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

VXM-B.TO vs. ONEB.TO

Last updated Jul 18, 2026
Documentation

VXM-B.TO (CI Morningstar International Value Index ETF (Unhedged)) and ONEB.TO (CI North American Core Plus Bond ETF) 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 ONEB.TO is a Intermediate Core-Plus Bond fund actively managed by CI. VXM-B.TO is passively managed, while ONEB.TO is actively managed. Over the past 5 years, VXM-B.TO returned 17.68%/yr vs 1.71%/yr for ONEB.TO. At a 0.08 correlation, their price movements are largely independent.

Performance

VXM-B.TO vs. ONEB.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 North American Core Plus Bond ETF (ONEB.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 11.11% return, which is significantly higher than ONEB.TO's 0.92% return.

VXM-B.TO

1D
-0.29%
1M
-0.49%
6M
6.23%
YTD
11.11%
1Y
29.13%
3Y*
26.57%
5Y*
17.68%
10Y*
11.77%

ONEB.TO

1D
-0.06%
1M
-0.29%
6M
0.57%
YTD
0.92%
1Y
3.12%
3Y*
4.24%
5Y*
1.71%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021202020192018
VXM-B.TO
CI Morningstar International Value Index ETF (Unhedged)		11.11%46.74%18.34%18.89%-2.50%9.58%-10.23%9.77%-6.10%
ONEB.TO
CI North American Core Plus Bond ETF		0.92%2.57%5.27%5.08%-4.32%-2.01%5.25%3.89%0.76%

Correlation

The correlation between VXM-B.TO and ONEB.TO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.30

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

0.16

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

0.14

Correlation (All Time)
Calculated using the full available price history since Oct 17, 2018

0.08

Over the past year, VXM-B.TO and ONEB.TO have become more correlated (0.30) than their long-term average of 0.08, meaning their price movements have been converging.

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CI Morningstar International Value Index ETF (Unhedged)

CI North American Core Plus Bond ETF

Often compared with VXM-B.TO:
VXM-B.TO vs. CMNY.TOVXM-B.TO vs. CGXF.TOVXM-B.TO vs. CEQT.TOVXM-B.TO vs. CCOM.TOVXM-B.TO vs. NXF.TOVXM-B.TO vs. CIC.TOVXM-B.TO vs. CBCX.TO
Often compared with ONEB.TO:
ONEB.TO vs. CEQP.TOONEB.TO vs. CMNY.TOONEB.TO vs. EHE.TOONEB.TO vs. CIC.TOONEB.TO vs. CBCX.TOONEB.TO vs. CCOM.TOONEB.TO vs. CGXF.TO

Return for Risk

VXM-B.TO vs. ONEB.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: 8080
Overall Rank
VXM-B.TO Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
VXM-B.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
VXM-B.TO Omega Ratio Rank: 8484
Omega Ratio Rank
VXM-B.TO Calmar Ratio Rank: 7373
Calmar Ratio Rank
VXM-B.TO Martin Ratio Rank: 7373
Martin Ratio Rank
ONEB.TO
ONEB.TO Risk / Return Rank: 4040
Overall Rank
ONEB.TO Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
ONEB.TO Sortino Ratio Rank: 3737
Sortino Ratio Rank
ONEB.TO Omega Ratio Rank: 4040
Omega Ratio Rank
ONEB.TO Calmar Ratio Rank: 4545
Calmar Ratio Rank
ONEB.TO Martin Ratio Rank: 3838
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. ONEB.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 North American Core Plus Bond ETF (ONEB.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.TOONEB.TODifference
Sharpe ratioReturn per unit of total volatility
2.16
1.11

+1.05

Sortino ratioReturn per unit of downside risk
2.97
1.53

+1.44

Omega ratioGain probability vs. loss probability

1.39

1.21

+0.19

Calmar ratioReturn relative to maximum drawdown

2.83

1.75

+1.08

Martin ratioReturn relative to average drawdown

10.18

4.45

+5.72

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

The current VXM-B.TO Sharpe Ratio is 2.16, which is higher than the ONEB.TO Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of VXM-B.TO and ONEB.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. ONEB.TO - Drawdown Comparison

The maximum VXM-B.TO drawdown since its inception was -38.71%, which is greater than ONEB.TO's maximum drawdown of -11.25%. Use the drawdown chart below to compare losses from any high point for VXM-B.TO and ONEB.TO.

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Drawdown Indicators

VXM-B.TOONEB.TODifference

Max Drawdown

Largest peak-to-trough decline

-38.71%

-11.25%

-27.46%

Max Drawdown (1Y)

Largest decline over 1 year

-10.33%

-1.79%

-8.54%

Max Drawdown (3Y)

Largest decline over 3 years

-13.31%

-1.79%

-11.52%

Max Drawdown (5Y)

Largest decline over 5 years

-22.12%

-7.60%

-14.52%

Max Drawdown (10Y)

Largest decline over 10 years

-38.71%

—

—

Current Drawdown

Current decline from peak

-1.90%

-0.59%

-1.31%

Average Drawdown

Average peak-to-trough decline

-7.76%

-2.02%

-5.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.87%

0.70%

+2.17%

Volatility

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

CI Morningstar International Value Index ETF (Unhedged) (VXM-B.TO) has a higher volatility of 3.79% compared to CI North American Core Plus Bond ETF (ONEB.TO) at 0.93%. This indicates that VXM-B.TO's price experiences larger fluctuations and is considered to be riskier than ONEB.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.TOONEB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.79%

0.93%

+2.86%

Volatility (6M)

Calculated over the trailing 6-month period

11.20%

2.17%

+9.03%

Volatility (1Y)

Calculated over the trailing 1-year period

13.59%

2.83%

+10.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.77%

3.46%

+10.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.11%

5.42%

+9.69%

Dividends

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

VXM-B.TO's dividend yield for the trailing twelve months is around 1.97%, less than ONEB.TO's 2.95% yield.

PositionTTM20252024202320222021202020192018201720162015
ONEB.TO
CI North American Core Plus Bond ETF		2.95%2.48%2.73%2.74%2.72%1.89%2.60%2.14%0.18%0.00%0.00%0.00%
VXM-B.TO
CI Morningstar International Value Index ETF (Unhedged)		1.97%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 ONEB.TO have a correlation of 0.30, 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 ONEB.TO is Intermediate Core-Plus Bond.

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