CVD.TO vs. SMMT
CVD.TO (iShares Convertible Bond Index ETF) is High Yield Bonds fund tracking the FTSE Canada Convertible Bond Index, while SMMT (Summit Therapeutics Inc.) is a stock. Over the past 10 years, CVD.TO returned 4.51%/yr vs 5.10%/yr for SMMT. At a 0.06 correlation, their price movements are largely independent.
Performance
CVD.TO vs. SMMT - Performance Comparison
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Different Trading Currencies
CVD.TO is traded in CAD, while SMMT is traded in USD. To make them comparable, the SMMT values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CVD.TO achieves a 3.34% return, which is significantly higher than SMMT's -17.85% return. Over the past 10 years, CVD.TO has underperformed SMMT with an annualized return of 4.51%, while SMMT has yielded a comparatively higher 5.10% annualized return.
CVD.TO
- 1D
- -0.28%
- 1M
- 0.60%
- YTD
- 3.34%
- 6M
- 0.88%
- 1Y
- 7.85%
- 3Y*
- 8.29%
- 5Y*
- 4.41%
- 10Y*
- 4.51%
SMMT
- 1D
- -4.20%
- 1M
- -20.34%
- YTD
- -17.85%
- 6M
- -23.64%
- 1Y
- -30.08%
- 3Y*
- 103.39%
- 5Y*
- 17.09%
- 10Y*
- 5.10%
CVD.TO vs. SMMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CVD.TO iShares Convertible Bond Index ETF | 3.34% | 7.09% | 12.68% | 3.64% | -4.63% | 5.33% | 3.67% | 10.28% | -2.68% | 4.06% |
SMMT Summit Therapeutics Inc. | -17.85% | -6.46% | 641.61% | -40.05% | 68.00% | -42.79% | 186.78% | 33.40% | -88.75% | 20.67% |
Correlation
The correlation between CVD.TO and SMMT is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2015 | 0.06 |
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Return for Risk
CVD.TO vs. SMMT — Risk / Return Rank
CVD.TO
SMMT
CVD.TO vs. SMMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Convertible Bond Index ETF (CVD.TO) and Summit Therapeutics Inc. (SMMT). 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.
| CVD.TO | SMMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.48 | ||
| Sortino ratioReturn per unit of downside risk | +1.63 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.99 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | -0.57 | +2.56 |
| Martin ratioReturn relative to average drawdown | 5.73 | -0.88 | +6.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CVD.TO | SMMT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.08 | -0.40 | +1.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.09 | +0.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.04 | +0.44 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.03 | +0.43 |
Drawdowns
CVD.TO vs. SMMT - Drawdown Comparison
The maximum CVD.TO drawdown since its inception was -23.51%, smaller than the maximum SMMT drawdown of -95.31%. Use the drawdown chart below to compare losses from any high point for CVD.TO and SMMT.
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Drawdown Indicators
| CVD.TO | SMMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.51% | -95.31% | +71.80% |
Max Drawdown (1Y)Largest decline over 1 year | -3.95% | -53.14% | +49.19% |
Max Drawdown (3Y)Largest decline over 3 years | -11.47% | -62.82% | +51.35% |
Max Drawdown (5Y)Largest decline over 5 years | -14.62% | -91.30% | +76.68% |
Max Drawdown (10Y)Largest decline over 10 years | -23.51% | -95.31% | +71.80% |
Current DrawdownCurrent decline from peak | -1.89% | -61.36% | +59.47% |
Average DrawdownAverage peak-to-trough decline | -2.39% | -56.13% | +53.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.37% | 34.21% | -32.84% |
Volatility
CVD.TO vs. SMMT - Volatility Comparison
The current volatility for iShares Convertible Bond Index ETF (CVD.TO) is 1.02%, while Summit Therapeutics Inc. (SMMT) has a volatility of 22.31%. This indicates that CVD.TO experiences smaller price fluctuations and is considered to be less risky than SMMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CVD.TO | SMMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 22.31% | -21.29% |
Volatility (6M)Calculated over the trailing 6-month period | 5.47% | 56.67% | -51.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.32% | 76.06% | -68.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.40% | 186.48% | -177.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.50% | 145.53% | -136.03% |
Dividends
CVD.TO vs. SMMT - Dividend Comparison
CVD.TO's dividend yield for the trailing twelve months is around 4.94%, while SMMT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVD.TO iShares Convertible Bond Index ETF | 4.94% | 4.91% | 5.14% | 5.33% | 5.05% | 4.61% | 4.48% | 4.52% | 4.97% | 4.65% | 4.51% | 4.94% |
SMMT Summit Therapeutics Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CVD.TO and SMMT have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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