WXM.TO vs. FIE.TO

Last updated Apr 1, 2026

Compare and contrast key facts about CI Morningstar Canada Momentum Index ETF (WXM.TO) and iShares Canadian Financial Monthly Income ETF (FIE.TO).

WXM.TO and FIE.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. WXM.TO is a passively managed fund by CI Global Asset Management that tracks the performance of the Morningstar Canada Target Momentum Index. It was launched on Feb 13, 2012. FIE.TO is a passively managed fund by iShares that tracks the performance of the Morningstar Can Equity Tgt Alloc NR CAD. It was launched on Apr 16, 2010. Both WXM.TO and FIE.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

WXM.TO vs. FIE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Morningstar Canada Momentum Index ETF (WXM.TO) and iShares Canadian Financial Monthly Income ETF (FIE.TO). The values are adjusted to include any dividend payments, if applicable.

WXM.TO vs. FIE.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WXM.TO CI Morningstar Canada Momentum Index ETF	8.73%	38.16%	33.93%	3.35%	-0.42%	20.98%	4.61%	31.48%	-4.88%	10.06%
FIE.TO iShares Canadian Financial Monthly Income ETF	-1.91%	24.15%	27.37%	12.34%	-14.53%	27.00%	0.99%	18.62%	-9.38%	11.69%

Returns By Period

In the year-to-date period, WXM.TO achieves a 8.73% return, which is significantly higher than FIE.TO's -1.91% return. Over the past 10 years, WXM.TO has outperformed FIE.TO with an annualized return of 14.63%, while FIE.TO has yielded a comparatively lower 10.45% annualized return.

WXM.TO

• 1D: 3.05%
• 1M: -4.45%
• YTD: 8.73%
• 6M: 21.99%
• 1Y: 47.64%
• 3Y*: 25.75%
• 5Y*: 18.27%
• 10Y*: 14.63%

FIE.TO

• 1D: 1.79%
• 1M: -2.61%
• YTD: -1.91%
• 6M: 3.67%
• 1Y: 20.81%
• 3Y*: 19.00%
• 5Y*: 10.84%
• 10Y*: 10.45%

*Multi-year figures are annualized to reflect compound growth (CAGR)

WXM.TO vs. FIE.TO - Expense Ratio Comparison

WXM.TO has a 0.65% expense ratio, which is lower than FIE.TO's 0.85% expense ratio.

FIE.TO

iShares Canadian Financial Monthly Income ETF

WXM.TO

CI Morningstar Canada Momentum Index ETF

Return for Risk

WXM.TO vs. FIE.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WXM.TO

WXM.TO Risk / Return Rank: 97
WXM.TO Sharpe Ratio Rank: 97
WXM.TO Sortino Ratio Rank: 97
WXM.TO Omega Ratio Rank: 97
WXM.TO Calmar Ratio Rank: 96
WXM.TO Martin Ratio Rank: 97

FIE.TO

FIE.TO Risk / Return Rank: 88
FIE.TO Sharpe Ratio Rank: 91
FIE.TO Sortino Ratio Rank: 90
FIE.TO Omega Ratio Rank: 92
FIE.TO Calmar Ratio Rank: 87
FIE.TO Martin Ratio Rank: 80

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.

WXM.TO vs. FIE.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 iShares Canadian Financial Monthly Income ETF (FIE.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	FIE.TO	Difference
Sharpe ratio Return per unit of total volatility	2.84	1.97	+0.88
Sortino ratio Return per unit of downside risk	3.56	2.48	+1.08
Omega ratio Gain probability vs. loss probability	1.54	1.40	+0.14
Calmar ratio Return relative to maximum drawdown	4.38	2.59	+1.79
Martin ratio Return relative to average drawdown	19.78	8.37	+11.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WXM.TO vs. FIE.TO - Sharpe Ratio Comparison

The current WXM.TO Sharpe Ratio is 2.84, which is higher than the FIE.TO Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of WXM.TO and FIE.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.

Sharpe Ratios by Period

	WXM.TO	FIE.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.84	1.97	+0.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.17	1.05	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	0.75	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	0.68	+0.20

Correlation

The correlation between WXM.TO and FIE.TO is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

WXM.TO vs. FIE.TO - Dividend Comparison

WXM.TO's dividend yield for the trailing twelve months is around 1.26%, less than FIE.TO's 4.96% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WXM.TO CI Morningstar Canada Momentum Index ETF	1.26%	1.25%	1.27%	1.38%	2.25%	1.04%	0.78%	0.94%	1.44%	1.38%	1.58%	1.51%
FIE.TO iShares Canadian Financial Monthly Income ETF	4.96%	4.81%	5.66%	6.77%	7.09%	5.68%	6.80%	6.36%	7.07%	6.02%	6.31%	7.11%

Drawdowns

WXM.TO vs. FIE.TO - Drawdown Comparison

The maximum WXM.TO drawdown since its inception was -40.45%, roughly equal to the maximum FIE.TO drawdown of -42.25%. Use the drawdown chart below to compare losses from any high point for WXM.TO and FIE.TO.

Drawdown Indicators

	WXM.TO	FIE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-40.45%	-42.25%	+1.80%
Max Drawdown (1Y) Largest decline over 1 year	-11.18%	-8.31%	-2.87%
Max Drawdown (5Y) Largest decline over 5 years	-15.87%	-23.03%	+7.16%
Max Drawdown (10Y) Largest decline over 10 years	-40.45%	-42.25%	+1.80%
Current Drawdown Current decline from peak	-5.21%	-5.15%	-0.06%
Average Drawdown Average peak-to-trough decline	-4.52%	-5.06%	+0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	2.58%	-0.10%

Volatility

WXM.TO vs. FIE.TO - Volatility Comparison

CI Morningstar Canada Momentum Index ETF (WXM.TO) has a higher volatility of 6.24% compared to iShares Canadian Financial Monthly Income ETF (FIE.TO) at 4.18%. This indicates that WXM.TO's price experiences larger fluctuations and is considered to be riskier than FIE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WXM.TO	FIE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.24%	4.18%	+2.06%
Volatility (6M) Calculated over the trailing 6-month period	12.62%	7.32%	+5.30%
Volatility (1Y) Calculated over the trailing 1-year period	16.85%	10.64%	+6.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.74%	10.44%	+5.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.68%	14.06%	+2.62%