TCON.TO vs. FCNSX

Last updated Aug 4, 2026

TCON.TO (TD Conservative ETF Portfolio) and FCNSX (Fidelity Series Canada Fund) are both funds - TCON.TO is a Diversified Portfolio fund actively managed by TD, while FCNSX is a Foreign Large Cap Equities fund managed by Fidelity. Over the past 5 years, TCON.TO returned 5.13%/yr vs 15.06%/yr for FCNSX. Their 0.27 correlation means their historical movements had little consistent relationship. TCON.TO charges 0.17%/yr vs 0.00%/yr for FCNSX.

Performance

TCON.TO vs. FCNSX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD Conservative ETF Portfolio (TCON.TO) and Fidelity Series Canada Fund (FCNSX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

TCON.TO is traded in CAD, while FCNSX is traded in USD. To make them comparable, the FCNSX values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, TCON.TO achieves a 5.41% return, which is significantly lower than FCNSX's 13.50% return.

TCON.TO

• 1D: -0.23%
• 1M: -1.00%
• 6M: 4.01%
• YTD: 5.41%
• 1Y: 11.80%
• 3Y*: 10.36%
• 5Y*: 5.13%
• 10Y*: —
• ALL TIME*: 5.36%

FCNSX

• 1D: -0.81%
• 1M: 2.29%
• 6M: 13.36%
• YTD: 13.50%
• 1Y: 24.79%
• 3Y*: 20.48%
• 5Y*: 15.06%
• 10Y*: —
• ALL TIME*: 13.01%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FCNSX Fidelity Series Canada Fund	CA$0.00	CA$0.00	CA$0.00
TCON.TO TD Conservative ETF Portfolio	CA$186.38K	CA$201.50K	CA$208.02K

TCON.TO vs. FCNSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TCON.TO TD Conservative ETF Portfolio	5.41%	10.47%	9.68%	11.95%	-12.34%	5.81%	2.79%
FCNSX Fidelity Series Canada Fund	13.50%	22.69%	19.18%	13.19%	-0.97%	28.56%	7.95%

Correlation

The correlation between TCON.TO and FCNSX is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.54
Correlation (3Y) Balances recent behavior with more history.	0.39
Correlation (5Y) Shows whether the relationship held over a longer period.	0.28
Correlation (All Time) Calculated using the full available price history since Aug 25, 2020	0.27

Over the past year, TCON.TO and FCNSX have become more correlated (0.54) than their long-term average of 0.27, meaning their price movements have been converging.

Return for Risk

TCON.TO vs. FCNSX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TCON.TO

TCON.TO Risk / Return Rank: 68
TCON.TO Sharpe Ratio Rank: 69
TCON.TO Sortino Ratio Rank: 70
TCON.TO Omega Ratio Rank: 71
TCON.TO Calmar Ratio Rank: 60
TCON.TO Martin Ratio Rank: 72

FCNSX

FCNSX Risk / Return Rank: 73
FCNSX Sharpe Ratio Rank: 71
FCNSX Sortino Ratio Rank: 63
FCNSX Omega Ratio Rank: 64
FCNSX Calmar Ratio Rank: 84
FCNSX Martin Ratio Rank: 81

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TCON.TO vs. FCNSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TD Conservative ETF Portfolio (TCON.TO) and Fidelity Series Canada Fund (FCNSX). 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.

	TCON.TO	FCNSX	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.79	-0.06
Sortino ratio: Return per unit of downside risk	2.47	2.41	+0.06
Omega ratio: Gain probability vs. loss probability	1.32	1.31	+0.01
Calmar ratio: Return relative to maximum drawdown	2.28	3.46	-1.17
Martin ratio: Return relative to average drawdown	9.44	12.69	-3.25

TCON.TO vs. FCNSX - Sharpe Ratio Comparison

The current TCON.TO Sharpe Ratio is 1.73, which is comparable to the FCNSX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of TCON.TO and FCNSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TCON.TO vs. FCNSX - Drawdown Comparison

The maximum TCON.TO drawdown since its inception was -16.43%, smaller than the maximum FCNSX drawdown of -36.05%. Use the drawdown chart below to compare losses from any high point for TCON.TO and FCNSX.

Drawdown Indicators

	TCON.TO	FCNSX	Difference
Max Drawdown Largest peak-to-trough decline	-16.43%	-36.05%	+19.62%
Max Drawdown (1Y) Largest decline over 1 year	-5.06%	-7.03%	+1.97%
Max Drawdown (3Y) Largest decline over 3 years	-6.18%	-12.04%	+5.86%
Max Drawdown (5Y) Largest decline over 5 years	-16.43%	-16.31%	-0.12%
Current Drawdown Current decline from peak	-1.28%	-1.25%	-0.03%
Average Drawdown Average peak-to-trough decline	-3.65%	-3.49%	-0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.22%	1.91%	-0.69%

Volatility

TCON.TO vs. FCNSX - Volatility Comparison

The current volatility for TD Conservative ETF Portfolio (TCON.TO) is 1.86%, while Fidelity Series Canada Fund (FCNSX) has a volatility of 2.97%. This indicates that TCON.TO experiences smaller price fluctuations and is considered to be less risky than FCNSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TCON.TO	FCNSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.86%	2.97%	-1.11%
Volatility (6M) Calculated over the trailing 6-month period	5.60%	10.69%	-5.09%
Volatility (1Y) Calculated over the trailing 1-year period	6.70%	13.56%	-6.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.84%	17.02%	-9.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.54%	19.35%	-11.81%

TCON.TO vs. FCNSX - Expense Ratio Comparison

TCON.TO has a 0.17% expense ratio, which is higher than FCNSX's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

TCON.TO vs. FCNSX - Dividend Comparison

TCON.TO's dividend yield for the trailing twelve months is around 2.57%, more than FCNSX's 1.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCNSX Fidelity Series Canada Fund	1.85%	2.06%	3.05%	3.42%	3.12%	2.20%	2.14%	2.24%	2.51%	1.07%
TCON.TO TD Conservative ETF Portfolio	2.57%	2.88%	3.48%	3.27%	2.69%	1.96%	1.03%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TCON.TO and FCNSX in my portfolio?

TCON.TO and FCNSX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.