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

FCVH.TO vs. FCUV.TO

Last updated Jul 16, 2026
Documentation

FCVH.TO (Fidelity U.S. Value Currency Neutral ETF) and FCUV.TO (Fidelity U.S. Value ETF) are both Large Cap Value Equities funds from Fidelity. FCVH.TO is actively managed, while FCUV.TO is passively managed. Over the past 5 years, FCVH.TO returned 17.72%/yr vs 21.12%/yr for FCUV.TO. A 0.53 correlation means they provide meaningful diversification when combined. Both charge a 0.38% expense ratio.

Performance

FCVH.TO vs. FCUV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity U.S. Value Currency Neutral ETF (FCVH.TO) and Fidelity U.S. Value ETF (FCUV.TO). The values are adjusted to include any dividend payments, if applicable.

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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 FCUV.TO's 17.80% 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*
—

FCUV.TO

1D
-0.68%
1M
1.95%
6M
13.24%
YTD
17.80%
1Y
34.68%
3Y*
25.54%
5Y*
21.12%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020
FCVH.TO
Fidelity U.S. Value Currency Neutral ETF		13.62%22.93%23.75%21.51%-5.48%38.33%17.70%
FCUV.TO
Fidelity U.S. Value ETF		17.80%14.83%35.81%19.99%2.58%38.13%13.42%

Correlation

The correlation between FCVH.TO and FCUV.TO is 0.80, 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

0.80

Correlation (3Y)
Calculated over the trailing 3-year period

0.68

Correlation (5Y)
Calculated over the trailing 5-year period

0.56

Correlation (All Time)
Calculated using the full available price history since Jun 10, 2020

0.53

Over the past year, FCVH.TO and FCUV.TO have become more correlated (0.80) than their long-term average of 0.53, meaning their price movements have been converging.

Compare stocks, funds, or ETFs

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Fidelity U.S. Value Currency Neutral ETF

Fidelity U.S. Value ETF

Often compared with FCUV.TO:
FCUV.TO vs. VFV.TOFCUV.TO vs. VGG.TOFCUV.TO vs. XCV.TOFCUV.TO vs. FINN.NEOFCUV.TO vs. XVLU.TOFCUV.TO vs. FXM.TOFCUV.TO vs. XSP.TO

Return for Risk

FCVH.TO vs. FCUV.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FCVH.TO
FCVH.TO Risk / Return Rank: 9090
Overall Rank
FCVH.TO Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
FCVH.TO Sortino Ratio Rank: 9090
Sortino Ratio Rank
FCVH.TO Omega Ratio Rank: 8888
Omega Ratio Rank
FCVH.TO Calmar Ratio Rank: 9191
Calmar Ratio Rank
FCVH.TO Martin Ratio Rank: 9393
Martin Ratio Rank
FCUV.TO
FCUV.TO Risk / Return Rank: 9090
Overall Rank
FCUV.TO Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
FCUV.TO Sortino Ratio Rank: 8888
Sortino Ratio Rank
FCUV.TO Omega Ratio Rank: 8787
Omega Ratio Rank
FCUV.TO Calmar Ratio Rank: 9494
Calmar Ratio Rank
FCUV.TO Martin Ratio Rank: 9292
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.

FCVH.TO vs. FCUV.TO - 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 U.S. Value ETF (FCUV.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.

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.TOFCUV.TODifference
Sharpe ratioReturn per unit of total volatility
2.44
2.33

+0.11

Sortino ratioReturn per unit of downside risk
3.47
3.23

+0.24

Omega ratioGain probability vs. loss probability

1.43

1.42

+0.01

Calmar ratioReturn relative to maximum drawdown

4.61

5.20

-0.59

Martin ratioReturn relative to average drawdown

18.48

17.47

+1.00

FCVH.TO vs. FCUV.TO - Sharpe Ratio Comparison

The current FCVH.TO Sharpe Ratio is 2.44, which is comparable to the FCUV.TO Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of FCVH.TO and FCUV.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.

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Drawdowns

FCVH.TO vs. FCUV.TO - Drawdown Comparison

The maximum FCVH.TO drawdown since its inception was -20.54%, which is greater than FCUV.TO's maximum drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for FCVH.TO and FCUV.TO.

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Drawdown Indicators

FCVH.TOFCUV.TODifference

Max Drawdown

Largest peak-to-trough decline

-20.54%

-16.47%

-4.07%

Max Drawdown (1Y)

Largest decline over 1 year

-7.41%

-6.70%

-0.71%

Max Drawdown (3Y)

Largest decline over 3 years

-16.34%

-16.47%

+0.13%

Max Drawdown (5Y)

Largest decline over 5 years

-20.54%

-16.47%

-4.07%

Current Drawdown

Current decline from peak

-0.20%

-1.60%

+1.40%

Average Drawdown

Average peak-to-trough decline

-3.35%

-2.50%

-0.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.85%

1.99%

-0.14%

Volatility

FCVH.TO vs. FCUV.TO - Volatility Comparison

The current volatility for Fidelity U.S. Value Currency Neutral ETF (FCVH.TO) is 3.25%, while Fidelity U.S. Value ETF (FCUV.TO) has a volatility of 4.64%. This indicates that FCVH.TO experiences smaller price fluctuations and is considered to be less risky than FCUV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FCVH.TOFCUV.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.25%

4.64%

-1.39%

Volatility (6M)

Calculated over the trailing 6-month period

10.57%

11.17%

-0.60%

Volatility (1Y)

Calculated over the trailing 1-year period

14.01%

14.97%

-0.96%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.66%

15.36%

+2.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.71%

14.85%

+2.86%

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

Both FCVH.TO and FCUV.TO have an expense ratio of 0.38%.

Dividends

FCVH.TO vs. FCUV.TO - Dividend Comparison

FCVH.TO's dividend yield for the trailing twelve months is around 0.81%, less than FCUV.TO's 0.88% yield.

PositionTTM202520242023202220212020
FCUV.TO
Fidelity U.S. Value ETF		0.88%1.14%1.03%1.43%2.71%1.10%3.42%
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 FCUV.TO have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

FCVH.TO and FCUV.TO have the same expense ratio: 0.38% per year.

Portfolio Optimizer

Find the right allocation for FCVH.TO and FCUV.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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