FELG vs FLCG: Grades, Fees and Holdings Compared

Fidelity Enhanced Large Cap Growth ETF

FELGANYSE Arca

Federated Hermes MDT Large Cap Growth ETF

FLCGBNYSE Arca

Overlap

67.3%by weight

Expense ratio

FELG −0.21pt a year

FELG0.18%FLCG0.39%

Avg volume · 30D

FELG 5.0×the volume

FELG379KFLCG75.3K

FELG vs FLCG Performance

Oct 31, 2025 – Oct 30, 2026

−0.5%FELG−0.3%FLCG

Expense ratio: FELG 0.18%, better; FLCG 0.39%
Fund size: FELG $5.78B; FLCG $702M
1Y total return: FELG −0.5%; FLCG −0.3%, better
Yield (12M): FELG 0.37%, better; FLCG 0.05%
Holdings: FELG 133; FLCG 101
Avg volume (30D): FELG 379K sh, better; FLCG 75.3K sh
NAV per share: FELG $42.20; FLCG $34.35
52W range

ETF.net Grade

Pillar letters and Scores for FELG, FLCG, with each pillar’s weight
Pillar	FELG	FLCG
Cost30% weight	A99Higher	A82
Mission25% weight	A82	Not scored
Risk15% weight	C51	B59Higher
Tradability15% weight	A85Higher	B63
Holdings10% weight	C52	C54Higher
Durability5% weight	A95Higher	B68

Rank among US Active Growth funds

How we build Categories ›

Same Category. FELG and FLCG 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 FLCG 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 9BAGRWAllspring LT Large Growth ETFScore 68
Rank 9BFLCGFederated Hermes MDT Large Cap Growth ETFScore 68
Rank 9BMAGSRoundhill Magnificent Seven ETFScore 68

Our read on each fund

ETF.net Research

FELGAFidelity Enhanced Large Cap Growth ETF

FLCGBFederated Hermes MDT Large Cap Growth ETF

In short

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.

FLCG Federated Hermes dropped its decades-old MDT quant engine into an ETF in 2024: a bottom-up model picks roughly 100 large-cap growth names from the Russell 1000 Growth universe, aiming for an edge without straying far from the benchmark.

Stated mandate

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.

FLCG The Fund seeks long-term capital appreciation.

Why people hold it

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.

FLCG Cheap for an active mandate: 0.39% net of a waiver through May 1, 2027 (0.51% gross), below the median fee in its large-growth peer group.federatedhermes.com
The ETF is young, the engine is not. MDT has run systematic US equity strategies since 1991, and this large-cap growth mandate has an institutional track record dating to 2004.hermes-investment.com federatedhermes.com
Risk control is written into the mandate: the strategy targets excess return with moderate tracking error versus the Russell 1000 Growth Index, so style drift stays contained.federatedhermes.com
Around 100 holdings and a stated aim of long-term capital appreciation, which makes this a broad slice of US growth rather than a handful of concentrated bets.

Worth knowing

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.

FLCG Systematic large-growth exposure comes cheaper elsewhere: JUSA and FELG each charge 0.18%, with no waiver propping up the number.
The ETF only started trading in 2024, so the risk picture rests on a short window of its own data rather than a full market cycle.
Volume is moderate rather than heavy, so spreads can widen in fast markets, and distributions land once or twice a year, not monthly.

Full FELG profile⁠

Full FLCG profile⁠

FELG vs FLCG Holdings

How FELG and FLCG differ

Overlap by weight

67.3%

Shared holdings make up 84.0% of FLCG and 79.5% of FELG.

Level by level

Holdings50 in both67.3%
Sector11 Sectors95.2%
Asset classEquity100%
Countryby domicile99.7%

Sector

Sector weights in FELG and FLCG, widest gap first
Sector	More in FELGMore in FLCG	FELG	FLCG
Financials	FELG +3.1 points	5.5%	2.4%
Consumer Discretionary	FLCG +1.4 points	6.4%	7.8%
Communication	FLCG +1.2 points	14.6%	15.8%
Technology	FLCG +1.0 points	58.7%	59.7%
Consumer Staples	FLCG +1.0 points	0.1%	1.1%
Industrials	FELG +0.8 points	7.9%	7.1%
Health Care	FELG +0.8 points	6.1%	5.3%
Materials	FLCG +0.3 points	0.5%	0.8%
Real Estate	FELG +0.1 points	0.1%	0.0%
Energy	Same weight	0.2%	0.1%
Utilities	Same weight	0.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in FELG and FLCG, widest gap first
Country	More in FELGMore in FLCG	FELG	FLCG
United States	FELG +0.3 points	100.0%	99.7%
Brazil	FLCG +0.2 points	0.0%	0.2%
United Kingdom	FLCG +0.1 points	0.0%	0.1%

Concentration

Weight in the 10 largest Holdings

FELG57.6%
FLCG54.9%

Securities held

FELG131
FLCG100

Asset class

FELG: Equity
FLCG: Equity

Holdings

Only in FELG81
In both50
Only in FLCG50

Only in FELG

81 securities, 19.8% of FELG by weight

Alphabet Inc Class C2.61%
Mastercard Inc Class A1.87%
Visa Inc Class A1.54%
Texas Instruments Inc1.42%
Expedia Inc0.63%
Gilead Sciences Inc0.56%
Howmet Aerospace Inc0.55%
Schwab Charles Corp0.53%
Rtx Corp0.52%
Ecolab Inc0.52%
Bristol-Myers Squibb Co0.51%
Bank of America Corporation0.51%
Unity Software Inc0.47%
Cisco Systems Inc0.46%
Hubspot Inc0.45%
Ciena Corp0.39%
Seagate Techn Holdings PLC0.38%
Incyte Corp0.35%
Eaton Corp PLC0.34%
Lyft Inc0.34%
Veralto Corp0.30%
Travere Therapeutics Inc0.30%
Zoom Communications Inc Class A0.27%
Home Depot Inc0.23%
Ross Stores Inc0.22%
Draftkings Holdings Inc0.22%
S&P Global Inc0.20%
Space Exploration Tech Corp A0.19%
Technipfmc PLC0.19%
Oscar Health Inc - Class A0.17%
Morgan Stanley0.16%
Merck & Co Inc New0.16%
Kulicke & Soffa Industries Inc0.16%
Griffon Corp0.14%
Marvell Technology Inc0.13%
Cirrus Logic Inc0.13%
Progressive Corp Ohio0.12%
Wesco International Inc0.11%
Ebay Inc0.10%
Mongodb Inc Class A0.10%
Guardant Health Inc0.09%
Clear Secure Inc0.09%
Parker Hannifin Corp0.09%
Navan Inc A0.09%
Tradeweb Markets Inc A0.08%
Applied Industrial Tech Inc0.08%
The Booking Holdings Inc0.08%
Intel Corp0.07%
Roku Inc Class A0.07%
Cencora Inc0.07%

Only in FLCG

50 securities, 16.0% of FLCG by weight

Fiserv Inc1.82%
Ameriprise Financial Inc1.67%
Five Below1.11%
Intuit Inc0.93%
Viking Holdings Ltd0.88%
Regeneron Pharmaceuticals0.82%
Allison Transmission Hold0.74%
Lululemon Athletica Inc0.61%
Jabil Inc0.54%
Federated Govt Obli Fd-Pr0.51%
AbbVie Inc0.45%
Coherent Corp0.38%
Southern Copper Corp0.37%
Cadence Design Sys Inc0.35%
Paycom Software Inc0.35%
Gartner Inc0.35%
Amgen Inc0.33%
Coupang Inc0.32%
Corning Inc0.29%
Trade Desk Inc/The -Class0.28%
Sharkninja Inc0.27%
Align Technology Inc0.22%
Everpure Inc-A0.20%
Rubrik Inc-A0.19%
Weatherford International0.18%
Stoneco Ltd-A0.17%
Pegasystems Inc0.17%
Wayfair Inc- Class A0.15%
Acuity Inc0.12%
Pinterest Inc- Class A0.12%
Chewy Inc - Class A0.10%
Western Union Co0.10%
Nvent Electric PLC0.09%
On Semiconductor0.09%
Ulta Beauty Inc0.08%
Interactive Brokers Gro-C0.08%
Cummins Inc0.06%
Insulet Corp0.06%
Rockwell Automation Inc0.05%
Spotify Technology SA0.05%
Celanese Corp0.05%
Advanced Energy Industrie0.05%
Autodesk Inc0.04%
Zoominfo Technologies Inc0.04%
Carpenter Technology0.04%
Tyler Technologies Inc0.03%
Hecla Mining Co0.03%
Mastec Inc0.03%
Copart Inc0.03%
Illumina Inc<0.01%

Weight gaps

All 50 Holdings in both funds, largest gap first.

Holding weights in FELG and FLCG, widest gap first
Holding	More in FELGMore in FLCG	FELG	FLCG
Alphabet Inc Class AGOOGL	FLCG +4.12 points	6.48%	10.60%
Arista Networks IncANET	FLCG +2.29 points	0.31%	2.60%
Broadcom IncAVGO	FELG +2.03 points	4.65%	2.62%
Crowdstrike Holdings IncCRWD	FLCG +1.66 points	0.98%	2.64%
Bank of New York Mellon CorpBNY	FLCG +1.18 points	0.53%	1.71%
Meta Platforms Inc Class AMETA	FELG +1.07 points	3.43%	2.36%
Microsoft CorpMSFT	FELG +1.07 points	5.40%	4.33%
Keysight Technologies IncKEYS	FLCG +1.05 points	0.47%	1.52%
Micron Technology IncMU	FELG +0.97 points	3.69%	2.72%
Eli Lilly & CoLLY	FELG +0.93 points	3.90%	2.98%
Advanced Micro Devices IncAMD	FELG +0.87 points	2.28%	1.41%
Fortinet IncFTNT	FLCG +0.87 points	0.67%	1.54%
Ge Vernova IncGEV	FLCG +0.86 points	1.20%	2.06%
Ge AerospaceGE	FLCG +0.83 points	1.44%	2.27%
Veeva Sys Inc Class AVEEV	FLCG +0.79 points	0.02%	0.81%
Apple IncAAPL	FELG +0.71 points	8.80%	8.09%
Adobe IncADBE	FELG +0.59 points	0.76%	0.17%
Trane Technologies PLCTT	FELG +0.57 points	0.80%	0.23%
Netapp IncNTAP	FLCG +0.54 points	0.23%	0.77%
Western Digital CorpWDC	FLCG +0.49 points	0.93%	1.42%
Costco Wholesale CorpCOST	FLCG +0.43 points	0.12%	0.55%
NVIDIA CorpNVDA	FELG +0.41 points	15.60%	15.19%
Atlassian Corp PLC Cls ATEAM	FELG +0.42 points	0.54%	0.12%
Caterpillar IncCAT	FELG +0.38 points	0.94%	0.56%
Netflix IncNFLX	FLCG +0.33 points	0.88%	1.21%
Applied Materials IncAMAT	FELG +0.32 points	1.22%	0.90%
Amazon.com IncAMZN	FELG +0.27 points	0.58%	0.31%
Northern Trust CorpNTRS	FLCG +0.25 points	0.09%	0.34%
Anglogold Ashanti PLC	FLCG +0.22 points	0.03%	0.25%
Uber Technologies IncUBER	FELG +0.21 points	0.55%	0.34%
Docusign IncDOCU	FELG +0.21 points	0.32%	0.11%
Amphenol Corporation Class AAPH	FLCG +0.20 points	0.90%	1.10%
Palo Alto Networks IncPANW	FELG +0.19 points	0.40%	0.21%
Vertiv Holdings CoVRT	FLCG +0.19 points	0.27%	0.46%
Maplebear IncCART	FELG +0.18 points	0.49%	0.31%
Tesla IncTSLA	FLCG +0.15 points	3.02%	3.17%
Oracle CorpORCL	FELG +0.15 points	0.20%	0.05%
Johnson Controls Internatl PLC	FLCG +0.11 points	0.16%	0.27%
Snowflake IncSNOW	FLCG +0.11 points	0.55%	0.66%
Quanta Svcs IncPWR	FELG +0.11 points	0.30%	0.19%
Palantir Technologies IncPLTR	FELG +0.10 points	1.02%	0.92%
Datadog Inc Class ADDOG	FELG +0.09 points	0.21%	0.12%
Sandisk CorporationSNDK	FELG +0.09 points	0.84%	0.75%
Airbnb Inc Class AABNB	FELG +0.09 points	0.75%	0.66%
Comfort Systems Usa IncFIX	FELG +0.08 points	0.51%	0.43%
Chime Financial IncCHYM	FELG +0.07 points	0.37%	0.30%
Lam Research CorpLRCX	FELG +0.05 points	0.63%	0.58%
Cloudflare IncNET	FELG +0.04 points	0.10%	0.06%
Natera IncNTRA	FLCG +0.02 points	0.17%	0.19%
Kla CorpKLAC	Same weight	0.78%	0.78%

All 109 FELG holdings⁠All 99 FLCG 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.

FELG vs FLCG Cost

Overpaying FLCG vs FELG

$4,149

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

FELG 0.18%
$3,749
FLCG 0.39%
$7,898

Amount$10,000

Years30 years

Cost over time

FELG 0.18%
FLCG 0.39%
Overpaying

Year by year

Year	FELG	FLCG	Overpaying
10	$328	$705	$377
20	$1,281	$2,725	$1,444
30	$3,749	$7,898	$4,149

Expense ratio

0.18%FELG, cheaper
0.39%FLCG

FELG0.18%FLCG0.39%

0.18%2.83%

Middle half of US Active Growth funds
Median 0.55%

FELG cheapest of 90 funds

FLCG 14th cheapest of 90 funds

FELG vs FLCG Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FELG 0.37%, better; FLCG 0.05%
Payout (12M): FELG $0.16; FLCG $0.02
Last payment: FELG $0.04; FLCG $0.02
Ex-dividend: FELG Sep 18, 2026; FLCG Dec 31, 2025
Paid on: FELG Sep 22, 2026; FLCG Jan 2, 2026
Frequency: FELG Quarterly; FLCG Irregular

Distribution history

Per share, 2023 to 2026, same scale for both

FELGQuarterly · 14 paymentsAll FELG payments⁠

FLCGIrregular · 2 paymentsAll FLCG payments⁠

FELG vs FLCG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FELG 16.3%since Dec 2023FLCG 16.1%since Aug 2024
Return per unit of riskSharpe ratio, 3 years: FELG 0.93since Dec 2023FLCG 0.62since Aug 2024
Worst fallMax drawdown, 5 years: FELG −23.9%since Nov 2023FLCG −23.0%since Jul 2024
Market sensitivityBeta, 5 years: FELG 1.23FLCG 1.14; Market = 1

FELG and FLCG in the news

All news⁠

ETF Filings
BlackRock files to convert Advantage Large Cap Growth into a 0.22% ETF
Sep 29, 2026FELG

Popular comparisons

FELGAvsJUSAA
Fidelity Enhanced Large Cap Growth ETF · JPMorgan U.S. Research Enhanced Large Cap ETF
Expense ratio
0.18% · 0.18%
Category
FLCGBvsJUSAA
Federated Hermes MDT Large Cap Growth ETF · JPMorgan U.S. Research Enhanced Large Cap ETF
Expense ratio
0.39% · 0.18%
Category
FELGAvsGUSEA
Fidelity Enhanced Large Cap Growth ETF · Goldman Sachs Enhanced U.S. Equity ETF
Expense ratio
0.18% · 0.30%
Category
FLCGBvsGUSEA
Federated Hermes MDT Large Cap Growth ETF · Goldman Sachs Enhanced U.S. Equity ETF
Expense ratio
0.39% · 0.30%
Category
FELGAvsLRGCA
Fidelity Enhanced Large Cap Growth ETF · AB US Large Cap Strategic Equities ETF
Expense ratio
0.18% · 0.39%
Category
FLCGBvsLRGCA
Federated Hermes MDT Large Cap Growth ETF · AB US Large Cap Strategic Equities ETF
Expense ratio
0.39% · 0.39%
Category

FELG vs FLCG

In short

Stated mandate

Why people hold it

Worth knowing

How FELG and FLCG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FELG

Only in FLCG

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 FELG and FLCG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FELG

Only in FLCG

Weight gaps