FGLS.NEO vs. ARB.TO
FGLS.NEO (Fidelity Global Value Long/Short Alternative ETF) and ARB.TO (Accelerate Arbitrage Fund) are both Long-Short funds. FGLS.NEO is actively managed, while ARB.TO is passively managed. Over the past year, FGLS.NEO returned 3.00% vs 3.74% for ARB.TO. At a correlation of -0.02, they often move in opposite directions. FGLS.NEO charges 1.51%/yr vs 1.38%/yr for ARB.TO.
Performance
FGLS.NEO vs. ARB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FGLS.NEO achieves a 0.47% return, which is significantly lower than ARB.TO's 1.82% return.
FGLS.NEO
- 1D
- 5.54%
- 1M
- 11.00%
- 6M
- 0.47%
- YTD
- 0.47%
- 1Y
- 3.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ARB.TO
- 1D
- 0.47%
- 1M
- 0.91%
- 6M
- 1.82%
- YTD
- 1.82%
- 1Y
- 3.74%
- 3Y*
- 6.57%
- 5Y*
- 3.84%
- 10Y*
- —
FGLS.NEO vs. ARB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FGLS.NEO Fidelity Global Value Long/Short Alternative ETF | 0.47% | 8.38% | -21.20% |
ARB.TO Accelerate Arbitrage Fund | 1.82% | 10.14% | 5.17% |
Correlation
The correlation between FGLS.NEO and ARB.TO is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2024 | -0.02 |
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Return for Risk
FGLS.NEO vs. ARB.TO — Risk / Return Rank
FGLS.NEO
ARB.TO
FGLS.NEO vs. ARB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Global Value Long/Short Alternative ETF (FGLS.NEO) and Accelerate Arbitrage Fund (ARB.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.
| FGLS.NEO | ARB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.09 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.14 | 1.50 | -1.36 |
| Martin ratioReturn relative to average drawdown | 0.30 | 3.14 | -2.84 |
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Drawdowns
FGLS.NEO vs. ARB.TO - Drawdown Comparison
The maximum FGLS.NEO drawdown since its inception was -25.89%, which is greater than ARB.TO's maximum drawdown of -13.46%. Use the drawdown chart below to compare losses from any high point for FGLS.NEO and ARB.TO.
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Drawdown Indicators
| FGLS.NEO | ARB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.89% | -13.46% | -12.43% |
Max Drawdown (1Y)Largest decline over 1 year | -21.12% | -2.50% | -18.62% |
Max Drawdown (3Y)Largest decline over 3 years | — | -2.50% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.18% | — |
Current DrawdownCurrent decline from peak | -14.30% | -0.36% | -13.94% |
Average DrawdownAverage peak-to-trough decline | -14.47% | -5.71% | -8.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.07% | 1.19% | +8.88% |
Volatility
FGLS.NEO vs. ARB.TO - Volatility Comparison
Fidelity Global Value Long/Short Alternative ETF (FGLS.NEO) has a higher volatility of 10.82% compared to Accelerate Arbitrage Fund (ARB.TO) at 2.05%. This indicates that FGLS.NEO's price experiences larger fluctuations and is considered to be riskier than ARB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FGLS.NEO | ARB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.82% | 2.05% | +8.77% |
Volatility (6M)Calculated over the trailing 6-month period | 19.47% | 5.25% | +14.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.20% | 8.43% | +17.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.51% | 7.18% | +16.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.51% | 8.35% | +15.16% |
FGLS.NEO vs. ARB.TO - Expense Ratio Comparison
FGLS.NEO has a 1.51% expense ratio, which is higher than ARB.TO's 1.38% expense ratio.
Dividends
FGLS.NEO vs. ARB.TO - Dividend Comparison
FGLS.NEO has not paid dividends to shareholders, while ARB.TO's dividend yield for the trailing twelve months is around 3.76%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
ARB.TO Accelerate Arbitrage Fund | 3.76% | 3.75% | 3.98% | 3.56% | 3.09% | 2.63% | 1.24% |
FGLS.NEO Fidelity Global Value Long/Short Alternative ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FGLS.NEO and ARB.TO have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ARB.TO is cheaper at 1.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ARB.TO is cheaper with a 1.38% expense ratio, compared with 1.51% for FGLS.NEO.
Their fees differ too: 1.51% for FGLS.NEO and 1.38% for ARB.TO.
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