# How Canadian Imperial Bank of Commerce (CM) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/cm
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on CM alone. It places CM (Canadian Imperial Bank of Commerce) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where CM stands in the market, and of the alternatives worth a closer look.

Period covered: CM's full trading record, from November 1997 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** Over the past 3 months, CM fell 3.3% while the S&P 500 rose 3.9%. Not every peer went the same way. Over the past 3 months, TD (Toronto-Dominion Bank) rose 2.1% and UBS (UBS Group) fell 8.3%.
- **Stock or market?:** The weakness is CM's own: it fell 3.3% over the past 3 months while the banks ETF EWC (iShares MSCI Canada ETF) rose 3.8%. The S&P 500 rose 3.9%. Its bank peers did not move as one over the past 3 months: TD (Toronto-Dominion Bank) rose 2.1%, while UBS (UBS Group) fell 8.3%.
- **Past 1 to 3 years:** CM has run far ahead of the market, rising 44.4% over the past year against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. The same gap shows up over 3 years (261% against 89.3%). CM finished ahead of the S&P 500 in both 2024 and 2025.
- **Long term:** CM turned $10,000 into $49,500 over the past decade, against $42,100 in the S&P 500. CM's 10-year return of 395% puts it ahead of 81% of the stocks worth at least $300 million with that much history. The S&P 500 returned 321%.
- **In a crash:** Across seven sell-offs, CM has typically fallen 1.3 times as far as the S&P 500.
- **Diversification:** Against the S&P 500, CM has a correlation of 0.63 over 5 years, more closely than 94% of stocks worth at least $300 million. Next to an index fund it is more of the same, not a cushion.
- **Better options**
  - **Popular alternatives:** MUFG (Mitsubishi UFJ Financial Group), BBVA (Banco Bilbao Vizcaya Argentaria) and SMFG (Sumitomo Mitsui Financial Group) were ahead of CM in most short and long periods, though with much bigger swings (29.4%, 33.3% and 29.4% volatility against 21.6%).
  - **Nearby categories and themes:** BAP (Credicorp, banks) was ahead of CM in most short and long periods, though with much bigger swings (30.2% volatility against 21.6%).
  - **Whole market:** Few investments have done better on both counts: only five of the 3,633 stocks and funds worth at least $500 million earned more than CM with less volatility over the past 5 years, among them MPLX, DXJ (WisdomTree Japan Hedged Equity Fund) and SDCI (USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund).

## How much would $10,000 in CM have grown?

This chart tracks a hypothetical $10,000 investment in CM over the past 28 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of CM over the same span and CM's popular alternatives, among those that traded for the entire period.

- $10,000 invested in CM at the end of September 1998 would have grown to $457,207 by September 2026, more than the $121,630 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of CM, and BAP finished highest, at $1,209,774.

## CM at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout.

- CM's deepest decline since it began trading in 1997 was 71.8%, from November 2007 to March 2009. It took about four years from the low to climb back to its old high.
- Over 28 full calendar years, CM's best was 2003, when it returned 87.9%, and its worst was 2008, when it lost 37.9%. It lost money in eight of those years.
- CM is 7.9% below its all-time high.

- Type: Stock, Financials (Banks - Diversified)
- Trading since: November 13, 1997
- Market value: $103B
- Volatility (5 years): 21.6%; Sharpe ratio: 0.93
- Worst decline ever: −71.8%, from November 6, 2007 to March 9, 2009; back at its high by December 20, 2012

| Period | CM total return |
| --- | --- |
| 1 month | −2.0% |
| 3 months | −3.3% |
| 6 months | +4.3% |
| year to date | +25.8% |
| 1 year | +44.4% |
| 3 years | +261% |
| 5 years | +141% |
| 10 years | +395% |

## CM against the whole market

Where CM ranks among every stock and fund, and what across the market has done better.

### How does CM rank among all stocks?

This section ranks CM on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history.

- CM is among the steadier stocks: its price swings rank in the top 5% of the 2,893 stocks worth at least $300 million, where the top is the calmest.

| Measure | CM | Rank |
| --- | --- | --- |
| 1-year return | +44.4% | 639 of 3,287 (top 20%) |
| 3-year return | +261% | 283 of 3,017 (top 10%) |
| 5-year return | +141% | 480 of 2,893 (top 17%) |
| 10-year return | +395% | 423 of 2,202 (top 20%) |
| Volatility, 5 years | 21.6% | 140 of 2,893 (top 5%) |
| Sharpe ratio, 5 years | 0.93 | 151 of 2,893 (top 6%) |
| Worst decline, past 10 years | −47.3% | 354 of 2,187 (top 17%) |

### What has beaten CM on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer).

- One stock and four ETFs worth at least $500 million sit in the green region: each earned more than CM over the past 5 years with smaller price swings. That is fewer than 1% of the 3,633 screened. Few investments beat it on both counts.
- Among those with at least half CM's swings, DXJ has the best return for its risk: 26.6% a year at 19.1% volatility, 12% less than CM's 21.6%, and a Sharpe ratio (return above cash per unit of volatility) of 1.34 against 0.93 for CM.

### Is there a better investment than CM?

The table below lists investments that beat CM over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes.

- Among CM's popular alternatives, MUFG, BBVA and SMFG were ahead of CM in most short and long periods, though with much bigger swings (29.4%, 33.3% and 29.4% volatility against 21.6%).
- Looking beyond its popular alternatives, BAP (banks) was ahead of CM in most short and long periods, though with much bigger swings (30.2% volatility against 21.6%).
- Few investments have done better on both counts: only five of the 3,633 stocks and funds worth at least $500 million earned more than CM with less volatility over the past 5 years, among them MPLX, DXJ and SDCI.

The 4 strongest of 5 investments that beat CM over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with CM | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| CM: Canadian Imperial Bank of Commerce (this page) |  | +19.2% | 21.6% | 0.93 | −47.3% | +395% |  |  |
| DXJ: WisdomTree Japan Hedged Equity Fund | International Equity | +26.6% | 19.1% | 1.34 | −39.1% | +428% | 0.32 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [MPLX](https://easycompare.io/research/mplx): MPLX Lp | Oil & Gas Midstream | +23.5% | 18.8% | 1.22 | −75.2% | +350% | 0.30 | Higher return, lower volatility |
| DBJP: Xtrackers MSCI Japan Hedged Equity ETF | International | +20.9% | 19.2% | 1.09 | −31.3% | +348% | 0.38 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| SDCI: USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | Bonds | +20.6% | 18.4% | 1.12 | −45.7% | — | 0.03 | Higher return, lower volatility |

## CM against its popular alternatives

The investments people most often weigh against CM, compared period by period and year by year.

### How do CM's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings.

- None of the 21 popular alternatives earned more than CM over the past 5 years with smaller price swings, so every higher return on the map came with a bumpier ride.
- Over the past 5 years, CM returned 19.2% a year, more than the S&P 500's 12.7%, with higher volatility (21.6% against 17.1%).

### Has CM consistently beaten its popular alternatives?

This section compares CM with the investments people most often weigh against it, checking each one over eight periods from one month to ten years.

- Two of the 22 popular alternatives, SMFG and MUFG, outperformed CM in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- MFG and RY earned more for the risk they took than CM (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of CM | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| CM: Canadian Imperial Bank of Commerce (this page) | +44.4% | +261% | +141% | +395% |  |  | 0.93 |
| [SMFG](https://easycompare.io/research/smfg): Sumitomo Mitsui Financial Group, Inc. | +53.5% | +181% | +327% | +474% | 4/5 short-term, 2/3 long-term | consistent | 1.14 |
| [MUFG](https://easycompare.io/research/mufg): Mitsubishi UFJ Financial Group, Inc. | +41.3% | +184% | +319% | +483% | 3/5 short-term, 2/3 long-term | consistent | 1.13 |
| [BBVA](https://easycompare.io/research/bbva): Banco Bilbao Vizcaya Argentaria, S.A. | +35.2% | +281% | +413% | +542% | 2/5 short-term, 3/3 long-term |  | 1.16 |
| [SAN](https://easycompare.io/research/san): Banco Santander, S.A. | +35.9% | +305% | +295% | +332% | 1/5 short-term, 2/3 long-term |  | 0.99 |
| [MFG](https://easycompare.io/research/mfg): Mizuho Financial Group, Inc. | +53.1% | +216% | +326% | +345% | 4/5 short-term, 1/3 long-term |  | 1.10 |
| [MFC](https://easycompare.io/research/mfc): Manulife Financial Corporation | +44.8% | +189% | +177% | +373% | 3/5 short-term, 1/3 long-term |  | 0.97 |
| [ING](https://easycompare.io/research/ing): ING Groep N.V. | +42.5% | +209% | +201% | +339% | 2/5 short-term, 1/3 long-term |  | 0.87 |
| [UBS](https://easycompare.io/research/ubs): UBS Group AG | +26.3% | +116% | +210% | +374% | 1/5 short-term, 1/3 long-term |  | 0.90 |
| [HSBC](https://easycompare.io/research/hsbc): HSBC Holdings plc | +47.7% | +201% | +318% | +319% | 1/5 short-term, 1/3 long-term |  | 1.24 |
| BCH: Banco de Chile | +25.2% | +138% | +208% | +180% | 1/5 short-term, 1/3 long-term |  | 0.94 |
| [LYG](https://easycompare.io/research/lyg): Lloyds Banking Group plc | +22.4% | +207% | +152% | +213% | 0/5 short-term, 1/3 long-term |  | 0.74 |
| [DB](https://easycompare.io/research/db): Deutsche Bank AG | −3.1% | +244% | +171% | +165% | 0/5 short-term, 1/3 long-term |  | 0.72 |
| [TD](https://easycompare.io/research/td): The Toronto-Dominion Bank | +57.5% | +141% | +109% | +310% | 5/5 short-term, 0/3 long-term |  | 0.84 |
| [BNS](https://easycompare.io/research/bns): The Bank of Nova Scotia | +50.0% | +162% | +83.1% | +187% | 4/5 short-term, 0/3 long-term |  | 0.71 |
| [SLF](https://easycompare.io/research/slf): Sun Life Financial Inc. | +35.5% | +96.3% | +74.1% | +255% | 3/5 short-term, 0/3 long-term |  | 0.67 |
| [BMO](https://easycompare.io/research/bmo): Bank of Montreal | +37.6% | +146% | +89.4% | +295% | 2/5 short-term, 0/3 long-term |  | 0.71 |
| EWC: iShares MSCI Canada ETF | +21.7% | +98.3% | +69.8% | +191% | 2/5 short-term, 0/3 long-term |  | 0.70 |
| [BAM](https://easycompare.io/research/bam): Brookfield Asset Management Ltd. | −12.5% | +67.9% | — | — | 2/5 short-term, 0/3 long-term |  | — |
| [RY](https://easycompare.io/research/ry): Royal Bank of Canada | +39.2% | +173% | +122% | +352% | 1/5 short-term, 0/3 long-term |  | 0.97 |
| BSAC: Banco Santander-Chile | +24.0% | +124% | +144% | +154% | 1/5 short-term, 0/3 long-term |  | 0.76 |
| [BCS](https://easycompare.io/research/bcs): Barclays PLC | +15.1% | +242% | +134% | +238% | 0/5 short-term, 0/3 long-term |  | 0.67 |
| BCE: BCE Inc. | −11.4% | −32.5% | −45.2% | −20.1% | 0/5 short-term, 0/3 long-term |  | -0.51 |

### How did CM do year by year?

This table shows each investment's total return in every full calendar year since 1998, along with where CM ranked among its popular alternatives each year.

- Ranked against its popular alternatives each year, CM finished in the top quarter in ten of 28 years and in the bottom quarter in three. In 2025, it ranked 13 of 23.
- CM finished ahead of the S&P 500 in 15 of its 28 full calendar years, and ahead of it in each of the last two.
- Among its popular alternatives, BCH came out ahead of CM most often, in 16 of the 28 years both traded.

| Year | CM | SPY |
| --- | --- | --- |
| 2025 | +49.0% | +17.7% |
| 2024 | +37.9% | +24.9% |
| 2023 | +26.5% | +26.2% |
| 2022 | −26.8% | −18.2% |
| 2021 | +44.7% | +28.7% |
| 2020 | +9.3% | +18.3% |
| 2019 | +20.3% | +31.2% |
| 2018 | −19.8% | −4.6% |
| 2017 | +23.5% | +21.7% |
| 2016 | +29.8% | +12.0% |

## Risk and diversification

How CM has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

### What were CM's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- In all five of CM's worst declines, the S&P 500 held up better over the same dates.
- The slowest recovery came after CM fell 71.8% from November 2007 to March 2009; it did not regain that peak until December 2012, four years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −71.8% | November 6, 2007 | March 9, 2009 | December 20, 2012 | −53.9% | 2008 financial crisis |
| −58.5% | April 16, 1998 | October 9, 1998 | February 1, 2001 | −10.5% |  |
| −47.3% | January 5, 2018 | March 23, 2020 | November 24, 2020 | −14.8% | late-2018 sell-off |
| −41.9% | January 18, 2022 | October 27, 2023 | August 29, 2024 | −7.6% | 2022 bear market |
| −39.8% | April 19, 2002 | October 9, 2002 | May 14, 2003 | −30.3% | dot-com bust |

### How did CM do in stock market crashes?

This section measures how far CM, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- Among its popular alternatives, BCH held up best, falling less than CM in eight of the ten crashes they both traded through.
- CM fell further than the S&P 500 in six of the ten crashes it has traded through. The clearest case was the 2008 financial crisis, when CM fell 71.8% and the S&P 500 fell 55.2%.

| Crash | Dates | CM fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −39.8% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −71.8% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | 0.0% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −12.9% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −25.3% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −5.9% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −22.2% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −43.6% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −36.2% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −7.0% | −3.4% |

### How closely does CM move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell.

- TD took just 80% of the S&P 500's losses, against 106% for CM, while still keeping 89% of its gains.
- Over the past 10 years, CM captured 108% of the S&P 500's gains in rising months and 106% of its losses in falling months, with a beta of 1.07. It amplified the market's moves in both directions.
- Nine of the 21 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than CM's 1.02, led by BCH, MUFG and SMFG.

Measured over the past 10 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| CM: Canadian Imperial Bank of Commerce (this page) | 108% | 106% | 1.07 |
| [SMFG](https://easycompare.io/research/smfg): Sumitomo Mitsui Financial Group, Inc. | 84.0% | 43.0% | 0.65 |
| [MUFG](https://easycompare.io/research/mufg): Mitsubishi UFJ Financial Group, Inc. | 84.0% | 42.0% | 0.66 |
| [BBVA](https://easycompare.io/research/bbva): Banco Bilbao Vizcaya Argentaria, S.A. | 121% | 97.0% | 1.11 |
| [SAN](https://easycompare.io/research/san): Banco Santander, S.A. | 101% | 92.0% | 1.02 |
| [MFG](https://easycompare.io/research/mfg): Mizuho Financial Group, Inc. | 75.0% | 42.0% | 0.54 |
| [MFC](https://easycompare.io/research/mfc): Manulife Financial Corporation | 110% | 110% | 1.10 |
| [ING](https://easycompare.io/research/ing): ING Groep N.V. | 136% | 155% | 1.36 |
| [UBS](https://easycompare.io/research/ubs): UBS Group AG | 116% | 120% | 1.18 |
| [HSBC](https://easycompare.io/research/hsbc): HSBC Holdings plc | 79.0% | 53.0% | 0.58 |
| BCH: Banco de Chile | 45.0% | 19.0% | 0.36 |
| [LYG](https://easycompare.io/research/lyg): Lloyds Banking Group plc | 106% | 130% | 1.20 |
| [DB](https://easycompare.io/research/db): Deutsche Bank AG | 102% | 118% | 1.21 |
| [TD](https://easycompare.io/research/td): The Toronto-Dominion Bank | 89.0% | 80.0% | 0.88 |
| [BNS](https://easycompare.io/research/bns): The Bank of Nova Scotia | 97.0% | 120% | 1.05 |
| [SLF](https://easycompare.io/research/slf): Sun Life Financial Inc. | 87.0% | 85.0% | 0.96 |
| [BMO](https://easycompare.io/research/bmo): Bank of Montreal | 104% | 112% | 1.12 |
| EWC: iShares MSCI Canada ETF | 88.0% | 102% | 0.95 |
| [RY](https://easycompare.io/research/ry): Royal Bank of Canada | 97.0% | 88.0% | 0.88 |
| BSAC: Banco Santander-Chile | 66.0% | 65.0% | 0.66 |
| [BCS](https://easycompare.io/research/bcs): Barclays PLC | 113% | 131% | 1.26 |
| BCE: BCE Inc. | 43.0% | 100% | 0.50 |

### What diversifies CM?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in CM into GLD would have cut the portfolio's volatility by 17% over the past 5 years and raised its annual return (+20.5% for CM alone, +20.8% for the mix).
- Among large ETFs, DXJ, HDV and MLPX have moved largely independently of CM over the past 5 years, with correlations of 0.47 or lower, and each still earned a positive 5-year return.
- Among large stocks, CAH, CLS and FIX have moved largely independently of CM over the past 5 years, with correlations of 0.47 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with CM | 5Y return | Volatility | Sharpe | Rose in CM's 8 down years |
| --- | --- | --- | --- | --- | --- |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.32 | +225% | 19.1% | 1.34 | 2 of 8 |
| HDV: iShares Core High Dividend ETF | 0.47 | +83.3% | 13.0% | 1.00 | 1 of 8 |
| MLPX: Global X - MLP & Energy Infrastructure ETF | 0.44 | +135% | 19.7% | 0.97 | 1 of 8 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.48 | +323% | 36.9% | 0.97 | 2 of 8 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.15 | +126% | 18.9% | 0.96 | 3 of 8 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.19 | +177% | 25.5% | 0.93 | 3 of 8 |
| AMLP: Alerian MLP ETF | 0.31 | +111% | 18.9% | 0.89 | 2 of 8 |
| PTLC: Pacer Trendpilot US Large Cap ETF | 0.41 | +57.4% | 11.8% | 0.83 | 1 of 8 |

## Common questions

### What was CM's worst drawdown?

CM's deepest decline since it began trading in 1997 was 71.8%, from November 2007 to March 2009. It took about four years from the low to climb back to its old high.

### What were CM's best and worst years?

Over 28 full calendar years, CM's best year was 2003, when it returned 87.9%. Its worst was 2008, with a return of -37.9%.

### Is there a better investment than CM?

Among CM's popular alternatives, MUFG, BBVA and SMFG were ahead of CM in most short and long periods, though with much bigger swings (29.4%, 33.3% and 29.4% volatility against 21.6%). Looking beyond its popular alternatives, BAP (banks) was ahead of CM in most short and long periods, though with much bigger swings (30.2% volatility against 21.6%).

### Is CM more volatile than the S&P 500?

Yes. CM's volatility over the past 5 years was 21.6%, 1.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, CM's return lands within 21.6% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is CM's Sharpe ratio?

CM's Sharpe ratio over the past 5 years was 0.93, against 0.79 for the S&P 500, so CM earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

### How correlated is CM with the S&P 500?

Over the past 5 years, CM's monthly returns had a correlation of 0.63 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against CM instead: the lower it is, the more that option would diversify a CM holding.

### What are the best alternatives to CM?

Of the 22 popular alternatives we compared, two outperformed CM in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: SMFG and MUFG.

### Did CM outperform the S&P 500?

CM finished ahead of the S&P 500 (SPY) in 15 of 28 full calendar years. In 2025, it returned +49.0%, against +17.7% for the index.

### How did CM do in stock market crashes?

CM fell less than the S&P 500 (SPY) in four of the ten major crashes it has traded through, and further in six. The clearest case was the 2008 financial crisis, when CM fell 71.8% and the S&P 500 fell 55.2%.

### What diversifies CM?

These had a low correlation with CM over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.32), HDV (correlation 0.47) and MLPX (correlation 0.44); among large stocks, CAH (correlation 0.20), CLS (correlation 0.36) and FIX (correlation 0.47). A correlation near zero means the two have moved largely independently.

## More research

- [Sumitomo Mitsui Financial Group (SMFG) Performance, Alternatives and Market Rank](https://easycompare.io/research/smfg)
- [Mitsubishi UFJ Financial Group (MUFG) Performance, Alternatives and Market Rank](https://easycompare.io/research/mufg)
- [Banco Bilbao Vizcaya Argentaria (BBVA) Performance, Alternatives and Market Rank](https://easycompare.io/research/bbva)
- [Banco Santander (SAN) Performance, Alternatives and Market Rank](https://easycompare.io/research/san)
- [Mizuho Financial Group (MFG) Performance, Alternatives and Market Rank](https://easycompare.io/research/mfg)
- [Manulife Financial (MFC) Performance, Alternatives and Market Rank](https://easycompare.io/research/mfc)
- [ING Groep (ING) Performance, Alternatives and Market Rank](https://easycompare.io/research/ing)
- [UBS Group (UBS) Performance, Alternatives and Market Rank](https://easycompare.io/research/ubs)
- [HSBC Performance, Alternatives and Market Rank](https://easycompare.io/research/hsbc)
- [Lloyds Banking Group (LYG) Performance, Alternatives and Market Rank](https://easycompare.io/research/lyg)
- [Deutsche Bank (DB) Performance, Alternatives and Market Rank](https://easycompare.io/research/db)
- [Toronto-Dominion Bank (TD) Performance, Alternatives and Market Rank](https://easycompare.io/research/td)

## Explore further

- Full page with charts: https://easycompare.io/research/cm
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against CM live: https://betterthanspy.com/?b=CM&utm_source=easycompare&utm_medium=research