FINN.NEO vs. MEQT.TO
FINN.NEO (Fidelity Global Innovators ETF) and MEQT.TO (Mackenzie All-Equity Allocation ETF) are both Global Equities funds. Both are actively managed. Over the past year, FINN.NEO returned 58.67% vs 28.93% for MEQT.TO. At a 0.45 correlation, their price movements are largely independent. FINN.NEO charges 1.09%/yr vs 0.17%/yr for MEQT.TO.
Performance
FINN.NEO vs. MEQT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FINN.NEO achieves a 40.98% return, which is significantly higher than MEQT.TO's 14.10% return.
FINN.NEO
- 1D
- 0.74%
- 1M
- -0.97%
- 6M
- 33.95%
- YTD
- 40.98%
- 1Y
- 58.67%
- 3Y*
- 43.00%
- 5Y*
- —
- 10Y*
- —
MEQT.TO
- 1D
- 0.00%
- 1M
- -0.03%
- 6M
- 10.24%
- YTD
- 14.10%
- 1Y
- 28.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FINN.NEO vs. MEQT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FINN.NEO Fidelity Global Innovators ETF | 40.98% | 20.61% | 58.65% | 3.94% |
MEQT.TO Mackenzie All-Equity Allocation ETF | 14.10% | 21.31% | 25.87% | 2.36% |
Correlation
The correlation between FINN.NEO and MEQT.TO is 0.63, 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 | 0.63 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023 | 0.45 |
The correlation between FINN.NEO and MEQT.TO shifts across timeframes, from 0.45 (all time) to 0.63 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FINN.NEO vs. MEQT.TO — Risk / Return Rank
FINN.NEO
MEQT.TO
FINN.NEO vs. MEQT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Global Innovators ETF (FINN.NEO) and Mackenzie All-Equity Allocation ETF (MEQT.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.
| FINN.NEO | MEQT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.46 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 4.94 | 3.78 | +1.15 |
| Martin ratioReturn relative to average drawdown | 15.51 | 15.77 | -0.26 |
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Drawdowns
FINN.NEO vs. MEQT.TO - Drawdown Comparison
The maximum FINN.NEO drawdown since its inception was -25.66%, which is greater than MEQT.TO's maximum drawdown of -15.14%. Use the drawdown chart below to compare losses from any high point for FINN.NEO and MEQT.TO.
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Drawdown Indicators
| FINN.NEO | MEQT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.66% | -15.14% | -10.52% |
Max Drawdown (1Y)Largest decline over 1 year | -11.94% | -7.68% | -4.26% |
Max Drawdown (3Y)Largest decline over 3 years | -25.66% | — | — |
Current DrawdownCurrent decline from peak | -2.91% | -1.15% | -1.76% |
Average DrawdownAverage peak-to-trough decline | -3.97% | -1.28% | -2.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.79% | 1.84% | +1.95% |
Volatility
FINN.NEO vs. MEQT.TO - Volatility Comparison
Fidelity Global Innovators ETF (FINN.NEO) has a higher volatility of 6.08% compared to Mackenzie All-Equity Allocation ETF (MEQT.TO) at 3.07%. This indicates that FINN.NEO's price experiences larger fluctuations and is considered to be riskier than MEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FINN.NEO | MEQT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.08% | 3.07% | +3.01% |
Volatility (6M)Calculated over the trailing 6-month period | 20.03% | 10.08% | +9.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.62% | 11.84% | +12.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.37% | 12.02% | +10.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.37% | 12.02% | +10.35% |
FINN.NEO vs. MEQT.TO - Expense Ratio Comparison
FINN.NEO has a 1.09% expense ratio, which is higher than MEQT.TO's 0.17% expense ratio.
Dividends
FINN.NEO vs. MEQT.TO - Dividend Comparison
FINN.NEO has not paid dividends to shareholders, while MEQT.TO's dividend yield for the trailing twelve months is around 1.46%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FINN.NEO Fidelity Global Innovators ETF | 0.00% | 0.00% | 0.00% | 0.00% |
MEQT.TO Mackenzie All-Equity Allocation ETF | 1.46% | 1.60% | 1.73% | 0.81% |
Frequently Asked Questions
FINN.NEO and MEQT.TO have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MEQT.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MEQT.TO is cheaper with a 0.17% expense ratio, compared with 1.09% for FINN.NEO.
They also come from different issuers: Fidelity and Mackenzie Investments. Their fees differ too: 1.09% for FINN.NEO and 0.17% for MEQT.TO.
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