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FELV vs RWL: Differences, Returns & Fees

FELV and RWL hold 45% of their weight in the same names, and FELV returned +28.5% over the year. Net assets: $3.4bn on Sep 30, 2026 for Fidelity Enhanced Large Cap Value ETF, and $10.0bn on Oct 9, 2026 for Invesco S&P 500 Revenue ETF.

FELV costs 0.21 points a year less; their one-year returns differ by 7.4 points; RWL is 1.5 times larger.

FELV vs RWL: Differences, Returns & Fees
FELVRWL
Expense ratio0.18%0.39%
Net assets, as of Feb 29, 2024$1.9bn$2.8bn
Total return, 1 year+28.5%+21.1%
What it tracksNo index, actively managedS&P 500 Revenue-Weighted Index
Holdings in common45%
Holdings datedJun 30, 2026Oct 10, 2026
Top ten holdings, share of the fund26.2%24.0%

Holdings in common uses holdings dated Jun 30, 2026 and Oct 9, 2026.

+28.5%
FELV total return, 1 year
+21.1%
RWL total return, 1 year
0.18%
FELV expense ratio
0.39%
RWL expense ratio

What they hold in common

By the books each fund has filed, FELV and RWL hold 45% 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 Oct 9, 2026.

half

45% in common

Positions both hold, largest shared weight first
Holding FELV RWL
AMAZON.COM INC 5.15% 4.05%
APPLE INC 4.66% 2.50%
BERKSHIRE HATHAWAY INC DEL 3.08% 1.97%
MICROSOFT CORP 3.39% 1.81%
JPMORGAN CHASE and CO 2.62% 1.41%
UNITEDHEALTH GROUP INC 1.18% 2.18%
WALMART INC 1.01% 3.89%
CHEVRON CORP NEW 0.98% 1.05%
BANK OF AMERICA CORPORATION 0.86% 0.85%
GENERAL MOTORS CO 0.66% 0.92%
WELLS FARGO and CO 0.97% 0.60%
GOLDMAN SACHS GROUP INC (THE) 0.77% 0.59%
Only in FELV
EXXON MOBIL CORP 1.80%
EXTREME NETWORKS INC 0.44%
COMMERCIAL METALS CO 0.37%
CRANE CO 0.35%
ELECTRONIC ARTS INC 0.34%
CIRRUS LOGIC INC. 0.26%
OUTFRONT MEDIA INC 0.24%
10X GENOMICS INC 0.23%
Only in RWL
McKesson Corp 2.17%
ExxonMobil Holdings Corp 1.88%
Cencora Inc 1.67%
NVIDIA Corp 1.56%
Cardinal Health Inc 1.27%
Dell Technologies Inc 0.83%
Kroger Co/The 0.81%
Tesla Inc 0.54%

Check overlap with more funds →

On the same fields

FELV
Fidelity Enhanced Large Cap Value ETF
RWL
Invesco S&P 500 Revenue ETF
Where it sits Stock ETF Stock ETF
Issuer Fidelity Invesco
What it is Actively managed Tracks an index
Total return, 1 year +28.5% +21.1%
Expense ratio 0.18% 0.39%
Already in the S&P 500 87.5% 99.4%
Holdings 351 505
Net assets, FELV as of Sep 30, 2026 and RWL as of Oct 9, 2026 $3.4bn $10.0bn

FELV and RWL 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 RWL

RWL tracks an index. Over the year to Oct 9, 2026 it returned +21.1% with distributions reinvested. The prospectus expense ratio is 0.39% a year. By its holdings published by its issuer for Oct 10, 2026, 99% of the fund by weight is stocks the S&P 500 also holds, across 505 positions, with the top ten at 24.0%.

Questions people ask

Which returned more over the last year, FELV or RWL?
In the year to Oct 9, 2026, with distributions reinvested, FELV returned +28.5% and RWL +21.1%.
Which is cheaper, FELV or RWL?
FELV is cheaper, by 0.21 percentage points a year. That is about $21 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do FELV and RWL overlap with the S&P 500?
By their latest filed holdings, 88% of FELV and 99% of RWL by weight is stocks the S&P 500 already holds.
Other comparisons
AVLV vs FELVFELV vs FNDXFELV vs IUSVFELV vs SPYVIWX vs RWLRWL vs SPHDNULV vs RWLPWV vs RWL
FELV on its own →RWL on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
FELV filings on SEC EDGAR ↗FELV prospectus with the expense ratio (SEC) ↗Fidelity website ↗RWL filings on SEC EDGAR ↗RWL prospectus with the expense ratio (SEC) ↗Invesco page for RWL ↗

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, FELV against RWL, data as of Oct 9, 2026. https://etfiq.com/compare/any/felv-vs-rwl

Open data

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