FCUH.TO vs. FCCM.NEO

Last updated Jul 16, 2026

FCUH.TO (Fidelity U.S. High Dividend Currency Neutral ETF) and FCCM.NEO (Fidelity Canadian Momentum Index ETF) are both exchange-traded funds - FCUH.TO is a Dividend fund actively managed by Fidelity, while FCCM.NEO is a Momentum fund tracking the Fidelity Canada Canadian Momentum Index. FCUH.TO is actively managed, while FCCM.NEO is passively managed. Over the past 5 years, FCUH.TO returned 8.27%/yr vs 18.62%/yr for FCCM.NEO. At a 0.27 correlation, their price movements are largely independent. Both charge a 0.38% expense ratio.

Performance

FCUH.TO vs. FCCM.NEO - 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 Momentum Index ETF (FCCM.NEO). 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 FCCM.NEO's 11.38% 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*: —

FCCM.NEO

• 1D: 0.39%
• 1M: 0.05%
• 6M: 6.14%
• YTD: 11.38%
• 1Y: 41.08%
• 3Y*: 28.97%
• 5Y*: 18.62%
• 10Y*: —

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

FCUH.TO vs. FCCM.NEO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FCUH.TO Fidelity U.S. High Dividend Currency Neutral ETF	10.30%	7.12%	12.67%	9.08%	-6.43%	31.92%	20.44%
FCCM.NEO Fidelity Canadian Momentum Index ETF	11.38%	43.17%	27.03%	10.10%	-3.42%	14.23%	9.03%

Correlation

The correlation between FCUH.TO and FCCM.NEO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (All Time) Calculated using the full available price history since Jun 12, 2020	0.27

The correlation between FCUH.TO and FCCM.NEO shifts across timeframes, from 0.13 (1 year) to 0.30 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FCUH.TO vs. FCCM.NEO — 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

FCCM.NEO

FCCM.NEO Risk / Return Rank: 87
FCCM.NEO Sharpe Ratio Rank: 92
FCCM.NEO Sortino Ratio Rank: 89
FCCM.NEO Omega Ratio Rank: 90
FCCM.NEO Calmar Ratio Rank: 80
FCCM.NEO Martin Ratio Rank: 86

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. FCCM.NEO - 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 Momentum Index ETF (FCCM.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.

	FCUH.TO	FCCM.NEO	Difference
Sharpe ratio: Return per unit of total volatility	0.84	2.51	-1.67
Sortino ratio: Return per unit of downside risk	1.19	3.32	-2.13
Omega ratio: Gain probability vs. loss probability	1.18	1.46	-0.28
Calmar ratio: Return relative to maximum drawdown	1.45	3.34	-1.89
Martin ratio: Return relative to average drawdown	4.41	13.98	-9.57

FCUH.TO vs. FCCM.NEO - Sharpe Ratio Comparison

The current FCUH.TO Sharpe Ratio is 0.84, which is lower than the FCCM.NEO Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of FCUH.TO and FCCM.NEO, 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. FCCM.NEO - Drawdown Comparison

The maximum FCUH.TO drawdown since its inception was -45.06%, which is greater than FCCM.NEO's maximum drawdown of -16.59%. Use the drawdown chart below to compare losses from any high point for FCUH.TO and FCCM.NEO.

Drawdown Indicators

	FCUH.TO	FCCM.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-45.06%	-16.59%	-28.47%
Max Drawdown (1Y) Largest decline over 1 year	-7.22%	-12.36%	+5.14%
Max Drawdown (3Y) Largest decline over 3 years	-16.03%	-12.36%	-3.67%
Max Drawdown (5Y) Largest decline over 5 years	-21.80%	-16.59%	-5.21%
Current Drawdown Current decline from peak	-1.29%	-0.95%	-0.34%
Average Drawdown Average peak-to-trough decline	-6.07%	-2.59%	-3.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	2.95%	-0.58%

Volatility

FCUH.TO vs. FCCM.NEO - Volatility Comparison

The current volatility for Fidelity U.S. High Dividend Currency Neutral ETF (FCUH.TO) is 2.55%, while Fidelity Canadian Momentum Index ETF (FCCM.NEO) has a volatility of 2.95%. This indicates that FCUH.TO experiences smaller price fluctuations and is considered to be less risky than FCCM.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCUH.TO	FCCM.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	2.95%	-0.40%
Volatility (6M) Calculated over the trailing 6-month period	6.36%	13.53%	-7.17%
Volatility (1Y) Calculated over the trailing 1-year period	12.43%	16.44%	-4.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.12%	13.70%	+1.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.14%	13.49%	+6.65%

FCUH.TO vs. FCCM.NEO - Expense Ratio Comparison

Both FCUH.TO and FCCM.NEO have an expense ratio of 0.38%.

Dividends

FCUH.TO vs. FCCM.NEO - Dividend Comparison

FCUH.TO's dividend yield for the trailing twelve months is around 2.48%, more than FCCM.NEO's 0.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FCCM.NEO Fidelity Canadian Momentum Index ETF	0.82%	0.91%	0.91%	1.32%	1.79%	1.49%	0.78%	0.00%	0.00%
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 FCCM.NEO in my portfolio?

FCUH.TO and FCCM.NEO have a correlation of 0.13, 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 FCCM.NEO?

Both ETFs have the same 0.38% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FCUH.TO or FCCM.NEO?

FCUH.TO and FCCM.NEO have the same expense ratio: 0.38% per year.

What is the main difference between FCUH.TO and FCCM.NEO?

FCUH.TO is categorized as Dividend, while FCCM.NEO is Momentum.