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FCUQ.TO vs. TULV.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FCUQ.TO vs. TULV.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity U.S. High Quality ETF (FCUQ.TO) and TD Q U.S. Low Volatility ETF (TULV.TO).

FCUQ.TO and TULV.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FCUQ.TO is a passively managed fund by Fidelity that tracks the performance of the Fidelity Canada U.S. High Quality Index. It was launched on Jan 18, 2019. TULV.TO is an actively managed fund by TD. It was launched on May 26, 2020.

Performance

FCUQ.TO vs. TULV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity U.S. High Quality ETF (FCUQ.TO) and TD Q U.S. Low Volatility ETF (TULV.TO). The values are adjusted to include any dividend payments, if applicable.

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FCUQ.TO vs. TULV.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
FCUQ.TO
Fidelity U.S. High Quality ETF		-5.25%4.67%32.89%20.05%-11.48%31.73%8.95%
TULV.TO
TD Q U.S. Low Volatility ETF		3.26%3.62%23.74%-3.31%2.02%23.84%0.90%

Returns By Period

In the year-to-date period, FCUQ.TO achieves a -5.25% return, which is significantly lower than TULV.TO's 3.26% return.

FCUQ.TO

1D
2.70%
1M
-5.88%
YTD
-5.25%
6M
-7.98%
1Y
0.81%
3Y*
14.38%
5Y*
11.73%
10Y*
—

TULV.TO

1D
0.26%
1M
-3.98%
YTD
3.26%
6M
3.11%
1Y
-0.99%
3Y*
9.28%
5Y*
10.49%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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Fidelity U.S. High Quality ETF

TD Q U.S. Low Volatility ETF

Often compared with FCUQ.TO:
FCUQ.TO vs. VDY.TOFCUQ.TO vs. HULC.TOFCUQ.TO vs. FCUV.TOFCUQ.TO vs. CNCL.TOFCUQ.TO vs. FBTC.TOFCUQ.TO vs. ETSX.TOFCUQ.TO vs. FCID.TO
Often compared with TULV.TO:
TULV.TO vs. TCLV.TOTULV.TO vs. JEPI.TOTULV.TO vs. ZSP-U.TOTULV.TO vs. HULC.TOTULV.TO vs. KNGC.TOTULV.TO vs. ETSX.TOTULV.TO vs. CNCL.TO

FCUQ.TO vs. TULV.TO - Expense Ratio Comparison

Both FCUQ.TO and TULV.TO have an expense ratio of 0.35%.

FCUQ.TO
Fidelity U.S. High Quality ETF
TULV.TO
TD Q U.S. Low Volatility ETF

Return for Risk

FCUQ.TO vs. TULV.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FCUQ.TO
FCUQ.TO Risk / Return Rank: 1313
Overall Rank
FCUQ.TO Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
FCUQ.TO Sortino Ratio Rank: 1212
Sortino Ratio Rank
FCUQ.TO Omega Ratio Rank: 1313
Omega Ratio Rank
FCUQ.TO Calmar Ratio Rank: 1515
Calmar Ratio Rank
FCUQ.TO Martin Ratio Rank: 1515
Martin Ratio Rank
TULV.TO
TULV.TO Risk / Return Rank: 1111
Overall Rank
TULV.TO Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
TULV.TO Sortino Ratio Rank: 99
Sortino Ratio Rank
TULV.TO Omega Ratio Rank: 99
Omega Ratio Rank
TULV.TO Calmar Ratio Rank: 1313
Calmar Ratio Rank
TULV.TO Martin Ratio Rank: 1212
Martin Ratio Rank
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.

FCUQ.TO vs. TULV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity U.S. High Quality ETF (FCUQ.TO) and TD Q U.S. Low Volatility ETF (TULV.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.

FCUQ.TOTULV.TODifference

Sharpe ratio

Return per unit of total volatility

0.05

-0.08

+0.13

Sortino ratio

Return per unit of downside risk

0.18

-0.03

+0.21

Omega ratio

Gain probability vs. loss probability

1.03

1.00

+0.03

Calmar ratio

Return relative to maximum drawdown

0.15

0.05

+0.11

Martin ratio

Return relative to average drawdown

0.45

0.09

+0.36

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCUQ.TO vs. TULV.TO - Sharpe Ratio Comparison

The current FCUQ.TO Sharpe Ratio is 0.05, which is higher than the TULV.TO Sharpe Ratio of -0.08. The chart below compares the historical Sharpe Ratios of FCUQ.TO and TULV.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

FCUQ.TOTULV.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.05

-0.08

+0.13

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.81

0.88

-0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.82

0.76

+0.06

Correlation

The correlation between FCUQ.TO and TULV.TO is 0.23, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FCUQ.TO vs. TULV.TO - Dividend Comparison

FCUQ.TO's dividend yield for the trailing twelve months is around 0.76%, less than TULV.TO's 1.77% yield.

TTM2025202420232022202120202019
FCUQ.TO
Fidelity U.S. High Quality ETF		0.76%0.73%0.77%0.88%1.04%0.79%1.15%0.82%
TULV.TO
TD Q U.S. Low Volatility ETF		1.77%1.80%1.48%1.96%1.57%1.37%0.83%0.00%

Drawdowns

FCUQ.TO vs. TULV.TO - Drawdown Comparison

The maximum FCUQ.TO drawdown since its inception was -25.36%, which is greater than TULV.TO's maximum drawdown of -11.78%. Use the drawdown chart below to compare losses from any high point for FCUQ.TO and TULV.TO.

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Drawdown Indicators

FCUQ.TOTULV.TODifference

Max Drawdown

Largest peak-to-trough decline

-25.36%

-11.78%

-13.58%

Max Drawdown (1Y)

Largest decline over 1 year

-12.14%

-9.87%

-2.27%

Max Drawdown (5Y)

Largest decline over 5 years

-22.73%

-11.78%

-10.95%

Current Drawdown

Current decline from peak

-9.46%

-4.02%

-5.44%

Average Drawdown

Average peak-to-trough decline

-4.31%

-3.58%

-0.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.08%

5.63%

-1.55%

Volatility

FCUQ.TO vs. TULV.TO - Volatility Comparison

Fidelity U.S. High Quality ETF (FCUQ.TO) has a higher volatility of 5.38% compared to TD Q U.S. Low Volatility ETF (TULV.TO) at 3.15%. This indicates that FCUQ.TO's price experiences larger fluctuations and is considered to be riskier than TULV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FCUQ.TOTULV.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.38%

3.15%

+2.23%

Volatility (6M)

Calculated over the trailing 6-month period

9.22%

7.17%

+2.05%

Volatility (1Y)

Calculated over the trailing 1-year period

17.25%

12.02%

+5.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.58%

12.01%

+2.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.41%

11.58%

+5.83%