FFLC vs SPY
FFLC vs SPY
Fidelity Fundamental Large Cap Core ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | FFLC | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.38% | 0.09% | |
| AUM | $1.2B | $789.1B | |
| Dividend Yield | 0.99% | 1.01% | |
| Holdings | 111 | 505 | |
| YTD Return | +12.39% | +13.79% | |
| 1Y Return | +20.86% | +23.66% | |
| 3Y Return (annualized) | +21.85% | +21.40% | |
| 5Y Return (annualized) | +16.78% | +13.37% | |
| Volatility (annualized) | 16.0% | 15.3% | |
| Max Drawdown | -19.7% | -56.5% | |
| Fund Family | Fidelity Investments (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 2, 2020 | Jan 22, 1993 |
FFLC vs SPY Performance
Fidelity Fundamental Large Cap Core ETF (FFLC) is a ETF from Fidelity Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FFLC returned +20.86% while SPY returned +23.66%. Year to date, FFLC is up 12.39% versus a gain of 13.79% for SPY.
Over three years, FFLC compounded at +21.85% per year against +21.40% for SPY; over five years the annualized figures are +16.78% and +13.37% respectively. Across the full 6-year window we track, FFLC has the edge at +20.23% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FFLC has been the more volatile fund, with annualized monthly volatility of 16.0% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -19.7% for FFLC and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FFLC charges 0.38% per year while SPY charges 0.09%. On a $10,000 position that is $38 vs $9 annually, a gap of $29 per year that compounds over a long holding period. On income, FFLC currently yields 0.99% against 1.01% for SPY.
Holdings Overlap
FFLC and SPY share 72 holdings out of 536 unique holdings combined, representing a 40.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in FFLC | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 8.38% | 7.31% | 1.07% |
| GOOGL | 7.78% | 3.32% | 4.46% |
| AAPL | 3.49% | 7.09% | 3.60% |
| AMZN | Pro | Pro | Pro |
| MSFT | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| XOM | Pro | Pro | Pro |
| V | Pro | Pro | Pro |
| LLY | Pro | Pro | Pro |
See all 10 holdings FFLC shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, FFLC or SPY?
FFLC has an expense ratio of 0.38% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $29 per year of difference.
Which performed better, FFLC or SPY?
Over the past year FFLC returned +20.86% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), FFLC annualized +20.23% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, FFLC or SPY?
FFLC has been the more volatile fund at 16.0% annualized versus 15.3% for SPY. Worst drawdown: FFLC -19.7% vs SPY -56.5%.
Should I hold both FFLC and SPY?
FFLC and SPY have a monthly-return correlation of 0.91, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between FFLC and SPY?
FFLC and SPY share 72 common holdings with a 40.7% weight overlap. Combined, they hold 536 unique securities.
Which pays a higher dividend, FFLC or SPY?
FFLC yields 0.99% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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