CMR.TO vs. IAGG
CMR.TO (iShares Premium Money Market ETF) and IAGG (iShares Core International Aggregate Bond ETF) are both exchange-traded funds - CMR.TO is a Money Market fund actively managed by iShares, while IAGG is a Global Bonds fund tracking the Bloomberg Global Aggregate ex USD 10% Issuer Capped (Hedged) Index. CMR.TO is actively managed, while IAGG is passively managed. Over the past 10 years, CMR.TO returned 1.92%/yr vs 3.20%/yr for IAGG. At a correlation of -0.01, they often move in opposite directions. CMR.TO charges 0.13%/yr vs 0.07%/yr for IAGG.
Performance
CMR.TO vs. IAGG - Performance Comparison
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Different Trading Currencies
CMR.TO is traded in CAD, while IAGG is traded in USD. To make them comparable, the IAGG 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 1.11% return, which is significantly lower than IAGG's 4.94% return. Over the past 10 years, CMR.TO has underperformed IAGG with an annualized return of 1.92%, while IAGG has yielded a comparatively higher 3.20% annualized return.
CMR.TO
- 1D
- 0.00%
- 1M
- 0.18%
- YTD
- 1.11%
- 6M
- 1.17%
- 1Y
- 2.49%
- 3Y*
- 3.74%
- 5Y*
- 2.99%
- 10Y*
- 1.92%
IAGG
- 1D
- -0.09%
- 1M
- 3.64%
- YTD
- 4.94%
- 6M
- 4.53%
- 1Y
- 5.62%
- 3Y*
- 7.34%
- 5Y*
- 4.08%
- 10Y*
- 3.20%
CMR.TO vs. IAGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CMR.TO iShares Premium Money Market ETF | 1.11% | 2.78% | 4.70% | 4.70% | 1.72% | 0.00% | 0.47% | 1.63% | 1.29% | 0.63% |
IAGG iShares Core International Aggregate Bond ETF | 4.94% | -1.45% | 13.36% | 5.91% | -5.22% | -1.92% | 2.15% | 3.54% | 12.07% | -4.82% |
Correlation
The correlation between CMR.TO and IAGG is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2015 | -0.01 |
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Return for Risk
CMR.TO vs. IAGG — Risk / Return Rank
CMR.TO
IAGG
CMR.TO vs. IAGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Premium Money Market ETF (CMR.TO) and iShares Core International Aggregate Bond ETF (IAGG). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CMR.TO | IAGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +11.27 | ||
| Sortino ratioReturn per unit of downside risk | +37.47 | ||
| Omega ratioGain probability vs. loss probability | 13.32 | 1.18 | +12.14 |
| Calmar ratioReturn relative to maximum drawdown | 125.12 | 1.34 | +123.78 |
| Martin ratioReturn relative to average drawdown | 572.45 | 2.96 | +569.49 |
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Drawdowns
CMR.TO vs. IAGG - Drawdown Comparison
The maximum CMR.TO drawdown since its inception was -0.52%, smaller than the maximum IAGG drawdown of -18.38%. Use the drawdown chart below to compare losses from any high point for CMR.TO and IAGG.
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Drawdown Indicators
| CMR.TO | IAGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.52% | -18.38% | +17.86% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -4.20% | +4.18% |
Max Drawdown (3Y)Largest decline over 3 years | -0.04% | -6.59% | +6.55% |
Max Drawdown (5Y)Largest decline over 5 years | -0.04% | -11.90% | +11.86% |
Max Drawdown (10Y)Largest decline over 10 years | -0.14% | -18.38% | +18.24% |
Current DrawdownCurrent decline from peak | 0.00% | -0.09% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -0.01% | -6.45% | +6.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 1.90% | -1.90% |
Volatility
CMR.TO vs. IAGG - Volatility Comparison
The current volatility for iShares Premium Money Market ETF (CMR.TO) is 0.07%, while iShares Core International Aggregate Bond ETF (IAGG) has a volatility of 1.33%. This indicates that CMR.TO experiences smaller price fluctuations and is considered to be less risky than IAGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMR.TO | IAGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.07% | 1.33% | -1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 0.15% | 3.99% | -3.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.20% | 5.34% | -5.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.27% | 8.01% | -7.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.27% | 7.94% | -7.67% |
CMR.TO vs. IAGG - Expense Ratio Comparison
CMR.TO has a 0.13% expense ratio, which is higher than IAGG's 0.07% 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. IAGG - Dividend Comparison
CMR.TO's dividend yield for the trailing twelve months is around 2.48%, less than IAGG's 3.64% 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% | 1.63% | 0.00% | 0.47% | 1.60% | 1.33% | 0.61% | 0.43% | 0.48% |
IAGG iShares Core International Aggregate Bond ETF | 3.64% | 3.08% | 4.28% | 3.55% | 2.27% | 1.16% | 1.95% | 2.82% | 3.02% | 1.74% | 1.56% | 0.13% |
Frequently Asked Questions
CMR.TO and IAGG have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IAGG is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IAGG is cheaper with a 0.07% expense ratio, compared with 0.13% for CMR.TO.
CMR.TO is categorized as Money Market, while IAGG is Global Bonds. Their fees differ too: 0.13% for CMR.TO and 0.07% for IAGG.
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