Question 1

What is CNAO?

Accepted Answer

CNAO — CI Alternative North American Opportunities Fund (ETF C$ Series) — is a Canadian-listed ETF trading on the TSX. NA

Question 2

What is the CNAO ETF price today?

Accepted Answer

CNAO last traded at $35.06 CAD on the TSX. See the price chart above for recent performance.

Question 3

What is the CNAO MER (management expense ratio)?

Accepted Answer

CNAO has a management expense ratio (MER) of 0% per year. This fee is automatically deducted from the fund's assets, so you never pay it directly — but it does reduce your net returns over time. At 0%, CNAO is considered a low-cost ETF.

Question 4

What are CNAO annualised returns?

Accepted Answer

CNAO historical returns: YTD: +5.25%, 1-year: +11.81%, 3-year annualised: +17.75%, 5-year annualised: +11.86%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is 0.97, which measures risk-adjusted return.

Question 5

Does CNAO pay dividends or distributions?

Accepted Answer

CNAO distribution information is shown in the ETF details panel on this page. Check the ETF details section for the most current yield data.

Question 6

What does CNAO invest in?

Accepted Answer

CNAO's top holdings include NVIDIA Corporation (NVDA, 7.0%), Shopify Inc (SHOP, 6.2%), Amazon.com Inc (AMZN, 5.6%), Alphabet Inc Class A (GOOGL, 5.1%), Microsoft Corporation (MSFT, 5.1%) — and 5 more positions. See the full Top 10 Holdings table above for a complete breakdown. The fund tracks the Morningstar CAD O/N Cash GR CAD.

Question 7

What sectors does CNAO invest in?

Accepted Answer

CNAO's largest sector exposures are Technology (51.9%), Healthcare (20.8%), Communication Services (12.1%). The full sector breakdown is shown in the Sector Weights table on this page.

Question 8

How large is CNAO? (Assets under management)

Accepted Answer

CNAO has approximately $47M in assets under management (AUM). Larger AUM generally means better liquidity, tighter bid-ask spreads, and a lower risk of the fund being wound down.

Question 9

When was CNAO launched?

Accepted Answer

CNAO was launched on July 8, 2021, giving it a 5-year track record. A longer history makes it easier to evaluate how the ETF performs across different market cycles.

Question 10

How do I buy CNAO in Canada?

Accepted Answer

CNAO trades on the TSX under the ticker CNAO. You can buy it through any Canadian brokerage, including Wealthsimple Trade (commission-free), Questrade, TD Direct Investing, RBC Direct, and CIBC Investor's Edge. It can be held in a TFSA, RRSP, FHSA, or taxable account.

Question 11

How risky is CNAO?

Accepted Answer

CNAO has a 1-year volatility of 18.98% and a beta of 0.00 (less volatile than the broad market). Its 3-year Sharpe ratio of 0.97 indicates moderate risk-adjusted returns. As with all market-linked investments, past volatility does not predict future risk.

Date	Open	High	Low	Close	Adj Close
2026-07-20	$35.06	$35.06	$35.06	$35.06	$35.06
2026-07-17	$35.34	$35.34	$35.34	$35.34	$35.34
2026-07-16	$36.15	$36.15	$36.15	$36.15	$36.15
2026-07-15	$36.36	$36.36	$36.36	$36.36	$36.36
2026-07-13	$36.66	$36.66	$36.66	$36.66	$36.66
2026-07-10	$36.61	$36.61	$36.61	$36.61	$36.61
2026-07-09	$36.03	$36.03	$36.03	$36.03	$36.03
2026-07-08	$35.93	$35.93	$35.93	$35.93	$35.93
2026-07-07	$36.48	$36.48	$36.48	$36.48	$36.48
2026-07-06	$36.16	$36.16	$36.16	$36.16	$36.16

#	Ticker	Name	Weight
1	NVDA	NVIDIA Corporation	6.98%
2	SHOP	Shopify Inc	6.21%
3	AMZN	Amazon.com Inc	5.60%
4	GOOGL	Alphabet Inc Class A	5.12%
5	MSFT	Microsoft Corporation	5.12%
6	TSM	Taiwan Semiconductor Manufacturing	4.43%
7	KLAC	KLA Corporation	4.41%
8	TMO	Thermo Fisher Scientific Inc	4.32%
9	SPGI	S&P Global Inc	4.24%
10	LLY	Eli Lilly and Company	3.89%

Sector	Weight
Technology	51.90%
Healthcare	20.84%
Communication Services	12.08%
Industrials	7.76%
Consumer Cyclicals	6.63%
Energy	0.79%
Basic Materials	0.00%
Financial Services	0.00%
Real Estate	0.00%
Consumer Defensive	0.00%
Utilities	0.00%

CI Alternative North American Opportunities Fund (ETF C$ Series) (CNAO : TSX)

CIBC Investor's Edge

Price Chart (30 Days)

Key Statistics

Recent Price History

Annualised Returns

Top 10 Holdings

Sector Weights

About CI Alternative North American Opportunities Fund (ETF C$ Series)

ETF Details

7 stocks to buy and hold forever

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Frequently Asked Questions — CNAO