FTCNX vs. TCAF

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Advisor Canada Fund Class M (FTCNX) and T. Rowe Price Capital Appreciation Equity ETF (TCAF).

FTCNX is managed by Fidelity. It was launched on May 2, 2007. TCAF is an actively managed fund by T. Rowe Price. It was launched on Jun 14, 2023.

Performance

FTCNX vs. TCAF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Canada Fund Class M (FTCNX) and T. Rowe Price Capital Appreciation Equity ETF (TCAF). The values are adjusted to include any dividend payments, if applicable.

FTCNX vs. TCAF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FTCNX Fidelity Advisor Canada Fund Class M	0.13%	25.18%	8.57%	6.48%
TCAF T. Rowe Price Capital Appreciation Equity ETF	-6.88%	15.45%	20.93%	8.40%

Returns By Period

In the year-to-date period, FTCNX achieves a 0.13% return, which is significantly higher than TCAF's -6.88% return.

FTCNX

• 1D: -0.22%
• 1M: -6.95%
• YTD: 0.13%
• 6M: 4.76%
• 1Y: 23.13%
• 3Y*: 14.09%
• 5Y*: 10.70%
• 10Y*: 9.59%

TCAF

• 1D: 2.98%
• 1M: -5.55%
• YTD: -6.88%
• 6M: -5.12%
• 1Y: 10.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FTCNX vs. TCAF - Expense Ratio Comparison

FTCNX has a 1.40% expense ratio, which is higher than TCAF's 0.31% expense ratio.

FTCNX

Fidelity Advisor Canada Fund Class M

TCAF

T. Rowe Price Capital Appreciation Equity ETF

Return for Risk

FTCNX vs. TCAF — Risk / Return Rank

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

FTCNX

FTCNX Risk / Return Rank: 83
FTCNX Sharpe Ratio Rank: 82
FTCNX Sortino Ratio Rank: 82
FTCNX Omega Ratio Rank: 77
FTCNX Calmar Ratio Rank: 85
FTCNX Martin Ratio Rank: 88

TCAF

TCAF Risk / Return Rank: 39
TCAF Sharpe Ratio Rank: 36
TCAF Sortino Ratio Rank: 38
TCAF Omega Ratio Rank: 39
TCAF Calmar Ratio Rank: 42
TCAF Martin Ratio Rank: 41

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.

FTCNX vs. TCAF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Canada Fund Class M (FTCNX) and T. Rowe Price Capital Appreciation Equity ETF (TCAF). 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.

	FTCNX	TCAF	Difference
Sharpe ratio Return per unit of total volatility	1.53	0.63	+0.91
Sortino ratio Return per unit of downside risk	2.12	1.02	+1.10
Omega ratio Gain probability vs. loss probability	1.30	1.15	+0.15
Calmar ratio Return relative to maximum drawdown	2.15	0.98	+1.17
Martin ratio Return relative to average drawdown	9.58	3.61	+5.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTCNX vs. TCAF - Sharpe Ratio Comparison

The current FTCNX Sharpe Ratio is 1.53, which is higher than the TCAF Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of FTCNX and TCAF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FTCNX	TCAF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	0.63	+0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.93	-0.68

Correlation

The correlation between FTCNX and TCAF is 0.62, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FTCNX vs. TCAF - Dividend Comparison

FTCNX's dividend yield for the trailing twelve months is around 5.12%, more than TCAF's 0.54% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTCNX Fidelity Advisor Canada Fund Class M	5.12%	5.13%	6.90%	2.83%	3.47%	4.58%	1.99%	3.89%	6.55%	0.90%	1.08%	0.15%
TCAF T. Rowe Price Capital Appreciation Equity ETF	0.54%	0.50%	0.43%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FTCNX vs. TCAF - Drawdown Comparison

The maximum FTCNX drawdown since its inception was -58.27%, which is greater than TCAF's maximum drawdown of -16.37%. Use the drawdown chart below to compare losses from any high point for FTCNX and TCAF.

Drawdown Indicators

	FTCNX	TCAF	Difference
Max Drawdown Largest peak-to-trough decline	-58.27%	-16.37%	-41.90%
Max Drawdown (1Y) Largest decline over 1 year	-10.13%	-11.33%	+1.20%
Max Drawdown (5Y) Largest decline over 5 years	-21.21%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.92%	—	—
Current Drawdown Current decline from peak	-7.65%	-8.66%	+1.01%
Average Drawdown Average peak-to-trough decline	-12.48%	-2.10%	-10.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	3.08%	-0.81%

Volatility

FTCNX vs. TCAF - Volatility Comparison

The current volatility for Fidelity Advisor Canada Fund Class M (FTCNX) is 4.34%, while T. Rowe Price Capital Appreciation Equity ETF (TCAF) has a volatility of 5.47%. This indicates that FTCNX experiences smaller price fluctuations and is considered to be less risky than TCAF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTCNX	TCAF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.34%	5.47%	-1.13%
Volatility (6M) Calculated over the trailing 6-month period	10.16%	9.26%	+0.90%
Volatility (1Y) Calculated over the trailing 1-year period	15.53%	17.35%	-1.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.94%	14.12%	+1.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.48%	14.12%	+3.36%