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

XMV.TO vs. FCMI.TO

Last updated Jul 25, 2026
Documentation

XMV.TO (iShares MSCI Min Vol Canada Index ETF) and FCMI.TO (Fidelity Canadian Monthly High Income ETF) are both Canada Equities funds. XMV.TO is passively managed, while FCMI.TO is actively managed. Over the past 5 years, XMV.TO returned 10.60%/yr vs 8.17%/yr for FCMI.TO. At a 0.18 correlation, their price movements are largely independent. XMV.TO charges 0.33%/yr vs 0.50%/yr for FCMI.TO.

Performance

XMV.TO vs. FCMI.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI Min Vol Canada Index ETF (XMV.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, XMV.TO achieves a 13.16% return, which is significantly higher than FCMI.TO's 9.31% return.

XMV.TO

1D
0.92%
1M
2.36%
6M
11.20%
YTD
13.16%
1Y
18.88%
3Y*
17.02%
5Y*
10.60%
10Y*
9.95%
ALL TIME*
10.61%

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

XMV.TO

iShares MSCI Min Vol Canada Index ETF
CA$225.31KCA$221.10KCA$544.03K

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

2026 (YTD)202520242023202220212020
XMV.TO
iShares MSCI Min Vol Canada Index ETF		13.16%17.98%15.85%11.14%-1.46%21.73%-3.33%
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 XMV.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

0.20

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

0.18

The correlation between XMV.TO and FCMI.TO shifts across timeframes, from 0.18 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.

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

Sectors
XMV.TO
FCMI.TO

Financial Services

36.2%
22.8%

Energy

13.6%
20.6%

Industrials

11.9%
5.6%

Consumer Defensive

9.1%
1.7%

Basic Materials

7.5%
11.3%

Utilities

7.5%
7.6%

Consumer Cyclical

5.3%
10.5%

Communication Services

4.8%
5.6%

Technology

3.7%
5.8%

Real Estate

0.4%
6.8%

Healthcare

-

1.8%

Financial Services

XMV.TO
36.2%
FCMI.TO
22.8%

Energy

XMV.TO
13.6%
FCMI.TO
20.6%

Industrials

XMV.TO
11.9%
FCMI.TO
5.6%

Consumer Defensive

XMV.TO
9.1%
FCMI.TO
1.7%

Basic Materials

XMV.TO
7.5%
FCMI.TO
11.3%

Utilities

XMV.TO
7.5%
FCMI.TO
7.6%

Consumer Cyclical

XMV.TO
5.3%
FCMI.TO
10.5%

Communication Services

XMV.TO
4.8%
FCMI.TO
5.6%

Technology

XMV.TO
3.7%
FCMI.TO
5.8%

Real Estate

XMV.TO
0.4%
FCMI.TO
6.8%

Healthcare

XMV.TO

-

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 MSCI Min Vol Canada Index ETF

Fidelity Canadian Monthly High Income ETF

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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

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XMV.TO
XMV.TO Risk / Return Rank: 8484
Overall Rank
XMV.TO Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
XMV.TO Sortino Ratio Rank: 8383
Sortino Ratio Rank
XMV.TO Omega Ratio Rank: 8686
Omega Ratio Rank
XMV.TO Calmar Ratio Rank: 8484
Calmar Ratio Rank
XMV.TO Martin Ratio Rank: 8383
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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Min Vol Canada Index ETF (XMV.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.

XMV.TOFCMI.TODifference
Sharpe ratioReturn per unit of total volatility
1.99
2.93

-0.94

Sortino ratioReturn per unit of downside risk
2.71
4.54

-1.83

Omega ratioGain probability vs. loss probability

1.38

1.76

-0.39

Calmar ratioReturn relative to maximum drawdown

3.22

5.17

-1.94

Martin ratioReturn relative to average drawdown

11.39

19.80

-8.41

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

The current XMV.TO Sharpe Ratio is 1.99, which is lower than the FCMI.TO Sharpe Ratio of 2.93. The chart below compares the historical Sharpe Ratios of XMV.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

XMV.TO vs. FCMI.TO - Drawdown Comparison

The maximum XMV.TO drawdown since its inception was -38.65%, smaller than the maximum FCMI.TO drawdown of -63.80%. Use the drawdown chart below to compare losses from any high point for XMV.TO and FCMI.TO.

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Drawdown Indicators

XMV.TOFCMI.TODifference

Max Drawdown

Largest peak-to-trough decline

-38.65%

-63.80%

+25.15%

Max Drawdown (1Y)

Largest decline over 1 year

-5.88%

-3.62%

-2.26%

Max Drawdown (3Y)

Largest decline over 3 years

-9.72%

-6.63%

-3.09%

Max Drawdown (5Y)

Largest decline over 5 years

-17.56%

-10.00%

-7.56%

Max Drawdown (10Y)

Largest decline over 10 years

-38.65%

—

—

Current Drawdown

Current decline from peak

-0.29%

-18.91%

+18.62%

Average Drawdown

Average peak-to-trough decline

-6.55%

-41.51%

+34.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.66%

0.94%

+0.72%

Volatility

XMV.TO vs. FCMI.TO - Volatility Comparison

iShares MSCI Min Vol Canada Index ETF (XMV.TO) has a higher volatility of 2.39% compared to Fidelity Canadian Monthly High Income ETF (FCMI.TO) at 2.07%. This indicates that XMV.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

XMV.TOFCMI.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.39%

2.07%

+0.32%

Volatility (6M)

Calculated over the trailing 6-month period

6.80%

4.93%

+1.87%

Volatility (1Y)

Calculated over the trailing 1-year period

9.54%

6.44%

+3.10%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.82%

7.80%

+10.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.69%

22.16%

+5.53%

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

XMV.TO has a 0.33% expense ratio, which is lower than FCMI.TO's 0.50% expense ratio.

Dividends

XMV.TO vs. FCMI.TO - Dividend Comparison

XMV.TO's dividend yield for the trailing twelve months is around 2.06%, less than FCMI.TO's 3.28% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
XMV.TO
iShares MSCI Min Vol Canada Index ETF		2.06%2.28%2.49%2.83%2.59%2.28%3.04%2.72%3.25%2.79%2.38%2.72%

Frequently Asked Questions

XMV.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, XMV.TO is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XMV.TO is cheaper with a 0.33% expense ratio, compared with 0.50% for FCMI.TO.

They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.33% for XMV.TO and 0.50% for FCMI.TO.

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