FIE.TO vs. CEW.TO
FIE.TO (iShares Canadian Financial Monthly Income ETF) and CEW.TO (iShares Equal Weight Banc & Lifeco ETF) are both Financials Equities funds from iShares. FIE.TO is actively managed, while CEW.TO is passively managed. Over the past 10 years, FIE.TO returned 12.31%/yr vs 16.59%/yr for CEW.TO. Their correlation of 0.85 suggests significant overlap in exposure. FIE.TO charges 0.74%/yr vs 0.61%/yr for CEW.TO.
Performance
FIE.TO vs. CEW.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FIE.TO achieves a 14.56% return, which is significantly lower than CEW.TO's 26.79% return. Over the past 10 years, FIE.TO has underperformed CEW.TO with an annualized return of 12.31%, while CEW.TO has yielded a comparatively higher 16.59% annualized return.
FIE.TO
- 1D
- 0.09%
- 1M
- 4.86%
- YTD
- 14.56%
- 6M
- 11.23%
- 1Y
- 32.60%
- 3Y*
- 26.44%
- 5Y*
- 13.03%
- 10Y*
- 12.31%
CEW.TO
- 1D
- 0.00%
- 1M
- 8.49%
- YTD
- 26.79%
- 6M
- 23.07%
- 1Y
- 56.83%
- 3Y*
- 35.13%
- 5Y*
- 20.07%
- 10Y*
- 16.59%
FIE.TO vs. CEW.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FIE.TO iShares Canadian Financial Monthly Income ETF | 14.56% | 24.36% | 27.62% | 12.58% | -14.35% | 27.34% | 1.33% | 18.97% | -9.12% | 12.01% |
CEW.TO iShares Equal Weight Banc & Lifeco ETF | 26.79% | 32.70% | 29.62% | 17.18% | -6.76% | 29.51% | -0.38% | 25.64% | -12.71% | 12.06% |
Correlation
The correlation between FIE.TO and CEW.TO is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2010 | 0.85 |
The correlation between FIE.TO and CEW.TO has been stable across timeframes, ranging from 0.85 to 0.93 - a consistent structural relationship.
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Return for Risk
FIE.TO vs. CEW.TO — Risk / Return Rank
FIE.TO
CEW.TO
FIE.TO vs. CEW.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Financial Monthly Income ETF (FIE.TO) and iShares Equal Weight Banc & Lifeco ETF (CEW.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.
| FIE.TO | CEW.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.21 | ||
| Sortino ratioReturn per unit of downside risk | -1.54 | ||
| Omega ratioGain probability vs. loss probability | 1.71 | 1.89 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 4.55 | 8.02 | -3.46 |
| Martin ratioReturn relative to average drawdown | 14.80 | 29.59 | -14.79 |
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Drawdowns
FIE.TO vs. CEW.TO - Drawdown Comparison
The maximum FIE.TO drawdown since its inception was -42.24%, smaller than the maximum CEW.TO drawdown of -53.50%. Use the drawdown chart below to compare losses from any high point for FIE.TO and CEW.TO.
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Drawdown Indicators
| FIE.TO | CEW.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.24% | -53.50% | +11.26% |
Max Drawdown (1Y)Largest decline over 1 year | -7.19% | -7.13% | -0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -10.70% | -12.72% | +2.02% |
Max Drawdown (5Y)Largest decline over 5 years | -22.93% | -22.41% | -0.52% |
Max Drawdown (10Y)Largest decline over 10 years | -42.24% | -43.66% | +1.42% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.88% | -6.93% | +2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 1.93% | +0.28% |
Volatility
FIE.TO vs. CEW.TO - Volatility Comparison
The current volatility for iShares Canadian Financial Monthly Income ETF (FIE.TO) is 2.54%, while iShares Equal Weight Banc & Lifeco ETF (CEW.TO) has a volatility of 3.63%. This indicates that FIE.TO experiences smaller price fluctuations and is considered to be less risky than CEW.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIE.TO | CEW.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.54% | 3.63% | -1.09% |
Volatility (6M)Calculated over the trailing 6-month period | 7.83% | 10.17% | -2.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.02% | 11.79% | -2.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.55% | 13.57% | -3.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.06% | 17.01% | -2.95% |
FIE.TO vs. CEW.TO - Expense Ratio Comparison
FIE.TO has a 0.74% expense ratio, which is higher than CEW.TO's 0.61% expense ratio.
Dividends
FIE.TO vs. CEW.TO - Dividend Comparison
FIE.TO's dividend yield for the trailing twelve months is around 4.34%, more than CEW.TO's 2.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEW.TO iShares Equal Weight Banc & Lifeco ETF | 2.25% | 2.82% | 3.41% | 3.98% | 3.95% | 3.10% | 3.83% | 3.39% | 3.13% | 2.62% | 2.70% | 2.91% |
FIE.TO iShares Canadian Financial Monthly Income ETF | 4.34% | 4.94% | 5.83% | 6.98% | 7.31% | 5.92% | 7.10% | 6.65% | 7.38% | 6.28% | 6.59% | 7.43% |
Frequently Asked Questions
With a correlation of 0.93, FIE.TO and CEW.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, CEW.TO is cheaper at 0.61% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEW.TO is cheaper with a 0.61% expense ratio, compared with 0.74% for FIE.TO.
Their fees differ too: 0.74% for FIE.TO and 0.61% for CEW.TO.
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