CAGS.TO vs. CMAR.TO
CAGS.TO (CI Canadian Short-Term Aggregate Bond Index ETF) and CMAR.TO (CI Marret Alternative Absolute Return Bond Fund) are both exchange-traded funds - CAGS.TO is a Short-Term Bond fund managed by CI, while CMAR.TO is a Nontraditional Bonds fund actively managed by CI. Over the past 5 years, CAGS.TO returned 2.10%/yr vs 1.34%/yr for CMAR.TO. At a 0.28 correlation, their price movements are largely independent.
Performance
CAGS.TO vs. CMAR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CAGS.TO achieves a 1.19% return, which is significantly lower than CMAR.TO's 1.73% return.
CAGS.TO
- 1D
- 0.08%
- 1M
- -0.02%
- 6M
- 0.87%
- YTD
- 1.19%
- 1Y
- 3.25%
- 3Y*
- 5.01%
- 5Y*
- 2.10%
- 10Y*
- —
- ALL TIME*
- 2.33%
CMAR.TO
- 1D
- 0.22%
- 1M
- -0.24%
- 6M
- 1.34%
- YTD
- 1.73%
- 1Y
- 3.65%
- 3Y*
- 4.64%
- 5Y*
- 1.34%
- 10Y*
- —
- ALL TIME*
- 2.17%
CAGS.TO vs. CMAR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CAGS.TO CI Canadian Short-Term Aggregate Bond Index ETF | 1.19% | 3.95% | 6.07% | 5.02% | -4.30% | -1.22% | 3.90% |
CMAR.TO CI Marret Alternative Absolute Return Bond Fund | 1.73% | 4.98% | 3.37% | 5.33% | -8.32% | 0.98% | 6.73% |
Correlation
The correlation between CAGS.TO and CMAR.TO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2020 | 0.28 |
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Return for Risk
CAGS.TO vs. CMAR.TO — Risk / Return Rank
CAGS.TO
CMAR.TO
CAGS.TO vs. CMAR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Canadian Short-Term Aggregate Bond Index ETF (CAGS.TO) and CI Marret Alternative Absolute Return Bond Fund (CMAR.TO). 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.
| CAGS.TO | CMAR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.22 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 1.91 | +0.54 |
| Martin ratioReturn relative to average drawdown | 7.38 | 7.47 | -0.08 |
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Drawdowns
CAGS.TO vs. CMAR.TO - Drawdown Comparison
The maximum CAGS.TO drawdown since its inception was -11.60%, roughly equal to the maximum CMAR.TO drawdown of -12.07%. Use the drawdown chart below to compare losses from any high point for CAGS.TO and CMAR.TO.
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Drawdown Indicators
| CAGS.TO | CMAR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.60% | -12.07% | +0.47% |
Max Drawdown (1Y)Largest decline over 1 year | -1.33% | -1.92% | +0.59% |
Max Drawdown (3Y)Largest decline over 3 years | -1.33% | -5.60% | +4.27% |
Max Drawdown (5Y)Largest decline over 5 years | -7.58% | -12.07% | +4.49% |
Current DrawdownCurrent decline from peak | -0.27% | -0.44% | +0.17% |
Average DrawdownAverage peak-to-trough decline | -1.45% | -2.83% | +1.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 0.49% | -0.05% |
Volatility
CAGS.TO vs. CMAR.TO - Volatility Comparison
The current volatility for CI Canadian Short-Term Aggregate Bond Index ETF (CAGS.TO) is 0.68%, while CI Marret Alternative Absolute Return Bond Fund (CMAR.TO) has a volatility of 0.94%. This indicates that CAGS.TO experiences smaller price fluctuations and is considered to be less risky than CMAR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CAGS.TO | CMAR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 0.94% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 1.62% | 2.07% | -0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.06% | 3.50% | -1.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.76% | 5.82% | -3.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.62% | 5.36% | -0.74% |
Dividends
CAGS.TO vs. CMAR.TO - Dividend Comparison
CAGS.TO's dividend yield for the trailing twelve months is around 3.28%, less than CMAR.TO's 4.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CAGS.TO CI Canadian Short-Term Aggregate Bond Index ETF | 3.28% | 3.16% | 3.37% | 2.62% | 2.61% | 1.96% | 2.59% | 2.83% | 2.72% | 1.06% |
CMAR.TO CI Marret Alternative Absolute Return Bond Fund | 4.44% | 4.42% | 4.44% | 4.39% | 3.49% | 2.93% | 2.39% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CAGS.TO and CMAR.TO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CAGS.TO is categorized as Short-Term Bond, while CMAR.TO is Nontraditional Bonds.
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