CMAG.TO vs. CEQT.TO
CMAG.TO (CI Munro Alternative Global Growth Fund) and CEQT.TO (CI Equity Asset Allocation ETF) are both exchange-traded funds - CMAG.TO is a Long-Short fund actively managed by CI, while CEQT.TO is a Diversified Portfolio fund actively managed by CI. Both are actively managed. Over the past 3 years, CMAG.TO returned 26.00%/yr vs 22.66%/yr for CEQT.TO. At a 0.22 correlation, their price movements are largely independent.
Performance
CMAG.TO vs. CEQT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CMAG.TO achieves a 19.65% return, which is significantly higher than CEQT.TO's 14.27% return.
CMAG.TO
- 1D
- 1.88%
- 1M
- 4.29%
- YTD
- 19.65%
- 6M
- 18.78%
- 1Y
- 25.76%
- 3Y*
- 26.00%
- 5Y*
- 13.00%
- 10Y*
- —
CEQT.TO
- 1D
- 0.43%
- 1M
- 1.75%
- YTD
- 14.27%
- 6M
- 13.93%
- 1Y
- 29.87%
- 3Y*
- 22.66%
- 5Y*
- —
- 10Y*
- —
CMAG.TO vs. CEQT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CMAG.TO CI Munro Alternative Global Growth Fund | 19.65% | 13.08% | 37.11% | 13.56% |
CEQT.TO CI Equity Asset Allocation ETF | 14.27% | 18.84% | 27.38% | 6.47% |
Correlation
The correlation between CMAG.TO and CEQT.TO is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since May 17, 2023 | 0.22 |
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Return for Risk
CMAG.TO vs. CEQT.TO — Risk / Return Rank
CMAG.TO
CEQT.TO
CMAG.TO vs. CEQT.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 (CEQT.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 | CEQT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.45 | ||
| Sortino ratioReturn per unit of downside risk | -2.53 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.88 | -0.64 |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | 4.15 | -1.91 |
| Martin ratioReturn relative to average drawdown | 6.23 | 16.41 | -10.18 |
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Drawdowns
CMAG.TO vs. CEQT.TO - Drawdown Comparison
The maximum CMAG.TO drawdown since its inception was -23.94%, which is greater than CEQT.TO's maximum drawdown of -14.02%. Use the drawdown chart below to compare losses from any high point for CMAG.TO and CEQT.TO.
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Drawdown Indicators
| CMAG.TO | CEQT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.94% | -14.02% | -9.92% |
Max Drawdown (1Y)Largest decline over 1 year | -11.54% | -7.26% | -4.28% |
Max Drawdown (3Y)Largest decline over 3 years | -18.87% | -14.02% | -4.85% |
Max Drawdown (5Y)Largest decline over 5 years | -23.94% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.44% | +0.44% |
Average DrawdownAverage peak-to-trough decline | -8.12% | -1.18% | -6.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.14% | 1.83% | +2.31% |
Volatility
CMAG.TO vs. CEQT.TO - Volatility Comparison
CI Munro Alternative Global Growth Fund (CMAG.TO) has a higher volatility of 9.23% compared to CI Equity Asset Allocation ETF (CEQT.TO) at 4.14%. This indicates that CMAG.TO's price experiences larger fluctuations and is considered to be riskier than CEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMAG.TO | CEQT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.23% | 4.14% | +5.09% |
Volatility (6M)Calculated over the trailing 6-month period | 17.19% | 9.22% | +7.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.04% | 11.02% | +9.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.02% | 13.08% | +3.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.07% | 13.08% | +3.99% |
Dividends
CMAG.TO vs. CEQT.TO - Dividend Comparison
CMAG.TO has not paid dividends to shareholders, while CEQT.TO's dividend yield for the trailing twelve months is around 1.09%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CEQT.TO CI Equity Asset Allocation ETF | 1.09% | 1.25% | 1.82% | 1.06% |
CMAG.TO CI Munro Alternative Global Growth Fund | 0.00% | 0.21% | 0.00% | 0.00% |
Frequently Asked Questions
CMAG.TO and CEQT.TO have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CMAG.TO is categorized as Long-Short, while CEQT.TO is Diversified Portfolio.
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