FCQH.TO vs. FCUV.TO
FCQH.TO (Fidelity U.S. High Quality Currency Neutral ETF) and FCUV.TO (Fidelity U.S. Value ETF) are both exchange-traded funds - FCQH.TO is a Large Cap Blend Equities fund actively managed by Fidelity, while FCUV.TO is a Large Cap Value Equities fund tracking the Fidelity Canada U.S. Value Index. FCQH.TO is actively managed, while FCUV.TO is passively managed. Over the past 5 years, FCQH.TO returned 9.60%/yr vs 21.12%/yr for FCUV.TO. At a 0.45 correlation, their price movements are largely independent. Both charge a 0.38% expense ratio.
Performance
FCQH.TO vs. FCUV.TO - 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 FCUV.TO's 17.80% 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*
- —
FCUV.TO
- 1D
- -0.68%
- 1M
- 1.95%
- 6M
- 13.24%
- YTD
- 17.80%
- 1Y
- 34.68%
- 3Y*
- 25.54%
- 5Y*
- 21.12%
- 10Y*
- —
FCQH.TO vs. FCUV.TO - 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% |
FCUV.TO Fidelity U.S. Value ETF | 17.80% | 14.83% | 35.81% | 19.99% | 2.58% | 38.13% | 13.42% |
Correlation
The correlation between FCQH.TO and FCUV.TO is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Jun 10, 2020 | 0.45 |
The correlation between FCQH.TO and FCUV.TO has been stable across timeframes, ranging from 0.45 to 0.52 - a consistent structural relationship.
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Return for Risk
FCQH.TO vs. FCUV.TO — Risk / Return Rank
FCQH.TO
FCUV.TO
FCQH.TO vs. FCUV.TO - 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 U.S. Value ETF (FCUV.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.
| FCQH.TO | FCUV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.54 | ||
| Sortino ratioReturn per unit of downside risk | -2.05 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.42 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 5.20 | -4.28 |
| Martin ratioReturn relative to average drawdown | 3.77 | 17.47 | -13.71 |
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Drawdowns
FCQH.TO vs. FCUV.TO - Drawdown Comparison
The maximum FCQH.TO drawdown since its inception was -30.90%, which is greater than FCUV.TO's maximum drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for FCQH.TO and FCUV.TO.
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Drawdown Indicators
| FCQH.TO | FCUV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.90% | -16.47% | -14.43% |
Max Drawdown (1Y)Largest decline over 1 year | -11.02% | -6.70% | -4.32% |
Max Drawdown (3Y)Largest decline over 3 years | -15.32% | -16.47% | +1.15% |
Max Drawdown (5Y)Largest decline over 5 years | -26.96% | -16.47% | -10.49% |
Current DrawdownCurrent decline from peak | -0.67% | -1.60% | +0.93% |
Average DrawdownAverage peak-to-trough decline | -5.98% | -2.50% | -3.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 1.99% | +0.69% |
Volatility
FCQH.TO vs. FCUV.TO - Volatility Comparison
The current volatility for Fidelity U.S. High Quality Currency Neutral ETF (FCQH.TO) is 4.27%, while Fidelity U.S. Value ETF (FCUV.TO) has a volatility of 4.64%. This indicates that FCQH.TO experiences smaller price fluctuations and is considered to be less risky than FCUV.TO 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 | FCUV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.27% | 4.64% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 11.01% | 11.17% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.75% | 14.97% | -2.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.93% | 15.36% | +0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.86% | 14.85% | +21.01% |
FCQH.TO vs. FCUV.TO - Expense Ratio Comparison
Both FCQH.TO and FCUV.TO have an expense ratio of 0.38%.
Dividends
FCQH.TO vs. FCUV.TO - Dividend Comparison
FCQH.TO's dividend yield for the trailing twelve months is around 0.69%, less than FCUV.TO's 0.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
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% |
FCUV.TO Fidelity U.S. Value ETF | 0.88% | 1.14% | 1.03% | 1.43% | 2.71% | 1.10% | 3.42% | 0.00% |
Frequently Asked Questions
FCQH.TO and FCUV.TO have a correlation of 0.49, 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 FCUV.TO have the same expense ratio: 0.38% per year.
FCQH.TO is categorized as Large Cap Blend Equities, while FCUV.TO is Large Cap Value Equities.
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