FEAC vs. CLU.NEO

Last updated Jun 4, 2026

FEAC (Fidelity Enhanced U.S. All-Cap Equity ETF) and CLU.NEO (iShares US Fundamental Index ETF (CAD-Hedged) Common Class) are both Large Cap Blend Equities funds. FEAC is actively managed, while CLU.NEO is passively managed. Over the past year, FEAC returned 30.36% vs 23.56% for CLU.NEO. A 0.56 correlation means they provide meaningful diversification when combined. FEAC charges 0.18%/yr vs 0.72%/yr for CLU.NEO.

Performance

FEAC vs. CLU.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Enhanced U.S. All-Cap Equity ETF (FEAC) and iShares US Fundamental Index ETF (CAD-Hedged) Common Class (CLU.NEO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FEAC is traded in USD, while CLU.NEO is traded in CAD. To make them comparable, the CLU.NEO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, FEAC achieves a 12.42% return, which is significantly higher than CLU.NEO's 7.34% return.

FEAC

• 1D: -0.54%
• 1M: 6.25%
• YTD: 12.42%
• 6M: 13.00%
• 1Y: 30.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CLU.NEO

• 1D: -0.57%
• 1M: -0.54%
• YTD: 7.34%
• 6M: 10.67%
• 1Y: 23.56%
• 3Y*: 15.62%
• 5Y*: 6.28%
• 10Y*: 10.22%

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

FEAC vs. CLU.NEO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FEAC Fidelity Enhanced U.S. All-Cap Equity ETF	12.42%	18.01%	-1.69%
CLU.NEO iShares US Fundamental Index ETF (CAD-Hedged) Common Class	7.34%	20.72%	-6.87%

Correlation

The correlation between FEAC and CLU.NEO is 0.57, 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	0.57
Correlation (All Time) Calculated using the full available price history since Nov 22, 2024	0.56

The correlation between FEAC and CLU.NEO has been stable across timeframes, ranging from 0.56 to 0.57 - a consistent structural relationship.

Return for Risk

FEAC vs. CLU.NEO — Risk / Return Rank

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

FEAC

FEAC Risk / Return Rank: 76
FEAC Sharpe Ratio Rank: 75
FEAC Sortino Ratio Rank: 74
FEAC Omega Ratio Rank: 72
FEAC Calmar Ratio Rank: 75
FEAC Martin Ratio Rank: 82

CLU.NEO

CLU.NEO Risk / Return Rank: 81
CLU.NEO Sharpe Ratio Rank: 78
CLU.NEO Sortino Ratio Rank: 84
CLU.NEO Omega Ratio Rank: 87
CLU.NEO Calmar Ratio Rank: 77
CLU.NEO Martin Ratio Rank: 78

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.

FEAC vs. CLU.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced U.S. All-Cap Equity ETF (FEAC) and iShares US Fundamental Index ETF (CAD-Hedged) Common Class (CLU.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.

	FEAC	CLU.NEO	Difference
Sharpe ratio Return per unit of total volatility	2.44	2.04	+0.40
Sortino ratio Return per unit of downside risk	3.33	3.03	+0.30
Omega ratio Gain probability vs. loss probability	1.43	1.38	+0.05
Calmar ratio Return relative to maximum drawdown	3.74	2.67	+1.07
Martin ratio Return relative to average drawdown	16.36	10.24	+6.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEAC vs. CLU.NEO - Sharpe Ratio Comparison

The current FEAC Sharpe Ratio is 2.44, which is comparable to the CLU.NEO Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of FEAC and CLU.NEO, 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

	FEAC	CLU.NEO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.44	2.04	+0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.35	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.10	0.47	+0.62

Drawdowns

FEAC vs. CLU.NEO - Drawdown Comparison

The maximum FEAC drawdown since its inception was -18.96%, smaller than the maximum CLU.NEO drawdown of -45.80%. Use the drawdown chart below to compare losses from any high point for FEAC and CLU.NEO.

Drawdown Indicators

	FEAC	CLU.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-18.96%	-45.80%	+26.84%
Max Drawdown (1Y) Largest decline over 1 year	-8.15%	-8.87%	+0.72%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.06%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.75%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.80%	—
Current Drawdown Current decline from peak	-0.54%	-1.35%	+0.81%
Average Drawdown Average peak-to-trough decline	-2.55%	-8.55%	+6.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	2.31%	-0.45%

Volatility

FEAC vs. CLU.NEO - Volatility Comparison

Fidelity Enhanced U.S. All-Cap Equity ETF (FEAC) has a higher volatility of 3.10% compared to iShares US Fundamental Index ETF (CAD-Hedged) Common Class (CLU.NEO) at 2.43%. This indicates that FEAC's price experiences larger fluctuations and is considered to be riskier than CLU.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEAC	CLU.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.10%	2.43%	+0.67%
Volatility (6M) Calculated over the trailing 6-month period	9.15%	8.33%	+0.82%
Volatility (1Y) Calculated over the trailing 1-year period	12.51%	11.60%	+0.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.50%	18.03%	-0.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.50%	21.54%	-4.04%

FEAC vs. CLU.NEO - Expense Ratio Comparison

FEAC has a 0.18% expense ratio, which is lower than CLU.NEO's 0.72% expense ratio.

Dividends

FEAC vs. CLU.NEO - Dividend Comparison

FEAC's dividend yield for the trailing twelve months is around 0.85%, less than CLU.NEO's 1.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CLU.NEO iShares US Fundamental Index ETF (CAD-Hedged) Common Class	1.20%	1.31%	1.32%	1.35%	1.63%	1.19%	1.66%	1.46%	1.77%	1.46%	1.63%	1.87%
FEAC Fidelity Enhanced U.S. All-Cap Equity ETF	0.85%	0.94%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FEAC and CLU.NEO in my portfolio?

FEAC and CLU.NEO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FEAC or CLU.NEO?

On fees, FEAC is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FEAC or CLU.NEO?

FEAC is cheaper with a 0.18% expense ratio, compared with 0.72% for CLU.NEO.

What is the main difference between FEAC and CLU.NEO?

They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.18% for FEAC and 0.72% for CLU.NEO.