CEW.TO vs. CIC.TO
CEW.TO (iShares Equal Weight Banc & Lifeco ETF) and CIC.TO (CI Canadian Banks Covered Call Income Class ETF) are both Financials Equities funds. CEW.TO is passively managed, while CIC.TO is actively managed. Over the past 10 years, CEW.TO returned 15.05%/yr vs 12.90%/yr for CIC.TO. A 0.72 correlation means they provide meaningful diversification when combined. CEW.TO charges 0.61%/yr vs 0.87%/yr for CIC.TO.
Performance
CEW.TO vs. CIC.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with CEW.TO having a 15.99% return and CIC.TO slightly higher at 16.07%. Over the past 10 years, CEW.TO has outperformed CIC.TO with an annualized return of 15.05%, while CIC.TO has yielded a comparatively lower 12.90% annualized 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%
CIC.TO
- 1D
- -0.40%
- 1M
- 4.82%
- YTD
- 16.07%
- 6M
- 20.80%
- 1Y
- 49.89%
- 3Y*
- 26.94%
- 5Y*
- 14.52%
- 10Y*
- 12.90%
CEW.TO vs. CIC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CEW.TO iShares Equal Weight Banc & Lifeco ETF | 15.99% | 32.58% | 29.48% | 17.04% | -6.85% | 29.26% | -0.63% | 25.38% | -12.85% | 11.88% |
CIC.TO CI Canadian Banks Covered Call Income Class ETF | 16.07% | 36.24% | 21.30% | 6.58% | -10.99% | 33.76% | 1.89% | 14.12% | -8.88% | 12.14% |
Correlation
The correlation between CEW.TO and CIC.TO is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2010 | 0.72 |
The correlation between CEW.TO and CIC.TO shifts across timeframes, from 0.72 (all time) to 0.88 (5 years), reflecting how their relationship changes across market environments.
CEW.TO vs. CIC.TO - Sectors Allocation Comparison
Sectors
CEW.TO
CIC.TO
Financial Services
Basic Materials
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Communication Services
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Consumer Cyclical
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Consumer Defensive
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Energy
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Healthcare
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Industrials
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Real Estate
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Technology
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Utilities
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Financial Services
CEW.TO
CIC.TO
Basic Materials
CEW.TO
-
CIC.TO
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Communication Services
CEW.TO
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CIC.TO
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Consumer Cyclical
CEW.TO
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CIC.TO
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Consumer Defensive
CEW.TO
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CIC.TO
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Energy
CEW.TO
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CIC.TO
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Healthcare
CEW.TO
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CIC.TO
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Industrials
CEW.TO
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CIC.TO
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Real Estate
CEW.TO
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CIC.TO
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Technology
CEW.TO
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CIC.TO
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Utilities
CEW.TO
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CIC.TO
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Return for Risk
CEW.TO vs. CIC.TO — Risk / Return Rank
CEW.TO
CIC.TO
CEW.TO vs. CIC.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 CI Canadian Banks Covered Call Income Class ETF (CIC.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.TO | CIC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.71 | 1.87 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 6.29 | 6.09 | +0.20 |
| Martin ratioReturn relative to average drawdown | 23.14 | 28.56 | -5.41 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CEW.TO | CIC.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.86 | 4.45 | -0.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.31 | 1.15 | +0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.89 | 0.80 | +0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.69 | -0.10 |
Drawdowns
CEW.TO vs. CIC.TO - Drawdown Comparison
The maximum CEW.TO drawdown since its inception was -53.58%, which is greater than CIC.TO's maximum drawdown of -38.55%. Use the drawdown chart below to compare losses from any high point for CEW.TO and CIC.TO.
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Drawdown Indicators
| CEW.TO | CIC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.58% | -38.55% | -15.03% |
Max Drawdown (1Y)Largest decline over 1 year | -7.13% | -8.23% | +1.10% |
Max Drawdown (3Y)Largest decline over 3 years | -12.74% | -14.32% | +1.58% |
Max Drawdown (5Y)Largest decline over 5 years | -22.46% | -26.34% | +3.88% |
Max Drawdown (10Y)Largest decline over 10 years | -43.66% | -38.55% | -5.11% |
Current DrawdownCurrent decline from peak | -1.50% | -1.58% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -7.02% | -5.49% | -1.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 1.75% | +0.18% |
Volatility
CEW.TO vs. CIC.TO - Volatility Comparison
The current volatility for iShares Equal Weight Banc & Lifeco ETF (CEW.TO) is 3.65%, while CI Canadian Banks Covered Call Income Class ETF (CIC.TO) has a volatility of 4.00%. This indicates that CEW.TO experiences smaller price fluctuations and is considered to be less risky than CIC.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.TO | CIC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.65% | 4.00% | -0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 10.12% | 9.95% | +0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.61% | 11.26% | +0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.49% | 12.75% | +0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.00% | 16.29% | +0.71% |
CEW.TO vs. CIC.TO - Expense Ratio Comparison
CEW.TO has a 0.61% expense ratio, which is lower than CIC.TO's 0.87% expense ratio.
Dividends
CEW.TO vs. CIC.TO - Dividend Comparison
CEW.TO's dividend yield for the trailing twelve months is around 2.42%, less than CIC.TO's 5.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
CIC.TO CI Canadian Banks Covered Call Income Class ETF | 5.25% | 5.72% | 6.71% | 7.37% | 7.64% | 5.48% | 9.56% | 6.16% | 6.61% | 5.68% | 6.72% | 7.31% |
Frequently Asked Questions
CEW.TO and CIC.TO have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CEW.TO is cheaper at 0.61% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEW.TO is cheaper with a 0.61% expense ratio, compared with 0.87% for CIC.TO.
They also come from different issuers: iShares and CI. Their fees differ too: 0.61% for CEW.TO and 0.87% for CIC.TO.
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