FCNS.NEO vs. FBAL.NEO
FCNS.NEO (Fidelity All-in-One Conservative ETF) and FBAL.NEO (Fidelity All-in-One Balanced ETF) are both Diversified Portfolio funds from Fidelity. Both are actively managed. Over the past year, FCNS.NEO returned 11.65% vs 15.28% for FBAL.NEO. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.40% expense ratio.
Performance
FCNS.NEO vs. FBAL.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, FCNS.NEO achieves a 5.61% return, which is significantly lower than FBAL.NEO's 7.93% return.
FCNS.NEO
- 1D
- 0.47%
- 1M
- -0.08%
- 6M
- 3.89%
- YTD
- 5.61%
- 1Y
- 11.65%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.36%
FBAL.NEO
- 1D
- 0.39%
- 1M
- 0.19%
- 6M
- 5.44%
- YTD
- 7.93%
- 1Y
- 15.28%
- 3Y*
- 15.53%
- 5Y*
- 9.35%
- 10Y*
- —
- ALL TIME*
- 9.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
FBAL.NEO Fidelity All-in-One Balanced ETF | CA$12.18M | CA$11.64M | CA$16.06M |
| CA$2.87M | CA$3.68M | CA$3.34M |
FCNS.NEO vs. FBAL.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FCNS.NEO Fidelity All-in-One Conservative ETF | 5.61% | 9.95% | 9.08% |
FBAL.NEO Fidelity All-in-One Balanced ETF | 7.93% | 12.92% | 10.94% |
Correlation
The correlation between FCNS.NEO and FBAL.NEO is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since May 13, 2024 | 0.92 |
The correlation between FCNS.NEO and FBAL.NEO has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.
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Return for Risk
FCNS.NEO vs. FBAL.NEO — Risk / Return Rank
FCNS.NEO
FBAL.NEO
FCNS.NEO vs. FBAL.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity All-in-One Conservative ETF (FCNS.NEO) and Fidelity All-in-One Balanced ETF (FBAL.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.
| FCNS.NEO | FBAL.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.34 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 2.49 | -0.07 |
| Martin ratioReturn relative to average drawdown | 9.35 | 10.13 | -0.78 |
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Drawdowns
FCNS.NEO vs. FBAL.NEO - Drawdown Comparison
The maximum FCNS.NEO drawdown since its inception was -6.45%, smaller than the maximum FBAL.NEO drawdown of -16.23%. Use the drawdown chart below to compare losses from any high point for FCNS.NEO and FBAL.NEO.
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Drawdown Indicators
| FCNS.NEO | FBAL.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.45% | -16.23% | +9.78% |
Max Drawdown (1Y)Largest decline over 1 year | -4.85% | -6.17% | +1.32% |
Max Drawdown (3Y)Largest decline over 3 years | — | -8.29% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.23% | — |
Current DrawdownCurrent decline from peak | -1.61% | -1.52% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -0.89% | -3.20% | +2.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 1.51% | -0.26% |
Volatility
FCNS.NEO vs. FBAL.NEO - Volatility Comparison
Fidelity All-in-One Conservative ETF (FCNS.NEO) has a higher volatility of 2.90% compared to Fidelity All-in-One Balanced ETF (FBAL.NEO) at 2.53%. This indicates that FCNS.NEO's price experiences larger fluctuations and is considered to be riskier than FBAL.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCNS.NEO | FBAL.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.90% | 2.53% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 5.82% | 6.90% | -1.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.88% | 8.40% | -1.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.92% | 8.58% | -1.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.92% | 8.52% | -1.60% |
FCNS.NEO vs. FBAL.NEO - Expense Ratio Comparison
Both FCNS.NEO and FBAL.NEO have an expense ratio of 0.40%.
Dividends
FCNS.NEO vs. FBAL.NEO - Dividend Comparison
FCNS.NEO's dividend yield for the trailing twelve months is around 1.96%, more than FBAL.NEO's 1.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FBAL.NEO Fidelity All-in-One Balanced ETF | 1.49% | 1.61% | 1.42% | 1.71% | 1.57% | 1.08% |
FCNS.NEO Fidelity All-in-One Conservative ETF | 1.96% | 2.07% | 1.71% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, FCNS.NEO and FBAL.NEO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.40% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
FCNS.NEO and FBAL.NEO have the same expense ratio: 0.40% per year.
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