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IQD.TO vs. VXM-B.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IQD.TO vs. VXM-B.TO

Last updated Jul 1, 2026
See Documentation

IQD.TO (CI International Quality Dividend Growth Index ETF) and VXM-B.TO (CI Morningstar International Value Index ETF (Unhedged)) are both exchange-traded funds - IQD.TO is a Dividend fund managed by CI, while VXM-B.TO is a Foreign Small & Mid Cap Equities fund tracking the Morningstar Developed Markets ex-North America Target Value Index. Over the past 5 years, IQD.TO returned 6.87%/yr vs 17.52%/yr for VXM-B.TO. At a 0.31 correlation, their price movements are largely independent.

Performance

IQD.TO vs. VXM-B.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI International Quality Dividend Growth Index ETF (IQD.TO) and CI Morningstar International Value Index ETF (Unhedged) (VXM-B.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IQD.TO achieves a 8.20% return, which is significantly lower than VXM-B.TO's 8.67% return.

IQD.TO

1D
0.23%
1M
2.60%
YTD
8.20%
6M
7.85%
1Y
16.35%
3Y*
10.30%
5Y*
6.87%
10Y*
—

VXM-B.TO

1D
-1.19%
1M
-2.28%
YTD
8.67%
6M
8.70%
1Y
28.44%
3Y*
27.12%
5Y*
17.52%
10Y*
12.06%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IQD.TO vs. VXM-B.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IQD.TO
CI International Quality Dividend Growth Index ETF		8.20%12.84%4.33%18.05%-12.63%18.47%9.12%30.79%-12.87%23.09%
VXM-B.TO
CI Morningstar International Value Index ETF (Unhedged)		8.67%46.74%18.34%18.89%-2.50%9.58%-10.23%9.77%-11.40%22.82%

Correlation

The correlation between IQD.TO and VXM-B.TO is 0.61, 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

0.61

Correlation (3Y)
Calculated over the trailing 3-year period

0.39

Correlation (5Y)
Calculated over the trailing 5-year period

0.35

Correlation (All Time)
Calculated using the full available price history since Jul 22, 2016

0.31

Over the past year, IQD.TO and VXM-B.TO have become more correlated (0.61) than their long-term average of 0.31, meaning their price movements have been converging.

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CI International Quality Dividend Growth Index ETF

CI Morningstar International Value Index ETF (Unhedged)

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Return for Risk

IQD.TO vs. VXM-B.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IQD.TO
IQD.TO Risk / Return Rank: 3737
Overall Rank
IQD.TO Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
IQD.TO Sortino Ratio Rank: 3737
Sortino Ratio Rank
IQD.TO Omega Ratio Rank: 3737
Omega Ratio Rank
IQD.TO Calmar Ratio Rank: 3636
Calmar Ratio Rank
IQD.TO Martin Ratio Rank: 4141
Martin Ratio Rank
VXM-B.TO
VXM-B.TO Risk / Return Rank: 7272
Overall Rank
VXM-B.TO Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
VXM-B.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
VXM-B.TO Omega Ratio Rank: 7777
Omega Ratio Rank
VXM-B.TO Calmar Ratio Rank: 6666
Calmar Ratio Rank
VXM-B.TO Martin Ratio Rank: 6565
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IQD.TO vs. VXM-B.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI International Quality Dividend Growth Index ETF (IQD.TO) and CI Morningstar International Value Index ETF (Unhedged) (VXM-B.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.

IQD.TOVXM-B.TODifference
Sharpe ratioReturn per unit of total volatility
1.14
2.14

-1.00

Sortino ratioReturn per unit of downside risk
1.72
2.91

-1.19

Omega ratioGain probability vs. loss probability

1.22

1.38

-0.16

Calmar ratioReturn relative to maximum drawdown

1.59

2.76

-1.17

Martin ratioReturn relative to average drawdown

5.68

9.99

-4.31

IQD.TO vs. VXM-B.TO - Sharpe Ratio Comparison

The current IQD.TO Sharpe Ratio is 1.14, which is lower than the VXM-B.TO Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of IQD.TO and VXM-B.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IQD.TO vs. VXM-B.TO - Drawdown Comparison

The maximum IQD.TO drawdown since its inception was -30.69%, smaller than the maximum VXM-B.TO drawdown of -38.71%. Use the drawdown chart below to compare losses from any high point for IQD.TO and VXM-B.TO.

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Drawdown Indicators

IQD.TOVXM-B.TODifference

Max Drawdown

Largest peak-to-trough decline

-30.69%

-38.71%

+8.02%

Max Drawdown (1Y)

Largest decline over 1 year

-10.31%

-10.33%

+0.02%

Max Drawdown (3Y)

Largest decline over 3 years

-18.94%

-13.31%

-5.63%

Max Drawdown (5Y)

Largest decline over 5 years

-20.52%

-22.12%

+1.60%

Max Drawdown (10Y)

Largest decline over 10 years

—

-38.71%

—

Current Drawdown

Current decline from peak

-0.31%

-4.06%

+3.75%

Average Drawdown

Average peak-to-trough decline

-4.13%

-7.79%

+3.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.88%

2.85%

+0.03%

Volatility

IQD.TO vs. VXM-B.TO - Volatility Comparison

CI International Quality Dividend Growth Index ETF (IQD.TO) has a higher volatility of 4.32% compared to CI Morningstar International Value Index ETF (Unhedged) (VXM-B.TO) at 3.76%. This indicates that IQD.TO's price experiences larger fluctuations and is considered to be riskier than VXM-B.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IQD.TOVXM-B.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.32%

3.76%

+0.56%

Volatility (6M)

Calculated over the trailing 6-month period

12.53%

10.89%

+1.64%

Volatility (1Y)

Calculated over the trailing 1-year period

14.42%

13.37%

+1.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.20%

13.75%

+1.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.41%

15.15%

+0.26%

Dividends

IQD.TO vs. VXM-B.TO - Dividend Comparison

IQD.TO's dividend yield for the trailing twelve months is around 2.37%, more than VXM-B.TO's 2.01% yield.

PositionTTM20252024202320222021202020192018201720162015
IQD.TO
CI International Quality Dividend Growth Index ETF		2.37%3.08%1.38%1.66%4.21%2.19%1.24%1.79%2.10%1.12%0.48%0.00%
VXM-B.TO
CI Morningstar International Value Index ETF (Unhedged)		2.01%2.21%3.97%3.67%3.67%2.05%2.18%1.59%2.05%1.52%1.42%1.04%

Frequently Asked Questions

IQD.TO and VXM-B.TO have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IQD.TO is categorized as Dividend, while VXM-B.TO is Foreign Small & Mid Cap Equities.

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