CMR.TO vs. GOVT
CMR.TO (iShares Premium Money Market ETF) and GOVT (iShares U.S. Treasury Bond ETF) are both exchange-traded funds - CMR.TO is a Money Market fund actively managed by iShares, while GOVT is a Government Bonds fund tracking the ICE U.S. Treasury Core Bond Index. CMR.TO is actively managed, while GOVT is passively managed. Over the past 10 years, CMR.TO returned 1.89%/yr vs 1.60%/yr for GOVT. At a correlation of -0.00, they often move in opposite directions. CMR.TO charges 0.14%/yr vs 0.05%/yr for GOVT.
Performance
CMR.TO vs. GOVT - Performance Comparison
Loading charts...
Different Trading Currencies
CMR.TO is traded in CAD, while GOVT is traded in USD. To make them comparable, the GOVT values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CMR.TO achieves a 0.97% return, which is significantly lower than GOVT's 1.16% return. Over the past 10 years, CMR.TO has outperformed GOVT with an annualized return of 1.89%, while GOVT has yielded a comparatively lower 1.60% annualized return.
CMR.TO
- 1D
- 0.00%
- 1M
- 0.19%
- YTD
- 0.97%
- 6M
- 1.05%
- 1Y
- 2.37%
- 3Y*
- 3.73%
- 5Y*
- 2.94%
- 10Y*
- 1.89%
GOVT
- 1D
- 0.23%
- 1M
- 2.11%
- YTD
- 1.16%
- 6M
- -0.73%
- 1Y
- 5.21%
- 3Y*
- 4.03%
- 5Y*
- 2.39%
- 10Y*
- 1.60%
CMR.TO vs. GOVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CMR.TO iShares Premium Money Market ETF | 0.97% | 2.68% | 4.70% | 4.70% | 1.71% | 0.00% | 0.47% | 1.63% | 1.29% | 0.63% |
GOVT iShares U.S. Treasury Bond ETF | 1.16% | -0.99% | 11.80% | 1.88% | -7.22% | -2.01% | 5.47% | 2.08% | 8.76% | -4.32% |
Correlation
The correlation between CMR.TO and GOVT is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2012 | -0.00 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CMR.TO vs. GOVT — Risk / Return Rank
CMR.TO
GOVT
CMR.TO vs. GOVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Premium Money Market ETF (CMR.TO) and iShares U.S. Treasury Bond ETF (GOVT). 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.
| CMR.TO | GOVT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +9.64 | ||
| Sortino ratioReturn per unit of downside risk | +19.72 | ||
| Omega ratioGain probability vs. loss probability | 9.57 | 1.17 | +8.40 |
| Calmar ratioReturn relative to maximum drawdown | 25.44 | 1.11 | +24.33 |
| Martin ratioReturn relative to average drawdown | 187.33 | 2.47 | +184.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| CMR.TO | GOVT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 10.61 | 0.97 | +9.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 10.67 | 0.30 | +10.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 7.02 | 0.19 | +6.83 |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.84 | 0.43 | +3.41 |
Drawdowns
CMR.TO vs. GOVT - Drawdown Comparison
The maximum CMR.TO drawdown since its inception was -0.52%, smaller than the maximum GOVT drawdown of -23.49%. Use the drawdown chart below to compare losses from any high point for CMR.TO and GOVT.
Loading charts...
Drawdown Indicators
| CMR.TO | GOVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.52% | -23.49% | +22.97% |
Max Drawdown (1Y)Largest decline over 1 year | -0.09% | -4.74% | +4.65% |
Max Drawdown (3Y)Largest decline over 3 years | -0.09% | -6.84% | +6.75% |
Max Drawdown (5Y)Largest decline over 5 years | -0.09% | -12.31% | +12.22% |
Max Drawdown (10Y)Largest decline over 10 years | -0.14% | -23.49% | +23.35% |
Current DrawdownCurrent decline from peak | -0.02% | -9.40% | +9.38% |
Average DrawdownAverage peak-to-trough decline | -0.01% | -9.43% | +9.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 2.12% | -2.11% |
Volatility
CMR.TO vs. GOVT - Volatility Comparison
The current volatility for iShares Premium Money Market ETF (CMR.TO) is 0.05%, while iShares U.S. Treasury Bond ETF (GOVT) has a volatility of 1.22%. This indicates that CMR.TO experiences smaller price fluctuations and is considered to be less risky than GOVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CMR.TO | GOVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 1.22% | -1.17% |
Volatility (6M)Calculated over the trailing 6-month period | 0.18% | 4.17% | -3.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.22% | 5.40% | -5.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.28% | 8.10% | -7.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.27% | 8.29% | -8.02% |
CMR.TO vs. GOVT - Expense Ratio Comparison
CMR.TO has a 0.14% expense ratio, which is higher than GOVT's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CMR.TO vs. GOVT - Dividend Comparison
CMR.TO's dividend yield for the trailing twelve months is around 2.48%, less than GOVT's 3.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMR.TO iShares Premium Money Market ETF | 2.48% | 2.81% | 4.56% | 4.64% | 1.62% | 0.00% | 0.47% | 1.60% | 1.33% | 0.61% | 0.43% | 0.48% |
GOVT iShares U.S. Treasury Bond ETF | 3.59% | 3.49% | 3.14% | 2.65% | 1.77% | 0.96% | 2.17% | 1.98% | 1.97% | 1.57% | 1.40% | 1.25% |
Frequently Asked Questions
CMR.TO and GOVT have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GOVT is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GOVT is cheaper with a 0.05% expense ratio, compared with 0.14% for CMR.TO.
CMR.TO is categorized as Money Market, while GOVT is Government Bonds. Their fees differ too: 0.14% for CMR.TO and 0.05% for GOVT.
Find the right allocation for CMR.TO and GOVT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer