QXM.TO vs. CCOM.TO
QXM.TO (CI Morningstar National Bank Québec Index ETF) and CCOM.TO (CI Auspice Broad Commodity Fund ETF Hedged Units) are both exchange-traded funds - QXM.TO is a Canada Equities fund managed by CI, while CCOM.TO is a Commodities fund tracking the Auspice Broad Commodity Excess Return Index. Over the past 3 years, QXM.TO returned 17.08%/yr vs 6.26%/yr for CCOM.TO. At a 0.03 correlation, their price movements are largely independent.
Performance
QXM.TO vs. CCOM.TO - Performance Comparison
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Returns By Period
In the year-to-date period, QXM.TO achieves a 6.00% return, which is significantly lower than CCOM.TO's 10.49% return.
QXM.TO
- 1D
- -1.03%
- 1M
- 2.42%
- YTD
- 6.00%
- 6M
- 5.73%
- 1Y
- 24.00%
- 3Y*
- 17.08%
- 5Y*
- 10.70%
- 10Y*
- 10.71%
CCOM.TO
- 1D
- 0.26%
- 1M
- -3.91%
- YTD
- 10.49%
- 6M
- 9.70%
- 1Y
- 19.51%
- 3Y*
- 6.26%
- 5Y*
- —
- 10Y*
- —
QXM.TO vs. CCOM.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
QXM.TO CI Morningstar National Bank Québec Index ETF | 6.00% | 23.46% | 20.08% | 13.24% | 7.44% |
CCOM.TO CI Auspice Broad Commodity Fund ETF Hedged Units | 10.49% | 6.96% | 5.90% | -2.46% | 1.40% |
Correlation
The correlation between QXM.TO and CCOM.TO is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2022 | 0.03 |
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Return for Risk
QXM.TO vs. CCOM.TO — Risk / Return Rank
QXM.TO
CCOM.TO
QXM.TO vs. CCOM.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Morningstar National Bank Québec Index ETF (QXM.TO) and CI Auspice Broad Commodity Fund ETF Hedged Units (CCOM.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.
| QXM.TO | CCOM.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.36 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 2.54 | +0.03 |
| Martin ratioReturn relative to average drawdown | 9.52 | 8.33 | +1.19 |
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Drawdowns
QXM.TO vs. CCOM.TO - Drawdown Comparison
The maximum QXM.TO drawdown since its inception was -40.65%, which is greater than CCOM.TO's maximum drawdown of -9.79%. Use the drawdown chart below to compare losses from any high point for QXM.TO and CCOM.TO.
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Drawdown Indicators
| QXM.TO | CCOM.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.65% | -9.79% | -30.86% |
Max Drawdown (1Y)Largest decline over 1 year | -9.38% | -7.73% | -1.65% |
Max Drawdown (3Y)Largest decline over 3 years | -15.72% | -8.18% | -7.54% |
Max Drawdown (5Y)Largest decline over 5 years | -23.01% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -40.65% | — | — |
Current DrawdownCurrent decline from peak | -1.03% | -7.49% | +6.46% |
Average DrawdownAverage peak-to-trough decline | -4.19% | -3.04% | -1.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 2.35% | +0.18% |
Volatility
QXM.TO vs. CCOM.TO - Volatility Comparison
CI Morningstar National Bank Québec Index ETF (QXM.TO) and CI Auspice Broad Commodity Fund ETF Hedged Units (CCOM.TO) have volatilities of 2.48% and 2.45%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QXM.TO | CCOM.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.48% | 2.45% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 11.23% | 8.46% | +2.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.01% | 10.04% | +2.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.84% | 8.43% | +5.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.64% | 8.43% | +7.21% |
Dividends
QXM.TO vs. CCOM.TO - Dividend Comparison
QXM.TO's dividend yield for the trailing twelve months is around 1.01%, less than CCOM.TO's 13.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CCOM.TO CI Auspice Broad Commodity Fund ETF Hedged Units | 13.61% | 3.48% | 6.99% | 4.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QXM.TO CI Morningstar National Bank Québec Index ETF | 1.01% | 1.17% | 1.27% | 1.39% | 1.51% | 1.02% | 1.27% | 1.39% | 1.65% | 1.36% | 1.56% | 1.52% |
Frequently Asked Questions
QXM.TO and CCOM.TO have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QXM.TO is categorized as Canada Equities, while CCOM.TO is Commodities.
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