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FCIV.TO vs. QDX.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FCIV.TO vs. QDX.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity International Value ETF (FCIV.TO) and Mackenzie International Equity Index ETF (QDX.TO).

FCIV.TO and QDX.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FCIV.TO is a passively managed fund by Fidelity that tracks the performance of the Fidelity Canada International Value Index. It was launched on Jun 3, 2025. QDX.TO is a passively managed fund by Mackenzie that tracks the performance of the Solactive GBS Developed Markets ex North America Large & Mid Cap CAD Index. It was launched on Jan 24, 2018. Both FCIV.TO and QDX.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

FCIV.TO vs. QDX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity International Value ETF (FCIV.TO) and Mackenzie International Equity Index ETF (QDX.TO). The values are adjusted to include any dividend payments, if applicable.

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FCIV.TO vs. QDX.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
FCIV.TO
Fidelity International Value ETF		10.05%33.59%6.89%22.74%-0.22%14.15%5.34%
QDX.TO
Mackenzie International Equity Index ETF		2.63%25.29%12.93%13.66%-8.61%11.24%10.90%

Returns By Period

In the year-to-date period, FCIV.TO achieves a 10.05% return, which is significantly higher than QDX.TO's 2.63% return.

FCIV.TO

1D
2.69%
1M
-2.93%
YTD
10.05%
6M
13.24%
1Y
30.28%
3Y*
21.15%
5Y*
15.05%
10Y*
—

QDX.TO

1D
3.07%
1M
-5.76%
YTD
2.63%
6M
5.86%
1Y
19.56%
3Y*
15.55%
5Y*
10.13%
10Y*
—
*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 International Value ETF

Mackenzie International Equity Index ETF

Often compared with FCIV.TO:
FCIV.TO vs. VI.TOFCIV.TO vs. FCIM.NEOFCIV.TO vs. FCID.TOFCIV.TO vs. VIDY.TOFCIV.TO vs. VIU.TOFCIV.TO vs. XFN.TOFCIV.TO vs. VDU.TO
Often compared with QDX.TO:
QDX.TO vs. XMV.TOQDX.TO vs. TILV.TOQDX.TO vs. VIU.TOQDX.TO vs. QDXH.TOQDX.TO vs. QTIP.NEOQDX.TO vs. QQQQ.TOQDX.TO vs. XEF.TO

FCIV.TO vs. QDX.TO - Expense Ratio Comparison

FCIV.TO has a 0.45% expense ratio, which is higher than QDX.TO's 0.17% expense ratio.

FCIV.TO
Fidelity International Value ETF
QDX.TO
Mackenzie International Equity Index ETF

Return for Risk

FCIV.TO vs. QDX.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FCIV.TO
FCIV.TO Risk / Return Rank: 8585
Overall Rank
FCIV.TO Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
FCIV.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
FCIV.TO Omega Ratio Rank: 8585
Omega Ratio Rank
FCIV.TO Calmar Ratio Rank: 8181
Calmar Ratio Rank
FCIV.TO Martin Ratio Rank: 8787
Martin Ratio Rank
QDX.TO
QDX.TO Risk / Return Rank: 6464
Overall Rank
QDX.TO Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
QDX.TO Sortino Ratio Rank: 6565
Sortino Ratio Rank
QDX.TO Omega Ratio Rank: 6363
Omega Ratio Rank
QDX.TO Calmar Ratio Rank: 6565
Calmar Ratio Rank
QDX.TO Martin Ratio Rank: 6363
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.

FCIV.TO vs. QDX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity International Value ETF (FCIV.TO) and Mackenzie International Equity Index ETF (QDX.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.

FCIV.TOQDX.TODifference

Sharpe ratio

Return per unit of total volatility

1.70

1.16

+0.54

Sortino ratio

Return per unit of downside risk

2.23

1.68

+0.55

Omega ratio

Gain probability vs. loss probability

1.34

1.24

+0.10

Calmar ratio

Return relative to maximum drawdown

2.25

1.68

+0.56

Martin ratio

Return relative to average drawdown

10.57

6.49

+4.08

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

FCIV.TO vs. QDX.TO - Sharpe Ratio Comparison

The current FCIV.TO Sharpe Ratio is 1.70, which is higher than the QDX.TO Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of FCIV.TO and QDX.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

FCIV.TOQDX.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.70

1.16

+0.54

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.00

0.74

+0.26

Sharpe Ratio (All Time)

Calculated using the full available price history

1.00

0.51

+0.49

Correlation

The correlation between FCIV.TO and QDX.TO is 0.63, 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

FCIV.TO vs. QDX.TO - Dividend Comparison

FCIV.TO's dividend yield for the trailing twelve months is around 1.89%, less than QDX.TO's 2.82% yield.

TTM20252024202320222021202020192018
FCIV.TO
Fidelity International Value ETF		1.89%2.08%2.80%3.63%3.45%2.97%0.90%0.00%0.00%
QDX.TO
Mackenzie International Equity Index ETF		2.82%2.51%2.48%2.61%2.73%2.25%1.91%2.76%3.03%

Drawdowns

FCIV.TO vs. QDX.TO - Drawdown Comparison

The maximum FCIV.TO drawdown since its inception was -24.27%, smaller than the maximum QDX.TO drawdown of -28.08%. Use the drawdown chart below to compare losses from any high point for FCIV.TO and QDX.TO.

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Drawdown Indicators

FCIV.TOQDX.TODifference

Max Drawdown

Largest peak-to-trough decline

-24.27%

-28.08%

+3.81%

Max Drawdown (1Y)

Largest decline over 1 year

-13.14%

-11.30%

-1.84%

Max Drawdown (5Y)

Largest decline over 5 years

-24.27%

-23.00%

-1.27%

Current Drawdown

Current decline from peak

-3.45%

-6.59%

+3.14%

Average Drawdown

Average peak-to-trough decline

-4.11%

-4.59%

+0.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.84%

2.93%

-0.09%

Volatility

FCIV.TO vs. QDX.TO - Volatility Comparison

The current volatility for Fidelity International Value ETF (FCIV.TO) is 6.93%, while Mackenzie International Equity Index ETF (QDX.TO) has a volatility of 7.54%. This indicates that FCIV.TO experiences smaller price fluctuations and is considered to be less risky than QDX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FCIV.TOQDX.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.93%

7.54%

-0.61%

Volatility (6M)

Calculated over the trailing 6-month period

11.72%

10.85%

+0.87%

Volatility (1Y)

Calculated over the trailing 1-year period

17.88%

16.94%

+0.94%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.15%

13.72%

+1.43%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.59%

15.43%

+0.16%