FCLS.NEO vs. FINN.NEO
FCLS.NEO (Fidelity Canadian Long/Short Alternative ETF) and FINN.NEO (Fidelity Global Innovators ETF) are both exchange-traded funds - FCLS.NEO is a Long-Short fund actively managed by Fidelity, while FINN.NEO is a Technology Equities fund actively managed by Fidelity. Both are actively managed. Over the past year, FCLS.NEO returned 21.94% vs 74.08% for FINN.NEO. At a 0.39 correlation, their price movements are largely independent. FCLS.NEO charges 1.27%/yr vs 1.13%/yr for FINN.NEO.
Performance
FCLS.NEO vs. FINN.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, FCLS.NEO achieves a 7.98% return, which is significantly lower than FINN.NEO's 43.95% return.
FCLS.NEO
- 1D
- -1.46%
- 1M
- 4.64%
- YTD
- 7.98%
- 6M
- 9.15%
- 1Y
- 21.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FINN.NEO
- 1D
- 2.48%
- 1M
- 10.55%
- YTD
- 43.95%
- 6M
- 45.90%
- 1Y
- 74.08%
- 3Y*
- 46.25%
- 5Y*
- —
- 10Y*
- —
FCLS.NEO vs. FINN.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FCLS.NEO Fidelity Canadian Long/Short Alternative ETF | 7.98% | 18.33% | 17.30% |
FINN.NEO Fidelity Global Innovators ETF | 43.95% | 20.61% | 48.04% |
Correlation
The correlation between FCLS.NEO and FINN.NEO is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2024 | 0.39 |
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Return for Risk
FCLS.NEO vs. FINN.NEO — Risk / Return Rank
FCLS.NEO
FINN.NEO
FCLS.NEO vs. FINN.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Canadian Long/Short Alternative ETF (FCLS.NEO) and Fidelity Global Innovators ETF (FINN.NEO). 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.
| FCLS.NEO | FINN.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.66 | ||
| Sortino ratioReturn per unit of downside risk | -1.72 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.53 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 6.24 | -4.46 |
| Martin ratioReturn relative to average drawdown | 7.49 | 20.07 | -12.59 |
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Drawdowns
FCLS.NEO vs. FINN.NEO - Drawdown Comparison
The maximum FCLS.NEO drawdown since its inception was -14.39%, smaller than the maximum FINN.NEO drawdown of -25.66%. Use the drawdown chart below to compare losses from any high point for FCLS.NEO and FINN.NEO.
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Drawdown Indicators
| FCLS.NEO | FINN.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.39% | -25.66% | +11.27% |
Max Drawdown (1Y)Largest decline over 1 year | -12.39% | -11.94% | -0.45% |
Max Drawdown (3Y)Largest decline over 3 years | — | -25.66% | — |
Current DrawdownCurrent decline from peak | -1.46% | 0.00% | -1.46% |
Average DrawdownAverage peak-to-trough decline | -2.09% | -4.00% | +1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.94% | 3.70% | -0.76% |
Volatility
FCLS.NEO vs. FINN.NEO - Volatility Comparison
The current volatility for Fidelity Canadian Long/Short Alternative ETF (FCLS.NEO) is 6.95%, while Fidelity Global Innovators ETF (FINN.NEO) has a volatility of 11.91%. This indicates that FCLS.NEO experiences smaller price fluctuations and is considered to be less risky than FINN.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCLS.NEO | FINN.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.95% | 11.91% | -4.96% |
Volatility (6M)Calculated over the trailing 6-month period | 13.79% | 19.80% | -6.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.54% | 24.19% | -8.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.04% | 22.42% | -8.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.04% | 22.42% | -8.38% |
FCLS.NEO vs. FINN.NEO - Expense Ratio Comparison
FCLS.NEO has a 1.27% expense ratio, which is higher than FINN.NEO's 1.13% expense ratio.
Dividends
FCLS.NEO vs. FINN.NEO - Dividend Comparison
FCLS.NEO's dividend yield for the trailing twelve months is around 0.61%, while FINN.NEO has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
FCLS.NEO Fidelity Canadian Long/Short Alternative ETF | 0.61% | 0.65% |
FINN.NEO Fidelity Global Innovators ETF | 0.00% | 0.00% |
Frequently Asked Questions
FCLS.NEO and FINN.NEO have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FINN.NEO is cheaper at 1.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FINN.NEO is cheaper with a 1.13% expense ratio, compared with 1.27% for FCLS.NEO.
FCLS.NEO is categorized as Long-Short, while FINN.NEO is Technology Equities. Their fees differ too: 1.27% for FCLS.NEO and 1.13% for FINN.NEO.
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