WXM.TO vs. CDLB.TO
WXM.TO (CI Morningstar Canada Momentum Index ETF) and CDLB.TO (CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series) are both exchange-traded funds - WXM.TO is a Momentum fund tracking the Morningstar Canada Target Momentum Index, while CDLB.TO is a Intermediate Core-Plus Bond fund actively managed by CI Global Asset Management. WXM.TO is passively managed, while CDLB.TO is actively managed. Over the past 5 years, WXM.TO returned 18.57%/yr vs -0.60%/yr for CDLB.TO. At a 0.03 correlation, their price movements are largely independent. WXM.TO charges 0.65%/yr vs 0.85%/yr for CDLB.TO.
Performance
WXM.TO vs. CDLB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, WXM.TO achieves a 18.83% return, which is significantly higher than CDLB.TO's -0.54% return.
WXM.TO
- 1D
- -0.33%
- 1M
- 4.70%
- YTD
- 18.83%
- 6M
- 22.68%
- 1Y
- 46.31%
- 3Y*
- 29.82%
- 5Y*
- 18.57%
- 10Y*
- 15.24%
CDLB.TO
- 1D
- 0.31%
- 1M
- 0.19%
- YTD
- -0.54%
- 6M
- -0.14%
- 1Y
- 3.58%
- 3Y*
- 3.08%
- 5Y*
- -0.60%
- 10Y*
- —
WXM.TO vs. CDLB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
WXM.TO CI Morningstar Canada Momentum Index ETF | 18.83% | 38.16% | 33.93% | 3.35% | -0.42% | 20.98% | 17.51% |
CDLB.TO CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series | -0.54% | 5.44% | 2.59% | 2.12% | -12.02% | -0.11% | 3.68% |
Correlation
The correlation between WXM.TO and CDLB.TO is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since May 11, 2020 | 0.03 |
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Return for Risk
WXM.TO vs. CDLB.TO — Risk / Return Rank
WXM.TO
CDLB.TO
WXM.TO vs. CDLB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Morningstar Canada Momentum Index ETF (WXM.TO) and CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series (CDLB.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.
| WXM.TO | CDLB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.11 | ||
| Sortino ratioReturn per unit of downside risk | +2.51 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.40 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 4.90 | 1.70 | +3.20 |
| Martin ratioReturn relative to average drawdown | 21.82 | 4.08 | +17.75 |
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
| WXM.TO | CDLB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.10 | 0.99 | +2.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.18 | -0.12 | +1.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.91 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.91 | 0.00 | +0.91 |
Drawdowns
WXM.TO vs. CDLB.TO - Drawdown Comparison
The maximum WXM.TO drawdown since its inception was -40.45%, which is greater than CDLB.TO's maximum drawdown of -17.06%. Use the drawdown chart below to compare losses from any high point for WXM.TO and CDLB.TO.
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Drawdown Indicators
| WXM.TO | CDLB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.45% | -17.06% | -23.39% |
Max Drawdown (1Y)Largest decline over 1 year | -9.49% | -2.11% | -7.38% |
Max Drawdown (3Y)Largest decline over 3 years | -12.13% | -5.63% | -6.50% |
Max Drawdown (5Y)Largest decline over 5 years | -15.87% | -17.06% | +1.19% |
Max Drawdown (10Y)Largest decline over 10 years | -40.45% | — | — |
Current DrawdownCurrent decline from peak | -0.33% | -3.97% | +3.64% |
Average DrawdownAverage peak-to-trough decline | -4.48% | -6.60% | +2.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.13% | 0.88% | +1.25% |
Volatility
WXM.TO vs. CDLB.TO - Volatility Comparison
CI Morningstar Canada Momentum Index ETF (WXM.TO) has a higher volatility of 4.06% compared to CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series (CDLB.TO) at 1.10%. This indicates that WXM.TO's price experiences larger fluctuations and is considered to be riskier than CDLB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WXM.TO | CDLB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.06% | 1.10% | +2.96% |
Volatility (6M)Calculated over the trailing 6-month period | 11.86% | 2.32% | +9.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.02% | 3.64% | +11.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.85% | 5.25% | +10.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.78% | 4.85% | +11.93% |
WXM.TO vs. CDLB.TO - Expense Ratio Comparison
WXM.TO has a 0.65% expense ratio, which is lower than CDLB.TO's 0.85% expense ratio.
Dividends
WXM.TO vs. CDLB.TO - Dividend Comparison
WXM.TO's dividend yield for the trailing twelve months is around 1.15%, less than CDLB.TO's 4.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CDLB.TO CI DoubleLine Total Return Bond US$ Fund ETF C$ Hedged Series | 4.69% | 4.45% | 4.35% | 3.60% | 2.81% | 2.38% | 1.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WXM.TO CI Morningstar Canada Momentum Index ETF | 1.15% | 1.25% | 1.27% | 1.38% | 2.25% | 1.04% | 0.78% | 0.94% | 1.44% | 1.38% | 1.58% | 1.51% |
Frequently Asked Questions
WXM.TO and CDLB.TO have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WXM.TO is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WXM.TO is cheaper with a 0.65% expense ratio, compared with 0.85% for CDLB.TO.
WXM.TO is categorized as Momentum, while CDLB.TO is Intermediate Core-Plus Bond. Their fees differ too: 0.65% for WXM.TO and 0.85% for CDLB.TO.
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