CM vs. VOO
CM (Canadian Imperial Bank of Commerce) is a stock, while VOO (Vanguard S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, CM returned 17.69%/yr vs 15.61%/yr for VOO. A 0.58 correlation means they provide meaningful diversification when combined.
Performance
CM vs. VOO - Performance Comparison
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Returns By Period
In the year-to-date period, CM achieves a 27.79% return, which is significantly higher than VOO's 8.19% return. Over the past 10 years, CM has outperformed VOO with an annualized return of 17.69%, while VOO has yielded a comparatively lower 15.61% annualized return.
CM
- 1D
- 0.74%
- 1M
- -0.56%
- YTD
- 27.79%
- 6M
- 26.38%
- 1Y
- 70.81%
- 3Y*
- 47.02%
- 5Y*
- 20.28%
- 10Y*
- 17.69%
VOO
- 1D
- -1.42%
- 1M
- -1.34%
- YTD
- 8.19%
- 6M
- 7.24%
- 1Y
- 23.69%
- 3Y*
- 20.78%
- 5Y*
- 13.13%
- 10Y*
- 15.61%
CM vs. VOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CM Canadian Imperial Bank of Commerce | 27.79% | 49.02% | 37.83% | 27.23% | -25.71% | 42.29% | 9.25% | 19.22% | -19.75% | 26.58% |
VOO Vanguard S&P 500 ETF | 8.19% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Correlation
The correlation between CM and VOO is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | 0.58 |
The correlation between CM and VOO has been stable across timeframes, ranging from 0.51 to 0.58 - a consistent structural relationship.
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Return for Risk
CM vs. VOO — Risk / Return Rank
CM
VOO
CM vs. VOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian Imperial Bank of Commerce (CM) and Vanguard S&P 500 ETF (VOO). 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.
| CM | VOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.81 | ||
| Sortino ratioReturn per unit of downside risk | +1.97 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.35 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 6.60 | 2.67 | +3.92 |
| Martin ratioReturn relative to average drawdown | 25.80 | 11.96 | +13.84 |
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Drawdowns
CM vs. VOO - Drawdown Comparison
The maximum CM drawdown since its inception was -71.70%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for CM and VOO.
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Drawdown Indicators
| CM | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.70% | -33.99% | -37.71% |
Max Drawdown (1Y)Largest decline over 1 year | -10.79% | -8.90% | -1.89% |
Max Drawdown (3Y)Largest decline over 3 years | -19.47% | -18.69% | -0.78% |
Max Drawdown (5Y)Largest decline over 5 years | -40.61% | -24.52% | -16.09% |
Max Drawdown (10Y)Largest decline over 10 years | -47.82% | -33.99% | -13.83% |
Current DrawdownCurrent decline from peak | -0.81% | -3.14% | +2.33% |
Average DrawdownAverage peak-to-trough decline | -14.64% | -3.68% | -10.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 1.99% | +0.76% |
Volatility
CM vs. VOO - Volatility Comparison
Canadian Imperial Bank of Commerce (CM) has a higher volatility of 7.85% compared to Vanguard S&P 500 ETF (VOO) at 4.83%. This indicates that CM's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CM | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.85% | 4.83% | +3.02% |
Volatility (6M)Calculated over the trailing 6-month period | 16.03% | 9.82% | +6.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.11% | 12.46% | +6.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.42% | 16.91% | +4.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.59% | 18.02% | +4.57% |
Dividends
CM vs. VOO - Dividend Comparison
CM's dividend yield for the trailing twelve months is around 2.58%, more than VOO's 1.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CM Canadian Imperial Bank of Commerce | 2.58% | 3.17% | 4.21% | 5.88% | 7.77% | 4.08% | 5.06% | 6.47% | 5.48% | 5.28% | 5.93% | 6.71% |
VOO Vanguard S&P 500 ETF | 1.05% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Frequently Asked Questions
CM and VOO have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CM has higher volatility (7.85%) compared to VOO (4.83%). In terms of maximum drawdown, CM dropped -71.70% vs VOO's -33.99%.
CM currently has the higher Sharpe Ratio (3.73 vs 1.91), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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