QXM.TO vs. CMNY.TO
QXM.TO (CI Morningstar National Bank Québec Index ETF) and CMNY.TO (CI Money Market ETF CAD Series) are both exchange-traded funds - QXM.TO is a Canada Equities fund managed by CI, while CMNY.TO is a Money Market fund actively managed by CI. Over the past year, QXM.TO returned 24.00% vs 2.44% for CMNY.TO. At a 0.01 correlation, their price movements are largely independent.
Performance
QXM.TO vs. CMNY.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, QXM.TO achieves a 6.00% return, which is significantly higher than CMNY.TO's 1.17% 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%
CMNY.TO
- 1D
- 0.00%
- 1M
- 0.20%
- YTD
- 1.17%
- 6M
- 1.17%
- 1Y
- 2.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QXM.TO vs. CMNY.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
QXM.TO CI Morningstar National Bank Québec Index ETF | 6.00% | 23.46% | 20.08% | 1.38% |
CMNY.TO CI Money Market ETF CAD Series | 1.17% | 2.83% | 4.77% | 2.00% |
Correlation
The correlation between QXM.TO and CMNY.TO is 0.00, 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 | 0.00 |
Correlation (All Time) Calculated using the full available price history since Aug 8, 2023 | 0.01 |
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
QXM.TO vs. CMNY.TO — Risk / Return Rank
QXM.TO
CMNY.TO
QXM.TO vs. CMNY.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 Money Market ETF CAD Series (CMNY.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 | CMNY.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.45 | ||
| Sortino ratioReturn per unit of downside risk | -14.09 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 3.60 | -2.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 49.15 | -46.58 |
| Martin ratioReturn relative to average drawdown | 9.52 | 197.17 | -187.65 |
Loading charts...
Drawdowns
QXM.TO vs. CMNY.TO - Drawdown Comparison
The maximum QXM.TO drawdown since its inception was -40.65%, which is greater than CMNY.TO's maximum drawdown of -0.83%. Use the drawdown chart below to compare losses from any high point for QXM.TO and CMNY.TO.
Loading charts...
Drawdown Indicators
| QXM.TO | CMNY.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.65% | -0.83% | -39.82% |
Max Drawdown (1Y)Largest decline over 1 year | -9.38% | -0.05% | -9.33% |
Max Drawdown (3Y)Largest decline over 3 years | -15.72% | — | — |
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% | 0.00% | -1.03% |
Average DrawdownAverage peak-to-trough decline | -4.19% | -0.05% | -4.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 0.01% | +2.52% |
Volatility
QXM.TO vs. CMNY.TO - Volatility Comparison
CI Morningstar National Bank Québec Index ETF (QXM.TO) has a higher volatility of 2.48% compared to CI Money Market ETF CAD Series (CMNY.TO) at 0.08%. This indicates that QXM.TO's price experiences larger fluctuations and is considered to be riskier than CMNY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| QXM.TO | CMNY.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.48% | 0.08% | +2.40% |
Volatility (6M)Calculated over the trailing 6-month period | 11.23% | 0.22% | +11.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.01% | 0.34% | +12.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.84% | 1.01% | +12.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.64% | 1.01% | +14.63% |
Dividends
QXM.TO vs. CMNY.TO - Dividend Comparison
QXM.TO's dividend yield for the trailing twelve months is around 1.01%, less than CMNY.TO's 2.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMNY.TO CI Money Market ETF CAD Series | 2.49% | 2.89% | 4.64% | 2.02% | 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 CMNY.TO have a correlation of 0.00, 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 CMNY.TO is Money Market.
Find the right allocation for QXM.TO and CMNY.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