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CEW.TO vs. CBNK.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CEW.TO vs. CBNK.TO

Last updated Jun 4, 2026

CEW.TO (iShares Equal Weight Banc & Lifeco ETF) and CBNK.TO (Mulvihill Canadian Bank Enhanced Yield ETF) are both exchange-traded funds - CEW.TO is a Financials Equities fund tracking the Morningstar Gbl Fin Svc GR CAD, while CBNK.TO is a Derivative Income fund actively managed by Mulvihill. CEW.TO is passively managed, while CBNK.TO is actively managed. Over the past 3 years, CEW.TO returned 29.74%/yr vs 38.97%/yr for CBNK.TO. A 0.79 correlation means they provide meaningful diversification when combined.

Performance

CEW.TO vs. CBNK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Equal Weight Banc & Lifeco ETF (CEW.TO) and Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CEW.TO achieves a 15.99% return, which is significantly lower than CBNK.TO's 25.56% return.

CEW.TO

1D
-0.28%
1M
4.69%
YTD
15.99%
6M
18.59%
1Y
44.58%
3Y*
29.74%
5Y*
17.56%
10Y*
15.05%

CBNK.TO

1D
0.42%
1M
7.74%
YTD
25.56%
6M
32.17%
1Y
79.20%
3Y*
38.97%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

CEW.TO vs. CBNK.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022
CEW.TO
iShares Equal Weight Banc & Lifeco ETF		15.99%32.58%29.48%17.04%-10.27%
CBNK.TO
Mulvihill Canadian Bank Enhanced Yield ETF		25.56%51.67%27.42%8.42%-19.87%

Correlation

The correlation between CEW.TO and CBNK.TO is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.74

Correlation (3Y)
Calculated over the trailing 3-year period

0.79

Correlation (All Time)
Calculated using the full available price history since Mar 3, 2022

0.79

The correlation between CEW.TO and CBNK.TO has been stable across timeframes, ranging from 0.74 to 0.79 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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iShares Equal Weight Banc & Lifeco ETF

Mulvihill Canadian Bank Enhanced Yield ETF

Often compared with CEW.TO:
CEW.TO vs. XFN.TOCEW.TO vs. BMOCEW.TO vs. XDIV.TOCEW.TO vs. TEC.TOCEW.TO vs. VFV.TOCEW.TO vs. RY.TOCEW.TO vs. SPY
Often compared with CBNK.TO:
CBNK.TO vs. BANK.TOCBNK.TO vs. BKCL.TOCBNK.TO vs. YGOG.NEOCBNK.TO vs. CANY.TOCBNK.TO vs. NXF.TOCBNK.TO vs. ECHI.TOCBNK.TO vs. VDY.TO

Return for Risk

CEW.TO vs. CBNK.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CEW.TO
CEW.TO Risk / Return Rank: 9494
Overall Rank
CEW.TO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
CEW.TO Sortino Ratio Rank: 9595
Sortino Ratio Rank
CEW.TO Omega Ratio Rank: 9494
Omega Ratio Rank
CEW.TO Calmar Ratio Rank: 9292
Calmar Ratio Rank
CEW.TO Martin Ratio Rank: 9292
Martin Ratio Rank
CBNK.TO
CBNK.TO Risk / Return Rank: 9696
Overall Rank
CBNK.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
CBNK.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
CBNK.TO Omega Ratio Rank: 9797
Omega Ratio Rank
CBNK.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
CBNK.TO Martin Ratio Rank: 9696
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.

CEW.TO vs. CBNK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Equal Weight Banc & Lifeco ETF (CEW.TO) and Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.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.

CEW.TOCBNK.TODifference
Sharpe ratioReturn per unit of total volatility
3.86
5.12

-1.26

Sortino ratioReturn per unit of downside risk
5.25
6.76

-1.51

Omega ratioGain probability vs. loss probability

1.71

1.87

-0.15

Calmar ratioReturn relative to maximum drawdown

6.29

7.94

-1.65

Martin ratioReturn relative to average drawdown

23.14

34.25

-11.11

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CEW.TO vs. CBNK.TO - Sharpe Ratio Comparison

The current CEW.TO Sharpe Ratio is 3.86, which is comparable to the CBNK.TO Sharpe Ratio of 5.12. The chart below compares the historical Sharpe Ratios of CEW.TO and CBNK.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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Sharpe Ratios by Period

CEW.TOCBNK.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.86

5.12

-1.26

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.31

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.89

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.59

1.10

-0.51

Drawdowns

CEW.TO vs. CBNK.TO - Drawdown Comparison

The maximum CEW.TO drawdown since its inception was -53.58%, which is greater than CBNK.TO's maximum drawdown of -32.12%. Use the drawdown chart below to compare losses from any high point for CEW.TO and CBNK.TO.

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Drawdown Indicators

CEW.TOCBNK.TODifference

Max Drawdown

Largest peak-to-trough decline

-53.58%

-32.12%

-21.46%

Max Drawdown (1Y)

Largest decline over 1 year

-7.13%

-10.03%

+2.90%

Max Drawdown (3Y)

Largest decline over 3 years

-12.74%

-17.92%

+5.18%

Max Drawdown (5Y)

Largest decline over 5 years

-22.46%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-43.66%

—

—

Current Drawdown

Current decline from peak

-1.50%

-2.29%

+0.79%

Average Drawdown

Average peak-to-trough decline

-7.02%

-10.92%

+3.90%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.93%

2.32%

-0.39%

Volatility

CEW.TO vs. CBNK.TO - Volatility Comparison

The current volatility for iShares Equal Weight Banc & Lifeco ETF (CEW.TO) is 3.65%, while Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.TO) has a volatility of 5.67%. This indicates that CEW.TO experiences smaller price fluctuations and is considered to be less risky than CBNK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CEW.TOCBNK.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.65%

5.67%

-2.02%

Volatility (6M)

Calculated over the trailing 6-month period

10.12%

13.29%

-3.17%

Volatility (1Y)

Calculated over the trailing 1-year period

11.61%

15.55%

-3.94%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.49%

17.55%

-4.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.00%

17.55%

-0.55%

Dividends

CEW.TO vs. CBNK.TO - Dividend Comparison

CEW.TO's dividend yield for the trailing twelve months is around 2.42%, less than CBNK.TO's 5.94% yield.

PositionTTM20252024202320222021202020192018201720162015
CBNK.TO
Mulvihill Canadian Bank Enhanced Yield ETF		5.94%5.86%8.25%9.59%7.85%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
CEW.TO
iShares Equal Weight Banc & Lifeco ETF		2.42%2.75%3.32%3.87%3.84%2.93%3.61%3.20%2.95%2.47%2.54%2.74%

Frequently Asked Questions

CEW.TO and CBNK.TO have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CEW.TO is categorized as Financials Equities, while CBNK.TO is Derivative Income. They also come from different issuers: iShares and Mulvihill.

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