WXM.TO vs. CSAV.TO
WXM.TO (CI Morningstar Canada Momentum Index ETF) and CSAV.TO (CI High Interest Savings ETF) are both exchange-traded funds - WXM.TO is a Momentum fund tracking the Morningstar Canada Target Momentum Index, while CSAV.TO is a Money Market fund actively managed by CI. WXM.TO is passively managed, while CSAV.TO is actively managed. Over the past 5 years, WXM.TO returned 17.32%/yr vs 3.13%/yr for CSAV.TO. Their 0.04 correlation means their historical movements had little consistent relationship. WXM.TO charges 0.65%/yr vs 0.15%/yr for CSAV.TO.
Performance
WXM.TO vs. CSAV.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, WXM.TO achieves a 13.16% return, which is significantly higher than CSAV.TO's 1.18% return.
WXM.TO
- 1D
- -0.36%
- 1M
- -3.40%
- 6M
- 9.24%
- YTD
- 13.16%
- 1Y
- 35.28%
- 3Y*
- 26.75%
- 5Y*
- 17.32%
- 10Y*
- 14.31%
- ALL TIME*
- 13.36%
CSAV.TO
- 1D
- 0.02%
- 1M
- 0.15%
- 6M
- 1.01%
- YTD
- 1.18%
- 1Y
- 2.17%
- 3Y*
- 3.44%
- 5Y*
- 3.13%
- 10Y*
- —
- ALL TIME*
- 2.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
CSAV.TO CI High Interest Savings ETF | CA$1.49M | CA$1.26M | CA$1.48M |
| CA$2.85M | CA$1.77M | CA$1.16M |
WXM.TO vs. CSAV.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
WXM.TO CI Morningstar Canada Momentum Index ETF | 13.16% | 38.16% | 33.93% | 3.35% | -0.42% | 20.98% | 4.61% | 8.71% |
CSAV.TO CI High Interest Savings ETF | 1.18% | 2.54% | 4.43% | 5.04% | 2.29% | 0.55% | 0.92% | 1.14% |
Correlation
The correlation between WXM.TO and CSAV.TO is 0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.03 |
Correlation (3Y) Balances recent behavior with more history. | 0.05 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2019 | 0.04 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
WXM.TO vs. CSAV.TO — Risk / Return Rank
WXM.TO
CSAV.TO
WXM.TO vs. CSAV.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 High Interest Savings ETF (CSAV.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.
| WXM.TO | CSAV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.45 | ||
| Sortino ratioReturn per unit of downside risk | -16.85 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 4.54 | -3.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.75 | 108.77 | -105.02 |
| Martin ratioReturn relative to average drawdown | 14.01 | 301.45 | -287.44 |
Loading charts...
Drawdowns
WXM.TO vs. CSAV.TO - Drawdown Comparison
The maximum WXM.TO drawdown since its inception was -40.45%, which is greater than CSAV.TO's maximum drawdown of -0.02%. Use the drawdown chart below to compare losses from any high point for WXM.TO and CSAV.TO.
Loading charts...
Drawdown Indicators
| WXM.TO | CSAV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.45% | -0.02% | -40.43% |
Max Drawdown (1Y)Largest decline over 1 year | -9.49% | -0.02% | -9.47% |
Max Drawdown (3Y)Largest decline over 3 years | -12.13% | -0.02% | -12.11% |
Max Drawdown (5Y)Largest decline over 5 years | -15.87% | -0.02% | -15.85% |
Max Drawdown (10Y)Largest decline over 10 years | -40.45% | — | — |
Current DrawdownCurrent decline from peak | -5.32% | 0.00% | -5.32% |
Average DrawdownAverage peak-to-trough decline | -4.47% | 0.00% | -4.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.54% | 0.01% | +2.53% |
Volatility
WXM.TO vs. CSAV.TO - Volatility Comparison
CI Morningstar Canada Momentum Index ETF (WXM.TO) has a higher volatility of 4.71% compared to CI High Interest Savings ETF (CSAV.TO) at 0.07%. This indicates that WXM.TO's price experiences larger fluctuations and is considered to be riskier than CSAV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| WXM.TO | CSAV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.71% | 0.07% | +4.64% |
Volatility (6M)Calculated over the trailing 6-month period | 13.02% | 0.18% | +12.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.39% | 0.25% | +16.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.95% | 0.28% | +15.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.90% | 0.27% | +16.63% |
WXM.TO vs. CSAV.TO - Expense Ratio Comparison
WXM.TO has a 0.65% expense ratio, which is higher than CSAV.TO's 0.15% expense ratio.
Dividends
WXM.TO vs. CSAV.TO - Dividend Comparison
WXM.TO's dividend yield for the trailing twelve months is around 1.19%, less than CSAV.TO's 2.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSAV.TO CI High Interest Savings ETF | 2.16% | 2.53% | 4.40% | 4.90% | 2.15% | 0.57% | 0.89% | 1.14% | 0.00% | 0.00% | 0.00% | 0.00% |
WXM.TO CI Morningstar Canada Momentum Index ETF | 1.19% | 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 CSAV.TO have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSAV.TO is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSAV.TO is cheaper with a 0.15% expense ratio, compared with 0.65% for WXM.TO.
WXM.TO is categorized as Momentum, while CSAV.TO is Money Market. Their fees differ too: 0.65% for WXM.TO and 0.15% for CSAV.TO.
Find the right allocation for WXM.TO and CSAV.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer