PZW.TO vs. FINN.NEO
PZW.TO (Invesco FTSE RAFI Global Small-Mid ETF) and FINN.NEO (Fidelity Global Innovators ETF) are both Global Equities funds. PZW.TO is passively managed, while FINN.NEO is actively managed. Over the past 3 years, PZW.TO returned 18.38%/yr vs 40.06%/yr for FINN.NEO. At a 0.24 correlation, their price movements are largely independent.
Performance
PZW.TO vs. FINN.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, PZW.TO achieves a 16.26% return, which is significantly lower than FINN.NEO's 35.77% return.
PZW.TO
- 1D
- 0.00%
- 1M
- 0.23%
- 6M
- 9.03%
- YTD
- 16.26%
- 1Y
- 29.21%
- 3Y*
- 18.38%
- 5Y*
- 10.66%
- 10Y*
- 11.00%
FINN.NEO
- 1D
- -1.71%
- 1M
- -3.34%
- 6M
- 28.06%
- YTD
- 35.77%
- 1Y
- 49.48%
- 3Y*
- 40.06%
- 5Y*
- —
- 10Y*
- —
PZW.TO vs. FINN.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PZW.TO Invesco FTSE RAFI Global Small-Mid ETF | 16.26% | 18.48% | 16.03% | 9.39% |
FINN.NEO Fidelity Global Innovators ETF | 35.77% | 20.61% | 58.65% | 21.40% |
Correlation
The correlation between PZW.TO and FINN.NEO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since May 19, 2023 | 0.24 |
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Return for Risk
PZW.TO vs. FINN.NEO — Risk / Return Rank
PZW.TO
FINN.NEO
PZW.TO vs. FINN.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI Global Small-Mid ETF (PZW.TO) and Fidelity Global Innovators ETF (FINN.NEO). 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.
| PZW.TO | FINN.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.36 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.45 | 4.16 | -0.71 |
| Martin ratioReturn relative to average drawdown | 12.19 | 12.96 | -0.77 |
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Drawdowns
PZW.TO vs. FINN.NEO - Drawdown Comparison
The maximum PZW.TO drawdown since its inception was -32.45%, which is greater than FINN.NEO's maximum drawdown of -25.66%. Use the drawdown chart below to compare losses from any high point for PZW.TO and FINN.NEO.
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Drawdown Indicators
| PZW.TO | FINN.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.45% | -25.66% | -6.79% |
Max Drawdown (1Y)Largest decline over 1 year | -8.50% | -11.94% | +3.44% |
Max Drawdown (3Y)Largest decline over 3 years | -16.88% | -25.66% | +8.78% |
Max Drawdown (5Y)Largest decline over 5 years | -22.13% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.45% | — | — |
Current DrawdownCurrent decline from peak | -2.61% | -6.49% | +3.88% |
Average DrawdownAverage peak-to-trough decline | -5.70% | -3.98% | -1.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.40% | 3.83% | -1.43% |
Volatility
PZW.TO vs. FINN.NEO - Volatility Comparison
The current volatility for Invesco FTSE RAFI Global Small-Mid ETF (PZW.TO) is 3.01%, while Fidelity Global Innovators ETF (FINN.NEO) has a volatility of 6.48%. This indicates that PZW.TO experiences smaller price fluctuations and is considered to be less risky than FINN.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PZW.TO | FINN.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.01% | 6.48% | -3.47% |
Volatility (6M)Calculated over the trailing 6-month period | 10.31% | 20.24% | -9.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.21% | 24.76% | -10.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.68% | 22.40% | -7.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.85% | 22.40% | -6.55% |
Dividends
PZW.TO vs. FINN.NEO - Dividend Comparison
PZW.TO's dividend yield for the trailing twelve months is around 1.67%, while FINN.NEO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FINN.NEO Fidelity Global Innovators ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PZW.TO Invesco FTSE RAFI Global Small-Mid ETF | 1.67% | 1.97% | 2.12% | 3.23% | 1.90% | 1.93% | 1.52% | 2.26% | 1.78% | 1.57% | 1.09% | 0.96% |
Frequently Asked Questions
PZW.TO and FINN.NEO have a correlation of 0.20, 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: Invesco and Fidelity.
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