Fidelity Covington ETF (FELC) Performance
FELC total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +13.4% since Dec 31, 2025
- 1 year
- +15.9% total return
- Since first price
- +75.7% since 2023
FELC trailing returns vs SPY, QQQ, AGG
| Period | FELC total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −1.4% | −1.4% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.9% | +2.7% | +3.2% | +1.9% | −0.4% |
| 6 months | +9.3% | +8.9% | +7.8% | +8.4% | −1.5% |
| YTD | +13.4% | +12.6% | +12.3% | +15.1% | −1.0% |
| 1 year | +15.9% | +14.9% | +14.4% | +15.9% | −1.1% |
| Since inceptionNov 20, 2023 | +75.7% | +70.8% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FELC vs SPY
From Nov 20, 2023: FELC grew to $17,572, SPY to $17,347.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FELC returns by calendar year
2 of 2 full years positive. Best 2024 (+25.3%), worst 2025 (+17.1%). 2026 is year to date.
FELC annual returns table
| Year | FELC | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +13.4% | −9.1% | +12.3% | +15.1% | −1.0% |
| 2025 | +17.1% | −18.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +25.3% | −8.7% | +24.9% | +25.6% | +1.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FELC largest drawdowns
Now 2.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2025 | −18.6% | Apr 8, 2025 | Jun 26, 2025 | 48 days | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FELC risk statistics
| Statistic | Since 2023 |
|---|---|
| Annualized return | +22.1% |
| Volatility (annualized) | 11.8% |
| Sharpe ratio | 1.40 |
| Sortino ratio | 2.74 |
| Best month | +10.4% |
| Worst month | −5.6% |
| Best 12 months | +34.6% |
| Worst 12 months | +6.9% |
| Positive months | 71% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FELC rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 24 | +6.9% | +17.2% | +34.6% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
FELC performance overview
Fidelity Covington ETF (FELC) returned +15.9% over the past year, with distributions reinvested. Since its first recorded price on Nov 20, 2023 it has returned +75.7%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −18.6%, from Feb 19, 2025 to Apr 8, 2025, and it took 3 months to get back to the old high. Volatility has been 11.8% a year.
Related: FELC chart, FELC holdings, FELC dividends, FELC valuation. See the FELC overview for the latest quote and fund facts.
FELC performance FAQ
What is the FELC return over the past year?
FELC returned +15.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 14.9%.
How much would $10,000 invested in FELC be worth?
$10,000 invested in FELC at its first recorded close on November 20, 2023 would be worth about $17,572 on October 23, 2026 with distributions reinvested.
What was the worst year for FELC?
The worst calendar year was 2025, with a total return of +17.1%. The best was 2024 at +25.3%.
What is the biggest drawdown of FELC?
The largest peak-to-trough decline was −18.6% between February 19, 2025 and April 8, 2025. It recovered to the old high on June 26, 2025, 3 months after the bottom.
How volatile is FELC?
Over the past history FELC had an annualized volatility of 11.8% and a Sharpe ratio of 1.40 (excess return over 1–3 month T-bills per unit of risk).