XWD.TO vs. CMGG.TO
XWD.TO (iShares MSCI World Index ETF) and CMGG.TO (CI Munro Global Growth Equity Fund) are both Global Equities funds. XWD.TO is passively managed, while CMGG.TO is actively managed. Over the past 5 years, XWD.TO returned 14.76%/yr vs 20.56%/yr for CMGG.TO. A 0.50 correlation means they provide meaningful diversification when combined. XWD.TO charges 0.48%/yr vs 0.90%/yr for CMGG.TO.
Performance
XWD.TO vs. CMGG.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XWD.TO achieves a 11.42% return, which is significantly lower than CMGG.TO's 21.24% return.
XWD.TO
- 1D
- -0.47%
- 1M
- 6.72%
- YTD
- 11.42%
- 6M
- 10.29%
- 1Y
- 27.27%
- 3Y*
- 21.42%
- 5Y*
- 14.76%
- 10Y*
- 13.45%
CMGG.TO
- 1D
- 0.12%
- 1M
- 10.96%
- YTD
- 21.24%
- 6M
- 21.36%
- 1Y
- 38.88%
- 3Y*
- 35.34%
- 5Y*
- 20.56%
- 10Y*
- —
XWD.TO vs. CMGG.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XWD.TO iShares MSCI World Index ETF | 11.42% | 15.25% | 28.07% | 20.32% | -11.57% | 19.93% |
CMGG.TO CI Munro Global Growth Equity Fund | 21.24% | 21.00% | 52.95% | 24.21% | -21.16% | 11.08% |
Correlation
The correlation between XWD.TO and CMGG.TO is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Jan 13, 2021 | 0.50 |
Over the past year, XWD.TO and CMGG.TO have become more correlated (0.77) than their long-term average of 0.50, meaning their price movements have been converging.
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Return for Risk
XWD.TO vs. CMGG.TO — Risk / Return Rank
XWD.TO
CMGG.TO
XWD.TO vs. CMGG.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World Index ETF (XWD.TO) and CI Munro Global Growth Equity Fund (CMGG.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.
| XWD.TO | CMGG.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.40 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.55 | 3.85 | -0.30 |
| Martin ratioReturn relative to average drawdown | 14.52 | 10.77 | +3.75 |
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
| XWD.TO | CMGG.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.35 | 2.36 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.08 | 1.14 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | 0.98 | -0.07 |
Drawdowns
XWD.TO vs. CMGG.TO - Drawdown Comparison
The maximum XWD.TO drawdown since its inception was -27.48%, smaller than the maximum CMGG.TO drawdown of -29.00%. Use the drawdown chart below to compare losses from any high point for XWD.TO and CMGG.TO.
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Drawdown Indicators
| XWD.TO | CMGG.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.48% | -29.00% | +1.52% |
Max Drawdown (1Y)Largest decline over 1 year | -7.71% | -10.15% | +2.44% |
Max Drawdown (3Y)Largest decline over 3 years | -16.77% | -22.85% | +6.08% |
Max Drawdown (5Y)Largest decline over 5 years | -21.40% | -29.00% | +7.60% |
Max Drawdown (10Y)Largest decline over 10 years | -27.48% | — | — |
Current DrawdownCurrent decline from peak | -0.80% | 0.00% | -0.80% |
Average DrawdownAverage peak-to-trough decline | -3.50% | -8.91% | +5.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.88% | 3.62% | -1.74% |
Volatility
XWD.TO vs. CMGG.TO - Volatility Comparison
The current volatility for iShares MSCI World Index ETF (XWD.TO) is 3.61%, while CI Munro Global Growth Equity Fund (CMGG.TO) has a volatility of 6.68%. This indicates that XWD.TO experiences smaller price fluctuations and is considered to be less risky than CMGG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XWD.TO | CMGG.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.61% | 6.68% | -3.07% |
Volatility (6M)Calculated over the trailing 6-month period | 9.03% | 12.94% | -3.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.67% | 16.53% | -4.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.71% | 18.22% | -4.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.36% | 18.49% | -3.13% |
XWD.TO vs. CMGG.TO - Expense Ratio Comparison
XWD.TO has a 0.48% expense ratio, which is lower than CMGG.TO's 0.90% expense ratio.
Dividends
XWD.TO vs. CMGG.TO - Dividend Comparison
XWD.TO's dividend yield for the trailing twelve months is around 1.19%, while CMGG.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMGG.TO CI Munro Global Growth Equity Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XWD.TO iShares MSCI World Index ETF | 1.19% | 1.33% | 1.19% | 1.39% | 1.36% | 1.21% | 1.06% | 1.77% | 1.94% | 1.63% | 1.83% | 1.84% |
Frequently Asked Questions
XWD.TO and CMGG.TO have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XWD.TO is cheaper at 0.48% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XWD.TO is cheaper with a 0.48% expense ratio, compared with 0.90% for CMGG.TO.
They also come from different issuers: iShares and CI Global Asset Management. Their fees differ too: 0.48% for XWD.TO and 0.90% for CMGG.TO.
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