FINN.NEO vs. PZW.TO
FINN.NEO (Fidelity Global Innovators ETF) and PZW.TO (Invesco FTSE RAFI Global Small-Mid ETF) are both Global Equities funds. FINN.NEO is actively managed, while PZW.TO is passively managed. Over the past 3 years, FINN.NEO returned 43.00%/yr vs 19.09%/yr for PZW.TO. At a 0.24 correlation, their price movements are largely independent.
Performance
FINN.NEO vs. PZW.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 PZW.TO's 16.55% return.
FINN.NEO
- 1D
- 0.74%
- 1M
- -0.97%
- 6M
- 33.95%
- YTD
- 40.98%
- 1Y
- 58.67%
- 3Y*
- 43.00%
- 5Y*
- —
- 10Y*
- —
PZW.TO
- 1D
- -0.89%
- 1M
- 1.41%
- 6M
- 10.15%
- YTD
- 16.55%
- 1Y
- 28.41%
- 3Y*
- 19.09%
- 5Y*
- 10.71%
- 10Y*
- 11.02%
FINN.NEO vs. PZW.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FINN.NEO Fidelity Global Innovators ETF | 40.98% | 20.61% | 58.65% | 21.40% |
PZW.TO Invesco FTSE RAFI Global Small-Mid ETF | 16.55% | 18.48% | 16.03% | 9.39% |
Correlation
The correlation between FINN.NEO and PZW.TO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since May 19, 2023 | 0.24 |
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Return for Risk
FINN.NEO vs. PZW.TO — Risk / Return Rank
FINN.NEO
PZW.TO
FINN.NEO vs. PZW.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Global Innovators ETF (FINN.NEO) 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.
| FINN.NEO | PZW.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.39 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.94 | 3.36 | +1.58 |
| Martin ratioReturn relative to average drawdown | 15.51 | 11.94 | +3.57 |
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Drawdowns
FINN.NEO vs. PZW.TO - Drawdown Comparison
The maximum FINN.NEO drawdown since its inception was -25.66%, smaller than the maximum PZW.TO drawdown of -32.45%. Use the drawdown chart below to compare losses from any high point for FINN.NEO and PZW.TO.
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Drawdown Indicators
| FINN.NEO | PZW.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.66% | -32.45% | +6.79% |
Max Drawdown (1Y)Largest decline over 1 year | -11.94% | -8.50% | -3.44% |
Max Drawdown (3Y)Largest decline over 3 years | -25.66% | -16.88% | -8.78% |
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 | -2.91% | -2.36% | -0.55% |
Average DrawdownAverage peak-to-trough decline | -3.97% | -5.70% | +1.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.79% | 2.39% | +1.40% |
Volatility
FINN.NEO vs. PZW.TO - Volatility Comparison
Fidelity Global Innovators ETF (FINN.NEO) has a higher volatility of 6.08% compared to Invesco FTSE RAFI Global Small-Mid ETF (PZW.TO) at 3.16%. This indicates that FINN.NEO'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.
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Volatility by Period
| FINN.NEO | PZW.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.08% | 3.16% | +2.92% |
Volatility (6M)Calculated over the trailing 6-month period | 20.03% | 10.33% | +9.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.62% | 14.24% | +10.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.37% | 14.69% | +7.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.37% | 15.86% | +6.51% |
Dividends
FINN.NEO vs. PZW.TO - Dividend Comparison
FINN.NEO has not paid dividends to shareholders, while PZW.TO's dividend yield for the trailing twelve months is around 1.66%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FINN.NEO Fidelity Global Innovators 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 | 1.66% | 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
FINN.NEO and PZW.TO have a correlation of 0.20, 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.
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