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FGLS.NEO vs. IDUB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FGLS.NEO vs. IDUB

Last updated Jul 3, 2026
See Documentation

FGLS.NEO (Fidelity Global Value Long/Short Alternative ETF) and IDUB (Aptus International Enhanced Yield ETF) are both Long-Short funds. Both are actively managed. Over the past year, FGLS.NEO returned 3.00% vs 34.26% for IDUB. At a correlation of -0.21, they often move in opposite directions. FGLS.NEO charges 1.51%/yr vs 0.45%/yr for IDUB.

Performance

FGLS.NEO vs. IDUB - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity Global Value Long/Short Alternative ETF (FGLS.NEO) and Aptus International Enhanced Yield ETF (IDUB). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, FGLS.NEO achieves a 0.47% return, which is significantly lower than IDUB's 19.61% return.

FGLS.NEO

1D
5.54%
1M
11.00%
6M
0.47%
YTD
0.47%
1Y
3.00%
3Y*
—
5Y*
—
10Y*
—

IDUB

1D
-0.28%
1M
0.98%
6M
19.61%
YTD
19.61%
1Y
34.26%
3Y*
19.79%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

FGLS.NEO vs. IDUB - Yearly Performance Comparison

2026 (YTD)20252024
FGLS.NEO
Fidelity Global Value Long/Short Alternative ETF		0.47%8.38%-21.20%
IDUB
Aptus International Enhanced Yield ETF		19.61%21.70%14.66%

Correlation

The correlation between FGLS.NEO and IDUB is -0.32, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.32

Correlation (All Time)
Calculated using the full available price history since Feb 1, 2024

-0.21

The correlation between FGLS.NEO and IDUB shifts across timeframes, from -0.32 (1 year) to -0.21 (all time), reflecting how their relationship changes across market environments.

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Fidelity Global Value Long/Short Alternative ETF

Aptus International Enhanced Yield ETF

Often compared with IDUB:
IDUB vs. QLEIXIDUB vs. HYEMIDUB vs. FTLSIDUB vs. IDVOIDUB vs. WTMFIDUB vs. SPYIDUB vs. ORR

Return for Risk

FGLS.NEO vs. IDUB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FGLS.NEO
FGLS.NEO Risk / Return Rank: 1010
Overall Rank
FGLS.NEO Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
FGLS.NEO Sortino Ratio Rank: 1010
Sortino Ratio Rank
FGLS.NEO Omega Ratio Rank: 1010
Omega Ratio Rank
FGLS.NEO Calmar Ratio Rank: 1010
Calmar Ratio Rank
FGLS.NEO Martin Ratio Rank: 1010
Martin Ratio Rank
IDUB
IDUB Risk / Return Rank: 6464
Overall Rank
IDUB Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
IDUB Sortino Ratio Rank: 6363
Sortino Ratio Rank
IDUB Omega Ratio Rank: 6565
Omega Ratio Rank
IDUB Calmar Ratio Rank: 6161
Calmar Ratio Rank
IDUB Martin Ratio Rank: 6666
Martin Ratio Rank
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.

FGLS.NEO vs. IDUB - 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 Aptus International Enhanced Yield ETF (IDUB). 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.NEOIDUBDifference
Sharpe ratioReturn per unit of total volatility
0.12
2.05

-1.93

Sortino ratioReturn per unit of downside risk
0.36
2.82

-2.46

Omega ratioGain probability vs. loss probability

1.04

1.37

-0.32

Calmar ratioReturn relative to maximum drawdown

0.14

3.19

-3.04

Martin ratioReturn relative to average drawdown

0.30

12.15

-11.85

FGLS.NEO vs. IDUB - Sharpe Ratio Comparison

The current FGLS.NEO Sharpe Ratio is 0.12, which is lower than the IDUB Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of FGLS.NEO and IDUB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FGLS.NEO vs. IDUB - Drawdown Comparison

The maximum FGLS.NEO drawdown since its inception was -25.89%, which is greater than IDUB's maximum drawdown of -22.87%. Use the drawdown chart below to compare losses from any high point for FGLS.NEO and IDUB.

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Drawdown Indicators

FGLS.NEOIDUBDifference

Max Drawdown

Largest peak-to-trough decline

-25.89%

-22.87%

-3.02%

Max Drawdown (1Y)

Largest decline over 1 year

-21.12%

-10.80%

-10.32%

Max Drawdown (3Y)

Largest decline over 3 years

—

-13.44%

—

Current Drawdown

Current decline from peak

-14.30%

-1.65%

-12.65%

Average Drawdown

Average peak-to-trough decline

-14.47%

-7.54%

-6.93%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.07%

2.83%

+7.24%

Volatility

FGLS.NEO vs. IDUB - Volatility Comparison

Fidelity Global Value Long/Short Alternative ETF (FGLS.NEO) has a higher volatility of 10.82% compared to Aptus International Enhanced Yield ETF (IDUB) at 6.72%. This indicates that FGLS.NEO's price experiences larger fluctuations and is considered to be riskier than IDUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FGLS.NEOIDUBDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.82%

6.72%

+4.10%

Volatility (6M)

Calculated over the trailing 6-month period

19.47%

14.71%

+4.76%

Volatility (1Y)

Calculated over the trailing 1-year period

26.20%

16.82%

+9.38%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.51%

16.00%

+7.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.51%

16.00%

+7.51%

FGLS.NEO vs. IDUB - Expense Ratio Comparison

FGLS.NEO has a 1.51% expense ratio, which is higher than IDUB's 0.45% expense ratio.

Dividends

FGLS.NEO vs. IDUB - Dividend Comparison

FGLS.NEO has not paid dividends to shareholders, while IDUB's dividend yield for the trailing twelve months is around 4.59%.

PositionTTM20252024202320222021
FGLS.NEO
Fidelity Global Value Long/Short Alternative ETF		0.00%0.00%0.00%0.00%0.00%0.00%
IDUB
Aptus International Enhanced Yield ETF		4.59%4.90%5.64%3.71%2.62%1.38%

Frequently Asked Questions

FGLS.NEO and IDUB have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IDUB is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IDUB is cheaper with a 0.45% expense ratio, compared with 1.51% for FGLS.NEO.

They also come from different issuers: Fidelity and Aptus. Their fees differ too: 1.51% for FGLS.NEO and 0.45% for IDUB.

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