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

FCMO.NEO vs. ZQQ.TO

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity US Momentum ETF (FCMO.NEO) and BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.TO).

FCMO.NEO and ZQQ.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FCMO.NEO is a passively managed fund by Fidelity that tracks the performance of the Fidelity Canada U.S. Momentum Index. It was launched on Jun 5, 2020. ZQQ.TO is a passively managed fund by BMO that tracks the performance of the NASDAQ-100 Index. It was launched on Jan 19, 2010. Both FCMO.NEO and ZQQ.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FCMO.NEO vs. ZQQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity US Momentum ETF (FCMO.NEO) and BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)20252024
FCMO.NEO
Fidelity US Momentum ETF		0.94%14.07%26.59%
ZQQ.TO
BMO NASDAQ 100 Equity (CAD Hedged)		-5.30%18.38%14.17%

Returns By Period

In the year-to-date period, FCMO.NEO achieves a 0.94% return, which is significantly higher than ZQQ.TO's -5.30% return.

FCMO.NEO

1D
1.46%
1M
-4.10%
YTD
0.94%
6M
-0.31%
1Y
19.59%
3Y*
—
5Y*
—
10Y*
—

ZQQ.TO

1D
0.14%
1M
-2.94%
YTD
-5.30%
6M
-4.24%
1Y
20.73%
3Y*
20.89%
5Y*
11.49%
10Y*
17.35%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

BMO NASDAQ 100 Equity (CAD Hedged)

Often compared with FCMO.NEO:
FCMO.NEO vs. VFV.TOFCMO.NEO vs. SPMOFCMO.NEO vs. VMO.TOFCMO.NEO vs. FDMOFCMO.NEO vs. FCUV.TOFCMO.NEO vs. FGEP.TOFCMO.NEO vs. FRNW
Often compared with ZQQ.TO:
ZQQ.TO vs. ZNQ.TOZQQ.TO vs. XQQ.TOZQQ.TO vs. QQC.TOZQQ.TO vs. QQQZQQ.TO vs. VFV.TOZQQ.TO vs. ZSP.TOZQQ.TO vs. TEC.TO

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

FCMO.NEO has a 0.38% expense ratio, which is lower than ZQQ.TO's 0.39% expense ratio.

ZQQ.TO
BMO NASDAQ 100 Equity (CAD Hedged)
FCMO.NEO
Fidelity US Momentum ETF

Return for Risk

FCMO.NEO vs. ZQQ.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: 4545
Overall Rank
FCMO.NEO Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
FCMO.NEO Sortino Ratio Rank: 4242
Sortino Ratio Rank
FCMO.NEO Omega Ratio Rank: 4444
Omega Ratio Rank
FCMO.NEO Calmar Ratio Rank: 5151
Calmar Ratio Rank
FCMO.NEO Martin Ratio Rank: 4848
Martin Ratio Rank
ZQQ.TO
ZQQ.TO Risk / Return Rank: 5252
Overall Rank
ZQQ.TO Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
ZQQ.TO Sortino Ratio Rank: 5252
Sortino Ratio Rank
ZQQ.TO Omega Ratio Rank: 5353
Omega Ratio Rank
ZQQ.TO Calmar Ratio Rank: 5757
Calmar Ratio Rank
ZQQ.TO Martin Ratio Rank: 5151
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. ZQQ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity US Momentum ETF (FCMO.NEO) and BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.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.

FCMO.NEOZQQ.TODifference

Sharpe ratio

Return per unit of total volatility

0.81

0.94

-0.12

Sortino ratio

Return per unit of downside risk

1.26

1.48

-0.22

Omega ratio

Gain probability vs. loss probability

1.18

1.21

-0.03

Calmar ratio

Return relative to maximum drawdown

1.45

1.69

-0.23

Martin ratio

Return relative to average drawdown

5.08

5.81

-0.73

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current FCMO.NEO Sharpe Ratio is 0.81, which is comparable to the ZQQ.TO Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of FCMO.NEO and ZQQ.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

FCMO.NEOZQQ.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.81

0.94

-0.12

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.51

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.78

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.01

0.83

+0.17

Correlation

The correlation between FCMO.NEO and ZQQ.TO is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FCMO.NEO vs. ZQQ.TO - Dividend Comparison

FCMO.NEO's dividend yield for the trailing twelve months is around 0.36%, more than ZQQ.TO's 0.28% yield.

TTM20252024202320222021202020192018201720162015
FCMO.NEO
Fidelity US Momentum ETF		0.36%0.36%0.25%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ZQQ.TO
BMO NASDAQ 100 Equity (CAD Hedged)		0.28%0.27%0.37%0.32%0.45%0.14%0.41%0.51%0.64%0.57%1.60%0.81%

Drawdowns

FCMO.NEO vs. ZQQ.TO - Drawdown Comparison

The maximum FCMO.NEO drawdown since its inception was -21.77%, smaller than the maximum ZQQ.TO drawdown of -36.39%. Use the drawdown chart below to compare losses from any high point for FCMO.NEO and ZQQ.TO.

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Drawdown Indicators

FCMO.NEOZQQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-21.77%

-36.39%

+14.62%

Max Drawdown (1Y)

Largest decline over 1 year

-13.90%

-12.86%

-1.04%

Max Drawdown (5Y)

Largest decline over 5 years

—

-36.39%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-36.39%

—

Current Drawdown

Current decline from peak

-5.35%

-8.66%

+3.31%

Average Drawdown

Average peak-to-trough decline

-3.12%

-5.41%

+2.29%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.97%

3.73%

+0.24%

Volatility

FCMO.NEO vs. ZQQ.TO - Volatility Comparison

Fidelity US Momentum ETF (FCMO.NEO) has a higher volatility of 8.84% compared to BMO NASDAQ 100 Equity (CAD Hedged) (ZQQ.TO) at 6.48%. This indicates that FCMO.NEO's price experiences larger fluctuations and is considered to be riskier than ZQQ.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.NEOZQQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

8.84%

6.48%

+2.36%

Volatility (6M)

Calculated over the trailing 6-month period

14.74%

12.67%

+2.07%

Volatility (1Y)

Calculated over the trailing 1-year period

24.21%

22.22%

+1.99%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.68%

22.58%

-1.90%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.68%

22.36%

-1.68%