FCSB.NEO vs. TUSB.TO

Last updated Jul 16, 2026

FCSB.NEO (Fidelity Canadian Short Term Corporate Bond ETF) and TUSB.TO (TD Select U.S. Short Term Corporate Bond Ladder ETF) are both exchange-traded funds - FCSB.NEO is a Corporate Bonds fund tracking the FTSE Canada Short Term Corporate Bond 5% Capped Index, while TUSB.TO is a Short-Term Bond fund actively managed by TD. FCSB.NEO is passively managed, while TUSB.TO is actively managed. Over the past 5 years, FCSB.NEO returned 2.92%/yr vs 5.41%/yr for TUSB.TO. At a 0.07 correlation, their price movements are largely independent.

Performance

FCSB.NEO vs. TUSB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity Canadian Short Term Corporate Bond ETF (FCSB.NEO) and TD Select U.S. Short Term Corporate Bond Ladder ETF (TUSB.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCSB.NEO achieves a 1.49% return, which is significantly lower than TUSB.TO's 3.41% return.

FCSB.NEO

• 1D: -0.04%
• 1M: -0.04%
• 6M: 0.94%
• YTD: 1.49%
• 1Y: 3.74%
• 3Y*: 5.98%
• 5Y*: 2.92%
• 10Y*: —

TUSB.TO

• 1D: -0.21%
• 1M: 0.48%
• 6M: 1.98%
• YTD: 3.41%
• 1Y: 6.93%
• 3Y*: 7.96%
• 5Y*: 5.41%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FCSB.NEO vs. TUSB.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FCSB.NEO Fidelity Canadian Short Term Corporate Bond ETF	1.49%	4.15%	7.55%	6.81%	-4.22%	-0.81%	6.26%	0.82%
TUSB.TO TD Select U.S. Short Term Corporate Bond Ladder ETF	3.41%	2.39%	14.59%	3.52%	1.39%	-2.53%	3.22%	-0.68%

Correlation

The correlation between FCSB.NEO and TUSB.TO is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (All Time) Calculated using the full available price history since Sep 20, 2019	0.07

The correlation between FCSB.NEO and TUSB.TO shifts across timeframes, from 0.00 (1 year) to 0.11 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FCSB.NEO vs. TUSB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FCSB.NEO

FCSB.NEO Risk / Return Rank: 51
FCSB.NEO Sharpe Ratio Rank: 45
FCSB.NEO Sortino Ratio Rank: 47
FCSB.NEO Omega Ratio Rank: 46
FCSB.NEO Calmar Ratio Rank: 58
FCSB.NEO Martin Ratio Rank: 60

TUSB.TO

TUSB.TO Risk / Return Rank: 50
TUSB.TO Sharpe Ratio Rank: 55
TUSB.TO Sortino Ratio Rank: 58
TUSB.TO Omega Ratio Rank: 55
TUSB.TO Calmar Ratio Rank: 45
TUSB.TO Martin Ratio Rank: 38

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.

FCSB.NEO vs. TUSB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Canadian Short Term Corporate Bond ETF (FCSB.NEO) and TD Select U.S. Short Term Corporate Bond Ladder ETF (TUSB.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.

	FCSB.NEO	TUSB.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.54	-0.20
Sortino ratio: Return per unit of downside risk	1.98	2.26	-0.28
Omega ratio: Gain probability vs. loss probability	1.25	1.28	-0.03
Calmar ratio: Return relative to maximum drawdown	2.37	1.92	+0.45
Martin ratio: Return relative to average drawdown	8.66	4.86	+3.79

FCSB.NEO vs. TUSB.TO - Sharpe Ratio Comparison

The current FCSB.NEO Sharpe Ratio is 1.33, which is comparable to the TUSB.TO Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of FCSB.NEO and TUSB.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.

Drawdowns

FCSB.NEO vs. TUSB.TO - Drawdown Comparison

The maximum FCSB.NEO drawdown since its inception was -12.48%, roughly equal to the maximum TUSB.TO drawdown of -11.97%. Use the drawdown chart below to compare losses from any high point for FCSB.NEO and TUSB.TO.

Drawdown Indicators

	FCSB.NEO	TUSB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-12.48%	-11.97%	-0.51%
Max Drawdown (1Y) Largest decline over 1 year	-1.58%	-3.62%	+2.04%
Max Drawdown (3Y) Largest decline over 3 years	-1.58%	-5.20%	+3.62%
Max Drawdown (5Y) Largest decline over 5 years	-7.44%	-7.56%	+0.12%
Current Drawdown Current decline from peak	-0.51%	-1.37%	+0.86%
Average Drawdown Average peak-to-trough decline	-1.48%	-3.46%	+1.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.43%	1.43%	-1.00%

Volatility

FCSB.NEO vs. TUSB.TO - Volatility Comparison

The current volatility for Fidelity Canadian Short Term Corporate Bond ETF (FCSB.NEO) is 0.93%, while TD Select U.S. Short Term Corporate Bond Ladder ETF (TUSB.TO) has a volatility of 1.23%. This indicates that FCSB.NEO experiences smaller price fluctuations and is considered to be less risky than TUSB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCSB.NEO	TUSB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.93%	1.23%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	2.15%	3.37%	-1.22%
Volatility (1Y) Calculated over the trailing 1-year period	2.81%	4.53%	-1.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.32%	6.53%	-3.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.93%	6.72%	-1.79%

Dividends

FCSB.NEO vs. TUSB.TO - Dividend Comparison

FCSB.NEO's dividend yield for the trailing twelve months is around 3.81%, less than TUSB.TO's 4.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FCSB.NEO Fidelity Canadian Short Term Corporate Bond ETF	3.81%	3.73%	3.59%	3.06%	2.09%	1.58%	2.34%	0.38%	0.00%
TUSB.TO TD Select U.S. Short Term Corporate Bond Ladder ETF	4.57%	5.05%	4.92%	5.35%	3.54%	3.43%	5.07%	4.48%	0.55%

Frequently Asked Questions

Can I hold both FCSB.NEO and TUSB.TO in my portfolio?

FCSB.NEO and TUSB.TO have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between FCSB.NEO and TUSB.TO?

FCSB.NEO is categorized as Corporate Bonds, while TUSB.TO is Short-Term Bond. They also come from different issuers: Fidelity and TD.