FCVH.TO vs. FCIM.NEO
FCVH.TO (Fidelity U.S. Value Currency Neutral ETF) and FCIM.NEO (Fidelity International Momentum Index ETF) are both exchange-traded funds - FCVH.TO is a Large Cap Value Equities fund actively managed by Fidelity, while FCIM.NEO is a Momentum fund tracking the Fidelity Canada International Momentum Index. FCVH.TO is actively managed, while FCIM.NEO is passively managed. Over the past 5 years, FCVH.TO returned 17.72%/yr vs 17.67%/yr for FCIM.NEO. At a 0.33 correlation, their price movements are largely independent. FCVH.TO charges 0.38%/yr vs 0.45%/yr for FCIM.NEO.
Performance
FCVH.TO vs. FCIM.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, FCVH.TO achieves a 13.62% return, which is significantly lower than FCIM.NEO's 20.84% return.
FCVH.TO
- 1D
- 0.53%
- 1M
- 1.33%
- 6M
- 11.04%
- YTD
- 13.62%
- 1Y
- 34.00%
- 3Y*
- 22.78%
- 5Y*
- 17.72%
- 10Y*
- —
FCIM.NEO
- 1D
- 0.10%
- 1M
- -2.15%
- 6M
- 11.27%
- YTD
- 20.84%
- 1Y
- 38.88%
- 3Y*
- 29.47%
- 5Y*
- 17.67%
- 10Y*
- —
FCVH.TO vs. FCIM.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FCVH.TO Fidelity U.S. Value Currency Neutral ETF | 13.62% | 22.93% | 23.75% | 21.51% | -5.48% | 38.33% | 18.81% |
FCIM.NEO Fidelity International Momentum Index ETF | 20.84% | 37.03% | 25.38% | 16.54% | -12.40% | 10.86% | 18.15% |
Correlation
The correlation between FCVH.TO and FCIM.NEO is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2020 | 0.33 |
Over the past year, FCVH.TO and FCIM.NEO have become more correlated (0.55) than their long-term average of 0.33, meaning their price movements have been converging.
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Return for Risk
FCVH.TO vs. FCIM.NEO — Risk / Return Rank
FCVH.TO
FCIM.NEO
FCVH.TO vs. FCIM.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity U.S. Value Currency Neutral ETF (FCVH.TO) and Fidelity International Momentum Index ETF (FCIM.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.
| FCVH.TO | FCIM.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.39 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 4.61 | 2.96 | +1.65 |
| Martin ratioReturn relative to average drawdown | 18.48 | 11.29 | +7.18 |
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Drawdowns
FCVH.TO vs. FCIM.NEO - Drawdown Comparison
The maximum FCVH.TO drawdown since its inception was -20.54%, smaller than the maximum FCIM.NEO drawdown of -26.89%. Use the drawdown chart below to compare losses from any high point for FCVH.TO and FCIM.NEO.
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Drawdown Indicators
| FCVH.TO | FCIM.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.54% | -26.89% | +6.35% |
Max Drawdown (1Y)Largest decline over 1 year | -7.41% | -13.21% | +5.80% |
Max Drawdown (3Y)Largest decline over 3 years | -16.34% | -13.21% | -3.13% |
Max Drawdown (5Y)Largest decline over 5 years | -20.54% | -26.89% | +6.35% |
Current DrawdownCurrent decline from peak | -0.20% | -5.21% | +5.01% |
Average DrawdownAverage peak-to-trough decline | -3.35% | -5.38% | +2.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 3.45% | -1.60% |
Volatility
FCVH.TO vs. FCIM.NEO - Volatility Comparison
The current volatility for Fidelity U.S. Value Currency Neutral ETF (FCVH.TO) is 3.25%, while Fidelity International Momentum Index ETF (FCIM.NEO) has a volatility of 6.80%. This indicates that FCVH.TO experiences smaller price fluctuations and is considered to be less risky than FCIM.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCVH.TO | FCIM.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.25% | 6.80% | -3.55% |
Volatility (6M)Calculated over the trailing 6-month period | 10.57% | 17.42% | -6.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.01% | 19.57% | -5.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.66% | 17.55% | +0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.71% | 16.93% | +0.78% |
FCVH.TO vs. FCIM.NEO - Expense Ratio Comparison
FCVH.TO has a 0.38% expense ratio, which is lower than FCIM.NEO's 0.45% expense ratio.
Dividends
FCVH.TO vs. FCIM.NEO - Dividend Comparison
FCVH.TO's dividend yield for the trailing twelve months is around 0.81%, less than FCIM.NEO's 1.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FCIM.NEO Fidelity International Momentum Index ETF | 1.32% | 1.59% | 1.26% | 1.70% | 1.86% | 2.70% | 0.52% |
FCVH.TO Fidelity U.S. Value Currency Neutral ETF | 0.81% | 1.01% | 1.07% | 0.88% | 2.91% | 1.15% | 3.34% |
Frequently Asked Questions
FCVH.TO and FCIM.NEO have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FCVH.TO is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FCVH.TO is cheaper with a 0.38% expense ratio, compared with 0.45% for FCIM.NEO.
FCVH.TO is categorized as Large Cap Value Equities, while FCIM.NEO is Momentum. Their fees differ too: 0.38% for FCVH.TO and 0.45% for FCIM.NEO.
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