FGEP.TO vs. FEQT.NEO

Last updated Jun 4, 2026

FGEP.TO (Fidelity Global Equity+ Fund ETF) and FEQT.NEO (Fidelity All-in-One Equity ETF Fund) are both exchange-traded funds - FGEP.TO is a Global Equities fund actively managed by Fidelity, while FEQT.NEO is a Diversified Portfolio fund actively managed by Fidelity. Both are actively managed. Over the past year, FGEP.TO returned 33.16% vs 24.74% for FEQT.NEO. A 0.78 correlation means they provide meaningful diversification when combined. FGEP.TO charges 1.16%/yr vs 0.43%/yr for FEQT.NEO.

Performance

FGEP.TO vs. FEQT.NEO - Performance Comparison

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

Returns By Period

In the year-to-date period, FGEP.TO achieves a 16.78% return, which is significantly higher than FEQT.NEO's 10.30% return.

FGEP.TO

• 1D: -0.40%
• 1M: 6.04%
• YTD: 16.78%
• 6M: 17.33%
• 1Y: 33.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FEQT.NEO

• 1D: -0.38%
• 1M: 4.01%
• YTD: 10.30%
• 6M: 10.63%
• 1Y: 24.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025	2024
FGEP.TO Fidelity Global Equity+ Fund ETF	16.78%	17.44%	9.99%
FEQT.NEO Fidelity All-in-One Equity ETF Fund	10.30%	19.42%	12.55%

Correlation

The correlation between FGEP.TO and FEQT.NEO is 0.79, 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	0.79
Correlation (All Time) Calculated using the full available price history since May 23, 2024	0.78

The correlation between FGEP.TO and FEQT.NEO has been stable across timeframes, ranging from 0.78 to 0.79 - a consistent structural relationship.

Return for Risk

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

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

FGEP.TO

FGEP.TO Risk / Return Rank: 89
FGEP.TO Sharpe Ratio Rank: 91
FGEP.TO Sortino Ratio Rank: 91
FGEP.TO Omega Ratio Rank: 91
FGEP.TO Calmar Ratio Rank: 85
FGEP.TO Martin Ratio Rank: 89

FEQT.NEO

FEQT.NEO Risk / Return Rank: 66
FEQT.NEO Sharpe Ratio Rank: 67
FEQT.NEO Sortino Ratio Rank: 68
FEQT.NEO Omega Ratio Rank: 69
FEQT.NEO Calmar Ratio Rank: 60
FEQT.NEO Martin Ratio Rank: 69

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.

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

This table presents a comparison of risk-adjusted performance metrics for Fidelity Global Equity+ Fund ETF (FGEP.TO) and Fidelity All-in-One Equity ETF Fund (FEQT.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.

	FGEP.TO	FEQT.NEO	Difference
Sharpe ratio: Return per unit of total volatility	3.19	2.26	+0.93
Sortino ratio: Return per unit of downside risk	4.40	3.17	+1.23
Omega ratio: Gain probability vs. loss probability	1.61	1.42	+0.18
Calmar ratio: Return relative to maximum drawdown	4.67	2.99	+1.68
Martin ratio: Return relative to average drawdown	19.65	12.96	+6.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current FGEP.TO Sharpe Ratio is 3.19, which is higher than the FEQT.NEO Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of FGEP.TO and FEQT.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

	FGEP.TO	FEQT.NEO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.19	2.26	+0.93
Sharpe Ratio (All Time) Calculated using the full available price history	1.78	1.77	+0.01

Drawdowns

FGEP.TO vs. FEQT.NEO - Drawdown Comparison

The maximum FGEP.TO drawdown since its inception was -14.78%, which is greater than FEQT.NEO's maximum drawdown of -13.24%. Use the drawdown chart below to compare losses from any high point for FGEP.TO and FEQT.NEO.

Drawdown Indicators

	FGEP.TO	FEQT.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-14.78%	-13.24%	-1.54%
Max Drawdown (1Y) Largest decline over 1 year	-7.14%	-8.31%	+1.17%
Current Drawdown Current decline from peak	-0.66%	-1.02%	+0.36%
Average Drawdown Average peak-to-trough decline	-1.64%	-1.45%	-0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	1.91%	-0.22%

Volatility

FGEP.TO vs. FEQT.NEO - Volatility Comparison

Fidelity Global Equity+ Fund ETF (FGEP.TO) and Fidelity All-in-One Equity ETF Fund (FEQT.NEO) have volatilities of 3.81% and 3.89%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGEP.TO	FEQT.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.81%	3.89%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	8.34%	8.88%	-0.54%
Volatility (1Y) Calculated over the trailing 1-year period	10.47%	11.01%	-0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.70%	12.45%	+0.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.70%	12.45%	+0.25%

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

FGEP.TO has a 1.16% expense ratio, which is higher than FEQT.NEO's 0.43% expense ratio.

Dividends

FGEP.TO vs. FEQT.NEO - Dividend Comparison

FGEP.TO has not paid dividends to shareholders, while FEQT.NEO's dividend yield for the trailing twelve months is around 0.82%.

Position	TTM	2025	2024
FEQT.NEO Fidelity All-in-One Equity ETF Fund	0.82%	0.91%	0.91%
FGEP.TO Fidelity Global Equity+ Fund ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

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

FGEP.TO and FEQT.NEO have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, FEQT.NEO is cheaper at 0.43% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FGEP.TO or FEQT.NEO?

FEQT.NEO is cheaper with a 0.43% expense ratio, compared with 1.16% for FGEP.TO.

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

FGEP.TO is categorized as Global Equities, while FEQT.NEO is Diversified Portfolio. Their fees differ too: 1.16% for FGEP.TO and 0.43% for FEQT.NEO.