CGHY.TO vs. CDLB.TO

Last updated Jun 4, 2026

CGHY.TO (CI High Yield Bond Private Pool ETF C$ Series) and CDLB.TO (CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series) are both exchange-traded funds - CGHY.TO is a High Yield Bonds fund actively managed by CI Global Asset Management, while CDLB.TO is a Intermediate Core-Plus Bond fund actively managed by CI Global Asset Management. Both are actively managed. Over the past 5 years, CGHY.TO returned 9.45%/yr vs -0.60%/yr for CDLB.TO. At a 0.13 correlation, their price movements are largely independent. CGHY.TO charges 0.76%/yr vs 0.85%/yr for CDLB.TO.

Performance

CGHY.TO vs. CDLB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI High Yield Bond Private Pool ETF C$ Series (CGHY.TO) and CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series (CDLB.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CGHY.TO achieves a 3.03% return, which is significantly higher than CDLB.TO's -0.54% return.

CGHY.TO

• 1D: 0.29%
• 1M: 1.40%
• YTD: 3.03%
• 6M: 2.75%
• 1Y: 7.80%
• 3Y*: 9.27%
• 5Y*: 9.45%
• 10Y*: 6.68%

CDLB.TO

• 1D: 0.31%
• 1M: 0.19%
• YTD: -0.54%
• 6M: -0.14%
• 1Y: 3.58%
• 3Y*: 3.08%
• 5Y*: -0.60%
• 10Y*: —

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

CGHY.TO vs. CDLB.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
CGHY.TO CI High Yield Bond Private Pool ETF C$ Series	3.03%	6.19%	9.66%	13.41%	13.50%	2.47%	13.74%
CDLB.TO CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series	-0.54%	5.44%	2.59%	2.12%	-12.02%	-0.11%	3.68%

Correlation

The correlation between CGHY.TO and CDLB.TO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (All Time) Calculated using the full available price history since May 11, 2020	0.13

Return for Risk

CGHY.TO vs. CDLB.TO — Risk / Return Rank

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

CGHY.TO

CGHY.TO Risk / Return Rank: 48
CGHY.TO Sharpe Ratio Rank: 35
CGHY.TO Sortino Ratio Rank: 33
CGHY.TO Omega Ratio Rank: 34
CGHY.TO Calmar Ratio Rank: 73
CGHY.TO Martin Ratio Rank: 65

CDLB.TO

CDLB.TO Risk / Return Rank: 38
CDLB.TO Sharpe Ratio Rank: 29
CDLB.TO Sortino Ratio Rank: 28
CDLB.TO Omega Ratio Rank: 69
CDLB.TO Calmar Ratio Rank: 35
CDLB.TO Martin Ratio Rank: 29

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.

CGHY.TO vs. CDLB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI High Yield Bond Private Pool ETF C$ Series (CGHY.TO) and CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series (CDLB.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.

	CGHY.TO	CDLB.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.23	0.99	+0.25
Sortino ratio: Return per unit of downside risk	1.73	1.49	+0.24
Omega ratio: Gain probability vs. loss probability	1.23	1.40	-0.18
Calmar ratio: Return relative to maximum drawdown	3.60	1.70	+1.90
Martin ratio: Return relative to average drawdown	11.65	4.08	+7.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CGHY.TO vs. CDLB.TO - Sharpe Ratio Comparison

The current CGHY.TO Sharpe Ratio is 1.23, which is comparable to the CDLB.TO Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of CGHY.TO and CDLB.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

	CGHY.TO	CDLB.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	0.99	+0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	-0.12	+0.77
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.00	+0.45

Drawdowns

CGHY.TO vs. CDLB.TO - Drawdown Comparison

The maximum CGHY.TO drawdown since its inception was -24.44%, which is greater than CDLB.TO's maximum drawdown of -17.06%. Use the drawdown chart below to compare losses from any high point for CGHY.TO and CDLB.TO.

Drawdown Indicators

	CGHY.TO	CDLB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-24.44%	-17.06%	-7.38%
Max Drawdown (1Y) Largest decline over 1 year	-2.18%	-2.11%	-0.07%
Max Drawdown (3Y) Largest decline over 3 years	-4.92%	-5.63%	+0.71%
Max Drawdown (5Y) Largest decline over 5 years	-9.81%	-17.06%	+7.25%
Max Drawdown (10Y) Largest decline over 10 years	-24.44%	—	—
Current Drawdown Current decline from peak	0.00%	-3.97%	+3.97%
Average Drawdown Average peak-to-trough decline	-2.05%	-6.60%	+4.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	0.88%	-0.21%

Volatility

CGHY.TO vs. CDLB.TO - Volatility Comparison

CI High Yield Bond Private Pool ETF C$ Series (CGHY.TO) has a higher volatility of 1.34% compared to CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series (CDLB.TO) at 1.10%. This indicates that CGHY.TO's price experiences larger fluctuations and is considered to be riskier than CDLB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGHY.TO	CDLB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.34%	1.10%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	5.14%	2.32%	+2.82%
Volatility (1Y) Calculated over the trailing 1-year period	6.38%	3.64%	+2.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.51%	5.25%	+9.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.00%	4.85%	+8.15%

CGHY.TO vs. CDLB.TO - Expense Ratio Comparison

CGHY.TO has a 0.76% expense ratio, which is lower than CDLB.TO's 0.85% expense ratio.

Dividends

CGHY.TO vs. CDLB.TO - Dividend Comparison

CGHY.TO's dividend yield for the trailing twelve months is around 5.25%, more than CDLB.TO's 4.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CDLB.TO CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series	4.69%	4.45%	4.35%	3.60%	2.81%	2.38%	1.14%	0.00%	0.00%	0.00%	0.00%	0.00%
CGHY.TO CI High Yield Bond Private Pool ETF C$ Series	5.25%	5.40%	4.99%	5.14%	5.08%	6.32%	6.08%	5.65%	5.91%	5.45%	5.57%	5.23%

Frequently Asked Questions

Can I hold both CGHY.TO and CDLB.TO in my portfolio?

CGHY.TO and CDLB.TO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CGHY.TO or CDLB.TO?

On fees, CGHY.TO is cheaper at 0.76% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CGHY.TO or CDLB.TO?

CGHY.TO is cheaper with a 0.76% expense ratio, compared with 0.85% for CDLB.TO.

What is the main difference between CGHY.TO and CDLB.TO?

CGHY.TO is categorized as High Yield Bonds, while CDLB.TO is Intermediate Core-Plus Bond. Their fees differ too: 0.76% for CGHY.TO and 0.85% for CDLB.TO.