FCUD.TO vs. FCUV.TO

Last updated Jul 16, 2026

FCUD.TO (Fidelity U.S. High Dividend ETF) and FCUV.TO (Fidelity U.S. Value ETF) are both exchange-traded funds - FCUD.TO is a Dividend fund actively managed by Fidelity, while FCUV.TO is a Large Cap Value Equities fund tracking the Fidelity Canada U.S. Value Index. FCUD.TO is actively managed, while FCUV.TO is passively managed. Over the past 5 years, FCUD.TO returned 9.99%/yr vs 21.12%/yr for FCUV.TO. A 0.64 correlation means they provide meaningful diversification when combined. FCUD.TO charges 0.35%/yr vs 0.38%/yr for FCUV.TO.

Performance

FCUD.TO vs. FCUV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity U.S. High Dividend ETF (FCUD.TO) and Fidelity U.S. Value ETF (FCUV.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCUD.TO achieves a 14.75% return, which is significantly lower than FCUV.TO's 17.80% return.

FCUD.TO

• 1D: 0.07%
• 1M: 0.46%
• 6M: 10.36%
• YTD: 14.75%
• 1Y: 5.31%
• 3Y*: 11.70%
• 5Y*: 9.99%
• 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*: —

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

FCUD.TO vs. FCUV.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FCUD.TO Fidelity U.S. High Dividend ETF	14.75%	-5.65%	22.63%	8.12%	0.48%	31.54%	4.59%
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 FCUD.TO and FCUV.TO is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Jun 10, 2020	0.64

The correlation between FCUD.TO and FCUV.TO shifts across timeframes, from 0.55 (1 year) to 0.72 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FCUD.TO vs. FCUV.TO — Risk / Return Rank

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

FCUD.TO

FCUD.TO Risk / Return Rank: 15
FCUD.TO Sharpe Ratio Rank: 17
FCUD.TO Sortino Ratio Rank: 14
FCUD.TO Omega Ratio Rank: 18
FCUD.TO Calmar Ratio Rank: 14
FCUD.TO Martin Ratio Rank: 14

FCUV.TO

FCUV.TO Risk / Return Rank: 90
FCUV.TO Sharpe Ratio Rank: 89
FCUV.TO Sortino Ratio Rank: 88
FCUV.TO Omega Ratio Rank: 87
FCUV.TO Calmar Ratio Rank: 94
FCUV.TO Martin Ratio Rank: 92

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.

FCUD.TO vs. FCUV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity U.S. High Dividend ETF (FCUD.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.

	FCUD.TO	FCUV.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.43	2.33	-1.90
Sortino ratio: Return per unit of downside risk	0.59	3.23	-2.64
Omega ratio: Gain probability vs. loss probability	1.10	1.42	-0.32
Calmar ratio: Return relative to maximum drawdown	0.38	5.20	-4.82
Martin ratio: Return relative to average drawdown	0.87	17.47	-16.60

FCUD.TO vs. FCUV.TO - Sharpe Ratio Comparison

The current FCUD.TO Sharpe Ratio is 0.43, which is lower than the FCUV.TO Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of FCUD.TO and FCUV.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

FCUD.TO vs. FCUV.TO - Drawdown Comparison

The maximum FCUD.TO drawdown since its inception was -38.79%, 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 FCUD.TO and FCUV.TO.

Drawdown Indicators

	FCUD.TO	FCUV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-38.79%	-16.47%	-22.32%
Max Drawdown (1Y) Largest decline over 1 year	-14.19%	-6.70%	-7.49%
Max Drawdown (3Y) Largest decline over 3 years	-16.13%	-16.47%	+0.34%
Max Drawdown (5Y) Largest decline over 5 years	-16.13%	-16.47%	+0.34%
Current Drawdown Current decline from peak	-1.54%	-1.60%	+0.06%
Average Drawdown Average peak-to-trough decline	-4.69%	-2.50%	-2.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.12%	1.99%	+4.13%

Volatility

FCUD.TO vs. FCUV.TO - Volatility Comparison

The current volatility for Fidelity U.S. High Dividend ETF (FCUD.TO) is 1.82%, while Fidelity U.S. Value ETF (FCUV.TO) has a volatility of 4.64%. This indicates that FCUD.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.

Volatility by Period

	FCUD.TO	FCUV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.82%	4.64%	-2.82%
Volatility (6M) Calculated over the trailing 6-month period	6.34%	11.17%	-4.83%
Volatility (1Y) Calculated over the trailing 1-year period	12.38%	14.97%	-2.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.11%	15.36%	-2.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.82%	14.85%	+2.97%

FCUD.TO vs. FCUV.TO - Expense Ratio Comparison

FCUD.TO has a 0.35% expense ratio, which is lower than FCUV.TO's 0.38% expense ratio.

Dividends

FCUD.TO vs. FCUV.TO - Dividend Comparison

FCUD.TO's dividend yield for the trailing twelve months is around 2.46%, more than FCUV.TO's 0.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FCUD.TO Fidelity U.S. High Dividend ETF	2.46%	3.13%	2.15%	2.45%	2.72%	2.16%	4.10%	2.90%	1.01%
FCUV.TO Fidelity U.S. Value ETF	0.88%	1.14%	1.03%	1.43%	2.71%	1.10%	3.42%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FCUD.TO and FCUV.TO in my portfolio?

FCUD.TO and FCUV.TO have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FCUD.TO or FCUV.TO?

On fees, FCUD.TO is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FCUD.TO or FCUV.TO?

FCUD.TO is cheaper with a 0.35% expense ratio, compared with 0.38% for FCUV.TO.

What is the main difference between FCUD.TO and FCUV.TO?

FCUD.TO is categorized as Dividend, while FCUV.TO is Large Cap Value Equities. Their fees differ too: 0.35% for FCUD.TO and 0.38% for FCUV.TO.