5.24%
Travelers Companies IncTRV	FCPI +0.41 points	0.61%	0.20%
Ross Stores IncROST	FCPI +0.40 points	0.43%	0.03%
Macys IncM	FCPI +0.40 points	0.42%	0.02%
Ameriprise Financial IncAMP	FCPI +0.39 points	0.50%	0.11%
Allstate CorporationALL	FCPI +0.38 points	0.54%	0.16%
Verizon Communications IncVZ	VONV +0.36 points	0.17%	0.53%
Snap-On IncorporatedSNA	FCPI +0.32 points	0.37%	0.05%
Nextpower IncNXT	FCPI +0.31 points	0.34%	0.03%
Mueller Industries IncMLI	FCPI +0.30 points	0.34%	0.04%
AT&T IncT	VONV +0.30 points	0.15%	0.45%
Capital One Financial CorpCOF	FCPI +0.28 points	0.60%	0.32%
Cummins IncCMI	FCPI +0.27 points	0.38%	0.11%
Adobe IncADBE	FCPI +0.20 points	0.28%	0.08%
Netapp IncNTAP	FCPI +0.18 points	0.25%	0.07%
Citigroup IncC	FCPI +0.17 points	0.67%	0.50%
Apple IncAAPL	FCPI +0.16 points	6.23%	6.07%
Cognizant Tech Solutions Class ACTSH	FCPI +0.15 points	0.22%	0.07%
Arrow Electronics IncARW	FCPI +0.15 points	0.18%	0.03%
Avnet IncAVT	FCPI +0.15 points	0.17%	0.02%
Hp IncHPQ	FCPI +0.15 points	0.23%	0.08%
Cirrus Logic IncCRUS	FCPI +0.15 points	0.17%	0.02%
Globalfoundries IncGFS	FCPI +0.14 points	0.16%	0.02%
Sanmina CorpSANM	FCPI +0.14 points	0.16%	0.02%
Zoom Communications Inc Class AZM	FCPI +0.13 points	0.20%	0.07%
On Semiconductor CorpON	FCPI +0.12 points	0.20%	0.08%
Amkor Technology IncAMKR	FCPI +0.12 points	0.14%	0.02%
Meta Platforms Inc Class AMETA	FCPI +0.11 points	0.91%	0.80%
Qualcomm IncQCOM	VONV +0.10 points	0.43%	0.53%
Comcast Corp Class ACMCSA	VONV +0.10 points	0.11%	0.21%
First Solar IncFSLR	FCPI +0.10 points	0.15%	0.05%
Mks IncMKSI	FCPI +0.10 points	0.14%	0.04%
Match Group IncMTCH	FCPI +0.05 points	0.08%	0.03%
Analog Devices IncADI	VONV +0.04 points	0.45%	0.49%
Versant Media Group Inc - AVSNT	FCPI +0.05 points	0.06%	0.01%
Dell Technologies Inc Class CDELL	VONV +0.04 points	0.35%	0.39%

All 105 FCPI holdings⁠All 872 VONV 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.

FCPI vs VONV Cost

Overpaying FCPI vs VONV

$1,867

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

FCPI 0.15%
$3,137
VONV 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

FCPI 0.15%
VONV 0.06%
Overpaying

Year by year

Year	FCPI	VONV	Overpaying
10	$274	$110	$164
20	$1,071	$432	$639
30	$3,137	$1,270	$1,867

Expense ratio

0.15%FCPI
0.06%VONV, cheaper

VONV0.06%FCPI0.15%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

VONV 4th cheapest of 99 funds

FCPI 13th cheapest of 99 funds

FCPI vs VONV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FCPI 1.53%; VONV 1.53%
Payout (12M): FCPI $0.86; VONV $1.74
Last payment: FCPI $0.15; VONV $0.42
Ex-dividend: FCPI Sep 18, 2026; VONV Sep 23, 2026
Paid on: FCPI Sep 22, 2026; VONV Sep 25, 2026
Frequency: FCPI Quarterly; VONV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FCPIQuarterly · 29 paymentsAll FCPI payments⁠

VONVQuarterly · 39 paymentsAll VONV payments⁠

FCPI vs VONV Risk

Fall from peak · 5 years

FCPI
VONV

Risk facts

VolatilityStd dev, 3 years: FCPI 12.1%VONV 12.1%
Return per unit of riskSharpe ratio, 3 years: FCPI 1.41VONV 1.43, better
Worst fallMax drawdown, 5 years: FCPI −18.2%, betterVONV −18.9%
Market sensitivityBeta, 5 years: FCPI 0.92VONV 0.85; Market = 1

FCPI and VONV in the news

All news⁠

Best ETFs
Best value ETFs: Vanguard's 0.03% fund, unless you want Russell's list
Updated Nov 2, 2026VONV
Best ETFs
The best value ETF depends on whose list you bought
Updated Oct 2, 2026VONV
Category Review
US multifactor funds ran 30 points apart
Updated Oct 23, 2026VONV

Popular comparisons

FCPIBvsILCVA
Fidelity Stocks for Inflation ETF · iShares Morningstar Value ETF
Expense ratio
0.15% · 0.04%
Category
VONVAvsILCVA
Vanguard Russell 1000 Value ETF · iShares Morningstar Value ETF
Expense ratio
0.06% · 0.04%
Category
FCPIBvsVYMA
Fidelity Stocks for Inflation ETF · Vanguard High Dividend Yield ETF
Expense ratio
0.15% · 0.04%
Category
VONVAvsVYMA
Vanguard Russell 1000 Value ETF · Vanguard High Dividend Yield ETF
Expense ratio
0.06% · 0.04%
Category
FCPIBvsIMCVA
Fidelity Stocks for Inflation ETF · iShares Morningstar Mid-Cap Value ETF
Expense ratio
0.15% · 0.06%
Category
VONVAvsIMCVA
Vanguard Russell 1000 Value ETF · iShares Morningstar Mid-Cap Value ETF
Expense ratio
0.06% · 0.06%
Category

FCPI vs VONV

In short

Stated mandate

Why people hold it

Worth knowing

How FCPI and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FCPI

Only in VONV

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Best value ETFs: Vanguard's 0.03% fund, unless you want Russell's list

The best value ETF depends on whose list you bought

US multifactor funds ran 30 points apart

How FCPI and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FCPI

Only in VONV

Weight gaps