VALT-U.TO vs. CCOM.TO

Last updated Jul 1, 2026

VALT-U.TO (CI Gold Bullion ETF (US$ Series)) and CCOM.TO (CI Auspice Broad Commodity Fund ETF Hedged Units) are both exchange-traded funds - VALT-U.TO is a Gold fund actively managed by CI, while CCOM.TO is a Commodities fund tracking the Auspice Broad Commodity Excess Return Index. VALT-U.TO is actively managed, while CCOM.TO is passively managed. Over the past 3 years, VALT-U.TO returned 28.29%/yr vs 3.81%/yr for CCOM.TO. At a 0.31 correlation, their price movements are largely independent.

Performance

VALT-U.TO vs. CCOM.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CI Gold Bullion ETF (US$ Series) (VALT-U.TO) and CI Auspice Broad Commodity Fund ETF Hedged Units (CCOM.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VALT-U.TO is traded in USD, while CCOM.TO is traded in CAD. To make them comparable, the CCOM.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VALT-U.TO achieves a -6.39% return, which is significantly lower than CCOM.TO's 6.49% return.

VALT-U.TO

• 1D: 0.73%
• 1M: -11.06%
• YTD: -6.39%
• 6M: -7.30%
• 1Y: 22.84%
• 3Y*: 28.29%
• 5Y*: 17.66%
• 10Y*: —

CCOM.TO

• 1D: 0.12%
• 1M: -6.79%
• YTD: 6.49%
• 6M: 5.67%
• 1Y: 15.08%
• 3Y*: 3.81%
• 5Y*: —
• 10Y*: —

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

VALT-U.TO vs. CCOM.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
VALT-U.TO CI Gold Bullion ETF (US$ Series)	-6.39%	65.42%	26.27%	13.43%	10.37%
CCOM.TO CI Auspice Broad Commodity Fund ETF Hedged Units	6.49%	12.08%	-2.37%	-0.08%	2.59%

Correlation

The correlation between VALT-U.TO and CCOM.TO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (All Time) Calculated using the full available price history since Sep 27, 2022	0.31

Return for Risk

VALT-U.TO vs. CCOM.TO — Risk / Return Rank

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

VALT-U.TO

VALT-U.TO Risk / Return Rank: 21
VALT-U.TO Sharpe Ratio Rank: 19
VALT-U.TO Sortino Ratio Rank: 21
VALT-U.TO Omega Ratio Rank: 31
VALT-U.TO Calmar Ratio Rank: 17
VALT-U.TO Martin Ratio Rank: 17

CCOM.TO

CCOM.TO Risk / Return Rank: 65
CCOM.TO Sharpe Ratio Rank: 71
CCOM.TO Sortino Ratio Rank: 66
CCOM.TO Omega Ratio Rank: 72
CCOM.TO Calmar Ratio Rank: 60
CCOM.TO Martin Ratio Rank: 56

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.

VALT-U.TO vs. CCOM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Gold Bullion ETF (US$ Series) (VALT-U.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.

	VALT-U.TO	CCOM.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.56	1.30	-0.74
Sortino ratio: Return per unit of downside risk	1.05	1.78	-0.73
Omega ratio: Gain probability vs. loss probability	1.19	1.23	-0.04
Calmar ratio: Return relative to maximum drawdown	0.60	1.36	-0.76
Martin ratio: Return relative to average drawdown	1.61	4.57	-2.96

VALT-U.TO vs. CCOM.TO - Sharpe Ratio Comparison

The current VALT-U.TO Sharpe Ratio is 0.56, which is lower than the CCOM.TO Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of VALT-U.TO and CCOM.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

VALT-U.TO vs. CCOM.TO - Drawdown Comparison

The maximum VALT-U.TO drawdown since its inception was -38.65%, which is greater than CCOM.TO's maximum drawdown of -11.35%. Use the drawdown chart below to compare losses from any high point for VALT-U.TO and CCOM.TO.

Drawdown Indicators

	VALT-U.TO	CCOM.TO	Difference
Max Drawdown Largest peak-to-trough decline	-38.65%	-11.35%	-27.30%
Max Drawdown (1Y) Largest decline over 1 year	-38.65%	-11.13%	-27.52%
Max Drawdown (3Y) Largest decline over 3 years	-38.65%	-11.13%	-27.52%
Max Drawdown (5Y) Largest decline over 5 years	-38.65%	—	—
Current Drawdown Current decline from peak	-37.72%	-10.95%	-26.77%
Average Drawdown Average peak-to-trough decline	-6.11%	-4.86%	-1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.30%	3.31%	+10.99%

Volatility

VALT-U.TO vs. CCOM.TO - Volatility Comparison

CI Gold Bullion ETF (US$ Series) (VALT-U.TO) has a higher volatility of 8.30% compared to CI Auspice Broad Commodity Fund ETF Hedged Units (CCOM.TO) at 2.78%. This indicates that VALT-U.TO's price experiences larger fluctuations and is considered to be riskier than CCOM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VALT-U.TO	CCOM.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.30%	2.78%	+5.52%
Volatility (6M) Calculated over the trailing 6-month period	39.00%	9.37%	+29.63%
Volatility (1Y) Calculated over the trailing 1-year period	41.49%	11.62%	+29.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.08%	10.80%	+12.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.39%	10.80%	+11.59%

Dividends

VALT-U.TO vs. CCOM.TO - Dividend Comparison

VALT-U.TO has not paid dividends to shareholders, while CCOM.TO's dividend yield for the trailing twelve months is around 13.61%.

Position	TTM	2025	2024	2023
CCOM.TO CI Auspice Broad Commodity Fund ETF Hedged Units	13.61%	3.48%	6.99%	4.21%
VALT-U.TO CI Gold Bullion ETF (US$ Series)	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VALT-U.TO and CCOM.TO in my portfolio?

VALT-U.TO and CCOM.TO have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between VALT-U.TO and CCOM.TO?

VALT-U.TO is categorized as Gold, while CCOM.TO is Commodities.