QDXH.TO vs. FCIQ.TO
QDXH.TO (Mackenzie International Equity Index ETF (CAD-Hedged)) and FCIQ.TO (Fidelity International High Quality ETF) are both International Equity funds. QDXH.TO is passively managed, while FCIQ.TO is actively managed. Over the past 5 years, QDXH.TO returned 12.25%/yr vs 6.75%/yr for FCIQ.TO. At a 0.19 correlation, their price movements are largely independent.
Performance
QDXH.TO vs. FCIQ.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with QDXH.TO having a 12.19% return and FCIQ.TO slightly higher at 12.55%.
QDXH.TO
- 1D
- -0.27%
- 1M
- 5.09%
- 6M
- 8.51%
- YTD
- 12.19%
- 1Y
- 25.56%
- 3Y*
- 17.95%
- 5Y*
- 12.25%
- 10Y*
- —
FCIQ.TO
- 1D
- 0.90%
- 1M
- 2.68%
- 6M
- 7.49%
- YTD
- 12.55%
- 1Y
- 13.05%
- 3Y*
- 13.45%
- 5Y*
- 6.75%
- 10Y*
- —
QDXH.TO vs. FCIQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
QDXH.TO Mackenzie International Equity Index ETF (CAD-Hedged) | 12.19% | 21.99% | 13.25% | 14.25% | -2.55% | 20.52% | -0.42% | 20.43% |
FCIQ.TO Fidelity International High Quality ETF | 12.55% | 11.87% | 11.21% | 17.76% | -16.23% | 5.22% | 25.89% | 18.15% |
Correlation
The correlation between QDXH.TO and FCIQ.TO is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jan 18, 2019 | 0.19 |
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Return for Risk
QDXH.TO vs. FCIQ.TO — Risk / Return Rank
QDXH.TO
FCIQ.TO
QDXH.TO vs. FCIQ.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie International Equity Index ETF (CAD-Hedged) (QDXH.TO) and Fidelity International High Quality ETF (FCIQ.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.
| QDXH.TO | FCIQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.28 | ||
| Sortino ratioReturn per unit of downside risk | +2.33 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 1.16 | +0.50 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 1.47 | +1.13 |
| Martin ratioReturn relative to average drawdown | 10.92 | 4.02 | +6.90 |
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Drawdowns
QDXH.TO vs. FCIQ.TO - Drawdown Comparison
The maximum QDXH.TO drawdown since its inception was -31.75%, roughly equal to the maximum FCIQ.TO drawdown of -32.88%. Use the drawdown chart below to compare losses from any high point for QDXH.TO and FCIQ.TO.
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Drawdown Indicators
| QDXH.TO | FCIQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.75% | -32.88% | +1.13% |
Max Drawdown (1Y)Largest decline over 1 year | -9.85% | -8.91% | -0.94% |
Max Drawdown (3Y)Largest decline over 3 years | -13.49% | -13.41% | -0.08% |
Max Drawdown (5Y)Largest decline over 5 years | -15.79% | -32.88% | +17.09% |
Current DrawdownCurrent decline from peak | -0.80% | -1.23% | +0.43% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -6.85% | +3.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.35% | 3.25% | -0.90% |
Volatility
QDXH.TO vs. FCIQ.TO - Volatility Comparison
Mackenzie International Equity Index ETF (CAD-Hedged) (QDXH.TO) has a higher volatility of 4.54% compared to Fidelity International High Quality ETF (FCIQ.TO) at 3.76%. This indicates that QDXH.TO's price experiences larger fluctuations and is considered to be riskier than FCIQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QDXH.TO | FCIQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.54% | 3.76% | +0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 10.28% | 12.52% | -2.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.99% | 15.16% | -3.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.72% | 14.78% | -2.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.43% | 16.56% | -1.13% |
Dividends
QDXH.TO vs. FCIQ.TO - Dividend Comparison
QDXH.TO's dividend yield for the trailing twelve months is around 2.29%, more than FCIQ.TO's 1.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FCIQ.TO Fidelity International High Quality ETF | 1.18% | 1.59% | 1.64% | 1.94% | 2.54% | 1.56% | 0.54% | 1.42% | 0.00% |
QDXH.TO Mackenzie International Equity Index ETF (CAD-Hedged) | 2.29% | 2.41% | 2.64% | 2.76% | 2.92% | 2.28% | 1.96% | 2.65% | 3.13% |
Frequently Asked Questions
QDXH.TO and FCIQ.TO have a correlation of 0.21, 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: Mackenzie and Fidelity.
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