CIC.TO vs. XFN.TO
CIC.TO (CI Canadian Banks Covered Call Income Class ETF) and XFN.TO (iShares S&P/TSX Capped Financials Index ETF) are both Financials Equities funds. CIC.TO is actively managed, while XFN.TO is passively managed. Over the past 10 years, CIC.TO returned 12.90%/yr vs 14.38%/yr for XFN.TO. A 0.75 correlation means they provide meaningful diversification when combined. CIC.TO charges 0.87%/yr vs 0.61%/yr for XFN.TO.
Performance
CIC.TO vs. XFN.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CIC.TO achieves a 16.07% return, which is significantly higher than XFN.TO's 12.51% return. Over the past 10 years, CIC.TO has underperformed XFN.TO with an annualized return of 12.90%, while XFN.TO has yielded a comparatively higher 14.38% annualized return.
CIC.TO
- 1D
- -0.40%
- 1M
- 4.82%
- YTD
- 16.07%
- 6M
- 20.80%
- 1Y
- 49.89%
- 3Y*
- 26.94%
- 5Y*
- 14.52%
- 10Y*
- 12.90%
XFN.TO
- 1D
- -0.55%
- 1M
- 5.10%
- YTD
- 12.51%
- 6M
- 17.66%
- 1Y
- 41.54%
- 3Y*
- 29.67%
- 5Y*
- 16.93%
- 10Y*
- 14.38%
CIC.TO vs. XFN.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 | 16.07% | 36.24% | 21.30% | 6.58% | -10.99% | 33.76% | 1.89% | 14.12% | -8.88% | 12.14% |
XFN.TO iShares S&P/TSX Capped Financials Index ETF | 12.51% | 34.40% | 29.32% | 13.09% | -9.92% | 35.57% | 0.99% | 20.66% | -9.76% | 12.54% |
Correlation
The correlation between CIC.TO and XFN.TO is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2010 | 0.75 |
The correlation between CIC.TO and XFN.TO shifts across timeframes, from 0.75 (all time) to 0.90 (5 years), reflecting how their relationship changes across market environments.
CIC.TO vs. XFN.TO - Sectors Allocation Comparison
Sectors
CIC.TO
XFN.TO
Financial Services
Basic Materials
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Communication Services
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Consumer Cyclical
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Consumer Defensive
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Energy
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Healthcare
-
-
Industrials
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-
Real Estate
-
-
Technology
-
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Utilities
-
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Financial Services
CIC.TO
XFN.TO
Basic Materials
CIC.TO
-
XFN.TO
-
Communication Services
CIC.TO
-
XFN.TO
-
Consumer Cyclical
CIC.TO
-
XFN.TO
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Consumer Defensive
CIC.TO
-
XFN.TO
-
Energy
CIC.TO
-
XFN.TO
-
Healthcare
CIC.TO
-
XFN.TO
-
Industrials
CIC.TO
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XFN.TO
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Real Estate
CIC.TO
-
XFN.TO
-
Technology
CIC.TO
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XFN.TO
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Utilities
CIC.TO
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XFN.TO
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Return for Risk
CIC.TO vs. XFN.TO — Risk / Return Rank
CIC.TO
XFN.TO
CIC.TO vs. XFN.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 S&P/TSX Capped Financials Index ETF (XFN.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.
| CIC.TO | XFN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.99 | ||
| Sortino ratioReturn per unit of downside risk | +1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.87 | 1.61 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 6.09 | 5.35 | +0.74 |
| Martin ratioReturn relative to average drawdown | 28.56 | 21.60 | +6.95 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CIC.TO | XFN.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.45 | 3.46 | +0.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.15 | 1.26 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.80 | 0.87 | -0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 0.64 | +0.06 |
Drawdowns
CIC.TO vs. XFN.TO - Drawdown Comparison
The maximum CIC.TO drawdown since its inception was -38.55%, smaller than the maximum XFN.TO drawdown of -56.55%. Use the drawdown chart below to compare losses from any high point for CIC.TO and XFN.TO.
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Drawdown Indicators
| CIC.TO | XFN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.55% | -56.55% | +18.00% |
Max Drawdown (1Y)Largest decline over 1 year | -8.23% | -7.80% | -0.43% |
Max Drawdown (3Y)Largest decline over 3 years | -14.32% | -12.37% | -1.95% |
Max Drawdown (5Y)Largest decline over 5 years | -26.34% | -21.90% | -4.44% |
Max Drawdown (10Y)Largest decline over 10 years | -38.55% | -39.93% | +1.38% |
Current DrawdownCurrent decline from peak | -1.58% | -1.39% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -5.49% | -6.60% | +1.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.75% | 1.93% | -0.18% |
Volatility
CIC.TO vs. XFN.TO - Volatility Comparison
CI Canadian Banks Covered Call Income Class ETF (CIC.TO) and iShares S&P/TSX Capped Financials Index ETF (XFN.TO) have volatilities of 4.00% and 4.19%, 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 | XFN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.00% | 4.19% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 9.95% | 10.10% | -0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.26% | 12.07% | -0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.75% | 13.47% | -0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.29% | 16.53% | -0.24% |
CIC.TO vs. XFN.TO - Expense Ratio Comparison
CIC.TO has a 0.87% expense ratio, which is higher than XFN.TO's 0.61% expense ratio.
Dividends
CIC.TO vs. XFN.TO - Dividend Comparison
CIC.TO's dividend yield for the trailing twelve months is around 5.25%, more than XFN.TO's 2.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CIC.TO CI Canadian Banks Covered Call Income Class ETF | 5.25% | 5.72% | 6.71% | 7.37% | 7.64% | 5.48% | 9.56% | 6.16% | 6.61% | 5.68% | 6.72% | 7.31% |
XFN.TO iShares S&P/TSX Capped Financials Index ETF | 2.17% | 2.39% | 3.16% | 3.60% | 3.48% | 2.67% | 3.35% | 3.00% | 3.43% | 2.73% | 2.83% | 3.17% |
Frequently Asked Questions
CIC.TO and XFN.TO have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XFN.TO is cheaper at 0.61% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XFN.TO is cheaper with a 0.61% 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 0.61% for XFN.TO.
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