VCE.TO vs. FCMI.TO
VCE.TO (Vanguard FTSE Canada Index ETF) and FCMI.TO (Fidelity Canadian Monthly High Income ETF) are both Canada Equities funds. VCE.TO is passively managed, while FCMI.TO is actively managed. Over the past 5 years, VCE.TO returned 14.99%/yr vs 8.04%/yr for FCMI.TO. At a 0.20 correlation, their price movements are largely independent. VCE.TO charges 0.06%/yr vs 0.50%/yr for FCMI.TO.
Performance
VCE.TO vs. FCMI.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VCE.TO achieves a 13.32% return, which is significantly higher than FCMI.TO's 9.25% return.
VCE.TO
- 1D
- 0.34%
- 1M
- 1.36%
- 6M
- 9.60%
- YTD
- 13.32%
- 1Y
- 30.32%
- 3Y*
- 22.88%
- 5Y*
- 14.99%
- 10Y*
- 12.81%
FCMI.TO
- 1D
- 0.00%
- 1M
- 0.07%
- 6M
- 7.41%
- YTD
- 9.25%
- 1Y
- 19.31%
- 3Y*
- 13.93%
- 5Y*
- 8.04%
- 10Y*
- —
VCE.TO vs. FCMI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VCE.TO Vanguard FTSE Canada Index ETF | 13.32% | 26.45% | 21.50% | 12.34% | -5.14% | 28.63% | 2.04% |
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 VCE.TO and FCMI.TO is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2020 | 0.20 |
The correlation between VCE.TO and FCMI.TO shifts across timeframes, from 0.20 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VCE.TO vs. FCMI.TO — Risk / Return Rank
VCE.TO
FCMI.TO
VCE.TO vs. FCMI.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Canada Index ETF (VCE.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.
| VCE.TO | FCMI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.80 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 3.77 | 5.36 | -1.60 |
| Martin ratioReturn relative to average drawdown | 17.18 | 20.61 | -3.43 |
Loading charts...
Drawdowns
VCE.TO vs. FCMI.TO - Drawdown Comparison
The maximum VCE.TO drawdown since its inception was -35.93%, smaller than the maximum FCMI.TO drawdown of -63.80%. Use the drawdown chart below to compare losses from any high point for VCE.TO and FCMI.TO.
Loading charts...
Drawdown Indicators
| VCE.TO | FCMI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.93% | -63.80% | +27.87% |
Max Drawdown (1Y)Largest decline over 1 year | -8.09% | -3.62% | -4.47% |
Max Drawdown (3Y)Largest decline over 3 years | -12.15% | -6.63% | -5.52% |
Max Drawdown (5Y)Largest decline over 5 years | -15.86% | -10.00% | -5.86% |
Max Drawdown (10Y)Largest decline over 10 years | -35.93% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -18.96% | +18.96% |
Average DrawdownAverage peak-to-trough decline | -3.69% | -41.60% | +37.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.77% | 0.94% | +0.83% |
Volatility
VCE.TO vs. FCMI.TO - Volatility Comparison
Vanguard FTSE Canada Index ETF (VCE.TO) and Fidelity Canadian Monthly High Income ETF (FCMI.TO) have volatilities of 2.18% and 2.10%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VCE.TO | FCMI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.18% | 2.10% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 10.05% | 4.99% | +5.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.68% | 6.39% | +6.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.84% | 7.80% | +5.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.98% | 22.20% | -7.22% |
VCE.TO vs. FCMI.TO - Expense Ratio Comparison
VCE.TO has a 0.06% expense ratio, which is lower than FCMI.TO's 0.50% expense ratio.
Dividends
VCE.TO vs. FCMI.TO - Dividend Comparison
VCE.TO's dividend yield for the trailing twelve months is around 2.12%, less than FCMI.TO's 3.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
VCE.TO Vanguard FTSE Canada Index ETF | 2.12% | 2.46% | 2.89% | 3.22% | 3.27% | 2.66% | 2.99% | 3.06% | 3.27% | 2.62% | 2.69% | 3.04% |
Frequently Asked Questions
VCE.TO and FCMI.TO have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VCE.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VCE.TO is cheaper with a 0.06% expense ratio, compared with 0.50% for FCMI.TO.
They also come from different issuers: Vanguard and Fidelity. Their fees differ too: 0.06% for VCE.TO and 0.50% for FCMI.TO.
Find the right allocation for VCE.TO and FCMI.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer