FCCQ.TO vs. VCE.TO

Last updated Jul 16, 2026

FCCQ.TO (Fidelity Canadian High Quality ETF) and VCE.TO (Vanguard FTSE Canada Index ETF) are both Canada Equities funds - FCCQ.TO tracks the Fidelity Canada Canadian High Quality Index while VCE.TO tracks the FTSE Canada Domestic Index. Both are passively managed. Over the past 5 years, FCCQ.TO returned 13.46%/yr vs 14.99%/yr for VCE.TO. A 0.63 correlation means they provide meaningful diversification when combined. FCCQ.TO charges 0.35%/yr vs 0.06%/yr for VCE.TO.

Performance

FCCQ.TO vs. VCE.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 Vanguard FTSE Canada Index ETF (VCE.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCCQ.TO achieves a 6.98% return, which is significantly lower than VCE.TO's 13.32% return.

FCCQ.TO

• 1D: 0.04%
• 1M: -0.95%
• 6M: 2.69%
• YTD: 6.98%
• 1Y: 29.84%
• 3Y*: 22.09%
• 5Y*: 13.46%
• 10Y*: —

VCE.TO

• 1D: 0.34%
• 1M: 1.36%
• 6M: 9.60%
• YTD: 13.32%
• 1Y: 30.32%
• 3Y*: 22.88%
• 5Y*: 14.99%
• 10Y*: 12.81%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FCCQ.TO Fidelity Canadian High Quality ETF	6.98%	32.22%	21.60%	11.04%	-7.50%	22.27%	1.92%	9.55%
VCE.TO Vanguard FTSE Canada Index ETF	13.32%	26.45%	21.50%	12.34%	-5.14%	28.63%	4.18%	15.59%

Correlation

The correlation between FCCQ.TO and VCE.TO is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jan 24, 2019	0.63

Over the past year, FCCQ.TO and VCE.TO have become more correlated (0.88) than their long-term average of 0.63, meaning their price movements have been converging.

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

Sectors	FCCQ.TO	VCE.TO
Financial Services	28.1%	38.3%
Basic Materials	23.8%	15.9%
Technology	13.0%	8.2%
Energy	10.6%	17.6%
Consumer Defensive	10.4%	2.9%
Consumer Cyclical	5.1%	3.3%
Healthcare	3.9%	-
Industrials	3.6%	10.3%
Real Estate	1.7%	0.2%
Communication Services	-	1.6%
Utilities	-	1.8%

Return for Risk

FCCQ.TO vs. VCE.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: 73
FCCQ.TO Sharpe Ratio Rank: 79
FCCQ.TO Sortino Ratio Rank: 72
FCCQ.TO Omega Ratio Rank: 77
FCCQ.TO Calmar Ratio Rank: 65
FCCQ.TO Martin Ratio Rank: 72

VCE.TO

VCE.TO Risk / Return Rank: 88
VCE.TO Sharpe Ratio Rank: 90
VCE.TO Sortino Ratio Rank: 87
VCE.TO Omega Ratio Rank: 88
VCE.TO Calmar Ratio Rank: 86
VCE.TO Martin Ratio Rank: 92

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. VCE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Canadian High Quality ETF (FCCQ.TO) and Vanguard FTSE Canada Index ETF (VCE.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.

	FCCQ.TO	VCE.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.02	2.41	-0.39
Sortino ratio: Return per unit of downside risk	2.63	3.18	-0.55
Omega ratio: Gain probability vs. loss probability	1.36	1.43	-0.07
Calmar ratio: Return relative to maximum drawdown	2.66	3.77	-1.11
Martin ratio: Return relative to average drawdown	10.62	17.18	-6.56

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

The current FCCQ.TO Sharpe Ratio is 2.02, which is comparable to the VCE.TO Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of FCCQ.TO and VCE.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

FCCQ.TO vs. VCE.TO - Drawdown Comparison

The maximum FCCQ.TO drawdown since its inception was -35.56%, roughly equal to the maximum VCE.TO drawdown of -35.93%. Use the drawdown chart below to compare losses from any high point for FCCQ.TO and VCE.TO.

Drawdown Indicators

	FCCQ.TO	VCE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-35.56%	-35.93%	+0.37%
Max Drawdown (1Y) Largest decline over 1 year	-11.29%	-8.09%	-3.20%
Max Drawdown (3Y) Largest decline over 3 years	-13.41%	-12.15%	-1.26%
Max Drawdown (5Y) Largest decline over 5 years	-17.96%	-15.86%	-2.10%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.93%	—
Current Drawdown Current decline from peak	-2.36%	0.00%	-2.36%
Average Drawdown Average peak-to-trough decline	-3.99%	-3.69%	-0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.82%	1.77%	+1.05%

Volatility

FCCQ.TO vs. VCE.TO - Volatility Comparison

Fidelity Canadian High Quality ETF (FCCQ.TO) has a higher volatility of 2.96% compared to Vanguard FTSE Canada Index ETF (VCE.TO) at 2.18%. This indicates that FCCQ.TO's price experiences larger fluctuations and is considered to be riskier than VCE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCCQ.TO	VCE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.96%	2.18%	+0.78%
Volatility (6M) Calculated over the trailing 6-month period	12.10%	10.05%	+2.05%
Volatility (1Y) Calculated over the trailing 1-year period	14.86%	12.68%	+2.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.76%	12.84%	+0.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.05%	14.98%	+1.07%

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

FCCQ.TO has a 0.35% expense ratio, which is higher than VCE.TO's 0.06% expense ratio.

Dividends

FCCQ.TO vs. VCE.TO - Dividend Comparison

FCCQ.TO's dividend yield for the trailing twelve months is around 1.49%, less than VCE.TO's 2.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCCQ.TO Fidelity Canadian High Quality ETF	1.49%	1.44%	1.85%	2.41%	2.33%	1.92%	2.14%	2.33%	0.00%	0.00%	0.00%	0.00%
VCE.TO Vanguard FTSE Canada Index ETF	2.12%	2.46%	2.89%	3.22%	3.27%	2.66%	2.99%	3.06%	3.27%	2.62%	2.69%	3.04%

Frequently Asked Questions

Can I hold both FCCQ.TO and VCE.TO in my portfolio?

FCCQ.TO and VCE.TO have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FCCQ.TO or VCE.TO?

On fees, VCE.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FCCQ.TO or VCE.TO?

VCE.TO is cheaper with a 0.06% expense ratio, compared with 0.35% for FCCQ.TO.

What is the main difference between FCCQ.TO and VCE.TO?

FCCQ.TO tracks Fidelity Canada Canadian High Quality Index, while VCE.TO tracks FTSE Canada Domestic Index. They also come from different issuers: Fidelity and Vanguard. Their fees differ too: 0.35% for FCCQ.TO and 0.06% for VCE.TO.