CIC.TO vs. FIE.TO
CIC.TO (CI Canadian Banks Covered Call Income Class ETF) and FIE.TO (iShares Canadian Financial Monthly Income ETF) are both Financials Equities funds. Both are actively managed. Over the past 10 years, CIC.TO returned 13.82%/yr vs 12.31%/yr for FIE.TO. A 0.72 correlation means they provide meaningful diversification when combined. CIC.TO charges 0.87%/yr vs 0.74%/yr for FIE.TO.
Performance
CIC.TO vs. FIE.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CIC.TO achieves a 24.90% return, which is significantly higher than FIE.TO's 14.56% return. Over the past 10 years, CIC.TO has outperformed FIE.TO with an annualized return of 13.82%, while FIE.TO has yielded a comparatively lower 12.31% annualized return.
CIC.TO
- 1D
- 0.37%
- 1M
- 6.57%
- YTD
- 24.90%
- 6M
- 24.90%
- 1Y
- 59.88%
- 3Y*
- 31.09%
- 5Y*
- 16.24%
- 10Y*
- 13.82%
FIE.TO
- 1D
- 0.09%
- 1M
- 4.86%
- YTD
- 14.56%
- 6M
- 11.23%
- 1Y
- 32.60%
- 3Y*
- 26.44%
- 5Y*
- 13.03%
- 10Y*
- 12.31%
CIC.TO vs. FIE.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 | 24.90% | 36.24% | 21.30% | 6.58% | -10.99% | 33.76% | 1.89% | 14.12% | -8.88% | 12.14% |
FIE.TO iShares Canadian Financial Monthly Income ETF | 14.56% | 24.36% | 27.62% | 12.58% | -14.35% | 27.34% | 1.33% | 18.97% | -9.12% | 12.01% |
Correlation
The correlation between CIC.TO and FIE.TO is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 2010 | 0.72 |
The correlation between CIC.TO and FIE.TO shifts across timeframes, from 0.72 (all time) to 0.86 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
CIC.TO vs. FIE.TO — Risk / Return Rank
CIC.TO
FIE.TO
CIC.TO vs. FIE.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 iShares Canadian Financial Monthly Income ETF (FIE.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 | FIE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.64 | ||
| Sortino ratioReturn per unit of downside risk | +2.27 | ||
| Omega ratioGain probability vs. loss probability | 2.02 | 1.71 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 7.31 | 4.55 | +2.76 |
| Martin ratioReturn relative to average drawdown | 34.28 | 14.80 | +19.47 |
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Drawdowns
CIC.TO vs. FIE.TO - Drawdown Comparison
The maximum CIC.TO drawdown since its inception was -38.55%, smaller than the maximum FIE.TO drawdown of -42.24%. Use the drawdown chart below to compare losses from any high point for CIC.TO and FIE.TO.
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Drawdown Indicators
| CIC.TO | FIE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.55% | -42.24% | +3.69% |
Max Drawdown (1Y)Largest decline over 1 year | -8.23% | -7.19% | -1.04% |
Max Drawdown (3Y)Largest decline over 3 years | -14.32% | -10.70% | -3.62% |
Max Drawdown (5Y)Largest decline over 5 years | -26.34% | -22.93% | -3.41% |
Max Drawdown (10Y)Largest decline over 10 years | -38.55% | -42.24% | +3.69% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -5.48% | -4.88% | -0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.75% | 2.21% | -0.46% |
Volatility
CIC.TO vs. FIE.TO - Volatility Comparison
CI Canadian Banks Covered Call Income Class ETF (CIC.TO) has a higher volatility of 3.21% compared to iShares Canadian Financial Monthly Income ETF (FIE.TO) at 2.54%. This indicates that CIC.TO's price experiences larger fluctuations and is considered to be riskier than FIE.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 | FIE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.21% | 2.54% | +0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 9.85% | 7.83% | +2.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.40% | 9.02% | +2.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.80% | 10.55% | +2.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.28% | 14.06% | +2.22% |
CIC.TO vs. FIE.TO - Expense Ratio Comparison
CIC.TO has a 0.87% expense ratio, which is higher than FIE.TO's 0.74% expense ratio.
Dividends
CIC.TO vs. FIE.TO - Dividend Comparison
CIC.TO's dividend yield for the trailing twelve months is around 4.88%, more than FIE.TO's 4.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CIC.TO CI Canadian Banks Covered Call Income Class ETF | 4.88% | 5.72% | 6.71% | 7.37% | 7.64% | 5.48% | 9.56% | 6.16% | 6.61% | 5.68% | 6.72% | 7.31% |
FIE.TO iShares Canadian Financial Monthly Income ETF | 4.34% | 4.94% | 5.83% | 6.98% | 7.31% | 5.92% | 7.10% | 6.65% | 7.38% | 6.28% | 6.59% | 7.43% |
Frequently Asked Questions
CIC.TO and FIE.TO have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FIE.TO is cheaper at 0.74% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FIE.TO is cheaper with a 0.74% expense ratio, compared with 0.87% for CIC.TO.
They also come from different issuers: CI and iShares. Their fees differ too: 0.87% for CIC.TO and 0.74% for FIE.TO.
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