AWMIX vs. VO

Last updated Jun 24, 2026

AWMIX (CIBC Atlas Mid Cap Equity Fund) and VO (Vanguard Mid-Cap ETF) are both funds - AWMIX is a Mid Cap Growth Equities fund managed by CIBC Private Wealth Management, while VO is a Mid Cap Blend Equities fund tracking the CRSP US Mid Cap Index. Over the past 10 years, AWMIX returned 9.20%/yr vs 11.93%/yr for VO. Their correlation of 0.94 suggests significant overlap in exposure. AWMIX charges 0.83%/yr vs 0.03%/yr for VO.

Performance

AWMIX vs. VO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CIBC Atlas Mid Cap Equity Fund (AWMIX) and Vanguard Mid-Cap ETF (VO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with AWMIX having a 9.87% return and VO slightly higher at 10.36%. Over the past 10 years, AWMIX has underperformed VO with an annualized return of 9.20%, while VO has yielded a comparatively higher 11.93% annualized return.

AWMIX

• 1D: 0.15%
• 1M: 4.12%
• YTD: 9.87%
• 6M: 8.24%
• 1Y: 9.41%
• 3Y*: 8.73%
• 5Y*: 3.34%
• 10Y*: 9.20%

VO

• 1D: -0.85%
• 1M: 2.16%
• YTD: 10.36%
• 6M: 9.10%
• 1Y: 17.71%
• 3Y*: 16.26%
• 5Y*: 7.72%
• 10Y*: 11.93%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AWMIX vs. VO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AWMIX CIBC Atlas Mid Cap Equity Fund	9.87%	2.14%	4.16%	19.63%	-23.66%	19.86%	18.38%	34.57%	-6.76%	20.87%
VO Vanguard Mid-Cap ETF	10.36%	11.62%	15.31%	16.03%	-18.73%	24.70%	18.10%	30.98%	-9.24%	19.28%

Correlation

The correlation between AWMIX and VO is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jun 30, 2014	0.94

The correlation between AWMIX and VO has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

AWMIX vs. VO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AWMIX

AWMIX Risk / Return Rank: 10
AWMIX Sharpe Ratio Rank: 9
AWMIX Sortino Ratio Rank: 9
AWMIX Omega Ratio Rank: 8
AWMIX Calmar Ratio Rank: 11
AWMIX Martin Ratio Rank: 12

VO

VO Risk / Return Rank: 43
VO Sharpe Ratio Rank: 41
VO Sortino Ratio Rank: 40
VO Omega Ratio Rank: 39
VO Calmar Ratio Rank: 45
VO Martin Ratio Rank: 50

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AWMIX vs. VO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CIBC Atlas Mid Cap Equity Fund (AWMIX) and Vanguard Mid-Cap ETF (VO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AWMIX	VO	Difference
Sharpe ratio: Return per unit of total volatility	0.67	1.39	-0.72
Sortino ratio: Return per unit of downside risk	1.08	2.00	-0.92
Omega ratio: Gain probability vs. loss probability	1.12	1.24	-0.12
Calmar ratio: Return relative to maximum drawdown	1.00	2.18	-1.18
Martin ratio: Return relative to average drawdown	3.28	8.21	-4.93

AWMIX vs. VO - Sharpe Ratio Comparison

The current AWMIX Sharpe Ratio is 0.67, which is lower than the VO Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of AWMIX and VO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AWMIX vs. VO - Drawdown Comparison

The maximum AWMIX drawdown since its inception was -37.53%, smaller than the maximum VO drawdown of -58.87%. Use the drawdown chart below to compare losses from any high point for AWMIX and VO.

Drawdown Indicators

	AWMIX	VO	Difference
Max Drawdown Largest peak-to-trough decline	-37.53%	-58.87%	+21.34%
Max Drawdown (1Y) Largest decline over 1 year	-10.42%	-8.17%	-2.25%
Max Drawdown (3Y) Largest decline over 3 years	-28.10%	-19.02%	-9.08%
Max Drawdown (5Y) Largest decline over 5 years	-29.81%	-27.57%	-2.24%
Max Drawdown (10Y) Largest decline over 10 years	-37.53%	-39.37%	+1.84%
Current Drawdown Current decline from peak	-2.98%	-1.29%	-1.69%
Average Drawdown Average peak-to-trough decline	-7.32%	-7.85%	+0.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.18%	2.16%	+1.02%

Volatility

AWMIX vs. VO - Volatility Comparison

CIBC Atlas Mid Cap Equity Fund (AWMIX) has a higher volatility of 5.57% compared to Vanguard Mid-Cap ETF (VO) at 4.46%. This indicates that AWMIX's price experiences larger fluctuations and is considered to be riskier than VO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AWMIX	VO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.57%	4.46%	+1.11%
Volatility (6M) Calculated over the trailing 6-month period	12.30%	9.84%	+2.46%
Volatility (1Y) Calculated over the trailing 1-year period	15.53%	12.81%	+2.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.01%	17.66%	+2.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.28%	18.93%	+1.35%

AWMIX vs. VO - Expense Ratio Comparison

AWMIX has a 0.83% expense ratio, which is higher than VO's 0.03% expense ratio.

Dividends

AWMIX vs. VO - Dividend Comparison

AWMIX's dividend yield for the trailing twelve months is around 10.24%, more than VO's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AWMIX CIBC Atlas Mid Cap Equity Fund	10.24%	11.25%	0.00%	4.34%	1.57%	10.46%	2.48%	0.00%	0.00%	0.00%	1.34%	0.09%
VO Vanguard Mid-Cap ETF	1.36%	1.52%	1.49%	1.52%	1.60%	1.12%	1.45%	1.48%	1.82%	1.35%	1.45%	1.47%

Frequently Asked Questions

Can I hold both AWMIX and VO in my portfolio?

With a correlation of 0.91, AWMIX and VO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AWMIX or VO?

AWMIX has higher volatility (5.57%) compared to VO (4.46%). In terms of maximum drawdown, AWMIX dropped -37.53% vs VO's -58.87%.

Which has better risk-adjusted returns?

VO currently has the higher Sharpe Ratio (1.39 vs 0.67), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.