CIC.TO vs. CSAV.TO
CIC.TO (CI Canadian Banks Covered Call Income Class ETF) and CSAV.TO (CI High Interest Savings ETF) are both exchange-traded funds - CIC.TO is a Financials Equities fund actively managed by CI, while CSAV.TO is a Money Market fund actively managed by CI. Both are actively managed. Over the past 5 years, CIC.TO returned 16.57%/yr vs 3.13%/yr for CSAV.TO. Their 0.03 correlation means their historical movements had little consistent relationship. CIC.TO charges 0.87%/yr vs 0.15%/yr for CSAV.TO.
Performance
CIC.TO vs. CSAV.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CIC.TO achieves a 26.83% return, which is significantly higher than CSAV.TO's 1.18% return.
CIC.TO
- 1D
- 0.37%
- 1M
- 1.17%
- 6M
- 27.70%
- YTD
- 26.83%
- 1Y
- 56.61%
- 3Y*
- 28.74%
- 5Y*
- 16.57%
- 10Y*
- 13.76%
- ALL TIME*
- 11.63%
CSAV.TO
- 1D
- 0.02%
- 1M
- 0.15%
- 6M
- 1.03%
- YTD
- 1.18%
- 1Y
- 2.17%
- 3Y*
- 3.44%
- 5Y*
- 3.13%
- 10Y*
- —
- ALL TIME*
- 2.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$388.70K | CA$258.13K | CA$198.22K | |
CSAV.TO CI High Interest Savings ETF | CA$1.49M | CA$1.26M | CA$1.48M |
CIC.TO vs. CSAV.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CIC.TO CI Canadian Banks Covered Call Income Class ETF | 26.83% | 35.32% | 21.30% | 6.58% | -10.99% | 33.76% | 1.89% | 4.78% |
CSAV.TO CI High Interest Savings ETF | 1.18% | 2.54% | 4.43% | 5.04% | 2.29% | 0.55% | 0.92% | 1.14% |
Correlation
The correlation between CIC.TO and CSAV.TO is 0.12, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.12 |
Correlation (3Y) Balances recent behavior with more history. | 0.05 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2019 | 0.03 |
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Return for Risk
CIC.TO vs. CSAV.TO — Risk / Return Rank
CIC.TO
CSAV.TO
CIC.TO vs. CSAV.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 High Interest Savings ETF (CSAV.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.TO | CSAV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.17 | ||
| Sortino ratioReturn per unit of downside risk | -14.05 | ||
| Omega ratioGain probability vs. loss probability | 1.81 | 4.54 | -2.72 |
| Calmar ratioReturn relative to maximum drawdown | 6.84 | 108.77 | -101.94 |
| Martin ratioReturn relative to average drawdown | 30.63 | 301.45 | -270.82 |
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Drawdowns
CIC.TO vs. CSAV.TO - Drawdown Comparison
The maximum CIC.TO drawdown since its inception was -38.55%, which is greater than CSAV.TO's maximum drawdown of -0.02%. Use the drawdown chart below to compare losses from any high point for CIC.TO and CSAV.TO.
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Drawdown Indicators
| CIC.TO | CSAV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.55% | -0.02% | -38.53% |
Max Drawdown (1Y)Largest decline over 1 year | -8.23% | -0.02% | -8.21% |
Max Drawdown (3Y)Largest decline over 3 years | -12.72% | -0.02% | -12.70% |
Max Drawdown (5Y)Largest decline over 5 years | -26.34% | -0.02% | -26.32% |
Max Drawdown (10Y)Largest decline over 10 years | -38.55% | — | — |
Current DrawdownCurrent decline from peak | -2.31% | 0.00% | -2.31% |
Average DrawdownAverage peak-to-trough decline | -5.45% | 0.00% | -5.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.83% | 0.01% | +1.82% |
Volatility
CIC.TO vs. CSAV.TO - Volatility Comparison
CI Canadian Banks Covered Call Income Class ETF (CIC.TO) has a higher volatility of 5.63% compared to CI High Interest Savings ETF (CSAV.TO) at 0.07%. This indicates that CIC.TO's price experiences larger fluctuations and is considered to be riskier than CSAV.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.TO | CSAV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.63% | 0.07% | +5.56% |
Volatility (6M)Calculated over the trailing 6-month period | 10.93% | 0.18% | +10.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.67% | 0.25% | +12.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.96% | 0.28% | +12.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.34% | 0.27% | +16.07% |
CIC.TO vs. CSAV.TO - Expense Ratio Comparison
CIC.TO has a 0.87% expense ratio, which is higher than CSAV.TO's 0.15% expense ratio.
Dividends
CIC.TO vs. CSAV.TO - Dividend Comparison
CIC.TO's dividend yield for the trailing twelve months is around 4.92%, more than CSAV.TO's 2.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CIC.TO CI Canadian Banks Covered Call Income Class ETF | 4.92% | 5.17% | 6.71% | 7.37% | 7.64% | 5.48% | 9.56% | 6.16% | 6.61% | 5.68% | 6.72% | 7.31% |
CSAV.TO CI High Interest Savings ETF | 2.16% | 2.53% | 4.40% | 4.90% | 2.15% | 0.57% | 0.89% | 1.14% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CIC.TO and CSAV.TO have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSAV.TO is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSAV.TO is cheaper with a 0.15% expense ratio, compared with 0.87% for CIC.TO.
CIC.TO is categorized as Financials Equities, while CSAV.TO is Money Market. Their fees differ too: 0.87% for CIC.TO and 0.15% for CSAV.TO.
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