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FCIM.NEO vs. XEF.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FCIM.NEO vs. XEF.TO

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity International Momentum Index ETF (FCIM.NEO) and iShares Core MSCI EAFE IMI Index ETF (XEF.TO).

FCIM.NEO and XEF.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FCIM.NEO is a passively managed fund by Fidelity that tracks the performance of the Fidelity Canada International Momentum Index. It was launched on Jun 5, 2020. XEF.TO is a passively managed fund by iShares that tracks the performance of the Morningstar DM xNA GR CAD. It was launched on Apr 10, 2013. Both FCIM.NEO and XEF.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FCIM.NEO vs. XEF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity International Momentum Index ETF (FCIM.NEO) and iShares Core MSCI EAFE IMI Index ETF (XEF.TO). The values are adjusted to include any dividend payments, if applicable.

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FCIM.NEO vs. XEF.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
FCIM.NEO
Fidelity International Momentum Index ETF		10.28%37.03%25.38%16.54%-12.40%10.86%-60.82%
XEF.TO
iShares Core MSCI EAFE IMI Index ETF		3.89%25.69%12.04%15.21%-9.53%10.36%11.58%

Returns By Period

In the year-to-date period, FCIM.NEO achieves a 10.28% return, which is significantly higher than XEF.TO's 3.89% return.

FCIM.NEO

1D
2.36%
1M
-4.12%
YTD
10.28%
6M
16.95%
1Y
36.16%
3Y*
27.46%
5Y*
16.80%
10Y*
—

XEF.TO

1D
1.56%
1M
-3.22%
YTD
3.89%
6M
6.14%
1Y
21.90%
3Y*
15.95%
5Y*
10.17%
10Y*
9.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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Fidelity International Momentum Index ETF

iShares Core MSCI EAFE IMI Index ETF

Often compared with FCIM.NEO:
FCIM.NEO vs. EBNK.TOFCIM.NEO vs. VXM.TOFCIM.NEO vs. VCN.TOFCIM.NEO vs. FCIV.TOFCIM.NEO vs. FCCM.NEOFCIM.NEO vs. JIVEFCIM.NEO vs. SPMO
Often compared with XEF.TO:
XEF.TO vs. XEC.TOXEF.TO vs. VIU.TOXEF.TO vs. ZEA.TOXEF.TO vs. XFH.TOXEF.TO vs. IEFAXEF.TO vs. XIC.TOXEF.TO vs. XEF-U.TO

FCIM.NEO vs. XEF.TO - Expense Ratio Comparison

FCIM.NEO has a 0.45% expense ratio, which is higher than XEF.TO's 0.22% expense ratio.

FCIM.NEO
Fidelity International Momentum Index ETF
XEF.TO
iShares Core MSCI EAFE IMI Index ETF

Return for Risk

FCIM.NEO vs. XEF.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FCIM.NEO
FCIM.NEO Risk / Return Rank: 8787
Overall Rank
FCIM.NEO Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
FCIM.NEO Sortino Ratio Rank: 9292
Sortino Ratio Rank
FCIM.NEO Omega Ratio Rank: 8989
Omega Ratio Rank
FCIM.NEO Calmar Ratio Rank: 8484
Calmar Ratio Rank
FCIM.NEO Martin Ratio Rank: 8484
Martin Ratio Rank
XEF.TO
XEF.TO Risk / Return Rank: 7171
Overall Rank
XEF.TO Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
XEF.TO Sortino Ratio Rank: 7272
Sortino Ratio Rank
XEF.TO Omega Ratio Rank: 7272
Omega Ratio Rank
XEF.TO Calmar Ratio Rank: 7272
Calmar Ratio Rank
XEF.TO Martin Ratio Rank: 6969
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.

FCIM.NEO vs. XEF.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity International Momentum Index ETF (FCIM.NEO) and iShares Core MSCI EAFE IMI Index ETF (XEF.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.

FCIM.NEOXEF.TODifference

Sharpe ratio

Return per unit of total volatility

2.00

1.34

+0.66

Sortino ratio

Return per unit of downside risk

2.80

1.86

+0.94

Omega ratio

Gain probability vs. loss probability

1.38

1.27

+0.11

Calmar ratio

Return relative to maximum drawdown

2.67

1.91

+0.77

Martin ratio

Return relative to average drawdown

10.36

7.22

+3.15

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

FCIM.NEO vs. XEF.TO - Sharpe Ratio Comparison

The current FCIM.NEO Sharpe Ratio is 2.00, which is higher than the XEF.TO Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of FCIM.NEO and XEF.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

FCIM.NEOXEF.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.00

1.34

+0.66

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.02

0.76

+0.25

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.65

—

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.09

0.68

-0.78

Correlation

The correlation between FCIM.NEO and XEF.TO is 0.70, 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

FCIM.NEO vs. XEF.TO - Dividend Comparison

FCIM.NEO's dividend yield for the trailing twelve months is around 1.44%, less than XEF.TO's 2.34% yield.

TTM20252024202320222021202020192018201720162015
FCIM.NEO
Fidelity International Momentum Index ETF		1.44%1.59%1.26%1.70%1.86%2.70%0.52%0.00%0.00%0.00%0.00%0.00%
XEF.TO
iShares Core MSCI EAFE IMI Index ETF		2.34%2.43%2.76%2.75%2.93%2.42%1.93%2.72%2.76%2.10%2.42%2.42%

Drawdowns

FCIM.NEO vs. XEF.TO - Drawdown Comparison

The maximum FCIM.NEO drawdown since its inception was -67.91%, which is greater than XEF.TO's maximum drawdown of -28.51%. Use the drawdown chart below to compare losses from any high point for FCIM.NEO and XEF.TO.

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Drawdown Indicators

FCIM.NEOXEF.TODifference

Max Drawdown

Largest peak-to-trough decline

-67.91%

-28.51%

-39.40%

Max Drawdown (1Y)

Largest decline over 1 year

-13.21%

-11.28%

-1.93%

Max Drawdown (5Y)

Largest decline over 5 years

-26.89%

-24.58%

-2.31%

Max Drawdown (10Y)

Largest decline over 10 years

—

-28.51%

—

Current Drawdown

Current decline from peak

-16.60%

-5.37%

-11.23%

Average Drawdown

Average peak-to-trough decline

-52.32%

-4.64%

-47.68%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.41%

2.98%

+0.43%

Volatility

FCIM.NEO vs. XEF.TO - Volatility Comparison

Fidelity International Momentum Index ETF (FCIM.NEO) has a higher volatility of 8.65% compared to iShares Core MSCI EAFE IMI Index ETF (XEF.TO) at 7.13%. This indicates that FCIM.NEO's price experiences larger fluctuations and is considered to be riskier than XEF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FCIM.NEOXEF.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

8.65%

7.13%

+1.52%

Volatility (6M)

Calculated over the trailing 6-month period

12.35%

10.49%

+1.86%

Volatility (1Y)

Calculated over the trailing 1-year period

18.20%

16.46%

+1.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.63%

13.38%

+3.25%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

32.30%

14.76%

+17.54%