FELG vs PCLG: Grades, Fees and Holdings Compared

Fidelity Enhanced Large Cap Growth ETF

FELGANYSE Arca

Polen Focus Growth ETF

PCLGCNYSE Arca

Overlap

37.0%by weight

Expense ratio

FELG −0.31pt a year

FELG0.18%PCLG0.49%

Avg volume · 30D

FELG 20.2×the volume

FELG379KPCLG18.7K

FELG vs PCLG Performance

Oct 31, 2025 – Nov 2, 2026

−1.7%FELG−14.0%PCLG

Expense ratio: FELG 0.18%, better; PCLG 0.49%
Fund size: FELG $5.78B; PCLG $86M
1Y total return: FELG −1.7%, better; PCLG −14.0%
Yield (12M): FELG 0.37%; PCLG No data
Holdings: FELG 132; PCLG 28
Avg volume (30D): FELG 379K sh, better; PCLG 18.7K sh
NAV per share: FELG $42.20; PCLG $21.95
52W range

ETF.net Grade

Pillar letters and Scores for FELG, PCLG, with each pillar’s weight
Pillar	FELG	PCLG
Cost30% weight	A99Higher	B62
Mission25% weight	A82Higher	A75
Risk15% weight	C51Higher	F15
Tradability15% weight	A85Higher	C40
Holdings10% weight	C52Higher	C43
Durability5% weight	A95Higher	C42

Rank among US Active Growth funds

How we build Categories ›

Same Category. FELG and PCLG 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 PCLG 58th 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 54CCWSAdvisorShares Focused Equity ETFScore 45
Rank 58CPCLGPolen Focus Growth ETFScore 44
Rank 59CGARYMango Growth ETFScore 43

Our read on each fund

ETF.net Research

FELGAFidelity Enhanced Large Cap Growth ETF

PCLGCPolen Focus 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.

PCLG Polen Capital's flagship Focus Growth playbook, ETF-wrapped: roughly 25 large companies picked for durable competitive advantages and steady earnings growth. Conviction over count, with no index to hide behind.

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.

PCLG The Fund seeks long-term growth of capital.

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.

PCLG Concentration is the design, not an accident: roughly 25 high-conviction growth companies held with low turnover, so research rather than index weights sets the portfolio.polencapital.com polencapital.com 2
The quality bar is spelled out: high returns on capital, a record of double-digit earnings growth, strong balance sheets and free cash flow, proven management.polencapital.com polencapital.com 2
At 0.49%, the fee sits below the 0.54% median for its active conviction-growth peer group, which is unusual for a boutique manager's marquee strategy.

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.

PCLG Non-diversified by charter. With a portfolio this focused, one company's stumble lands harder than it would inside a broad large-cap index fund.yahoo.com polencapital.com
Launched in 2025 and thinly traded, so bid-ask spreads can run wider than the mega-ETFs and larger orders deserve more care.
Index-plus rivals in the same cohort cost less: JUSA at 0.12%, FELG at 0.18%. Hand-picked concentration carries a higher price tag.

Full FELG profile⁠

Full PCLG profile⁠

FELG vs PCLG Holdings

How FELG and PCLG differ

Overlap by weight

37.0%

Shared holdings make up 80.1% of PCLG and 45.2% of FELG.

Level by level

Holdings19 in both37.0%
Countryby domicile91.1%
Asset classEquity100%

Sector

No Sector split for PCLG.

Country, concentration and asset class

Country by domicile

Country weights in FELG and PCLG, widest gap first
Country	More in FELGMore in PCLG	FELG	PCLG
United States	FELG +8.9 points	100.0%	91.1%
Canada	PCLG +4.1 points	0.0%	4.1%
Netherlands	PCLG +2.8 points	0.0%	2.8%
Taiwan	PCLG +2.0 points	0.0%	2.0%

Concentration

Weight in the 10 largest Holdings

FELG57.9%
PCLG62.7%

Securities held

FELG131
PCLG28

Asset class

FELG: Equity
PCLG: Equity

Holdings

Only in FELG112
In both19
Only in PCLG9

Only in FELG

112 securities, 54.1% of FELG by weight

Apple Inc8.95%
Alphabet Inc Class A6.58%
Micron Technology Inc3.59%
Tesla Inc3.08%
Advanced Micro Devices Inc2.10%
Texas Instruments Inc1.40%
Applied Materials Inc1.16%
Palantir Technologies Inc0.99%
Crowdstrike Holdings Inc0.97%
Caterpillar Inc0.93%
Netflix Inc0.91%
Amphenol Corporation Class A0.90%
Western Digital Corp0.89%
Adobe Inc0.79%
Trane Technologies PLC0.78%
Kla Corp0.76%
Sandisk Corporation0.75%
Fortinet Inc0.67%
Expedia Inc0.65%
Gilead Sciences Inc0.59%
Uber Technologies Inc0.56%
Rtx Corp0.54%
Schwab Charles Corp0.54%
Ecolab Inc0.54%
Bank of New York Mellon Corp0.53%
Bristol-Myers Squibb Co0.53%
Snowflake Inc0.52%
Atlassian Corp PLC Cls A0.52%
Bank of America Corporation0.51%
Maplebear Inc0.50%
Comfort Systems Usa Inc0.49%
Unity Software Inc0.46%
Cisco Systems Inc0.46%
Hubspot Inc0.45%
Keysight Technologies Inc0.45%
Palo Alto Networks Inc0.40%
Incyte Corp0.38%
Chime Financial Inc0.37%
Ciena Corp0.37%
Lyft Inc0.35%
Veralto Corp0.33%
Eaton Corp PLC0.33%
Docusign Inc0.33%
Travere Therapeutics Inc0.31%
Arista Networks Inc0.30%
Zoom Communications Inc Class A0.27%
Vertiv Holdings Co0.27%
Home Depot Inc0.24%
Draftkings Holdings Inc0.22%
Ross Stores Inc0.22%

Only in PCLG

9 securities, 19.9% of PCLG by weight

Shopify Inc Npv4.50%
Idexx Labs Inc USD 0.13.28%
Costar Group Inc USD 0.012.76%
Starbucks Com USD0.0012.13%
Taiwan Semiconductor M Twd 10.0 Adr1.80%
Adyen N V Eur 0.01 Adr1.54%
Ati Inc USD 0.11.48%
Emcor Group Inc USD 0.011.37%
Asml Holding NV Eur 0.09 Adr1.07%

Weight gaps

All 19 Holdings in both funds, largest gap first.

Holding weights in FELG and PCLG, widest gap first
Holding	More in FELGMore in PCLG	FELG	PCLG
NVIDIA CorpNVDA	FELG +8.14 points	15.38%	7.24%
Amazon.com IncAMZN	PCLG +5.51 points	0.59%	6.10%
Visa Inc Class AV	PCLG +5.19 points	1.60%	6.79%
Servicenow IncNOW	PCLG +4.91 points	<0.01%	4.92%
Mastercard Inc Class AMA	PCLG +4.78 points	1.93%	6.71%
Microsoft CorpMSFT	PCLG +4.09 points	5.48%	9.57%
Oracle CorpORCL	PCLG +3.93 points	0.19%	4.12%
Alphabet Inc Class CGOOG	PCLG +2.34 points	2.65%	4.99%
Intuitive Surgical IncISRG	PCLG +2.06 points	0.00%	2.06%
Airbnb Inc Class AABNB	PCLG +2.02 points	0.76%	2.78%
Eli Lilly & CoLLY	PCLG +1.96 points	4.15%	6.11%
Lam Research CorpLRCX	PCLG +1.31 points	0.61%	1.92%
Broadcom IncAVGO	PCLG +1.27 points	4.52%	5.79%
Seagate Techn Holdings PLCSTX	PCLG +1.02 points	0.36%	1.38%
Quanta Svcs IncPWR	PCLG +0.99 points	0.30%	1.29%
Ge AerospaceGE	PCLG +0.52 points	1.43%	1.95%
Meta Platforms Inc Class AMETA	PCLG +0.42 points	3.48%	3.90%
Ge Vernova IncGEV	PCLG +0.38 points	1.20%	1.58%
Howmet Aerospace IncHWM	PCLG +0.34 points	0.54%	0.88%

All 109 FELG holdings⁠All PCLG 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 PCLG Cost

Overpaying PCLG vs FELG

$6,043

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

FELG 0.18%
$3,749
PCLG 0.49%
$9,792

Amount$10,000

Years30 years

Cost over time

FELG 0.18%
PCLG 0.49%
Overpaying

Year by year

Year	FELG	PCLG	Overpaying
10	$328	$883	$555
20	$1,281	$3,394	$2,113
30	$3,749	$9,792	$6,043

Expense ratio

0.18%FELG, cheaper
0.49%PCLG

FELG0.18%PCLG0.49%

0.18%2.83%

Middle half of US Active Growth funds
Median 0.55%

FELG cheapest of 90 funds

PCLG 30th cheapest of 90 funds

FELG vs PCLG Dividends

Last 12 months to Nov 2, 2026

Yield (12M): FELG 0.37%; PCLG No data
Payout (12M): FELG $0.16; PCLG No data
Last payment: FELG $0.04; PCLG $0.0086
Ex-dividend: FELG Sep 18, 2026; PCLG Dec 3, 2025
Paid on: FELG Sep 22, 2026; PCLG Dec 4, 2025
Frequency: FELG Quarterly; PCLG Irregular

Distribution history

Per share, 2023 to 2026, same scale for both

FELGQuarterly · 14 paymentsAll FELG payments⁠

PCLGIrregular · 1 paymentAll PCLG payments⁠

FELG vs PCLG 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 2023PCLG 17.8%since Oct 2025
Return per unit of riskSharpe ratio, 3 years: FELG 0.93since Dec 2023PCLG −0.81since Oct 2025
Worst fallMax drawdown, 5 years: FELG −23.9%since Nov 2023PCLG −23.8%since Sep 2025
Market sensitivityBeta, 5 years: FELG 1.23PCLG 1.14; Market = 1

FELG and PCLG in the news

All news⁠

First-Year Review
Polen Focus Growth ETF lags the Russell 1000 Growth in its first year
Sep 30, 2026PCLG
ETF Filings
BlackRock files to convert Advantage Large Cap Growth into a 0.22% ETF
Sep 29, 2026FELG

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FELG vs PCLG

In short

Stated mandate

Why people hold it

Worth knowing

How FELG and PCLG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FELG

Only in PCLG

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Polen Focus Growth ETF lags the Russell 1000 Growth in its first year

BlackRock files to convert Advantage Large Cap Growth into a 0.22% ETF

How FELG and PCLG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FELG

Only in PCLG

Weight gaps