CIC.TO vs. CXF.TO
CIC.TO (CI Canadian Banks Covered Call Income Class ETF) and CXF.TO (CI Canadian Convertible Bond ETF) are both exchange-traded funds - CIC.TO is a Financials Equities fund actively managed by CI, while CXF.TO is a Convertible Bonds fund actively managed by CI. Both are actively managed. Over the past 10 years, CIC.TO returned 13.70%/yr vs 5.96%/yr for CXF.TO. At a 0.08 correlation, their price movements are largely independent.
Performance
CIC.TO vs. CXF.TO - Performance Comparison
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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 CXF.TO's 2.19% return. Over the past 10 years, CIC.TO has outperformed CXF.TO with an annualized return of 13.70%, while CXF.TO has yielded a comparatively lower 5.96% annualized 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%
CXF.TO
- 1D
- 0.56%
- 1M
- 1.13%
- 6M
- 4.24%
- YTD
- 2.19%
- 1Y
- 8.07%
- 3Y*
- 9.06%
- 5Y*
- 5.46%
- 10Y*
- 5.96%
CIC.TO vs. CXF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 12.14% |
CXF.TO CI Canadian Convertible Bond ETF | 2.19% | 9.05% | 19.64% | 1.36% | -3.47% | 6.85% | 6.83% | 15.04% | -4.63% | 4.23% |
Correlation
The correlation between CIC.TO and CXF.TO is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jun 7, 2011 | 0.08 |
The correlation between CIC.TO and CXF.TO shifts across timeframes, from -0.06 (1 year) to 0.08 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
CIC.TO vs. CXF.TO — Risk / Return Rank
CIC.TO
CXF.TO
CIC.TO vs. CXF.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 Convertible Bond ETF (CXF.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 | CXF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.10 | ||
| Sortino ratioReturn per unit of downside risk | +5.33 | ||
| Omega ratioGain probability vs. loss probability | 1.91 | 1.14 | +0.76 |
| Calmar ratioReturn relative to maximum drawdown | 7.01 | 2.14 | +4.87 |
| Martin ratioReturn relative to average drawdown | 32.73 | 4.47 | +28.25 |
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Drawdowns
CIC.TO vs. CXF.TO - Drawdown Comparison
The maximum CIC.TO drawdown since its inception was -38.55%, which is greater than CXF.TO's maximum drawdown of -31.03%. Use the drawdown chart below to compare losses from any high point for CIC.TO and CXF.TO.
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Drawdown Indicators
| CIC.TO | CXF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.55% | -31.03% | -7.52% |
Max Drawdown (1Y)Largest decline over 1 year | -8.23% | -3.79% | -4.44% |
Max Drawdown (3Y)Largest decline over 3 years | -14.32% | -12.81% | -1.51% |
Max Drawdown (5Y)Largest decline over 5 years | -26.34% | -12.87% | -13.47% |
Max Drawdown (10Y)Largest decline over 10 years | -38.55% | -31.03% | -7.52% |
Current DrawdownCurrent decline from peak | -0.10% | -0.09% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -5.46% | -2.95% | -2.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.76% | 1.81% | -0.05% |
Volatility
CIC.TO vs. CXF.TO - Volatility Comparison
CI Canadian Banks Covered Call Income Class ETF (CIC.TO) and CI Canadian Convertible Bond ETF (CXF.TO) have volatilities of 3.75% and 3.63%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CIC.TO | CXF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.75% | 3.63% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 10.24% | 7.92% | +2.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.85% | 10.43% | +1.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.85% | 11.96% | +0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.29% | 14.30% | +1.99% |
Dividends
CIC.TO vs. CXF.TO - Dividend Comparison
CIC.TO's dividend yield for the trailing twelve months is around 4.89%, more than CXF.TO's 4.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CIC.TO CI Canadian Banks Covered Call Income Class ETF | 4.89% | 5.17% | 6.71% | 7.37% | 7.64% | 5.48% | 9.56% | 6.16% | 6.61% | 5.68% | 6.72% | 7.31% |
CXF.TO CI Canadian Convertible Bond ETF | 4.49% | 4.48% | 4.75% | 5.31% | 5.11% | 4.70% | 4.79% | 4.86% | 5.32% | 4.82% | 4.79% | 5.17% |
Frequently Asked Questions
CIC.TO and CXF.TO have a correlation of -0.06, 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 CXF.TO is Convertible Bonds.
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