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EHE.TO vs. UMI.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EHE.TO vs. UMI.TO

Last updated Jul 18, 2026
Documentation

EHE.TO (CI Europe Hedged Equity Index ETF) and UMI.TO (CI U.S. MidCap Dividend Index ETF) are both exchange-traded funds - EHE.TO is a Europe Equities fund tracking the WisdomTree Europe CAD-Hedged Equity Index, while UMI.TO is a Mid Cap Value Equities fund managed by CI. Over the past 5 years, EHE.TO returned 9.69%/yr vs 7.74%/yr for UMI.TO. At a 0.35 correlation, their price movements are largely independent.

Performance

EHE.TO vs. UMI.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Europe Hedged Equity Index ETF (EHE.TO) and CI U.S. MidCap Dividend Index ETF (UMI.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EHE.TO achieves a 7.01% return, which is significantly lower than UMI.TO's 10.11% return.

EHE.TO

1D
0.43%
1M
-0.71%
6M
3.00%
YTD
7.01%
1Y
16.75%
3Y*
12.56%
5Y*
9.69%
10Y*
9.43%

UMI.TO

1D
0.99%
1M
1.86%
6M
5.72%
YTD
10.11%
1Y
13.57%
3Y*
10.36%
5Y*
7.74%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

EHE.TO vs. UMI.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EHE.TO
CI Europe Hedged Equity Index ETF		7.01%22.91%4.19%22.26%-10.45%23.79%-5.96%24.49%-10.68%-0.70%
UMI.TO
CI U.S. MidCap Dividend Index ETF		10.11%2.81%11.84%13.17%-6.84%27.52%-8.25%21.06%-10.77%2.61%

Correlation

The correlation between EHE.TO and UMI.TO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.39

Correlation (3Y)
Calculated over the trailing 3-year period

0.36

Correlation (5Y)
Calculated over the trailing 5-year period

0.36

Correlation (All Time)
Calculated using the full available price history since Nov 30, 2017

0.35

EHE.TO vs. UMI.TO - Sectors Allocation Comparison

Sectors
EHE.TO
UMI.TO

Industrials

22.6%
18.0%

Financial Services

15.1%
22.7%

Consumer Cyclical

13.5%
11.4%

Consumer Defensive

12.4%
4.4%

Technology

12.1%
5.0%

Healthcare

8.1%
2.6%

Basic Materials

6.8%
7.0%

Communication Services

5.6%
3.9%

Energy

3.7%
7.5%

Real Estate

-

10.2%

Utilities

-

7.3%

Industrials

EHE.TO
22.6%
UMI.TO
18.0%

Financial Services

EHE.TO
15.1%
UMI.TO
22.7%

Consumer Cyclical

EHE.TO
13.5%
UMI.TO
11.4%

Consumer Defensive

EHE.TO
12.4%
UMI.TO
4.4%

Technology

EHE.TO
12.1%
UMI.TO
5.0%

Healthcare

EHE.TO
8.1%
UMI.TO
2.6%

Basic Materials

EHE.TO
6.8%
UMI.TO
7.0%

Communication Services

EHE.TO
5.6%
UMI.TO
3.9%

Energy

EHE.TO
3.7%
UMI.TO
7.5%

Real Estate

EHE.TO

-

UMI.TO
10.2%

Utilities

EHE.TO

-

UMI.TO
7.3%

Compare stocks, funds, or ETFs

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

CI Europe Hedged Equity Index ETF

CI U.S. MidCap Dividend Index ETF

Often compared with EHE.TO:
EHE.TO vs. CGRA.TOEHE.TO vs. FIG.TOEHE.TO vs. VXM-B.TOEHE.TO vs. SOLX.TOEHE.TO vs. XEH.TOEHE.TO vs. ZEQ.TOEHE.TO vs. CBCX.TO
Often compared with UMI.TO:
UMI.TO vs. CBCX.TOUMI.TO vs. CEQT.TOUMI.TO vs. CCOM.TOUMI.TO vs. CEQP.TOUMI.TO vs. NXF.TOUMI.TO vs. CINF.TOUMI.TO vs. VXM-B.TO

Return for Risk

EHE.TO vs. UMI.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EHE.TO
EHE.TO Risk / Return Rank: 3939
Overall Rank
EHE.TO Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
EHE.TO Sortino Ratio Rank: 3838
Sortino Ratio Rank
EHE.TO Omega Ratio Rank: 4040
Omega Ratio Rank
EHE.TO Calmar Ratio Rank: 3636
Calmar Ratio Rank
EHE.TO Martin Ratio Rank: 4444
Martin Ratio Rank
UMI.TO
UMI.TO Risk / Return Rank: 3636
Overall Rank
UMI.TO Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
UMI.TO Sortino Ratio Rank: 3737
Sortino Ratio Rank
UMI.TO Omega Ratio Rank: 3535
Omega Ratio Rank
UMI.TO Calmar Ratio Rank: 3737
Calmar Ratio Rank
UMI.TO Martin Ratio Rank: 3838
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.

EHE.TO vs. UMI.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Europe Hedged Equity Index ETF (EHE.TO) and CI U.S. MidCap Dividend Index ETF (UMI.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.

EHE.TOUMI.TODifference
Sharpe ratioReturn per unit of total volatility
1.05
0.97

+0.09

Sortino ratioReturn per unit of downside risk
1.59
1.53

+0.06

Omega ratioGain probability vs. loss probability

1.20

1.18

+0.02

Calmar ratioReturn relative to maximum drawdown

1.43

1.45

-0.02

Martin ratioReturn relative to average drawdown

5.41

4.48

+0.92

EHE.TO vs. UMI.TO - Sharpe Ratio Comparison

The current EHE.TO Sharpe Ratio is 1.05, which is comparable to the UMI.TO Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of EHE.TO and UMI.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

EHE.TO vs. UMI.TO - Drawdown Comparison

The maximum EHE.TO drawdown since its inception was -38.20%, smaller than the maximum UMI.TO drawdown of -48.08%. Use the drawdown chart below to compare losses from any high point for EHE.TO and UMI.TO.

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Drawdown Indicators

EHE.TOUMI.TODifference

Max Drawdown

Largest peak-to-trough decline

-38.20%

-48.08%

+9.88%

Max Drawdown (1Y)

Largest decline over 1 year

-11.85%

-9.39%

-2.46%

Max Drawdown (3Y)

Largest decline over 3 years

-16.30%

-22.03%

+5.73%

Max Drawdown (5Y)

Largest decline over 5 years

-22.91%

-22.03%

-0.88%

Max Drawdown (10Y)

Largest decline over 10 years

-38.20%

—

—

Current Drawdown

Current decline from peak

-2.13%

0.00%

-2.13%

Average Drawdown

Average peak-to-trough decline

-5.30%

-6.77%

+1.47%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.14%

3.03%

+0.11%

Volatility

EHE.TO vs. UMI.TO - Volatility Comparison

CI Europe Hedged Equity Index ETF (EHE.TO) has a higher volatility of 3.23% compared to CI U.S. MidCap Dividend Index ETF (UMI.TO) at 2.97%. This indicates that EHE.TO's price experiences larger fluctuations and is considered to be riskier than UMI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EHE.TOUMI.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.23%

2.97%

+0.26%

Volatility (6M)

Calculated over the trailing 6-month period

13.45%

9.15%

+4.30%

Volatility (1Y)

Calculated over the trailing 1-year period

16.11%

14.11%

+2.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.12%

17.13%

+0.99%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.42%

20.98%

-3.56%

Dividends

EHE.TO vs. UMI.TO - Dividend Comparison

EHE.TO's dividend yield for the trailing twelve months is around 2.17%, less than UMI.TO's 2.33% yield.

PositionTTM2025202420232022202120202019201820172016
EHE.TO
CI Europe Hedged Equity Index ETF		2.17%2.16%4.38%3.30%2.19%1.90%2.55%2.02%2.08%1.37%0.13%
UMI.TO
CI U.S. MidCap Dividend Index ETF		2.33%2.60%2.09%2.42%3.01%1.79%2.18%2.47%2.31%0.00%0.00%

Frequently Asked Questions

EHE.TO and UMI.TO have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EHE.TO is categorized as Europe Equities, while UMI.TO is Mid Cap Value Equities.

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