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

FCMO.NEO vs. FCMI.TO

Last updated Jul 16, 2026
Documentation

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

Performance

FCMO.NEO vs. FCMI.TO - Performance Comparison

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

Loading charts...

Returns By Period

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

FCMO.NEO

1D
-0.65%
1M
-1.58%
6M
15.32%
YTD
20.14%
1Y
29.41%
3Y*
31.97%
5Y*
17.92%
10Y*
—

FCMI.TO

1D
0.00%
1M
0.07%
6M
7.41%
YTD
9.25%
1Y
19.31%
3Y*
13.93%
5Y*
8.04%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

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

Correlation

The correlation between FCMO.NEO and FCMI.TO 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 US Momentum ETF

Fidelity Canadian Monthly High Income 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. FINN.NEOFCMO.NEO vs. FCCV.TO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
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
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
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.

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

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

FCMO.NEOFCMI.TODifference
Sharpe ratioReturn per unit of total volatility
1.48
3.03

-1.56

Sortino ratioReturn per unit of downside risk
2.11
4.75

-2.64

Omega ratioGain probability vs. loss probability

1.28

1.80

-0.52

Calmar ratioReturn relative to maximum drawdown

2.71

5.36

-2.66

Martin ratioReturn relative to average drawdown

9.01

20.61

-11.59

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

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

FCMO.NEO vs. FCMI.TO - Drawdown Comparison

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

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Drawdown Indicators

FCMO.NEOFCMI.TODifference

Max Drawdown

Largest peak-to-trough decline

-67.39%

-63.80%

-3.59%

Max Drawdown (1Y)

Largest decline over 1 year

-10.91%

-3.62%

-7.29%

Max Drawdown (3Y)

Largest decline over 3 years

-21.82%

-6.63%

-15.19%

Max Drawdown (5Y)

Largest decline over 5 years

-26.93%

-10.00%

-16.93%

Current Drawdown

Current decline from peak

-8.56%

-18.96%

+10.40%

Average Drawdown

Average peak-to-trough decline

-48.77%

-41.60%

-7.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.27%

0.94%

+2.33%

Volatility

FCMO.NEO vs. FCMI.TO - Volatility Comparison

Fidelity US Momentum ETF (FCMO.NEO) has a higher volatility of 5.56% compared to Fidelity Canadian Monthly High Income ETF (FCMI.TO) at 2.10%. This indicates that FCMO.NEO's price experiences larger fluctuations and is considered to be riskier than FCMI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FCMO.NEOFCMI.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.56%

2.10%

+3.46%

Volatility (6M)

Calculated over the trailing 6-month period

16.89%

4.99%

+11.90%

Volatility (1Y)

Calculated over the trailing 1-year period

19.99%

6.39%

+13.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.36%

7.80%

+10.56%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

32.59%

22.20%

+10.39%

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

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

Dividends

FCMO.NEO vs. FCMI.TO - Dividend Comparison

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

FCMO.NEO and FCMI.TO 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.

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

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