FCCM.NEO vs. PMIF-U.TO

Last updated Jun 26, 2026

FCCM.NEO (Fidelity Canadian Momentum Index ETF) and PMIF-U.TO (PIMCO Monthly Income Fund (Canada)) are both exchange-traded funds - FCCM.NEO is a Momentum fund tracking the Fidelity Canada Canadian Momentum Index, while PMIF-U.TO is a Multisector Bonds fund actively managed by PIMCO. FCCM.NEO is passively managed, while PMIF-U.TO is actively managed. Over the past year, FCCM.NEO returned 40.18% vs 11.99% for PMIF-U.TO. At a 0.12 correlation, their price movements are largely independent. FCCM.NEO charges 0.38%/yr vs 0.84%/yr for PMIF-U.TO.

Performance

FCCM.NEO vs. PMIF-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity Canadian Momentum Index ETF (FCCM.NEO) and PIMCO Monthly Income Fund (Canada) (PMIF-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FCCM.NEO is traded in CAD, while PMIF-U.TO is traded in USD. To make them comparable, the PMIF-U.TO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, FCCM.NEO achieves a 9.77% return, which is significantly higher than PMIF-U.TO's 5.95% return.

FCCM.NEO

• 1D: 0.59%
• 1M: -0.63%
• YTD: 9.77%
• 6M: 8.54%
• 1Y: 40.18%
• 3Y*: 29.66%
• 5Y*: 18.30%
• 10Y*: —

PMIF-U.TO

• 1D: 0.38%
• 1M: 4.43%
• YTD: 5.95%
• 6M: 6.12%
• 1Y: 11.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FCCM.NEO vs. PMIF-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FCCM.NEO Fidelity Canadian Momentum Index ETF	9.77%	43.17%	27.03%	0.00%
PMIF-U.TO PIMCO Monthly Income Fund (Canada)	5.95%	5.70%	14.73%	0.47%

Correlation

The correlation between FCCM.NEO and PMIF-U.TO is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since Dec 28, 2023	0.12

Return for Risk

FCCM.NEO vs. PMIF-U.TO — Risk / Return Rank

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

FCCM.NEO

FCCM.NEO Risk / Return Rank: 82
FCCM.NEO Sharpe Ratio Rank: 87
FCCM.NEO Sortino Ratio Rank: 84
FCCM.NEO Omega Ratio Rank: 86
FCCM.NEO Calmar Ratio Rank: 74
FCCM.NEO Martin Ratio Rank: 81

PMIF-U.TO

PMIF-U.TO Risk / Return Rank: 76
PMIF-U.TO Sharpe Ratio Rank: 84
PMIF-U.TO Sortino Ratio Rank: 88
PMIF-U.TO Omega Ratio Rank: 85
PMIF-U.TO Calmar Ratio Rank: 60
PMIF-U.TO Martin Ratio Rank: 65

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.

FCCM.NEO vs. PMIF-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Canadian Momentum Index ETF (FCCM.NEO) and PIMCO Monthly Income Fund (Canada) (PMIF-U.TO). 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.

	FCCM.NEO	PMIF-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.46	2.15	+0.30
Sortino ratio: Return per unit of downside risk	3.25	3.16	+0.10
Omega ratio: Gain probability vs. loss probability	1.45	1.38	+0.07
Calmar ratio: Return relative to maximum drawdown	3.27	3.60	-0.33
Martin ratio: Return relative to average drawdown	13.78	8.87	+4.91

FCCM.NEO vs. PMIF-U.TO - Sharpe Ratio Comparison

The current FCCM.NEO Sharpe Ratio is 2.46, which is comparable to the PMIF-U.TO Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of FCCM.NEO and PMIF-U.TO, 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

FCCM.NEO vs. PMIF-U.TO - Drawdown Comparison

The maximum FCCM.NEO drawdown since its inception was -16.59%, which is greater than PMIF-U.TO's maximum drawdown of -6.19%. Use the drawdown chart below to compare losses from any high point for FCCM.NEO and PMIF-U.TO.

Drawdown Indicators

	FCCM.NEO	PMIF-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-16.59%	-6.19%	-10.40%
Max Drawdown (1Y) Largest decline over 1 year	-12.36%	-3.34%	-9.02%
Max Drawdown (3Y) Largest decline over 3 years	-12.36%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.59%	—	—
Current Drawdown Current decline from peak	-2.39%	0.00%	-2.39%
Average Drawdown Average peak-to-trough decline	-2.60%	-1.39%	-1.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	1.35%	+1.57%

Volatility

FCCM.NEO vs. PMIF-U.TO - Volatility Comparison

Fidelity Canadian Momentum Index ETF (FCCM.NEO) has a higher volatility of 6.12% compared to PIMCO Monthly Income Fund (Canada) (PMIF-U.TO) at 1.68%. This indicates that FCCM.NEO's price experiences larger fluctuations and is considered to be riskier than PMIF-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCCM.NEO	PMIF-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.12%	1.68%	+4.44%
Volatility (6M) Calculated over the trailing 6-month period	13.57%	4.22%	+9.35%
Volatility (1Y) Calculated over the trailing 1-year period	16.44%	5.59%	+10.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.67%	6.49%	+7.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.52%	6.49%	+7.03%

FCCM.NEO vs. PMIF-U.TO - Expense Ratio Comparison

FCCM.NEO has a 0.38% expense ratio, which is lower than PMIF-U.TO's 0.84% expense ratio.

Dividends

FCCM.NEO vs. PMIF-U.TO - Dividend Comparison

FCCM.NEO's dividend yield for the trailing twelve months is around 0.83%, less than PMIF-U.TO's 5.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FCCM.NEO Fidelity Canadian Momentum Index ETF	0.83%	0.91%	0.91%	1.32%	1.79%	1.49%	0.78%
PMIF-U.TO PIMCO Monthly Income Fund (Canada)	5.50%	5.50%	6.78%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FCCM.NEO and PMIF-U.TO in my portfolio?

FCCM.NEO and PMIF-U.TO have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FCCM.NEO or PMIF-U.TO?

On fees, FCCM.NEO is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FCCM.NEO or PMIF-U.TO?

FCCM.NEO is cheaper with a 0.38% expense ratio, compared with 0.84% for PMIF-U.TO.

What is the main difference between FCCM.NEO and PMIF-U.TO?

FCCM.NEO is categorized as Momentum, while PMIF-U.TO is Multisector Bonds. They also come from different issuers: Fidelity and PIMCO. Their fees differ too: 0.38% for FCCM.NEO and 0.84% for PMIF-U.TO.