FCNS.NEO vs. ZMI.TO
FCNS.NEO (Fidelity All-in-One Conservative ETF) and ZMI.TO (BMO Monthly Income ETF) are both Diversified Portfolio funds. Both are actively managed. Over the past year, FCNS.NEO returned 11.65% vs 14.28% for ZMI.TO. A 0.80 correlation means they provide meaningful diversification when combined. FCNS.NEO charges 0.40%/yr vs 0.18%/yr for ZMI.TO.
Performance
FCNS.NEO vs. ZMI.TO - 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 ZMI.TO's 10.10% 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%
ZMI.TO
- 1D
- 0.60%
- 1M
- 0.20%
- 6M
- 8.11%
- YTD
- 10.10%
- 1Y
- 14.28%
- 3Y*
- 12.23%
- 5Y*
- 7.59%
- 10Y*
- 6.58%
- ALL TIME*
- 6.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$2.87M | CA$3.68M | CA$3.34M | |
ZMI.TO BMO Monthly Income ETF | CA$173.50K | CA$284.92K | CA$374.43K |
FCNS.NEO vs. ZMI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FCNS.NEO Fidelity All-in-One Conservative ETF | 5.61% | 9.95% | 9.08% |
ZMI.TO BMO Monthly Income ETF | 10.10% | 8.04% | 8.44% |
Correlation
The correlation between FCNS.NEO and ZMI.TO is 0.80, 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 | 0.80 |
Correlation (All Time) Calculated using the full available price history since May 13, 2024 | 0.80 |
The correlation between FCNS.NEO and ZMI.TO has been stable across timeframes, ranging from 0.80 to 0.80 - a consistent structural relationship.
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Return for Risk
FCNS.NEO vs. ZMI.TO — Risk / Return Rank
FCNS.NEO
ZMI.TO
FCNS.NEO vs. ZMI.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 Monthly Income ETF (ZMI.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.NEO | ZMI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.40 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 3.02 | -0.61 |
| Martin ratioReturn relative to average drawdown | 9.35 | 9.72 | -0.37 |
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Drawdowns
FCNS.NEO vs. ZMI.TO - Drawdown Comparison
The maximum FCNS.NEO drawdown since its inception was -6.45%, smaller than the maximum ZMI.TO drawdown of -26.64%. Use the drawdown chart below to compare losses from any high point for FCNS.NEO and ZMI.TO.
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Drawdown Indicators
| FCNS.NEO | ZMI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.45% | -26.64% | +20.19% |
Max Drawdown (1Y)Largest decline over 1 year | -4.85% | -4.75% | -0.10% |
Max Drawdown (3Y)Largest decline over 3 years | — | -8.80% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.68% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.64% | — |
Current DrawdownCurrent decline from peak | -1.61% | -0.74% | -0.87% |
Average DrawdownAverage peak-to-trough decline | -0.89% | -2.07% | +1.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 1.47% | -0.22% |
Volatility
FCNS.NEO vs. ZMI.TO - Volatility Comparison
Fidelity All-in-One Conservative ETF (FCNS.NEO) has a higher volatility of 2.90% compared to BMO Monthly Income ETF (ZMI.TO) at 1.60%. This indicates that FCNS.NEO's price experiences larger fluctuations and is considered to be riskier than ZMI.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.NEO | ZMI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.90% | 1.60% | +1.30% |
Volatility (6M)Calculated over the trailing 6-month period | 5.82% | 5.16% | +0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.88% | 7.24% | -0.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.92% | 7.45% | -0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.92% | 8.86% | -1.94% |
FCNS.NEO vs. ZMI.TO - Expense Ratio Comparison
FCNS.NEO has a 0.40% expense ratio, which is higher than ZMI.TO's 0.18% expense ratio.
Dividends
FCNS.NEO vs. ZMI.TO - Dividend Comparison
FCNS.NEO's dividend yield for the trailing twelve months is around 1.96%, less than ZMI.TO's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCNS.NEO Fidelity All-in-One Conservative ETF | 1.96% | 2.07% | 1.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZMI.TO BMO Monthly Income ETF | 3.86% | 4.67% | 4.82% | 5.09% | 4.63% | 3.82% | 4.34% | 4.37% | 4.72% | 4.18% | 4.01% | 4.01% |
Frequently Asked Questions
FCNS.NEO and ZMI.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, ZMI.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZMI.TO is cheaper with a 0.18% 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 0.18% for ZMI.TO.
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