FLCI.TO vs. CFRN.TO
FLCI.TO (Franklin Canadian Corporate Bond Fund ETF) and CFRN.TO (CIBC Active Investment Grade Floating Rate Bond ETF) are both Corporate Bonds funds. Both are actively managed. Over the past 5 years, FLCI.TO returned 2.15%/yr vs 3.43%/yr for CFRN.TO. At a 0.08 correlation, their price movements are largely independent.
Performance
FLCI.TO vs. CFRN.TO - Performance Comparison
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Returns By Period
In the year-to-date period, FLCI.TO achieves a 1.22% return, which is significantly lower than CFRN.TO's 1.41% return.
FLCI.TO
- 1D
- -0.39%
- 1M
- -0.60%
- 6M
- 0.62%
- YTD
- 1.22%
- 1Y
- 5.04%
- 3Y*
- 6.62%
- 5Y*
- 2.15%
- 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*
- —
FLCI.TO vs. CFRN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FLCI.TO Franklin Canadian Corporate Bond Fund ETF | 1.22% | 4.88% | 8.03% | 8.31% | -10.13% | -1.62% | 7.74% | 8.18% |
CFRN.TO CIBC Active Investment Grade Floating Rate Bond ETF | 1.41% | 3.32% | 5.21% | 5.83% | 1.40% | 0.25% | 1.04% | 1.97% |
Correlation
The correlation between FLCI.TO and CFRN.TO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2019 | 0.08 |
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Return for Risk
FLCI.TO vs. CFRN.TO — Risk / Return Rank
FLCI.TO
CFRN.TO
FLCI.TO vs. CFRN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Canadian Corporate Bond Fund ETF (FLCI.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.
| FLCI.TO | CFRN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.04 | ||
| Sortino ratioReturn per unit of downside risk | -1.78 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.55 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 6.68 | -4.44 |
| Martin ratioReturn relative to average drawdown | 6.32 | 31.94 | -25.62 |
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Drawdowns
FLCI.TO vs. CFRN.TO - Drawdown Comparison
The maximum FLCI.TO drawdown since its inception was -17.51%, 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 FLCI.TO and CFRN.TO.
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Drawdown Indicators
| FLCI.TO | CFRN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.51% | -1.00% | -16.51% |
Max Drawdown (1Y)Largest decline over 1 year | -2.27% | -0.45% | -1.82% |
Max Drawdown (3Y)Largest decline over 3 years | -3.31% | -0.66% | -2.65% |
Max Drawdown (5Y)Largest decline over 5 years | -14.63% | -1.00% | -13.63% |
Current DrawdownCurrent decline from peak | -1.16% | 0.00% | -1.16% |
Average DrawdownAverage peak-to-trough decline | -3.29% | -0.15% | -3.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 0.09% | +0.71% |
Volatility
FLCI.TO vs. CFRN.TO - Volatility Comparison
Franklin Canadian Corporate Bond Fund ETF (FLCI.TO) has a higher volatility of 1.77% compared to CIBC Active Investment Grade Floating Rate Bond ETF (CFRN.TO) at 0.22%. This indicates that FLCI.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
| FLCI.TO | CFRN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 0.22% | +1.55% |
Volatility (6M)Calculated over the trailing 6-month period | 3.24% | 0.83% | +2.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 1.33% | +2.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.67% | 2.10% | +3.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.47% | 1.78% | +4.69% |
Dividends
FLCI.TO vs. CFRN.TO - Dividend Comparison
FLCI.TO's dividend yield for the trailing twelve months is around 4.47%, more than CFRN.TO's 3.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
FLCI.TO Franklin Canadian Corporate Bond Fund ETF | 4.47% | 4.26% | 4.41% | 4.09% | 4.95% | 3.07% | 2.99% | 3.68% | 3.87% | 0.84% |
Frequently Asked Questions
FLCI.TO and CFRN.TO have a correlation of 0.14, 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: Franklin and CIBC.
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