CSAV.TO vs. CRED.TO
CSAV.TO (CI High Interest Savings ETF) and CRED.TO (CI Alternative Investment Grade Credit Fund) are both exchange-traded funds - CSAV.TO is a Money Market fund actively managed by CI, while CRED.TO is a Investment Grade Bonds fund actively managed by CI. Both are actively managed. Over the past 5 years, CSAV.TO returned 3.13%/yr vs 2.98%/yr for CRED.TO. Their -0.00 correlation means they have often moved in opposite directions in the past. CSAV.TO charges 0.15%/yr vs 1.94%/yr for CRED.TO.
Performance
CSAV.TO vs. CRED.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CSAV.TO achieves a 1.18% return, which is significantly higher than CRED.TO's 0.95% return.
CSAV.TO
- 1D
- 0.02%
- 1M
- 0.15%
- 6M
- 1.01%
- YTD
- 1.18%
- 1Y
- 2.17%
- 3Y*
- 3.44%
- 5Y*
- 3.13%
- 10Y*
- —
- ALL TIME*
- 2.53%
CRED.TO
- 1D
- 0.10%
- 1M
- -0.39%
- 6M
- 0.65%
- YTD
- 0.95%
- 1Y
- 2.65%
- 3Y*
- 5.33%
- 5Y*
- 2.98%
- 10Y*
- —
- ALL TIME*
- 3.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$22.02K | CA$36.37K | CA$30.13K | |
CSAV.TO CI High Interest Savings ETF | CA$1.49M | CA$1.26M | CA$1.48M |
CSAV.TO vs. CRED.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CSAV.TO CI High Interest Savings ETF | 1.18% | 2.54% | 4.43% | 5.04% | 2.29% | 0.55% | 0.76% |
CRED.TO CI Alternative Investment Grade Credit Fund | 0.95% | 2.77% | 9.26% | 6.00% | -3.41% | 1.48% | 4.34% |
Correlation
The correlation between CSAV.TO and CRED.TO is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.01 |
Correlation (3Y) Balances recent behavior with more history. | 0.03 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.01 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2020 | -0.00 |
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Return for Risk
CSAV.TO vs. CRED.TO — Risk / Return Rank
CSAV.TO
CRED.TO
CSAV.TO vs. CRED.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI High Interest Savings ETF (CSAV.TO) and CI Alternative Investment Grade Credit Fund (CRED.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.
| CSAV.TO | CRED.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.19 | ||
| Sortino ratioReturn per unit of downside risk | +17.65 | ||
| Omega ratioGain probability vs. loss probability | 4.54 | 1.30 | +3.24 |
| Calmar ratioReturn relative to maximum drawdown | 108.77 | 1.75 | +107.02 |
| Martin ratioReturn relative to average drawdown | 301.45 | 5.85 | +295.60 |
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Drawdowns
CSAV.TO vs. CRED.TO - Drawdown Comparison
The maximum CSAV.TO drawdown since its inception was -0.02%, smaller than the maximum CRED.TO drawdown of -10.05%. Use the drawdown chart below to compare losses from any high point for CSAV.TO and CRED.TO.
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Drawdown Indicators
| CSAV.TO | CRED.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.02% | -10.05% | +10.03% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -1.52% | +1.50% |
Max Drawdown (3Y)Largest decline over 3 years | -0.02% | -2.82% | +2.80% |
Max Drawdown (5Y)Largest decline over 5 years | -0.02% | -6.00% | +5.98% |
Current DrawdownCurrent decline from peak | 0.00% | -0.39% | +0.39% |
Average DrawdownAverage peak-to-trough decline | 0.00% | -1.45% | +1.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.45% | -0.44% |
Volatility
CSAV.TO vs. CRED.TO - Volatility Comparison
The current volatility for CI High Interest Savings ETF (CSAV.TO) is 0.07%, while CI Alternative Investment Grade Credit Fund (CRED.TO) has a volatility of 0.56%. This indicates that CSAV.TO experiences smaller price fluctuations and is considered to be less risky than CRED.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSAV.TO | CRED.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.07% | 0.56% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 0.18% | 1.45% | -1.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.25% | 1.87% | -1.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.28% | 2.69% | -2.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.27% | 3.43% | -3.16% |
CSAV.TO vs. CRED.TO - Expense Ratio Comparison
CSAV.TO has a 0.15% expense ratio, which is lower than CRED.TO's 1.94% expense ratio.
Dividends
CSAV.TO vs. CRED.TO - Dividend Comparison
CSAV.TO's dividend yield for the trailing twelve months is around 2.16%, less than CRED.TO's 2.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CRED.TO CI Alternative Investment Grade Credit Fund | 2.98% | 2.96% | 2.95% | 3.13% | 3.21% | 3.01% | 2.79% | 0.00% |
CSAV.TO CI High Interest Savings ETF | 2.16% | 2.53% | 4.40% | 4.90% | 2.15% | 0.57% | 0.89% | 1.14% |
Frequently Asked Questions
CSAV.TO and CRED.TO have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSAV.TO is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSAV.TO is cheaper with a 0.15% expense ratio, compared with 1.94% for CRED.TO.
CSAV.TO is categorized as Money Market, while CRED.TO is Investment Grade Bonds. Their fees differ too: 0.15% for CSAV.TO and 1.94% for CRED.TO.
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