FEQT.NEO vs. ZMI.TO

Last updated Jun 5, 2026

FEQT.NEO (Fidelity All-in-One Equity ETF Fund) and ZMI.TO (BMO Monthly Income ETF) are both Diversified Portfolio funds. Both are actively managed. Over the past year, FEQT.NEO returned 25.84% vs 16.07% for ZMI.TO. A 0.76 correlation means they provide meaningful diversification when combined. FEQT.NEO charges 0.43%/yr vs 0.18%/yr for ZMI.TO.

Performance

FEQT.NEO vs. ZMI.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity All-in-One Equity ETF Fund (FEQT.NEO) and BMO Monthly Income ETF (ZMI.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEQT.NEO achieves a 10.90% return, which is significantly higher than ZMI.TO's 9.38% return.

FEQT.NEO

• 1D: 0.54%
• 1M: 4.10%
• YTD: 10.90%
• 6M: 10.77%
• 1Y: 25.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZMI.TO

• 1D: 0.30%
• 1M: 4.20%
• YTD: 9.38%
• 6M: 6.03%
• 1Y: 16.07%
• 3Y*: 12.51%
• 5Y*: 7.80%
• 10Y*: 6.61%

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

FEQT.NEO vs. ZMI.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FEQT.NEO Fidelity All-in-One Equity ETF Fund	10.90%	19.42%	14.08%
ZMI.TO BMO Monthly Income ETF	9.38%	7.88%	8.33%

Correlation

The correlation between FEQT.NEO and ZMI.TO is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (All Time) Calculated using the full available price history since May 14, 2024	0.76

The correlation between FEQT.NEO and ZMI.TO has been stable across timeframes, ranging from 0.76 to 0.80 - a consistent structural relationship.

Return for Risk

FEQT.NEO vs. ZMI.TO — Risk / Return Rank

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

FEQT.NEO

FEQT.NEO Risk / Return Rank: 72
FEQT.NEO Sharpe Ratio Rank: 74
FEQT.NEO Sortino Ratio Rank: 74
FEQT.NEO Omega Ratio Rank: 75
FEQT.NEO Calmar Ratio Rank: 64
FEQT.NEO Martin Ratio Rank: 73

ZMI.TO

ZMI.TO Risk / Return Rank: 70
ZMI.TO Sharpe Ratio Rank: 70
ZMI.TO Sortino Ratio Rank: 66
ZMI.TO Omega Ratio Rank: 80
ZMI.TO Calmar Ratio Rank: 70
ZMI.TO Martin Ratio Rank: 62

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.

FEQT.NEO vs. ZMI.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity All-in-One Equity ETF Fund (FEQT.NEO) and BMO Monthly Income ETF (ZMI.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.

	FEQT.NEO	ZMI.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.36	2.27	+0.08
Sortino ratio: Return per unit of downside risk	3.30	2.99	+0.31
Omega ratio: Gain probability vs. loss probability	1.44	1.47	-0.03
Calmar ratio: Return relative to maximum drawdown	3.12	3.40	-0.27
Martin ratio: Return relative to average drawdown	13.53	11.09	+2.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEQT.NEO vs. ZMI.TO - Sharpe Ratio Comparison

The current FEQT.NEO Sharpe Ratio is 2.36, which is comparable to the ZMI.TO Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of FEQT.NEO and ZMI.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.

Sharpe Ratios by Period

	FEQT.NEO	ZMI.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	2.27	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.05	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.79	0.77	+1.02

Drawdowns

FEQT.NEO vs. ZMI.TO - Drawdown Comparison

The maximum FEQT.NEO drawdown since its inception was -13.24%, smaller than the maximum ZMI.TO drawdown of -26.65%. Use the drawdown chart below to compare losses from any high point for FEQT.NEO and ZMI.TO.

Drawdown Indicators

	FEQT.NEO	ZMI.TO	Difference
Max Drawdown Largest peak-to-trough decline	-13.24%	-26.65%	+13.41%
Max Drawdown (1Y) Largest decline over 1 year	-8.31%	-4.75%	-3.56%
Max Drawdown (3Y) Largest decline over 3 years	—	-8.81%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-12.65%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-26.65%	—
Current Drawdown Current decline from peak	-0.48%	0.00%	-0.48%
Average Drawdown Average peak-to-trough decline	-1.45%	-2.12%	+0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	1.45%	+0.46%

Volatility

FEQT.NEO vs. ZMI.TO - Volatility Comparison

Fidelity All-in-One Equity ETF Fund (FEQT.NEO) has a higher volatility of 3.90% compared to BMO Monthly Income ETF (ZMI.TO) at 2.26%. This indicates that FEQT.NEO's price experiences larger fluctuations and is considered to be riskier than ZMI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEQT.NEO	ZMI.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	2.26%	+1.64%
Volatility (6M) Calculated over the trailing 6-month period	8.89%	5.81%	+3.08%
Volatility (1Y) Calculated over the trailing 1-year period	11.02%	7.10%	+3.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.44%	7.43%	+5.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.44%	8.87%	+3.57%

FEQT.NEO vs. ZMI.TO - Expense Ratio Comparison

FEQT.NEO has a 0.43% expense ratio, which is higher than ZMI.TO's 0.18% expense ratio.

Dividends

FEQT.NEO vs. ZMI.TO - Dividend Comparison

FEQT.NEO's dividend yield for the trailing twelve months is around 0.82%, less than ZMI.TO's 3.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEQT.NEO Fidelity All-in-One Equity ETF Fund	0.82%	0.91%	0.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ZMI.TO BMO Monthly Income ETF	3.92%	4.54%	4.68%	4.94%	4.49%	3.71%	4.21%	4.24%	4.58%	4.06%	3.89%	3.89%

Frequently Asked Questions

Can I hold both FEQT.NEO and ZMI.TO in my portfolio?

FEQT.NEO and ZMI.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.

Which ETF is better, FEQT.NEO or ZMI.TO?

On fees, ZMI.TO 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, FEQT.NEO or ZMI.TO?

ZMI.TO is cheaper with a 0.18% expense ratio, compared with 0.43% for FEQT.NEO.

What is the main difference between FEQT.NEO and ZMI.TO?

They also come from different issuers: Fidelity and BMO. Their fees differ too: 0.43% for FEQT.NEO and 0.18% for ZMI.TO.