VS
Fidelity Canadian Long/Short Alternative Fund (FCLS) and Fidelity Canadian High Quality Index ETF (FCCQ) offer distinct profiles for Canadian ETF investors. A direct comparison shows that FCLS focuses its top 3 sector exposures on Financials, Materials, and Industrials, while FCCQ leans towards Financials, Materials, and Energy. When evaluating costs, FCLS features a management fee (MER) of 0.95%, compared to 0.35% for FCCQ. Performance-wise, FCLS has returned 5.87% year-to-date with -$0 M in net flows, whereas FCCQ is at 6.12% with +$193 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
FCLS
FCCQ
| AuM | $9.46 M | $973.22 M |
| Management Fees | 0.95% | 0.35% |
| Exp. ratio | 1.27% | 0.39% |
| Tracking Difference | - | -0.50% |
Historical performance and flows
As of June 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | FCLS | -1.41% | +3.97% | +5.87% | +19.29% | - |
FCCQ | -0.51% | +1.23% | +6.12% | +31.30% | +84.44% | |
| Flows | FCLS | +$0 M | +$0 M | -$0 M | -$0 M | - |
FCCQ | +$34 M | +$124 M | +$193 M | +$460 M | +$734 M |
FCLS vs FCCQ exposure
Countries
FCLS
Canada
82.41%
Other
17.59%
FCCQ
Canada
91.54%
Other
8.46%
Sectors
FCLS
Other
23.48%
Financials
22.45%
Materials
20.82%
Industrials
9.53%
Information Technology
7.32%
Other
16.40%
FCCQ
Financials
26.56%
Materials
23.52%
Energy
10.83%
Other
8.46%
Consumer Discretionary
8.44%
Consumer Staples
7.73%
Other
14.47%
As of June 11, 2026
Top 10 Holdings
FCLS
ROYAL BK CANADA
3.18%
TORONTO DOMINION
3.05%
BANK OF MONTREAL
2.88%
CA1130041058
2.86%
GREAT WEST LIFECO
2.73%
POWER CORPORATION OF CANADA
2.64%
FORTIS
2.59%
TELUS
2.58%
EMERA
2.46%
IA FINANCIAL CORP
2.38%
FCCQ
ROYAL BK CANADA
5.90%
TORONTO DOMINION
4.27%
AGNICO EAGLE MINES LTD
3.83%
RESTAURANT BRANDS INTL
3.09%
CELESTICA
2.99%
BARRICK GOLD
2.85%
DOLLARAMA
2.83%
LOBLAW COMPANIES
2.81%
WHEATON PRECIOUS METALS CORP
2.77%
BANK OF MONTREAL
2.63%
Diversification
FCLS
Total weight of top 10 holdings out of 143 total
27.37%
FCCQ
Total weight of top 10 holdings out of 58 total
33.98%
Characteristics
Compare
FCLS
FCCQ
| Provider | Fidelity | Fidelity |
| Management | Actively managed | Passively managed |
| Benchmark | - | Fidelity Canada Canadian High Quality GTR Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.62% | 1.48% |
| Meets ESG criteria | No | No |
| Inception Date | February 1, 2024 | January 24, 2019 |
Frequently asked questions about FCLS and FCCQ
Which ETF has performed better year to date: FCLS or FCCQ?
As of June 11, 2026, FCLS has returned 5.87% year to date, while FCCQ has returned 6.12%. FCCQ is ahead on YTD performance.
Which ETF is larger by assets under management: FCLS or FCCQ?
As of June 11, 2026, FCLS manages $9.46 M in assets, while FCCQ manages $973.22 M. FCCQ is the larger fund by AUM.
How are FCLS and FCCQ managed?
FCLS is actively managed by Fidelity. It does not track an index. FCCQ is passively managed by Fidelity. It tracks the Fidelity Canada Canadian High Quality GTR Index - CAD benchmark.
What sectors do FCLS and FCCQ emphasize?
FCLS is most exposed to Financials, Materials, and Industrials. FCCQ is most exposed to Financials, Materials, and Energy.
Which ETF is attracting more investor flows: FCLS or FCCQ?
Year to date, FCLS has seen -$0.01 M in net flows, compared with +$193.40 M for FCCQ. FCCQ has attracted more net investor money so far.
How do the fees of FCLS and FCCQ compare?
FCLS has an expense ratio of 1.27%, while FCCQ has an expense ratio of 0.39%.
What are the top holdings of FCLS and FCCQ?
FCLS's largest holdings include ROYAL BK CANADA and TORONTO DOMINION. FCCQ's top holdings include ROYAL BK CANADA, TORONTO DOMINION, and AGNICO EAGLE MINES LTD.
Which ETF is more diversified: FCLS or FCCQ?
FCLS holds 140 securities, while FCCQ holds 58. On holdings count, FCLS is the more diversified portfolio.
Recent articles about FCLS and FCCQ
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