FELG vs TGRW: Grades, Fees and Holdings Compared

Fidelity Enhanced Large Cap Growth ETF

FELGANYSE Arca

T. Rowe Price Growth Stock ETF

TGRWCNYSE Arca

Overlap

68.7%by weight

Expense ratio

FELG −0.34pt a year

FELG0.18%TGRW0.52%

Avg volume · 30D

FELG 7.4×the volume

FELG379KTGRW51.3K

FELG vs TGRW Performance

Oct 31, 2025 – Oct 30, 2026

−0.5%FELG−4.6%TGRW

Expense ratio: FELG 0.18%, better; TGRW 0.52%
Fund size: FELG $5.78B; TGRW $1.1B
1Y total return: FELG −0.5%, better; TGRW −4.6%
Yield (12M): FELG 0.37%, better; TGRW 0.00%
Holdings: FELG 133; TGRW 70
Avg volume (30D): FELG 379K sh, better; TGRW 51.3K sh
NAV per share: FELG $42.20; TGRW $45.05
52W range

ETF.net Grade

Pillar letters and Scores for FELG, TGRW, with each pillar’s weight
Pillar	FELG	TGRW
Cost30% weight	A99Higher	B55
Mission25% weight	A82	Not scored
Risk15% weight	C51Higher	D39
Tradability15% weight	A85Higher	B66
Holdings10% weight	C52Higher	D37
Durability5% weight	A95Higher	A86

Rank among US Active Growth funds

How we build Categories ›

Same Category. FELG and TGRW 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 TGRW 38th 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 38CTCHPT. Rowe Price Blue Chip Growth ETFScore 53
Rank 38CTGRWT. Rowe Price Growth Stock ETFScore 53
Rank 41CBRIFFIS Bright Portfolios Focused Equity ETFScore 52

Our read on each fund

ETF.net Research

FELGAFidelity Enhanced Large Cap Growth ETF

TGRWCT. Rowe Price Growth Stock 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.

TGRW T. Rowe Price's first swing at active ETFs, and it doesn't show its cards. TGRW runs a concentrated growth portfolio while publishing a proxy basket instead of a daily holdings list.

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.

TGRW The fund seeks long-term capital growth, with income as a secondary objective.

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.

TGRW Semi-transparent by design: instead of daily holdings, it publishes a proxy portfolio built to track the real book closely, keeping the manager's picks out of public view.troweprice.com
A concentrated lineup of roughly 70 stocks picked for earnings and cash flow growth, not an index tracker with a fee stapled on.troweprice.com
At 0.52%, it comes in under the typical fund in its conviction-growth peer group, and it sits in the upper half of that group overall.
Live since 2020, run by a firm whose reputation was built on hands-on growth stock research rather than index licensing.troweprice.com

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.

TGRW Thinly traded next to index heavyweights. T. Rowe itself notes that traders given less holdings information tend to charge more, so the buy/sell gap can widen.troweprice.com
Cheaper large-cap growth rivals exist: FELG charges 0.18% and JUSA 0.12%, though both lean on enhanced-index machinery rather than a concentrated stock-picker's book.
Growth comes first here. Income is only a secondary objective, and the fund's distribution schedule is annual.

Full FELG profile⁠

Full TGRW profile⁠

FELG vs TGRW Holdings

How FELG and TGRW differ

Overlap by weight

68.7%

Shared holdings make up 88.5% of TGRW and 74.1% of FELG.

Level by level

Holdings40 in both68.7%
Sector11 Sectors95.4%
Countryby domicile96.3%
Asset classEquity100%

Sector

Sector weights in FELG and TGRW, widest gap first
Sector	More in FELGMore in TGRW	FELG	TGRW
Communication	TGRW +2.9 points	14.6%	17.5%
Technology	FELG +2.5 points	58.7%	56.2%
Consumer Discretionary	TGRW +1.0 points	6.4%	7.4%
Industrials	FELG +1.0 points	7.9%	6.9%
Real Estate	TGRW +0.5 points	0.1%	0.6%
Financials	FELG +0.5 points	5.5%	5.0%
Health Care	FELG +0.4 points	6.1%	5.7%
Energy	FELG +0.2 points	0.2%	0.0%
Utilities	Same weight	0.0%	0.0%
Consumer Staples	Same weight	0.1%	0.1%
Materials	Same weight	0.5%	0.5%

Country, concentration and asset class

Country by domicile

Country weights in FELG and TGRW, widest gap first
Country	More in FELGMore in TGRW	FELG	TGRW
United States	FELG +3.6 points	100.0%	96.3%
Taiwan	TGRW +1.2 points	0.0%	1.2%
Netherlands	TGRW +0.9 points	0.0%	0.8%
Canada	TGRW +0.7 points	0.0%	0.7%
Other countries (3)	TGRW +1.0 points	0.0%	0.9%

Concentration

Weight in the 10 largest Holdings

FELG57.6%
TGRW63.4%

Securities held

FELG131
TGRW70

Asset class

FELG: Equity
TGRW: Equity

Holdings

Only in FELG91
In both40
Only in TGRW30

Only in FELG

91 securities, 25.2% of FELG by weight

Alphabet Inc Class C2.61%
Texas Instruments Inc1.42%
Western Digital Corp0.93%
Sandisk Corporation0.84%
Trane Technologies PLC0.80%
Kla Corp0.78%
Adobe Inc0.76%
Airbnb Inc Class A0.75%
Fortinet Inc0.67%
Expedia Inc0.63%
Gilead Sciences Inc0.56%
Uber Technologies Inc0.55%
Atlassian Corp PLC Cls A0.54%
Bank of New York Mellon Corp0.53%
Rtx Corp0.52%
Ecolab Inc0.52%
Comfort Systems Usa Inc0.51%
Bristol-Myers Squibb Co0.51%
Bank of America Corporation0.51%
Maplebear Inc0.49%
Keysight Technologies Inc0.47%
Unity Software Inc0.47%
Cisco Systems Inc0.46%
Hubspot Inc0.45%
Palo Alto Networks Inc0.40%
Seagate Techn Holdings PLC0.38%
Chime Financial Inc0.37%
Incyte Corp0.35%
Eaton Corp PLC0.34%
Lyft Inc0.34%
Docusign Inc0.32%
Veralto Corp0.30%
Quanta Svcs Inc0.30%
Travere Therapeutics Inc0.30%
Zoom Communications Inc Class A0.27%
Home Depot Inc0.23%
Netapp Inc0.23%
Ross Stores Inc0.22%
Draftkings Holdings Inc0.22%
Datadog Inc Class A0.21%
S&P Global Inc0.20%
Technipfmc PLC0.19%
Oscar Health Inc - Class A0.17%
Merck & Co Inc New0.16%
Johnson Controls Internatl PLC0.16%
Kulicke & Soffa Industries Inc0.16%
Griffon Corp0.14%
Marvell Technology Inc0.13%
Cirrus Logic Inc0.13%
Progressive Corp Ohio0.12%

Only in TGRW

30 securities, 11.5% of TGRW by weight

Taiwan Semiconductor Manufacturing1.21%
ASML Holding0.88%
Carvana0.73%
Shopify0.70%
Spotify Technology0.69%
Welltower0.65%
Hilton Worldwide Holdings0.59%
DoorDash0.50%
Argenx0.42%
Linde0.41%
Boeing0.41%
Teledyne Technologies0.40%
Live Nation Entertainment0.35%
Chubb0.34%
MercadoLibre0.34%
Sea0.30%
Stryker0.29%
Ferrari0.27%
Samsara0.25%
Thermo Fisher Scientific0.25%
Old Dominion Freight Line0.24%
Wabtec0.23%
Fabrinet0.22%
Danaher0.19%
Chipotle Mexican Grill0.18%
Kymera therapeutics0.16%
Cerebras Systems0.15%
Sherwin-Williams0.10%
Marsh & McLennan0.03%
T-Mobile US0.02%

Weight gaps

All 40 Holdings in both funds, largest gap first.

Holding weights in FELG and TGRW, widest gap first
Holding	More in FELGMore in TGRW	FELG	TGRW
Alphabet Inc Class AGOOGL	TGRW +4.71 points	6.48%	11.19%
Advanced Micro Devices IncAMD	TGRW +2.03 points	2.28%	4.30%
Apple IncAAPL	FELG +1.94 points	8.80%	6.86%
NVIDIA CorpNVDA	TGRW +1.21 points	15.60%	16.81%
Lam Research CorpLRCX	TGRW +1.02 points	0.63%	1.65%
Amazon.com IncAMZN	TGRW +0.92 points	0.58%	1.50%
Servicenow IncNOW	TGRW +0.85 points	<0.01%	0.86%
Intuitive Surgical IncISRG	TGRW +0.81 points	0.00%	0.81%
Snowflake IncSNOW	TGRW +0.79 points	0.55%	1.34%
Broadcom IncAVGO	TGRW +0.75 points	4.65%	5.40%
Visa Inc Class AV	TGRW +0.74 points	1.54%	2.28%
Meta Platforms Inc Class AMETA	TGRW +0.73 points	3.43%	4.16%
Eli Lilly & CoLLY	FELG +0.70 points	3.90%	3.21%
Tesla IncTSLA	FELG +0.65 points	3.02%	2.37%
Cintas CorpCTAS	TGRW +0.59 points	0.00%	0.59%
Ge Vernova IncGEV	FELG +0.58 points	1.20%	0.62%
Intel CorpINTC	TGRW +0.55 points	0.07%	0.62%
The Booking Holdings IncBKNG	TGRW +0.52 points	0.08%	0.60%
Space Exploration Tech Corp ASPCX	TGRW +0.51 points	0.19%	0.70%
Schwab Charles CorpSCHW	FELG +0.43 points	0.53%	0.10%
Vertiv Holdings CoVRT	TGRW +0.38 points	0.27%	0.65%
Microsoft CorpMSFT	TGRW +0.36 points	5.40%	5.76%
Micron Technology IncMU	FELG +0.34 points	3.69%	3.35%
Heico CorpHEI	TGRW +0.34 points	<0.01%	0.34%
Crowdstrike Holdings IncCRWD	TGRW +0.33 points	0.98%	1.31%
Palantir Technologies IncPLTR	FELG +0.30 points	1.02%	0.72%
Morgan StanleyMS	TGRW +0.25 points	0.16%	0.41%
Netflix IncNFLX	TGRW +0.25 points	0.88%	1.13%
Applied Materials IncAMAT	TGRW +0.24 points	1.22%	1.46%
Howmet Aerospace IncHWM	TGRW +0.22 points	0.55%	0.77%
UnitedHealth Group IncUNH	TGRW +0.21 points	0.03%	0.24%
Oracle CorpORCL	TGRW +0.21 points	0.20%	0.41%
Caterpillar IncCAT	FELG +0.21 points	0.94%	0.73%
Ge AerospaceGE	TGRW +0.19 points	1.44%	1.63%
Ciena CorpCIEN	FELG +0.13 points	0.39%	0.26%
Amphenol Corporation Class AAPH	TGRW +0.12 points	0.90%	1.02%
Natera IncNTRA	FELG +0.07 points	0.17%	0.10%
Costco Wholesale CorpCOST	FELG +0.03 points	0.12%	0.09%
Mastercard Inc Class AMA	FELG +0.03 points	1.87%	1.84%
Arista Networks IncANET	FELG +0.01 points	0.31%	0.30%

All 109 FELG holdings⁠All 73 TGRW 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 TGRW Cost

Overpaying TGRW vs FELG

$6,602

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

FELG 0.18%
$3,749
TGRW 0.52%
$10,351

Amount$10,000

Years30 years

Cost over time

FELG 0.18%
TGRW 0.52%
Overpaying

Year by year

Year	FELG	TGRW	Overpaying
10	$328	$935	$607
20	$1,281	$3,593	$2,312
30	$3,749	$10,351	$6,602

Expense ratio

0.18%FELG, cheaper
0.52%TGRW

FELG0.18%TGRW0.52%

0.18%2.83%

Middle half of US Active Growth funds
Median 0.55%

FELG cheapest of 90 funds

TGRW 41st cheapest of 90 funds

FELG vs TGRW Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FELG 0.37%, better; TGRW 0.00%
Payout (12M): FELG $0.16; TGRW None
Last payment: FELG $0.04; TGRW No data
Ex-dividend: FELG Sep 18, 2026; TGRW No data
Paid on: FELG Sep 22, 2026; TGRW No data
Frequency: FELG Quarterly; TGRW No data

Distribution history

Per share, 2020 to 2026, same scale for both

FELGQuarterly · 14 paymentsAll FELG payments⁠

TGRW3 paymentsAll TGRW payments⁠

FELG vs TGRW 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 2023TGRW 17.5%
Return per unit of riskSharpe ratio, 3 years: FELG 0.93since Dec 2023TGRW 0.83
Worst fallMax drawdown, 5 years: FELG −23.9%since Nov 2023TGRW −43.3%
Market sensitivityBeta, 5 years: FELG 1.23TGRW 1.22; Market = 1

FELG and TGRW in the news

All news⁠

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

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