FSCJX vs. EWC
FSCJX (Fidelity SAI Canada Equity Index Fund) and EWC (iShares MSCI Canada ETF) are both Canada Equities funds - FSCJX tracks the MSCI Canada Index while EWC tracks the MSCI Canada Custom Capped Index. Both are passively managed. Over the past year, FSCJX returned 31.25% vs 31.85% for EWC. Their 0.98 correlation means they have historically moved very closely together. FSCJX charges 0.12%/yr vs 0.50%/yr for EWC.
Performance
FSCJX vs. EWC - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FSCJX having a 10.67% return and EWC slightly higher at 11.13%.
FSCJX
- 1D
- -0.82%
- 1M
- 2.60%
- 6M
- 9.37%
- YTD
- 10.67%
- 1Y
- 31.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 25.42%
EWC
- 1D
- 0.44%
- 1M
- 3.25%
- 6M
- 9.86%
- YTD
- 11.13%
- 1Y
- 31.85%
- 3Y*
- 21.92%
- 5Y*
- 12.15%
- 10Y*
- 11.32%
- ALL TIME*
- 8.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $97.54M | $84.54M | $100.69M | |
| $0.00 | $0.00 | $0.00 |
FSCJX vs. EWC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FSCJX Fidelity SAI Canada Equity Index Fund | 10.67% | 36.41% | 5.14% |
EWC iShares MSCI Canada ETF | 11.13% | 35.92% | 5.80% |
Correlation
The correlation between FSCJX and EWC is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2024 | 0.98 |
The correlation between FSCJX and EWC has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
FSCJX vs. EWC — Risk / Return Rank
FSCJX
EWC
FSCJX vs. EWC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Canada Equity Index Fund (FSCJX) and iShares MSCI Canada ETF (EWC). 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.
| FSCJX | EWC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.38 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.71 | 3.76 | -0.05 |
| Martin ratioReturn relative to average drawdown | 14.61 | 14.91 | -0.30 |
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Drawdowns
FSCJX vs. EWC - Drawdown Comparison
The maximum FSCJX drawdown since its inception was -12.43%, smaller than the maximum EWC drawdown of -60.75%. Use the drawdown chart below to compare losses from any high point for FSCJX and EWC.
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Drawdown Indicators
| FSCJX | EWC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.43% | -60.75% | +48.32% |
Max Drawdown (1Y)Largest decline over 1 year | -8.33% | -8.51% | +0.18% |
Max Drawdown (3Y)Largest decline over 3 years | — | -12.97% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.81% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.66% | — |
Current DrawdownCurrent decline from peak | -0.88% | -0.32% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -1.60% | -13.08% | +11.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.11% | 2.14% | -0.03% |
Volatility
FSCJX vs. EWC - Volatility Comparison
Fidelity SAI Canada Equity Index Fund (FSCJX) and iShares MSCI Canada ETF (EWC) have volatilities of 3.01% and 3.01%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSCJX | EWC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.01% | 3.01% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 11.26% | 10.65% | +0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.01% | 14.36% | -0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.09% | 17.22% | -2.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.09% | 18.67% | -3.58% |
FSCJX vs. EWC - Expense Ratio Comparison
FSCJX has a 0.12% expense ratio, which is lower than EWC's 0.50% expense ratio.
Dividends
FSCJX vs. EWC - Dividend Comparison
FSCJX's dividend yield for the trailing twelve months is around 1.21%, less than EWC's 1.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWC iShares MSCI Canada ETF | 1.26% | 1.45% | 2.23% | 2.27% | 2.34% | 1.85% | 2.09% | 2.16% | 2.65% | 1.97% | 1.75% | 2.34% |
FSCJX Fidelity SAI Canada Equity Index Fund | 1.21% | 1.34% | 1.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.99, FSCJX and EWC 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.
EWC has higher volatility (3.01%) compared to FSCJX (3.01%). In terms of maximum drawdown, FSCJX dropped -12.43% vs EWC's -60.75%.
EWC currently has the higher Sharpe Ratio (2.23 vs 2.21), 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.
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