FFLV vs SPY
FFLV vs SPY
Fidelity Fundamental Large Cap Value ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. FFLV delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | FFLV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.38% | 0.09% | |
| AUM | $16M | $789.1B | |
| Dividend Yield | 1.41% | 1.01% | |
| Holdings | 119 | 505 | |
| YTD Return | +16.27% | +9.93% | |
| 1Y Return | +30.05% | +19.50% | |
| 3Y Return (annualized) | - | +19.33% | |
| 5Y Return (annualized) | - | +12.82% | |
| Volatility (annualized) | 12.5% | 15.3% | |
| Max Drawdown | -16.7% | -56.5% | |
| Fund Family | Fidelity Investments (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Feb 9, 2024 | Jan 22, 1993 |
FFLV vs SPY Performance
Fidelity Fundamental Large Cap Value ETF (FFLV) 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 FFLV returned +30.05% while SPY returned +19.50%. Year to date, FFLV is up 16.27% versus a gain of 9.93% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.5% for FFLV. 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 -16.7% for FFLV 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 0.65. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FFLV 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, FFLV currently yields 1.41% against 1.01% for SPY.
Holdings Overlap
FFLV and SPY share 67 holdings out of 541 unique holdings combined, representing a 25.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in FFLV | Weight in SPY | Difference |
|---|---|---|---|
| AMZN | 6.86% | 3.69% | 3.17% |
| AAPL | 2.82% | 7.09% | 4.27% |
| MSFT | 4.94% | 4.43% | 0.51% |
| XOM | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| CSCO | Pro | Pro | Pro |
| WFC | Pro | Pro | Pro |
| JNJ | Pro | Pro | Pro |
| BAC | Pro | Pro | Pro |
| MRK | Pro | Pro | Pro |
See all 10 holdings FFLV 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, FFLV or SPY?
FFLV 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, FFLV or SPY?
Over the past year FFLV returned +30.05% vs +19.50% for SPY, so FFLV leads on 1-year performance. Over the longest common window we track (2 years), FFLV annualized +17.06% vs +8.74% for SPY. Past performance does not guarantee future results.
Which is riskier, FFLV or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 12.5% for FFLV. Worst drawdown: FFLV -16.7% vs SPY -56.5%.
Should I hold both FFLV and SPY?
FFLV and SPY have a monthly-return correlation of 0.65, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FFLV and SPY?
FFLV and SPY share 67 common holdings with a 25.6% weight overlap. Combined, they hold 541 unique securities.
Which pays a higher dividend, FFLV or SPY?
FFLV yields 1.41% while SPY yields 1.01%, so FFLV currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.