VCN.TO vs. FCMI.TO
VCN.TO (Vanguard FTSE Canada All Cap Index ETF) and FCMI.TO (Fidelity Canadian Monthly High Income ETF) are both Canada Equities funds. VCN.TO is passively managed, while FCMI.TO is actively managed. Over the past 5 years, VCN.TO returned 15.45%/yr vs 8.04%/yr for FCMI.TO. At a 0.20 correlation, their price movements are largely independent. VCN.TO charges 0.06%/yr vs 0.50%/yr for FCMI.TO.
Performance
VCN.TO vs. FCMI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VCN.TO achieves a 12.79% return, which is significantly higher than FCMI.TO's 9.25% return.
VCN.TO
- 1D
- 0.29%
- 1M
- 0.71%
- 6M
- 8.76%
- YTD
- 12.79%
- 1Y
- 33.20%
- 3Y*
- 23.86%
- 5Y*
- 15.45%
- 10Y*
- 12.50%
FCMI.TO
- 1D
- 0.00%
- 1M
- 0.07%
- 6M
- 7.41%
- YTD
- 9.25%
- 1Y
- 19.31%
- 3Y*
- 13.93%
- 5Y*
- 8.04%
- 10Y*
- —
VCN.TO vs. FCMI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VCN.TO Vanguard FTSE Canada All Cap Index ETF | 12.79% | 31.00% | 22.16% | 12.29% | -5.76% | 25.65% | 2.68% |
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 VCN.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 | 0.24 |
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 VCN.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.
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Return for Risk
VCN.TO vs. FCMI.TO — Risk / Return Rank
VCN.TO
FCMI.TO
VCN.TO vs. FCMI.TO - 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 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.
| VCN.TO | FCMI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.80 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 5.36 | -1.70 |
| Martin ratioReturn relative to average drawdown | 16.73 | 20.61 | -3.88 |
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Drawdowns
VCN.TO vs. FCMI.TO - Drawdown Comparison
The maximum VCN.TO drawdown since its inception was -37.32%, smaller than the maximum FCMI.TO drawdown of -63.80%. Use the drawdown chart below to compare losses from any high point for VCN.TO and FCMI.TO.
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Drawdown Indicators
| VCN.TO | FCMI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.32% | -63.80% | +26.48% |
Max Drawdown (1Y)Largest decline over 1 year | -9.11% | -3.62% | -5.49% |
Max Drawdown (3Y)Largest decline over 3 years | -12.24% | -6.63% | -5.61% |
Max Drawdown (5Y)Largest decline over 5 years | -16.12% | -10.00% | -6.12% |
Max Drawdown (10Y)Largest decline over 10 years | -37.32% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -18.96% | +18.96% |
Average DrawdownAverage peak-to-trough decline | -3.87% | -41.60% | +37.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | 0.94% | +1.05% |
Volatility
VCN.TO vs. FCMI.TO - Volatility Comparison
Vanguard FTSE Canada All Cap Index ETF (VCN.TO) has a higher volatility of 2.25% compared to Fidelity Canadian Monthly High Income ETF (FCMI.TO) at 2.10%. This indicates that VCN.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
| VCN.TO | FCMI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.25% | 2.10% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 10.59% | 4.99% | +5.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.04% | 6.39% | +6.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.11% | 7.80% | +5.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.96% | 22.20% | -7.24% |
VCN.TO vs. FCMI.TO - Expense Ratio Comparison
VCN.TO has a 0.06% expense ratio, which is lower than FCMI.TO's 0.50% expense ratio.
Dividends
VCN.TO vs. FCMI.TO - Dividend Comparison
VCN.TO's dividend yield for the trailing twelve months is around 2.01%, 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% |
VCN.TO Vanguard FTSE Canada All Cap Index ETF | 2.01% | 2.27% | 2.71% | 3.00% | 3.17% | 2.49% | 2.72% | 2.88% | 2.83% | 2.29% | 2.36% | 2.68% |
Frequently Asked Questions
VCN.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, VCN.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VCN.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 VCN.TO and 0.50% for FCMI.TO.
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