CMDO.TO vs. XFLI.TO
CMDO.TO (CI Alternative Diversified Opportunities Fund) and XFLI.TO (iShares Flexible Monthly Income ETF CAD) are both exchange-traded funds - CMDO.TO is a Nontraditional Bonds fund actively managed by CI Global Asset Management, while XFLI.TO is a High Yield Bonds fund actively managed by iShares. Both are actively managed. Over the past year, CMDO.TO returned 4.53% vs 7.23% for XFLI.TO. At a 0.16 correlation, their price movements are largely independent.
Performance
CMDO.TO vs. XFLI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CMDO.TO achieves a 1.93% return, which is significantly lower than XFLI.TO's 3.13% return.
CMDO.TO
- 1D
- -0.30%
- 1M
- -0.74%
- 6M
- 0.97%
- YTD
- 1.93%
- 1Y
- 4.53%
- 3Y*
- 5.51%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.44%
XFLI.TO
- 1D
- 0.10%
- 1M
- -1.53%
- 6M
- 2.95%
- YTD
- 3.13%
- 1Y
- 7.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.32%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$15.20K | CA$29.38K | CA$28.11K | |
| CA$99.87K | CA$131.75K | CA$126.08K |
CMDO.TO vs. XFLI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CMDO.TO CI Alternative Diversified Opportunities Fund | 1.93% | 7.40% | 0.22% |
XFLI.TO iShares Flexible Monthly Income ETF CAD | 3.13% | 2.07% | 6.23% |
Correlation
The correlation between CMDO.TO and XFLI.TO is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2024 | 0.16 |
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Return for Risk
CMDO.TO vs. XFLI.TO — Risk / Return Rank
CMDO.TO
XFLI.TO
CMDO.TO vs. XFLI.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Alternative Diversified Opportunities Fund (CMDO.TO) and iShares Flexible Monthly Income ETF CAD (XFLI.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.
| CMDO.TO | XFLI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.26 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.14 | 1.75 | +1.39 |
| Martin ratioReturn relative to average drawdown | 12.24 | 3.69 | +8.55 |
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Drawdowns
CMDO.TO vs. XFLI.TO - Drawdown Comparison
The maximum CMDO.TO drawdown since its inception was -6.85%, roughly equal to the maximum XFLI.TO drawdown of -6.92%. Use the drawdown chart below to compare losses from any high point for CMDO.TO and XFLI.TO.
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Drawdown Indicators
| CMDO.TO | XFLI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.85% | -6.92% | +0.07% |
Max Drawdown (1Y)Largest decline over 1 year | -1.54% | -4.15% | +2.61% |
Max Drawdown (3Y)Largest decline over 3 years | -4.41% | — | — |
Current DrawdownCurrent decline from peak | -0.79% | -2.13% | +1.34% |
Average DrawdownAverage peak-to-trough decline | -1.46% | -2.05% | +0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.39% | 1.96% | -1.57% |
Volatility
CMDO.TO vs. XFLI.TO - Volatility Comparison
The current volatility for CI Alternative Diversified Opportunities Fund (CMDO.TO) is 1.00%, while iShares Flexible Monthly Income ETF CAD (XFLI.TO) has a volatility of 1.06%. This indicates that CMDO.TO experiences smaller price fluctuations and is considered to be less risky than XFLI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMDO.TO | XFLI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 1.06% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.71% | 4.24% | -1.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.40% | 5.59% | -2.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.06% | 6.31% | -0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.06% | 6.31% | -0.25% |
Dividends
CMDO.TO vs. XFLI.TO - Dividend Comparison
CMDO.TO's dividend yield for the trailing twelve months is around 3.84%, less than XFLI.TO's 5.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CMDO.TO CI Alternative Diversified Opportunities Fund | 3.84% | 3.84% | 3.97% | 3.96% | 2.15% | 1.00% |
XFLI.TO iShares Flexible Monthly Income ETF CAD | 5.45% | 5.69% | 2.07% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CMDO.TO and XFLI.TO have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CMDO.TO is categorized as Nontraditional Bonds, while XFLI.TO is High Yield Bonds. They also come from different issuers: CI Global Asset Management and iShares.
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