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

VXM-B.TO vs. CMNY.TO

Last updated Apr 2, 2026

Compare and contrast key facts about CI Morningstar International Value Index ETF (Unhedged) (VXM-B.TO) and CI Money Market ETF CAD Series (CMNY.TO).

VXM-B.TO and CMNY.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VXM-B.TO is a passively managed fund by CI that tracks the performance of the Morningstar Developed Markets ex-North America Target Value Index. It was launched on Nov 13, 2014. CMNY.TO is an actively managed fund by CI. It was launched on Jul 25, 2023.

Performance

VXM-B.TO vs. CMNY.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 Money Market ETF CAD Series (CMNY.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)202520242023
VXM-B.TO
CI Morningstar International Value Index ETF (Unhedged)		8.77%46.74%18.25%4.84%
CMNY.TO
CI Money Market ETF CAD Series		0.58%2.83%4.77%2.14%

Returns By Period

In the year-to-date period, VXM-B.TO achieves a 8.77% return, which is significantly higher than CMNY.TO's 0.58% return.

VXM-B.TO

1D
1.12%
1M
-2.63%
YTD
8.77%
6M
13.78%
1Y
41.10%
3Y*
27.79%
5Y*
17.32%
10Y*
12.27%

CMNY.TO

1D
0.01%
1M
0.20%
YTD
0.58%
6M
1.17%
1Y
2.61%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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 Money Market ETF CAD Series

Often compared with VXM-B.TO:
VXM-B.TO vs. CCOM.TOVXM-B.TO vs. CIC.TOVXM-B.TO vs. CGXF.TOVXM-B.TO vs. CEQT.TOVXM-B.TO vs. ZXM.TO
Often compared with CMNY.TO:
CMNY.TO vs. CCOM.TOCMNY.TO vs. CIC.TOCMNY.TO vs. HISA.NEOCMNY.TO vs. HSUV-U.TOCMNY.TO vs. CGXF.TOCMNY.TO vs. MNY.TOCMNY.TO vs. PSA.TO

VXM-B.TO vs. CMNY.TO - Expense Ratio Comparison

VXM-B.TO has a 0.66% expense ratio, which is higher than CMNY.TO's 0.16% expense ratio.

VXM-B.TO
CI Morningstar International Value Index ETF (Unhedged)
CMNY.TO
CI Money Market ETF CAD Series

Return for Risk

VXM-B.TO vs. CMNY.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: 9595
Overall Rank
VXM-B.TO Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
VXM-B.TO Sortino Ratio Rank: 9696
Sortino Ratio Rank
VXM-B.TO Omega Ratio Rank: 9696
Omega Ratio Rank
VXM-B.TO Calmar Ratio Rank: 9393
Calmar Ratio Rank
VXM-B.TO Martin Ratio Rank: 9595
Martin Ratio Rank
CMNY.TO
CMNY.TO Risk / Return Rank: 9999
Overall Rank
CMNY.TO Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
CMNY.TO Sortino Ratio Rank: 9999
Sortino Ratio Rank
CMNY.TO Omega Ratio Rank: 9999
Omega Ratio Rank
CMNY.TO Calmar Ratio Rank: 100100
Calmar Ratio Rank
CMNY.TO Martin Ratio Rank: 9999
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. CMNY.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 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.

VXM-B.TOCMNY.TODifference

Sharpe ratio

Return per unit of total volatility

2.62

6.89

-4.27

Sortino ratio

Return per unit of downside risk

3.32

15.61

-12.29

Omega ratio

Gain probability vs. loss probability

1.51

3.36

-1.85

Calmar ratio

Return relative to maximum drawdown

3.95

43.53

-39.58

Martin ratio

Return relative to average drawdown

17.75

175.90

-158.15

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current VXM-B.TO Sharpe Ratio is 2.62, which is lower than the CMNY.TO Sharpe Ratio of 6.89. The chart below compares the historical Sharpe Ratios of VXM-B.TO and CMNY.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

VXM-B.TOCMNY.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.62

6.89

-4.27

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.77

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.98

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.88

3.72

-2.84

Correlation

The correlation between VXM-B.TO and CMNY.TO is -0.04. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

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

VXM-B.TO's dividend yield for the trailing twelve months is around 2.35%, less than CMNY.TO's 2.64% yield.

TTM20252024202320222021202020192018201720162015
VXM-B.TO
CI Morningstar International Value Index ETF (Unhedged)		2.35%2.21%3.97%3.66%3.67%2.05%2.18%1.59%6.77%1.52%1.92%2.16%
CMNY.TO
CI Money Market ETF CAD Series		2.64%2.89%4.64%2.02%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

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

The maximum VXM-B.TO drawdown since its inception was -35.51%, which is greater than CMNY.TO's maximum drawdown of -0.83%. Use the drawdown chart below to compare losses from any high point for VXM-B.TO and CMNY.TO.

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Drawdown Indicators

VXM-B.TOCMNY.TODifference

Max Drawdown

Largest peak-to-trough decline

-35.51%

-0.83%

-34.68%

Max Drawdown (1Y)

Largest decline over 1 year

-10.87%

-0.06%

-10.81%

Max Drawdown (5Y)

Largest decline over 5 years

-22.12%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-35.51%

—

—

Current Drawdown

Current decline from peak

-3.97%

-0.01%

-3.96%

Average Drawdown

Average peak-to-trough decline

-5.99%

-0.05%

-5.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.96%

0.01%

+2.95%

Volatility

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

CI Morningstar International Value Index ETF (Unhedged) (VXM-B.TO) has a higher volatility of 6.52% compared to CI Money Market ETF CAD Series (CMNY.TO) at 0.09%. This indicates that VXM-B.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

VXM-B.TOCMNY.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.52%

0.09%

+6.43%

Volatility (6M)

Calculated over the trailing 6-month period

10.26%

0.25%

+10.01%

Volatility (1Y)

Calculated over the trailing 1-year period

17.28%

0.38%

+16.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.16%

1.05%

+17.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.93%

1.05%

+17.88%