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FCCV.TO vs. ZLB.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FCCV.TO vs. ZLB.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Canadian Value ETF (FCCV.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.TO).

FCCV.TO and ZLB.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FCCV.TO is a passively managed fund by Fidelity that tracks the performance of the Fidelity Canada Canadian Value Index. It was launched on Jun 5, 2020. ZLB.TO is an actively managed fund by BMO. It was launched on Oct 21, 2011.

Performance

FCCV.TO vs. ZLB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity Canadian Value ETF (FCCV.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.TO). The values are adjusted to include any dividend payments, if applicable.

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FCCV.TO vs. ZLB.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
FCCV.TO
Fidelity Canadian Value ETF		5.92%36.93%15.47%11.16%-3.35%34.98%20.55%
ZLB.TO
BMO Low Volatility Canadian Equity ETF		1.42%20.31%15.20%9.29%-0.46%22.81%12.56%

Returns By Period

In the year-to-date period, FCCV.TO achieves a 5.92% return, which is significantly higher than ZLB.TO's 1.42% return.

FCCV.TO

1D
3.09%
1M
-5.01%
YTD
5.92%
6M
15.59%
1Y
41.67%
3Y*
21.05%
5Y*
17.33%
10Y*
—

ZLB.TO

1D
1.23%
1M
-2.74%
YTD
1.42%
6M
2.74%
1Y
15.44%
3Y*
12.86%
5Y*
11.57%
10Y*
10.13%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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 Value ETF

BMO Low Volatility Canadian Equity ETF

Often compared with FCCV.TO:
FCCV.TO vs. CCOM.TOFCCV.TO vs. XIC.TOFCCV.TO vs. XDIV.TOFCCV.TO vs. VDY.TOFCCV.TO vs. CLSA.TOFCCV.TO vs. FXM.TOFCCV.TO vs. HEWB.TO
Often compared with ZLB.TO:
ZLB.TO vs. VDY.TOZLB.TO vs. XIU.TOZLB.TO vs. XDIV.TOZLB.TO vs. XMW.TOZLB.TO vs. XBAL.TOZLB.TO vs. XUT.TOZLB.TO vs. XUU-U.TO

FCCV.TO vs. ZLB.TO - Expense Ratio Comparison

FCCV.TO has a 0.35% expense ratio, which is lower than ZLB.TO's 0.39% expense ratio.

ZLB.TO
BMO Low Volatility Canadian Equity ETF
FCCV.TO
Fidelity Canadian Value ETF

Return for Risk

FCCV.TO vs. ZLB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FCCV.TO
FCCV.TO Risk / Return Rank: 9595
Overall Rank
FCCV.TO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
FCCV.TO Sortino Ratio Rank: 9595
Sortino Ratio Rank
FCCV.TO Omega Ratio Rank: 9696
Omega Ratio Rank
FCCV.TO Calmar Ratio Rank: 9494
Calmar Ratio Rank
FCCV.TO Martin Ratio Rank: 9595
Martin Ratio Rank
ZLB.TO
ZLB.TO Risk / Return Rank: 8282
Overall Rank
ZLB.TO Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
ZLB.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
ZLB.TO Omega Ratio Rank: 8181
Omega Ratio Rank
ZLB.TO Calmar Ratio Rank: 8787
Calmar Ratio Rank
ZLB.TO Martin Ratio Rank: 8282
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.

FCCV.TO vs. ZLB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Canadian Value ETF (FCCV.TO) and BMO Low Volatility Canadian Equity ETF (ZLB.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.

FCCV.TOZLB.TODifference

Sharpe ratio

Return per unit of total volatility

2.50

1.48

+1.02

Sortino ratio

Return per unit of downside risk

3.09

1.99

+1.10

Omega ratio

Gain probability vs. loss probability

1.50

1.30

+0.21

Calmar ratio

Return relative to maximum drawdown

3.76

2.57

+1.18

Martin ratio

Return relative to average drawdown

16.13

8.71

+7.42

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

FCCV.TO vs. ZLB.TO - Sharpe Ratio Comparison

The current FCCV.TO Sharpe Ratio is 2.50, which is higher than the ZLB.TO Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of FCCV.TO and ZLB.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

FCCV.TOZLB.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.50

1.48

+1.02

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.17

1.22

-0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.84

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.38

1.12

+0.26

Correlation

The correlation between FCCV.TO and ZLB.TO is 0.54, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FCCV.TO vs. ZLB.TO - Dividend Comparison

FCCV.TO's dividend yield for the trailing twelve months is around 1.74%, less than ZLB.TO's 1.92% yield.

TTM20252024202320222021202020192018201720162015
FCCV.TO
Fidelity Canadian Value ETF		1.74%1.84%2.59%3.01%2.45%1.66%1.59%0.00%0.00%0.00%0.00%0.00%
ZLB.TO
BMO Low Volatility Canadian Equity ETF		1.92%1.93%2.28%2.56%2.56%2.29%2.72%2.34%2.65%2.42%2.82%2.25%

Drawdowns

FCCV.TO vs. ZLB.TO - Drawdown Comparison

The maximum FCCV.TO drawdown since its inception was -19.81%, smaller than the maximum ZLB.TO drawdown of -33.96%. Use the drawdown chart below to compare losses from any high point for FCCV.TO and ZLB.TO.

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Drawdown Indicators

FCCV.TOZLB.TODifference

Max Drawdown

Largest peak-to-trough decline

-19.81%

-33.96%

+14.15%

Max Drawdown (1Y)

Largest decline over 1 year

-11.44%

-6.53%

-4.91%

Max Drawdown (5Y)

Largest decline over 5 years

-19.81%

-13.04%

-6.77%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.96%

—

Current Drawdown

Current decline from peak

-5.34%

-3.08%

-2.26%

Average Drawdown

Average peak-to-trough decline

-3.61%

-2.51%

-1.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.66%

1.93%

+0.73%

Volatility

FCCV.TO vs. ZLB.TO - Volatility Comparison

Fidelity Canadian Value ETF (FCCV.TO) has a higher volatility of 6.13% compared to BMO Low Volatility Canadian Equity ETF (ZLB.TO) at 3.64%. This indicates that FCCV.TO's price experiences larger fluctuations and is considered to be riskier than ZLB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FCCV.TOZLB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.13%

3.64%

+2.49%

Volatility (6M)

Calculated over the trailing 6-month period

12.09%

7.64%

+4.45%

Volatility (1Y)

Calculated over the trailing 1-year period

16.75%

10.52%

+6.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.85%

9.57%

+5.28%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.82%

12.19%

+2.63%