FBAL.NEO vs. CGNG

Last updated Jun 5, 2026

FBAL.NEO (Fidelity All-in-One Balanced ETF) and CGNG (Capital Group New Geography Equity ETF) are both exchange-traded funds - FBAL.NEO is a Diversified Portfolio fund actively managed by Fidelity, while CGNG is a Emerging Markets Diversified fund actively managed by Capital Group. Both are actively managed. Over the past year, FBAL.NEO returned 16.77% vs 36.16% for CGNG. A 0.63 correlation means they provide meaningful diversification when combined. FBAL.NEO charges 0.40%/yr vs 0.64%/yr for CGNG.

Performance

FBAL.NEO vs. CGNG - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity All-in-One Balanced ETF (FBAL.NEO) and Capital Group New Geography Equity ETF (CGNG). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FBAL.NEO is traded in CAD, while CGNG is traded in USD. To make them comparable, the CGNG values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, FBAL.NEO achieves a 7.17% return, which is significantly lower than CGNG's 17.25% return.

FBAL.NEO

• 1D: 0.26%
• 1M: 2.98%
• YTD: 7.17%
• 6M: 6.81%
• 1Y: 16.77%
• 3Y*: 16.34%
• 5Y*: 10.81%
• 10Y*: —

CGNG

• 1D: -0.22%
• 1M: 7.01%
• YTD: 17.25%
• 6M: 16.37%
• 1Y: 36.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FBAL.NEO vs. CGNG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FBAL.NEO Fidelity All-in-One Balanced ETF	7.17%	12.92%	9.36%
CGNG Capital Group New Geography Equity ETF	17.25%	23.83%	3.95%

Correlation

The correlation between FBAL.NEO and CGNG is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jun 28, 2024	0.63

The correlation between FBAL.NEO and CGNG has been stable across timeframes, ranging from 0.63 to 0.66 - a consistent structural relationship.

FBAL.NEO vs. CGNG - Sectors Allocation Comparison

Sectors	FBAL.NEO	CGNG
Financial Services	22.2%	16.2%
Technology	20.6%	31.4%
Industrials	11.3%	10.7%
Basic Materials	9.7%	7.5%
Consumer Cyclical	7.7%	9.8%
Consumer Defensive	5.5%	3.8%
Communication Services	4.8%	10.4%
Real Estate	4.7%	1.3%
Utilities	4.6%	1.8%
Energy	4.4%	3.5%
Healthcare	4.4%	3.5%

Return for Risk

FBAL.NEO vs. CGNG — Risk / Return Rank

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

FBAL.NEO

FBAL.NEO Risk / Return Rank: 67
FBAL.NEO Sharpe Ratio Rank: 69
FBAL.NEO Sortino Ratio Rank: 72
FBAL.NEO Omega Ratio Rank: 73
FBAL.NEO Calmar Ratio Rank: 57
FBAL.NEO Martin Ratio Rank: 65

CGNG

CGNG Risk / Return Rank: 56
CGNG Sharpe Ratio Rank: 57
CGNG Sortino Ratio Rank: 56
CGNG Omega Ratio Rank: 58
CGNG Calmar Ratio Rank: 51
CGNG Martin Ratio Rank: 59

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.

FBAL.NEO vs. CGNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity All-in-One Balanced ETF (FBAL.NEO) and Capital Group New Geography Equity ETF (CGNG). 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.

	FBAL.NEO	CGNG	Difference
Sharpe ratio: Return per unit of total volatility	2.23	2.10	+0.13
Sortino ratio: Return per unit of downside risk	3.20	2.96	+0.23
Omega ratio: Gain probability vs. loss probability	1.43	1.40	+0.03
Calmar ratio: Return relative to maximum drawdown	2.79	2.98	-0.20
Martin ratio: Return relative to average drawdown	11.65	11.86	-0.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FBAL.NEO vs. CGNG - Sharpe Ratio Comparison

The current FBAL.NEO Sharpe Ratio is 2.23, which is comparable to the CGNG Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of FBAL.NEO and CGNG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FBAL.NEO	CGNG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.23	2.10	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.23	1.40	-0.17

Drawdowns

FBAL.NEO vs. CGNG - Drawdown Comparison

The maximum FBAL.NEO drawdown since its inception was -13.83%, roughly equal to the maximum CGNG drawdown of -14.02%. Use the drawdown chart below to compare losses from any high point for FBAL.NEO and CGNG.

Drawdown Indicators

	FBAL.NEO	CGNG	Difference
Max Drawdown Largest peak-to-trough decline	-13.83%	-14.02%	+0.19%
Max Drawdown (1Y) Largest decline over 1 year	-6.04%	-12.17%	+6.13%
Max Drawdown (3Y) Largest decline over 3 years	-8.29%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-13.83%	—	—
Current Drawdown Current decline from peak	-0.19%	-1.17%	+0.98%
Average Drawdown Average peak-to-trough decline	-2.43%	-2.06%	-0.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	3.06%	-1.62%

Volatility

FBAL.NEO vs. CGNG - Volatility Comparison

The current volatility for Fidelity All-in-One Balanced ETF (FBAL.NEO) is 2.78%, while Capital Group New Geography Equity ETF (CGNG) has a volatility of 6.80%. This indicates that FBAL.NEO experiences smaller price fluctuations and is considered to be less risky than CGNG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBAL.NEO	CGNG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.78%	6.80%	-4.02%
Volatility (6M) Calculated over the trailing 6-month period	6.08%	15.06%	-8.98%
Volatility (1Y) Calculated over the trailing 1-year period	7.54%	17.28%	-9.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.58%	17.06%	-8.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.57%	17.06%	-8.49%

FBAL.NEO vs. CGNG - Expense Ratio Comparison

FBAL.NEO has a 0.40% expense ratio, which is lower than CGNG's 0.64% expense ratio.

Dividends

FBAL.NEO vs. CGNG - Dividend Comparison

FBAL.NEO's dividend yield for the trailing twelve months is around 1.50%, more than CGNG's 0.59% yield.

Position	TTM	2025	2024	2023	2022	2021
CGNG Capital Group New Geography Equity ETF	0.59%	0.68%	0.27%	0.00%	0.00%	0.00%
FBAL.NEO Fidelity All-in-One Balanced ETF	1.50%	1.61%	1.42%	1.71%	4.48%	1.08%

Frequently Asked Questions

Can I hold both FBAL.NEO and CGNG in my portfolio?

FBAL.NEO and CGNG have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FBAL.NEO or CGNG?

On fees, FBAL.NEO is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FBAL.NEO or CGNG?

FBAL.NEO is cheaper with a 0.40% expense ratio, compared with 0.64% for CGNG.

What is the main difference between FBAL.NEO and CGNG?

FBAL.NEO is categorized as Diversified Portfolio, while CGNG is Emerging Markets Diversified. They also come from different issuers: Fidelity and Capital Group. Their fees differ too: 0.40% for FBAL.NEO and 0.64% for CGNG.