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CI Alternative North American Opportunities Fund (ETF C$ Series) (CNAO.TO) ETF Analysis

CNAO.TO

Expense ratio 1.21% Yield 0% Since July 8, 2021 Family CI Investments Inc

Last Updated: October 20, 2026

CA$36.65

+CA$0.64 (+1.78%)

October 20, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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CNAO.TO Annualized Returns

With dividends reinvested · as of October 20, 2026

Period	Total return	Annualized	CA$100 becomes	CA$300 becomes
1 year	+9.17%	+9.17%	CA$109.17	CA$327.52
3 years	+71.42%	+19.68%	CA$171.42	CA$514.27
5 years	+78.43%	+12.28%	CA$178.43	CA$535.30

Returns are total returns computed from daily closes, with dividends reinvested. As of October 20, 2026.

CNAO.TO Return by Calendar Year

2021 and 2026 are partial years

−18.93%+35.16%+9.24%

2021*20222023202420252026*

View as table ↓View as chart ↑

Year	Return
2026 (partial year)	+9.24%
2025	+7.57%
2024	+31.71%
2023	+35.16%
2022	−18.93%
2021 (partial year)	+7.41%

CNAO.TO Monthly Returns

−11%+16%

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	−2.1	−5.2	−9.5	+15.2	+9.2	+1.8	−3.0	+4.7	+5.1	−4.9	—	—
2025	+5.2	−6.1	−7.9	−1.8	+5.0	+5.2	+5.9	−0.4	+0.2	+6.7	−1.6	−1.7
2024	+3.0	+4.3	+0.4	−3.0	+3.1	+7.2	−4.1	+1.6	+4.2	+4.6	+3.4	+3.8
2023	+8.2	−0.7	+7.4	−0.6	+3.0	+4.6	+1.3	+0.7	−4.4	+0.1	+9.1	+2.7
2022	−10.5	−3.6	+1.6	−3.9	−3.7	−6.2	+6.9	−1.1	−3.7	+4.1	+5.8	−4.9
2021	—	—	—	—	—	—	—	+1.2	+2.0	+0.2	+1.8	+2.3

Monthly total returns with dividends reinvested; each cell prints its signed value.

CNAO.TO Volatility & Risk

Volatility: 5 yrs

Annualized volatility: 19.40%
Best year: +35.16%
Worst year: −18.93%

Volatility is the annualized standard deviation of daily returns. As of October 20, 2026.

Top Holdings

#	Symbol	Name	Weight
1	GOOGL	Alphabet Inc Class A	5.68%
2	NVDA	NVIDIA Corp	5.51%
3	IQV	IQVIA Holdings Inc	5.32%
4	AMZN	Amazon.com Inc	4.55%
5	CLS.TO	Celestica Inc Ordinary Shares (Subordinate Voting)	4.54%
6	DXCM	DexCom Inc	4.46%
7	TMO	Thermo Fisher Scientific Inc	4.08%
8	META	Meta Platforms Inc Class A	3.88%
9	MSFT	Microsoft Corp	3.84%
10	TSM	Taiwan Semiconductor Manufacturing Co Ltd ADR	3.2%

Analysis

Data-derived

Fund Overview

CI Alternative North American Opportunities Fund (ETF C$ Series) (CNAO.TO) is an exchange-traded fund. CI Investments Inc is the fund family on file. It has been trading since July 8, 2021. Annual costs run at an expense ratio of 1.21%. On a CA$10,000 position that is CA$121.00 a year.

The largest positions on file are Alphabet Inc Class A (GOOGL), NVIDIA Corp (NVDA), and IQVIA Holdings Inc (IQV). Alphabet Inc Class A alone accounts for 5.68% of the portfolio. The ten largest positions together make up 45.05% of the fund.

Performance Analysis

The most recent close on file for CNAO.TO is CA$36.65, dated October 20, 2026. The trailing one-year total return is +9.17%. Measured over 5 years, that is +12.28% a year compounded.

The strongest complete calendar year on file is 2023 at +35.16%; the weakest is 2022 at −18.93%. Of the 4 complete calendar years on file, 3 finished higher. 2026 is still running; the total return is +9.24% year to date.

Price & Risk Profile

Daily returns over the trailing 5 years annualize to a volatility of 19.4%. Over the past 52 weeks the price has ranged from CA$28.19 to CA$39.53. The latest close sits 30.01% above that 52-week low. The volatility figure is calculated from the stored daily closes, the same series the charts on this page use.

Every figure above is read from this page's own data on each daily rebuild. Informational only, not financial advice. As of October 20, 2026.

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