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

CIC.TO vs. JAPN.TO

Last updated Aug 2, 2026
Documentation

CIC.TO (CI Canadian Banks Covered Call Income Class ETF) and JAPN.TO (CI WisdomTree Japan Equity Index ETF) are both exchange-traded funds - CIC.TO is a Financials Equities fund actively managed by CI, while JAPN.TO is a Japan Equities fund tracking the WisdomTree Japan Equity Index CAD. CIC.TO is actively managed, while JAPN.TO is passively managed. Over the past 5 years, CIC.TO returned 16.57%/yr vs 25.86%/yr for JAPN.TO. Their 0.24 correlation means their historical movements had little consistent relationship. CIC.TO charges 0.87%/yr vs 0.48%/yr for JAPN.TO.

Performance

CIC.TO vs. JAPN.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 WisdomTree Japan Equity Index ETF (JAPN.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 26.83% return, which is significantly higher than JAPN.TO's 20.60% 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%

JAPN.TO

1D
-0.52%
1M
-0.53%
6M
13.85%
YTD
20.60%
1Y
47.23%
3Y*
28.88%
5Y*
25.86%
10Y*
—
ALL TIME*
16.98%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

CIC.TO

CI Canadian Banks Covered Call Income Class ETF
CA$388.70KCA$258.13KCA$198.22K

JAPN.TO

CI WisdomTree Japan Equity Index ETF
CA$71.61KCA$96.18KCA$111.76K

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

2026 (YTD)20252024202320222021202020192018
CIC.TO
CI Canadian Banks Covered Call Income Class ETF		26.83%35.32%21.30%6.58%-10.99%33.76%1.89%14.12%-10.22%
JAPN.TO
CI WisdomTree Japan Equity Index ETF		20.60%30.67%29.25%35.51%10.82%16.05%2.20%16.56%-17.12%

Correlation

The correlation between CIC.TO and JAPN.TO is 0.39, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.39

Correlation (3Y)
Balances recent behavior with more history.

0.32

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.26

Correlation (All Time)
Calculated using the full available price history since Aug 1, 2018

0.24

The correlation between CIC.TO and JAPN.TO shifts across timeframes, from 0.24 (all time) to 0.39 (1 year), reflecting how their relationship changes across market environments.

CIC.TO vs. JAPN.TO - Sectors Allocation Comparison

Sectors
CIC.TO
JAPN.TO

Financial Services

100.0%
19.5%

Basic Materials

-

7.6%

Communication Services

-

3.5%

Consumer Cyclical

-

15.5%

Consumer Defensive

-

4.8%

Energy

-

1.5%

Healthcare

-

6.2%

Industrials

-

25.5%

Real Estate

-

-

Technology

-

15.7%

Utilities

-

0.1%

Financial Services

CIC.TO
100.0%
JAPN.TO
19.5%

Basic Materials

CIC.TO

-

JAPN.TO
7.6%

Communication Services

CIC.TO

-

JAPN.TO
3.5%

Consumer Cyclical

CIC.TO

-

JAPN.TO
15.5%

Consumer Defensive

CIC.TO

-

JAPN.TO
4.8%

Energy

CIC.TO

-

JAPN.TO
1.5%

Healthcare

CIC.TO

-

JAPN.TO
6.2%

Industrials

CIC.TO

-

JAPN.TO
25.5%

Real Estate

CIC.TO

-

JAPN.TO

-

Technology

CIC.TO

-

JAPN.TO
15.7%

Utilities

CIC.TO

-

JAPN.TO
0.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

CI Canadian Banks Covered Call Income Class ETF

CI WisdomTree Japan Equity Index ETF

Often compared with CIC.TO:
CIC.TO vs. HEB.TOCIC.TO vs. FMAX.TOCIC.TO vs. ZWB.TOCIC.TO vs. CMNY.TOCIC.TO vs. CCOM.TOCIC.TO vs. ZEB.TOCIC.TO vs. VXM-B.TO
Often compared with JAPN.TO:
JAPN.TO vs. VOOJAPN.TO vs. VGTJAPN.TO vs. YCSJAPN.TO vs. EWTJAPN.TO vs. DXJSJAPN.TO vs. DXJJAPN.TO vs. CJP.NEO

Return for Risk

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

Compare historical risk-adjusted metric ranks 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: 9797
Sortino Ratio Rank
CIC.TO Omega Ratio Rank: 9797
Omega Ratio Rank
CIC.TO Calmar Ratio Rank: 9696
Calmar Ratio Rank
CIC.TO Martin Ratio Rank: 9797
Martin Ratio Rank
JAPN.TO
JAPN.TO Risk / Return Rank: 9292
Overall Rank
JAPN.TO Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
JAPN.TO Sortino Ratio Rank: 9292
Sortino Ratio Rank
JAPN.TO Omega Ratio Rank: 9292
Omega Ratio Rank
JAPN.TO Calmar Ratio Rank: 9191
Calmar Ratio Rank
JAPN.TO Martin Ratio Rank: 9191
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CIC.TO vs. JAPN.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 WisdomTree Japan Equity Index ETF (JAPN.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.TOJAPN.TODifference
Sharpe ratioReturn per unit of total volatility
4.45
2.51

+1.93

Sortino ratioReturn per unit of downside risk
5.66
3.37

+2.29

Omega ratioGain probability vs. loss probability

1.81

1.46

+0.36

Calmar ratioReturn relative to maximum drawdown

6.84

4.10

+2.74

Martin ratioReturn relative to average drawdown

30.63

14.95

+15.68

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

The current CIC.TO Sharpe Ratio is 4.45, which is higher than the JAPN.TO Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of CIC.TO and JAPN.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. JAPN.TO - Drawdown Comparison

The maximum CIC.TO drawdown since its inception was -38.55%, which is greater than JAPN.TO's maximum drawdown of -28.88%. Use the drawdown chart below to compare losses from any high point for CIC.TO and JAPN.TO.

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Drawdown Indicators

CIC.TOJAPN.TODifference

Max Drawdown

Largest peak-to-trough decline

-38.55%

-28.88%

-9.67%

Max Drawdown (1Y)

Largest decline over 1 year

-8.23%

-11.09%

+2.86%

Max Drawdown (3Y)

Largest decline over 3 years

-12.72%

-21.67%

+8.95%

Max Drawdown (5Y)

Largest decline over 5 years

-26.34%

-21.67%

-4.67%

Max Drawdown (10Y)

Largest decline over 10 years

-38.55%

—

—

Current Drawdown

Current decline from peak

-2.31%

-2.73%

+0.42%

Average Drawdown

Average peak-to-trough decline

-5.45%

-5.93%

+0.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.83%

3.03%

-1.20%

Volatility

CIC.TO vs. JAPN.TO - Volatility Comparison

CI Canadian Banks Covered Call Income Class ETF (CIC.TO) has a higher volatility of 5.63% compared to CI WisdomTree Japan Equity Index ETF (JAPN.TO) at 5.07%. This indicates that CIC.TO's price experiences larger fluctuations and is considered to be riskier than JAPN.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.TOJAPN.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.63%

5.07%

+0.56%

Volatility (6M)

Calculated over the trailing 6-month period

10.93%

14.22%

-3.29%

Volatility (1Y)

Calculated over the trailing 1-year period

12.67%

18.07%

-5.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.96%

19.17%

-6.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.34%

19.23%

-2.89%

CIC.TO vs. JAPN.TO - Expense Ratio Comparison

CIC.TO has a 0.87% expense ratio, which is higher than JAPN.TO's 0.48% expense ratio.

Dividends

CIC.TO vs. JAPN.TO - Dividend Comparison

CIC.TO's dividend yield for the trailing twelve months is around 4.92%, more than JAPN.TO's 1.55% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
JAPN.TO
CI WisdomTree Japan Equity Index ETF		1.55%2.08%1.58%1.51%2.59%1.35%1.36%2.12%0.62%0.00%0.00%0.00%

Frequently Asked Questions

CIC.TO and JAPN.TO have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, JAPN.TO is cheaper at 0.48% per year. The better choice depends on whether you care most about return, fees, risk, or income.

JAPN.TO is cheaper with a 0.48% expense ratio, compared with 0.87% for CIC.TO.

CIC.TO is categorized as Financials Equities, while JAPN.TO is Japan Equities. Their fees differ too: 0.87% for CIC.TO and 0.48% for JAPN.TO.

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