FCID.TO vs. IDIV-B.TO

Last updated Jun 4, 2026

FCID.TO (Fidelity International High Dividend ETF) and IDIV-B.TO (Manulife Smart International Dividend ETF Unhedged Units) are both Dividend funds. FCID.TO is passively managed, while IDIV-B.TO is actively managed. Over the past 3 years, FCID.TO returned 20.29%/yr vs 21.08%/yr for IDIV-B.TO. A 0.61 correlation means they provide meaningful diversification when combined. FCID.TO charges 0.45%/yr vs 0.55%/yr for IDIV-B.TO.

Performance

FCID.TO vs. IDIV-B.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity International High Dividend ETF (FCID.TO) and Manulife Smart International Dividend ETF Unhedged Units (IDIV-B.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCID.TO achieves a 10.23% return, which is significantly lower than IDIV-B.TO's 10.75% return.

FCID.TO

• 1D: -0.41%
• 1M: 3.45%
• YTD: 10.23%
• 6M: 11.17%
• 1Y: 26.94%
• 3Y*: 20.29%
• 5Y*: 13.72%
• 10Y*: —

IDIV-B.TO

• 1D: 0.00%
• 1M: 3.35%
• YTD: 10.75%
• 6M: 8.02%
• 1Y: 25.99%
• 3Y*: 21.08%
• 5Y*: —
• 10Y*: —

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

FCID.TO vs. IDIV-B.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FCID.TO Fidelity International High Dividend ETF	10.23%	30.48%	9.16%	15.21%	7.16%
IDIV-B.TO Manulife Smart International Dividend ETF Unhedged Units	10.75%	35.22%	12.85%	12.28%	7.59%

Correlation

The correlation between FCID.TO and IDIV-B.TO is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (All Time) Calculated using the full available price history since Nov 11, 2022	0.61

Over the past year, FCID.TO and IDIV-B.TO have become more correlated (0.84) than their long-term average of 0.61, meaning their price movements have been converging.

Return for Risk

FCID.TO vs. IDIV-B.TO — Risk / Return Rank

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

FCID.TO

FCID.TO Risk / Return Rank: 64
FCID.TO Sharpe Ratio Rank: 64
FCID.TO Sortino Ratio Rank: 63
FCID.TO Omega Ratio Rank: 64
FCID.TO Calmar Ratio Rank: 62
FCID.TO Martin Ratio Rank: 66

IDIV-B.TO

IDIV-B.TO Risk / Return Rank: 53
IDIV-B.TO Sharpe Ratio Rank: 50
IDIV-B.TO Sortino Ratio Rank: 47
IDIV-B.TO Omega Ratio Rank: 52
IDIV-B.TO Calmar Ratio Rank: 53
IDIV-B.TO Martin Ratio Rank: 62

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.

FCID.TO vs. IDIV-B.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity International High Dividend ETF (FCID.TO) and Manulife Smart International Dividend ETF Unhedged Units (IDIV-B.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.

	FCID.TO	IDIV-B.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.15	1.69	+0.46
Sortino ratio: Return per unit of downside risk	2.95	2.31	+0.64
Omega ratio: Gain probability vs. loss probability	1.39	1.32	+0.07
Calmar ratio: Return relative to maximum drawdown	3.08	2.60	+0.48
Martin ratio: Return relative to average drawdown	12.10	11.03	+1.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCID.TO vs. IDIV-B.TO - Sharpe Ratio Comparison

The current FCID.TO Sharpe Ratio is 2.15, which is comparable to the IDIV-B.TO Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of FCID.TO and IDIV-B.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.

Sharpe Ratios by Period

	FCID.TO	IDIV-B.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	1.69	+0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.05	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	1.59	-1.05

Drawdowns

FCID.TO vs. IDIV-B.TO - Drawdown Comparison

The maximum FCID.TO drawdown since its inception was -34.49%, which is greater than IDIV-B.TO's maximum drawdown of -13.62%. Use the drawdown chart below to compare losses from any high point for FCID.TO and IDIV-B.TO.

Drawdown Indicators

	FCID.TO	IDIV-B.TO	Difference
Max Drawdown Largest peak-to-trough decline	-34.49%	-13.62%	-20.87%
Max Drawdown (1Y) Largest decline over 1 year	-8.78%	-10.03%	+1.25%
Max Drawdown (3Y) Largest decline over 3 years	-15.86%	-13.62%	-2.24%
Max Drawdown (5Y) Largest decline over 5 years	-19.68%	—	—
Current Drawdown Current decline from peak	-1.81%	-3.00%	+1.19%
Average Drawdown Average peak-to-trough decline	-5.68%	-1.72%	-3.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	2.36%	-0.13%

Volatility

FCID.TO vs. IDIV-B.TO - Volatility Comparison

The current volatility for Fidelity International High Dividend ETF (FCID.TO) is 3.93%, while Manulife Smart International Dividend ETF Unhedged Units (IDIV-B.TO) has a volatility of 5.14%. This indicates that FCID.TO experiences smaller price fluctuations and is considered to be less risky than IDIV-B.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCID.TO	IDIV-B.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.93%	5.14%	-1.21%
Volatility (6M) Calculated over the trailing 6-month period	10.44%	13.24%	-2.80%
Volatility (1Y) Calculated over the trailing 1-year period	12.65%	15.48%	-2.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.13%	14.06%	-0.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.74%	14.06%	+2.68%

FCID.TO vs. IDIV-B.TO - Expense Ratio Comparison

FCID.TO has a 0.45% expense ratio, which is lower than IDIV-B.TO's 0.55% expense ratio.

Dividends

FCID.TO vs. IDIV-B.TO - Dividend Comparison

FCID.TO's dividend yield for the trailing twelve months is around 3.39%, more than IDIV-B.TO's 2.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FCID.TO Fidelity International High Dividend ETF	3.39%	3.61%	4.16%	4.49%	5.08%	3.30%	3.78%	3.82%	0.44%
IDIV-B.TO Manulife Smart International Dividend ETF Unhedged Units	2.80%	3.02%	3.49%	1.73%	0.20%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FCID.TO and IDIV-B.TO in my portfolio?

FCID.TO and IDIV-B.TO have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FCID.TO or IDIV-B.TO?

On fees, FCID.TO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FCID.TO or IDIV-B.TO?

FCID.TO is cheaper with a 0.45% expense ratio, compared with 0.55% for IDIV-B.TO.

What is the main difference between FCID.TO and IDIV-B.TO?

They also come from different issuers: Fidelity and Manulife. Their fees differ too: 0.45% for FCID.TO and 0.55% for IDIV-B.TO.