VS
Fidelity U.S. Value Currency Neutral Index ETF (FCVH) and Mackenzie US Low Volatility ETF (MULV) offer distinct profiles for Canadian ETF investors. A direct comparison shows that FCVH focuses its top 3 sector exposures on Information Technology, Consumer Discretionary, and Financials, while MULV leans towards Information Technology, Health Care, and Financials. When evaluating costs, FCVH features a management fee (MER) of 0.38%, compared to 0.45% for MULV. Performance-wise, FCVH has returned 10.07% year-to-date with +$45 M in net flows, whereas MULV is at 2.94% with +$1 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
FCVH
MULV
| AuM | $300.65 M | $58.30 M |
| Management Fees | 0.38% | 0.45% |
| Exp. ratio | 0.41% | 0.50% |
| Tracking Difference | -1.06% | - |
Historical performance and flows
As of June 10, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | FCVH | -0.17% | +8.70% | +10.07% | +31.95% | +85.18% |
MULV | +3.22% | +2.32% | +2.94% | +6.37% | - | |
| Flows | FCVH | +$2 M | -$8 M | +$45 M | +$69 M | +$202 M |
MULV | -$1 M | +$2 M | +$1 M | -$1 M | - |
FCVH vs MULV exposure
Countries
FCVH
USA
96.03%
MULV
USA
88.37%
Other
11.63%
Sectors
FCVH
Information Technology
30.64%
Consumer Discretionary
15.38%
Financials
14.27%
Industrials
13.81%
Materials
9.12%
Utilities
8.40%
Other
8.38%
MULV
Information Technology
29.06%
Health Care
12.32%
Financials
12.06%
Utilities
8.27%
Consumer Staples
8.26%
Industrials
7.38%
Other
22.65%
As of June 10, 2026
Top 10 Holdings
FCVH
NVIDIA
6.36%
CF INDUSTRIES HOLDINGS
5.19%
AMAZON.COM INC
5.09%
APPLE
4.92%
EDISON INTERNATIONAL
4.33%
PG&E
4.07%
MICROSOFT-T
3.96%
NEWMONT CORP
3.94%
BROADCOM LIMITED
2.45%
BERKSHIRE HATHWAY
2.44%
MULV
NVIDIA
2.51%
DUKE ENERGY
2.13%
CHUBB LTD
2.12%
MICROSOFT-T
1.93%
MASTERCARD
1.91%
TRAVELERS COS INC/THE
1.82%
REPUBLIC SVCS
1.80%
MCKESSON
1.59%
PROCTERGAMBLE
1.55%
VERIZON COMMUNICATIONS
1.54%
Diversification
FCVH
Total weight of top 10 holdings out of 87 total
42.75%
MULV
Total weight of top 10 holdings out of 199 total
18.90%
Characteristics
Compare
FCVH
MULV
| Provider | Fidelity | Mackenzie Investments |
| Management | Passively managed | Actively managed |
| Benchmark | Fidelity Canada U.S. Value Currency Neutral GTR Index - CAD | - |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.59% | 0.97% |
| Meets ESG criteria | No | Yes |
| Inception Date | June 10, 2020 | June 6, 2024 |
Frequently asked questions about FCVH and MULV
Which ETF has performed better year to date: FCVH or MULV?
As of June 10, 2026, FCVH has returned 10.07% year to date, while MULV has returned 2.94%. FCVH is ahead on YTD performance.
Which ETF is larger by assets under management: FCVH or MULV?
As of June 10, 2026, FCVH manages $300.65 M in assets, while MULV manages $58.30 M. FCVH is the larger fund by AUM.
How are FCVH and MULV managed?
FCVH is passively managed by Fidelity. It tracks the Fidelity Canada U.S. Value Currency Neutral GTR Index - CAD benchmark. MULV is actively managed by Mackenzie Investments. It does not track an index.
What sectors do FCVH and MULV emphasize?
FCVH is most exposed to Information Technology, Consumer Discretionary, and Financials. MULV is most exposed to Information Technology, Health Care, and Financials.
Which ETF is attracting more investor flows: FCVH or MULV?
Year to date, FCVH has seen +$44.54 M in net flows, compared with +$1.08 M for MULV. FCVH has attracted more net investor money so far.
How do the fees of FCVH and MULV compare?
FCVH has an expense ratio of 0.41%, while MULV has an expense ratio of 0.50%.
What are the top holdings of FCVH and MULV?
FCVH's largest holdings include NVIDIA, CF INDUSTRIES HOLDINGS, and AMAZON.COM INC. MULV's top holdings include NVIDIA, DUKE ENERGY, and CHUBB LTD.
Which ETF is more diversified: FCVH or MULV?
FCVH holds 87 securities, while MULV holds 198. On holdings count, MULV is the more diversified portfolio.
Recent articles about FCVH and MULV
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