FLCI.TO vs. FCSB.NEO
FLCI.TO (Franklin Canadian Corporate Bond Fund ETF) and FCSB.NEO (Fidelity Canadian Short Term Corporate Bond ETF) are both Corporate Bonds funds. FLCI.TO is actively managed, while FCSB.NEO is passively managed. Over the past 5 years, FLCI.TO returned 2.62%/yr vs 2.94%/yr for FCSB.NEO. At a 0.25 correlation, their price movements are largely independent. FLCI.TO charges 0.39%/yr vs 0.44%/yr for FCSB.NEO.
Performance
FLCI.TO vs. FCSB.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, FLCI.TO achieves a 2.06% return, which is significantly higher than FCSB.NEO's 1.52% return.
FLCI.TO
- 1D
- 0.05%
- 1M
- 1.92%
- YTD
- 2.06%
- 6M
- 2.41%
- 1Y
- 6.04%
- 3Y*
- 7.01%
- 5Y*
- 2.62%
- 10Y*
- —
FCSB.NEO
- 1D
- 0.39%
- 1M
- 1.24%
- YTD
- 1.52%
- 6M
- 1.43%
- 1Y
- 3.92%
- 3Y*
- 6.08%
- 5Y*
- 2.94%
- 10Y*
- —
FLCI.TO vs. FCSB.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FLCI.TO Franklin Canadian Corporate Bond Fund ETF | 2.06% | 4.88% | 8.03% | 8.31% | -10.13% | -1.36% | 8.04% | 0.62% |
FCSB.NEO Fidelity Canadian Short Term Corporate Bond ETF | 1.52% | 4.15% | 7.55% | 6.81% | -4.22% | -0.81% | 6.26% | 0.82% |
Correlation
The correlation between FLCI.TO and FCSB.NEO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Sep 20, 2019 | 0.25 |
The correlation between FLCI.TO and FCSB.NEO shifts across timeframes, from 0.15 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FLCI.TO vs. FCSB.NEO — Risk / Return Rank
FLCI.TO
FCSB.NEO
FLCI.TO vs. FCSB.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Canadian Corporate Bond Fund ETF (FLCI.TO) and Fidelity Canadian Short Term Corporate Bond ETF (FCSB.NEO). 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.
| FLCI.TO | FCSB.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.29 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 2.60 | +0.08 |
| Martin ratioReturn relative to average drawdown | 7.43 | 9.57 | -2.14 |
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Drawdowns
FLCI.TO vs. FCSB.NEO - Drawdown Comparison
The maximum FLCI.TO drawdown since its inception was -17.51%, which is greater than FCSB.NEO's maximum drawdown of -12.48%. Use the drawdown chart below to compare losses from any high point for FLCI.TO and FCSB.NEO.
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Drawdown Indicators
| FLCI.TO | FCSB.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.51% | -12.48% | -5.03% |
Max Drawdown (1Y)Largest decline over 1 year | -2.27% | -1.58% | -0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -3.31% | -1.58% | -1.73% |
Max Drawdown (5Y)Largest decline over 5 years | -14.63% | -7.44% | -7.19% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.30% | -1.50% | -1.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.81% | 0.43% | +0.38% |
Volatility
FLCI.TO vs. FCSB.NEO - Volatility Comparison
Franklin Canadian Corporate Bond Fund ETF (FLCI.TO) has a higher volatility of 1.23% compared to Fidelity Canadian Short Term Corporate Bond ETF (FCSB.NEO) at 0.95%. This indicates that FLCI.TO's price experiences larger fluctuations and is considered to be riskier than FCSB.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLCI.TO | FCSB.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 0.95% | +0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 2.95% | 2.07% | +0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.93% | 2.70% | +1.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.64% | 3.31% | +2.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.47% | 4.95% | +1.52% |
FLCI.TO vs. FCSB.NEO - Expense Ratio Comparison
FLCI.TO has a 0.39% expense ratio, which is lower than FCSB.NEO's 0.44% expense ratio.
Dividends
FLCI.TO vs. FCSB.NEO - Dividend Comparison
FLCI.TO's dividend yield for the trailing twelve months is around 4.41%, more than FCSB.NEO's 3.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FCSB.NEO Fidelity Canadian Short Term Corporate Bond ETF | 3.78% | 3.73% | 3.59% | 3.06% | 2.09% | 1.58% | 2.34% | 0.38% | 0.00% | 0.00% |
FLCI.TO Franklin Canadian Corporate Bond Fund ETF | 4.41% | 4.26% | 4.41% | 4.09% | 4.95% | 3.35% | 3.25% | 3.68% | 3.87% | 0.84% |
Frequently Asked Questions
FLCI.TO and FCSB.NEO have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLCI.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLCI.TO is cheaper with a 0.39% expense ratio, compared with 0.44% for FCSB.NEO.
They also come from different issuers: Franklin and Fidelity. Their fees differ too: 0.39% for FLCI.TO and 0.44% for FCSB.NEO.
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