FELV vs MGV: Differences, Returns & Fees
FELV and MGV hold 44% of their weight in the same names, and FELV returned +28.5% over the year. Net assets on Sep 30, 2026: $3.4bn for Fidelity Enhanced Large Cap Value ETF and $13.5bn for Vanguard Morningstar Mega Cap Value ETF.
MGV costs 0.13 points a year less; their one-year returns differ by 7.0 points; MGV is 4.0 times larger.
| FELV | MGV | |
|---|---|---|
| Expense ratio | 0.18% | 0.05% |
| Net assets, as of Sep 30, 2026 | $3.4bn | $13.5bn |
| Total return, 1 year | +28.5% | +21.5% |
| What it tracks | No index, actively managed | CRSP U.S. Mega Cap Value Index |
| Holdings in common | 44% | |
| Top ten holdings, share of the fund | 26.2% | 28.5% |
Holdings in common uses holdings dated Jun 30, 2026 and Aug 31, 2026.
What they hold in common
By the books each fund has filed, FELV and MGV hold 44% 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 Jun 30, 2026 and Aug 31, 2026.
half
44% in common
On the same fields
FELV and MGV on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.
About FELV
FELV is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned +28.5% with distributions reinvested. The prospectus expense ratio is 0.18% a year. By its holdings filed for Jun 30, 2026, 88% of the fund by weight is stocks the S&P 500 also holds, across 351 positions, with the top ten at 26.2%.
About MGV
MGV tracks an index. Over the year to Oct 9, 2026 it returned +21.5% with distributions reinvested. The prospectus expense ratio is 0.05% a year. By its holdings published by its issuer as of Aug 31, 2026, 98% of the fund by weight is stocks the S&P 500 also holds, across 123 positions, with the top ten at 28.5%.
Questions people ask
- Which returned more over the last year, FELV or MGV?
- In the year to Oct 9, 2026, with distributions reinvested, FELV returned +28.5% and MGV +21.5%.
- Which is cheaper, FELV or MGV?
- MGV is cheaper, by 0.13 percentage points a year. That is about $13 on $10,000 held for a year. Fees come from each fund's prospectus.
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.
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ETFIQ, FELV against MGV, data as of Oct 9, 2026. https://etfiq.com/compare/any/felv-vs-mgv
ETFIQ. (Oct 9, 2026). FELV against MGV. Retrieved from https://etfiq.com/compare/any/felv-vs-mgv
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