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CMR.TO vs. GOVT
Performance
Return for Risk
Dividends
Drawdowns
Volatility

CMR.TO vs. GOVT

Last updated Apr 3, 2026

Compare and contrast key facts about iShares Premium Money Market ETF (CMR.TO) and iShares U.S. Treasury Bond ETF (GOVT).

CMR.TO and GOVT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CMR.TO is an actively managed fund by iShares. It was launched on Feb 19, 2008. GOVT is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. Treasury Bond Index. It was launched on Feb 14, 2012.

Performance

CMR.TO vs. GOVT - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Premium Money Market ETF (CMR.TO) and iShares U.S. Treasury Bond ETF (GOVT). The values are adjusted to include any dividend payments, if applicable.

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CMR.TO vs. GOVT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CMR.TO
iShares Premium Money Market ETF		0.61%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		1.70%-0.99%11.80%1.88%-7.22%-2.01%5.47%2.08%8.76%-4.32%
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 0.61% return, which is significantly lower than GOVT's 1.70% return. Over the past 10 years, CMR.TO has outperformed GOVT with an annualized return of 1.86%, while GOVT has yielded a comparatively lower 1.60% annualized return.

CMR.TO

1D
0.02%
1M
0.23%
YTD
0.61%
6M
1.12%
1Y
2.50%
3Y*
3.86%
5Y*
2.87%
10Y*
1.86%

GOVT

1D
0.57%
1M
0.70%
YTD
1.70%
6M
0.38%
1Y
0.99%
3Y*
3.72%
5Y*
1.89%
10Y*
1.60%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Premium Money Market ETF

iShares U.S. Treasury Bond ETF

Often compared with CMR.TO:
CMR.TO vs. ZMMK.TOCMR.TO vs. CASH.TOCMR.TO vs. CBIL.TOCMR.TO vs. XFR.TOCMR.TO vs. MNY.TOCMR.TO vs. VOOCMR.TO vs. HSAV.TO
Often compared with GOVT:
GOVT vs. VGITGOVT vs. BNDGOVT vs. TLTGOVT vs. IEFGOVT vs. SHVGOVT vs. GOVZGOVT vs. VTG

CMR.TO vs. GOVT - Expense Ratio Comparison

CMR.TO has a 0.14% expense ratio, which is lower than GOVT's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

GOVT
iShares U.S. Treasury Bond ETF
CMR.TO
iShares Premium Money Market ETF

Return for Risk

CMR.TO vs. GOVT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CMR.TO
CMR.TO Risk / Return Rank: 100100
Overall Rank
CMR.TO Sharpe Ratio Rank: 100100
Sharpe Ratio Rank
CMR.TO Sortino Ratio Rank: 100100
Sortino Ratio Rank
CMR.TO Omega Ratio Rank: 100100
Omega Ratio Rank
CMR.TO Calmar Ratio Rank: 9999
Calmar Ratio Rank
CMR.TO Martin Ratio Rank: 9999
Martin Ratio Rank
GOVT
GOVT Risk / Return Rank: 3535
Overall Rank
GOVT Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
GOVT Sortino Ratio Rank: 3737
Sortino Ratio Rank
GOVT Omega Ratio Rank: 3030
Omega Ratio Rank
GOVT Calmar Ratio Rank: 3838
Calmar Ratio Rank
GOVT Martin Ratio Rank: 3030
Martin Ratio Rank
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.

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.TOGOVTDifference

Sharpe ratio

Return per unit of total volatility

10.82

0.16

+10.66

Sortino ratio

Return per unit of downside risk

21.93

0.26

+21.67

Omega ratio

Gain probability vs. loss probability

9.42

1.03

+8.39

Calmar ratio

Return relative to maximum drawdown

26.95

0.06

+26.88

Martin ratio

Return relative to average drawdown

197.89

0.13

+197.76

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMR.TO vs. GOVT - Sharpe Ratio Comparison

The current CMR.TO Sharpe Ratio is 10.82, which is higher than the GOVT Sharpe Ratio of 0.16. The chart below compares the historical Sharpe Ratios of CMR.TO and GOVT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

CMR.TOGOVTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

10.82

0.16

+10.66

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

10.34

0.23

+10.11

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

6.88

0.19

+6.69

Sharpe Ratio (All Time)

Calculated using the full available price history

3.81

0.44

+3.37

Correlation

The correlation between CMR.TO and GOVT is 0.00, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CMR.TO vs. GOVT - Dividend Comparison

CMR.TO's dividend yield for the trailing twelve months is around 2.57%, less than GOVT's 3.52% yield.

TTM20252024202320222021202020192018201720162015
CMR.TO
iShares Premium Money Market ETF		2.57%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		3.52%3.49%3.14%2.65%1.77%0.96%2.17%1.98%1.97%1.57%1.40%1.25%

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.

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Drawdown Indicators

CMR.TOGOVTDifference

Max Drawdown

Largest peak-to-trough decline

-0.52%

-19.07%

+18.55%

Max Drawdown (1Y)

Largest decline over 1 year

-0.09%

-2.58%

+2.49%

Max Drawdown (5Y)

Largest decline over 5 years

-0.09%

-16.60%

+16.51%

Max Drawdown (10Y)

Largest decline over 10 years

-0.14%

-19.07%

+18.93%

Current Drawdown

Current decline from peak

0.00%

-6.87%

+6.87%

Average Drawdown

Average peak-to-trough decline

-0.01%

-5.23%

+5.22%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.01%

1.01%

-1.00%

Volatility

CMR.TO vs. GOVT - Volatility Comparison

The current volatility for iShares Premium Money Market ETF (CMR.TO) is 0.08%, while iShares U.S. Treasury Bond ETF (GOVT) has a volatility of 2.07%. 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.

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Volatility by Period

CMR.TOGOVTDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.08%

2.07%

-1.99%

Volatility (6M)

Calculated over the trailing 6-month period

0.18%

4.25%

-4.07%

Volatility (1Y)

Calculated over the trailing 1-year period

0.23%

6.28%

-6.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.28%

8.15%

-7.87%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

0.27%

8.38%

-8.11%