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FCIN.NEO vs. ZEA.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FCIN.NEO vs. ZEA.TO

Last updated Jun 26, 2026

FCIN.NEO (Fidelity All-International Equity ETF) and ZEA.TO (BMO MSCI EAFE Index ETF) are both exchange-traded funds - FCIN.NEO is a Global Equities fund actively managed by Fidelity, while ZEA.TO is a Foreign Large Cap Equities fund tracking the MSCI EAFE Index. FCIN.NEO is actively managed, while ZEA.TO is passively managed. Over the past year, FCIN.NEO returned 27.42% vs 25.55% for ZEA.TO. Their correlation of 0.84 suggests significant overlap in exposure.

Performance

FCIN.NEO vs. ZEA.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity All-International Equity ETF (FCIN.NEO) and BMO MSCI EAFE Index ETF (ZEA.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FCIN.NEO achieves a 14.20% return, which is significantly higher than ZEA.TO's 12.80% return.

FCIN.NEO

1D
0.51%
1M
2.06%
YTD
14.20%
6M
13.85%
1Y
27.42%
3Y*
—
5Y*
—
10Y*
—

ZEA.TO

1D
0.61%
1M
2.20%
YTD
12.80%
6M
12.68%
1Y
25.55%
3Y*
19.60%
5Y*
11.51%
10Y*
11.06%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FCIN.NEO vs. ZEA.TO - Yearly Performance Comparison

2026 (YTD)20252024
FCIN.NEO
Fidelity All-International Equity ETF		14.20%27.93%11.47%
ZEA.TO
BMO MSCI EAFE Index ETF		12.80%24.92%10.48%

Correlation

The correlation between FCIN.NEO and ZEA.TO is 0.90, 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

0.90

Correlation (All Time)
Calculated using the full available price history since Feb 5, 2024

0.84

The correlation between FCIN.NEO and ZEA.TO has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.

FCIN.NEO vs. ZEA.TO - Sectors Allocation Comparison

Sectors
FCIN.NEO
ZEA.TO

Financial Services

27.9%
24.6%

Industrials

16.5%
19.5%

Technology

11.0%
10.8%

Communication Services

8.3%
4.8%

Consumer Cyclical

8.0%
7.6%

Consumer Defensive

6.6%
6.8%

Energy

5.7%
4.0%

Utilities

5.3%
3.7%

Real Estate

4.5%
1.8%

Healthcare

3.5%
10.4%

Basic Materials

2.9%
5.9%

Financial Services

FCIN.NEO
27.9%
ZEA.TO
24.6%

Industrials

FCIN.NEO
16.5%
ZEA.TO
19.5%

Technology

FCIN.NEO
11.0%
ZEA.TO
10.8%

Communication Services

FCIN.NEO
8.3%
ZEA.TO
4.8%

Consumer Cyclical

FCIN.NEO
8.0%
ZEA.TO
7.6%

Consumer Defensive

FCIN.NEO
6.6%
ZEA.TO
6.8%

Energy

FCIN.NEO
5.7%
ZEA.TO
4.0%

Utilities

FCIN.NEO
5.3%
ZEA.TO
3.7%

Real Estate

FCIN.NEO
4.5%
ZEA.TO
1.8%

Healthcare

FCIN.NEO
3.5%
ZEA.TO
10.4%

Basic Materials

FCIN.NEO
2.9%
ZEA.TO
5.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Fidelity All-International Equity ETF

BMO MSCI EAFE Index ETF

Often compared with FCIN.NEO:
FCIN.NEO vs. FCID.TOFCIN.NEO vs. XMY.TOFCIN.NEO vs. BGIE.TOFCIN.NEO vs. MEQT.TOFCIN.NEO vs. TINF.TOFCIN.NEO vs. CYH.TOFCIN.NEO vs. FBTC.TO
Often compared with ZEA.TO:
ZEA.TO vs. XEF.TOZEA.TO vs. XEQT.TOZEA.TO vs. VXC.TOZEA.TO vs. XAW.TOZEA.TO vs. IEFAZEA.TO vs. VDU.TOZEA.TO vs. ZSP.TO

Return for Risk

FCIN.NEO vs. ZEA.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FCIN.NEO
FCIN.NEO Risk / Return Rank: 6969
Overall Rank
FCIN.NEO Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
FCIN.NEO Sortino Ratio Rank: 6969
Sortino Ratio Rank
FCIN.NEO Omega Ratio Rank: 7070
Omega Ratio Rank
FCIN.NEO Calmar Ratio Rank: 6666
Calmar Ratio Rank
FCIN.NEO Martin Ratio Rank: 6969
Martin Ratio Rank
ZEA.TO
ZEA.TO Risk / Return Rank: 6060
Overall Rank
ZEA.TO Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
ZEA.TO Sortino Ratio Rank: 6363
Sortino Ratio Rank
ZEA.TO Omega Ratio Rank: 6464
Omega Ratio Rank
ZEA.TO Calmar Ratio Rank: 5555
Calmar Ratio Rank
ZEA.TO Martin Ratio Rank: 5959
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.

FCIN.NEO vs. ZEA.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity All-International Equity ETF (FCIN.NEO) and BMO MSCI EAFE Index ETF (ZEA.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.

FCIN.NEOZEA.TODifference
Sharpe ratioReturn per unit of total volatility
1.98
1.77

+0.21

Sortino ratioReturn per unit of downside risk
2.75
2.52

+0.23

Omega ratioGain probability vs. loss probability

1.36

1.33

+0.03

Calmar ratioReturn relative to maximum drawdown

2.88

2.35

+0.53

Martin ratioReturn relative to average drawdown

11.20

9.06

+2.14

FCIN.NEO vs. ZEA.TO - Sharpe Ratio Comparison

The current FCIN.NEO Sharpe Ratio is 1.98, which is comparable to the ZEA.TO Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of FCIN.NEO and ZEA.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.

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Drawdowns

FCIN.NEO vs. ZEA.TO - Drawdown Comparison

The maximum FCIN.NEO drawdown since its inception was -12.34%, smaller than the maximum ZEA.TO drawdown of -27.80%. Use the drawdown chart below to compare losses from any high point for FCIN.NEO and ZEA.TO.

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Drawdown Indicators

FCIN.NEOZEA.TODifference

Max Drawdown

Largest peak-to-trough decline

-12.34%

-27.80%

+15.46%

Max Drawdown (1Y)

Largest decline over 1 year

-9.56%

-10.91%

+1.35%

Max Drawdown (3Y)

Largest decline over 3 years

—

-14.11%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-23.66%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-27.80%

—

Current Drawdown

Current decline from peak

-1.25%

-1.50%

+0.25%

Average Drawdown

Average peak-to-trough decline

-1.54%

-4.61%

+3.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.45%

2.83%

-0.38%

Volatility

FCIN.NEO vs. ZEA.TO - Volatility Comparison

The current volatility for Fidelity All-International Equity ETF (FCIN.NEO) is 4.46%, while BMO MSCI EAFE Index ETF (ZEA.TO) has a volatility of 4.91%. This indicates that FCIN.NEO experiences smaller price fluctuations and is considered to be less risky than ZEA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FCIN.NEOZEA.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.46%

4.91%

-0.45%

Volatility (6M)

Calculated over the trailing 6-month period

11.94%

12.42%

-0.48%

Volatility (1Y)

Calculated over the trailing 1-year period

13.91%

14.49%

-0.58%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.35%

13.63%

+0.72%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.35%

14.78%

-0.43%

Dividends

FCIN.NEO vs. ZEA.TO - Dividend Comparison

FCIN.NEO's dividend yield for the trailing twelve months is around 1.12%, less than ZEA.TO's 1.89% yield.

PositionTTM20252024202320222021202020192018201720162015
FCIN.NEO
Fidelity All-International Equity ETF		1.12%1.28%1.51%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ZEA.TO
BMO MSCI EAFE Index ETF		1.89%2.17%2.78%3.02%3.08%2.49%2.74%2.95%3.05%2.40%2.80%2.43%

Frequently Asked Questions

With a correlation of 0.90, FCIN.NEO and ZEA.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

FCIN.NEO is categorized as Global Equities, while ZEA.TO is Foreign Large Cap Equities. They also come from different issuers: Fidelity and BMO.

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