FGEP.TO vs. CMGG.TO
FGEP.TO (Fidelity Global Equity+ Fund ETF) and CMGG.TO (CI Munro Global Growth Equity Fund) are both Global Equities funds. Both are actively managed. Over the past year, FGEP.TO returned 33.16% vs 38.88% for CMGG.TO. A 0.62 correlation means they provide meaningful diversification when combined. FGEP.TO charges 1.16%/yr vs 0.90%/yr for CMGG.TO.
Performance
FGEP.TO vs. CMGG.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FGEP.TO achieves a 16.78% return, which is significantly lower than CMGG.TO's 21.24% return.
FGEP.TO
- 1D
- -0.40%
- 1M
- 6.04%
- YTD
- 16.78%
- 6M
- 17.33%
- 1Y
- 33.16%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CMGG.TO
- 1D
- 0.12%
- 1M
- 10.96%
- YTD
- 21.24%
- 6M
- 21.36%
- 1Y
- 38.88%
- 3Y*
- 35.34%
- 5Y*
- 20.56%
- 10Y*
- —
FGEP.TO vs. CMGG.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FGEP.TO Fidelity Global Equity+ Fund ETF | 16.78% | 17.44% | 9.99% |
CMGG.TO CI Munro Global Growth Equity Fund | 21.24% | 21.00% | 18.37% |
Correlation
The correlation between FGEP.TO and CMGG.TO is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since May 23, 2024 | 0.62 |
The correlation between FGEP.TO and CMGG.TO has been stable across timeframes, ranging from 0.62 to 0.64 - a consistent structural relationship.
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Return for Risk
FGEP.TO vs. CMGG.TO — Risk / Return Rank
FGEP.TO
CMGG.TO
FGEP.TO vs. CMGG.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Global Equity+ Fund ETF (FGEP.TO) and CI Munro Global Growth Equity Fund (CMGG.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.
| FGEP.TO | CMGG.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.40 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 4.67 | 3.85 | +0.82 |
| Martin ratioReturn relative to average drawdown | 19.65 | 10.77 | +8.87 |
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
| FGEP.TO | CMGG.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.19 | 2.36 | +0.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.14 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.78 | 0.98 | +0.80 |
Drawdowns
FGEP.TO vs. CMGG.TO - Drawdown Comparison
The maximum FGEP.TO drawdown since its inception was -14.78%, smaller than the maximum CMGG.TO drawdown of -29.00%. Use the drawdown chart below to compare losses from any high point for FGEP.TO and CMGG.TO.
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Drawdown Indicators
| FGEP.TO | CMGG.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.78% | -29.00% | +14.22% |
Max Drawdown (1Y)Largest decline over 1 year | -7.14% | -10.15% | +3.01% |
Max Drawdown (3Y)Largest decline over 3 years | — | -22.85% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.00% | — |
Current DrawdownCurrent decline from peak | -0.66% | 0.00% | -0.66% |
Average DrawdownAverage peak-to-trough decline | -1.64% | -8.91% | +7.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.69% | 3.62% | -1.93% |
Volatility
FGEP.TO vs. CMGG.TO - Volatility Comparison
The current volatility for Fidelity Global Equity+ Fund ETF (FGEP.TO) is 3.81%, while CI Munro Global Growth Equity Fund (CMGG.TO) has a volatility of 6.68%. This indicates that FGEP.TO experiences smaller price fluctuations and is considered to be less risky than CMGG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FGEP.TO | CMGG.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.81% | 6.68% | -2.87% |
Volatility (6M)Calculated over the trailing 6-month period | 8.34% | 12.94% | -4.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.47% | 16.53% | -6.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.70% | 18.22% | -5.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.70% | 18.49% | -5.79% |
FGEP.TO vs. CMGG.TO - Expense Ratio Comparison
FGEP.TO has a 1.16% expense ratio, which is higher than CMGG.TO's 0.90% expense ratio.
Dividends
FGEP.TO vs. CMGG.TO - Dividend Comparison
Neither FGEP.TO nor CMGG.TO has paid dividends to shareholders.
Frequently Asked Questions
FGEP.TO and CMGG.TO have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMGG.TO is cheaper at 0.90% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMGG.TO is cheaper with a 0.90% expense ratio, compared with 1.16% for FGEP.TO.
They also come from different issuers: Fidelity and CI Global Asset Management. Their fees differ too: 1.16% for FGEP.TO and 0.90% for CMGG.TO.
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