Fidelity Enhanced Large Cap Growth ETF
FELG
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 245 Summer Street Boston MA United States of America 2210
- IPO Date
- Nov 20, 2023
- Website
- digital.fidelity.com
- Similar Companies
- Business
- Fidelity Enhanced Large Cap Growth ETF (FELG) is an actively managed exchange-traded fund that seeks capital appreciation by investing at least 80% of its assets in common stocks included in the Russell 1000 Growth Index, which measures the large-cap growth segment of the U.S. equity market; the fund employs a quantitative investment process utilizing multifactor statistical models analyzing historical valuation, growth, profitability, and other factors to select a broadly diversified portfolio of approximately 102 stocks aimed at outperforming the benchmark through balanced risk and return optimization. Top holdings include NVIDIA Corp. (approximately 13.5%), Microsoft Corp. (11.5%), Apple Inc. (11.3%), and Broadcom Inc. (4.8%), representing over 60% of assets, with a net expense ratio of 0.18% and total net assets exceeding $4.4 billion as of late 2025. FELG primarily targets institutional and retail investors seeking U.S. large-cap growth exposure in the equities asset class, focusing on developed U.S. markets without currency hedging or leverage. FELG, issued by Fidelity Covington Trust—a statutory trust founded in 1995 and headquartered at 245 Summer Street in Boston, Massachusetts—was launched on November 21, 2023. The fund operates exclusively within the United States, trading on the NYSE Arca exchange under the ticker FELG. Fidelity Covington Trust serves as the issuer for multiple Fidelity-branded ETFs, with Fidelity Management & Research Company LLC acting as the investment adviser. In a significant recent development, effective March 24, 2025, the Russell 1000 Growth Index adopted a new quarterly capping methodology, limiting any single constituent to no more than 22.5% of the index weight and ensuring that companies above 4.5% weight collectively do not exceed 45%, thereby reducing concentration risk amid dominance by high-growth technology stocks. This index change directly impacts FELG's benchmark and portfolio construction, enhancing diversification during its quarterly rebalancing. No major acquisitions, partnerships, funding rounds, or product launches specific to FELG have been reported in the last 1-2 years, though ongoing institutional interest is evident from new stakes by investors such as Advyzon Investment Management and Farther Finance Advisors in 2025.