VALT-U.TO vs. CMNY.TO
VALT-U.TO (CI Gold Bullion ETF (US$ Series)) and CMNY.TO (CI Money Market ETF CAD Series) are both exchange-traded funds - VALT-U.TO is a Gold fund actively managed by CI, while CMNY.TO is a Money Market fund actively managed by CI. Both are actively managed. Over the past year, VALT-U.TO returned 22.84% vs -1.36% for CMNY.TO. At a 0.16 correlation, their price movements are largely independent.
Performance
VALT-U.TO vs. CMNY.TO - Performance Comparison
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Different Trading Currencies
VALT-U.TO is traded in USD, while CMNY.TO is traded in CAD. To make them comparable, the CMNY.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 CMNY.TO's -2.49% 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*
- —
CMNY.TO
- 1D
- -0.14%
- 1M
- -2.80%
- YTD
- -2.49%
- 6M
- -2.54%
- 1Y
- -1.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VALT-U.TO vs. CMNY.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VALT-U.TO CI Gold Bullion ETF (US$ Series) | -6.39% | 65.42% | 26.27% | 6.60% |
CMNY.TO CI Money Market ETF CAD Series | -2.49% | 7.75% | -3.41% | 3.09% |
Correlation
The correlation between VALT-U.TO and CMNY.TO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Aug 8, 2023 | 0.16 |
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Return for Risk
VALT-U.TO vs. CMNY.TO — Risk / Return Rank
VALT-U.TO
CMNY.TO
VALT-U.TO vs. CMNY.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 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.
| VALT-U.TO | CMNY.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.95 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.60 | -0.31 | +0.92 |
| Martin ratioReturn relative to average drawdown | 1.61 | -0.80 | +2.41 |
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Drawdowns
VALT-U.TO vs. CMNY.TO - Drawdown Comparison
The maximum VALT-U.TO drawdown since its inception was -38.65%, which is greater than CMNY.TO's maximum drawdown of -7.39%. Use the drawdown chart below to compare losses from any high point for VALT-U.TO and CMNY.TO.
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Drawdown Indicators
| VALT-U.TO | CMNY.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.65% | -7.39% | -31.26% |
Max Drawdown (1Y)Largest decline over 1 year | -38.65% | -4.34% | -34.31% |
Max Drawdown (3Y)Largest decline over 3 years | -38.65% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -38.65% | — | — |
Current DrawdownCurrent decline from peak | -37.72% | -4.13% | -33.59% |
Average DrawdownAverage peak-to-trough decline | -6.11% | -1.80% | -4.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.30% | 1.70% | +12.60% |
Volatility
VALT-U.TO vs. CMNY.TO - Volatility Comparison
CI Gold Bullion ETF (US$ Series) (VALT-U.TO) has a higher volatility of 8.30% compared to CI Money Market ETF CAD Series (CMNY.TO) at 0.98%. This indicates that VALT-U.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.
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Volatility by Period
| VALT-U.TO | CMNY.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.30% | 0.98% | +7.32% |
Volatility (6M)Calculated over the trailing 6-month period | 39.00% | 3.24% | +35.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.49% | 4.34% | +37.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.08% | 5.40% | +17.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.39% | 5.40% | +16.99% |
Dividends
VALT-U.TO vs. CMNY.TO - Dividend Comparison
VALT-U.TO has not paid dividends to shareholders, while CMNY.TO's dividend yield for the trailing twelve months is around 2.49%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CMNY.TO CI Money Market ETF CAD Series | 2.49% | 2.89% | 4.64% | 2.02% |
VALT-U.TO CI Gold Bullion ETF (US$ Series) | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VALT-U.TO and CMNY.TO have a correlation of 0.14, 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 CMNY.TO is Money Market.
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