CMGG.TO vs. GRNY

Last updated Jun 4, 2026

CMGG.TO (CI Munro Global Growth Equity Fund) and GRNY (Fundstrat Granny Shots U.S. Large Cap ETF) are both exchange-traded funds - CMGG.TO is a Global Equities fund actively managed by CI Global Asset Management, while GRNY is a Large Cap Blend Equities fund actively managed by Tidal ETFs. Both are actively managed. Over the past year, CMGG.TO returned 38.88% vs 31.42% for GRNY. Their correlation of 0.82 suggests significant overlap in exposure. CMGG.TO charges 0.90%/yr vs 0.75%/yr for GRNY.

Performance

CMGG.TO vs. GRNY - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Munro Global Growth Equity Fund (CMGG.TO) and Fundstrat Granny Shots U.S. Large Cap ETF (GRNY). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CMGG.TO is traded in CAD, while GRNY is traded in USD. To make them comparable, the GRNY values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, CMGG.TO achieves a 21.24% return, which is significantly higher than GRNY's 12.56% 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*: —

GRNY

• 1D: -0.35%
• 1M: 5.37%
• YTD: 12.56%
• 6M: 9.30%
• 1Y: 31.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CMGG.TO vs. GRNY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CMGG.TO CI Munro Global Growth Equity Fund	21.24%	21.00%	3.49%
GRNY Fundstrat Granny Shots U.S. Large Cap ETF	12.56%	18.36%	2.63%

Correlation

The correlation between CMGG.TO and GRNY is 0.79, 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	0.79
Correlation (All Time) Calculated using the full available price history since Nov 8, 2024	0.82

The correlation between CMGG.TO and GRNY has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.

Return for Risk

CMGG.TO vs. GRNY — Risk / Return Rank

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

CMGG.TO

CMGG.TO Risk / Return Rank: 69
CMGG.TO Sharpe Ratio Rank: 72
CMGG.TO Sortino Ratio Rank: 68
CMGG.TO Omega Ratio Rank: 67
CMGG.TO Calmar Ratio Rank: 76
CMGG.TO Martin Ratio Rank: 60

GRNY

GRNY Risk / Return Rank: 47
GRNY Sharpe Ratio Rank: 48
GRNY Sortino Ratio Rank: 45
GRNY Omega Ratio Rank: 44
GRNY Calmar Ratio Rank: 51
GRNY Martin Ratio Rank: 47

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.

CMGG.TO vs. GRNY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Munro Global Growth Equity Fund (CMGG.TO) and Fundstrat Granny Shots U.S. Large Cap ETF (GRNY). 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	GRNY	Difference
Sharpe ratio: Return per unit of total volatility	2.36	1.85	+0.52
Sortino ratio: Return per unit of downside risk	3.14	2.47	+0.67
Omega ratio: Gain probability vs. loss probability	1.40	1.31	+0.09
Calmar ratio: Return relative to maximum drawdown	3.85	2.65	+1.20
Martin ratio: Return relative to average drawdown	10.77	7.00	+3.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMGG.TO vs. GRNY - Sharpe Ratio Comparison

The current CMGG.TO Sharpe Ratio is 2.36, which is comparable to the GRNY Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of CMGG.TO and GRNY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CMGG.TO	GRNY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	1.85	+0.52
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	0.99	-0.01

Drawdowns

CMGG.TO vs. GRNY - Drawdown Comparison

The maximum CMGG.TO drawdown since its inception was -29.00%, which is greater than GRNY's maximum drawdown of -24.80%. Use the drawdown chart below to compare losses from any high point for CMGG.TO and GRNY.

Drawdown Indicators

	CMGG.TO	GRNY	Difference
Max Drawdown Largest peak-to-trough decline	-29.00%	-24.80%	-4.20%
Max Drawdown (1Y) Largest decline over 1 year	-10.15%	-11.90%	+1.75%
Max Drawdown (3Y) Largest decline over 3 years	-22.85%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.00%	—	—
Current Drawdown Current decline from peak	0.00%	-0.35%	+0.35%
Average Drawdown Average peak-to-trough decline	-8.91%	-4.79%	-4.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.62%	4.50%	-0.88%

Volatility

CMGG.TO vs. GRNY - Volatility Comparison

CI Munro Global Growth Equity Fund (CMGG.TO) has a higher volatility of 6.68% compared to Fundstrat Granny Shots U.S. Large Cap ETF (GRNY) at 4.07%. This indicates that CMGG.TO's price experiences larger fluctuations and is considered to be riskier than GRNY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMGG.TO	GRNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.68%	4.07%	+2.61%
Volatility (6M) Calculated over the trailing 6-month period	12.94%	12.25%	+0.69%
Volatility (1Y) Calculated over the trailing 1-year period	16.53%	17.12%	-0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.22%	22.52%	-4.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.49%	22.52%	-4.03%

CMGG.TO vs. GRNY - Expense Ratio Comparison

CMGG.TO has a 0.90% expense ratio, which is higher than GRNY's 0.75% expense ratio.

Dividends

CMGG.TO vs. GRNY - Dividend Comparison

Neither CMGG.TO nor GRNY has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CMGG.TO and GRNY in my portfolio?

CMGG.TO and GRNY have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CMGG.TO or GRNY?

On fees, GRNY is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CMGG.TO or GRNY?

GRNY is cheaper with a 0.75% expense ratio, compared with 0.90% for CMGG.TO.

What is the main difference between CMGG.TO and GRNY?

CMGG.TO is categorized as Global Equities, while GRNY is Large Cap Blend Equities. They also come from different issuers: CI Global Asset Management and Tidal ETFs. Their fees differ too: 0.90% for CMGG.TO and 0.75% for GRNY.