FCMO.NEO vs. FCSB.NEO

Last updated Jul 16, 2026

FCMO.NEO (Fidelity US Momentum ETF) and FCSB.NEO (Fidelity Canadian Short Term Corporate Bond ETF) are both exchange-traded funds - FCMO.NEO is a Momentum fund tracking the Fidelity Canada U.S. Momentum Index, while FCSB.NEO is a Corporate Bonds fund tracking the FTSE Canada Short Term Corporate Bond 5% Capped Index. Both are passively managed. Over the past 5 years, FCMO.NEO returned 17.92%/yr vs 2.92%/yr for FCSB.NEO. At a 0.06 correlation, their price movements are largely independent. FCMO.NEO charges 0.38%/yr vs 0.44%/yr for FCSB.NEO.

Performance

FCMO.NEO vs. FCSB.NEO - 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 Short Term Corporate Bond ETF (FCSB.NEO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCMO.NEO achieves a 20.14% return, which is significantly higher than FCSB.NEO's 1.49% 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*: —

FCSB.NEO

• 1D: -0.04%
• 1M: -0.04%
• 6M: 0.94%
• YTD: 1.49%
• 1Y: 3.74%
• 3Y*: 5.98%
• 5Y*: 2.92%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FCMO.NEO vs. FCSB.NEO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FCMO.NEO Fidelity US Momentum ETF	20.14%	13.77%	53.26%	13.09%	-14.21%	16.13%	-61.16%
FCSB.NEO Fidelity Canadian Short Term Corporate Bond ETF	1.49%	4.15%	7.55%	6.81%	-4.22%	-0.81%	4.09%

Correlation

The correlation between FCMO.NEO and FCSB.NEO is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (All Time) Calculated using the full available price history since Jun 5, 2020	0.06

Return for Risk

FCMO.NEO vs. FCSB.NEO — 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: 58
FCMO.NEO Sharpe Ratio Rank: 53
FCMO.NEO Sortino Ratio Rank: 53
FCMO.NEO Omega Ratio Rank: 55
FCMO.NEO Calmar Ratio Rank: 67
FCMO.NEO Martin Ratio Rank: 63

FCSB.NEO

FCSB.NEO Risk / Return Rank: 51
FCSB.NEO Sharpe Ratio Rank: 45
FCSB.NEO Sortino Ratio Rank: 47
FCSB.NEO Omega Ratio Rank: 46
FCSB.NEO Calmar Ratio Rank: 58
FCSB.NEO Martin Ratio Rank: 60

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. FCSB.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity US Momentum ETF (FCMO.NEO) and Fidelity Canadian Short Term Corporate Bond ETF (FCSB.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.

	FCMO.NEO	FCSB.NEO	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.33	+0.14
Sortino ratio: Return per unit of downside risk	2.11	1.98	+0.13
Omega ratio: Gain probability vs. loss probability	1.28	1.25	+0.03
Calmar ratio: Return relative to maximum drawdown	2.71	2.37	+0.33
Martin ratio: Return relative to average drawdown	9.01	8.66	+0.36

FCMO.NEO vs. FCSB.NEO - Sharpe Ratio Comparison

The current FCMO.NEO Sharpe Ratio is 1.48, which is comparable to the FCSB.NEO Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of FCMO.NEO and FCSB.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.

Drawdowns

FCMO.NEO vs. FCSB.NEO - Drawdown Comparison

The maximum FCMO.NEO drawdown since its inception was -67.39%, which is greater than FCSB.NEO's maximum drawdown of -12.48%. Use the drawdown chart below to compare losses from any high point for FCMO.NEO and FCSB.NEO.

Drawdown Indicators

	FCMO.NEO	FCSB.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-67.39%	-12.48%	-54.91%
Max Drawdown (1Y) Largest decline over 1 year	-10.91%	-1.58%	-9.33%
Max Drawdown (3Y) Largest decline over 3 years	-21.82%	-1.58%	-20.24%
Max Drawdown (5Y) Largest decline over 5 years	-26.93%	-7.44%	-19.49%
Current Drawdown Current decline from peak	-8.56%	-0.51%	-8.05%
Average Drawdown Average peak-to-trough decline	-48.77%	-1.48%	-47.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.27%	0.43%	+2.84%

Volatility

FCMO.NEO vs. FCSB.NEO - Volatility Comparison

Fidelity US Momentum ETF (FCMO.NEO) has a higher volatility of 5.56% compared to Fidelity Canadian Short Term Corporate Bond ETF (FCSB.NEO) at 0.93%. This indicates that FCMO.NEO's price experiences larger fluctuations and is considered to be riskier than FCSB.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCMO.NEO	FCSB.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.56%	0.93%	+4.63%
Volatility (6M) Calculated over the trailing 6-month period	16.89%	2.15%	+14.74%
Volatility (1Y) Calculated over the trailing 1-year period	19.99%	2.81%	+17.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.36%	3.32%	+15.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.59%	4.93%	+27.66%

FCMO.NEO vs. FCSB.NEO - Expense Ratio Comparison

FCMO.NEO has a 0.38% expense ratio, which is lower than FCSB.NEO's 0.44% expense ratio.

Dividends

FCMO.NEO vs. FCSB.NEO - Dividend Comparison

FCMO.NEO's dividend yield for the trailing twelve months is around 0.30%, less than FCSB.NEO's 3.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FCMO.NEO Fidelity US Momentum ETF	0.30%	0.36%	0.25%	0.00%	0.00%	0.00%	0.28%	0.00%
FCSB.NEO Fidelity Canadian Short Term Corporate Bond ETF	3.81%	3.73%	3.59%	3.06%	2.09%	1.58%	2.34%	0.38%

Frequently Asked Questions

Can I hold both FCMO.NEO and FCSB.NEO in my portfolio?

FCMO.NEO and FCSB.NEO have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FCMO.NEO or FCSB.NEO?

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.

Which ETF is cheaper, FCMO.NEO or FCSB.NEO?

FCMO.NEO is cheaper with a 0.38% expense ratio, compared with 0.44% for FCSB.NEO.

What is the main difference between FCMO.NEO and FCSB.NEO?

FCMO.NEO is categorized as Momentum, while FCSB.NEO is Corporate Bonds. FCMO.NEO tracks Fidelity Canada U.S. Momentum Index, while FCSB.NEO tracks FTSE Canada Short Term Corporate Bond 5% Capped Index. Their fees differ too: 0.38% for FCMO.NEO and 0.44% for FCSB.NEO.