CIAI.TO vs. CRED.TO

Last updated Aug 4, 2026

CIAI.TO (CI Global Artificial Intelligence ETF) and CRED.TO (CI Alternative Investment Grade Credit Fund) are both exchange-traded funds - CIAI.TO is a Artificial Intelligence fund actively managed by CI, while CRED.TO is a Investment Grade Bonds fund actively managed by CI. Both are actively managed. Over the past year, CIAI.TO returned 31.56% vs 2.65% for CRED.TO. Their 0.03 correlation means their historical movements had little consistent relationship. CIAI.TO charges 0.50%/yr vs 1.94%/yr for CRED.TO.

Performance

CIAI.TO vs. CRED.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Global Artificial Intelligence ETF (CIAI.TO) and CI Alternative Investment Grade Credit Fund (CRED.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CIAI.TO achieves a 19.72% return, which is significantly higher than CRED.TO's 0.95% return.

CIAI.TO

• 1D: 2.56%
• 1M: -4.04%
• 6M: 17.06%
• YTD: 19.72%
• 1Y: 31.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 31.70%

CRED.TO

• 1D: 0.10%
• 1M: -0.39%
• 6M: 0.65%
• YTD: 0.95%
• 1Y: 2.65%
• 3Y*: 5.33%
• 5Y*: 2.98%
• 10Y*: —
• ALL TIME*: 3.22%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CIAI.TO CI Global Artificial Intelligence ETF	CA$1.13M	CA$1.20M	CA$2.71M
CRED.TO CI Alternative Investment Grade Credit Fund	CA$22.02K	CA$36.37K	CA$30.13K

CIAI.TO vs. CRED.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CIAI.TO CI Global Artificial Intelligence ETF	19.72%	18.84%	29.92%
CRED.TO CI Alternative Investment Grade Credit Fund	0.95%	2.77%	5.72%

Correlation

The correlation between CIAI.TO and CRED.TO is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.09
Correlation (All Time) Calculated using the full available price history since May 7, 2024	0.03

Return for Risk

CIAI.TO vs. CRED.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CIAI.TO

CIAI.TO Risk / Return Rank: 38
CIAI.TO Sharpe Ratio Rank: 38
CIAI.TO Sortino Ratio Rank: 36
CIAI.TO Omega Ratio Rank: 37
CIAI.TO Calmar Ratio Rank: 40
CIAI.TO Martin Ratio Rank: 37

CRED.TO

CRED.TO Risk / Return Rank: 58
CRED.TO Sharpe Ratio Rank: 60
CRED.TO Sortino Ratio Rank: 60
CRED.TO Omega Ratio Rank: 70
CRED.TO Calmar Ratio Rank: 48
CRED.TO Martin Ratio Rank: 50

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CIAI.TO vs. CRED.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Global Artificial Intelligence ETF (CIAI.TO) and CI Alternative Investment Grade Credit Fund (CRED.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.

	CIAI.TO	CRED.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.96	1.43	-0.47
Sortino ratio: Return per unit of downside risk	1.40	2.06	-0.67
Omega ratio: Gain probability vs. loss probability	1.18	1.30	-0.12
Calmar ratio: Return relative to maximum drawdown	1.44	1.75	-0.31
Martin ratio: Return relative to average drawdown	3.79	5.85	-2.07

CIAI.TO vs. CRED.TO - Sharpe Ratio Comparison

The current CIAI.TO Sharpe Ratio is 0.96, which is lower than the CRED.TO Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of CIAI.TO and CRED.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.

Drawdowns

CIAI.TO vs. CRED.TO - Drawdown Comparison

The maximum CIAI.TO drawdown since its inception was -31.22%, which is greater than CRED.TO's maximum drawdown of -10.05%. Use the drawdown chart below to compare losses from any high point for CIAI.TO and CRED.TO.

Drawdown Indicators

	CIAI.TO	CRED.TO	Difference
Max Drawdown Largest peak-to-trough decline	-31.22%	-10.05%	-21.17%
Max Drawdown (1Y) Largest decline over 1 year	-18.93%	-1.52%	-17.41%
Max Drawdown (3Y) Largest decline over 3 years	—	-2.82%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-6.00%	—
Current Drawdown Current decline from peak	-9.81%	-0.39%	-9.42%
Average Drawdown Average peak-to-trough decline	-6.50%	-1.45%	-5.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.20%	0.45%	+6.75%

Volatility

CIAI.TO vs. CRED.TO - Volatility Comparison

CI Global Artificial Intelligence ETF (CIAI.TO) has a higher volatility of 10.77% compared to CI Alternative Investment Grade Credit Fund (CRED.TO) at 0.56%. This indicates that CIAI.TO's price experiences larger fluctuations and is considered to be riskier than CRED.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CIAI.TO	CRED.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.77%	0.56%	+10.21%
Volatility (6M) Calculated over the trailing 6-month period	23.36%	1.45%	+21.91%
Volatility (1Y) Calculated over the trailing 1-year period	28.32%	1.87%	+26.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.48%	2.69%	+26.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.48%	3.43%	+26.05%

CIAI.TO vs. CRED.TO - Expense Ratio Comparison

CIAI.TO has a 0.50% expense ratio, which is lower than CRED.TO's 1.94% expense ratio.

Dividends

CIAI.TO vs. CRED.TO - Dividend Comparison

CIAI.TO has not paid dividends to shareholders, while CRED.TO's dividend yield for the trailing twelve months is around 2.98%.

Position	TTM	2025	2024	2023	2022	2021	2020
CIAI.TO CI Global Artificial Intelligence ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CRED.TO CI Alternative Investment Grade Credit Fund	2.98%	2.96%	2.95%	3.13%	3.21%	3.01%	2.79%

Frequently Asked Questions

Can I hold both CIAI.TO and CRED.TO in my portfolio?

CIAI.TO and CRED.TO have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CIAI.TO or CRED.TO?

On fees, CIAI.TO is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CIAI.TO or CRED.TO?

CIAI.TO is cheaper with a 0.50% expense ratio, compared with 1.94% for CRED.TO.

What is the main difference between CIAI.TO and CRED.TO?

CIAI.TO is categorized as Artificial Intelligence, while CRED.TO is Investment Grade Bonds. Their fees differ too: 0.50% for CIAI.TO and 1.94% for CRED.TO.