FCCM - Fidelity Canadian Momentum ETF

Strategy

The index selects stocks from the Canadian large-cap universe scoring highest on proprietary momentum signals developed by Fidelity Product Services. Quarterly rebalancing aims to capture medium-term trend persistence while managing turnover. At 100 holdings the portfolio is concentrated enough that sector-level leadership tilts dominate any individual stock moves.

Momentum is a self-correcting factor: it tends to work until it doesn't, and rotations in Canadian equity (from energy to financials, or resources to industrials) can flip the portfolio's sector weight sharply at each rebalance. Note: Yahoo Finance data for FCCM.NE begins after the Cboe Canada migration; the on-page chart reflects partial history. Full returns since the June 2020 inception are at Fidelity Canada.

Manager and Issuer Pedigree

Fidelity Investments Canada manages around $380 billion CAD (April 2026), giving it institutional distribution and operational depth. The FCCM index is proprietary to Fidelity Product Services, so index methodology is disclosed in prospectus and ETF Facts documents rather than a third-party provider.

Portfolio management is delegated to Geode Capital Management, the systematic manager Fidelity spun out in 2001 and which now runs $1.9 trillion (March 2026) across equity indices and systematic strategies. Geode's mandate is efficient implementation, not active stock selection.

Outperformance

Outperforms when Canadian equity sector leadership persists quarter over quarter: resource rallies that compound, financial sector runs, or industrial cycles where winners keep winning into the next rebalance.

Underperforms when sector leadership reverses abruptly, crowding last quarter's winners into this quarter's exits; favorable tape is one-directional domestic leadership with follow-through, not the sudden rotation where prior momentum becomes concentrated risk.

Learn the strategy

Read the factor investing guide for the return driver, failure modes, and how this type of sleeve fits in an alpha stacking portfolio.

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Official sources

Use the issuer and regulatory documents below to verify current holdings, fees, exposure, and risk disclosures.

Fidelity Canada (FCCM)

How Alpha Stacking uses source documents and chart data

Beta and MER may not be accurate.
Educational content only; not investment advice. Past performance does not guarantee future results.