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

UMI.TO vs. VXM-B.TO

Last updated Jul 1, 2026
See Documentation

UMI.TO (CI U.S. MidCap Dividend Index ETF) and VXM-B.TO (CI Morningstar International Value Index ETF (Unhedged)) are both exchange-traded funds - UMI.TO is a Mid Cap Value Equities 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, UMI.TO returned 6.77%/yr vs 17.52%/yr for VXM-B.TO. At a 0.29 correlation, their price movements are largely independent.

Performance

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

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI U.S. MidCap Dividend Index ETF (UMI.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

The year-to-date returns for both investments are quite close, with UMI.TO having a 8.40% return and VXM-B.TO slightly higher at 8.67%.

UMI.TO

1D
0.70%
1M
1.96%
YTD
8.40%
6M
8.28%
1Y
13.11%
3Y*
11.51%
5Y*
6.77%
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)

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

2026 (YTD)202520242023202220212020201920182017
UMI.TO
CI U.S. MidCap Dividend Index ETF		8.40%2.81%11.84%13.17%-6.84%27.52%-8.25%21.06%-10.77%2.61%
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%0.23%

Correlation

The correlation between UMI.TO and VXM-B.TO is 0.08, 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

0.08

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

0.20

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

0.26

Correlation (All Time)
Calculated using the full available price history since Nov 30, 2017

0.29

Over the past year, the correlation between UMI.TO and VXM-B.TO has dropped to 0.08 - well below their long-term average of 0.29, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

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CI U.S. MidCap Dividend Index ETF

CI Morningstar International Value Index ETF (Unhedged)

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VXM-B.TO vs. CMNY.TOVXM-B.TO vs. CGXF.TOVXM-B.TO vs. CCOM.TOVXM-B.TO vs. CEQT.TOVXM-B.TO vs. NXF.TOVXM-B.TO vs. CIC.TOVXM-B.TO vs. CBCX.TO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UMI.TO
UMI.TO Risk / Return Rank: 3434
Overall Rank
UMI.TO Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
UMI.TO Sortino Ratio Rank: 3434
Sortino Ratio Rank
UMI.TO Omega Ratio Rank: 3232
Omega Ratio Rank
UMI.TO Calmar Ratio Rank: 3535
Calmar Ratio Rank
UMI.TO Martin Ratio Rank: 3636
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.

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

This table presents a comparison of risk-adjusted performance metrics for CI U.S. MidCap Dividend Index ETF (UMI.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.

UMI.TOVXM-B.TODifference
Sharpe ratioReturn per unit of total volatility
1.02
2.14

-1.11

Sortino ratioReturn per unit of downside risk
1.62
2.91

-1.29

Omega ratioGain probability vs. loss probability

1.19

1.38

-0.19

Calmar ratioReturn relative to maximum drawdown

1.57

2.76

-1.19

Martin ratioReturn relative to average drawdown

4.84

9.99

-5.15

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

The current UMI.TO Sharpe Ratio is 1.02, which is lower than the VXM-B.TO Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of UMI.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

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

The maximum UMI.TO drawdown since its inception was -48.08%, which is greater than VXM-B.TO's maximum drawdown of -38.71%. Use the drawdown chart below to compare losses from any high point for UMI.TO and VXM-B.TO.

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Drawdown Indicators

UMI.TOVXM-B.TODifference

Max Drawdown

Largest peak-to-trough decline

-48.08%

-38.71%

-9.37%

Max Drawdown (1Y)

Largest decline over 1 year

-9.39%

-10.33%

+0.94%

Max Drawdown (3Y)

Largest decline over 3 years

-22.03%

-13.31%

-8.72%

Max Drawdown (5Y)

Largest decline over 5 years

-22.03%

-22.12%

+0.09%

Max Drawdown (10Y)

Largest decline over 10 years

—

-38.71%

—

Current Drawdown

Current decline from peak

-0.11%

-4.06%

+3.95%

Average Drawdown

Average peak-to-trough decline

-6.81%

-7.79%

+0.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.04%

2.85%

+0.19%

Volatility

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

The current volatility for CI U.S. MidCap Dividend Index ETF (UMI.TO) is 3.14%, while CI Morningstar International Value Index ETF (Unhedged) (VXM-B.TO) has a volatility of 3.76%. This indicates that UMI.TO experiences smaller price fluctuations and is considered to be less risky 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

UMI.TOVXM-B.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.14%

3.76%

-0.62%

Volatility (6M)

Calculated over the trailing 6-month period

9.54%

10.89%

-1.35%

Volatility (1Y)

Calculated over the trailing 1-year period

14.46%

13.37%

+1.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.15%

13.75%

+3.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.03%

15.15%

+5.88%

Dividends

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

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

PositionTTM20252024202320222021202020192018201720162015
UMI.TO
CI U.S. MidCap Dividend Index ETF		2.37%2.60%2.09%2.42%3.01%1.79%2.18%2.47%2.31%0.00%0.00%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

UMI.TO and VXM-B.TO have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

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