TCLV.TO vs. FCMI.TO
TCLV.TO (TD Q Canadian Low Volatility ETF) and FCMI.TO (Fidelity Canadian Monthly High Income ETF) are both Canada Equities funds. Both are actively managed. Over the past 5 years, TCLV.TO returned 11.78%/yr vs 8.04%/yr for FCMI.TO. At a 0.18 correlation, their price movements are largely independent. TCLV.TO charges 0.33%/yr vs 0.50%/yr for FCMI.TO.
Performance
TCLV.TO vs. FCMI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, TCLV.TO achieves a 8.67% return, which is significantly lower than FCMI.TO's 9.25% return.
TCLV.TO
- 1D
- 0.28%
- 1M
- 2.05%
- 6M
- 7.94%
- YTD
- 8.67%
- 1Y
- 17.36%
- 3Y*
- 17.09%
- 5Y*
- 11.78%
- 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*
- —
TCLV.TO vs. FCMI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TCLV.TO TD Q Canadian Low Volatility ETF | 8.67% | 24.55% | 17.71% | 2.95% | -0.91% | 23.83% | 7.27% |
FCMI.TO Fidelity Canadian Monthly High Income ETF | 9.25% | 15.02% | 13.11% | 5.49% | -5.32% | 15.26% | 13.07% |
Correlation
The correlation between TCLV.TO and FCMI.TO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2020 | 0.18 |
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Return for Risk
TCLV.TO vs. FCMI.TO — Risk / Return Rank
TCLV.TO
FCMI.TO
TCLV.TO vs. FCMI.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TD Q Canadian Low Volatility ETF (TCLV.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.
| TCLV.TO | FCMI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.56 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.80 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | 3.60 | 5.36 | -1.76 |
| Martin ratioReturn relative to average drawdown | 14.41 | 20.61 | -6.20 |
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Drawdowns
TCLV.TO vs. FCMI.TO - Drawdown Comparison
The maximum TCLV.TO drawdown since its inception was -15.27%, smaller than the maximum FCMI.TO drawdown of -63.80%. Use the drawdown chart below to compare losses from any high point for TCLV.TO and FCMI.TO.
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Drawdown Indicators
| TCLV.TO | FCMI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.27% | -63.80% | +48.53% |
Max Drawdown (1Y)Largest decline over 1 year | -4.84% | -3.62% | -1.22% |
Max Drawdown (3Y)Largest decline over 3 years | -9.15% | -6.63% | -2.52% |
Max Drawdown (5Y)Largest decline over 5 years | -15.27% | -10.00% | -5.27% |
Current DrawdownCurrent decline from peak | -0.25% | -18.96% | +18.71% |
Average DrawdownAverage peak-to-trough decline | -3.02% | -41.60% | +38.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 0.94% | +0.27% |
Volatility
TCLV.TO vs. FCMI.TO - Volatility Comparison
TD Q Canadian Low Volatility ETF (TCLV.TO) has a higher volatility of 2.64% compared to Fidelity Canadian Monthly High Income ETF (FCMI.TO) at 2.10%. This indicates that TCLV.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
| TCLV.TO | FCMI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.64% | 2.10% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 6.70% | 4.99% | +1.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.24% | 6.39% | +1.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.70% | 7.80% | +1.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.76% | 22.20% | -12.44% |
TCLV.TO vs. FCMI.TO - Expense Ratio Comparison
TCLV.TO has a 0.33% expense ratio, which is lower than FCMI.TO's 0.50% expense ratio.
Dividends
TCLV.TO vs. FCMI.TO - Dividend Comparison
TCLV.TO's dividend yield for the trailing twelve months is around 1.82%, less 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% |
TCLV.TO TD Q Canadian Low Volatility ETF | 1.82% | 1.88% | 2.68% | 3.15% | 2.84% | 2.64% | 1.59% |
Frequently Asked Questions
TCLV.TO and FCMI.TO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TCLV.TO is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TCLV.TO is cheaper with a 0.33% expense ratio, compared with 0.50% for FCMI.TO.
They also come from different issuers: TD and Fidelity. Their fees differ too: 0.33% for TCLV.TO and 0.50% for FCMI.TO.
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