FELG vs TLG

FELGAFidelity Enhanced Large Cap Growth ETF

TLGCTouchstone Large Company 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.

TLG A 25-to-35 stock growth portfolio run by DSM Capital Partners since 2009, now in an ETF shell. Conviction over coverage: the Russell 1000 Growth Index is the yardstick, not the blueprint.

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.

TLG The Fund seeks long-term capital appreciation. It invests at least 80% of its net assets in equity securities of large-capitalization issuers, using a bottom-up, idea-driven growth approach with a long-term investment horizon.

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.

• TLG Built to be concentrated: the portfolio generally holds 25 to 35 stocks, so the manager's best ideas carry real weight.westernsouthern.com
• Same adviser, same sub-adviser, same strategy as the predecessor mutual fund, with a track record running back to the 2009 inception.westernsouthern.com
• DSM Capital Partners, founded in 2001 and employee-owned, specializes in concentrated growth and picks bottom-up on fundamentals and profitability.westernsouthern.com
• Up to 20% can sit in foreign names, including ADRs and emerging markets, so a good idea listed abroad is not off the table.westernsouthern.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.

• TLG Fee is 0.67% net of a waiver through April 29, 2027 (0.82% gross), above the category median; same-benchmark peers like LGDS at 0.40% charge less.
• Non-diversified by charter: one position can grow into a large slice of the fund, which cuts both ways.westernsouthern.com
• Seasoned strategy, new ETF wrapper, and it trades thinly, so spreads can be wider than at the category's heavyweights.

Full FELG profile⁠

Full TLG profile⁠