VMO.TO vs. FCIM.NEO

Last updated Jun 4, 2026

VMO.TO (Vanguard Global Momentum Factor ETF CAD) and FCIM.NEO (Fidelity International Momentum Index ETF) are both Momentum funds. VMO.TO is actively managed, while FCIM.NEO is passively managed. Over the past 5 years, VMO.TO returned 17.80%/yr vs 18.22%/yr for FCIM.NEO. A 0.50 correlation means they provide meaningful diversification when combined. VMO.TO charges 0.38%/yr vs 0.45%/yr for FCIM.NEO.

Performance

VMO.TO vs. FCIM.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard Global Momentum Factor ETF CAD (VMO.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, VMO.TO achieves a 25.71% return, which is significantly higher than FCIM.NEO's 20.03% return.

VMO.TO

• 1D: 0.55%
• 1M: 7.68%
• YTD: 25.71%
• 6M: 24.99%
• 1Y: 48.00%
• 3Y*: 31.06%
• 5Y*: 17.80%
• 10Y*: —

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)

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VMO.TO Vanguard Global Momentum Factor ETF CAD	25.71%	23.20%	29.68%	14.93%	-9.09%	15.67%	27.77%
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 VMO.TO and FCIM.NEO is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jun 12, 2020	0.50

The correlation between VMO.TO and FCIM.NEO has been stable across timeframes, ranging from 0.50 to 0.57 - a consistent structural relationship.

Return for Risk

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

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

VMO.TO

VMO.TO Risk / Return Rank: 78
VMO.TO Sharpe Ratio Rank: 76
VMO.TO Sortino Ratio Rank: 71
VMO.TO Omega Ratio Rank: 70
VMO.TO Calmar Ratio Rank: 85
VMO.TO Martin Ratio Rank: 88

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.

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

This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Momentum Factor ETF CAD (VMO.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.

	VMO.TO	FCIM.NEO	Difference
Sharpe ratio: Return per unit of total volatility	2.51	2.32	+0.19
Sortino ratio: Return per unit of downside risk	3.28	3.34	-0.06
Omega ratio: Gain probability vs. loss probability	1.43	1.42	0.00
Calmar ratio: Return relative to maximum drawdown	4.79	2.93	+1.86
Martin ratio: Return relative to average drawdown	19.35	11.94	+7.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current VMO.TO Sharpe Ratio is 2.51, which is comparable to the FCIM.NEO Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of VMO.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

	VMO.TO	FCIM.NEO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.51	2.32	+0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.01	1.09	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	1.13	-0.24

Drawdowns

VMO.TO vs. FCIM.NEO - Drawdown Comparison

The maximum VMO.TO drawdown since its inception was -30.53%, 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 VMO.TO and FCIM.NEO.

Drawdown Indicators

	VMO.TO	FCIM.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-30.53%	-26.89%	-3.64%
Max Drawdown (1Y) Largest decline over 1 year	-10.07%	-13.21%	+3.14%
Max Drawdown (3Y) Largest decline over 3 years	-19.72%	-13.21%	-6.51%
Max Drawdown (5Y) Largest decline over 5 years	-23.27%	-26.89%	+3.62%
Current Drawdown Current decline from peak	0.00%	-0.91%	+0.91%
Average Drawdown Average peak-to-trough decline	-5.21%	-5.43%	+0.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	3.23%	-0.74%

Volatility

VMO.TO vs. FCIM.NEO - Volatility Comparison

The current volatility for Vanguard Global Momentum Factor ETF CAD (VMO.TO) is 6.22%, while Fidelity International Momentum Index ETF (FCIM.NEO) has a volatility of 6.68%. This indicates that VMO.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

	VMO.TO	FCIM.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.22%	6.68%	-0.46%
Volatility (6M) Calculated over the trailing 6-month period	15.58%	13.97%	+1.61%
Volatility (1Y) Calculated over the trailing 1-year period	19.21%	16.67%	+2.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.66%	16.82%	+0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.91%	16.45%	+1.46%

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

VMO.TO has a 0.38% expense ratio, which is lower than FCIM.NEO's 0.45% expense ratio.

Dividends

VMO.TO vs. FCIM.NEO - Dividend Comparison

VMO.TO's dividend yield for the trailing twelve months is around 0.68%, less than FCIM.NEO's 1.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
VMO.TO Vanguard Global Momentum Factor ETF CAD	0.68%	0.85%	0.90%	1.03%	1.65%	1.09%	0.70%	1.70%	0.80%	1.15%	0.51%

Frequently Asked Questions

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

VMO.TO and FCIM.NEO have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, VMO.TO is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

VMO.TO is cheaper with a 0.38% expense ratio, compared with 0.45% for FCIM.NEO.

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

They also come from different issuers: Vanguard and Fidelity. Their fees differ too: 0.38% for VMO.TO and 0.45% for FCIM.NEO.