FCIL.NEO vs. ZWE.TO
Compare and contrast key facts about Fidelity International Low Volatility ETF (FCIL.NEO) and BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE.TO).
FCIL.NEO and ZWE.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FCIL.NEO is a passively managed fund by Fidelity that tracks the performance of the Fidelity Canada International Low Volatility Index. It was launched on Jan 18, 2019. ZWE.TO is an actively managed fund by BMO. It was launched on Sep 2, 2015.
Performance
FCIL.NEO vs. ZWE.TO - Performance Comparison
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FCIL.NEO vs. ZWE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FCIL.NEO Fidelity International Low Volatility ETF | 5.42% | 19.10% | 7.89% | 11.49% | -6.83% | 7.63% | -0.78% | 11.33% |
ZWE.TO BMO Europe High Dividend Covered Call Hedged to CAD ETF | -0.59% | 14.25% | 7.16% | 14.84% | 0.29% | 19.26% | -8.67% | 16.71% |
Returns By Period
In the year-to-date period, FCIL.NEO achieves a 5.42% return, which is significantly higher than ZWE.TO's -0.59% return.
FCIL.NEO
- 1D
- 2.54%
- 1M
- -5.04%
- YTD
- 5.42%
- 6M
- 9.41%
- 1Y
- 15.60%
- 3Y*
- 12.62%
- 5Y*
- 9.03%
- 10Y*
- —
ZWE.TO
- 1D
- 2.38%
- 1M
- -5.74%
- YTD
- -0.59%
- 6M
- 4.72%
- 1Y
- 7.56%
- 3Y*
- 9.13%
- 5Y*
- 9.12%
- 10Y*
- 8.24%
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FCIL.NEO vs. ZWE.TO - Expense Ratio Comparison
FCIL.NEO has a 0.45% expense ratio, which is lower than ZWE.TO's 0.65% expense ratio.
Return for Risk
FCIL.NEO vs. ZWE.TO — Risk / Return Rank
FCIL.NEO
ZWE.TO
FCIL.NEO vs. ZWE.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity International Low Volatility ETF (FCIL.NEO) and BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE.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.
| FCIL.NEO | ZWE.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.98 | 0.52 | +0.46 |
Sortino ratioReturn per unit of downside risk | 1.46 | 0.77 | +0.69 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.11 | +0.10 |
Calmar ratioReturn relative to maximum drawdown | 1.67 | 0.59 | +1.08 |
Martin ratioReturn relative to average drawdown | 4.57 | 1.98 | +2.59 |
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
| FCIL.NEO | ZWE.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.98 | 0.52 | +0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 0.74 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.54 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.47 | +0.08 |
Correlation
The correlation between FCIL.NEO and ZWE.TO is 0.30, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FCIL.NEO vs. ZWE.TO - Dividend Comparison
FCIL.NEO has not paid dividends to shareholders, while ZWE.TO's dividend yield for the trailing twelve months is around 6.97%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCIL.NEO Fidelity International Low Volatility ETF | 0.00% | 0.00% | 0.00% | 1.94% | 2.44% | 2.53% | 3.78% | 2.15% | 0.00% | 0.00% | 0.00% | 0.00% |
ZWE.TO BMO Europe High Dividend Covered Call Hedged to CAD ETF | 6.97% | 6.81% | 7.25% | 7.25% | 6.98% | 6.30% | 7.74% | 6.53% | 7.59% | 6.49% | 6.76% | 2.32% |
Drawdowns
FCIL.NEO vs. ZWE.TO - Drawdown Comparison
The maximum FCIL.NEO drawdown since its inception was -20.28%, smaller than the maximum ZWE.TO drawdown of -35.38%. Use the drawdown chart below to compare losses from any high point for FCIL.NEO and ZWE.TO.
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Drawdown Indicators
| FCIL.NEO | ZWE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.28% | -35.38% | +15.10% |
Max Drawdown (1Y)Largest decline over 1 year | -9.17% | -9.65% | +0.48% |
Max Drawdown (5Y)Largest decline over 5 years | -20.28% | -13.60% | -6.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.38% | — |
Current DrawdownCurrent decline from peak | -5.04% | -6.20% | +1.16% |
Average DrawdownAverage peak-to-trough decline | -4.53% | -4.16% | -0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | 2.90% | +0.46% |
Volatility
FCIL.NEO vs. ZWE.TO - Volatility Comparison
Fidelity International Low Volatility ETF (FCIL.NEO) and BMO Europe High Dividend Covered Call Hedged to CAD ETF (ZWE.TO) have volatilities of 6.33% and 6.28%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCIL.NEO | ZWE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.33% | 6.28% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 9.52% | 8.53% | +0.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.99% | 14.64% | +1.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.79% | 12.48% | +0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.65% | 15.47% | -1.82% |