FCUH.TO vs. FCCD.TO

Last updated Jul 16, 2026

FCUH.TO (Fidelity U.S. High Dividend Currency Neutral ETF) and FCCD.TO (Fidelity Canadian High Dividend Index ETF) are both Dividend funds from Fidelity. FCUH.TO is actively managed, while FCCD.TO is passively managed. Over the past 5 years, FCUH.TO returned 8.27%/yr vs 12.21%/yr for FCCD.TO. At a 0.48 correlation, their price movements are largely independent. FCUH.TO charges 0.38%/yr vs 0.35%/yr for FCCD.TO.

Performance

FCUH.TO vs. FCCD.TO - Performance Comparison

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

Returns By Period

In the year-to-date period, FCUH.TO achieves a 10.30% return, which is significantly lower than FCCD.TO's 16.19% return.

FCUH.TO

• 1D: 0.16%
• 1M: -0.28%
• 6M: 8.91%
• YTD: 10.30%
• 1Y: 10.83%
• 3Y*: 11.42%
• 5Y*: 8.27%
• 10Y*: —

FCCD.TO

• 1D: 0.49%
• 1M: 0.63%
• 6M: 12.66%
• YTD: 16.19%
• 1Y: 31.91%
• 3Y*: 19.95%
• 5Y*: 12.21%
• 10Y*: —

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

FCUH.TO vs. FCCD.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FCUH.TO Fidelity U.S. High Dividend Currency Neutral ETF	10.30%	7.12%	12.67%	9.08%	-6.43%	31.92%	-6.08%	22.45%	-13.39%
FCCD.TO Fidelity Canadian High Dividend Index ETF	16.19%	25.05%	16.92%	3.35%	-4.04%	29.46%	-8.44%	20.71%	-8.25%

Correlation

The correlation between FCUH.TO and FCCD.TO is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (All Time) Calculated using the full available price history since Sep 18, 2018	0.48

Over the past year, the correlation between FCUH.TO and FCCD.TO has dropped to 0.10 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.

Return for Risk

FCUH.TO vs. FCCD.TO — Risk / Return Rank

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

FCUH.TO

FCUH.TO Risk / Return Rank: 30
FCUH.TO Sharpe Ratio Rank: 27
FCUH.TO Sortino Ratio Rank: 25
FCUH.TO Omega Ratio Rank: 31
FCUH.TO Calmar Ratio Rank: 34
FCUH.TO Martin Ratio Rank: 35

FCCD.TO

FCCD.TO Risk / Return Rank: 96
FCCD.TO Sharpe Ratio Rank: 97
FCCD.TO Sortino Ratio Rank: 97
FCCD.TO Omega Ratio Rank: 96
FCCD.TO Calmar Ratio Rank: 94
FCCD.TO Martin Ratio Rank: 96

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.

FCUH.TO vs. FCCD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity U.S. High Dividend Currency Neutral ETF (FCUH.TO) and Fidelity Canadian High Dividend Index ETF (FCCD.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.

	FCUH.TO	FCCD.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.84	3.69	-2.84
Sortino ratio: Return per unit of downside risk	1.19	5.13	-3.94
Omega ratio: Gain probability vs. loss probability	1.18	1.68	-0.50
Calmar ratio: Return relative to maximum drawdown	1.45	5.66	-4.21
Martin ratio: Return relative to average drawdown	4.41	25.97	-21.56

FCUH.TO vs. FCCD.TO - Sharpe Ratio Comparison

The current FCUH.TO Sharpe Ratio is 0.84, which is lower than the FCCD.TO Sharpe Ratio of 3.69. The chart below compares the historical Sharpe Ratios of FCUH.TO and FCCD.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

FCUH.TO vs. FCCD.TO - Drawdown Comparison

The maximum FCUH.TO drawdown since its inception was -45.06%, roughly equal to the maximum FCCD.TO drawdown of -43.53%. Use the drawdown chart below to compare losses from any high point for FCUH.TO and FCCD.TO.

Drawdown Indicators

	FCUH.TO	FCCD.TO	Difference
Max Drawdown Largest peak-to-trough decline	-45.06%	-43.53%	-1.53%
Max Drawdown (1Y) Largest decline over 1 year	-7.22%	-5.67%	-1.55%
Max Drawdown (3Y) Largest decline over 3 years	-16.03%	-9.94%	-6.09%
Max Drawdown (5Y) Largest decline over 5 years	-21.80%	-19.24%	-2.56%
Current Drawdown Current decline from peak	-1.29%	0.00%	-1.29%
Average Drawdown Average peak-to-trough decline	-6.07%	-6.30%	+0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	1.23%	+1.14%

Volatility

FCUH.TO vs. FCCD.TO - Volatility Comparison

Fidelity U.S. High Dividend Currency Neutral ETF (FCUH.TO) and Fidelity Canadian High Dividend Index ETF (FCCD.TO) have volatilities of 2.55% and 2.50%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCUH.TO	FCCD.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	2.50%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	6.36%	7.03%	-0.67%
Volatility (1Y) Calculated over the trailing 1-year period	12.43%	8.71%	+3.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.12%	11.52%	+3.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.14%	17.00%	+3.14%

FCUH.TO vs. FCCD.TO - Expense Ratio Comparison

FCUH.TO has a 0.38% expense ratio, which is higher than FCCD.TO's 0.35% expense ratio.

Dividends

FCUH.TO vs. FCCD.TO - Dividend Comparison

FCUH.TO's dividend yield for the trailing twelve months is around 2.48%, less than FCCD.TO's 2.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FCCD.TO Fidelity Canadian High Dividend Index ETF	2.97%	3.56%	4.27%	4.65%	4.01%	3.02%	4.74%	3.80%	0.16%
FCUH.TO Fidelity U.S. High Dividend Currency Neutral ETF	2.48%	2.72%	2.41%	2.57%	3.05%	2.32%	4.23%	2.99%	0.29%

Frequently Asked Questions

Can I hold both FCUH.TO and FCCD.TO in my portfolio?

FCUH.TO and FCCD.TO have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FCUH.TO or FCCD.TO?

On fees, FCCD.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, FCUH.TO or FCCD.TO?

FCCD.TO is cheaper with a 0.35% expense ratio, compared with 0.38% for FCUH.TO.

What is the main difference between FCUH.TO and FCCD.TO?

Their fees differ too: 0.38% for FCUH.TO and 0.35% for FCCD.TO.