FCMO.NEO vs. FEQT.NEO
FCMO.NEO (Fidelity US Momentum ETF) and FEQT.NEO (Fidelity All-in-One Equity ETF Fund) are both exchange-traded funds - FCMO.NEO is a Momentum fund tracking the Fidelity Canada U.S. Momentum Index, while FEQT.NEO is a Diversified Portfolio fund actively managed by Fidelity. FCMO.NEO is passively managed, while FEQT.NEO is actively managed. Over the past year, FCMO.NEO returned 37.84% vs 25.84% for FEQT.NEO. A 0.73 correlation means they provide meaningful diversification when combined. FCMO.NEO charges 0.38%/yr vs 0.43%/yr for FEQT.NEO.
Performance
FCMO.NEO vs. FEQT.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, FCMO.NEO achieves a 21.49% return, which is significantly higher than FEQT.NEO's 10.90% return.
FCMO.NEO
- 1D
- 0.78%
- 1M
- 6.86%
- YTD
- 21.49%
- 6M
- 18.05%
- 1Y
- 37.84%
- 3Y*
- 33.56%
- 5Y*
- —
- 10Y*
- —
FEQT.NEO
- 1D
- 0.54%
- 1M
- 4.10%
- YTD
- 10.90%
- 6M
- 10.77%
- 1Y
- 25.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FCMO.NEO vs. FEQT.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FCMO.NEO Fidelity US Momentum ETF | 21.49% | 14.07% | 23.28% |
FEQT.NEO Fidelity All-in-One Equity ETF Fund | 10.90% | 19.42% | 14.08% |
Correlation
The correlation between FCMO.NEO and FEQT.NEO is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since May 14, 2024 | 0.73 |
The correlation between FCMO.NEO and FEQT.NEO has been stable across timeframes, ranging from 0.73 to 0.77 - a consistent structural relationship.
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Return for Risk
FCMO.NEO vs. FEQT.NEO — Risk / Return Rank
FCMO.NEO
FEQT.NEO
FCMO.NEO vs. FEQT.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity US Momentum ETF (FCMO.NEO) and Fidelity All-in-One Equity ETF Fund (FEQT.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.
| FCMO.NEO | FEQT.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.44 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | 3.12 | +0.36 |
| Martin ratioReturn relative to average drawdown | 12.06 | 13.53 | -1.47 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FCMO.NEO | FEQT.NEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 2.36 | -0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.35 | 1.79 | -0.44 |
Drawdowns
FCMO.NEO vs. FEQT.NEO - Drawdown Comparison
The maximum FCMO.NEO drawdown since its inception was -26.93%, which is greater than FEQT.NEO's maximum drawdown of -13.24%. Use the drawdown chart below to compare losses from any high point for FCMO.NEO and FEQT.NEO.
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Drawdown Indicators
| FCMO.NEO | FEQT.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.93% | -13.24% | -13.69% |
Max Drawdown (1Y)Largest decline over 1 year | -10.91% | -8.31% | -2.60% |
Max Drawdown (3Y)Largest decline over 3 years | -21.77% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.48% | +0.48% |
Average DrawdownAverage peak-to-trough decline | -6.35% | -1.45% | -4.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.15% | 1.91% | +1.24% |
Volatility
FCMO.NEO vs. FEQT.NEO - Volatility Comparison
Fidelity US Momentum ETF (FCMO.NEO) has a higher volatility of 6.69% compared to Fidelity All-in-One Equity ETF Fund (FEQT.NEO) at 3.90%. This indicates that FCMO.NEO's price experiences larger fluctuations and is considered to be riskier than FEQT.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCMO.NEO | FEQT.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.69% | 3.90% | +2.79% |
Volatility (6M)Calculated over the trailing 6-month period | 15.18% | 8.89% | +6.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.30% | 11.02% | +7.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.70% | 12.44% | +9.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.70% | 12.44% | +9.26% |
FCMO.NEO vs. FEQT.NEO - Expense Ratio Comparison
FCMO.NEO has a 0.38% expense ratio, which is lower than FEQT.NEO's 0.43% expense ratio.
Dividends
FCMO.NEO vs. FEQT.NEO - Dividend Comparison
FCMO.NEO's dividend yield for the trailing twelve months is around 0.30%, less than FEQT.NEO's 0.82% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FCMO.NEO Fidelity US Momentum ETF | 0.30% | 0.36% | 0.25% |
FEQT.NEO Fidelity All-in-One Equity ETF Fund | 0.82% | 0.91% | 0.91% |
Frequently Asked Questions
FCMO.NEO and FEQT.NEO have a correlation of 0.77, 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 0.43% for FEQT.NEO.
FCMO.NEO is categorized as Momentum, while FEQT.NEO is Diversified Portfolio. Their fees differ too: 0.38% for FCMO.NEO and 0.43% for FEQT.NEO.
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