ESGB.TO vs. CFRN.TO
ESGB.TO (BMO ESG Corporate Bond Index ETF) and CFRN.TO (CIBC Active Investment Grade Floating Rate Bond ETF) are both Corporate Bonds funds. Over the past 5 years, ESGB.TO returned 1.88%/yr vs 3.43%/yr for CFRN.TO. At a 0.04 correlation, their price movements are largely independent.
Performance
ESGB.TO vs. CFRN.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ESGB.TO achieves a 1.09% return, which is significantly lower than CFRN.TO's 1.41% return.
ESGB.TO
- 1D
- 0.11%
- 1M
- -0.61%
- 6M
- 0.48%
- YTD
- 1.09%
- 1Y
- 4.21%
- 3Y*
- 5.97%
- 5Y*
- 1.88%
- 10Y*
- —
CFRN.TO
- 1D
- 0.05%
- 1M
- 0.25%
- 6M
- 1.31%
- YTD
- 1.41%
- 1Y
- 3.01%
- 3Y*
- 4.22%
- 5Y*
- 3.43%
- 10Y*
- —
ESGB.TO vs. CFRN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ESGB.TO BMO ESG Corporate Bond Index ETF | 1.09% | 4.18% | 6.92% | 7.89% | -9.31% | -2.24% | 6.85% |
CFRN.TO CIBC Active Investment Grade Floating Rate Bond ETF | 1.41% | 3.32% | 5.21% | 5.83% | 1.40% | 0.25% | 1.04% |
Correlation
The correlation between ESGB.TO and CFRN.TO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2020 | 0.04 |
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Return for Risk
ESGB.TO vs. CFRN.TO — Risk / Return Rank
ESGB.TO
CFRN.TO
ESGB.TO vs. CFRN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO ESG Corporate Bond Index ETF (ESGB.TO) and CIBC Active Investment Grade Floating Rate Bond ETF (CFRN.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.
| ESGB.TO | CFRN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.23 | ||
| Sortino ratioReturn per unit of downside risk | -2.04 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.55 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 6.68 | -4.96 |
| Martin ratioReturn relative to average drawdown | 4.89 | 31.94 | -27.05 |
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Drawdowns
ESGB.TO vs. CFRN.TO - Drawdown Comparison
The maximum ESGB.TO drawdown since its inception was -15.18%, which is greater than CFRN.TO's maximum drawdown of -1.00%. Use the drawdown chart below to compare losses from any high point for ESGB.TO and CFRN.TO.
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Drawdown Indicators
| ESGB.TO | CFRN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.18% | -1.00% | -14.18% |
Max Drawdown (1Y)Largest decline over 1 year | -2.47% | -0.45% | -2.02% |
Max Drawdown (3Y)Largest decline over 3 years | -2.54% | -0.66% | -1.88% |
Max Drawdown (5Y)Largest decline over 5 years | -13.96% | -1.00% | -12.96% |
Current DrawdownCurrent decline from peak | -1.53% | 0.00% | -1.53% |
Average DrawdownAverage peak-to-trough decline | -4.24% | -0.15% | -4.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 0.09% | +0.77% |
Volatility
ESGB.TO vs. CFRN.TO - Volatility Comparison
BMO ESG Corporate Bond Index ETF (ESGB.TO) has a higher volatility of 1.73% compared to CIBC Active Investment Grade Floating Rate Bond ETF (CFRN.TO) at 0.22%. This indicates that ESGB.TO's price experiences larger fluctuations and is considered to be riskier than CFRN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESGB.TO | CFRN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.73% | 0.22% | +1.51% |
Volatility (6M)Calculated over the trailing 6-month period | 3.13% | 0.83% | +2.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.05% | 1.33% | +2.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.40% | 2.10% | +3.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.98% | 1.78% | +4.20% |
Dividends
ESGB.TO vs. CFRN.TO - Dividend Comparison
ESGB.TO's dividend yield for the trailing twelve months is around 4.03%, more than CFRN.TO's 3.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CFRN.TO CIBC Active Investment Grade Floating Rate Bond ETF | 3.17% | 3.47% | 4.46% | 4.43% | 2.26% | 1.26% | 1.74% | 1.70% |
ESGB.TO BMO ESG Corporate Bond Index ETF | 4.03% | 3.82% | 3.52% | 3.56% | 3.39% | 2.98% | 2.83% | 0.00% |
Frequently Asked Questions
ESGB.TO and CFRN.TO have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: BMO and CIBC.
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