CMGG.TO vs. FGEP.TO
CMGG.TO (CI Munro Global Growth Equity Fund) and FGEP.TO (Fidelity Global Equity+ Fund ETF) are both Global Equities funds. Both are actively managed. Over the past year, CMGG.TO returned 38.88% vs 33.16% for FGEP.TO. A 0.62 correlation means they provide meaningful diversification when combined. CMGG.TO charges 0.90%/yr vs 1.16%/yr for FGEP.TO.
Performance
CMGG.TO vs. FGEP.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CMGG.TO achieves a 21.24% return, which is significantly higher than FGEP.TO's 16.78% return.
CMGG.TO
- 1D
- 0.12%
- 1M
- 10.96%
- YTD
- 21.24%
- 6M
- 21.36%
- 1Y
- 38.88%
- 3Y*
- 35.34%
- 5Y*
- 20.56%
- 10Y*
- —
FGEP.TO
- 1D
- -0.40%
- 1M
- 6.04%
- YTD
- 16.78%
- 6M
- 17.33%
- 1Y
- 33.16%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CMGG.TO vs. FGEP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CMGG.TO CI Munro Global Growth Equity Fund | 21.24% | 21.00% | 18.37% |
FGEP.TO Fidelity Global Equity+ Fund ETF | 16.78% | 17.44% | 9.99% |
Correlation
The correlation between CMGG.TO and FGEP.TO is 0.64, 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 | 0.64 |
Correlation (All Time) Calculated using the full available price history since May 23, 2024 | 0.62 |
The correlation between CMGG.TO and FGEP.TO has been stable across timeframes, ranging from 0.62 to 0.64 - a consistent structural relationship.
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Return for Risk
CMGG.TO vs. FGEP.TO — Risk / Return Rank
CMGG.TO
FGEP.TO
CMGG.TO vs. FGEP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Munro Global Growth Equity Fund (CMGG.TO) and Fidelity Global Equity+ Fund ETF (FGEP.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.
| CMGG.TO | FGEP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.82 | ||
| Sortino ratioReturn per unit of downside risk | -1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.61 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 3.85 | 4.67 | -0.82 |
| Martin ratioReturn relative to average drawdown | 10.77 | 19.65 | -8.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CMGG.TO | FGEP.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.36 | 3.19 | -0.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.14 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.98 | 1.78 | -0.80 |
Drawdowns
CMGG.TO vs. FGEP.TO - Drawdown Comparison
The maximum CMGG.TO drawdown since its inception was -29.00%, which is greater than FGEP.TO's maximum drawdown of -14.78%. Use the drawdown chart below to compare losses from any high point for CMGG.TO and FGEP.TO.
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Drawdown Indicators
| CMGG.TO | FGEP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.00% | -14.78% | -14.22% |
Max Drawdown (1Y)Largest decline over 1 year | -10.15% | -7.14% | -3.01% |
Max Drawdown (3Y)Largest decline over 3 years | -22.85% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -29.00% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.66% | +0.66% |
Average DrawdownAverage peak-to-trough decline | -8.91% | -1.64% | -7.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.62% | 1.69% | +1.93% |
Volatility
CMGG.TO vs. FGEP.TO - Volatility Comparison
CI Munro Global Growth Equity Fund (CMGG.TO) has a higher volatility of 6.68% compared to Fidelity Global Equity+ Fund ETF (FGEP.TO) at 3.81%. This indicates that CMGG.TO's price experiences larger fluctuations and is considered to be riskier than FGEP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMGG.TO | FGEP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.68% | 3.81% | +2.87% |
Volatility (6M)Calculated over the trailing 6-month period | 12.94% | 8.34% | +4.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.53% | 10.47% | +6.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.22% | 12.70% | +5.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.49% | 12.70% | +5.79% |
CMGG.TO vs. FGEP.TO - Expense Ratio Comparison
CMGG.TO has a 0.90% expense ratio, which is lower than FGEP.TO's 1.16% expense ratio.
Dividends
CMGG.TO vs. FGEP.TO - Dividend Comparison
Neither CMGG.TO nor FGEP.TO has paid dividends to shareholders.
Frequently Asked Questions
CMGG.TO and FGEP.TO have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMGG.TO is cheaper at 0.90% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMGG.TO is cheaper with a 0.90% expense ratio, compared with 1.16% for FGEP.TO.
They also come from different issuers: CI Global Asset Management and Fidelity. Their fees differ too: 0.90% for CMGG.TO and 1.16% for FGEP.TO.
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