CNAO.TO vs. CCCX.TO
CNAO.TO (CI Alternative North American Opportunities Fund) and CCCX.TO (CI Galaxy Core Multi-Crypto ETF) are both exchange-traded funds - CNAO.TO is a Long-Short fund actively managed by CI Global Asset Management, while CCCX.TO is a Cryptocurrency fund actively managed by CI Global Asset Management. Both are actively managed. At a 0.28 correlation, their price movements are largely independent. CNAO.TO charges 1.21%/yr vs 0.50%/yr for CCCX.TO.
Performance
CNAO.TO vs. CCCX.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CNAO.TO achieves a 5.63% return, which is significantly higher than CCCX.TO's -31.77% return.
CNAO.TO
- 1D
- -1.36%
- 1M
- 1.26%
- 6M
- 5.41%
- YTD
- 5.63%
- 1Y
- 12.19%
- 3Y*
- 17.49%
- 5Y*
- 11.88%
- 10Y*
- —
- ALL TIME*
- 11.92%
CCCX.TO
- 1D
- -0.60%
- 1M
- 8.53%
- 6M
- -30.24%
- YTD
- -31.77%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$484.00 | CA$315.52 | CA$5.52K | |
| CA$0.00 | CA$0.00 | CA$4.36K |
CNAO.TO vs. CCCX.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CNAO.TO CI Alternative North American Opportunities Fund | 5.63% | 4.68% |
CCCX.TO CI Galaxy Core Multi-Crypto ETF | -31.77% | -25.82% |
Correlation
The correlation between CNAO.TO and CCCX.TO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 28, 2025 | 0.28 |
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Return for Risk
CNAO.TO vs. CCCX.TO — Risk / Return Rank
CNAO.TO
CCCX.TO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CNAO.TO vs. CCCX.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Alternative North American Opportunities Fund (CNAO.TO) and CI Galaxy Core Multi-Crypto ETF (CCCX.TO). 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.
| CNAO.TO | CCCX.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.13 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.70 | — | — |
| Martin ratioReturn relative to average drawdown | 2.01 | — | — |
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Drawdowns
CNAO.TO vs. CCCX.TO - Drawdown Comparison
The maximum CNAO.TO drawdown since its inception was -27.39%, smaller than the maximum CCCX.TO drawdown of -58.93%. Use the drawdown chart below to compare losses from any high point for CNAO.TO and CCCX.TO.
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Drawdown Indicators
| CNAO.TO | CCCX.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.39% | -58.93% | +31.54% |
Max Drawdown (1Y)Largest decline over 1 year | -19.73% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -22.55% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -27.39% | — | — |
Current DrawdownCurrent decline from peak | -4.45% | -53.38% | +48.93% |
Average DrawdownAverage peak-to-trough decline | -7.02% | -36.18% | +29.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.89% | — | — |
Volatility
CNAO.TO vs. CCCX.TO - Volatility Comparison
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Volatility by Period
| CNAO.TO | CCCX.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.73% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 17.03% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 20.95% | 52.24% | -31.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.78% | 52.24% | -33.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.72% | 52.24% | -33.52% |
CNAO.TO vs. CCCX.TO - Expense Ratio Comparison
CNAO.TO has a 1.21% expense ratio, which is higher than CCCX.TO's 0.50% expense ratio.
Dividends
CNAO.TO vs. CCCX.TO - Dividend Comparison
Neither CNAO.TO nor CCCX.TO has paid dividends to shareholders.
Frequently Asked Questions
CNAO.TO and CCCX.TO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CCCX.TO is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CCCX.TO is cheaper with a 0.50% expense ratio, compared with 1.21% for CNAO.TO.
CNAO.TO is categorized as Long-Short, while CCCX.TO is Cryptocurrency. Their fees differ too: 1.21% for CNAO.TO and 0.50% for CCCX.TO.
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