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FCNS.NEO vs. ZCON.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FCNS.NEO vs. ZCON.TO

Last updated Jul 25, 2026
Documentation

FCNS.NEO (Fidelity All-in-One Conservative ETF) and ZCON.TO (BMO Conservative ETF) are both Diversified Portfolio funds. Both are actively managed. Over the past year, FCNS.NEO returned 11.65% vs 11.52% for ZCON.TO. A 0.71 correlation means they provide meaningful diversification when combined. FCNS.NEO charges 0.40%/yr vs 0.15%/yr for ZCON.TO.

Performance

FCNS.NEO vs. ZCON.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity All-in-One Conservative ETF (FCNS.NEO) and BMO Conservative ETF (ZCON.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FCNS.NEO achieves a 5.61% return, which is significantly higher than ZCON.TO's 5.20% 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%

ZCON.TO

1D
0.15%
1M
-0.88%
6M
3.64%
YTD
5.20%
1Y
11.52%
3Y*
-23.47%
5Y*
-15.58%
10Y*
—
ALL TIME*
-8.29%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

FCNS.NEO

Fidelity All-in-One Conservative ETF
CA$2.87MCA$3.68MCA$3.34M

ZCON.TO

BMO Conservative ETF
CA$151.17KCA$167.18KCA$182.28K

FCNS.NEO vs. ZCON.TO - Yearly Performance Comparison

2026 (YTD)20252024
FCNS.NEO
Fidelity All-in-One Conservative ETF		5.61%9.95%9.08%
ZCON.TO
BMO Conservative ETF		5.20%-63.49%8.47%

Correlation

The correlation between FCNS.NEO and ZCON.TO is 0.80, 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

0.80

Correlation (All Time)
Calculated using the full available price history since May 13, 2024

0.71

The correlation between FCNS.NEO and ZCON.TO has been stable across timeframes, ranging from 0.71 to 0.80 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Fidelity All-in-One Conservative ETF

BMO Conservative ETF

Often compared with ZCON.TO:
ZCON.TO vs. XCNS.TOZCON.TO vs. ZBAL.TOZCON.TO vs. PYF.TOZCON.TO vs. MIX.TOZCON.TO vs. ZMI.TOZCON.TO vs. XBAL.TOZCON.TO vs. FEQT.NEO

Return for Risk

FCNS.NEO vs. ZCON.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FCNS.NEO
FCNS.NEO Risk / Return Rank: 7474
Overall Rank
FCNS.NEO Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
FCNS.NEO Sortino Ratio Rank: 7777
Sortino Ratio Rank
FCNS.NEO Omega Ratio Rank: 7575
Omega Ratio Rank
FCNS.NEO Calmar Ratio Rank: 6868
Calmar Ratio Rank
FCNS.NEO Martin Ratio Rank: 7474
Martin Ratio Rank
ZCON.TO
ZCON.TO Risk / Return Rank: 4747
Overall Rank
ZCON.TO Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
ZCON.TO Sortino Ratio Rank: 9595
Sortino Ratio Rank
ZCON.TO Omega Ratio Rank: 9999
Omega Ratio Rank
ZCON.TO Calmar Ratio Rank: 1515
Calmar Ratio Rank
ZCON.TO Martin Ratio Rank: 1313
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.

FCNS.NEO vs. ZCON.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity All-in-One Conservative ETF (FCNS.NEO) and BMO Conservative ETF (ZCON.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.

FCNS.NEOZCON.TODifference
Sharpe ratioReturn per unit of total volatility
1.70
0.03

+1.67

Sortino ratioReturn per unit of downside risk
2.50
4.09

-1.58

Omega ratioGain probability vs. loss probability

1.32

2.82

-1.50

Calmar ratioReturn relative to maximum drawdown

2.41

0.17

+2.24

Martin ratioReturn relative to average drawdown

9.35

0.18

+9.17

FCNS.NEO vs. ZCON.TO - Sharpe Ratio Comparison

The current FCNS.NEO Sharpe Ratio is 1.70, which is higher than the ZCON.TO Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of FCNS.NEO and ZCON.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

FCNS.NEO vs. ZCON.TO - Drawdown Comparison

The maximum FCNS.NEO drawdown since its inception was -6.45%, smaller than the maximum ZCON.TO drawdown of -66.98%. Use the drawdown chart below to compare losses from any high point for FCNS.NEO and ZCON.TO.

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Drawdown Indicators

FCNS.NEOZCON.TODifference

Max Drawdown

Largest peak-to-trough decline

-6.45%

-66.98%

+60.53%

Max Drawdown (1Y)

Largest decline over 1 year

-4.85%

-66.78%

+61.93%

Max Drawdown (3Y)

Largest decline over 3 years

—

-66.98%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-66.98%

—

Current Drawdown

Current decline from peak

-1.61%

-63.41%

+61.80%

Average Drawdown

Average peak-to-trough decline

-0.89%

-11.72%

+10.83%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.25%

63.74%

-62.49%

Volatility

FCNS.NEO vs. ZCON.TO - Volatility Comparison

Fidelity All-in-One Conservative ETF (FCNS.NEO) has a higher volatility of 2.90% compared to BMO Conservative ETF (ZCON.TO) at 1.90%. This indicates that FCNS.NEO's price experiences larger fluctuations and is considered to be riskier than ZCON.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FCNS.NEOZCON.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.90%

1.90%

+1.00%

Volatility (6M)

Calculated over the trailing 6-month period

5.82%

5.26%

+0.56%

Volatility (1Y)

Calculated over the trailing 1-year period

6.88%

420.99%

-414.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.92%

191.33%

-184.41%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.92%

157.04%

-150.12%

FCNS.NEO vs. ZCON.TO - Expense Ratio Comparison

FCNS.NEO has a 0.40% expense ratio, which is higher than ZCON.TO's 0.15% expense ratio.

Dividends

FCNS.NEO vs. ZCON.TO - Dividend Comparison

FCNS.NEO's dividend yield for the trailing twelve months is around 1.96%, more than ZCON.TO's 1.92% yield.

PositionTTM2025202420232022202120202019
FCNS.NEO
Fidelity All-in-One Conservative ETF		1.96%2.07%1.71%0.00%0.00%0.00%0.00%0.00%
ZCON.TO
BMO Conservative ETF		1.92%4.69%2.49%2.71%2.89%2.50%2.59%2.51%

Frequently Asked Questions

FCNS.NEO and ZCON.TO have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ZCON.TO is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ZCON.TO is cheaper with a 0.15% expense ratio, compared with 0.40% for FCNS.NEO.

They also come from different issuers: Fidelity and BMO. Their fees differ too: 0.40% for FCNS.NEO and 0.15% for ZCON.TO.

Portfolio Optimizer

Find the right allocation for FCNS.NEO and ZCON.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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