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CIC.TO vs. CAGG.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CIC.TO vs. CAGG.TO

Last updated Jul 14, 2026
Documentation

CIC.TO (CI Canadian Banks Covered Call Income Class ETF) and CAGG.TO (CI Canadian Aggregate Bond Index ETF) are both exchange-traded funds - CIC.TO is a Financials Equities fund actively managed by CI, while CAGG.TO is a Total Bond Market fund managed by CI. Over the past 5 years, CIC.TO returned 16.56%/yr vs 0.60%/yr for CAGG.TO. At a correlation of -0.01, they often move in opposite directions.

Performance

CIC.TO vs. CAGG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Canadian Banks Covered Call Income Class ETF (CIC.TO) and CI Canadian Aggregate Bond Index ETF (CAGG.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, CIC.TO achieves a 27.57% return, which is significantly higher than CAGG.TO's 1.29% return.

CIC.TO

1D
-0.10%
1M
5.44%
6M
26.10%
YTD
27.57%
1Y
57.42%
3Y*
29.59%
5Y*
16.56%
10Y*
13.70%

CAGG.TO

1D
0.00%
1M
-0.45%
6M
0.92%
YTD
1.29%
1Y
3.81%
3Y*
4.51%
5Y*
0.60%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

CIC.TO vs. CAGG.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CIC.TO
CI Canadian Banks Covered Call Income Class ETF		27.57%35.32%21.30%6.58%-10.99%33.76%1.89%14.12%-8.88%10.51%
CAGG.TO
CI Canadian Aggregate Bond Index ETF		1.29%2.45%4.41%7.28%-11.36%-3.39%7.32%9.39%0.30%-0.53%

Correlation

The correlation between CIC.TO and CAGG.TO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.27

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

0.15

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

0.07

Correlation (All Time)
Calculated using the full available price history since Jun 27, 2017

-0.01

The correlation between CIC.TO and CAGG.TO shifts across timeframes, from -0.01 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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CI Canadian Banks Covered Call Income Class ETF

CI Canadian Aggregate Bond Index ETF

Often compared with CIC.TO:
CIC.TO vs. HEB.TOCIC.TO vs. FMAX.TOCIC.TO vs. CMNY.TOCIC.TO vs. CCOM.TOCIC.TO vs. ZEB.TOCIC.TO vs. ZWB.TOCIC.TO vs. VXM-B.TO
Often compared with CAGG.TO:
CAGG.TO vs. CDLB.TOCAGG.TO vs. HBB.TOCAGG.TO vs. FSF.TOCAGG.TO vs. CCOM.TOCAGG.TO vs. VAB.TOCAGG.TO vs. EHE.TOCAGG.TO vs. VBU.NEO

Return for Risk

CIC.TO vs. CAGG.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CIC.TO
CIC.TO Risk / Return Rank: 9797
Overall Rank
CIC.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
CIC.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
CIC.TO Omega Ratio Rank: 9898
Omega Ratio Rank
CIC.TO Calmar Ratio Rank: 9696
Calmar Ratio Rank
CIC.TO Martin Ratio Rank: 9797
Martin Ratio Rank
CAGG.TO
CAGG.TO Risk / Return Rank: 3131
Overall Rank
CAGG.TO Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
CAGG.TO Sortino Ratio Rank: 2828
Sortino Ratio Rank
CAGG.TO Omega Ratio Rank: 3030
Omega Ratio Rank
CAGG.TO Calmar Ratio Rank: 3434
Calmar Ratio Rank
CAGG.TO Martin Ratio Rank: 3030
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.

CIC.TO vs. CAGG.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Canadian Banks Covered Call Income Class ETF (CIC.TO) and CI Canadian Aggregate Bond Index ETF (CAGG.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.

CIC.TOCAGG.TODifference
Sharpe ratioReturn per unit of total volatility
4.88
0.90

+3.98

Sortino ratioReturn per unit of downside risk
6.52
1.26

+5.26

Omega ratioGain probability vs. loss probability

1.91

1.17

+0.73

Calmar ratioReturn relative to maximum drawdown

7.01

1.40

+5.61

Martin ratioReturn relative to average drawdown

32.73

3.49

+29.24

CIC.TO vs. CAGG.TO - Sharpe Ratio Comparison

The current CIC.TO Sharpe Ratio is 4.88, which is higher than the CAGG.TO Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of CIC.TO and CAGG.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

CIC.TO vs. CAGG.TO - Drawdown Comparison

The maximum CIC.TO drawdown since its inception was -38.55%, which is greater than CAGG.TO's maximum drawdown of -18.77%. Use the drawdown chart below to compare losses from any high point for CIC.TO and CAGG.TO.

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Drawdown Indicators

CIC.TOCAGG.TODifference

Max Drawdown

Largest peak-to-trough decline

-38.55%

-18.77%

-19.78%

Max Drawdown (1Y)

Largest decline over 1 year

-8.23%

-2.73%

-5.50%

Max Drawdown (3Y)

Largest decline over 3 years

-14.32%

-4.47%

-9.85%

Max Drawdown (5Y)

Largest decline over 5 years

-26.34%

-16.68%

-9.66%

Max Drawdown (10Y)

Largest decline over 10 years

-38.55%

—

—

Current Drawdown

Current decline from peak

-0.10%

-1.16%

+1.06%

Average Drawdown

Average peak-to-trough decline

-5.46%

-5.48%

+0.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.76%

1.09%

+0.67%

Volatility

CIC.TO vs. CAGG.TO - Volatility Comparison

CI Canadian Banks Covered Call Income Class ETF (CIC.TO) has a higher volatility of 3.75% compared to CI Canadian Aggregate Bond Index ETF (CAGG.TO) at 1.39%. This indicates that CIC.TO's price experiences larger fluctuations and is considered to be riskier than CAGG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CIC.TOCAGG.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.75%

1.39%

+2.36%

Volatility (6M)

Calculated over the trailing 6-month period

10.24%

3.27%

+6.97%

Volatility (1Y)

Calculated over the trailing 1-year period

11.85%

4.28%

+7.57%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.85%

6.19%

+6.66%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.29%

7.03%

+9.26%

Dividends

CIC.TO vs. CAGG.TO - Dividend Comparison

CIC.TO's dividend yield for the trailing twelve months is around 4.89%, more than CAGG.TO's 3.56% yield.

PositionTTM20252024202320222021202020192018201720162015
CAGG.TO
CI Canadian Aggregate Bond Index ETF		3.56%3.36%2.82%3.25%4.11%2.42%2.77%3.00%2.74%1.51%0.00%0.00%
CIC.TO
CI Canadian Banks Covered Call Income Class ETF		4.89%5.17%6.71%7.37%7.64%5.48%9.56%6.16%6.61%5.68%6.72%7.31%

Frequently Asked Questions

CIC.TO and CAGG.TO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CIC.TO is categorized as Financials Equities, while CAGG.TO is Total Bond Market.

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