VDU.TO vs. FCIM.NEO

Last updated Aug 4, 2026

VDU.TO (Vanguard FTSE Developed All Cap ex U.S. Index ETF) and FCIM.NEO (Fidelity International Momentum Index ETF) are both Foreign Large Cap Equities funds - VDU.TO tracks the FTSE Developed All Cap ex US Index while FCIM.NEO tracks the Fidelity Canada International Momentum Index. Both are passively managed. Over the past 5 years, VDU.TO returned 11.64%/yr vs 16.49%/yr for FCIM.NEO. Their 0.68 correlation means they have sometimes moved together and sometimes differently. VDU.TO charges 0.22%/yr vs 0.45%/yr for FCIM.NEO.

Performance

VDU.TO vs. FCIM.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Developed All Cap ex U.S. Index ETF (VDU.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, VDU.TO achieves a 16.08% return, which is significantly lower than FCIM.NEO's 16.97% return.

VDU.TO

• 1D: -0.46%
• 1M: -1.58%
• 6M: 9.52%
• YTD: 16.08%
• 1Y: 30.94%
• 3Y*: 19.41%
• 5Y*: 11.64%
• 10Y*: 10.12%
• ALL TIME*: 9.93%

FCIM.NEO

• 1D: 1.20%
• 1M: -6.94%
• 6M: 6.24%
• YTD: 16.97%
• 1Y: 32.10%
• 3Y*: 27.86%
• 5Y*: 16.49%
• 10Y*: —
• ALL TIME*: 17.48%

*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)
FCIM.NEO Fidelity International Momentum Index ETF	CA$5.07M	CA$3.44M	CA$2.71M
VDU.TO Vanguard FTSE Developed All Cap ex U.S. Index ETF	CA$601.69K	CA$734.63K	CA$1.16M

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VDU.TO Vanguard FTSE Developed All Cap ex U.S. Index ETF	16.08%	27.97%	11.37%	14.56%	-9.89%	10.22%	13.31%
FCIM.NEO Fidelity International Momentum Index ETF	16.97%	37.03%	25.38%	16.54%	-12.40%	10.86%	18.15%

Correlation

The correlation between VDU.TO and FCIM.NEO is 0.73, 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.	0.73
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (5Y) Shows whether the relationship held over a longer period.	0.75
Correlation (All Time) Calculated using the full available price history since Jun 11, 2020	0.68

The correlation between VDU.TO and FCIM.NEO has been stable across timeframes, ranging from 0.68 to 0.75 - a consistent structural relationship.

Return for Risk

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

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

VDU.TO

VDU.TO Risk / Return Rank: 77
VDU.TO Sharpe Ratio Rank: 79
VDU.TO Sortino Ratio Rank: 78
VDU.TO Omega Ratio Rank: 80
VDU.TO Calmar Ratio Rank: 73
VDU.TO Martin Ratio Rank: 77

FCIM.NEO

FCIM.NEO Risk / Return Rank: 69
FCIM.NEO Sharpe Ratio Rank: 66
FCIM.NEO Sortino Ratio Rank: 71
FCIM.NEO Omega Ratio Rank: 72
FCIM.NEO Calmar Ratio Rank: 68
FCIM.NEO Martin Ratio Rank: 66

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.

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

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed All Cap ex U.S. Index ETF (VDU.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.

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.

	VDU.TO	FCIM.NEO	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.60	+0.27
Sortino ratio: Return per unit of downside risk	2.57	2.40	+0.18
Omega ratio: Gain probability vs. loss probability	1.34	1.31	+0.03
Calmar ratio: Return relative to maximum drawdown	2.64	2.47	+0.17
Martin ratio: Return relative to average drawdown	10.12	8.30	+1.81

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

The current VDU.TO Sharpe Ratio is 1.87, which is comparable to the FCIM.NEO Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of VDU.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.

Drawdowns

VDU.TO vs. FCIM.NEO - Drawdown Comparison

The maximum VDU.TO drawdown since its inception was -29.19%, 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 VDU.TO and FCIM.NEO.

Drawdown Indicators

	VDU.TO	FCIM.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-29.19%	-26.89%	-2.30%
Max Drawdown (1Y) Largest decline over 1 year	-11.47%	-13.21%	+1.74%
Max Drawdown (3Y) Largest decline over 3 years	-14.02%	-13.21%	-0.81%
Max Drawdown (5Y) Largest decline over 5 years	-24.11%	-26.89%	+2.78%
Max Drawdown (10Y) Largest decline over 10 years	-29.19%	—	—
Current Drawdown Current decline from peak	-3.53%	-8.24%	+4.71%
Average Drawdown Average peak-to-trough decline	-4.63%	-5.41%	+0.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	3.92%	-0.94%

Volatility

VDU.TO vs. FCIM.NEO - Volatility Comparison

The current volatility for Vanguard FTSE Developed All Cap ex U.S. Index ETF (VDU.TO) is 5.16%, while Fidelity International Momentum Index ETF (FCIM.NEO) has a volatility of 8.46%. This indicates that VDU.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

	VDU.TO	FCIM.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.16%	8.46%	-3.30%
Volatility (6M) Calculated over the trailing 6-month period	14.35%	18.24%	-3.89%
Volatility (1Y) Calculated over the trailing 1-year period	16.20%	20.43%	-4.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.89%	17.77%	-3.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.67%	17.07%	-2.40%

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

VDU.TO has a 0.22% expense ratio, which is lower than FCIM.NEO's 0.45% expense ratio.

Dividends

VDU.TO vs. FCIM.NEO - Dividend Comparison

VDU.TO's dividend yield for the trailing twelve months is around 2.02%, more than FCIM.NEO's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCIM.NEO Fidelity International Momentum Index ETF	1.36%	1.59%	1.26%	1.70%	1.86%	2.70%	0.52%	0.00%	0.00%	0.00%	0.00%	0.00%
VDU.TO Vanguard FTSE Developed All Cap ex U.S. Index ETF	2.02%	2.61%	2.55%	2.54%	2.14%	2.66%	1.64%	2.48%	2.61%	2.25%	2.41%	2.24%

Frequently Asked Questions

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

VDU.TO and FCIM.NEO have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, VDU.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

VDU.TO is cheaper with a 0.22% expense ratio, compared with 0.45% for FCIM.NEO.

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

VDU.TO tracks FTSE Developed All Cap ex US Index, while FCIM.NEO tracks Fidelity Canada International Momentum Index. They also come from different issuers: Vanguard and Fidelity. Their fees differ too: 0.22% for VDU.TO and 0.45% for FCIM.NEO.