CEW.TO vs. FIE.TO
CEW.TO (iShares Equal Weight Banc & Lifeco ETF) and FIE.TO (iShares Canadian Financial Monthly Income ETF) are both Financials Equities funds from iShares. CEW.TO is passively managed, while FIE.TO is actively managed. Over the past 10 years, CEW.TO returned 16.59%/yr vs 12.31%/yr for FIE.TO. Their correlation of 0.85 suggests significant overlap in exposure. CEW.TO charges 0.61%/yr vs 0.74%/yr for FIE.TO.
Performance
CEW.TO vs. FIE.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CEW.TO achieves a 26.79% return, which is significantly higher than FIE.TO's 14.56% return. Over the past 10 years, CEW.TO has outperformed FIE.TO with an annualized return of 16.59%, while FIE.TO has yielded a comparatively lower 12.31% annualized return.
CEW.TO
- 1D
- 0.00%
- 1M
- 8.49%
- YTD
- 26.79%
- 6M
- 23.07%
- 1Y
- 56.83%
- 3Y*
- 35.13%
- 5Y*
- 20.07%
- 10Y*
- 16.59%
FIE.TO
- 1D
- 0.09%
- 1M
- 4.86%
- YTD
- 14.56%
- 6M
- 11.23%
- 1Y
- 32.60%
- 3Y*
- 26.44%
- 5Y*
- 13.03%
- 10Y*
- 12.31%
CEW.TO vs. FIE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CEW.TO iShares Equal Weight Banc & Lifeco ETF | 26.79% | 32.70% | 29.62% | 17.18% | -6.76% | 29.51% | -0.38% | 25.64% | -12.71% | 12.06% |
FIE.TO iShares Canadian Financial Monthly Income ETF | 14.56% | 24.36% | 27.62% | 12.58% | -14.35% | 27.34% | 1.33% | 18.97% | -9.12% | 12.01% |
Correlation
The correlation between CEW.TO and FIE.TO is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2010 | 0.85 |
The correlation between CEW.TO and FIE.TO has been stable across timeframes, ranging from 0.85 to 0.93 - a consistent structural relationship.
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Return for Risk
CEW.TO vs. FIE.TO — Risk / Return Rank
CEW.TO
FIE.TO
CEW.TO vs. FIE.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 iShares Canadian Financial Monthly Income ETF (FIE.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.
| CEW.TO | FIE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.21 | ||
| Sortino ratioReturn per unit of downside risk | +1.54 | ||
| Omega ratioGain probability vs. loss probability | 1.89 | 1.71 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 8.02 | 4.55 | +3.46 |
| Martin ratioReturn relative to average drawdown | 29.59 | 14.80 | +14.79 |
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Drawdowns
CEW.TO vs. FIE.TO - Drawdown Comparison
The maximum CEW.TO drawdown since its inception was -53.50%, which is greater than FIE.TO's maximum drawdown of -42.24%. Use the drawdown chart below to compare losses from any high point for CEW.TO and FIE.TO.
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Drawdown Indicators
| CEW.TO | FIE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.50% | -42.24% | -11.26% |
Max Drawdown (1Y)Largest decline over 1 year | -7.13% | -7.19% | +0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -12.72% | -10.70% | -2.02% |
Max Drawdown (5Y)Largest decline over 5 years | -22.41% | -22.93% | +0.52% |
Max Drawdown (10Y)Largest decline over 10 years | -43.66% | -42.24% | -1.42% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -6.93% | -4.88% | -2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 2.21% | -0.28% |
Volatility
CEW.TO vs. FIE.TO - Volatility Comparison
iShares Equal Weight Banc & Lifeco ETF (CEW.TO) has a higher volatility of 3.63% compared to iShares Canadian Financial Monthly Income ETF (FIE.TO) at 2.54%. This indicates that CEW.TO's price experiences larger fluctuations and is considered to be riskier than FIE.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 | FIE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.63% | 2.54% | +1.09% |
Volatility (6M)Calculated over the trailing 6-month period | 10.17% | 7.83% | +2.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.79% | 9.02% | +2.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.57% | 10.55% | +3.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.01% | 14.06% | +2.95% |
CEW.TO vs. FIE.TO - Expense Ratio Comparison
CEW.TO has a 0.61% expense ratio, which is lower than FIE.TO's 0.74% expense ratio.
Dividends
CEW.TO vs. FIE.TO - Dividend Comparison
CEW.TO's dividend yield for the trailing twelve months is around 2.25%, less than FIE.TO's 4.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEW.TO iShares Equal Weight Banc & Lifeco ETF | 2.25% | 2.82% | 3.41% | 3.98% | 3.95% | 3.10% | 3.83% | 3.39% | 3.13% | 2.62% | 2.70% | 2.91% |
FIE.TO iShares Canadian Financial Monthly Income ETF | 4.34% | 4.94% | 5.83% | 6.98% | 7.31% | 5.92% | 7.10% | 6.65% | 7.38% | 6.28% | 6.59% | 7.43% |
Frequently Asked Questions
With a correlation of 0.93, CEW.TO and FIE.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 0.74% for FIE.TO.
Their fees differ too: 0.61% for CEW.TO and 0.74% for FIE.TO.
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