MCLC.TO vs. FCMI.TO
MCLC.TO (Manulife Multifactor Canadian Large Cap Index ETF) and FCMI.TO (Fidelity Canadian Monthly High Income ETF) are both Canada Equities funds. Both are actively managed. Over the past 5 years, MCLC.TO returned 15.29%/yr vs 8.04%/yr for FCMI.TO. At a 0.15 correlation, their price movements are largely independent.
Performance
MCLC.TO vs. FCMI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MCLC.TO achieves a 14.02% return, which is significantly higher than FCMI.TO's 9.25% return.
MCLC.TO
- 1D
- 0.34%
- 1M
- 0.09%
- 6M
- 10.38%
- YTD
- 14.02%
- 1Y
- 28.74%
- 3Y*
- 21.36%
- 5Y*
- 15.29%
- 10Y*
- —
FCMI.TO
- 1D
- 0.00%
- 1M
- 0.07%
- 6M
- 7.41%
- YTD
- 9.25%
- 1Y
- 19.31%
- 3Y*
- 13.93%
- 5Y*
- 8.04%
- 10Y*
- —
MCLC.TO vs. FCMI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MCLC.TO Manulife Multifactor Canadian Large Cap Index ETF | 14.02% | 25.65% | 19.78% | 10.82% | 0.64% | 24.38% | -0.78% |
FCMI.TO Fidelity Canadian Monthly High Income ETF | 9.25% | 15.02% | 13.11% | 5.49% | -5.32% | 15.26% | -50.19% |
Correlation
The correlation between MCLC.TO and FCMI.TO is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2020 | 0.15 |
The correlation between MCLC.TO and FCMI.TO shifts across timeframes, from 0.15 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MCLC.TO vs. FCMI.TO — Risk / Return Rank
MCLC.TO
FCMI.TO
MCLC.TO vs. FCMI.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Manulife Multifactor Canadian Large Cap Index ETF (MCLC.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.
| MCLC.TO | FCMI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -1.51 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.80 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 4.04 | 5.36 | -1.33 |
| Martin ratioReturn relative to average drawdown | 17.48 | 20.61 | -3.13 |
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Drawdowns
MCLC.TO vs. FCMI.TO - Drawdown Comparison
The maximum MCLC.TO drawdown since its inception was -35.34%, smaller than the maximum FCMI.TO drawdown of -63.80%. Use the drawdown chart below to compare losses from any high point for MCLC.TO and FCMI.TO.
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Drawdown Indicators
| MCLC.TO | FCMI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.34% | -63.80% | +28.46% |
Max Drawdown (1Y)Largest decline over 1 year | -7.15% | -3.62% | -3.53% |
Max Drawdown (3Y)Largest decline over 3 years | -11.91% | -6.63% | -5.28% |
Max Drawdown (5Y)Largest decline over 5 years | -16.24% | -10.00% | -6.24% |
Current DrawdownCurrent decline from peak | -0.08% | -18.96% | +18.88% |
Average DrawdownAverage peak-to-trough decline | -3.85% | -41.60% | +37.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.65% | 0.94% | +0.71% |
Volatility
MCLC.TO vs. FCMI.TO - Volatility Comparison
Manulife Multifactor Canadian Large Cap Index ETF (MCLC.TO) has a higher volatility of 2.44% compared to Fidelity Canadian Monthly High Income ETF (FCMI.TO) at 2.10%. This indicates that MCLC.TO's price experiences larger fluctuations and is considered to be riskier than FCMI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCLC.TO | FCMI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.44% | 2.10% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 9.38% | 4.99% | +4.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.74% | 6.39% | +5.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.24% | 7.80% | +9.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.02% | 22.20% | -3.18% |
Dividends
MCLC.TO vs. FCMI.TO - Dividend Comparison
MCLC.TO's dividend yield for the trailing twelve months is around 1.68%, less than FCMI.TO's 3.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FCMI.TO Fidelity Canadian Monthly High Income ETF | 3.28% | 3.38% | 3.63% | 4.09% | 3.73% | 2.76% | 6.22% | 0.00% | 0.00% | 0.00% |
MCLC.TO Manulife Multifactor Canadian Large Cap Index ETF | 1.68% | 2.05% | 2.56% | 2.77% | 3.07% | 1.76% | 2.12% | 2.15% | 2.19% | 1.27% |
Frequently Asked Questions
MCLC.TO and FCMI.TO have a correlation of 0.31, 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: Manulife and Fidelity.
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