FCMI.TO vs. HXCN.TO
FCMI.TO (Fidelity Canadian Monthly High Income ETF) and HXCN.TO (Global X S&P/TSX Capped Composite Index Corporate Class ETF) are both Canada Equities funds. FCMI.TO is actively managed, while HXCN.TO is passively managed. Over the past 5 years, FCMI.TO returned 8.04%/yr vs 15.27%/yr for HXCN.TO. At a 0.20 correlation, their price movements are largely independent. FCMI.TO charges 0.50%/yr vs 0.05%/yr for HXCN.TO.
Performance
FCMI.TO vs. HXCN.TO - Performance Comparison
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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 HXCN.TO's 12.83% 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*
- —
HXCN.TO
- 1D
- 0.25%
- 1M
- 0.37%
- 6M
- 8.60%
- YTD
- 12.83%
- 1Y
- 33.59%
- 3Y*
- 23.69%
- 5Y*
- 15.27%
- 10Y*
- —
FCMI.TO vs. HXCN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FCMI.TO Fidelity Canadian Monthly High Income ETF | 9.25% | 15.02% | 13.11% | 5.49% | -5.32% | 15.26% | -1.13% |
HXCN.TO Global X S&P/TSX Capped Composite Index Corporate Class ETF | 12.83% | 31.20% | 21.60% | 11.98% | -6.07% | 25.23% | 1.60% |
Correlation
The correlation between FCMI.TO and HXCN.TO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2020 | 0.20 |
The correlation between FCMI.TO and HXCN.TO shifts across timeframes, from 0.20 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FCMI.TO vs. HXCN.TO — Risk / Return Rank
FCMI.TO
HXCN.TO
FCMI.TO vs. HXCN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Canadian Monthly High Income ETF (FCMI.TO) and Global X S&P/TSX Capped Composite Index Corporate Class ETF (HXCN.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.
| FCMI.TO | HXCN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.80 | 1.46 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 5.36 | 3.83 | +1.53 |
| Martin ratioReturn relative to average drawdown | 20.61 | 16.49 | +4.11 |
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Drawdowns
FCMI.TO vs. HXCN.TO - Drawdown Comparison
The maximum FCMI.TO drawdown since its inception was -63.80%, which is greater than HXCN.TO's maximum drawdown of -37.09%. Use the drawdown chart below to compare losses from any high point for FCMI.TO and HXCN.TO.
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Drawdown Indicators
| FCMI.TO | HXCN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.80% | -37.09% | -26.71% |
Max Drawdown (1Y)Largest decline over 1 year | -3.62% | -8.81% | +5.19% |
Max Drawdown (3Y)Largest decline over 3 years | -6.63% | -12.49% | +5.86% |
Max Drawdown (5Y)Largest decline over 5 years | -10.00% | -16.27% | +6.27% |
Current DrawdownCurrent decline from peak | -18.96% | 0.00% | -18.96% |
Average DrawdownAverage peak-to-trough decline | -41.60% | -4.05% | -37.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 2.04% | -1.10% |
Volatility
FCMI.TO vs. HXCN.TO - Volatility Comparison
The current volatility for Fidelity Canadian Monthly High Income ETF (FCMI.TO) is 2.10%, while Global X S&P/TSX Capped Composite Index Corporate Class ETF (HXCN.TO) has a volatility of 2.89%. This indicates that FCMI.TO experiences smaller price fluctuations and is considered to be less risky than HXCN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCMI.TO | HXCN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.10% | 2.89% | -0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 4.99% | 10.35% | -5.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.39% | 13.03% | -6.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.80% | 13.81% | -6.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.20% | 17.72% | +4.48% |
FCMI.TO vs. HXCN.TO - Expense Ratio Comparison
FCMI.TO has a 0.50% expense ratio, which is higher than HXCN.TO's 0.05% expense ratio.
Dividends
FCMI.TO vs. HXCN.TO - Dividend Comparison
FCMI.TO's dividend yield for the trailing twelve months is around 3.28%, while HXCN.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FCMI.TO Fidelity Canadian Monthly High Income ETF | 3.28% | 3.38% | 3.63% | 4.09% | 3.73% | 2.76% | 6.22% |
HXCN.TO Global X S&P/TSX Capped Composite Index Corporate Class ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FCMI.TO and HXCN.TO have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HXCN.TO is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HXCN.TO is cheaper with a 0.05% expense ratio, compared with 0.50% for FCMI.TO.
They also come from different issuers: Fidelity and Global X. Their fees differ too: 0.50% for FCMI.TO and 0.05% for HXCN.TO.
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