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FCCQ.TO vs. CDZ.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FCCQ.TO vs. CDZ.TO

Last updated Jun 4, 2026

FCCQ.TO (Fidelity Canadian High Quality ETF) and CDZ.TO (iShares S&P/TSX Canadian Dividend Aristocrats Index ETF) are both Canada Equities funds - FCCQ.TO tracks the Fidelity Canada Canadian High Quality Index while CDZ.TO tracks the Morningstar Canada GR CAD. Both are passively managed. Over the past 5 years, FCCQ.TO returned 13.37%/yr vs 10.31%/yr for CDZ.TO. A 0.54 correlation means they provide meaningful diversification when combined. FCCQ.TO charges 0.35%/yr vs 0.66%/yr for CDZ.TO.

Performance

FCCQ.TO vs. CDZ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity Canadian High Quality ETF (FCCQ.TO) and iShares S&P/TSX Canadian Dividend Aristocrats Index ETF (CDZ.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FCCQ.TO achieves a 6.62% return, which is significantly lower than CDZ.TO's 13.46% return.

FCCQ.TO

1D
-0.77%
1M
1.71%
YTD
6.62%
6M
7.88%
1Y
31.20%
3Y*
22.31%
5Y*
13.37%
10Y*
—

CDZ.TO

1D
0.00%
1M
3.31%
YTD
13.46%
6M
10.74%
1Y
22.32%
3Y*
16.81%
5Y*
10.31%
10Y*
9.44%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FCCQ.TO vs. CDZ.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
FCCQ.TO
Fidelity Canadian High Quality ETF		6.62%31.01%21.58%11.02%-7.52%22.24%2.30%10.49%
CDZ.TO
iShares S&P/TSX Canadian Dividend Aristocrats Index ETF		13.46%13.45%17.86%8.98%-4.43%22.80%-3.27%17.85%

Correlation

The correlation between FCCQ.TO and CDZ.TO is 0.56, 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

0.56

Correlation (3Y)
Calculated over the trailing 3-year period

0.67

Correlation (5Y)
Calculated over the trailing 5-year period

0.65

Correlation (All Time)
Calculated using the full available price history since Jan 25, 2019

0.54

The correlation between FCCQ.TO and CDZ.TO shifts across timeframes, from 0.54 (all time) to 0.67 (3 years), reflecting how their relationship changes across market environments.

FCCQ.TO vs. CDZ.TO - Sectors Allocation Comparison

Sectors
FCCQ.TO
CDZ.TO

Financial Services

27.4%
17.1%

Basic Materials

23.0%
3.3%

Technology

12.9%
2.7%

Energy

11.2%
22.7%

Consumer Defensive

10.7%
6.7%

Consumer Cyclical

5.7%
7.6%

Healthcare

3.8%

-

Industrials

3.6%
14.5%

Real Estate

1.8%
8.9%

Communication Services

-

7.5%

Utilities

-

9.0%

Financial Services

FCCQ.TO
27.4%
CDZ.TO
17.1%

Basic Materials

FCCQ.TO
23.0%
CDZ.TO
3.3%

Technology

FCCQ.TO
12.9%
CDZ.TO
2.7%

Energy

FCCQ.TO
11.2%
CDZ.TO
22.7%

Consumer Defensive

FCCQ.TO
10.7%
CDZ.TO
6.7%

Consumer Cyclical

FCCQ.TO
5.7%
CDZ.TO
7.6%

Healthcare

FCCQ.TO
3.8%
CDZ.TO

-

Industrials

FCCQ.TO
3.6%
CDZ.TO
14.5%

Real Estate

FCCQ.TO
1.8%
CDZ.TO
8.9%

Communication Services

FCCQ.TO

-

CDZ.TO
7.5%

Utilities

FCCQ.TO

-

CDZ.TO
9.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Fidelity Canadian High Quality ETF

iShares S&P/TSX Canadian Dividend Aristocrats Index ETF

Often compared with FCCQ.TO:
FCCQ.TO vs. FBTC.TOFCCQ.TO vs. FXM.TOFCCQ.TO vs. FCCM.NEOFCCQ.TO vs. FCMO.NEOFCCQ.TO vs. DMEC.TOFCCQ.TO vs. XIC.TOFCCQ.TO vs. HCA.TO
Often compared with CDZ.TO:
CDZ.TO vs. VDY.TOCDZ.TO vs. XDIV.TOCDZ.TO vs. XEI.TOCDZ.TO vs. XDV.TOCDZ.TO vs. XEQT.TOCDZ.TO vs. CUD.TOCDZ.TO vs. VEQT.TO

Return for Risk

FCCQ.TO vs. CDZ.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FCCQ.TO
FCCQ.TO Risk / Return Rank: 6262
Overall Rank
FCCQ.TO Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
FCCQ.TO Sortino Ratio Rank: 5858
Sortino Ratio Rank
FCCQ.TO Omega Ratio Rank: 6565
Omega Ratio Rank
FCCQ.TO Calmar Ratio Rank: 5656
Calmar Ratio Rank
FCCQ.TO Martin Ratio Rank: 6565
Martin Ratio Rank
CDZ.TO
CDZ.TO Risk / Return Rank: 8484
Overall Rank
CDZ.TO Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
CDZ.TO Sortino Ratio Rank: 7777
Sortino Ratio Rank
CDZ.TO Omega Ratio Rank: 8888
Omega Ratio Rank
CDZ.TO Calmar Ratio Rank: 8989
Calmar Ratio Rank
CDZ.TO Martin Ratio Rank: 8686
Martin Ratio Rank
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.

FCCQ.TO vs. CDZ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Canadian High Quality ETF (FCCQ.TO) and iShares S&P/TSX Canadian Dividend Aristocrats Index ETF (CDZ.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.

FCCQ.TOCDZ.TODifference
Sharpe ratioReturn per unit of total volatility
2.17
2.72

-0.55

Sortino ratioReturn per unit of downside risk
2.79
3.53

-0.74

Omega ratioGain probability vs. loss probability

1.39

1.56

-0.17

Calmar ratioReturn relative to maximum drawdown

2.78

5.46

-2.68

Martin ratioReturn relative to average drawdown

11.87

18.49

-6.62

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCCQ.TO vs. CDZ.TO - Sharpe Ratio Comparison

The current FCCQ.TO Sharpe Ratio is 2.17, which is comparable to the CDZ.TO Sharpe Ratio of 2.72. The chart below compares the historical Sharpe Ratios of FCCQ.TO and CDZ.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.

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Sharpe Ratios by Period

FCCQ.TOCDZ.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.17

2.72

-0.55

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.98

0.95

+0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.65

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.80

0.52

+0.28

Drawdowns

FCCQ.TO vs. CDZ.TO - Drawdown Comparison

The maximum FCCQ.TO drawdown since its inception was -35.31%, smaller than the maximum CDZ.TO drawdown of -49.33%. Use the drawdown chart below to compare losses from any high point for FCCQ.TO and CDZ.TO.

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Drawdown Indicators

FCCQ.TOCDZ.TODifference

Max Drawdown

Largest peak-to-trough decline

-35.31%

-49.33%

+14.02%

Max Drawdown (1Y)

Largest decline over 1 year

-11.29%

-4.11%

-7.18%

Max Drawdown (3Y)

Largest decline over 3 years

-13.41%

-12.99%

-0.42%

Max Drawdown (5Y)

Largest decline over 5 years

-17.97%

-17.15%

-0.82%

Max Drawdown (10Y)

Largest decline over 10 years

—

-45.70%

—

Current Drawdown

Current decline from peak

-2.68%

-0.09%

-2.59%

Average Drawdown

Average peak-to-trough decline

-3.99%

-6.14%

+2.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.64%

1.21%

+1.43%

Volatility

FCCQ.TO vs. CDZ.TO - Volatility Comparison

Fidelity Canadian High Quality ETF (FCCQ.TO) has a higher volatility of 4.12% compared to iShares S&P/TSX Canadian Dividend Aristocrats Index ETF (CDZ.TO) at 1.88%. This indicates that FCCQ.TO's price experiences larger fluctuations and is considered to be riskier than CDZ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FCCQ.TOCDZ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.12%

1.88%

+2.24%

Volatility (6M)

Calculated over the trailing 6-month period

12.07%

6.91%

+5.16%

Volatility (1Y)

Calculated over the trailing 1-year period

14.47%

8.26%

+6.21%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.72%

10.86%

+2.86%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.05%

14.63%

+1.42%

FCCQ.TO vs. CDZ.TO - Expense Ratio Comparison

FCCQ.TO has a 0.35% expense ratio, which is lower than CDZ.TO's 0.66% expense ratio.

Dividends

FCCQ.TO vs. CDZ.TO - Dividend Comparison

FCCQ.TO's dividend yield for the trailing twelve months is around 1.47%, less than CDZ.TO's 3.07% yield.

PositionTTM20252024202320222021202020192018201720162015
CDZ.TO
iShares S&P/TSX Canadian Dividend Aristocrats Index ETF		3.07%3.46%3.56%3.71%3.67%2.95%3.70%3.68%4.37%3.43%3.51%3.72%
FCCQ.TO
Fidelity Canadian High Quality ETF		1.47%1.45%1.83%2.40%2.31%1.90%2.10%2.30%0.00%0.00%0.00%0.00%

Frequently Asked Questions

FCCQ.TO and CDZ.TO have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, FCCQ.TO is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

FCCQ.TO is cheaper with a 0.35% expense ratio, compared with 0.66% for CDZ.TO.

FCCQ.TO tracks Fidelity Canada Canadian High Quality Index, while CDZ.TO tracks Morningstar Canada GR CAD. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.35% for FCCQ.TO and 0.66% for CDZ.TO.

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