CMAG.TO vs. ONEQ.TO
CMAG.TO (CI Munro Alternative Global Growth Fund) and ONEQ.TO (CI Global Core Plus Equity ETF) are both exchange-traded funds - CMAG.TO is a Long-Short fund actively managed by CI, while ONEQ.TO is a Global Equities fund actively managed by CI. Both are actively managed. Over the past 5 years, CMAG.TO returned 10.70%/yr vs 13.10%/yr for ONEQ.TO. At a 0.27 correlation, their price movements are largely independent.
Performance
CMAG.TO vs. ONEQ.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CMAG.TO achieves a 9.57% return, which is significantly lower than ONEQ.TO's 13.96% return.
CMAG.TO
- 1D
- -0.06%
- 1M
- -7.03%
- 6M
- 6.03%
- YTD
- 9.57%
- 1Y
- 13.88%
- 3Y*
- 21.54%
- 5Y*
- 10.70%
- 10Y*
- —
ONEQ.TO
- 1D
- -1.11%
- 1M
- 0.37%
- 6M
- 9.99%
- YTD
- 13.96%
- 1Y
- 25.20%
- 3Y*
- 20.30%
- 5Y*
- 13.10%
- 10Y*
- 11.86%
CMAG.TO vs. ONEQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CMAG.TO CI Munro Alternative Global Growth Fund | 9.57% | 13.08% | 37.11% | 16.07% | -19.04% | 9.21% | 34.62% |
ONEQ.TO CI Global Core Plus Equity ETF | 13.96% | 17.62% | 22.45% | 19.07% | -10.74% | 21.65% | 7.73% |
Correlation
The correlation between CMAG.TO and ONEQ.TO is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2020 | 0.27 |
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Return for Risk
CMAG.TO vs. ONEQ.TO — Risk / Return Rank
CMAG.TO
ONEQ.TO
CMAG.TO vs. ONEQ.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 Global Core Plus Equity ETF (ONEQ.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 | ONEQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.45 | ||
| Sortino ratioReturn per unit of downside risk | -2.08 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.42 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 3.80 | -2.59 |
| Martin ratioReturn relative to average drawdown | 3.20 | 16.75 | -13.55 |
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Drawdowns
CMAG.TO vs. ONEQ.TO - Drawdown Comparison
The maximum CMAG.TO drawdown since its inception was -23.94%, smaller than the maximum ONEQ.TO drawdown of -34.40%. Use the drawdown chart below to compare losses from any high point for CMAG.TO and ONEQ.TO.
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Drawdown Indicators
| CMAG.TO | ONEQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.94% | -34.40% | +10.46% |
Max Drawdown (1Y)Largest decline over 1 year | -11.54% | -6.66% | -4.88% |
Max Drawdown (3Y)Largest decline over 3 years | -18.87% | -16.08% | -2.79% |
Max Drawdown (5Y)Largest decline over 5 years | -23.94% | -17.61% | -6.33% |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.40% | — |
Current DrawdownCurrent decline from peak | -8.43% | -1.20% | -7.23% |
Average DrawdownAverage peak-to-trough decline | -8.10% | -3.69% | -4.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.35% | 1.51% | +2.84% |
Volatility
CMAG.TO vs. ONEQ.TO - Volatility Comparison
CI Munro Alternative Global Growth Fund (CMAG.TO) has a higher volatility of 8.73% compared to CI Global Core Plus Equity ETF (ONEQ.TO) at 2.83%. This indicates that CMAG.TO's price experiences larger fluctuations and is considered to be riskier than ONEQ.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 | ONEQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.73% | 2.83% | +5.90% |
Volatility (6M)Calculated over the trailing 6-month period | 18.51% | 9.93% | +8.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.21% | 12.03% | +9.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.31% | 13.29% | +4.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.26% | 13.91% | +3.35% |
Dividends
CMAG.TO vs. ONEQ.TO - Dividend Comparison
CMAG.TO has not paid dividends to shareholders, while ONEQ.TO's dividend yield for the trailing twelve months is around 1.60%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CMAG.TO CI Munro Alternative Global Growth Fund | 0.00% | 0.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ONEQ.TO CI Global Core Plus Equity ETF | 1.60% | 1.60% | 1.05% | 1.53% | 1.38% | 0.89% | 1.22% | 1.39% | 0.94% | 1.03% | 1.22% |
Frequently Asked Questions
CMAG.TO and ONEQ.TO have a correlation of 0.32, 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 ONEQ.TO is Global Equities.
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