CMGG.TO vs. VOO

Last updated Jun 4, 2026

CMGG.TO (CI Munro Global Growth Equity Fund) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - CMGG.TO is a Global Equities fund actively managed by CI Global Asset Management, while VOO is a S&P 500 fund tracking the S&P 500 Index. CMGG.TO is actively managed, while VOO is passively managed. Over the past 5 years, CMGG.TO returned 20.56%/yr vs 17.22%/yr for VOO. At a 0.48 correlation, their price movements are largely independent. CMGG.TO charges 0.90%/yr vs 0.03%/yr for VOO.

Performance

CMGG.TO vs. VOO - 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 Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CMGG.TO is traded in CAD, while VOO is traded in USD. To make them comparable, the VOO 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 VOO's 12.66% 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*: —

VOO

• 1D: 0.00%
• 1M: 7.45%
• YTD: 12.66%
• 6M: 10.84%
• 1Y: 30.08%
• 3Y*: 23.99%
• 5Y*: 17.22%
• 10Y*: 16.44%

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

CMGG.TO vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CMGG.TO CI Munro Global Growth Equity Fund	21.24%	21.00%	52.95%	24.21%	-21.16%	11.08%
VOO Vanguard S&P 500 ETF	12.32%	12.42%	35.71%	23.54%	-12.34%	26.45%

Correlation

The correlation between CMGG.TO and VOO is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jan 13, 2021	0.48

Over the past year, CMGG.TO and VOO have become more correlated (0.74) than their long-term average of 0.48, meaning their price movements have been converging.

Return for Risk

CMGG.TO vs. VOO — 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

VOO

VOO Risk / Return Rank: 70
VOO Sharpe Ratio Rank: 71
VOO Sortino Ratio Rank: 70
VOO Omega Ratio Rank: 70
VOO Calmar Ratio Rank: 62
VOO Martin Ratio Rank: 75

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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Munro Global Growth Equity Fund (CMGG.TO) and Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.36	2.60	-0.23
Sortino ratio: Return per unit of downside risk	3.14	3.49	-0.35
Omega ratio: Gain probability vs. loss probability	1.40	1.50	-0.09
Calmar ratio: Return relative to maximum drawdown	3.85	3.51	+0.34
Martin ratio: Return relative to average drawdown	10.77	13.34	-2.57
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. VOO - Sharpe Ratio Comparison

The current CMGG.TO Sharpe Ratio is 2.36, which is comparable to the VOO Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of CMGG.TO and VOO, 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	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	2.60	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.14	1.16	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.01	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	1.15	-0.17

Drawdowns

CMGG.TO vs. VOO - Drawdown Comparison

The maximum CMGG.TO drawdown since its inception was -29.00%, roughly equal to the maximum VOO drawdown of -27.65%. Use the drawdown chart below to compare losses from any high point for CMGG.TO and VOO.

Drawdown Indicators

	CMGG.TO	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-29.00%	-27.65%	-1.35%
Max Drawdown (1Y) Largest decline over 1 year	-10.15%	-8.62%	-1.53%
Max Drawdown (3Y) Largest decline over 3 years	-22.85%	-18.93%	-3.92%
Max Drawdown (5Y) Largest decline over 5 years	-29.00%	-22.08%	-6.92%
Max Drawdown (10Y) Largest decline over 10 years	—	-27.65%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.91%	-3.24%	-5.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.62%	2.26%	+1.36%

Volatility

CMGG.TO vs. VOO - Volatility Comparison

CI Munro Global Growth Equity Fund (CMGG.TO) has a higher volatility of 6.68% compared to Vanguard S&P 500 ETF (VOO) at 2.60%. This indicates that CMGG.TO's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMGG.TO	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.68%	2.60%	+4.08%
Volatility (6M) Calculated over the trailing 6-month period	12.94%	8.79%	+4.15%
Volatility (1Y) Calculated over the trailing 1-year period	16.53%	11.64%	+4.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.22%	14.91%	+3.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.49%	16.28%	+2.21%

CMGG.TO vs. VOO - Expense Ratio Comparison

CMGG.TO has a 0.90% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

CMGG.TO vs. VOO - Dividend Comparison

CMGG.TO has not paid dividends to shareholders, while VOO's dividend yield for the trailing twelve months is around 1.03%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMGG.TO CI Munro Global Growth Equity Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.03%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

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

CMGG.TO and VOO have a correlation of 0.74, 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 VOO?

On fees, VOO is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CMGG.TO or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.90% for CMGG.TO.

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

CMGG.TO is categorized as Global Equities, while VOO is S&P 500. They also come from different issuers: CI Global Asset Management and Vanguard. Their fees differ too: 0.90% for CMGG.TO and 0.03% for VOO.