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VALT-U.TO vs. CIC.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VALT-U.TO vs. CIC.TO

Last updated Jul 1, 2026
See Documentation

VALT-U.TO (CI Gold Bullion ETF (US$ Series)) and CIC.TO (CI Canadian Banks Covered Call Income Class ETF) are both exchange-traded funds - VALT-U.TO is a Gold fund actively managed by CI, while CIC.TO is a Financials Equities fund actively managed by CI. Both are actively managed. Over the past 5 years, VALT-U.TO returned 17.66%/yr vs 13.25%/yr for CIC.TO. At a 0.13 correlation, their price movements are largely independent.

Performance

VALT-U.TO vs. CIC.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 Canadian Banks Covered Call Income Class ETF (CIC.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

VALT-U.TO is traded in USD, while CIC.TO is traded in CAD. To make them comparable, the CIC.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 CIC.TO's 21.53% 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*
—

CIC.TO

1D
0.50%
1M
6.05%
YTD
21.53%
6M
21.00%
1Y
51.95%
3Y*
26.56%
5Y*
13.25%
10Y*
12.86%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021
VALT-U.TO
CI Gold Bullion ETF (US$ Series)		-6.39%65.42%26.27%13.43%-0.93%-1.30%
CIC.TO
CI Canadian Banks Covered Call Income Class ETF		21.53%41.79%11.83%9.17%-16.30%29.75%

Correlation

The correlation between VALT-U.TO and CIC.TO is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.21

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

0.17

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

0.15

Correlation (All Time)
Calculated using the full available price history since Jan 14, 2021

0.13

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

CI Gold Bullion ETF (US$ Series)

CI Canadian Banks Covered Call Income Class ETF

Often compared with CIC.TO:
CIC.TO vs. HEB.TOCIC.TO vs. FMAX.TOCIC.TO vs. CCOM.TOCIC.TO vs. ZEB.TOCIC.TO vs. CMNY.TOCIC.TO vs. ZWB.TOCIC.TO vs. VXM-B.TO

Return for Risk

VALT-U.TO vs. CIC.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: 2121
Overall Rank
VALT-U.TO Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
VALT-U.TO Sortino Ratio Rank: 2121
Sortino Ratio Rank
VALT-U.TO Omega Ratio Rank: 3131
Omega Ratio Rank
VALT-U.TO Calmar Ratio Rank: 1717
Calmar Ratio Rank
VALT-U.TO Martin Ratio Rank: 1717
Martin Ratio Rank
CIC.TO
CIC.TO Risk / Return Rank: 9797
Overall Rank
CIC.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
CIC.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
CIC.TO Omega Ratio Rank: 9898
Omega Ratio Rank
CIC.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
CIC.TO Martin Ratio Rank: 9797
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.

VALT-U.TO vs. CIC.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 Canadian Banks Covered Call Income Class ETF (CIC.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.TOCIC.TODifference
Sharpe ratioReturn per unit of total volatility
0.56
4.33

-3.77

Sortino ratioReturn per unit of downside risk
1.05
5.86

-4.81

Omega ratioGain probability vs. loss probability

1.19

1.80

-0.61

Calmar ratioReturn relative to maximum drawdown

0.60

5.98

-5.38

Martin ratioReturn relative to average drawdown

1.61

26.27

-24.66

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

The current VALT-U.TO Sharpe Ratio is 0.56, which is lower than the CIC.TO Sharpe Ratio of 4.33. The chart below compares the historical Sharpe Ratios of VALT-U.TO and CIC.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

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

The maximum VALT-U.TO drawdown since its inception was -38.65%, smaller than the maximum CIC.TO drawdown of -44.67%. Use the drawdown chart below to compare losses from any high point for VALT-U.TO and CIC.TO.

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Drawdown Indicators

VALT-U.TOCIC.TODifference

Max Drawdown

Largest peak-to-trough decline

-38.65%

-44.67%

+6.02%

Max Drawdown (1Y)

Largest decline over 1 year

-38.65%

-8.73%

-29.92%

Max Drawdown (3Y)

Largest decline over 3 years

-38.65%

-17.91%

-20.74%

Max Drawdown (5Y)

Largest decline over 5 years

-38.65%

-32.46%

-6.19%

Max Drawdown (10Y)

Largest decline over 10 years

—

-44.67%

—

Current Drawdown

Current decline from peak

-37.72%

0.00%

-37.72%

Average Drawdown

Average peak-to-trough decline

-6.11%

-9.11%

+3.00%

Ulcer Index

Depth and duration of drawdowns from previous peaks

14.30%

1.98%

+12.32%

Volatility

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

CI Gold Bullion ETF (US$ Series) (VALT-U.TO) has a higher volatility of 8.30% compared to CI Canadian Banks Covered Call Income Class ETF (CIC.TO) at 2.48%. This indicates that VALT-U.TO's price experiences larger fluctuations and is considered to be riskier than CIC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VALT-U.TOCIC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

8.30%

2.48%

+5.82%

Volatility (6M)

Calculated over the trailing 6-month period

39.00%

10.27%

+28.73%

Volatility (1Y)

Calculated over the trailing 1-year period

41.49%

12.05%

+29.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.08%

14.52%

+8.56%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.39%

17.71%

+4.68%

Dividends

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

VALT-U.TO has not paid dividends to shareholders, while CIC.TO's dividend yield for the trailing twelve months is around 4.94%.

PositionTTM20252024202320222021202020192018201720162015
CIC.TO
CI Canadian Banks Covered Call Income Class ETF		4.94%5.17%6.71%7.37%7.64%5.48%9.56%6.16%6.61%5.68%6.72%7.31%
VALT-U.TO
CI Gold Bullion ETF (US$ Series)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

VALT-U.TO and CIC.TO have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VALT-U.TO is categorized as Gold, while CIC.TO is Financials Equities.

Portfolio Optimizer

Find the right allocation for VALT-U.TO and CIC.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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