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XESG.TO vs. FCMI.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XESG.TO vs. FCMI.TO

Last updated Jul 25, 2026
Documentation

XESG.TO (iShares ESG Aware MSCI Canada Index ETF) and FCMI.TO (Fidelity Canadian Monthly High Income ETF) are both Canada Equities funds. XESG.TO is passively managed, while FCMI.TO is actively managed. Over the past 5 years, XESG.TO returned 12.78%/yr vs 8.17%/yr for FCMI.TO. At a 0.17 correlation, their price movements are largely independent. XESG.TO charges 0.16%/yr vs 0.50%/yr for FCMI.TO.

Performance

XESG.TO vs. FCMI.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares ESG Aware MSCI Canada Index ETF (XESG.TO) and Fidelity Canadian Monthly High Income ETF (FCMI.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XESG.TO achieves a 12.54% return, which is significantly higher than FCMI.TO's 9.31% return.

XESG.TO

1D
0.51%
1M
2.11%
6M
7.81%
YTD
12.54%
1Y
27.02%
3Y*
20.42%
5Y*
12.78%
10Y*
—
ALL TIME*
12.86%

FCMI.TO

1D
-0.06%
1M
0.97%
6M
6.83%
YTD
9.31%
1Y
18.60%
3Y*
13.95%
5Y*
8.17%
10Y*
—
ALL TIME*
-3.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

FCMI.TO

Fidelity Canadian Monthly High Income ETF
CA$46.03KCA$34.60KCA$26.27K

XESG.TO

iShares ESG Aware MSCI Canada Index ETF
CA$124.11KCA$192.49KCA$202.20K

XESG.TO vs. FCMI.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
XESG.TO
iShares ESG Aware MSCI Canada Index ETF		12.54%26.34%20.23%10.30%-7.64%23.09%3.41%
FCMI.TO
Fidelity Canadian Monthly High Income ETF		9.31%15.02%13.11%5.49%-5.32%15.26%-50.19%

Correlation

The correlation between XESG.TO and FCMI.TO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.33

Correlation (3Y)
Calculated over the trailing 3-year period

0.23

Correlation (5Y)
Calculated over the trailing 5-year period

0.19

Correlation (All Time)
Calculated using the full available price history since Jan 16, 2020

0.17

The correlation between XESG.TO and FCMI.TO shifts across timeframes, from 0.17 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.

XESG.TO vs. FCMI.TO - Sectors Allocation Comparison

Sectors
XESG.TO
FCMI.TO

Financial Services

40.3%
22.8%

Energy

18.1%
20.6%

Basic Materials

16.7%
11.3%

Industrials

8.5%
5.6%

Technology

8.2%
5.8%

Utilities

3.0%
7.6%

Consumer Cyclical

2.8%
10.5%

Consumer Defensive

1.3%
1.7%

Real Estate

0.6%
6.8%

Communication Services

0.1%
5.6%

Healthcare

0.0%
1.8%

Financial Services

XESG.TO
40.3%
FCMI.TO
22.8%

Energy

XESG.TO
18.1%
FCMI.TO
20.6%

Basic Materials

XESG.TO
16.7%
FCMI.TO
11.3%

Industrials

XESG.TO
8.5%
FCMI.TO
5.6%

Technology

XESG.TO
8.2%
FCMI.TO
5.8%

Utilities

XESG.TO
3.0%
FCMI.TO
7.6%

Consumer Cyclical

XESG.TO
2.8%
FCMI.TO
10.5%

Consumer Defensive

XESG.TO
1.3%
FCMI.TO
1.7%

Real Estate

XESG.TO
0.6%
FCMI.TO
6.8%

Communication Services

XESG.TO
0.1%
FCMI.TO
5.6%

Healthcare

XESG.TO
0.0%
FCMI.TO
1.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares ESG Aware MSCI Canada Index ETF

Fidelity Canadian Monthly High Income ETF

Often compared with XESG.TO:
XESG.TO vs. XCSR.TOXESG.TO vs. XEQT.TOXESG.TO vs. SCHGXESG.TO vs. VFV.TOXESG.TO vs. XIU.TOXESG.TO vs. SPYXESG.TO vs. GEQT.TO
Often compared with FCMI.TO:
FCMI.TO vs. MCSM.TOFCMI.TO vs. BGC.TOFCMI.TO vs. ZWC.TOFCMI.TO vs. FHI.TOFCMI.TO vs. ZDV.TOFCMI.TO vs. MCLC.TOFCMI.TO vs. XCV.TO

Return for Risk

XESG.TO vs. FCMI.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XESG.TO
XESG.TO Risk / Return Rank: 8282
Overall Rank
XESG.TO Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
XESG.TO Sortino Ratio Rank: 7878
Sortino Ratio Rank
XESG.TO Omega Ratio Rank: 8383
Omega Ratio Rank
XESG.TO Calmar Ratio Rank: 7979
Calmar Ratio Rank
XESG.TO Martin Ratio Rank: 8787
Martin Ratio Rank
FCMI.TO
FCMI.TO Risk / Return Rank: 9696
Overall Rank
FCMI.TO Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
FCMI.TO Sortino Ratio Rank: 9696
Sortino Ratio Rank
FCMI.TO Omega Ratio Rank: 9797
Omega Ratio Rank
FCMI.TO Calmar Ratio Rank: 9494
Calmar Ratio Rank
FCMI.TO Martin Ratio Rank: 9595
Martin Ratio Rank
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.

XESG.TO vs. FCMI.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Aware MSCI Canada Index ETF (XESG.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.

XESG.TOFCMI.TODifference
Sharpe ratioReturn per unit of total volatility
1.98
2.93

-0.95

Sortino ratioReturn per unit of downside risk
2.54
4.54

-2.00

Omega ratioGain probability vs. loss probability

1.36

1.76

-0.41

Calmar ratioReturn relative to maximum drawdown

2.92

5.17

-2.24

Martin ratioReturn relative to average drawdown

12.69

19.80

-7.10

XESG.TO vs. FCMI.TO - Sharpe Ratio Comparison

The current XESG.TO Sharpe Ratio is 1.98, which is lower than the FCMI.TO Sharpe Ratio of 2.93. The chart below compares the historical Sharpe Ratios of XESG.TO and FCMI.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

XESG.TO vs. FCMI.TO - Drawdown Comparison

The maximum XESG.TO drawdown since its inception was -39.40%, smaller than the maximum FCMI.TO drawdown of -63.80%. Use the drawdown chart below to compare losses from any high point for XESG.TO and FCMI.TO.

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Drawdown Indicators

XESG.TOFCMI.TODifference

Max Drawdown

Largest peak-to-trough decline

-39.40%

-63.80%

+24.40%

Max Drawdown (1Y)

Largest decline over 1 year

-9.28%

-3.62%

-5.66%

Max Drawdown (3Y)

Largest decline over 3 years

-14.14%

-6.63%

-7.51%

Max Drawdown (5Y)

Largest decline over 5 years

-17.82%

-10.00%

-7.82%

Current Drawdown

Current decline from peak

-0.26%

-18.91%

+18.65%

Average Drawdown

Average peak-to-trough decline

-5.01%

-41.51%

+36.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.13%

0.94%

+1.19%

Volatility

XESG.TO vs. FCMI.TO - Volatility Comparison

iShares ESG Aware MSCI Canada Index ETF (XESG.TO) has a higher volatility of 2.49% compared to Fidelity Canadian Monthly High Income ETF (FCMI.TO) at 2.07%. This indicates that XESG.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

XESG.TOFCMI.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.49%

2.07%

+0.42%

Volatility (6M)

Calculated over the trailing 6-month period

10.77%

4.93%

+5.84%

Volatility (1Y)

Calculated over the trailing 1-year period

13.71%

6.44%

+7.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.88%

7.80%

+6.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.83%

22.16%

-0.33%

XESG.TO vs. FCMI.TO - Expense Ratio Comparison

XESG.TO has a 0.16% expense ratio, which is lower than FCMI.TO's 0.50% expense ratio.

Dividends

XESG.TO vs. FCMI.TO - Dividend Comparison

XESG.TO's dividend yield for the trailing twelve months is around 1.91%, less than FCMI.TO's 3.28% yield.

PositionTTM2025202420232022202120202019
FCMI.TO
Fidelity Canadian Monthly High Income ETF		3.28%3.38%3.63%4.09%3.73%2.76%6.22%0.00%
XESG.TO
iShares ESG Aware MSCI Canada Index ETF		1.91%2.17%2.57%2.89%2.77%2.01%2.30%1.08%

Frequently Asked Questions

XESG.TO and FCMI.TO have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XESG.TO is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XESG.TO is cheaper with a 0.16% expense ratio, compared with 0.50% for FCMI.TO.

They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.16% for XESG.TO and 0.50% for FCMI.TO.

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