FCUV.TO vs. PMIF-U.TO

Last updated Jun 4, 2026

FCUV.TO (Fidelity U.S. Value ETF) and PMIF-U.TO (PIMCO Monthly Income Fund (Canada)) are both exchange-traded funds - FCUV.TO is a Large Cap Value Equities fund tracking the Fidelity Canada U.S. Value Index, while PMIF-U.TO is a Multisector Bonds fund actively managed by PIMCO. FCUV.TO is passively managed, while PMIF-U.TO is actively managed. Over the past 5 years, FCUV.TO returned 21.89%/yr vs 5.53%/yr for PMIF-U.TO. At a correlation of -0.03, they often move in opposite directions. FCUV.TO charges 0.38%/yr vs 0.84%/yr for PMIF-U.TO.

Performance

FCUV.TO vs. PMIF-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity U.S. Value ETF (FCUV.TO) and PIMCO Monthly Income Fund (Canada) (PMIF-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FCUV.TO is traded in CAD, while PMIF-U.TO is traded in USD. To make them comparable, the PMIF-U.TO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, FCUV.TO achieves a 15.14% return, which is significantly higher than PMIF-U.TO's 1.73% return.

FCUV.TO

• 1D: 0.33%
• 1M: 8.58%
• YTD: 15.14%
• 6M: 12.61%
• 1Y: 34.52%
• 3Y*: 26.57%
• 5Y*: 21.89%
• 10Y*: —

PMIF-U.TO

• 1D: 0.11%
• 1M: 2.56%
• YTD: 1.73%
• 6M: 0.10%
• 1Y: 8.30%
• 3Y*: 7.40%
• 5Y*: 5.53%
• 10Y*: —

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

FCUV.TO vs. PMIF-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FCUV.TO Fidelity U.S. Value ETF	15.14%	14.80%	35.81%	19.98%	2.58%	38.55%	10.80%
PMIF-U.TO PIMCO Monthly Income Fund (Canada)	1.73%	4.02%	12.75%	4.86%	-1.40%	1.14%	0.50%

Correlation

The correlation between FCUV.TO and PMIF-U.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (5Y) Calculated over the trailing 5-year period	-0.04
Correlation (All Time) Calculated using the full available price history since Jun 11, 2020	-0.03

The correlation between FCUV.TO and PMIF-U.TO shifts across timeframes, from -0.04 (5 years) to 0.18 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FCUV.TO vs. PMIF-U.TO — Risk / Return Rank

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

FCUV.TO

FCUV.TO Risk / Return Rank: 79
FCUV.TO Sharpe Ratio Rank: 75
FCUV.TO Sortino Ratio Rank: 73
FCUV.TO Omega Ratio Rank: 73
FCUV.TO Calmar Ratio Rank: 88
FCUV.TO Martin Ratio Rank: 86

PMIF-U.TO

PMIF-U.TO Risk / Return Rank: 57
PMIF-U.TO Sharpe Ratio Rank: 62
PMIF-U.TO Sortino Ratio Rank: 66
PMIF-U.TO Omega Ratio Rank: 64
PMIF-U.TO Calmar Ratio Rank: 44
PMIF-U.TO Martin Ratio Rank: 51

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.

FCUV.TO vs. PMIF-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity U.S. Value ETF (FCUV.TO) and PIMCO Monthly Income Fund (Canada) (PMIF-U.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.

	FCUV.TO	PMIF-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.46	1.61	+0.85
Sortino ratio: Return per unit of downside risk	3.33	2.43	+0.90
Omega ratio: Gain probability vs. loss probability	1.44	1.29	+0.15
Calmar ratio: Return relative to maximum drawdown	5.18	2.33	+2.84
Martin ratio: Return relative to average drawdown	18.28	5.36	+12.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCUV.TO vs. PMIF-U.TO - Sharpe Ratio Comparison

The current FCUV.TO Sharpe Ratio is 2.46, which is higher than the PMIF-U.TO Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of FCUV.TO and PMIF-U.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.

Sharpe Ratios by Period

	FCUV.TO	PMIF-U.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.46	1.61	+0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.45	0.82	+0.64
Sharpe Ratio (All Time) Calculated using the full available price history	1.55	0.59	+0.96

Drawdowns

FCUV.TO vs. PMIF-U.TO - Drawdown Comparison

The maximum FCUV.TO drawdown since its inception was -16.47%, which is greater than PMIF-U.TO's maximum drawdown of -12.80%. Use the drawdown chart below to compare losses from any high point for FCUV.TO and PMIF-U.TO.

Drawdown Indicators

	FCUV.TO	PMIF-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-16.47%	-12.80%	-3.67%
Max Drawdown (1Y) Largest decline over 1 year	-6.70%	-3.57%	-3.13%
Max Drawdown (3Y) Largest decline over 3 years	-16.47%	-6.47%	-10.00%
Max Drawdown (5Y) Largest decline over 5 years	-16.47%	-8.75%	-7.72%
Current Drawdown Current decline from peak	-1.17%	-0.78%	-0.39%
Average Drawdown Average peak-to-trough decline	-2.52%	-2.69%	+0.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	1.55%	+0.35%

Volatility

FCUV.TO vs. PMIF-U.TO - Volatility Comparison

Fidelity U.S. Value ETF (FCUV.TO) has a higher volatility of 5.31% compared to PIMCO Monthly Income Fund (Canada) (PMIF-U.TO) at 1.41%. This indicates that FCUV.TO's price experiences larger fluctuations and is considered to be riskier than PMIF-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCUV.TO	PMIF-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	1.41%	+3.90%
Volatility (6M) Calculated over the trailing 6-month period	10.95%	3.83%	+7.12%
Volatility (1Y) Calculated over the trailing 1-year period	14.13%	5.17%	+8.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.14%	7.65%	+7.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.72%	8.92%	+5.80%

FCUV.TO vs. PMIF-U.TO - Expense Ratio Comparison

FCUV.TO has a 0.38% expense ratio, which is lower than PMIF-U.TO's 0.84% expense ratio.

Dividends

FCUV.TO vs. PMIF-U.TO - Dividend Comparison

FCUV.TO's dividend yield for the trailing twelve months is around 0.91%, less than PMIF-U.TO's 3.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FCUV.TO Fidelity U.S. Value ETF	0.91%	1.13%	1.03%	1.42%	2.71%	1.40%	1.14%	0.00%	0.00%
PMIF-U.TO PIMCO Monthly Income Fund (Canada)	3.94%	3.96%	4.91%	4.53%	2.82%	2.40%	2.68%	2.38%	0.59%

Frequently Asked Questions

Can I hold both FCUV.TO and PMIF-U.TO in my portfolio?

FCUV.TO and PMIF-U.TO have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FCUV.TO or PMIF-U.TO?

On fees, FCUV.TO is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FCUV.TO or PMIF-U.TO?

FCUV.TO is cheaper with a 0.38% expense ratio, compared with 0.84% for PMIF-U.TO.

What is the main difference between FCUV.TO and PMIF-U.TO?

FCUV.TO is categorized as Large Cap Value Equities, while PMIF-U.TO is Multisector Bonds. They also come from different issuers: Fidelity and PIMCO. Their fees differ too: 0.38% for FCUV.TO and 0.84% for PMIF-U.TO.