CINF.TO vs. ZWU.TO
CINF.TO (CI Global Infrastructure Private Pool) and ZWU.TO (BMO Covered Call Utilities ETF) are both Utilities Equities funds. Both are actively managed. Over the past 5 years, CINF.TO returned 12.72%/yr vs 6.30%/yr for ZWU.TO. At a 0.46 correlation, their price movements are largely independent.
Performance
CINF.TO vs. ZWU.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CINF.TO achieves a 17.12% return, which is significantly higher than ZWU.TO's 10.14% return.
CINF.TO
- 1D
- -0.41%
- 1M
- 1.90%
- YTD
- 17.12%
- 6M
- 17.36%
- 1Y
- 20.69%
- 3Y*
- 17.25%
- 5Y*
- 12.72%
- 10Y*
- —
ZWU.TO
- 1D
- -1.42%
- 1M
- -0.44%
- YTD
- 10.14%
- 6M
- 10.14%
- 1Y
- 14.93%
- 3Y*
- 10.92%
- 5Y*
- 6.30%
- 10Y*
- 5.78%
CINF.TO vs. ZWU.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CINF.TO CI Global Infrastructure Private Pool | 17.12% | 12.54% | 16.53% | 5.27% | 5.03% | 13.56% | 7.55% |
ZWU.TO BMO Covered Call Utilities ETF | 10.14% | 13.18% | 10.97% | -2.79% | -3.88% | 15.80% | 6.38% |
Correlation
The correlation between CINF.TO and ZWU.TO is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since May 27, 2020 | 0.46 |
The correlation between CINF.TO and ZWU.TO has been stable across timeframes, ranging from 0.45 to 0.51 - a consistent structural relationship.
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Return for Risk
CINF.TO vs. ZWU.TO — Risk / Return Rank
CINF.TO
ZWU.TO
CINF.TO vs. ZWU.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Global Infrastructure Private Pool (CINF.TO) and BMO Covered Call Utilities ETF (ZWU.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.
| CINF.TO | ZWU.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.34 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.91 | 3.08 | +0.82 |
| Martin ratioReturn relative to average drawdown | 11.58 | 8.51 | +3.07 |
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Drawdowns
CINF.TO vs. ZWU.TO - Drawdown Comparison
The maximum CINF.TO drawdown since its inception was -12.27%, smaller than the maximum ZWU.TO drawdown of -37.41%. Use the drawdown chart below to compare losses from any high point for CINF.TO and ZWU.TO.
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Drawdown Indicators
| CINF.TO | ZWU.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.27% | -37.41% | +25.14% |
Max Drawdown (1Y)Largest decline over 1 year | -5.31% | -4.86% | -0.45% |
Max Drawdown (3Y)Largest decline over 3 years | -9.62% | -12.23% | +2.61% |
Max Drawdown (5Y)Largest decline over 5 years | -12.27% | -23.36% | +11.09% |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.41% | — |
Current DrawdownCurrent decline from peak | -1.01% | -2.65% | +1.64% |
Average DrawdownAverage peak-to-trough decline | -2.06% | -5.35% | +3.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 1.76% | +0.03% |
Volatility
CINF.TO vs. ZWU.TO - Volatility Comparison
The current volatility for CI Global Infrastructure Private Pool (CINF.TO) is 2.59%, while BMO Covered Call Utilities ETF (ZWU.TO) has a volatility of 3.00%. This indicates that CINF.TO experiences smaller price fluctuations and is considered to be less risky than ZWU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CINF.TO | ZWU.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.59% | 3.00% | -0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 7.84% | 6.50% | +1.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.58% | 7.85% | +1.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.97% | 10.52% | +1.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.11% | 14.19% | -2.08% |
Dividends
CINF.TO vs. ZWU.TO - Dividend Comparison
CINF.TO's dividend yield for the trailing twelve months is around 2.42%, less than ZWU.TO's 7.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CINF.TO CI Global Infrastructure Private Pool | 2.42% | 2.80% | 3.06% | 3.45% | 3.51% | 3.56% | 2.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZWU.TO BMO Covered Call Utilities ETF | 7.14% | 7.59% | 7.96% | 8.54% | 8.35% | 7.43% | 7.94% | 6.29% | 6.84% | 6.46% | 6.77% | 7.57% |
Frequently Asked Questions
CINF.TO and ZWU.TO have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: CI and BMO.
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