HDGE.TO vs. CMAG.TO
HDGE.TO (Accelerate Absolute Return Fund) and CMAG.TO (CI Munro Alternative Global Growth Fund) are both Long-Short funds. Both are actively managed. Over the past 5 years, HDGE.TO returned 13.68%/yr vs 10.22%/yr for CMAG.TO. At a 0.06 correlation, their price movements are largely independent.
Performance
HDGE.TO vs. CMAG.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HDGE.TO achieves a 0.87% return, which is significantly lower than CMAG.TO's 9.85% return.
HDGE.TO
- 1D
- -0.54%
- 1M
- -1.49%
- 6M
- 3.31%
- YTD
- 0.87%
- 1Y
- 7.70%
- 3Y*
- 9.13%
- 5Y*
- 13.68%
- 10Y*
- —
- ALL TIME*
- 6.67%
CMAG.TO
- 1D
- 0.04%
- 1M
- -5.48%
- 6M
- 8.31%
- YTD
- 9.85%
- 1Y
- 14.04%
- 3Y*
- 22.44%
- 5Y*
- 10.22%
- 10Y*
- —
- ALL TIME*
- 14.10%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$107.01K | CA$247.67K | CA$200.38K | |
| CA$3.92K | CA$12.94K | CA$12.62K |
HDGE.TO vs. CMAG.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HDGE.TO Accelerate Absolute Return Fund | 0.87% | 3.68% | 22.91% | 3.36% | 15.47% | 27.57% | -6.53% |
CMAG.TO CI Munro Alternative Global Growth Fund | 9.85% | 13.08% | 37.11% | 16.07% | -19.04% | 9.21% | 34.62% |
Correlation
The correlation between HDGE.TO and CMAG.TO is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2020 | 0.06 |
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Return for Risk
HDGE.TO vs. CMAG.TO — Risk / Return Rank
HDGE.TO
CMAG.TO
HDGE.TO vs. CMAG.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Accelerate Absolute Return Fund (HDGE.TO) and CI Munro Alternative Global Growth Fund (CMAG.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.
| HDGE.TO | CMAG.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.13 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.85 | 1.22 | -0.37 |
| Martin ratioReturn relative to average drawdown | 2.31 | 3.13 | -0.82 |
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Drawdowns
HDGE.TO vs. CMAG.TO - Drawdown Comparison
The maximum HDGE.TO drawdown since its inception was -29.81%, which is greater than CMAG.TO's maximum drawdown of -23.94%. Use the drawdown chart below to compare losses from any high point for HDGE.TO and CMAG.TO.
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Drawdown Indicators
| HDGE.TO | CMAG.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.81% | -23.94% | -5.87% |
Max Drawdown (1Y)Largest decline over 1 year | -9.07% | -11.54% | +2.47% |
Max Drawdown (3Y)Largest decline over 3 years | -12.20% | -18.87% | +6.67% |
Max Drawdown (5Y)Largest decline over 5 years | -13.69% | -23.94% | +10.25% |
Current DrawdownCurrent decline from peak | -3.68% | -8.19% | +4.51% |
Average DrawdownAverage peak-to-trough decline | -8.58% | -8.10% | -0.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.34% | 4.49% | -1.15% |
Volatility
HDGE.TO vs. CMAG.TO - Volatility Comparison
The current volatility for Accelerate Absolute Return Fund (HDGE.TO) is 4.43%, while CI Munro Alternative Global Growth Fund (CMAG.TO) has a volatility of 8.74%. This indicates that HDGE.TO experiences smaller price fluctuations and is considered to be less risky than CMAG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HDGE.TO | CMAG.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.43% | 8.74% | -4.31% |
Volatility (6M)Calculated over the trailing 6-month period | 11.52% | 18.53% | -7.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.92% | 21.31% | -7.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.45% | 17.32% | -0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.26% | 17.25% | +0.01% |
Dividends
HDGE.TO vs. CMAG.TO - Dividend Comparison
HDGE.TO's dividend yield for the trailing twelve months is around 1.45%, while CMAG.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CMAG.TO CI Munro Alternative Global Growth Fund | 0.00% | 0.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HDGE.TO Accelerate Absolute Return Fund | 1.45% | 1.45% | 1.48% | 2.10% | 2.14% | 2.05% | 3.01% | 0.99% |
Frequently Asked Questions
HDGE.TO and CMAG.TO have a correlation of -0.01, 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: Accelerate Financial Technologies Inc. and CI.
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