VS
Fidelity Long/Short Alternative Fund (FLSA) and iShares MSCI World Index ETF (XWD) offer distinct profiles for Canadian ETF investors. A direct comparison shows that FLSA focuses its top 3 sector exposures on Industrials, Financials, and Information Technology, while XWD leans towards Information Technology, Financials, and Industrials. When evaluating costs, FLSA features a management fee (MER) of 1.15%, compared to 0.44% for XWD. Performance-wise, FLSA has returned 2.99% year-to-date with +$20 M in net flows, whereas XWD is at 10.86% with +$52 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
FLSA
XWD
| AuM | $238.77 M | $1,692.79 M |
| Management Fees | 1.15% | 0.44% |
| Exp. ratio | 1.46% | 0.48% |
| Tracking Difference | - | - |
Historical performance and flows
As of June 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | FLSA | -0.39% | +3.02% | +2.99% | +10.04% | - |
XWD | +2.64% | +11.43% | +10.86% | +25.85% | +76.83% | |
| Flows | FLSA | +$3 M | -$4 M | +$20 M | +$6 M | - |
XWD | +$24 M | +$63 M | +$52 M | +$183 M | +$264 M |
FLSA vs XWD exposure
Countries
FLSA
USA
50.76%
Canada
28.84%
Other
14.52%
XWD
USA
69.85%
Other
30.15%
Sectors
FLSA
Industrials
15.81%
Other
14.52%
Financials
14.20%
Information Technology
12.29%
Communication Services
9.09%
Consumer Discretionary
7.79%
Other
26.30%
XWD
Information Technology
28.19%
Financials
14.18%
Industrials
10.62%
Consumer Discretionary
9.40%
Communication Services
9.00%
Health Care
7.84%
Other
20.77%
As of June 11, 2026
Top 10 Holdings
FLSA
ALPHABET INC-CL
4.09%
ROYAL BK CANADA
3.35%
MICROSOFT-T
3.21%
TORONTO DOMINION
3.16%
FRANCO NEVADA
3.03%
RESTAURANT BRANDS INTL
2.93%
AGNICO EAGLE MINES LTD
2.91%
DOLLAR TREE
2.80%
AMAZON.COM INC
2.52%
CATERPILLAR
2.51%
XWD
NVIDIA
5.63%
APPLE
4.63%
MICROSOFT-T
3.52%
AMAZON.COM INC
3.01%
ALPHABET INC-CL
2.60%
BROADCOM LIMITED
2.30%
ALPHABET INC-CL
2.07%
META PLATFORMS
1.55%
TESLA
1.25%
BERKSHIRE HATHWAY
1.01%
Diversification
FLSA
Total weight of top 10 holdings out of 77 total
30.50%
XWD
Total weight of top 10 holdings out of 1,254 total
27.56%
Characteristics
Compare
FLSA
XWD
| Provider | Fidelity | iShares |
| Management | Actively managed | Passively managed |
| Benchmark | - | MSCI World Daily Total Return Net Index - USD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.00% | 1.20% |
| Meets ESG criteria | No | No |
| Inception Date | February 1, 2024 | June 18, 2009 |
Frequently asked questions about FLSA and XWD
Which ETF has performed better year to date: FLSA or XWD?
As of June 11, 2026, FLSA has returned 2.99% year to date, while XWD has returned 10.86%. XWD is ahead on YTD performance.
Which ETF is larger by assets under management: FLSA or XWD?
As of June 11, 2026, FLSA manages $238.77 M in assets, while XWD manages $1.69 B. XWD is the larger fund by AUM.
How are FLSA and XWD managed?
FLSA is actively managed by Fidelity. It does not track an index. XWD is passively managed by iShares. It tracks the MSCI World Daily Total Return Net Index - USD benchmark.
What sectors do FLSA and XWD emphasize?
FLSA is most exposed to Industrials, Financials, and Information Technology. XWD is most exposed to Information Technology, Financials, and Industrials.
Which ETF is attracting more investor flows: FLSA or XWD?
Year to date, FLSA has seen +$20.04 M in net flows, compared with +$51.66 M for XWD. XWD has attracted more net investor money so far.
How do the fees of FLSA and XWD compare?
FLSA has an expense ratio of 1.46%, while XWD has an expense ratio of 0.48%.
What are the top holdings of FLSA and XWD?
FLSA's largest holdings include ALPHABET INC-CL, ROYAL BK CANADA, and MICROSOFT-T. XWD's top holdings include NVIDIA, ALPHABET INC-CL, and APPLE.
Which ETF is more diversified: FLSA or XWD?
FLSA holds 77 securities, while XWD holds 1180. On holdings count, XWD is the more diversified portfolio.
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