FCQH.TO vs. FBAL.NEO
FCQH.TO (Fidelity U.S. High Quality Currency Neutral ETF) and FBAL.NEO (Fidelity All-in-One Balanced ETF) are both exchange-traded funds - FCQH.TO is a Large Cap Blend Equities fund actively managed by Fidelity, while FBAL.NEO is a Diversified Portfolio fund actively managed by Fidelity. Both are actively managed. Over the past 5 years, FCQH.TO returned 9.60%/yr vs 9.75%/yr for FBAL.NEO. A 0.52 correlation means they provide meaningful diversification when combined. FCQH.TO charges 0.38%/yr vs 0.40%/yr for FBAL.NEO.
Performance
FCQH.TO vs. FBAL.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, FCQH.TO achieves a 5.08% return, which is significantly lower than FBAL.NEO's 8.35% return.
FCQH.TO
- 1D
- -0.15%
- 1M
- -0.15%
- 6M
- 5.76%
- YTD
- 5.08%
- 1Y
- 10.06%
- 3Y*
- 13.98%
- 5Y*
- 9.60%
- 10Y*
- —
FBAL.NEO
- 1D
- 0.32%
- 1M
- 0.32%
- 6M
- 5.27%
- YTD
- 8.35%
- 1Y
- 16.92%
- 3Y*
- 15.90%
- 5Y*
- 9.75%
- 10Y*
- —
FCQH.TO vs. FBAL.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FCQH.TO Fidelity U.S. High Quality Currency Neutral ETF | 5.08% | 9.95% | 22.06% | 21.43% | -17.97% | 30.83% |
FBAL.NEO Fidelity All-in-One Balanced ETF | 8.35% | 12.92% | 19.42% | 13.96% | -9.60% | 11.51% |
Correlation
The correlation between FCQH.TO and FBAL.NEO is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2021 | 0.52 |
The correlation between FCQH.TO and FBAL.NEO has been stable across timeframes, ranging from 0.51 to 0.53 - a consistent structural relationship.
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Return for Risk
FCQH.TO vs. FBAL.NEO — Risk / Return Rank
FCQH.TO
FBAL.NEO
FCQH.TO vs. FBAL.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity U.S. High Quality Currency Neutral ETF (FCQH.TO) 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.
| FCQH.TO | FBAL.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.25 | ||
| Sortino ratioReturn per unit of downside risk | -1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.38 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 2.75 | -1.84 |
| Martin ratioReturn relative to average drawdown | 3.77 | 11.42 | -7.65 |
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Drawdowns
FCQH.TO vs. FBAL.NEO - Drawdown Comparison
The maximum FCQH.TO drawdown since its inception was -30.90%, which is greater than FBAL.NEO's maximum drawdown of -16.23%. Use the drawdown chart below to compare losses from any high point for FCQH.TO and FBAL.NEO.
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Drawdown Indicators
| FCQH.TO | FBAL.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.90% | -16.23% | -14.67% |
Max Drawdown (1Y)Largest decline over 1 year | -11.02% | -6.17% | -4.85% |
Max Drawdown (3Y)Largest decline over 3 years | -15.32% | -8.29% | -7.03% |
Max Drawdown (5Y)Largest decline over 5 years | -26.96% | -16.23% | -10.73% |
Current DrawdownCurrent decline from peak | -0.67% | -1.14% | +0.47% |
Average DrawdownAverage peak-to-trough decline | -5.98% | -3.21% | -2.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 1.49% | +1.19% |
Volatility
FCQH.TO vs. FBAL.NEO - Volatility Comparison
Fidelity U.S. High Quality Currency Neutral ETF (FCQH.TO) has a higher volatility of 4.27% compared to Fidelity All-in-One Balanced ETF (FBAL.NEO) at 2.37%. This indicates that FCQH.TO'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
| FCQH.TO | FBAL.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.27% | 2.37% | +1.90% |
Volatility (6M)Calculated over the trailing 6-month period | 11.01% | 6.91% | +4.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.75% | 8.35% | +4.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.93% | 8.62% | +7.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.86% | 8.53% | +27.33% |
FCQH.TO vs. FBAL.NEO - Expense Ratio Comparison
FCQH.TO has a 0.38% expense ratio, which is lower than FBAL.NEO's 0.40% expense ratio.
Dividends
FCQH.TO vs. FBAL.NEO - Dividend Comparison
FCQH.TO's dividend yield for the trailing twelve months is around 0.69%, less than FBAL.NEO's 1.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FBAL.NEO Fidelity All-in-One Balanced ETF | 1.49% | 1.61% | 1.42% | 1.71% | 1.57% | 1.08% | 0.00% | 0.00% |
FCQH.TO Fidelity U.S. High Quality Currency Neutral ETF | 0.69% | 0.58% | 0.80% | 0.87% | 1.13% | 0.80% | 1.18% | 0.88% |
Frequently Asked Questions
FCQH.TO and FBAL.NEO have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FCQH.TO is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FCQH.TO is cheaper with a 0.38% expense ratio, compared with 0.40% for FBAL.NEO.
FCQH.TO is categorized as Large Cap Blend Equities, while FBAL.NEO is Diversified Portfolio. Their fees differ too: 0.38% for FCQH.TO and 0.40% for FBAL.NEO.
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