FELG vs IWFG

FELGAFidelity Enhanced Large Cap Growth ETF

IWFGBNYLI Winslow Focused 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.

IWFG Winslow Capital is a growth-only shop, and IWFG is its concentrated cut: roughly two dozen US large-cap growth names, non-diversified by design, at 0.46% net of a waiver through August 28, 2027.

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.

IWFG The Fund’s stated objective is 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.

• IWFG Concentration is the product: around two dozen large US growth names, non-diversified by design, so the team's top ideas carry real weight instead of being diluted by a long tail.sec.gov
• 0.46% net of a waiver through August 28, 2027, which lands below the median fee among its conviction-growth peers.
• Not a side project: Winslow runs US large-cap growth money for institutions and separate accounts, and this ETF is the focused, high-conviction version of that research.nylim.comnylim.com 2
• At least 80% of net assets sit in companies above $4 billion in market cap, so it stays a large-cap sleeve rather than drifting down the size scale.sec.gov

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.

• IWFG A 20-something-stock, non-diversified book cuts both ways: one name's stumble or surge shows up in results fast, and sector bets can get lopsided.sec.gov
• That 0.46% rests on a waiver running through August 28, 2027. Gross expenses are 0.94%, so the cost rises if the waiver is not extended.
• Small fund, light trading volume, and a mandate aimed at long-term capital appreciation rather than income, so spreads can be wider than at the giant growth index funds.

Full FELG profile⁠

Full IWFG profile⁠