EIT-UN.TO vs. CM.TO

Last updated Jun 9, 2026

EIT-UN.TO (Canoe EIT Income Fund) is Diversified Portfolio fund actively managed by Canoe, while CM.TO (Canadian Imperial Bank of Commerce) is a stock. Over the past 10 years, EIT-UN.TO returned 15.69%/yr vs 20.73%/yr for CM.TO. At a 0.39 correlation, their price movements are largely independent.

Performance

EIT-UN.TO vs. CM.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 Canadian Imperial Bank of Commerce (CM.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 CM.TO's 23.94% return. Over the past 10 years, EIT-UN.TO has underperformed CM.TO with an annualized return of 15.69%, while CM.TO has yielded a comparatively higher 20.73% annualized return.

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%

CM.TO

• 1D: 0.71%
• 1M: 1.58%
• YTD: 23.94%
• 6M: 24.38%
• 1Y: 68.16%
• 3Y*: 45.63%
• 5Y*: 22.94%
• 10Y*: 20.73%

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

EIT-UN.TO vs. CM.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%
CM.TO Canadian Imperial Bank of Commerce	23.94%	42.31%	49.56%	23.83%	-20.89%	47.75%	13.88%	18.19%	-8.64%	22.50%

Correlation

The correlation between EIT-UN.TO and CM.TO is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Jul 10, 2006	0.39

The correlation between EIT-UN.TO and CM.TO shifts across timeframes, from 0.35 (1 year) to 0.45 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

EIT-UN.TO vs. CM.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

CM.TO

CM.TO Risk / Return Rank: 97
CM.TO Sharpe Ratio Rank: 98
CM.TO Sortino Ratio Rank: 97
CM.TO Omega Ratio Rank: 97
CM.TO Calmar Ratio Rank: 96
CM.TO Martin Ratio Rank: 98

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. CM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Canoe EIT Income Fund (EIT-UN.TO) and Canadian Imperial Bank of Commerce (CM.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	CM.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.29	3.92	-1.62
Sortino ratio: Return per unit of downside risk	3.46	4.79	-1.33
Omega ratio: Gain probability vs. loss probability	1.42	1.68	-0.25
Calmar ratio: Return relative to maximum drawdown	3.40	7.52	-4.12
Martin ratio: Return relative to average drawdown	13.03	27.92	-14.88
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. CM.TO - Sharpe Ratio Comparison

The current EIT-UN.TO Sharpe Ratio is 2.29, which is lower than the CM.TO Sharpe Ratio of 3.92. The chart below compares the historical Sharpe Ratios of EIT-UN.TO and CM.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	CM.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.29	3.92	-1.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.40	1.27	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.90	1.05	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.74	-0.28

Drawdowns

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

The maximum EIT-UN.TO drawdown since its inception was -63.56%, which is greater than CM.TO's maximum drawdown of -58.49%. Use the drawdown chart below to compare losses from any high point for EIT-UN.TO and CM.TO.

Drawdown Indicators

	EIT-UN.TO	CM.TO	Difference
Max Drawdown Largest peak-to-trough decline	-63.56%	-58.49%	-5.07%
Max Drawdown (1Y) Largest decline over 1 year	-5.93%	-9.11%	+3.18%
Max Drawdown (3Y) Largest decline over 3 years	-9.45%	-16.57%	+7.12%
Max Drawdown (5Y) Largest decline over 5 years	-15.57%	-35.43%	+19.86%
Max Drawdown (10Y) Largest decline over 10 years	-50.36%	-40.02%	-10.34%
Current Drawdown Current decline from peak	-0.52%	-4.86%	+4.34%
Average Drawdown Average peak-to-trough decline	-8.81%	-9.29%	+0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	2.45%	-0.90%

Volatility

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

The current volatility for Canoe EIT Income Fund (EIT-UN.TO) is 2.55%, while Canadian Imperial Bank of Commerce (CM.TO) has a volatility of 7.78%. This indicates that EIT-UN.TO experiences smaller price fluctuations and is considered to be less risky than CM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIT-UN.TO	CM.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	7.78%	-5.23%
Volatility (6M) Calculated over the trailing 6-month period	7.53%	14.82%	-7.29%
Volatility (1Y) Calculated over the trailing 1-year period	8.82%	17.53%	-8.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.22%	18.21%	-5.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.53%	19.92%	-2.39%

Dividends

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

EIT-UN.TO's dividend yield for the trailing twelve months is around 6.95%, more than CM.TO's 2.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CM.TO Canadian Imperial Bank of Commerce	2.67%	3.20%	4.04%	5.47%	7.52%	8.13%	10.74%	10.51%	10.58%	8.39%	8.84%	9.69%
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 CM.TO in my portfolio?

EIT-UN.TO and CM.TO have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.