CMAG.TO vs. CEQP.TO

Last updated Jul 1, 2026

CMAG.TO (CI Munro Alternative Global Growth Fund) and CEQP.TO (CI Equity+ Asset Allocation ETF) are both exchange-traded funds - CMAG.TO is a Long-Short fund actively managed by CI, while CEQP.TO is a Diversified Portfolio fund actively managed by CI. Both are actively managed. At a correlation of -0.05, they often move in opposite directions.

Performance

CMAG.TO vs. CEQP.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Munro Alternative Global Growth Fund (CMAG.TO) and CI Equity+ Asset Allocation ETF (CEQP.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CMAG.TO

• 1D: 1.88%
• 1M: 4.29%
• YTD: 19.65%
• 6M: 18.78%
• 1Y: 25.76%
• 3Y*: 26.00%
• 5Y*: 13.00%
• 10Y*: —

CEQP.TO

• 1D: 0.52%
• 1M: 0.50%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CMAG.TO vs. CEQP.TO - Yearly Performance Comparison

	2026 (YTD)
CMAG.TO CI Munro Alternative Global Growth Fund	16.97%
CEQP.TO CI Equity+ Asset Allocation ETF	6.65%

Correlation

The correlation between CMAG.TO and CEQP.TO is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 28, 2026	-0.05

Return for Risk

CMAG.TO vs. CEQP.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CMAG.TO

CMAG.TO Risk / Return Rank: 44
CMAG.TO Sharpe Ratio Rank: 41
CMAG.TO Sortino Ratio Rank: 39
CMAG.TO Omega Ratio Rank: 41
CMAG.TO Calmar Ratio Rank: 53
CMAG.TO Martin Ratio Rank: 44

CEQP.TO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

CMAG.TO vs. CEQP.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Munro Alternative Global Growth Fund (CMAG.TO) and CI Equity+ Asset Allocation ETF (CEQP.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.

	CMAG.TO	CEQP.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.29	—	—
Sortino ratio: Return per unit of downside risk	1.80	—	—
Omega ratio: Gain probability vs. loss probability	1.24	—	—
Calmar ratio: Return relative to maximum drawdown	2.24	—	—
Martin ratio: Return relative to average drawdown	6.23	—	—

Drawdowns

CMAG.TO vs. CEQP.TO - Drawdown Comparison

The maximum CMAG.TO drawdown since its inception was -23.94%, which is greater than CEQP.TO's maximum drawdown of -8.33%. Use the drawdown chart below to compare losses from any high point for CMAG.TO and CEQP.TO.

Drawdown Indicators

	CMAG.TO	CEQP.TO	Difference
Max Drawdown Largest peak-to-trough decline	-23.94%	-8.33%	-15.61%
Max Drawdown (1Y) Largest decline over 1 year	-11.54%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.87%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.94%	—	—
Current Drawdown Current decline from peak	0.00%	-1.17%	+1.17%
Average Drawdown Average peak-to-trough decline	-8.12%	-1.79%	-6.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.14%	—	—

Volatility

Volatility by Period

	CMAG.TO	CEQP.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.23%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.19%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.04%	16.82%	+3.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.02%	16.82%	+0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.07%	16.82%	+0.25%

Dividends

CMAG.TO vs. CEQP.TO - Dividend Comparison

CMAG.TO has not paid dividends to shareholders, while CEQP.TO's dividend yield for the trailing twelve months is around 0.09%.

Position	TTM	2025
CEQP.TO CI Equity+ Asset Allocation ETF	0.09%	0.00%
CMAG.TO CI Munro Alternative Global Growth Fund	0.00%	0.21%

Frequently Asked Questions

Can I hold both CMAG.TO and CEQP.TO in my portfolio?

CMAG.TO and CEQP.TO have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between CMAG.TO and CEQP.TO?

CMAG.TO is categorized as Long-Short, while CEQP.TO is Diversified Portfolio.