EIT-UN.TO vs. BMO.TO

Last updated Jun 9, 2026

EIT-UN.TO (Canoe EIT Income Fund) is Diversified Portfolio fund actively managed by Canoe, while BMO.TO (Bank of Montreal) is a stock. Over the past 10 years, EIT-UN.TO returned 15.69%/yr vs 15.44%/yr for BMO.TO. At a 0.42 correlation, their price movements are largely independent.

Performance

EIT-UN.TO vs. BMO.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Canoe EIT Income Fund (EIT-UN.TO) and Bank of Montreal (BMO.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EIT-UN.TO achieves a 13.19% return, which is significantly lower than BMO.TO's 31.03% return. Both investments have delivered pretty close results over the past 10 years, with EIT-UN.TO having a 15.69% annualized return and BMO.TO not far behind at 15.44%.

EIT-UN.TO

• 1D: 0.12%
• 1M: 1.76%
• YTD: 13.19%
• 6M: 14.28%
• 1Y: 20.10%
• 3Y*: 20.41%
• 5Y*: 16.99%
• 10Y*: 15.69%

BMO.TO

• 1D: 0.18%
• 1M: 9.74%
• YTD: 31.03%
• 6M: 33.12%
• 1Y: 60.65%
• 3Y*: 31.19%
• 5Y*: 17.46%
• 10Y*: 15.44%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EIT-UN.TO vs. BMO.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EIT-UN.TO Canoe EIT Income Fund	13.19%	11.81%	27.99%	5.94%	10.49%	49.02%	7.74%	12.45%	-3.05%	9.56%
BMO.TO Bank of Montreal	31.03%	33.33%	11.74%	12.19%	-6.19%	45.89%	1.29%	17.51%	-7.94%	7.99%

Correlation

The correlation between EIT-UN.TO and BMO.TO is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jul 10, 2006	0.42

The correlation between EIT-UN.TO and BMO.TO has been stable across timeframes, ranging from 0.42 to 0.50 - a consistent structural relationship.

Return for Risk

EIT-UN.TO vs. BMO.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EIT-UN.TO

EIT-UN.TO Risk / Return Rank: 71
EIT-UN.TO Sharpe Ratio Rank: 67
EIT-UN.TO Sortino Ratio Rank: 74
EIT-UN.TO Omega Ratio Rank: 65
EIT-UN.TO Calmar Ratio Rank: 78
EIT-UN.TO Martin Ratio Rank: 72

BMO.TO

BMO.TO Risk / Return Rank: 96
BMO.TO Sharpe Ratio Rank: 97
BMO.TO Sortino Ratio Rank: 97
BMO.TO Omega Ratio Rank: 96
BMO.TO Calmar Ratio Rank: 94
BMO.TO Martin Ratio Rank: 96

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.

EIT-UN.TO vs. BMO.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Canoe EIT Income Fund (EIT-UN.TO) and Bank of Montreal (BMO.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.

	EIT-UN.TO	BMO.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.29	3.44	-1.15
Sortino ratio: Return per unit of downside risk	3.46	4.48	-1.02
Omega ratio: Gain probability vs. loss probability	1.42	1.58	-0.16
Calmar ratio: Return relative to maximum drawdown	3.40	6.02	-2.62
Martin ratio: Return relative to average drawdown	13.03	21.85	-8.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EIT-UN.TO vs. BMO.TO - Sharpe Ratio Comparison

The current EIT-UN.TO Sharpe Ratio is 2.29, which is lower than the BMO.TO Sharpe Ratio of 3.44. The chart below compares the historical Sharpe Ratios of EIT-UN.TO and BMO.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.

Sharpe Ratios by Period

	EIT-UN.TO	BMO.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.29	3.44	-1.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.40	0.96	+0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.90	0.74	+0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.53	-0.07

Drawdowns

EIT-UN.TO vs. BMO.TO - Drawdown Comparison

The maximum EIT-UN.TO drawdown since its inception was -63.56%, roughly equal to the maximum BMO.TO drawdown of -62.39%. Use the drawdown chart below to compare losses from any high point for EIT-UN.TO and BMO.TO.

Drawdown Indicators

	EIT-UN.TO	BMO.TO	Difference
Max Drawdown Largest peak-to-trough decline	-63.56%	-62.39%	-1.17%
Max Drawdown (1Y) Largest decline over 1 year	-5.93%	-10.12%	+4.19%
Max Drawdown (3Y) Largest decline over 3 years	-9.45%	-16.57%	+7.12%
Max Drawdown (5Y) Largest decline over 5 years	-15.57%	-27.47%	+11.90%
Max Drawdown (10Y) Largest decline over 10 years	-50.36%	-45.59%	-4.77%
Current Drawdown Current decline from peak	-0.52%	0.00%	-0.52%
Average Drawdown Average peak-to-trough decline	-8.81%	-9.04%	+0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	2.79%	-1.24%

Volatility

EIT-UN.TO vs. BMO.TO - Volatility Comparison

The current volatility for Canoe EIT Income Fund (EIT-UN.TO) is 2.55%, while Bank of Montreal (BMO.TO) has a volatility of 4.85%. This indicates that EIT-UN.TO experiences smaller price fluctuations and is considered to be less risky than BMO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIT-UN.TO	BMO.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	4.85%	-2.30%
Volatility (6M) Calculated over the trailing 6-month period	7.53%	14.65%	-7.12%
Volatility (1Y) Calculated over the trailing 1-year period	8.82%	17.76%	-8.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.22%	18.35%	-6.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.53%	21.00%	-3.47%

Dividends

EIT-UN.TO vs. BMO.TO - Dividend Comparison

EIT-UN.TO's dividend yield for the trailing twelve months is around 6.95%, more than BMO.TO's 2.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BMO.TO Bank of Montreal	2.87%	3.61%	4.39%	4.42%	4.44%	3.11%	4.38%	4.03%	4.24%	3.54%	3.52%	4.15%
EIT-UN.TO Canoe EIT Income Fund	6.95%	7.64%	7.90%	9.29%	8.97%	9.08%	12.20%	11.53%	11.65%	10.16%	10.06%	10.71%

Frequently Asked Questions

Can I hold both EIT-UN.TO and BMO.TO in my portfolio?

EIT-UN.TO and BMO.TO have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.