BCCL.NEO vs. TXF.TO

Last updated Jun 5, 2026

BCCL.NEO (Global X Enhanced Bitcoin Covered Call ETF) and TXF.TO (CI Tech Giants Covered Call Common) are both exchange-traded funds - BCCL.NEO is a Derivative Income fund actively managed by Global X, while TXF.TO is a Technology Equities fund actively managed by CI Investments. Both are actively managed. Over the past year, BCCL.NEO returned -41.11% vs 61.36% for TXF.TO. At a 0.37 correlation, their price movements are largely independent.

Performance

BCCL.NEO vs. TXF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Enhanced Bitcoin Covered Call ETF (BCCL.NEO) and CI Tech Giants Covered Call Common (TXF.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BCCL.NEO achieves a -29.88% return, which is significantly lower than TXF.TO's 29.65% return.

BCCL.NEO

• 1D: -3.23%
• 1M: -23.26%
• YTD: -29.88%
• 6M: -34.64%
• 1Y: -41.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TXF.TO

• 1D: -1.59%
• 1M: 14.07%
• YTD: 29.65%
• 6M: 29.87%
• 1Y: 61.36%
• 3Y*: 32.49%
• 5Y*: 18.11%
• 10Y*: 19.53%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BCCL.NEO vs. TXF.TO - Yearly Performance Comparison

	2026 (YTD)	2025
BCCL.NEO Global X Enhanced Bitcoin Covered Call ETF	-29.88%	-6.58%
TXF.TO CI Tech Giants Covered Call Common	29.65%	39.15%

Correlation

The correlation between BCCL.NEO and TXF.TO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since May 1, 2025	0.37

Return for Risk

BCCL.NEO vs. TXF.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BCCL.NEO

BCCL.NEO Risk / Return Rank: 2
BCCL.NEO Sharpe Ratio Rank: 2
BCCL.NEO Sortino Ratio Rank: 2
BCCL.NEO Omega Ratio Rank: 2
BCCL.NEO Calmar Ratio Rank: 2
BCCL.NEO Martin Ratio Rank: 2

TXF.TO

TXF.TO Risk / Return Rank: 83
TXF.TO Sharpe Ratio Rank: 90
TXF.TO Sortino Ratio Rank: 84
TXF.TO Omega Ratio Rank: 84
TXF.TO Calmar Ratio Rank: 79
TXF.TO Martin Ratio Rank: 78

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BCCL.NEO vs. TXF.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Enhanced Bitcoin Covered Call ETF (BCCL.NEO) and CI Tech Giants Covered Call Common (TXF.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.

	BCCL.NEO	TXF.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.94	3.06	-4.00
Sortino ratio: Return per unit of downside risk	-1.34	3.72	-5.06
Omega ratio: Gain probability vs. loss probability	0.85	1.50	-0.65
Calmar ratio: Return relative to maximum drawdown	-0.79	4.00	-4.78
Martin ratio: Return relative to average drawdown	-1.37	14.75	-16.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BCCL.NEO vs. TXF.TO - Sharpe Ratio Comparison

The current BCCL.NEO Sharpe Ratio is -0.94, which is lower than the TXF.TO Sharpe Ratio of 3.06. The chart below compares the historical Sharpe Ratios of BCCL.NEO and TXF.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BCCL.NEO	TXF.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.94	3.06	-4.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.74	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.74	0.80	-1.54

Drawdowns

BCCL.NEO vs. TXF.TO - Drawdown Comparison

The maximum BCCL.NEO drawdown since its inception was -52.47%, which is greater than TXF.TO's maximum drawdown of -41.23%. Use the drawdown chart below to compare losses from any high point for BCCL.NEO and TXF.TO.

Drawdown Indicators

	BCCL.NEO	TXF.TO	Difference
Max Drawdown Largest peak-to-trough decline	-52.47%	-41.23%	-11.24%
Max Drawdown (1Y) Largest decline over 1 year	-52.47%	-15.43%	-37.04%
Max Drawdown (3Y) Largest decline over 3 years	—	-27.38%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-41.23%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.23%	—
Current Drawdown Current decline from peak	-52.28%	-1.59%	-50.69%
Average Drawdown Average peak-to-trough decline	-22.26%	-6.17%	-16.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.98%	4.17%	+25.81%

Volatility

BCCL.NEO vs. TXF.TO - Volatility Comparison

Global X Enhanced Bitcoin Covered Call ETF (BCCL.NEO) has a higher volatility of 11.08% compared to CI Tech Giants Covered Call Common (TXF.TO) at 6.07%. This indicates that BCCL.NEO's price experiences larger fluctuations and is considered to be riskier than TXF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCCL.NEO	TXF.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.08%	6.07%	+5.01%
Volatility (6M) Calculated over the trailing 6-month period	32.14%	16.47%	+15.67%
Volatility (1Y) Calculated over the trailing 1-year period	44.02%	20.15%	+23.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.68%	24.63%	+19.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.68%	23.55%	+20.13%

Dividends

BCCL.NEO vs. TXF.TO - Dividend Comparison

BCCL.NEO's dividend yield for the trailing twelve months is around 42.02%, more than TXF.TO's 9.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCCL.NEO Global X Enhanced Bitcoin Covered Call ETF	42.02%	16.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TXF.TO CI Tech Giants Covered Call Common	9.26%	10.59%	9.76%	7.48%	14.13%	7.77%	11.01%	7.29%	9.29%	4.89%	6.16%	6.15%

Frequently Asked Questions

Can I hold both BCCL.NEO and TXF.TO in my portfolio?

BCCL.NEO and TXF.TO have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between BCCL.NEO and TXF.TO?

BCCL.NEO is categorized as Derivative Income, while TXF.TO is Technology Equities. They also come from different issuers: Global X and CI Investments.