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CCEF vs. DGRC.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CCEF vs. DGRC.TO

Last updated Jun 23, 2026

CCEF (Calamos CEF Income & Arbitrage ETF) and DGRC.TO (CI Canada Quality Dividend Growth Index ETF) are both Dividend funds. Over the past year, CCEF returned 15.76% vs 24.80% for DGRC.TO. At a 0.48 correlation, their price movements are largely independent. CCEF charges 2.74%/yr vs 0.23%/yr for DGRC.TO.

Performance

CCEF vs. DGRC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calamos CEF Income & Arbitrage ETF (CCEF) and CI Canada Quality Dividend Growth Index ETF (DGRC.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

CCEF is traded in USD, while DGRC.TO is traded in CAD. To make them comparable, the DGRC.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, CCEF achieves a 6.04% return, which is significantly lower than DGRC.TO's 10.19% return.

CCEF

1D
-0.09%
1M
0.89%
YTD
6.04%
6M
6.94%
1Y
15.76%
3Y*
—
5Y*
—
10Y*
—

DGRC.TO

1D
-0.15%
1M
-3.36%
YTD
10.19%
6M
10.20%
1Y
24.80%
3Y*
17.52%
5Y*
9.89%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

CCEF vs. DGRC.TO - Yearly Performance Comparison

2026 (YTD)20252024
CCEF
Calamos CEF Income & Arbitrage ETF		6.04%13.47%17.80%
DGRC.TO
CI Canada Quality Dividend Growth Index ETF		10.19%33.29%4.58%

Correlation

The correlation between CCEF and DGRC.TO is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.35

Correlation (All Time)
Calculated using the full available price history since Jan 16, 2024

0.48

The correlation between CCEF and DGRC.TO shifts across timeframes, from 0.35 (1 year) to 0.48 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Calamos CEF Income & Arbitrage ETF

CI Canada Quality Dividend Growth Index ETF

Often compared with CCEF:
CCEF vs. CEFSCCEF vs. CVRTCCEF vs. PCEFCCEF vs. RDFICCEF vs. PAPICCEF vs. HYMBCCEF vs. PG
Often compared with DGRC.TO:
DGRC.TO vs. VDY.TODGRC.TO vs. 3466.HKDGRC.TO vs. PDC.TODGRC.TO vs. VDIV.DEDGRC.TO vs. VYMDGRC.TO vs. RIT.TODGRC.TO vs. SCHD

Return for Risk

CCEF vs. DGRC.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CCEF
CCEF Risk / Return Rank: 5555
Overall Rank
CCEF Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
CCEF Sortino Ratio Rank: 5858
Sortino Ratio Rank
CCEF Omega Ratio Rank: 6262
Omega Ratio Rank
CCEF Calmar Ratio Rank: 4242
Calmar Ratio Rank
CCEF Martin Ratio Rank: 5353
Martin Ratio Rank
DGRC.TO
DGRC.TO Risk / Return Rank: 8484
Overall Rank
DGRC.TO Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
DGRC.TO Sortino Ratio Rank: 8181
Sortino Ratio Rank
DGRC.TO Omega Ratio Rank: 7979
Omega Ratio Rank
DGRC.TO Calmar Ratio Rank: 8888
Calmar Ratio Rank
DGRC.TO Martin Ratio Rank: 8888
Martin Ratio Rank
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.

CCEF vs. DGRC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calamos CEF Income & Arbitrage ETF (CCEF) and CI Canada Quality Dividend Growth Index ETF (DGRC.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.

CCEFDGRC.TODifference
Sharpe ratioReturn per unit of total volatility
1.92
2.01

-0.08

Sortino ratioReturn per unit of downside risk
2.66
2.79

-0.12

Omega ratioGain probability vs. loss probability

1.36

1.35

+0.01

Calmar ratioReturn relative to maximum drawdown

2.04

3.86

-1.82

Martin ratioReturn relative to average drawdown

8.80

13.41

-4.61

CCEF vs. DGRC.TO - Sharpe Ratio Comparison

The current CCEF Sharpe Ratio is 1.92, which is comparable to the DGRC.TO Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of CCEF and DGRC.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

CCEF vs. DGRC.TO - Drawdown Comparison

The maximum CCEF drawdown since its inception was -13.25%, smaller than the maximum DGRC.TO drawdown of -42.01%. Use the drawdown chart below to compare losses from any high point for CCEF and DGRC.TO.

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Drawdown Indicators

CCEFDGRC.TODifference

Max Drawdown

Largest peak-to-trough decline

-13.25%

-42.01%

+28.76%

Max Drawdown (1Y)

Largest decline over 1 year

-7.75%

-6.45%

-1.30%

Max Drawdown (3Y)

Largest decline over 3 years

—

-13.41%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-22.06%

—

Current Drawdown

Current decline from peak

-0.50%

-3.44%

+2.94%

Average Drawdown

Average peak-to-trough decline

-1.35%

-5.18%

+3.83%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.79%

1.87%

-0.08%

Volatility

CCEF vs. DGRC.TO - Volatility Comparison

The current volatility for Calamos CEF Income & Arbitrage ETF (CCEF) is 2.58%, while CI Canada Quality Dividend Growth Index ETF (DGRC.TO) has a volatility of 2.82%. This indicates that CCEF experiences smaller price fluctuations and is considered to be less risky than DGRC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CCEFDGRC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.58%

2.82%

-0.24%

Volatility (6M)

Calculated over the trailing 6-month period

6.98%

9.44%

-2.46%

Volatility (1Y)

Calculated over the trailing 1-year period

8.24%

12.43%

-4.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.78%

14.33%

-3.55%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.78%

16.35%

-5.57%

CCEF vs. DGRC.TO - Expense Ratio Comparison

CCEF has a 2.74% expense ratio, which is higher than DGRC.TO's 0.23% expense ratio.

Dividends

CCEF vs. DGRC.TO - Dividend Comparison

CCEF's dividend yield for the trailing twelve months is around 7.96%, more than DGRC.TO's 2.42% yield.

PositionTTM202520242023202220212020201920182017
CCEF
Calamos CEF Income & Arbitrage ETF		7.96%8.08%6.55%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
DGRC.TO
CI Canada Quality Dividend Growth Index ETF		2.42%2.58%2.46%2.56%2.48%1.87%3.06%2.20%1.79%0.23%

Frequently Asked Questions

CCEF and DGRC.TO have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, DGRC.TO is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

DGRC.TO is cheaper with a 0.23% expense ratio, compared with 2.74% for CCEF.

They also come from different issuers: Calamos and CI Investments. Their fees differ too: 2.74% for CCEF and 0.23% for DGRC.TO.

Portfolio Optimizer

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