FCCM.NEO vs. XSH.TO
FCCM.NEO (Fidelity Canadian Momentum Index ETF) and XSH.TO (iShares Core Canadian Short Term Corporate Bond Index ETF) are both exchange-traded funds - FCCM.NEO is a Momentum fund tracking the Fidelity Canada Canadian Momentum Index, while XSH.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD. Both are passively managed. Over the past 5 years, FCCM.NEO returned 19.08%/yr vs 2.85%/yr for XSH.TO. At a 0.13 correlation, their price movements are largely independent. FCCM.NEO charges 0.38%/yr vs 0.10%/yr for XSH.TO.
Performance
FCCM.NEO vs. XSH.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FCCM.NEO achieves a 11.11% return, which is significantly higher than XSH.TO's 1.28% return.
FCCM.NEO
- 1D
- 1.32%
- 1M
- 3.24%
- YTD
- 11.11%
- 6M
- 12.84%
- 1Y
- 44.14%
- 3Y*
- 29.52%
- 5Y*
- 19.08%
- 10Y*
- —
XSH.TO
- 1D
- -0.05%
- 1M
- 0.91%
- YTD
- 1.28%
- 6M
- 1.34%
- 1Y
- 3.85%
- 3Y*
- 6.03%
- 5Y*
- 2.85%
- 10Y*
- 2.82%
FCCM.NEO vs. XSH.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FCCM.NEO Fidelity Canadian Momentum Index ETF | 11.11% | 43.17% | 27.03% | 10.10% | -3.42% | 14.23% | 9.03% |
XSH.TO iShares Core Canadian Short Term Corporate Bond Index ETF | 1.28% | 4.61% | 7.11% | 6.80% | -4.52% | -0.81% | 3.09% |
Correlation
The correlation between FCCM.NEO and XSH.TO 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 | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2020 | 0.13 |
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Return for Risk
FCCM.NEO vs. XSH.TO — Risk / Return Rank
FCCM.NEO
XSH.TO
FCCM.NEO vs. XSH.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Canadian Momentum Index ETF (FCCM.NEO) and iShares Core Canadian Short Term Corporate Bond Index ETF (XSH.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.
| FCCM.NEO | XSH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.05 | ||
| Sortino ratioReturn per unit of downside risk | +1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.36 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.59 | 2.57 | +1.02 |
| Martin ratioReturn relative to average drawdown | 15.61 | 10.05 | +5.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FCCM.NEO | XSH.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.85 | 1.79 | +1.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.42 | 1.01 | +0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.64 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.34 | 0.74 | +0.60 |
Drawdowns
FCCM.NEO vs. XSH.TO - Drawdown Comparison
The maximum FCCM.NEO drawdown since its inception was -16.59%, which is greater than XSH.TO's maximum drawdown of -14.24%. Use the drawdown chart below to compare losses from any high point for FCCM.NEO and XSH.TO.
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Drawdown Indicators
| FCCM.NEO | XSH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.59% | -14.24% | -2.35% |
Max Drawdown (1Y)Largest decline over 1 year | -12.36% | -1.51% | -10.85% |
Max Drawdown (3Y)Largest decline over 3 years | -12.36% | -1.51% | -10.85% |
Max Drawdown (5Y)Largest decline over 5 years | -16.59% | -7.80% | -8.79% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.24% | — |
Current DrawdownCurrent decline from peak | -1.19% | -0.05% | -1.14% |
Average DrawdownAverage peak-to-trough decline | -2.60% | -0.93% | -1.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.83% | 0.38% | +2.45% |
Volatility
FCCM.NEO vs. XSH.TO - Volatility Comparison
Fidelity Canadian Momentum Index ETF (FCCM.NEO) has a higher volatility of 5.20% compared to iShares Core Canadian Short Term Corporate Bond Index ETF (XSH.TO) at 0.80%. This indicates that FCCM.NEO's price experiences larger fluctuations and is considered to be riskier than XSH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCCM.NEO | XSH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.20% | 0.80% | +4.40% |
Volatility (6M)Calculated over the trailing 6-month period | 12.63% | 1.83% | +10.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.60% | 2.16% | +13.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.47% | 2.83% | +10.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.41% | 4.42% | +8.99% |
FCCM.NEO vs. XSH.TO - Expense Ratio Comparison
FCCM.NEO has a 0.38% expense ratio, which is higher than XSH.TO's 0.10% expense ratio.
Dividends
FCCM.NEO vs. XSH.TO - Dividend Comparison
FCCM.NEO's dividend yield for the trailing twelve months is around 0.82%, less than XSH.TO's 3.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCCM.NEO Fidelity Canadian Momentum Index ETF | 0.82% | 0.91% | 0.91% | 1.32% | 1.79% | 1.49% | 0.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XSH.TO iShares Core Canadian Short Term Corporate Bond Index ETF | 3.90% | 3.82% | 3.64% | 3.24% | 2.97% | 2.65% | 2.61% | 2.80% | 2.86% | 2.93% | 3.08% | 3.18% |
Frequently Asked Questions
FCCM.NEO and XSH.TO 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.
On fees, XSH.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSH.TO is cheaper with a 0.10% expense ratio, compared with 0.38% for FCCM.NEO.
FCCM.NEO is categorized as Momentum, while XSH.TO is Canadian Government Bonds. FCCM.NEO tracks Fidelity Canada Canadian Momentum Index, while XSH.TO tracks Morningstar Can 1-5Y Core Bd GR CAD. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.38% for FCCM.NEO and 0.10% for XSH.TO.
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