An arrow is hidden between the orange and blue parts of the FedEx logo.
The negative-space arrow appears between the final lowercase “e” and the “x” in the FedEx wordmark. It points to the right, subtly suggesting speed, direction, delivery, and forward movement without adding a separate illustrated icon.
The logo was designed by Lindon Leader and introduced in 1994 during the consolidation of Federal Express into the FedEx brand. Leader used the shapes of the letters themselves to create the concealed symbol, making the mark work both as readable text and as a visual puzzle.
People sometimes identify the shape as a chevron or a lightning bolt, but the intended and widely cited interpretation is an arrow. FedEx has also used different color combinations for its business divisions, while retaining the same basic wordmark and negative-space idea.