Fidelity Covington ETF (FELG) Performance
FELG total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +3.1% since Dec 31, 2025
- 1 year
- +4.2% total return
- Since first price
- +72.4% since 2023
FELG trailing returns vs SPY, QQQ, AGG
| Period | FELG total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −4.9% | −4.9% | −1.0% | −5.0% | +0.9% |
| 3 months | +0.9% | +0.8% | +3.2% | +1.9% | −0.4% |
| 6 months | +3.3% | +3.1% | +7.8% | +8.4% | −1.5% |
| YTD | +3.1% | +2.9% | +12.3% | +15.1% | −1.0% |
| 1 year | +4.2% | +3.8% | +14.4% | +15.9% | −1.1% |
| Since inceptionNov 20, 2023 | +72.4% | +70.2% | — | — | — |
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: FELG vs SPY
From Nov 20, 2023: FELG grew to $17,241, SPY to $17,347.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FELG returns by calendar year
2 of 2 full years positive. Best 2024 (+35.4%), worst 2025 (+18.4%). 2026 is year to date.
FELG annual returns table
| Year | FELG | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +3.1% | −14.1% | +12.3% | +15.1% | −1.0% |
| 2025 | +18.4% | −23.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +35.4% | −13.3% | +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.
FELG largest drawdowns
Now 7.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 16, 2024 | −23.9% | Apr 8, 2025 | Jun 27, 2025 | 4 months | 6 months |
| Oct 29, 2025 | −16.2% | Mar 30, 2026 | May 6, 2026 | 5 months | 6 months |
| Jul 10, 2024 | −13.3% | Aug 7, 2024 | Oct 14, 2024 | 28 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FELG risk statistics
| Statistic | Since 2023 |
|---|---|
| Annualized return | +23.3% |
| Volatility (annualized) | 15.8% |
| Sharpe ratio | 1.15 |
| Sortino ratio | 2.16 |
| Best month | +12.4% |
| Worst month | −8.7% |
| Best 12 months | +39.1% |
| Worst 12 months | +7.1% |
| Positive months | 65% |
| 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.
FELG rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 24 | +1.1% | +19.0% | +39.1% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
FELG performance overview
Fidelity Covington ETF (FELG) returned +4.2% over the past year, with distributions reinvested. Since its first recorded price on Nov 20, 2023 it has returned +72.4%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −23.9%, from Dec 16, 2024 to Apr 8, 2025, and it took 3 months to get back to the old high. Volatility has been 15.8% a year.
Related: FELG chart, FELG holdings, FELG dividends, FELG valuation. See the FELG overview for the latest quote and fund facts.
FELG performance FAQ
What is the FELG return over the past year?
FELG returned +4.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 3.8%.
How much would $10,000 invested in FELG be worth?
$10,000 invested in FELG at its first recorded close on November 20, 2023 would be worth about $17,241 on October 23, 2026 with distributions reinvested.
What was the worst year for FELG?
The worst calendar year was 2025, with a total return of +18.4%. The best was 2024 at +35.4%.
What is the biggest drawdown of FELG?
The largest peak-to-trough decline was −23.9% between December 16, 2024 and April 8, 2025. It recovered to the old high on June 27, 2025, 3 months after the bottom.
How volatile is FELG?
Over the past history FELG had an annualized volatility of 15.8% and a Sharpe ratio of 1.15 (excess return over 1–3 month T-bills per unit of risk).