Your opinion of this ETF please, and compare/contrast with similar fixed-income ETFs from others. Additional comments re: Fidelity Canada ETFs (not funds) in general would be welcome.
As always, Thank you
IslandJohn
Fidelity has too many ETFs for a full discourse, but generally they are fairly solid overall, but also fairly conservative. Fidelity prefers to 'keep the money' rather than 'make the money'. But we would have no qualms about most of their offerings, if one is a conservative investor. FCSB is $284M in assets, fees 0.40%, yield 3.44%, five year annualized 2.69%. YTD performance 3.52%. Long term performance has not been great, but to be fair the bond market has had some horrible recent years. The ETF owns a portfolio of mostly Canadian (90%) short term (2 year duration average) corporate (96%) bonds. The short term nature reduces risk somewhat, but corporate bonds are generally riskier than government bonds. But with interest rates falling we would expect performance to improve a bit. A similar fund, CBO, has more assets, lower fees, yield 3.48% and slightly lower returns (5 year 2.33% but YTD 3.83%).