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CIAI.TO vs. FXM.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

CIAI.TO vs. FXM.TO

Last updated Apr 2, 2026

Compare and contrast key facts about CI Global Artificial Intelligence ETF (CIAI.TO) and CI Morningstar Canada Value Index ETF (FXM.TO).

CIAI.TO and FXM.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CIAI.TO is an actively managed fund by CI Investments. It was launched on May 2, 2024. FXM.TO is a passively managed fund by CI Investments that tracks the performance of the Morningstar Canada Target Value Index. It was launched on Feb 13, 2012.

Performance

CIAI.TO vs. FXM.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 Morningstar Canada Value Index ETF (FXM.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)20252024
CIAI.TO
CI Global Artificial Intelligence ETF		-4.24%18.84%29.92%
FXM.TO
CI Morningstar Canada Value Index ETF		9.25%38.54%20.47%

Returns By Period

In the year-to-date period, CIAI.TO achieves a -4.24% return, which is significantly lower than FXM.TO's 9.25% return.

CIAI.TO

1D
1.35%
1M
-3.06%
YTD
-4.24%
6M
-5.88%
1Y
35.24%
3Y*
—
5Y*
—
10Y*
—

FXM.TO

1D
0.26%
1M
-4.06%
YTD
9.25%
6M
19.53%
1Y
50.82%
3Y*
26.22%
5Y*
18.51%
10Y*
14.23%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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 Artificial Intelligence ETF

CI Morningstar Canada Value Index ETF

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Often compared with FXM.TO:
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CIAI.TO vs. FXM.TO - Expense Ratio Comparison

CIAI.TO has a 0.50% expense ratio, which is lower than FXM.TO's 0.64% expense ratio.

FXM.TO
CI Morningstar Canada Value Index ETF
CIAI.TO
CI Global Artificial Intelligence ETF

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CIAI.TO
CIAI.TO Risk / Return Rank: 6262
Overall Rank
CIAI.TO Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
CIAI.TO Sortino Ratio Rank: 6464
Sortino Ratio Rank
CIAI.TO Omega Ratio Rank: 6060
Omega Ratio Rank
CIAI.TO Calmar Ratio Rank: 7171
Calmar Ratio Rank
CIAI.TO Martin Ratio Rank: 5252
Martin Ratio Rank
FXM.TO
FXM.TO Risk / Return Rank: 9797
Overall Rank
FXM.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
FXM.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
FXM.TO Omega Ratio Rank: 9898
Omega Ratio Rank
FXM.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
FXM.TO Martin Ratio Rank: 9797
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.

CIAI.TO vs. FXM.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 Morningstar Canada Value Index ETF (FXM.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.

CIAI.TOFXM.TODifference

Sharpe ratio

Return per unit of total volatility

1.15

3.42

-2.27

Sortino ratio

Return per unit of downside risk

1.68

4.07

-2.39

Omega ratio

Gain probability vs. loss probability

1.23

1.70

-0.47

Calmar ratio

Return relative to maximum drawdown

1.92

4.46

-2.54

Martin ratio

Return relative to average drawdown

5.38

20.25

-14.87

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current CIAI.TO Sharpe Ratio is 1.15, which is lower than the FXM.TO Sharpe Ratio of 3.42. The chart below compares the historical Sharpe Ratios of CIAI.TO and FXM.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

CIAI.TOFXM.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.15

3.42

-2.27

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.30

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.84

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.80

0.80

0.00

Correlation

The correlation between CIAI.TO and FXM.TO is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CIAI.TO vs. FXM.TO - Dividend Comparison

CIAI.TO has not paid dividends to shareholders, while FXM.TO's dividend yield for the trailing twelve months is around 1.93%.

TTM20252024202320222021202020192018201720162015
CIAI.TO
CI Global Artificial Intelligence ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
FXM.TO
CI Morningstar Canada Value Index ETF		1.93%1.91%2.17%2.96%2.18%2.19%2.40%2.03%2.52%1.70%1.83%2.24%

Drawdowns

CIAI.TO vs. FXM.TO - Drawdown Comparison

The maximum CIAI.TO drawdown since its inception was -31.22%, smaller than the maximum FXM.TO drawdown of -46.41%. Use the drawdown chart below to compare losses from any high point for CIAI.TO and FXM.TO.

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Drawdown Indicators

CIAI.TOFXM.TODifference

Max Drawdown

Largest peak-to-trough decline

-31.22%

-46.41%

+15.19%

Max Drawdown (1Y)

Largest decline over 1 year

-18.93%

-11.48%

-7.45%

Max Drawdown (5Y)

Largest decline over 5 years

—

-16.08%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-46.41%

—

Current Drawdown

Current decline from peak

-13.68%

-4.06%

-9.62%

Average Drawdown

Average peak-to-trough decline

-6.87%

-4.72%

-2.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.75%

2.53%

+4.22%

Volatility

CIAI.TO vs. FXM.TO - Volatility Comparison

CI Global Artificial Intelligence ETF (CIAI.TO) has a higher volatility of 9.84% compared to CI Morningstar Canada Value Index ETF (FXM.TO) at 3.98%. This indicates that CIAI.TO's price experiences larger fluctuations and is considered to be riskier than FXM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CIAI.TOFXM.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

9.84%

3.98%

+5.86%

Volatility (6M)

Calculated over the trailing 6-month period

19.32%

9.86%

+9.46%

Volatility (1Y)

Calculated over the trailing 1-year period

30.76%

14.93%

+15.83%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

28.70%

14.28%

+14.42%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

28.70%

17.05%

+11.65%