CARS.TO vs. MTRX.TO

Last updated Aug 4, 2026

CARS.TO (Evolve Automobile Innovation Index Fund - Hedged Units) and MTRX.TO (Global X Artificial Intelligence Infrastructure Index ETF) are both exchange-traded funds - CARS.TO is a Consumer Discretionary Equities fund tracking the Solactive Future Cars Index Canadian Dollar Hedged, while MTRX.TO is a Artificial Intelligence fund tracking the Mirae Asset AI Infrastructure CAD Index. Both are passively managed. Their 0.67 correlation means they have sometimes moved together and sometimes differently. CARS.TO charges 0.56%/yr vs 0.49%/yr for MTRX.TO.

Performance

CARS.TO vs. MTRX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Automobile Innovation Index Fund - Hedged Units (CARS.TO) and Global X Artificial Intelligence Infrastructure Index ETF (MTRX.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CARS.TO

• 1D: -0.84%
• 1M: -12.78%
• 6M: -0.53%
• YTD: 3.43%
• 1Y: 21.51%
• 3Y*: -4.42%
• 5Y*: -11.05%
• 10Y*: —
• ALL TIME*: 3.99%

MTRX.TO

• 1D: 1.30%
• 1M: -5.00%
• 6M: 11.47%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CARS.TO Evolve Automobile Innovation Index Fund - Hedged Units	CA$104.33K	CA$73.30K	CA$56.87K
MTRX.TO Global X Artificial Intelligence Infrastructure Index ETF	CA$296.14K	CA$305.77K	CA$391.46K

CARS.TO vs. MTRX.TO - Yearly Performance Comparison

	2026 (YTD)
CARS.TO Evolve Automobile Innovation Index Fund - Hedged Units	-3.79%
MTRX.TO Global X Artificial Intelligence Infrastructure Index ETF	15.90%

Correlation

The correlation between CARS.TO and MTRX.TO is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 20, 2026	0.67

Return for Risk

CARS.TO vs. MTRX.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CARS.TO

CARS.TO Risk / Return Rank: 23
CARS.TO Sharpe Ratio Rank: 23
CARS.TO Sortino Ratio Rank: 25
CARS.TO Omega Ratio Rank: 25
CARS.TO Calmar Ratio Rank: 21
CARS.TO Martin Ratio Rank: 21

MTRX.TO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CARS.TO vs. MTRX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Automobile Innovation Index Fund - Hedged Units (CARS.TO) and Global X Artificial Intelligence Infrastructure Index ETF (MTRX.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.

	CARS.TO	MTRX.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.54	—	—
Sortino ratio: Return per unit of downside risk	0.96	—	—
Omega ratio: Gain probability vs. loss probability	1.12	—	—
Calmar ratio: Return relative to maximum drawdown	0.62	—	—
Martin ratio: Return relative to average drawdown	1.56	—	—

Drawdowns

CARS.TO vs. MTRX.TO - Drawdown Comparison

The maximum CARS.TO drawdown since its inception was -74.55%, which is greater than MTRX.TO's maximum drawdown of -18.14%. Use the drawdown chart below to compare losses from any high point for CARS.TO and MTRX.TO.

Drawdown Indicators

	CARS.TO	MTRX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-74.55%	-18.14%	-56.41%
Max Drawdown (1Y) Largest decline over 1 year	-32.50%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-48.28%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-73.61%	—	—
Current Drawdown Current decline from peak	-54.86%	-12.47%	-42.39%
Average Drawdown Average peak-to-trough decline	-34.13%	-4.91%	-29.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.88%	—	—

Volatility

Volatility by Period

	CARS.TO	MTRX.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.61%	—	—
Volatility (6M) Calculated over the trailing 6-month period	30.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	37.66%	38.57%	-0.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.25%	38.57%	-2.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.32%	38.57%	-4.25%

CARS.TO vs. MTRX.TO - Expense Ratio Comparison

CARS.TO has a 0.56% expense ratio, which is higher than MTRX.TO's 0.49% expense ratio.

Dividends

CARS.TO vs. MTRX.TO - Dividend Comparison

CARS.TO's dividend yield for the trailing twelve months is around 1.02%, while MTRX.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CARS.TO Evolve Automobile Innovation Index Fund - Hedged Units	1.02%	0.85%	1.35%	1.01%	0.95%	0.44%	0.27%	0.53%	1.79%	0.45%
MTRX.TO Global X Artificial Intelligence Infrastructure Index ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CARS.TO and MTRX.TO in my portfolio?

CARS.TO and MTRX.TO have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CARS.TO or MTRX.TO?

On fees, MTRX.TO is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CARS.TO or MTRX.TO?

MTRX.TO is cheaper with a 0.49% expense ratio, compared with 0.56% for CARS.TO.

What is the main difference between CARS.TO and MTRX.TO?

CARS.TO is categorized as Consumer Discretionary Equities, while MTRX.TO is Artificial Intelligence. CARS.TO tracks Solactive Future Cars Index Canadian Dollar Hedged, while MTRX.TO tracks Mirae Asset AI Infrastructure CAD Index. They also come from different issuers: Evolve and Global X. Their fees differ too: 0.56% for CARS.TO and 0.49% for MTRX.TO.