Fidelity Large Cap Value Enhanced Index Fund
FLVEX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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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
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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
- Apr 20, 2007
- CIK
- 0001364923
- Similar Companies
- Business
- Fidelity Large Cap Value Enhanced Index Fund (FLVEX) is a diversified domestic equity mutual fund managed by Fidelity Investments that employs a quantitative investment process with a large-cap value orientation to seek capital appreciation by outperforming the Russell 1000 Value Index. The fund normally invests at least 80% of its assets in common stocks included in the benchmark, which measures the performance of the large-cap value segment of the U.S. equity market, while the remainder may be allocated to out-of-benchmark securities; its systematic approach builds multifactor statistical models evaluating valuation, earnings growth, technical indicators, quality, momentum, and information flow to favor companies with improving fundamentals at reasonable valuations, complemented by top-down industry allocation and risk controls to align portfolio characteristics with the benchmark. Top holdings typically include Berkshire Hathaway Class B, JPMorgan Chase, Exxon Mobil, Johnson & Johnson, and Chevron, spanning financials, energy, health care, and information technology sectors, with approximately 350-360 positions and assets under management exceeding $5.6 billion. FLVEX, part of Fidelity's enhanced index suite launched in 2007, is headquartered in Boston, Massachusetts, and primarily targets institutional and retail investors seeking large value exposure in the U.S. equity market. In June 2023, the Board of Trustees approved the conversion of Fidelity's Enhanced Index Funds, including FLVEX, into exchange-traded funds to benefit shareholders through lower expenses, trading flexibility, portfolio transparency, and tax efficiency; the fund converted to the Fidelity Enhanced Large Cap Value ETF (FELV) in November 2023, maintaining identical objectives, policies, and strategies while halving expense ratios to around 0.19% from 0.39%. No significant changes to the investment approach, positioning, or quantitative models occurred through August 2023, with managers reaffirming commitment to long-term outperformance while matching benchmark risk.