FCQH.TO vs. FCMO.NEO
FCQH.TO (Fidelity U.S. High Quality Currency Neutral ETF) and FCMO.NEO (Fidelity US Momentum ETF) are both exchange-traded funds - FCQH.TO is a Large Cap Blend Equities fund actively managed by Fidelity, while FCMO.NEO is a Momentum fund tracking the Fidelity Canada U.S. Momentum Index. FCQH.TO is actively managed, while FCMO.NEO is passively managed. Over the past 5 years, FCQH.TO returned 9.60%/yr vs 17.92%/yr for FCMO.NEO. At a 0.33 correlation, their price movements are largely independent. Both charge a 0.38% expense ratio.
Performance
FCQH.TO vs. FCMO.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 FCMO.NEO's 20.14% 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*
- —
FCMO.NEO
- 1D
- -0.65%
- 1M
- -1.58%
- 6M
- 15.32%
- YTD
- 20.14%
- 1Y
- 29.41%
- 3Y*
- 31.97%
- 5Y*
- 17.92%
- 10Y*
- —
FCQH.TO vs. FCMO.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FCQH.TO Fidelity U.S. High Quality Currency Neutral ETF | 5.08% | 9.95% | 22.06% | 21.43% | -17.97% | 33.05% | 3.15% |
FCMO.NEO Fidelity US Momentum ETF | 20.14% | 13.77% | 53.26% | 13.09% | -14.21% | 16.13% | -61.16% |
Correlation
The correlation between FCQH.TO and FCMO.NEO is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2020 | 0.33 |
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Return for Risk
FCQH.TO vs. FCMO.NEO — Risk / Return Rank
FCQH.TO
FCMO.NEO
FCQH.TO vs. FCMO.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 US Momentum ETF (FCMO.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 | FCMO.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.28 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 2.71 | -1.79 |
| Martin ratioReturn relative to average drawdown | 3.77 | 9.01 | -5.25 |
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Drawdowns
FCQH.TO vs. FCMO.NEO - Drawdown Comparison
The maximum FCQH.TO drawdown since its inception was -30.90%, smaller than the maximum FCMO.NEO drawdown of -67.39%. Use the drawdown chart below to compare losses from any high point for FCQH.TO and FCMO.NEO.
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Drawdown Indicators
| FCQH.TO | FCMO.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.90% | -67.39% | +36.49% |
Max Drawdown (1Y)Largest decline over 1 year | -11.02% | -10.91% | -0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -15.32% | -21.82% | +6.50% |
Max Drawdown (5Y)Largest decline over 5 years | -26.96% | -26.93% | -0.03% |
Current DrawdownCurrent decline from peak | -0.67% | -8.56% | +7.89% |
Average DrawdownAverage peak-to-trough decline | -5.98% | -48.77% | +42.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 3.27% | -0.59% |
Volatility
FCQH.TO vs. FCMO.NEO - Volatility Comparison
The current volatility for Fidelity U.S. High Quality Currency Neutral ETF (FCQH.TO) is 4.27%, while Fidelity US Momentum ETF (FCMO.NEO) has a volatility of 5.56%. This indicates that FCQH.TO experiences smaller price fluctuations and is considered to be less risky than FCMO.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 | FCMO.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.27% | 5.56% | -1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 11.01% | 16.89% | -5.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.75% | 19.99% | -7.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.93% | 18.36% | -2.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.86% | 32.59% | +3.27% |
FCQH.TO vs. FCMO.NEO - Expense Ratio Comparison
Both FCQH.TO and FCMO.NEO have an expense ratio of 0.38%.
Dividends
FCQH.TO vs. FCMO.NEO - Dividend Comparison
FCQH.TO's dividend yield for the trailing twelve months is around 0.69%, more than FCMO.NEO's 0.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FCMO.NEO Fidelity US Momentum ETF | 0.30% | 0.36% | 0.25% | 0.00% | 0.00% | 0.00% | 0.28% | 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 FCMO.NEO have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.38% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
FCQH.TO and FCMO.NEO have the same expense ratio: 0.38% per year.
FCQH.TO is categorized as Large Cap Blend Equities, while FCMO.NEO is Momentum.
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