FLCA vs. FICDX

Last updated Jun 5, 2026

FLCA (Franklin FTSE Canada ETF) and FICDX (Fidelity Canada Fund) are both funds - FLCA is a Canada Equities fund tracking the FTSE Canada RIC Capped Index, while FICDX is a Foreign Large Cap Equities fund managed by Fidelity. Over the past 5 years, FLCA returned 11.96%/yr vs 10.29%/yr for FICDX. Their correlation of 0.90 suggests significant overlap in exposure. FLCA charges 0.09%/yr vs 0.80%/yr for FICDX.

Performance

FLCA vs. FICDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Canada ETF (FLCA) and Fidelity Canada Fund (FICDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLCA achieves a 10.02% return, which is significantly higher than FICDX's 6.74% return.

FLCA

• 1D: 1.41%
• 1M: 3.13%
• YTD: 10.02%
• 6M: 12.97%
• 1Y: 31.90%
• 3Y*: 22.71%
• 5Y*: 11.96%
• 10Y*: —

FICDX

• 1D: -1.14%
• 1M: 1.50%
• YTD: 6.74%
• 6M: 9.58%
• 1Y: 17.45%
• 3Y*: 16.80%
• 5Y*: 10.29%
• 10Y*: 10.30%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FLCA vs. FICDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLCA Franklin FTSE Canada ETF	10.02%	34.62%	13.02%	14.71%	-11.93%	28.67%	6.31%	28.42%	-15.55%	2.49%
FICDX Fidelity Canada Fund	6.74%	25.86%	9.15%	14.66%	-6.14%	26.86%	4.43%	25.82%	-14.32%	-0.40%

Correlation

The correlation between FLCA and FICDX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Nov 7, 2017	0.90

The correlation between FLCA and FICDX has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.

Return for Risk

FLCA vs. FICDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FLCA

FLCA Risk / Return Rank: 72
FLCA Sharpe Ratio Rank: 71
FLCA Sortino Ratio Rank: 66
FLCA Omega Ratio Rank: 67
FLCA Calmar Ratio Rank: 75
FLCA Martin Ratio Rank: 79

FICDX

FICDX Risk / Return Rank: 27
FICDX Sharpe Ratio Rank: 23
FICDX Sortino Ratio Rank: 21
FICDX Omega Ratio Rank: 22
FICDX Calmar Ratio Rank: 37
FICDX Martin Ratio Rank: 34

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.

FLCA vs. FICDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Canada ETF (FLCA) and Fidelity Canada Fund (FICDX). 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.

	FLCA	FICDX	Difference
Sharpe ratio: Return per unit of total volatility	2.29	1.39	+0.90
Sortino ratio: Return per unit of downside risk	3.01	1.92	+1.08
Omega ratio: Gain probability vs. loss probability	1.39	1.24	+0.15
Calmar ratio: Return relative to maximum drawdown	3.75	2.29	+1.46
Martin ratio: Return relative to average drawdown	15.30	7.59	+7.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLCA vs. FICDX - Sharpe Ratio Comparison

The current FLCA Sharpe Ratio is 2.29, which is higher than the FICDX Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of FLCA and FICDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FLCA	FICDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.29	1.39	+0.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.65	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.48	+0.13

Drawdowns

FLCA vs. FICDX - Drawdown Comparison

The maximum FLCA drawdown since its inception was -41.51%, smaller than the maximum FICDX drawdown of -58.09%. Use the drawdown chart below to compare losses from any high point for FLCA and FICDX.

Drawdown Indicators

	FLCA	FICDX	Difference
Max Drawdown Largest peak-to-trough decline	-41.51%	-58.09%	+16.58%
Max Drawdown (1Y) Largest decline over 1 year	-8.55%	-7.60%	-0.95%
Max Drawdown (3Y) Largest decline over 3 years	-12.58%	-12.06%	-0.52%
Max Drawdown (5Y) Largest decline over 5 years	-24.23%	-21.01%	-3.22%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.85%	—
Current Drawdown Current decline from peak	-0.13%	-1.65%	+1.52%
Average Drawdown Average peak-to-trough decline	-5.90%	-10.52%	+4.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	2.29%	-0.20%

Volatility

FLCA vs. FICDX - Volatility Comparison

Franklin FTSE Canada ETF (FLCA) has a higher volatility of 3.72% compared to Fidelity Canada Fund (FICDX) at 2.83%. This indicates that FLCA's price experiences larger fluctuations and is considered to be riskier than FICDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLCA	FICDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	2.83%	+0.89%
Volatility (6M) Calculated over the trailing 6-month period	11.23%	9.87%	+1.36%
Volatility (1Y) Calculated over the trailing 1-year period	14.00%	12.56%	+1.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.72%	15.96%	+0.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.05%	17.43%	+1.62%

FLCA vs. FICDX - Expense Ratio Comparison

FLCA has a 0.09% expense ratio, which is lower than FICDX's 0.80% expense ratio.

Dividends

FLCA vs. FICDX - Dividend Comparison

FLCA's dividend yield for the trailing twelve months is around 1.69%, less than FICDX's 5.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FICDX Fidelity Canada Fund	5.34%	5.70%	7.44%	3.36%	4.11%	5.16%	2.56%	4.41%	7.33%	0.89%	1.63%	0.15%
FLCA Franklin FTSE Canada ETF	1.69%	1.85%	2.50%	2.49%	2.20%	2.02%	2.49%	2.29%	3.03%	0.09%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLCA and FICDX in my portfolio?

With a correlation of 0.94, FLCA and FICDX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FLCA or FICDX?

FLCA has higher volatility (3.72%) compared to FICDX (2.83%). In terms of maximum drawdown, FLCA dropped -41.51% vs FICDX's -58.09%.

Which has better risk-adjusted returns?

FLCA currently has the higher Sharpe Ratio (2.29 vs 1.39), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.