ZCLN.TO vs. CLML.TO
ZCLN.TO (BMO Clean Energy Index ETF) and CLML.TO (CI Global Climate Leaders Fund) are both exchange-traded funds - ZCLN.TO is a Alternative Energy Equities fund tracking the S&P Global Clean Energy Index, while CLML.TO is a fund fund. Over the past 3 years, ZCLN.TO returned 9.66%/yr vs 44.11%/yr for CLML.TO. At a 0.30 correlation, their price movements are largely independent.
Performance
ZCLN.TO vs. CLML.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZCLN.TO achieves a 43.19% return, which is significantly higher than CLML.TO's 36.54% return.
ZCLN.TO
- 1D
- -1.82%
- 1M
- 14.50%
- YTD
- 43.19%
- 6M
- 37.47%
- 1Y
- 83.05%
- 3Y*
- 9.66%
- 5Y*
- 4.92%
- 10Y*
- —
CLML.TO
- 1D
- 0.37%
- 1M
- 6.60%
- YTD
- 36.54%
- 6M
- 35.01%
- 1Y
- 58.40%
- 3Y*
- 44.11%
- 5Y*
- —
- 10Y*
- —
ZCLN.TO vs. CLML.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZCLN.TO BMO Clean Energy Index ETF | 43.19% | 37.90% | -20.23% | -20.37% | 1.41% | -7.65% |
CLML.TO CI Global Climate Leaders Fund | 36.54% | 25.21% | 63.19% | 12.83% | -18.69% | 9.27% |
Correlation
The correlation between ZCLN.TO and CLML.TO is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2021 | 0.30 |
Over the past year, ZCLN.TO and CLML.TO have become more correlated (0.54) than their long-term average of 0.30, meaning their price movements have been converging.
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Return for Risk
ZCLN.TO vs. CLML.TO — Risk / Return Rank
ZCLN.TO
CLML.TO
ZCLN.TO vs. CLML.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Clean Energy Index ETF (ZCLN.TO) and CI Global Climate Leaders Fund (CLML.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.
| ZCLN.TO | CLML.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.49 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 6.45 | 8.04 | -1.59 |
| Martin ratioReturn relative to average drawdown | 19.07 | 24.25 | -5.18 |
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
| ZCLN.TO | CLML.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.08 | 2.88 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.12 | 1.14 | -1.26 |
Drawdowns
ZCLN.TO vs. CLML.TO - Drawdown Comparison
The maximum ZCLN.TO drawdown since its inception was -61.07%, which is greater than CLML.TO's maximum drawdown of -28.17%. Use the drawdown chart below to compare losses from any high point for ZCLN.TO and CLML.TO.
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Drawdown Indicators
| ZCLN.TO | CLML.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.07% | -28.17% | -32.90% |
Max Drawdown (1Y)Largest decline over 1 year | -12.95% | -7.30% | -5.65% |
Max Drawdown (3Y)Largest decline over 3 years | -38.80% | -25.94% | -12.86% |
Max Drawdown (5Y)Largest decline over 5 years | -50.26% | — | — |
Current DrawdownCurrent decline from peak | -16.13% | 0.00% | -16.13% |
Average DrawdownAverage peak-to-trough decline | -40.49% | -8.96% | -31.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.37% | 2.42% | +1.95% |
Volatility
ZCLN.TO vs. CLML.TO - Volatility Comparison
BMO Clean Energy Index ETF (ZCLN.TO) has a higher volatility of 9.92% compared to CI Global Climate Leaders Fund (CLML.TO) at 8.88%. This indicates that ZCLN.TO's price experiences larger fluctuations and is considered to be riskier than CLML.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZCLN.TO | CLML.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.92% | 8.88% | +1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 20.45% | 16.50% | +3.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.21% | 20.38% | +6.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.89% | 20.68% | +5.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.06% | 20.68% | +6.38% |
Dividends
ZCLN.TO vs. CLML.TO - Dividend Comparison
ZCLN.TO's dividend yield for the trailing twelve months is around 1.19%, while CLML.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CLML.TO CI Global Climate Leaders Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZCLN.TO BMO Clean Energy Index ETF | 1.19% | 1.71% | 2.13% | 1.37% | 0.93% | 0.83% |
Frequently Asked Questions
ZCLN.TO and CLML.TO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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