FCVH.TO vs. XVLU.TO
FCVH.TO (Fidelity U.S. Value Currency Neutral ETF) and XVLU.TO (iShares MSCI USA Value Factor Index ETF) are both Large Cap Value Equities funds. FCVH.TO is actively managed, while XVLU.TO is passively managed. Over the past 5 years, FCVH.TO returned 17.72%/yr vs 18.23%/yr for XVLU.TO. At a 0.39 correlation, their price movements are largely independent. FCVH.TO charges 0.38%/yr vs 0.32%/yr for XVLU.TO.
Performance
FCVH.TO vs. XVLU.TO - 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 XVLU.TO's 43.86% 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*
- —
XVLU.TO
- 1D
- -2.25%
- 1M
- -4.86%
- 6M
- 35.55%
- YTD
- 43.86%
- 1Y
- 73.68%
- 3Y*
- 31.57%
- 5Y*
- 18.23%
- 10Y*
- —
FCVH.TO vs. XVLU.TO - 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% | 18.26% |
XVLU.TO iShares MSCI USA Value Factor Index ETF | 43.86% | 26.17% | 15.37% | 11.09% | -8.87% | 28.64% | 9.31% |
Correlation
The correlation between FCVH.TO and XVLU.TO is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2020 | 0.39 |
Over the past year, FCVH.TO and XVLU.TO have become more correlated (0.68) than their long-term average of 0.39, meaning their price movements have been converging.
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Return for Risk
FCVH.TO vs. XVLU.TO — Risk / Return Rank
FCVH.TO
XVLU.TO
FCVH.TO vs. XVLU.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 iShares MSCI USA Value Factor Index ETF (XVLU.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.TO | XVLU.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.30 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.63 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 4.61 | 9.33 | -4.72 |
| Martin ratioReturn relative to average drawdown | 18.48 | 33.30 | -14.83 |
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Drawdowns
FCVH.TO vs. XVLU.TO - Drawdown Comparison
The maximum FCVH.TO drawdown since its inception was -20.54%, smaller than the maximum XVLU.TO drawdown of -34.40%. Use the drawdown chart below to compare losses from any high point for FCVH.TO and XVLU.TO.
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Drawdown Indicators
| FCVH.TO | XVLU.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.54% | -34.40% | +13.86% |
Max Drawdown (1Y)Largest decline over 1 year | -7.41% | -7.94% | +0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -16.34% | -17.13% | +0.79% |
Max Drawdown (5Y)Largest decline over 5 years | -20.54% | -20.16% | -0.38% |
Current DrawdownCurrent decline from peak | -0.20% | -7.94% | +7.74% |
Average DrawdownAverage peak-to-trough decline | -3.35% | -6.43% | +3.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 2.22% | -0.37% |
Volatility
FCVH.TO vs. XVLU.TO - Volatility Comparison
The current volatility for Fidelity U.S. Value Currency Neutral ETF (FCVH.TO) is 3.25%, while iShares MSCI USA Value Factor Index ETF (XVLU.TO) has a volatility of 8.30%. This indicates that FCVH.TO experiences smaller price fluctuations and is considered to be less risky than XVLU.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.TO | XVLU.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.25% | 8.30% | -5.05% |
Volatility (6M)Calculated over the trailing 6-month period | 10.57% | 16.98% | -6.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.01% | 19.80% | -5.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.66% | 16.53% | +1.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.71% | 19.06% | -1.35% |
FCVH.TO vs. XVLU.TO - Expense Ratio Comparison
FCVH.TO has a 0.38% expense ratio, which is higher than XVLU.TO's 0.32% expense ratio.
Dividends
FCVH.TO vs. XVLU.TO - Dividend Comparison
FCVH.TO's dividend yield for the trailing twelve months is around 0.81%, less than XVLU.TO's 1.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FCVH.TO Fidelity U.S. Value Currency Neutral ETF | 0.81% | 1.01% | 1.07% | 0.88% | 2.91% | 1.15% | 3.34% | 0.00% |
XVLU.TO iShares MSCI USA Value Factor Index ETF | 1.17% | 1.75% | 2.17% | 2.26% | 2.51% | 2.03% | 2.72% | 0.68% |
Frequently Asked Questions
FCVH.TO and XVLU.TO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XVLU.TO is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XVLU.TO is cheaper with a 0.32% expense ratio, compared with 0.38% for FCVH.TO.
They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.38% for FCVH.TO and 0.32% for XVLU.TO.
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