DXW.TO vs. FCIM.NEO

Last updated Jul 16, 2026

DXW.TO (Dynamic Active International Dividend ETF) and FCIM.NEO (Fidelity International Momentum Index ETF) are both exchange-traded funds - DXW.TO is a International Equity fund actively managed by Dynamic, while FCIM.NEO is a Momentum fund tracking the Fidelity Canada International Momentum Index. DXW.TO is actively managed, while FCIM.NEO is passively managed. Over the past 5 years, DXW.TO returned 4.87%/yr vs 17.67%/yr for FCIM.NEO. At a 0.34 correlation, their price movements are largely independent.

Performance

DXW.TO vs. FCIM.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Dynamic Active International Dividend ETF (DXW.TO) and Fidelity International Momentum Index ETF (FCIM.NEO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DXW.TO achieves a 10.24% return, which is significantly lower than FCIM.NEO's 20.84% return.

DXW.TO

• 1D: -0.32%
• 1M: 2.39%
• 6M: 6.33%
• YTD: 10.24%
• 1Y: 18.54%
• 3Y*: 12.00%
• 5Y*: 4.87%
• 10Y*: —

FCIM.NEO

• 1D: 0.10%
• 1M: -2.15%
• 6M: 11.27%
• YTD: 20.84%
• 1Y: 38.88%
• 3Y*: 29.47%
• 5Y*: 17.67%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DXW.TO vs. FCIM.NEO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DXW.TO Dynamic Active International Dividend ETF	10.24%	20.35%	0.97%	15.88%	-18.80%	9.57%	19.09%
FCIM.NEO Fidelity International Momentum Index ETF	20.84%	37.03%	25.38%	16.54%	-12.40%	10.86%	18.15%

Correlation

The correlation between DXW.TO and FCIM.NEO is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (All Time) Calculated using the full available price history since Jun 11, 2020	0.34

The correlation between DXW.TO and FCIM.NEO shifts across timeframes, from 0.21 (1 year) to 0.36 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

DXW.TO vs. FCIM.NEO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DXW.TO

DXW.TO Risk / Return Rank: 43
DXW.TO Sharpe Ratio Rank: 43
DXW.TO Sortino Ratio Rank: 41
DXW.TO Omega Ratio Rank: 46
DXW.TO Calmar Ratio Rank: 42
DXW.TO Martin Ratio Rank: 45

FCIM.NEO

FCIM.NEO Risk / Return Rank: 78
FCIM.NEO Sharpe Ratio Rank: 79
FCIM.NEO Sortino Ratio Rank: 83
FCIM.NEO Omega Ratio Rank: 82
FCIM.NEO Calmar Ratio Rank: 73
FCIM.NEO Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DXW.TO vs. FCIM.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dynamic Active International Dividend ETF (DXW.TO) and Fidelity International Momentum Index ETF (FCIM.NEO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DXW.TO	FCIM.NEO	Difference
Sharpe ratio: Return per unit of total volatility	1.30	2.00	-0.70
Sortino ratio: Return per unit of downside risk	1.81	2.96	-1.16
Omega ratio: Gain probability vs. loss probability	1.25	1.39	-0.14
Calmar ratio: Return relative to maximum drawdown	1.82	2.96	-1.14
Martin ratio: Return relative to average drawdown	6.16	11.29	-5.13

DXW.TO vs. FCIM.NEO - Sharpe Ratio Comparison

The current DXW.TO Sharpe Ratio is 1.30, which is lower than the FCIM.NEO Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of DXW.TO and FCIM.NEO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DXW.TO vs. FCIM.NEO - Drawdown Comparison

The maximum DXW.TO drawdown since its inception was -30.99%, which is greater than FCIM.NEO's maximum drawdown of -26.89%. Use the drawdown chart below to compare losses from any high point for DXW.TO and FCIM.NEO.

Drawdown Indicators

	DXW.TO	FCIM.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-30.99%	-26.89%	-4.10%
Max Drawdown (1Y) Largest decline over 1 year	-10.23%	-13.21%	+2.98%
Max Drawdown (3Y) Largest decline over 3 years	-14.39%	-13.21%	-1.18%
Max Drawdown (5Y) Largest decline over 5 years	-30.99%	-26.89%	-4.10%
Current Drawdown Current decline from peak	-1.36%	-5.21%	+3.85%
Average Drawdown Average peak-to-trough decline	-7.52%	-5.38%	-2.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	3.45%	-0.43%

Volatility

DXW.TO vs. FCIM.NEO - Volatility Comparison

The current volatility for Dynamic Active International Dividend ETF (DXW.TO) is 3.79%, while Fidelity International Momentum Index ETF (FCIM.NEO) has a volatility of 6.80%. This indicates that DXW.TO experiences smaller price fluctuations and is considered to be less risky than FCIM.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DXW.TO	FCIM.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.79%	6.80%	-3.01%
Volatility (6M) Calculated over the trailing 6-month period	12.09%	17.42%	-5.33%
Volatility (1Y) Calculated over the trailing 1-year period	14.39%	19.57%	-5.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.41%	17.55%	-3.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.82%	16.93%	-0.11%

Dividends

DXW.TO vs. FCIM.NEO - Dividend Comparison

DXW.TO's dividend yield for the trailing twelve months is around 1.58%, more than FCIM.NEO's 1.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
DXW.TO Dynamic Active International Dividend ETF	1.58%	2.38%	2.21%	1.94%	2.36%	1.35%	0.97%
FCIM.NEO Fidelity International Momentum Index ETF	1.32%	1.59%	1.26%	1.70%	1.86%	2.70%	0.52%

Frequently Asked Questions

Can I hold both DXW.TO and FCIM.NEO in my portfolio?

DXW.TO and FCIM.NEO have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between DXW.TO and FCIM.NEO?

DXW.TO is categorized as International Equity, while FCIM.NEO is Momentum. They also come from different issuers: Dynamic and Fidelity.