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FCUV.TO vs. XAW.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FCUV.TO vs. XAW.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity U.S. Value ETF (FCUV.TO) and iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO).

FCUV.TO and XAW.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FCUV.TO is a passively managed fund by Fidelity that tracks the performance of the Fidelity Canada U.S. Value Index. It was launched on Jun 5, 2020. XAW.TO is a passively managed fund by iShares that tracks the performance of the Morningstar Gbl GR CAD. It was launched on Feb 10, 2015. Both FCUV.TO and XAW.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FCUV.TO vs. XAW.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 iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)202520242023202220212020
FCUV.TO
Fidelity U.S. Value ETF		1.19%14.80%35.81%19.98%2.58%38.55%10.80%
XAW.TO
iShares Core MSCI All Country World ex Canada Index ETF		-0.55%15.87%26.31%18.45%-11.84%18.38%14.09%

Returns By Period

In the year-to-date period, FCUV.TO achieves a 1.19% return, which is significantly higher than XAW.TO's -0.55% return.

FCUV.TO

1D
0.51%
1M
-2.03%
YTD
1.19%
6M
5.84%
1Y
15.29%
3Y*
21.79%
5Y*
19.38%
10Y*
—

XAW.TO

1D
2.89%
1M
-4.43%
YTD
-0.55%
6M
1.14%
1Y
16.64%
3Y*
17.31%
5Y*
11.27%
10Y*
11.87%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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Fidelity U.S. Value ETF

iShares Core MSCI All Country World ex Canada Index ETF

Often compared with FCUV.TO:
FCUV.TO vs. VGG.TOFCUV.TO vs. VFV.TOFCUV.TO vs. XCV.TOFCUV.TO vs. FXM.TOFCUV.TO vs. XSP.TOFCUV.TO vs. RUD.TOFCUV.TO vs. QQC.TO
Often compared with XAW.TO:
XAW.TO vs. XEQT.TOXAW.TO vs. VXC.TOXAW.TO vs. VEQT.TOXAW.TO vs. XUU.TOXAW.TO vs. XIC.TOXAW.TO vs. XGRO.TOXAW.TO vs. VT

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

FCUV.TO has a 0.38% expense ratio, which is higher than XAW.TO's 0.22% expense ratio.

FCUV.TO
Fidelity U.S. Value ETF
XAW.TO
iShares Core MSCI All Country World ex Canada Index ETF

Return for Risk

FCUV.TO vs. XAW.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: 4949
Overall Rank
FCUV.TO Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
FCUV.TO Sortino Ratio Rank: 4444
Sortino Ratio Rank
FCUV.TO Omega Ratio Rank: 4646
Omega Ratio Rank
FCUV.TO Calmar Ratio Rank: 5757
Calmar Ratio Rank
FCUV.TO Martin Ratio Rank: 5353
Martin Ratio Rank
XAW.TO
XAW.TO Risk / Return Rank: 6161
Overall Rank
XAW.TO Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
XAW.TO Sortino Ratio Rank: 5858
Sortino Ratio Rank
XAW.TO Omega Ratio Rank: 6363
Omega Ratio Rank
XAW.TO Calmar Ratio Rank: 6161
Calmar Ratio Rank
XAW.TO Martin Ratio Rank: 6464
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.

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

This table presents a comparison of risk-adjusted performance metrics for Fidelity U.S. Value ETF (FCUV.TO) and iShares Core MSCI All Country World ex Canada Index ETF (XAW.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.TOXAW.TODifference

Sharpe ratio

Return per unit of total volatility

0.81

0.97

-0.17

Sortino ratio

Return per unit of downside risk

1.20

1.41

-0.21

Omega ratio

Gain probability vs. loss probability

1.17

1.22

-0.05

Calmar ratio

Return relative to maximum drawdown

1.42

1.40

+0.02

Martin ratio

Return relative to average drawdown

5.06

5.92

-0.86

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. XAW.TO - Sharpe Ratio Comparison

The current FCUV.TO Sharpe Ratio is 0.81, which is comparable to the XAW.TO Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of FCUV.TO and XAW.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

FCUV.TOXAW.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.81

0.97

-0.17

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.30

0.84

+0.46

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.79

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.41

0.71

+0.71

Correlation

The correlation between FCUV.TO and XAW.TO is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FCUV.TO vs. XAW.TO - Dividend Comparison

FCUV.TO's dividend yield for the trailing twelve months is around 1.04%, less than XAW.TO's 1.34% yield.

TTM20252024202320222021202020192018201720162015
FCUV.TO
Fidelity U.S. Value ETF		1.04%1.13%1.03%1.42%2.71%1.40%1.14%0.00%0.00%0.00%0.00%0.00%
XAW.TO
iShares Core MSCI All Country World ex Canada Index ETF		1.34%1.33%1.61%1.71%1.79%1.77%1.49%2.02%2.29%1.92%1.80%1.83%

Drawdowns

FCUV.TO vs. XAW.TO - Drawdown Comparison

The maximum FCUV.TO drawdown since its inception was -16.47%, smaller than the maximum XAW.TO drawdown of -27.32%. Use the drawdown chart below to compare losses from any high point for FCUV.TO and XAW.TO.

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Drawdown Indicators

FCUV.TOXAW.TODifference

Max Drawdown

Largest peak-to-trough decline

-16.47%

-27.32%

+10.85%

Max Drawdown (1Y)

Largest decline over 1 year

-11.90%

-12.29%

+0.39%

Max Drawdown (5Y)

Largest decline over 5 years

-16.47%

-21.02%

+4.55%

Max Drawdown (10Y)

Largest decline over 10 years

—

-27.32%

—

Current Drawdown

Current decline from peak

-3.77%

-5.50%

+1.73%

Average Drawdown

Average peak-to-trough decline

-2.58%

-3.96%

+1.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.34%

2.91%

+0.43%

Volatility

FCUV.TO vs. XAW.TO - Volatility Comparison

The current volatility for Fidelity U.S. Value ETF (FCUV.TO) is 4.76%, while iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO) has a volatility of 6.20%. This indicates that FCUV.TO experiences smaller price fluctuations and is considered to be less risky than XAW.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FCUV.TOXAW.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.76%

6.20%

-1.44%

Volatility (6M)

Calculated over the trailing 6-month period

11.30%

9.73%

+1.57%

Volatility (1Y)

Calculated over the trailing 1-year period

19.10%

17.20%

+1.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.00%

13.46%

+1.54%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.72%

15.08%

-0.36%