FSMG.L vs. FUQA.L

Last updated Jun 4, 2026

FSMG.L (Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF INC-USD) and FUQA.L (Fidelity US Quality Income ETF Acc) are both exchange-traded funds - FSMG.L is a Global Corporate Bonds fund tracking the Bloomberg Gbl Agg Corp TR USD, while FUQA.L is a Large Cap Blend Equities fund tracking the Fidelity US Quality Income Index. Both are passively managed. Over the past 5 years, FSMG.L returned 1.58%/yr vs 12.92%/yr for FUQA.L. At a 0.23 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.

Performance

FSMG.L vs. FUQA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF INC-USD (FSMG.L) and Fidelity US Quality Income ETF Acc (FUQA.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FSMG.L is traded in GBP, while FUQA.L is traded in GBp. To make them comparable, the FUQA.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, FSMG.L achieves a 0.98% return, which is significantly lower than FUQA.L's 8.86% return.

FSMG.L

• 1D: -0.11%
• 1M: 1.36%
• YTD: 0.98%
• 6M: 0.58%
• 1Y: 6.75%
• 3Y*: 3.72%
• 5Y*: 1.58%
• 10Y*: —

FUQA.L

• 1D: 0.08%
• 1M: 4.30%
• YTD: 8.86%
• 6M: 7.97%
• 1Y: 25.10%
• 3Y*: 15.19%
• 5Y*: 12.92%
• 10Y*: —

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

FSMG.L vs. FUQA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FSMG.L Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF INC-USD	0.98%	2.65%	2.78%	3.90%	-5.75%	4.11%
FUQA.L Fidelity US Quality Income ETF Acc	8.86%	7.90%	19.50%	11.85%	-0.00%	20.50%

Correlation

The correlation between FSMG.L and FUQA.L is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (All Time) Calculated using the full available price history since Mar 30, 2021	0.23

The correlation between FSMG.L and FUQA.L shifts across timeframes, from 0.23 (5 years) to 0.35 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FSMG.L vs. FUQA.L — Risk / Return Rank

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

FSMG.L

FSMG.L Risk / Return Rank: 32
FSMG.L Sharpe Ratio Rank: 33
FSMG.L Sortino Ratio Rank: 35
FSMG.L Omega Ratio Rank: 33
FSMG.L Calmar Ratio Rank: 34
FSMG.L Martin Ratio Rank: 27

FUQA.L

FUQA.L Risk / Return Rank: 75
FUQA.L Sharpe Ratio Rank: 75
FUQA.L Sortino Ratio Rank: 73
FUQA.L Omega Ratio Rank: 76
FUQA.L Calmar Ratio Rank: 72
FUQA.L Martin Ratio Rank: 81

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.

FSMG.L vs. FUQA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF INC-USD (FSMG.L) and Fidelity US Quality Income ETF Acc (FUQA.L). 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.

	FSMG.L	FUQA.L	Difference
Sharpe ratio: Return per unit of total volatility	1.19	2.45	-1.27
Sortino ratio: Return per unit of downside risk	1.80	3.30	-1.50
Omega ratio: Gain probability vs. loss probability	1.22	1.45	-0.23
Calmar ratio: Return relative to maximum drawdown	1.63	3.60	-1.97
Martin ratio: Return relative to average drawdown	3.74	16.24	-12.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSMG.L vs. FUQA.L - Sharpe Ratio Comparison

The current FSMG.L Sharpe Ratio is 1.19, which is lower than the FUQA.L Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of FSMG.L and FUQA.L, 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

	FSMG.L	FUQA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.19	2.45	-1.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.97	-0.76
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.92	-0.70

Drawdowns

FSMG.L vs. FUQA.L - Drawdown Comparison

The maximum FSMG.L drawdown since its inception was -11.66%, smaller than the maximum FUQA.L drawdown of -27.34%. Use the drawdown chart below to compare losses from any high point for FSMG.L and FUQA.L.

Drawdown Indicators

	FSMG.L	FUQA.L	Difference
Max Drawdown Largest peak-to-trough decline	-11.66%	-27.34%	+15.68%
Max Drawdown (1Y) Largest decline over 1 year	-4.12%	-6.95%	+2.83%
Max Drawdown (3Y) Largest decline over 3 years	-5.52%	-18.99%	+13.47%
Max Drawdown (5Y) Largest decline over 5 years	-11.66%	-18.99%	+7.33%
Current Drawdown Current decline from peak	-1.72%	0.00%	-1.72%
Average Drawdown Average peak-to-trough decline	-4.51%	-3.19%	-1.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	1.54%	+0.26%

Volatility

FSMG.L vs. FUQA.L - Volatility Comparison

Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF INC-USD (FSMG.L) and Fidelity US Quality Income ETF Acc (FUQA.L) have volatilities of 2.37% and 2.27%, 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.

Volatility by Period

	FSMG.L	FUQA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.37%	2.27%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	4.46%	7.26%	-2.80%
Volatility (1Y) Calculated over the trailing 1-year period	5.67%	10.25%	-4.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.32%	13.30%	-5.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.32%	16.29%	-8.97%

FSMG.L vs. FUQA.L - Expense Ratio Comparison

Both FSMG.L and FUQA.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

FSMG.L vs. FUQA.L - Dividend Comparison

FSMG.L's dividend yield for the trailing twelve months is around 6.04%, while FUQA.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
FSMG.L Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF INC-USD	6.04%	4.83%	5.10%	4.67%	2.87%	1.10%
FUQA.L Fidelity US Quality Income ETF Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FSMG.L and FUQA.L in my portfolio?

FSMG.L and FUQA.L have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FSMG.L or FUQA.L?

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FSMG.L or FUQA.L?

FSMG.L and FUQA.L have the same expense ratio: 0.25% per year.

What is the main difference between FSMG.L and FUQA.L?

FSMG.L is categorized as Global Corporate Bonds, while FUQA.L is Large Cap Blend Equities. FSMG.L tracks Bloomberg Gbl Agg Corp TR USD, while FUQA.L tracks Fidelity US Quality Income Index.