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CLML.TO vs. GARP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CLML.TO vs. GARP

Last updated Jun 5, 2026

CLML.TO (CI Global Climate Leaders Fund) and GARP (iShares MSCI USA Quality GARP ETF) are both exchange-traded funds - CLML.TO is a fund fund, while GARP is a Large Cap Growth Equities fund tracking the MSCI USA Quality GARP Select Index. Over the past 3 years, CLML.TO returned 43.47%/yr vs 35.07%/yr for GARP. At a 0.35 correlation, their price movements are largely independent.

Performance

CLML.TO vs. GARP - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Global Climate Leaders Fund (CLML.TO) and iShares MSCI USA Quality GARP ETF (GARP). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

CLML.TO is traded in CAD, while GARP is traded in USD. To make them comparable, the GARP values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, CLML.TO achieves a 35.72% return, which is significantly higher than GARP's 22.56% return.

CLML.TO

1D
-0.60%
1M
3.68%
YTD
35.72%
6M
32.06%
1Y
58.24%
3Y*
43.47%
5Y*
—
10Y*
—

GARP

1D
-0.23%
1M
12.62%
YTD
22.56%
6M
20.81%
1Y
45.14%
3Y*
35.07%
5Y*
23.64%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

CLML.TO vs. GARP - Yearly Performance Comparison

2026 (YTD)20252024202320222021
CLML.TO
CI Global Climate Leaders Fund		35.72%25.21%63.19%12.83%-18.69%9.27%
GARP
iShares MSCI USA Quality GARP ETF		22.56%15.92%49.22%39.71%-21.53%11.71%

Correlation

The correlation between CLML.TO and GARP is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.54

Correlation (3Y)
Calculated over the trailing 3-year period

0.43

Correlation (All Time)
Calculated using the full available price history since Jul 14, 2021

0.35

The correlation between CLML.TO and GARP shifts across timeframes, from 0.35 (all time) to 0.54 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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

CI Global Climate Leaders Fund

iShares MSCI USA Quality GARP ETF

Often compared with CLML.TO:
CLML.TO vs. EBNK.TOCLML.TO vs. CMGG.TOCLML.TO vs. VOOCLML.TO vs. ARCCCLML.TO vs. TDVCLML.TO vs. OXLCCLML.TO vs. XCSR.TO
Often compared with GARP:
GARP vs. SPGPGARP vs. SPMOGARP vs. SCHGGARP vs. QUALGARP vs. VUGGARP vs. SPYGARP vs. SPHQ

Return for Risk

CLML.TO vs. GARP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CLML.TO
CLML.TO Risk / Return Rank: 8989
Overall Rank
CLML.TO Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
CLML.TO Sortino Ratio Rank: 8787
Sortino Ratio Rank
CLML.TO Omega Ratio Rank: 8282
Omega Ratio Rank
CLML.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
CLML.TO Martin Ratio Rank: 9393
Martin Ratio Rank
GARP
GARP Risk / Return Rank: 6969
Overall Rank
GARP Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
GARP Sortino Ratio Rank: 7070
Sortino Ratio Rank
GARP Omega Ratio Rank: 6868
Omega Ratio Rank
GARP Calmar Ratio Rank: 6464
Calmar Ratio Rank
GARP Martin Ratio Rank: 6969
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CLML.TO vs. GARP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Global Climate Leaders Fund (CLML.TO) and iShares MSCI USA Quality GARP ETF (GARP). 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.

CLML.TOGARPDifference
Sharpe ratioReturn per unit of total volatility
2.88
2.61

+0.26

Sortino ratioReturn per unit of downside risk
3.92
3.41

+0.51

Omega ratioGain probability vs. loss probability

1.48

1.45

+0.03

Calmar ratioReturn relative to maximum drawdown

8.02

3.79

+4.23

Martin ratioReturn relative to average drawdown

24.19

13.98

+10.20

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CLML.TO vs. GARP - Sharpe Ratio Comparison

The current CLML.TO Sharpe Ratio is 2.88, which is comparable to the GARP Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of CLML.TO and GARP, 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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Sharpe Ratios by Period

CLML.TOGARPDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.88

2.61

+0.26

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.17

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.13

1.02

+0.11

Drawdowns

CLML.TO vs. GARP - Drawdown Comparison

The maximum CLML.TO drawdown since its inception was -28.17%, smaller than the maximum GARP drawdown of -29.73%. Use the drawdown chart below to compare losses from any high point for CLML.TO and GARP.

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Drawdown Indicators

CLML.TOGARPDifference

Max Drawdown

Largest peak-to-trough decline

-28.17%

-29.73%

+1.56%

Max Drawdown (1Y)

Largest decline over 1 year

-7.30%

-11.96%

+4.66%

Max Drawdown (3Y)

Largest decline over 3 years

-25.94%

-24.32%

-1.62%

Max Drawdown (5Y)

Largest decline over 5 years

—

-29.73%

—

Current Drawdown

Current decline from peak

-0.60%

-0.56%

-0.04%

Average Drawdown

Average peak-to-trough decline

-8.95%

-6.48%

-2.47%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.42%

3.24%

-0.82%

Volatility

CLML.TO vs. GARP - Volatility Comparison

CI Global Climate Leaders Fund (CLML.TO) has a higher volatility of 8.69% compared to iShares MSCI USA Quality GARP ETF (GARP) at 4.94%. This indicates that CLML.TO's price experiences larger fluctuations and is considered to be riskier than GARP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CLML.TOGARPDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.69%

4.94%

+3.75%

Volatility (6M)

Calculated over the trailing 6-month period

16.51%

13.43%

+3.08%

Volatility (1Y)

Calculated over the trailing 1-year period

20.36%

17.35%

+3.01%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.68%

20.35%

+0.33%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.68%

22.16%

-1.48%

Dividends

CLML.TO vs. GARP - Dividend Comparison

CLML.TO has not paid dividends to shareholders, while GARP's dividend yield for the trailing twelve months is around 0.25%.

PositionTTM202520242023202220212020
CLML.TO
CI Global Climate Leaders Fund		0.00%0.00%0.00%0.00%0.00%0.00%0.00%
GARP
iShares MSCI USA Quality GARP ETF		0.25%0.31%0.38%0.75%1.85%0.67%0.75%

Frequently Asked Questions

CLML.TO and GARP have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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