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CGRA.TO vs. ZBAL.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CGRA.TO vs. ZBAL.TO

Last updated Jul 1, 2026
See Documentation

CGRA.TO (CI Global Real Asset Private Pool) and ZBAL.TO (BMO Balanced ETF) are both Global Allocation funds. Both are actively managed. Over the past 5 years, CGRA.TO returned 7.84%/yr vs 8.21%/yr for ZBAL.TO. At a 0.19 correlation, their price movements are largely independent.

Performance

CGRA.TO vs. ZBAL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Global Real Asset Private Pool (CGRA.TO) and BMO Balanced ETF (ZBAL.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, CGRA.TO achieves a 15.15% return, which is significantly higher than ZBAL.TO's 9.27% return.

CGRA.TO

1D
0.00%
1M
3.45%
YTD
15.15%
6M
15.15%
1Y
17.05%
3Y*
13.99%
5Y*
7.84%
10Y*
—

ZBAL.TO

1D
0.25%
1M
1.43%
YTD
9.27%
6M
8.90%
1Y
17.02%
3Y*
14.18%
5Y*
8.21%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

CGRA.TO vs. ZBAL.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
CGRA.TO
CI Global Real Asset Private Pool		15.15%7.16%10.58%6.33%-9.03%20.00%6.05%
ZBAL.TO
BMO Balanced ETF		9.27%11.34%16.15%12.61%-11.11%10.39%12.29%

Correlation

The correlation between CGRA.TO and ZBAL.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.18

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

0.17

Correlation (5Y)
Calculated over the trailing 5-year period

0.20

Correlation (All Time)
Calculated using the full available price history since May 21, 2020

0.19

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

CI Global Real Asset Private Pool

BMO Balanced ETF

Often compared with ZBAL.TO:
ZBAL.TO vs. XBAL.TOZBAL.TO vs. ZGRO.TOZBAL.TO vs. VBAL.TOZBAL.TO vs. VDY.TOZBAL.TO vs. ZEQT.TOZBAL.TO vs. ZLB.TOZBAL.TO vs. VGRO.TO

Return for Risk

CGRA.TO vs. ZBAL.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CGRA.TO
CGRA.TO Risk / Return Rank: 7676
Overall Rank
CGRA.TO Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
CGRA.TO Sortino Ratio Rank: 8383
Sortino Ratio Rank
CGRA.TO Omega Ratio Rank: 9696
Omega Ratio Rank
CGRA.TO Calmar Ratio Rank: 6363
Calmar Ratio Rank
CGRA.TO Martin Ratio Rank: 6464
Martin Ratio Rank
ZBAL.TO
ZBAL.TO Risk / Return Rank: 6969
Overall Rank
ZBAL.TO Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
ZBAL.TO Sortino Ratio Rank: 6969
Sortino Ratio Rank
ZBAL.TO Omega Ratio Rank: 6868
Omega Ratio Rank
ZBAL.TO Calmar Ratio Rank: 6969
Calmar Ratio Rank
ZBAL.TO Martin Ratio Rank: 7474
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.

CGRA.TO vs. ZBAL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Global Real Asset Private Pool (CGRA.TO) and BMO Balanced ETF (ZBAL.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.

CGRA.TOZBAL.TODifference
Sharpe ratioReturn per unit of total volatility
2.04
1.85

+0.19

Sortino ratioReturn per unit of downside risk
3.19
2.66

+0.52

Omega ratioGain probability vs. loss probability

1.70

1.34

+0.35

Calmar ratioReturn relative to maximum drawdown

2.68

2.94

-0.27

Martin ratioReturn relative to average drawdown

9.91

11.71

-1.80

CGRA.TO vs. ZBAL.TO - Sharpe Ratio Comparison

The current CGRA.TO Sharpe Ratio is 2.04, which is comparable to the ZBAL.TO Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of CGRA.TO and ZBAL.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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Drawdowns

CGRA.TO vs. ZBAL.TO - Drawdown Comparison

The maximum CGRA.TO drawdown since its inception was -16.03%, smaller than the maximum ZBAL.TO drawdown of -20.75%. Use the drawdown chart below to compare losses from any high point for CGRA.TO and ZBAL.TO.

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Drawdown Indicators

CGRA.TOZBAL.TODifference

Max Drawdown

Largest peak-to-trough decline

-16.03%

-20.75%

+4.72%

Max Drawdown (1Y)

Largest decline over 1 year

-6.43%

-5.81%

-0.62%

Max Drawdown (3Y)

Largest decline over 3 years

-7.89%

-9.44%

+1.55%

Max Drawdown (5Y)

Largest decline over 5 years

-16.03%

-16.32%

+0.29%

Current Drawdown

Current decline from peak

0.00%

-1.59%

+1.59%

Average Drawdown

Average peak-to-trough decline

-3.83%

-3.18%

-0.65%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.73%

1.46%

+0.27%

Volatility

CGRA.TO vs. ZBAL.TO - Volatility Comparison

The current volatility for CI Global Real Asset Private Pool (CGRA.TO) is 2.67%, while BMO Balanced ETF (ZBAL.TO) has a volatility of 4.04%. This indicates that CGRA.TO experiences smaller price fluctuations and is considered to be less risky than ZBAL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CGRA.TOZBAL.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.67%

4.04%

-1.37%

Volatility (6M)

Calculated over the trailing 6-month period

7.14%

7.53%

-0.39%

Volatility (1Y)

Calculated over the trailing 1-year period

8.43%

9.24%

-0.81%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.12%

8.88%

+3.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.68%

10.16%

+1.52%

Dividends

CGRA.TO vs. ZBAL.TO - Dividend Comparison

CGRA.TO's dividend yield for the trailing twelve months is around 3.56%, more than ZBAL.TO's 1.64% yield.

PositionTTM2025202420232022202120202019
CGRA.TO
CI Global Real Asset Private Pool		3.56%4.02%4.14%4.39%4.46%3.89%2.61%0.00%
ZBAL.TO
BMO Balanced ETF		1.64%2.02%2.18%2.48%2.72%2.35%2.53%2.38%

Frequently Asked Questions

CGRA.TO and ZBAL.TO have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: CI and BMO.

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