VEE.TO vs. CMR.TO
VEE.TO (Vanguard FTSE Emerging Markets All Cap Index ETF) and CMR.TO (iShares Premium Money Market ETF) are both exchange-traded funds - VEE.TO is a Emerging Markets Equities fund tracking the FTSE Emerging Markets All Cap China A Inclusion Index, while CMR.TO is a Money Market fund actively managed by iShares. VEE.TO is passively managed, while CMR.TO is actively managed. Over the past 10 years, VEE.TO returned 9.01%/yr vs 1.89%/yr for CMR.TO. At a correlation of -0.01, they often move in opposite directions. VEE.TO charges 0.25%/yr vs 0.14%/yr for CMR.TO.
Performance
VEE.TO vs. CMR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, VEE.TO achieves a 13.54% return, which is significantly higher than CMR.TO's 0.97% return. Over the past 10 years, VEE.TO has outperformed CMR.TO with an annualized return of 9.01%, while CMR.TO has yielded a comparatively lower 1.89% annualized return.
VEE.TO
- 1D
- -0.90%
- 1M
- 4.93%
- YTD
- 13.54%
- 6M
- 12.96%
- 1Y
- 31.71%
- 3Y*
- 18.62%
- 5Y*
- 7.50%
- 10Y*
- 9.01%
CMR.TO
- 1D
- 0.00%
- 1M
- 0.19%
- YTD
- 0.97%
- 6M
- 1.05%
- 1Y
- 2.37%
- 3Y*
- 3.73%
- 5Y*
- 2.94%
- 10Y*
- 1.89%
VEE.TO vs. CMR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEE.TO Vanguard FTSE Emerging Markets All Cap Index ETF | 13.54% | 19.32% | 19.06% | 6.24% | -12.78% | 0.05% | 12.32% | 14.33% | -7.95% | 22.55% |
CMR.TO iShares Premium Money Market ETF | 0.97% | 2.68% | 4.70% | 4.70% | 1.71% | 0.00% | 0.47% | 1.63% | 1.29% | 0.63% |
Correlation
The correlation between VEE.TO and CMR.TO is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2011 | -0.01 |
The correlation between VEE.TO and CMR.TO shifts across timeframes, from -0.12 (1 year) to 0.02 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VEE.TO vs. CMR.TO — Risk / Return Rank
VEE.TO
CMR.TO
VEE.TO vs. CMR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.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.
| VEE.TO | CMR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.53 | ||
| Sortino ratioReturn per unit of downside risk | -18.22 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 9.57 | -8.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.97 | 25.44 | -22.47 |
| Martin ratioReturn relative to average drawdown | 10.74 | 187.33 | -176.58 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VEE.TO | CMR.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 10.61 | -8.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 10.67 | -10.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 7.02 | -6.48 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 3.84 | -3.40 |
Drawdowns
VEE.TO vs. CMR.TO - Drawdown Comparison
The maximum VEE.TO drawdown since its inception was -29.84%, 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 VEE.TO and CMR.TO.
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Drawdown Indicators
| VEE.TO | CMR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.84% | -0.52% | -29.32% |
Max Drawdown (1Y)Largest decline over 1 year | -10.74% | -0.09% | -10.65% |
Max Drawdown (3Y)Largest decline over 3 years | -14.97% | -0.09% | -14.88% |
Max Drawdown (5Y)Largest decline over 5 years | -26.10% | -0.09% | -26.01% |
Max Drawdown (10Y)Largest decline over 10 years | -29.84% | -0.14% | -29.70% |
Current DrawdownCurrent decline from peak | -0.90% | -0.02% | -0.88% |
Average DrawdownAverage peak-to-trough decline | -8.73% | -0.01% | -8.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 0.01% | +2.95% |
Volatility
VEE.TO vs. CMR.TO - Volatility Comparison
Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) has a higher volatility of 6.04% compared to iShares Premium Money Market ETF (CMR.TO) at 0.05%. This indicates that VEE.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.
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Volatility by Period
| VEE.TO | CMR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.04% | 0.05% | +5.99% |
Volatility (6M)Calculated over the trailing 6-month period | 12.86% | 0.18% | +12.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.31% | 0.22% | +15.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.29% | 0.28% | +15.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.97% | 0.27% | +16.70% |
VEE.TO vs. CMR.TO - Expense Ratio Comparison
VEE.TO has a 0.25% expense ratio, which is higher than CMR.TO's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VEE.TO vs. CMR.TO - Dividend Comparison
VEE.TO's dividend yield for the trailing twelve months is around 1.91%, less than CMR.TO's 2.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMR.TO iShares Premium Money Market ETF | 2.48% | 2.81% | 4.56% | 4.64% | 1.62% | 0.00% | 0.47% | 1.60% | 1.33% | 0.61% | 0.43% | 0.48% |
VEE.TO Vanguard FTSE Emerging Markets All Cap Index ETF | 1.91% | 2.26% | 2.45% | 2.83% | 3.35% | 2.18% | 1.61% | 2.71% | 2.21% | 1.89% | 1.99% | 2.53% |
Frequently Asked Questions
VEE.TO and CMR.TO have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMR.TO is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMR.TO is cheaper with a 0.14% expense ratio, compared with 0.25% for VEE.TO.
VEE.TO is categorized as Emerging Markets Equities, while CMR.TO is Money Market. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.25% for VEE.TO and 0.14% for CMR.TO.
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