FXM.TO vs. CGRE.TO
FXM.TO (CI Morningstar Canada Value Index ETF) and CGRE.TO (CI Global REIT Private Pool) are both exchange-traded funds - FXM.TO is a Canada Equities fund tracking the Morningstar Canada Target Value Index, while CGRE.TO is a REIT fund actively managed by CI. FXM.TO is passively managed, while CGRE.TO is actively managed. Over the past 5 years, FXM.TO returned 19.13%/yr vs 3.52%/yr for CGRE.TO. Their 0.21 correlation means their historical movements had little consistent relationship. FXM.TO charges 0.64%/yr vs 0.91%/yr for CGRE.TO.
Performance
FXM.TO vs. CGRE.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FXM.TO achieves a 18.11% return, which is significantly higher than CGRE.TO's 15.94% return.
FXM.TO
- 1D
- -0.58%
- 1M
- 3.42%
- 6M
- 14.85%
- YTD
- 18.11%
- 1Y
- 45.40%
- 3Y*
- 27.60%
- 5Y*
- 19.13%
- 10Y*
- 14.71%
- ALL TIME*
- 13.03%
CGRE.TO
- 1D
- 0.00%
- 1M
- 2.24%
- 6M
- 14.16%
- YTD
- 15.94%
- 1Y
- 15.91%
- 3Y*
- 9.43%
- 5Y*
- 3.52%
- 10Y*
- —
- ALL TIME*
- 7.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
CGRE.TO CI Global REIT Private Pool | CA$260.74 | CA$597.77 | CA$14.69K |
| CA$211.28K | CA$184.82K | CA$281.27K |
FXM.TO vs. CGRE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FXM.TO CI Morningstar Canada Value Index ETF | 18.11% | 38.54% | 30.05% | 5.79% | -1.19% | 31.47% | 28.76% |
CGRE.TO CI Global REIT Private Pool | 15.94% | 3.39% | 4.66% | 11.66% | -23.63% | 35.03% | 8.96% |
Correlation
The correlation between FXM.TO and CGRE.TO is 0.11, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.11 |
Correlation (3Y) Balances recent behavior with more history. | 0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.22 |
Correlation (All Time) Calculated using the full available price history since May 21, 2020 | 0.21 |
The correlation between FXM.TO and CGRE.TO shifts across timeframes, from 0.11 (1 year) to 0.22 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FXM.TO vs. CGRE.TO — Risk / Return Rank
FXM.TO
CGRE.TO
FXM.TO vs. CGRE.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Morningstar Canada Value Index ETF (FXM.TO) and CI Global REIT Private Pool (CGRE.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.
| FXM.TO | CGRE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.66 | ||
| Sortino ratioReturn per unit of downside risk | +3.08 | ||
| Omega ratioGain probability vs. loss probability | 1.75 | 1.33 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 5.51 | 1.92 | +3.60 |
| Martin ratioReturn relative to average drawdown | 21.50 | 5.97 | +15.54 |
Loading charts...
Drawdowns
FXM.TO vs. CGRE.TO - Drawdown Comparison
The maximum FXM.TO drawdown since its inception was -46.41%, which is greater than CGRE.TO's maximum drawdown of -28.28%. Use the drawdown chart below to compare losses from any high point for FXM.TO and CGRE.TO.
Loading charts...
Drawdown Indicators
| FXM.TO | CGRE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.41% | -28.28% | -18.13% |
Max Drawdown (1Y)Largest decline over 1 year | -8.11% | -8.38% | +0.27% |
Max Drawdown (3Y)Largest decline over 3 years | -12.44% | -12.23% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -16.08% | -28.28% | +12.20% |
Max Drawdown (10Y)Largest decline over 10 years | -46.41% | — | — |
Current DrawdownCurrent decline from peak | -0.65% | 0.00% | -0.65% |
Average DrawdownAverage peak-to-trough decline | -4.64% | -9.42% | +4.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.08% | 2.68% | -0.60% |
Volatility
FXM.TO vs. CGRE.TO - Volatility Comparison
CI Morningstar Canada Value Index ETF (FXM.TO) has a higher volatility of 2.53% compared to CI Global REIT Private Pool (CGRE.TO) at 1.50%. This indicates that FXM.TO's price experiences larger fluctuations and is considered to be riskier than CGRE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FXM.TO | CGRE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.53% | 1.50% | +1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 8.27% | 8.89% | -0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.25% | 12.03% | -0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.15% | 14.90% | -0.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.88% | 14.32% | +2.56% |
FXM.TO vs. CGRE.TO - Expense Ratio Comparison
FXM.TO has a 0.64% expense ratio, which is lower than CGRE.TO's 0.91% expense ratio.
Dividends
FXM.TO vs. CGRE.TO - Dividend Comparison
FXM.TO's dividend yield for the trailing twelve months is around 1.72%, less than CGRE.TO's 4.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGRE.TO CI Global REIT Private Pool | 4.39% | 4.95% | 4.88% | 4.86% | 5.16% | 3.77% | 2.84% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FXM.TO CI Morningstar Canada Value Index ETF | 1.72% | 1.91% | 2.17% | 2.96% | 2.18% | 2.19% | 2.40% | 2.04% | 2.52% | 1.70% | 1.83% | 2.24% |
Frequently Asked Questions
FXM.TO and CGRE.TO have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FXM.TO is cheaper at 0.64% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FXM.TO is cheaper with a 0.64% expense ratio, compared with 0.91% for CGRE.TO.
FXM.TO is categorized as Canada Equities, while CGRE.TO is REIT. Their fees differ too: 0.64% for FXM.TO and 0.91% for CGRE.TO.
Find the right allocation for FXM.TO and CGRE.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer