Fidelity Enhanced Large Cap Growth ETF

FELG

Market cap $5.64B

Passive investing's central promise is hard to argue with: low costs, broad diversification, and returns that match the market.

Growth investors picking a large-cap vehicle in 2026 face a real choice: pay nothing for a passive index, or pay a few basis points for an active manager who claims to add value.

Most ETFs benchmarked to the Russell 1000 Growth Index just track it. Fidelity Enhanced Large Cap Growth ETF (NYSEARCA:FELG) tries to beat it, using a quantitative multifactor model to tilt toward companies with stronger fundamentals and more reasonable valuations than the raw index delivers.

Fidelity Enhanced Large Cap Growth ETF is rated a buy after a 13% correction, trading near multi-year low valuations. FELG's portfolio is heavily weighted toward tech and the Magnificent 7, positioning it to benefit from robust sector earnings growth and AI-driven upside. The fund's quantitative approach, 0.18% expense ratio, and $36 per share price make it accessible and attractive for retail investors.

Fidelity Enhanced Large Cap Growth ETF (NYSEARCA:FELG) has slipped about 8% since the start of 2026, tracking closely with its benchmark as large-cap growth stocks broadly retreat.

Most large cap growth ETFs hand you a market-cap-weighted slice of the same mega-cap names and call it a day.

FELG and VUG are both down significantly this year, but one of them uses a quantitative model that can shift away from the names dragging it lower.

The S&P 500 is down 4.29% over the past month, and the VIX has climbed to 27.29.

The Fidelity Enhanced Large Cap Growth ETF (FELG) is a fund worth owning for decades — not because it promises explosive returns, but because its factor-based approach to large-cap growth gives long-term investors a disciplined, rules-driven way to stay invested in America's most durable businesses.

Fidelity Enhanced Large Cap Growth ETF is managed actively, putting emphasis on promising names from the Russell 1000® Growth Index. FELG has delivered outstanding performance since the conversion into an ETF in 2023, beating IWF, SCHG, QQQ, and IVV. FELG's NVDA-heavy portfolio currently has a GARP tilt, which is confirmed by the PEG ratio and other metrics.