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FDLO vs SPY: Differences, Returns & Fees

FDLO and SPY hold 48% of their weight in the same names, and SPY returned +17.3% over the year. Net assets: $1.4bn on Sep 30, 2026 for Fidelity Low Volatility Factor ETF, and $817.2bn on Oct 8, 2026 for SPDR S&P 500 ETF Trust.

SPY costs 0.06 points a year less; their one-year returns differ by 5.2 points; SPY is far larger, $809.2bn against $1.4bn.

FDLOSPY
Expense ratio0.15%0.09%
Net assets, as of Sep 30, 2026$1.4bn$809.2bn
Total return, 1 year+12.1%+17.3%
What it tracksnot read by ETFIQS&P 500 Index
Holdings in common48%
Top ten holdings, share of the fund38.5%39.1%

Holdings in common uses holdings dated Jul 31, 2026 and Oct 8, 2026.

+12.1%
FDLO total return, 1 year
+17.3%
SPY total return, 1 year
0.15%
FDLO expense ratio
0.09%
SPY expense ratio

What they hold in common

By the books each fund has filed, FDLO and SPY hold 48% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Jul 31, 2026 and Oct 8, 2026.

half

48% in common

Positions both hold, largest shared weight first
Holding FDLO SPY
APPLE INC 7.98% 7.42%
MICROSOFT CORP 6.33% 5.80%
AMAZON.COM INC 4.48% 3.73%
ALPHABET INC 6.20% 3.06%
BROADCOM INC 4.08% 2.56%
BERKSHIRE HATHAWAY INC DEL 1.81% 1.42%
ELI LILLY and CO 1.80% 1.40%
JPMORGAN CHASE and CO 1.87% 1.32%
EXXONMOBIL HOLDINGS CORP 1.13% 1.04%
VISA INC 1.37% 0.96%
JOHNSON and JOHNSON 1.39% 0.92%
WALMART INC 0.89% 0.74%
Only in FDLO
AMDOCS LIMITED 0.82%
FTI CONSULTING INC 0.35%
CHENIERE ENERGY INC 0.26%
CORTEVA INC 0.23%
APTARGROUP INC 0.17%
AVALONBAY COMMUNITIES INC 0.16%
OMEGA HEALTHCARE INVESTORS INC 0.16%
AGREE REALTY CORP 0.14%
Only in SPY
NVIDIA CORP 8.34%
ALPHABET INC CL C 2.45%
META PLATFORMS INC CLASS A 2.38%
MICRON TECHNOLOGY INC 1.75%
TESLA INC 1.58%
ADVANCED MICRO DEVICES 1.51%
INTEL CORP 0.80%
PALANTIR TECHNOLOGIES INC A 0.68%

Check overlap with more funds →

On the same fields

FDLO
Fidelity Low Volatility Factor ETF
SPY
SPDR S&P 500 ETF Trust
Where it sits Stock ETF Stock ETF
Issuer Fidelity State Street
What it is Tracks an index Tracks the S&P 500
Total return, 1 year +12.1% +17.3%
S&P 500 over the same days +17.3% +17.3%
Gap to the S&P 500 −5.1 pts 0.0 pts
Expense ratio 0.15% 0.09%
Already in the S&P 500 96.3% 99.8%
Holdings 123 504
Net assets, FDLO as of Sep 30, 2026 and SPY as of Oct 8, 2026 $1.4bn $817.2bn

FDLO and SPY on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

FDLO in plain words

FDLO tracks an index. Over the year to Oct 9, 2026 it returned +12.1% with distributions reinvested, against +17.3% for the S&P 500. The prospectus expense ratio is 0.15% a year. By its holdings filed for Jul 31, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 123 positions, with the top ten at 38.5%.

SPY in plain words

SPY tracks the S&P 500. Over the year to Oct 9, 2026 it returned +17.3% with distributions reinvested, against +17.3% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Oct 8, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 39.1%.

Questions people ask

Which returned more over the last year, FDLO or SPY?
In the year to Oct 9, 2026, with distributions reinvested, FDLO returned +12.1% and SPY +17.3%.
Which is cheaper, FDLO or SPY?
SPY is cheaper, by 0.06 percentage points a year. That is about $6 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do FDLO and SPY overlap with the S&P 500?
By their latest filed holdings, 96% of FDLO and 100% of SPY by weight is stocks the S&P 500 already holds.
Other comparisons
FDLO vs IVVFDLO vs VTIFDLO vs VOOFDLO vs SPYMLRGC vs SPYFQAL vs SPYFVAL vs SPYQQQE vs SPY
FDLO on its own →SPY on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
FDLO filings on SEC EDGAR ↗FDLO prospectus with the expense ratio (SEC) ↗Fidelity website ↗SPY filings on SEC EDGAR ↗State Street website ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, FDLO against SPY, data as of Oct 9, 2026. https://etfiq.com/compare/any/fdlo-vs-spy

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.