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FCMI.TO vs. FCMO.NEO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FCMI.TO vs. FCMO.NEO

Last updated Jul 16, 2026
Documentation

FCMI.TO (Fidelity Canadian Monthly High Income ETF) and FCMO.NEO (Fidelity US Momentum ETF) are both exchange-traded funds - FCMI.TO is a Canada Equities fund actively managed by Fidelity, while FCMO.NEO is a Momentum fund tracking the Fidelity Canada U.S. Momentum Index. FCMI.TO is actively managed, while FCMO.NEO is passively managed. Over the past 5 years, FCMI.TO returned 8.04%/yr vs 17.92%/yr for FCMO.NEO. At a 0.10 correlation, their price movements are largely independent. FCMI.TO charges 0.50%/yr vs 0.38%/yr for FCMO.NEO.

Performance

FCMI.TO vs. FCMO.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity Canadian Monthly High Income ETF (FCMI.TO) and Fidelity US Momentum ETF (FCMO.NEO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FCMI.TO achieves a 9.25% return, which is significantly lower than FCMO.NEO's 20.14% return.

FCMI.TO

1D
0.00%
1M
0.07%
6M
7.41%
YTD
9.25%
1Y
19.31%
3Y*
13.93%
5Y*
8.04%
10Y*
—

FCMO.NEO

1D
-0.65%
1M
-1.58%
6M
15.32%
YTD
20.14%
1Y
29.41%
3Y*
31.97%
5Y*
17.92%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

FCMI.TO vs. FCMO.NEO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
FCMI.TO
Fidelity Canadian Monthly High Income ETF		9.25%15.02%13.11%5.49%-5.32%15.26%13.07%
FCMO.NEO
Fidelity US Momentum ETF		20.14%13.77%53.26%13.09%-14.21%16.13%-61.16%

Correlation

The correlation between FCMI.TO and FCMO.NEO is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.11

Correlation (3Y)
Calculated over the trailing 3-year period

0.13

Correlation (5Y)
Calculated over the trailing 5-year period

0.12

Correlation (All Time)
Calculated using the full available price history since Jun 5, 2020

0.10

Compare stocks, funds, or ETFs

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

Fidelity Canadian Monthly High Income ETF

Fidelity US Momentum ETF

Often compared with FCMO.NEO:
FCMO.NEO vs. SPMOFCMO.NEO vs. VFV.TOFCMO.NEO vs. VMO.TOFCMO.NEO vs. FCUV.TOFCMO.NEO vs. FDMOFCMO.NEO vs. FGEP.TOFCMO.NEO vs. FINN.NEO

Return for Risk

FCMI.TO vs. FCMO.NEO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FCMI.TO
FCMI.TO Risk / Return Rank: 9595
Overall Rank
FCMI.TO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
FCMI.TO Sortino Ratio Rank: 9696
Sortino Ratio Rank
FCMI.TO Omega Ratio Rank: 9797
Omega Ratio Rank
FCMI.TO Calmar Ratio Rank: 9494
Calmar Ratio Rank
FCMI.TO Martin Ratio Rank: 9494
Martin Ratio Rank
FCMO.NEO
FCMO.NEO Risk / Return Rank: 5858
Overall Rank
FCMO.NEO Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
FCMO.NEO Sortino Ratio Rank: 5353
Sortino Ratio Rank
FCMO.NEO Omega Ratio Rank: 5555
Omega Ratio Rank
FCMO.NEO Calmar Ratio Rank: 6767
Calmar Ratio Rank
FCMO.NEO 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.

FCMI.TO vs. FCMO.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Canadian Monthly High Income ETF (FCMI.TO) and Fidelity US Momentum ETF (FCMO.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.

FCMI.TOFCMO.NEODifference
Sharpe ratioReturn per unit of total volatility
3.03
1.48

+1.56

Sortino ratioReturn per unit of downside risk
4.75
2.11

+2.64

Omega ratioGain probability vs. loss probability

1.80

1.28

+0.52

Calmar ratioReturn relative to maximum drawdown

5.36

2.71

+2.66

Martin ratioReturn relative to average drawdown

20.61

9.01

+11.59

FCMI.TO vs. FCMO.NEO - Sharpe Ratio Comparison

The current FCMI.TO Sharpe Ratio is 3.03, which is higher than the FCMO.NEO Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of FCMI.TO and FCMO.NEO, 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

FCMI.TO vs. FCMO.NEO - Drawdown Comparison

The maximum FCMI.TO drawdown since its inception was -63.80%, smaller than the maximum FCMO.NEO drawdown of -67.39%. Use the drawdown chart below to compare losses from any high point for FCMI.TO and FCMO.NEO.

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Drawdown Indicators

FCMI.TOFCMO.NEODifference

Max Drawdown

Largest peak-to-trough decline

-63.80%

-67.39%

+3.59%

Max Drawdown (1Y)

Largest decline over 1 year

-3.62%

-10.91%

+7.29%

Max Drawdown (3Y)

Largest decline over 3 years

-6.63%

-21.82%

+15.19%

Max Drawdown (5Y)

Largest decline over 5 years

-10.00%

-26.93%

+16.93%

Current Drawdown

Current decline from peak

-18.96%

-8.56%

-10.40%

Average Drawdown

Average peak-to-trough decline

-41.60%

-48.77%

+7.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.94%

3.27%

-2.33%

Volatility

FCMI.TO vs. FCMO.NEO - Volatility Comparison

The current volatility for Fidelity Canadian Monthly High Income ETF (FCMI.TO) is 2.10%, while Fidelity US Momentum ETF (FCMO.NEO) has a volatility of 5.56%. This indicates that FCMI.TO experiences smaller price fluctuations and is considered to be less risky than FCMO.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FCMI.TOFCMO.NEODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.10%

5.56%

-3.46%

Volatility (6M)

Calculated over the trailing 6-month period

4.99%

16.89%

-11.90%

Volatility (1Y)

Calculated over the trailing 1-year period

6.39%

19.99%

-13.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.80%

18.36%

-10.56%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.20%

32.59%

-10.39%

FCMI.TO vs. FCMO.NEO - Expense Ratio Comparison

FCMI.TO has a 0.50% expense ratio, which is higher than FCMO.NEO's 0.38% expense ratio.

Dividends

FCMI.TO vs. FCMO.NEO - Dividend Comparison

FCMI.TO's dividend yield for the trailing twelve months is around 3.28%, more than FCMO.NEO's 0.30% yield.

PositionTTM202520242023202220212020
FCMI.TO
Fidelity Canadian Monthly High Income ETF		3.28%3.38%3.63%4.09%3.73%2.76%6.22%
FCMO.NEO
Fidelity US Momentum ETF		0.30%0.36%0.25%0.00%0.00%0.00%0.28%

Frequently Asked Questions

FCMI.TO and FCMO.NEO have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, FCMO.NEO is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

FCMO.NEO is cheaper with a 0.38% expense ratio, compared with 0.50% for FCMI.TO.

FCMI.TO is categorized as Canada Equities, while FCMO.NEO is Momentum. Their fees differ too: 0.50% for FCMI.TO and 0.38% for FCMO.NEO.

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