VCN.TO vs. FCIM.NEO

Last updated Jun 4, 2026

VCN.TO (Vanguard FTSE Canada All Cap Index ETF) and FCIM.NEO (Fidelity International Momentum Index ETF) are both exchange-traded funds - VCN.TO is a Canada Equities fund tracking the FTSE Canada All Cap Domestic Index, while FCIM.NEO is a Momentum fund tracking the Fidelity Canada International Momentum Index. Both are passively managed. Over the past 5 years, VCN.TO returned 14.85%/yr vs 18.22%/yr for FCIM.NEO. At a 0.48 correlation, their price movements are largely independent. VCN.TO charges 0.06%/yr vs 0.45%/yr for FCIM.NEO.

Performance

VCN.TO vs. FCIM.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Canada All Cap Index ETF (VCN.TO) and Fidelity International Momentum Index ETF (FCIM.NEO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VCN.TO achieves a 10.48% return, which is significantly lower than FCIM.NEO's 20.03% return.

VCN.TO

• 1D: -1.03%
• 1M: 3.61%
• YTD: 10.48%
• 6M: 12.01%
• 1Y: 33.06%
• 3Y*: 23.42%
• 5Y*: 14.85%
• 10Y*: 12.42%

FCIM.NEO

• 1D: -0.81%
• 1M: 5.53%
• YTD: 20.03%
• 6M: 22.93%
• 1Y: 38.49%
• 3Y*: 30.84%
• 5Y*: 18.22%
• 10Y*: —

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

VCN.TO vs. FCIM.NEO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VCN.TO Vanguard FTSE Canada All Cap Index ETF	10.48%	30.20%	22.14%	12.26%	-5.78%	25.63%	17.51%
FCIM.NEO Fidelity International Momentum Index ETF	20.03%	37.03%	25.38%	16.54%	-12.40%	10.86%	18.11%

Correlation

The correlation between VCN.TO and FCIM.NEO is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jun 12, 2020	0.48

The correlation between VCN.TO and FCIM.NEO has been stable across timeframes, ranging from 0.48 to 0.56 - a consistent structural relationship.

Return for Risk

VCN.TO vs. FCIM.NEO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VCN.TO

VCN.TO Risk / Return Rank: 77
VCN.TO Sharpe Ratio Rank: 80
VCN.TO Sortino Ratio Rank: 74
VCN.TO Omega Ratio Rank: 78
VCN.TO Calmar Ratio Rank: 71
VCN.TO Martin Ratio Rank: 82

FCIM.NEO

FCIM.NEO Risk / Return Rank: 67
FCIM.NEO Sharpe Ratio Rank: 70
FCIM.NEO Sortino Ratio Rank: 73
FCIM.NEO Omega Ratio Rank: 70
FCIM.NEO Calmar Ratio Rank: 58
FCIM.NEO Martin Ratio Rank: 65

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VCN.TO vs. FCIM.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Canada All Cap Index ETF (VCN.TO) and Fidelity International Momentum Index ETF (FCIM.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.

	VCN.TO	FCIM.NEO	Difference
Sharpe ratio: Return per unit of total volatility	2.64	2.32	+0.32
Sortino ratio: Return per unit of downside risk	3.43	3.34	+0.09
Omega ratio: Gain probability vs. loss probability	1.48	1.42	+0.05
Calmar ratio: Return relative to maximum drawdown	3.65	2.93	+0.72
Martin ratio: Return relative to average drawdown	17.03	11.94	+5.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VCN.TO vs. FCIM.NEO - Sharpe Ratio Comparison

The current VCN.TO Sharpe Ratio is 2.64, which is comparable to the FCIM.NEO Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of VCN.TO and FCIM.NEO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VCN.TO	FCIM.NEO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.64	2.32	+0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.15	1.09	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	1.13	-0.36

Drawdowns

VCN.TO vs. FCIM.NEO - Drawdown Comparison

The maximum VCN.TO drawdown since its inception was -37.32%, which is greater than FCIM.NEO's maximum drawdown of -26.89%. Use the drawdown chart below to compare losses from any high point for VCN.TO and FCIM.NEO.

Drawdown Indicators

	VCN.TO	FCIM.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-37.32%	-26.89%	-10.43%
Max Drawdown (1Y) Largest decline over 1 year	-9.11%	-13.21%	+4.10%
Max Drawdown (3Y) Largest decline over 3 years	-12.24%	-13.21%	+0.97%
Max Drawdown (5Y) Largest decline over 5 years	-16.12%	-26.89%	+10.77%
Max Drawdown (10Y) Largest decline over 10 years	-37.32%	—	—
Current Drawdown Current decline from peak	-1.03%	-0.91%	-0.12%
Average Drawdown Average peak-to-trough decline	-3.90%	-5.43%	+1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	3.23%	-1.28%

Volatility

VCN.TO vs. FCIM.NEO - Volatility Comparison

The current volatility for Vanguard FTSE Canada All Cap Index ETF (VCN.TO) is 3.41%, while Fidelity International Momentum Index ETF (FCIM.NEO) has a volatility of 6.68%. This indicates that VCN.TO experiences smaller price fluctuations and is considered to be less risky than FCIM.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VCN.TO	FCIM.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.41%	6.68%	-3.27%
Volatility (6M) Calculated over the trailing 6-month period	10.27%	13.97%	-3.70%
Volatility (1Y) Calculated over the trailing 1-year period	12.57%	16.67%	-4.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.03%	16.82%	-3.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.98%	16.45%	-1.47%

VCN.TO vs. FCIM.NEO - Expense Ratio Comparison

VCN.TO has a 0.06% expense ratio, which is lower than FCIM.NEO's 0.45% expense ratio.

Dividends

VCN.TO vs. FCIM.NEO - Dividend Comparison

VCN.TO's dividend yield for the trailing twelve months is around 2.00%, more than FCIM.NEO's 1.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCIM.NEO Fidelity International Momentum Index ETF	1.33%	1.59%	1.26%	1.70%	1.86%	2.70%	0.52%	0.00%	0.00%	0.00%	0.00%	0.00%
VCN.TO Vanguard FTSE Canada All Cap Index ETF	2.00%	2.27%	2.69%	2.99%	3.15%	2.48%	2.70%	2.85%	2.80%	2.29%	2.34%	2.65%

Frequently Asked Questions

Can I hold both VCN.TO and FCIM.NEO in my portfolio?

VCN.TO and FCIM.NEO have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VCN.TO or FCIM.NEO?

On fees, VCN.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VCN.TO or FCIM.NEO?

VCN.TO is cheaper with a 0.06% expense ratio, compared with 0.45% for FCIM.NEO.

What is the main difference between VCN.TO and FCIM.NEO?

VCN.TO is categorized as Canada Equities, while FCIM.NEO is Momentum. VCN.TO tracks FTSE Canada All Cap Domestic Index, while FCIM.NEO tracks Fidelity Canada International Momentum Index. They also come from different issuers: Vanguard and Fidelity. Their fees differ too: 0.06% for VCN.TO and 0.45% for FCIM.NEO.