CLML.TO vs. VALT.TO
CLML.TO (CI Global Climate Leaders Fund) and VALT.TO (CI Gold Bullion ETF) are both exchange-traded funds - CLML.TO is a Alternative Energy Equities fund actively managed by CI Global Asset Management, while VALT.TO is a Gold fund tracking the No Index (Physical Commodity). CLML.TO is actively managed, while VALT.TO is passively managed. Over the past 5 years, CLML.TO returned 20.73%/yr vs 16.17%/yr for VALT.TO. At a 0.12 correlation, their price movements are largely independent. CLML.TO charges 0.99%/yr vs 0.17%/yr for VALT.TO.
Performance
CLML.TO vs. VALT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CLML.TO achieves a 25.72% return, which is significantly higher than VALT.TO's -6.93% return.
CLML.TO
- 1D
- -0.97%
- 1M
- -7.84%
- 6M
- 20.44%
- YTD
- 25.72%
- 1Y
- 33.44%
- 3Y*
- 37.82%
- 5Y*
- 20.73%
- 10Y*
- —
- ALL TIME*
- 20.69%
VALT.TO
- 1D
- 0.19%
- 1M
- 1.59%
- 6M
- -19.64%
- YTD
- -6.93%
- 1Y
- 17.76%
- 3Y*
- 25.22%
- 5Y*
- 16.17%
- 10Y*
- —
- ALL TIME*
- 13.95%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$494.12K | CA$394.47K | CA$468.54K | |
VALT.TO CI Gold Bullion ETF | CA$185.75K | CA$223.40K | CA$363.49K |
CLML.TO vs. VALT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CLML.TO CI Global Climate Leaders Fund | 25.72% | 25.21% | 63.19% | 12.83% | -18.69% | 9.27% |
VALT.TO CI Gold Bullion ETF | -6.93% | 60.46% | 25.58% | 12.35% | 0.92% | -0.65% |
Correlation
The correlation between CLML.TO and VALT.TO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2021 | 0.12 |
The correlation between CLML.TO and VALT.TO shifts across timeframes, from 0.12 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CLML.TO vs. VALT.TO — Risk / Return Rank
CLML.TO
VALT.TO
CLML.TO vs. VALT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Global Climate Leaders Fund (CLML.TO) and CI Gold Bullion ETF (VALT.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.
| CLML.TO | VALT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.14 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.90 | 0.66 | +2.24 |
| Martin ratioReturn relative to average drawdown | 9.65 | 1.48 | +8.17 |
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Drawdowns
CLML.TO vs. VALT.TO - Drawdown Comparison
The maximum CLML.TO drawdown since its inception was -28.17%, roughly equal to the maximum VALT.TO drawdown of -27.07%. Use the drawdown chart below to compare losses from any high point for CLML.TO and VALT.TO.
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Drawdown Indicators
| CLML.TO | VALT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.17% | -27.07% | -1.10% |
Max Drawdown (1Y)Largest decline over 1 year | -11.58% | -27.07% | +15.49% |
Max Drawdown (3Y)Largest decline over 3 years | -25.94% | -27.07% | +1.13% |
Max Drawdown (5Y)Largest decline over 5 years | -28.17% | -27.07% | -1.10% |
Current DrawdownCurrent decline from peak | -10.72% | -25.75% | +15.03% |
Average DrawdownAverage peak-to-trough decline | -8.85% | -6.25% | -2.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.47% | 12.03% | -8.56% |
Volatility
CLML.TO vs. VALT.TO - Volatility Comparison
CI Global Climate Leaders Fund (CLML.TO) has a higher volatility of 8.33% compared to CI Gold Bullion ETF (VALT.TO) at 6.20%. This indicates that CLML.TO's price experiences larger fluctuations and is considered to be riskier than VALT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CLML.TO | VALT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.33% | 6.20% | +2.13% |
Volatility (6M)Calculated over the trailing 6-month period | 19.08% | 24.23% | -5.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.21% | 28.23% | -5.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.14% | 18.62% | +2.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.08% | 18.21% | +2.87% |
CLML.TO vs. VALT.TO - Expense Ratio Comparison
CLML.TO has a 0.99% expense ratio, which is higher than VALT.TO's 0.17% expense ratio.
Dividends
CLML.TO vs. VALT.TO - Dividend Comparison
Neither CLML.TO nor VALT.TO has paid dividends to shareholders.
Frequently Asked Questions
CLML.TO and VALT.TO have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VALT.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VALT.TO is cheaper with a 0.17% expense ratio, compared with 0.99% for CLML.TO.
CLML.TO is categorized as Alternative Energy Equities, while VALT.TO is Gold. Their fees differ too: 0.99% for CLML.TO and 0.17% for VALT.TO.
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