CEQT.TO vs. BMAX.TO

Last updated Jun 4, 2026

CEQT.TO (CI Equity Asset Allocation ETF) and BMAX.TO (Brompton Enhanced Multi-Asset Income ETF) are both Diversified Portfolio funds. Over the past 3 years, CEQT.TO returned 22.17%/yr vs 18.63%/yr for BMAX.TO. At a 0.28 correlation, their price movements are largely independent. CEQT.TO charges 0.30%/yr vs 2.62%/yr for BMAX.TO.

Performance

CEQT.TO vs. BMAX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Equity Asset Allocation ETF (CEQT.TO) and Brompton Enhanced Multi-Asset Income ETF (BMAX.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CEQT.TO achieves a 13.14% return, which is significantly higher than BMAX.TO's 9.27% return.

CEQT.TO

• 1D: 0.75%
• 1M: 6.45%
• YTD: 13.14%
• 6M: 13.90%
• 1Y: 32.12%
• 3Y*: 22.17%
• 5Y*: —
• 10Y*: —

BMAX.TO

• 1D: -0.03%
• 1M: 4.64%
• YTD: 9.27%
• 6M: 9.79%
• 1Y: 22.18%
• 3Y*: 18.63%
• 5Y*: —
• 10Y*: —

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

CEQT.TO vs. BMAX.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CEQT.TO CI Equity Asset Allocation ETF	13.14%	18.84%	27.38%	6.47%
BMAX.TO Brompton Enhanced Multi-Asset Income ETF	9.27%	17.88%	19.42%	9.25%

Correlation

The correlation between CEQT.TO and BMAX.TO is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (All Time) Calculated using the full available price history since May 18, 2023	0.28

The correlation between CEQT.TO and BMAX.TO shifts across timeframes, from 0.27 (3 years) to 0.38 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

CEQT.TO vs. BMAX.TO — Risk / Return Rank

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

CEQT.TO

CEQT.TO Risk / Return Rank: 90
CEQT.TO Sharpe Ratio Rank: 89
CEQT.TO Sortino Ratio Rank: 94
CEQT.TO Omega Ratio Rank: 98
CEQT.TO Calmar Ratio Rank: 83
CEQT.TO Martin Ratio Rank: 86

BMAX.TO

BMAX.TO Risk / Return Rank: 59
BMAX.TO Sharpe Ratio Rank: 62
BMAX.TO Sortino Ratio Rank: 63
BMAX.TO Omega Ratio Rank: 62
BMAX.TO Calmar Ratio Rank: 48
BMAX.TO Martin Ratio Rank: 59

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.

CEQT.TO vs. BMAX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Equity Asset Allocation ETF (CEQT.TO) and Brompton Enhanced Multi-Asset Income ETF (BMAX.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.

	CEQT.TO	BMAX.TO	Difference
Sharpe ratio: Return per unit of total volatility	3.05	2.10	+0.95
Sortino ratio: Return per unit of downside risk	4.90	3.01	+1.90
Omega ratio: Gain probability vs. loss probability	2.03	1.38	+0.65
Calmar ratio: Return relative to maximum drawdown	4.44	2.38	+2.06
Martin ratio: Return relative to average drawdown	17.96	10.46	+7.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CEQT.TO vs. BMAX.TO - Sharpe Ratio Comparison

The current CEQT.TO Sharpe Ratio is 3.05, which is higher than the BMAX.TO Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of CEQT.TO and BMAX.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.

Sharpe Ratios by Period

	CEQT.TO	BMAX.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.05	2.10	+0.95
Sharpe Ratio (All Time) Calculated using the full available price history	1.67	1.38	+0.29

Drawdowns

CEQT.TO vs. BMAX.TO - Drawdown Comparison

The maximum CEQT.TO drawdown since its inception was -14.02%, smaller than the maximum BMAX.TO drawdown of -15.42%. Use the drawdown chart below to compare losses from any high point for CEQT.TO and BMAX.TO.

Drawdown Indicators

	CEQT.TO	BMAX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-14.02%	-15.42%	+1.40%
Max Drawdown (1Y) Largest decline over 1 year	-7.26%	-9.35%	+2.09%
Max Drawdown (3Y) Largest decline over 3 years	-14.02%	-15.42%	+1.40%
Current Drawdown Current decline from peak	0.00%	-0.96%	+0.96%
Average Drawdown Average peak-to-trough decline	-1.19%	-1.90%	+0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	2.13%	-0.34%

Volatility

CEQT.TO vs. BMAX.TO - Volatility Comparison

CI Equity Asset Allocation ETF (CEQT.TO) has a higher volatility of 3.70% compared to Brompton Enhanced Multi-Asset Income ETF (BMAX.TO) at 3.27%. This indicates that CEQT.TO's price experiences larger fluctuations and is considered to be riskier than BMAX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CEQT.TO	BMAX.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.70%	3.27%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	8.81%	8.81%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	10.58%	10.62%	-0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.11%	13.13%	-0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.11%	13.13%	-0.02%

CEQT.TO vs. BMAX.TO - Expense Ratio Comparison

CEQT.TO has a 0.30% expense ratio, which is lower than BMAX.TO's 2.62% expense ratio.

Dividends

CEQT.TO vs. BMAX.TO - Dividend Comparison

CEQT.TO's dividend yield for the trailing twelve months is around 0.90%, less than BMAX.TO's 9.59% yield.

Position	TTM	2025	2024	2023	2022
BMAX.TO Brompton Enhanced Multi-Asset Income ETF	9.59%	9.70%	9.64%	9.55%	2.41%
CEQT.TO CI Equity Asset Allocation ETF	0.90%	1.25%	1.82%	1.06%	0.00%

Frequently Asked Questions

Can I hold both CEQT.TO and BMAX.TO in my portfolio?

CEQT.TO and BMAX.TO have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CEQT.TO or BMAX.TO?

On fees, CEQT.TO is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CEQT.TO or BMAX.TO?

CEQT.TO is cheaper with a 0.30% expense ratio, compared with 2.62% for BMAX.TO.

What is the main difference between CEQT.TO and BMAX.TO?

They also come from different issuers: CI and Brompton Funds. Their fees differ too: 0.30% for CEQT.TO and 2.62% for BMAX.TO.