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

VXM-B.TO vs. CGRA.TO

Last updated Jul 1, 2026
See Documentation

VXM-B.TO (CI Morningstar International Value Index ETF (Unhedged)) and CGRA.TO (CI Global Real Asset Private Pool) are both exchange-traded funds - VXM-B.TO is a Foreign Small & Mid Cap Equities fund tracking the Morningstar Developed Markets ex-North America Target Value Index, while CGRA.TO is a Global Allocation fund actively managed by CI. VXM-B.TO is passively managed, while CGRA.TO is actively managed. Over the past 5 years, VXM-B.TO returned 17.52%/yr vs 7.84%/yr for CGRA.TO. At a 0.11 correlation, their price movements are largely independent.

Performance

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

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Morningstar International Value Index ETF (Unhedged) (VXM-B.TO) and CI Global Real Asset Private Pool (CGRA.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VXM-B.TO achieves a 8.67% return, which is significantly lower than CGRA.TO's 15.15% return.

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%

CGRA.TO

1D
0.00%
1M
3.45%
YTD
15.15%
6M
15.15%
1Y
17.05%
3Y*
13.99%
5Y*
7.84%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020
VXM-B.TO
CI Morningstar International Value Index ETF (Unhedged)		8.67%46.74%18.34%18.89%-2.50%9.58%19.01%
CGRA.TO
CI Global Real Asset Private Pool		15.15%7.16%10.58%6.33%-9.03%20.00%6.05%

Correlation

The correlation between VXM-B.TO and CGRA.TO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.13

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

0.12

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

0.13

Correlation (All Time)
Calculated using the full available price history since May 21, 2020

0.11

Compare stocks, funds, or ETFs

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

CI Morningstar International Value Index ETF (Unhedged)

CI Global Real Asset Private Pool

Often compared with VXM-B.TO:
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

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
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
CGRA.TO
CGRA.TO Risk / Return Rank: 7676
Overall Rank
CGRA.TO Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
CGRA.TO Sortino Ratio Rank: 8383
Sortino Ratio Rank
CGRA.TO Omega Ratio Rank: 9696
Omega Ratio Rank
CGRA.TO Calmar Ratio Rank: 6363
Calmar Ratio Rank
CGRA.TO Martin Ratio Rank: 6464
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.

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

This table presents a comparison of risk-adjusted performance metrics for CI Morningstar International Value Index ETF (Unhedged) (VXM-B.TO) and CI Global Real Asset Private Pool (CGRA.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.

VXM-B.TOCGRA.TODifference
Sharpe ratioReturn per unit of total volatility
2.14
2.04

+0.10

Sortino ratioReturn per unit of downside risk
2.91
3.19

-0.27

Omega ratioGain probability vs. loss probability

1.38

1.70

-0.31

Calmar ratioReturn relative to maximum drawdown

2.76

2.68

+0.09

Martin ratioReturn relative to average drawdown

9.99

9.91

+0.08

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

The current VXM-B.TO Sharpe Ratio is 2.14, which is comparable to the CGRA.TO Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of VXM-B.TO and CGRA.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

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

The maximum VXM-B.TO drawdown since its inception was -38.71%, which is greater than CGRA.TO's maximum drawdown of -16.03%. Use the drawdown chart below to compare losses from any high point for VXM-B.TO and CGRA.TO.

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Drawdown Indicators

VXM-B.TOCGRA.TODifference

Max Drawdown

Largest peak-to-trough decline

-38.71%

-16.03%

-22.68%

Max Drawdown (1Y)

Largest decline over 1 year

-10.33%

-6.43%

-3.90%

Max Drawdown (3Y)

Largest decline over 3 years

-13.31%

-7.89%

-5.42%

Max Drawdown (5Y)

Largest decline over 5 years

-22.12%

-16.03%

-6.09%

Max Drawdown (10Y)

Largest decline over 10 years

-38.71%

—

—

Current Drawdown

Current decline from peak

-4.06%

0.00%

-4.06%

Average Drawdown

Average peak-to-trough decline

-7.79%

-3.83%

-3.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.85%

1.73%

+1.12%

Volatility

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

CI Morningstar International Value Index ETF (Unhedged) (VXM-B.TO) has a higher volatility of 3.76% compared to CI Global Real Asset Private Pool (CGRA.TO) at 2.67%. This indicates that VXM-B.TO's price experiences larger fluctuations and is considered to be riskier than CGRA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VXM-B.TOCGRA.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.76%

2.67%

+1.09%

Volatility (6M)

Calculated over the trailing 6-month period

10.89%

7.14%

+3.75%

Volatility (1Y)

Calculated over the trailing 1-year period

13.37%

8.43%

+4.94%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.75%

12.12%

+1.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.15%

11.68%

+3.47%

Dividends

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

VXM-B.TO's dividend yield for the trailing twelve months is around 2.01%, less than CGRA.TO's 3.56% yield.

PositionTTM20252024202320222021202020192018201720162015
CGRA.TO
CI Global Real Asset Private Pool		3.56%4.02%4.14%4.39%4.46%3.89%2.61%0.00%0.00%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

VXM-B.TO and CGRA.TO have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VXM-B.TO is categorized as Foreign Small & Mid Cap Equities, while CGRA.TO is Global Allocation.

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