SOBO.TO vs. CMR.TO

Last updated Jul 2, 2026

SOBO.TO (South Bow Corp) is a stock, while CMR.TO (iShares Premium Money Market ETF) is Money Market fund actively managed by iShares. Over the past year, SOBO.TO returned 50.73% vs 2.46% for CMR.TO. At a 0.03 correlation, their price movements are largely independent.

Performance

SOBO.TO vs. CMR.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in South Bow Corp (SOBO.TO) and iShares Premium Money Market ETF (CMR.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOBO.TO achieves a 36.21% return, which is significantly higher than CMR.TO's 1.15% return.

SOBO.TO

• 1D: -0.51%
• 1M: 0.79%
• YTD: 36.21%
• 6M: 36.21%
• 1Y: 50.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CMR.TO

• 1D: 0.00%
• 1M: 0.17%
• YTD: 1.15%
• 6M: 1.15%
• 1Y: 2.46%
• 3Y*: 3.71%
• 5Y*: 3.00%
• 10Y*: 1.92%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SOBO.TO vs. CMR.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SOBO.TO South Bow Corp	36.21%	19.87%	23.73%
CMR.TO iShares Premium Money Market ETF	1.15%	2.78%	1.08%

Correlation

The correlation between SOBO.TO and CMR.TO is 0.09, 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	0.09
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024	0.03

Return for Risk

SOBO.TO vs. CMR.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SOBO.TO

SOBO.TO Risk / Return Rank: 92
SOBO.TO Sharpe Ratio Rank: 94
SOBO.TO Sortino Ratio Rank: 94
SOBO.TO Omega Ratio Rank: 91
SOBO.TO Calmar Ratio Rank: 91
SOBO.TO Martin Ratio Rank: 91

CMR.TO

CMR.TO Risk / Return Rank: 100
CMR.TO Sharpe Ratio Rank: 100
CMR.TO Sortino Ratio Rank: 100
CMR.TO Omega Ratio Rank: 100
CMR.TO Calmar Ratio Rank: 100
CMR.TO Martin Ratio Rank: 100

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.

SOBO.TO vs. CMR.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for South Bow Corp (SOBO.TO) and iShares Premium Money Market ETF (CMR.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.

	SOBO.TO	CMR.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.55	12.28	-9.73
Sortino ratio: Return per unit of downside risk	3.51	38.52	-35.00
Omega ratio: Gain probability vs. loss probability	1.41	13.16	-11.74
Calmar ratio: Return relative to maximum drawdown	4.22	123.47	-119.25
Martin ratio: Return relative to average drawdown	11.03	564.92	-553.89

SOBO.TO vs. CMR.TO - Sharpe Ratio Comparison

The current SOBO.TO Sharpe Ratio is 2.55, which is lower than the CMR.TO Sharpe Ratio of 12.28. The chart below compares the historical Sharpe Ratios of SOBO.TO and CMR.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.

Drawdowns

SOBO.TO vs. CMR.TO - Drawdown Comparison

The maximum SOBO.TO drawdown since its inception was -26.40%, which is greater than CMR.TO's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for SOBO.TO and CMR.TO.

Drawdown Indicators

	SOBO.TO	CMR.TO	Difference
Max Drawdown Largest peak-to-trough decline	-26.40%	-0.52%	-25.88%
Max Drawdown (1Y) Largest decline over 1 year	-12.09%	-0.02%	-12.07%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.04%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.04%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.14%	—
Current Drawdown Current decline from peak	-4.96%	0.00%	-4.96%
Average Drawdown Average peak-to-trough decline	-4.67%	-0.01%	-4.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.61%	0.00%	+4.61%

Volatility

SOBO.TO vs. CMR.TO - Volatility Comparison

South Bow Corp (SOBO.TO) has a higher volatility of 7.18% compared to iShares Premium Money Market ETF (CMR.TO) at 0.07%. This indicates that SOBO.TO's price experiences larger fluctuations and is considered to be riskier than CMR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOBO.TO	CMR.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.18%	0.07%	+7.11%
Volatility (6M) Calculated over the trailing 6-month period	14.95%	0.15%	+14.80%
Volatility (1Y) Calculated over the trailing 1-year period	20.02%	0.20%	+19.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.08%	0.27%	+43.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.08%	0.27%	+43.81%

Dividends

SOBO.TO vs. CMR.TO - Dividend Comparison

SOBO.TO's dividend yield for the trailing twelve months is around 5.58%, more than CMR.TO's 2.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMR.TO iShares Premium Money Market ETF	2.45%	2.81%	4.56%	4.64%	1.63%	0.01%	0.47%	1.60%	1.33%	0.61%	0.43%	0.48%
SOBO.TO South Bow Corp	5.58%	7.37%	2.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SOBO.TO and CMR.TO in my portfolio?

SOBO.TO and CMR.TO have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.