FGEP.TO vs. PZW.TO
FGEP.TO (Fidelity Global Equity+ Fund ETF) and PZW.TO (Invesco FTSE RAFI Global Small-Mid ETF) are both Global Equities funds. FGEP.TO is actively managed, while PZW.TO is passively managed. Over the past year, FGEP.TO returned 31.91% vs 34.57% for PZW.TO. At a 0.34 correlation, their price movements are largely independent.
Performance
FGEP.TO vs. PZW.TO - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both stocks are quite close, with FGEP.TO having a 17.01% return and PZW.TO slightly lower at 16.48%.
FGEP.TO
- 1D
- -0.46%
- 1M
- 2.09%
- YTD
- 17.01%
- 6M
- 16.83%
- 1Y
- 31.91%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PZW.TO
- 1D
- 1.10%
- 1M
- 4.21%
- YTD
- 16.48%
- 6M
- 15.19%
- 1Y
- 34.57%
- 3Y*
- 20.29%
- 5Y*
- 10.96%
- 10Y*
- 11.63%
FGEP.TO vs. PZW.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FGEP.TO Fidelity Global Equity+ Fund ETF | 17.01% | 17.44% | 9.88% |
PZW.TO Invesco FTSE RAFI Global Small-Mid ETF | 16.48% | 18.48% | 7.38% |
Correlation
The correlation between FGEP.TO and PZW.TO is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since May 22, 2024 | 0.34 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FGEP.TO vs. PZW.TO — Risk / Return Rank
FGEP.TO
PZW.TO
FGEP.TO vs. PZW.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Global Equity+ Fund ETF (FGEP.TO) and Invesco FTSE RAFI Global Small-Mid ETF (PZW.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.
| FGEP.TO | PZW.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.48 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 4.49 | 4.07 | +0.42 |
| Martin ratioReturn relative to average drawdown | 18.65 | 14.54 | +4.11 |
Loading charts...
Drawdowns
FGEP.TO vs. PZW.TO - Drawdown Comparison
The maximum FGEP.TO drawdown since its inception was -14.78%, smaller than the maximum PZW.TO drawdown of -32.45%. Use the drawdown chart below to compare losses from any high point for FGEP.TO and PZW.TO.
Loading charts...
Drawdown Indicators
| FGEP.TO | PZW.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.78% | -32.45% | +17.67% |
Max Drawdown (1Y)Largest decline over 1 year | -7.14% | -8.50% | +1.36% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.88% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.13% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.45% | — |
Current DrawdownCurrent decline from peak | -2.07% | 0.00% | -2.07% |
Average DrawdownAverage peak-to-trough decline | -1.62% | -5.73% | +4.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.72% | 2.38% | -0.66% |
Volatility
FGEP.TO vs. PZW.TO - Volatility Comparison
Fidelity Global Equity+ Fund ETF (FGEP.TO) has a higher volatility of 4.35% compared to Invesco FTSE RAFI Global Small-Mid ETF (PZW.TO) at 3.07%. This indicates that FGEP.TO's price experiences larger fluctuations and is considered to be riskier than PZW.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FGEP.TO | PZW.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.35% | 3.07% | +1.28% |
Volatility (6M)Calculated over the trailing 6-month period | 9.01% | 10.46% | -1.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.05% | 14.19% | -3.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.80% | 14.66% | -1.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.80% | 15.94% | -3.14% |
Dividends
FGEP.TO vs. PZW.TO - Dividend Comparison
FGEP.TO has not paid dividends to shareholders, while PZW.TO's dividend yield for the trailing twelve months is around 1.67%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FGEP.TO Fidelity Global Equity+ Fund ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PZW.TO Invesco FTSE RAFI Global Small-Mid ETF | 1.67% | 1.97% | 2.12% | 3.23% | 1.90% | 1.93% | 1.52% | 2.26% | 1.78% | 1.57% | 1.09% | 0.96% |
Frequently Asked Questions
FGEP.TO and PZW.TO have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Fidelity and Invesco.
Find the right allocation for FGEP.TO and PZW.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer