HVOI.TO vs. FCMI.TO
HVOI.TO (Harvest Low Volatility Canadian Equity Income ETF Class A) and FCMI.TO (Fidelity Canadian Monthly High Income ETF) are both Canada Equities funds. Both are actively managed. Over the past year, HVOI.TO returned 19.92% vs 19.66% for FCMI.TO. At a 0.31 correlation, their price movements are largely independent.
Performance
HVOI.TO vs. FCMI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HVOI.TO achieves a 11.41% return, which is significantly higher than FCMI.TO's 9.25% return.
HVOI.TO
- 1D
- 0.63%
- 1M
- 2.69%
- 6M
- 9.70%
- YTD
- 11.41%
- 1Y
- 19.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FCMI.TO
- 1D
- 0.00%
- 1M
- -0.44%
- 6M
- 6.69%
- YTD
- 9.25%
- 1Y
- 19.66%
- 3Y*
- 13.93%
- 5Y*
- 8.04%
- 10Y*
- —
HVOI.TO vs. FCMI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HVOI.TO Harvest Low Volatility Canadian Equity Income ETF Class A | 11.41% | 15.49% |
FCMI.TO Fidelity Canadian Monthly High Income ETF | 9.25% | 18.83% |
Correlation
The correlation between HVOI.TO and FCMI.TO is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2025 | 0.31 |
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Return for Risk
HVOI.TO vs. FCMI.TO — Risk / Return Rank
HVOI.TO
FCMI.TO
HVOI.TO vs. FCMI.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest Low Volatility Canadian Equity Income ETF Class A (HVOI.TO) and Fidelity Canadian Monthly High Income ETF (FCMI.TO). 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.
| HVOI.TO | FCMI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.80 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | 5.36 | -2.39 |
| Martin ratioReturn relative to average drawdown | 11.93 | 20.62 | -8.69 |
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Drawdowns
HVOI.TO vs. FCMI.TO - Drawdown Comparison
The maximum HVOI.TO drawdown since its inception was -6.72%, smaller than the maximum FCMI.TO drawdown of -63.80%. Use the drawdown chart below to compare losses from any high point for HVOI.TO and FCMI.TO.
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Drawdown Indicators
| HVOI.TO | FCMI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.72% | -63.80% | +57.08% |
Max Drawdown (1Y)Largest decline over 1 year | -6.72% | -3.62% | -3.10% |
Max Drawdown (3Y)Largest decline over 3 years | — | -6.63% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -10.00% | — |
Current DrawdownCurrent decline from peak | 0.00% | -18.96% | +18.96% |
Average DrawdownAverage peak-to-trough decline | -0.89% | -41.59% | +40.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 0.94% | +0.73% |
Volatility
HVOI.TO vs. FCMI.TO - Volatility Comparison
Harvest Low Volatility Canadian Equity Income ETF Class A (HVOI.TO) and Fidelity Canadian Monthly High Income ETF (FCMI.TO) have volatilities of 2.06% and 2.08%, 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
| HVOI.TO | FCMI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.06% | 2.08% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 7.06% | 4.99% | +2.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.70% | 6.39% | +2.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.31% | 7.80% | +0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.31% | 22.19% | -13.88% |
Dividends
HVOI.TO vs. FCMI.TO - Dividend Comparison
HVOI.TO's dividend yield for the trailing twelve months is around 6.63%, more than FCMI.TO's 3.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FCMI.TO Fidelity Canadian Monthly High Income ETF | 3.28% | 3.38% | 3.63% | 4.09% | 3.73% | 2.76% | 6.22% |
HVOI.TO Harvest Low Volatility Canadian Equity Income ETF Class A | 6.63% | 4.76% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HVOI.TO and FCMI.TO have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Harvest and Fidelity.
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