FELG vs GARY

FELGAFidelity Enhanced Large Cap Growth ETF

GARYCMango 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.

GARY Mango skips the enhanced-index playbook most peers run: quant screens plus fundamental research, hunting secular and thematic growers with strong earnings power. Launched in 2025 and priced like the active fund it is.

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.

GARY The Fund seeks long-term capital appreciation through active investment primarily in common stocks of companies with high growth characteristics. Its process combines quantitative analysis with fundamental research and generally emphasizes large-capitalization companies, while allowing investments across company sizes.

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.

• GARY Actively run rather than index-shadowed: a quant screen narrows the field, then fundamental research picks the secular and thematic names with strong earnings power.
• Plain 1940 Act ETF wrapper. Ordinary brokerage access, 1099 tax reporting, no K-1 at year end.
• The portfolio is the strongest part of the story, built and spread better than most of its growth-conviction peer group.
• The mandate is stated plainly: US growth equity, no hidden style drift into value or income to decode.

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.

• GARY The fee is 0.77% a year, above the typical charge in this peer group and several times what enhanced-index growth funds like JUSA and FELG carry.
• Launched in December 2025, so the quant-plus-fundamental process has a short public record and little data on how it handles a real drawdown.
• Trades lightly next to category heavyweights, so spreads can widen. Limit orders and mid-session trading matter more here than with a mega-fund.

Full FELG profile⁠

Full GARY profile⁠