FFLC
Fidelity Fundamental Large Cap Core ETF
FFLC is an actively managed core portfolio of large-cap stocks from US and foreign issuers. Stocks are selected based on fundamental factors.
US
EQUITY
Active
MANAGEMENT STYLE
882.1 M
ASSETS UNDER MGMT
38 bp
EXPENSES
Fund Basics
| Fund sponsor | Fidelity |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 03, 2020 |
| Assets (mns) | $882 |
| Expense ratio | 38 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Fundamental |
| Weighting | |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| NVIDIA CORP | 8.6 % |
| MICROSOFT CORP | 6.4 % |
| META PLATFORMS INC | 6.4 % |
| ALPHABET INC. CLASS A | 6.3 % |
| APPLE INC | 4.3 % |
| AMAZON.COM INC | 4.2 % |
| BROADCOM INC. | 3.8 % |
| EXXON MOBIL CORP | 2.7 % |
| BANK OF AMERICA CORP | 2.7 % |
| WELLS FARGO & CO | 2.6 % |
Constituent Breakdown
| Number of holdings | 115 |
| Herfindahl-Hirschman Index | 335 |
| Wgt avg mkt cap (mns) | $1,340,889 |
| Large cap (>$10bn) | 94.5% |
| Mid cap ($2-10bn) | 2.6% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 94.2% |
| Emerging mkts. | 1.8% |
Country Exposure
 |
UNITED STATES | 103.2 % |
 |
CANADA | 2.0 % |
 |
IRELAND | 1.8 % |
 |
TAIWAN | 1.4 % |
 |
GERMANY | 1.4 % |
 |
SWITZERLAND | 0.6 % |
 |
BRITAIN | 0.5 % |
Historical Performance
Standardized Performance (as of 09/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 13.4% | 14.0% | 26.6% | 26.0% | 20.7% | -- | -- | 19.1% |
| Dividend Yield | 0.6% | 0.9% | 1.0% | 1.1% | 1.5% | -- | -- | 1.4% |
| Total Returns | 14.0% | 14.8% | 27.6% | 27.1% | 22.1% | -- | -- | 20.5% | Ann. Volatility | 20.9% | 19.1% | 16.6% | 16.5% | 17.7% | -- | -- | 18.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.04 | 92% |
| MSCI EAFE | 0.61 | 38% |
| MSCI Emg Mkts | 0.31 | 11% |
Liquidity Measures
| Avg. volume (000) | 81 |
| ADV traded (mns) | $4 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.08% |
Technical Indicators
| Recent close | $51.81 |
| 30d moving avg. | $51.72 |
| Annualized volatility | 15.0% |
| Relative strength (RSI) | 50 |
| Short interest | 0.1% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| USMC | Principal U.S. Mega-Cap ETF | 54.5% | -26 bp | +4.3% |
| DYNF | BlackRock U.S. Equity Factor Rotation ETF | 52.6% | -8 bp | +4.4% |
| GSUS | Goldman Sachs MarketBeta U.S. Equity ETF | 52.4% | -31 bp | +4.8% |
| JUST | Goldman Sachs JUST U.S. Large Cap Equity ETF | 52.3% | -18 bp | +5.0% |
| FSST | Fidelity Sustainable U.S. Equity ETF | 52.2% | +21 bp | +4.2% |
| BKLC | BNY Mellon US Large Cap Core Equity ETF | 51.9% | -38 bp | +4.9% |
| VSLU | Applied Finance Valuation Large Cap ETF | 51.8% | +11 bp | +5.6% |
| MGC | Vanguard Mega Cap ETF | 51.8% | -31 bp | +4.6% |
| QRFT | Qraft Ai-Enhanced U.S. Large Cap ETF | 51.7% | +37 bp | +4.0% |
| VOTE | TCW Transform 500 ETF | 51.5% | -33 bp | +4.8% |
Risk and Returns: FFLC vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 10/14/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
FFLC
4.5%
Cat. Avg
5.7%
ALTAR Score™ Calculation
Category Overview
There are 994 funds in the US Equity category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.4%. FFLC's ALTAR Score™ is approximately
0.5 standard deviations
below
the category average. This places FFLC in the 31st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FFLCSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 402 |
| Avg. Expense Ratio | 63.7 bp |
| Std. Deviation | 35.5 bp |
| FFLC (38 bp) Percentile rank | 24 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FFLC | 38.0 | 8.2 | 46.2 |
| Peer Avg. | 63.7 | 20.8 | 84.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .