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CGXF.TO vs. EHE.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CGXF.TO vs. EHE.TO

Last updated Jun 24, 2026

CGXF.TO (CI Gold+ Giants Covered Call ETF Common) and EHE.TO (CI Europe Hedged Equity Index ETF) are both exchange-traded funds - CGXF.TO is a Gold fund actively managed by CI, while EHE.TO is a Europe Equities fund tracking the WisdomTree Europe CAD-Hedged Equity Index. CGXF.TO is actively managed, while EHE.TO is passively managed. Over the past 5 years, CGXF.TO returned 17.95%/yr vs 9.99%/yr for EHE.TO. At a 0.07 correlation, their price movements are largely independent.

Performance

CGXF.TO vs. EHE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Gold+ Giants Covered Call ETF Common (CGXF.TO) and CI Europe Hedged Equity Index ETF (EHE.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CGXF.TO achieves a -8.39% return, which is significantly lower than EHE.TO's 7.29% return.

CGXF.TO

1D
-3.83%
1M
-6.08%
YTD
-8.39%
6M
-12.21%
1Y
34.27%
3Y*
31.39%
5Y*
17.95%
10Y*
9.36%

EHE.TO

1D
-1.08%
1M
2.24%
YTD
7.29%
6M
7.63%
1Y
20.04%
3Y*
12.63%
5Y*
9.99%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

CGXF.TO vs. EHE.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CGXF.TO
CI Gold+ Giants Covered Call ETF Common		-8.39%114.18%11.88%1.43%1.89%-6.21%15.22%20.53%-18.76%5.51%
EHE.TO
CI Europe Hedged Equity Index ETF		7.29%22.91%4.20%22.26%-10.45%23.79%-5.96%24.49%-10.68%15.40%

Correlation

The correlation between CGXF.TO and EHE.TO is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.05

Correlation (3Y)
Calculated over the trailing 3-year period

0.08

Correlation (5Y)
Calculated over the trailing 5-year period

0.07

Correlation (All Time)
Calculated using the full available price history since Jul 15, 2016

0.07

The correlation between CGXF.TO and EHE.TO shifts across timeframes, from -0.05 (1 year) to 0.08 (3 years), reflecting how their relationship changes across market environments.

CGXF.TO vs. EHE.TO - Sectors Allocation Comparison

Sectors
CGXF.TO
EHE.TO

Basic Materials

100.0%
6.8%

Communication Services

-

5.6%

Consumer Cyclical

-

13.5%

Consumer Defensive

-

12.4%

Energy

-

3.7%

Financial Services

-

15.1%

Healthcare

-

8.1%

Industrials

-

22.6%

Real Estate

-

-

Technology

-

12.1%

Utilities

-

-

Basic Materials

CGXF.TO
100.0%
EHE.TO
6.8%

Communication Services

CGXF.TO

-

EHE.TO
5.6%

Consumer Cyclical

CGXF.TO

-

EHE.TO
13.5%

Consumer Defensive

CGXF.TO

-

EHE.TO
12.4%

Energy

CGXF.TO

-

EHE.TO
3.7%

Financial Services

CGXF.TO

-

EHE.TO
15.1%

Healthcare

CGXF.TO

-

EHE.TO
8.1%

Industrials

CGXF.TO

-

EHE.TO
22.6%

Real Estate

CGXF.TO

-

EHE.TO

-

Technology

CGXF.TO

-

EHE.TO
12.1%

Utilities

CGXF.TO

-

EHE.TO

-

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CI Gold+ Giants Covered Call ETF Common

CI Europe Hedged Equity Index ETF

Often compared with CGXF.TO:
CGXF.TO vs. CGL.TOCGXF.TO vs. CCOM.TOCGXF.TO vs. VXM-B.TOCGXF.TO vs. AGCC.TOCGXF.TO vs. CGL-C.TOCGXF.TO vs. HGGG.TOCGXF.TO vs. CMNY.TO
Often compared with EHE.TO:
EHE.TO vs. VXM-B.TOEHE.TO vs. XEH.TOEHE.TO vs. CCOM.TOEHE.TO vs. HXX.TOEHE.TO vs. CBCX.TOEHE.TO vs. CEQT.TOEHE.TO vs. CMNY.TO

Return for Risk

CGXF.TO vs. EHE.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CGXF.TO
CGXF.TO Risk / Return Rank: 2424
Overall Rank
CGXF.TO Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
CGXF.TO Sortino Ratio Rank: 2424
Sortino Ratio Rank
CGXF.TO Omega Ratio Rank: 2626
Omega Ratio Rank
CGXF.TO Calmar Ratio Rank: 2323
Calmar Ratio Rank
CGXF.TO Martin Ratio Rank: 2323
Martin Ratio Rank
EHE.TO
EHE.TO Risk / Return Rank: 3939
Overall Rank
EHE.TO Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
EHE.TO Sortino Ratio Rank: 3939
Sortino Ratio Rank
EHE.TO Omega Ratio Rank: 3939
Omega Ratio Rank
EHE.TO Calmar Ratio Rank: 3737
Calmar Ratio Rank
EHE.TO Martin Ratio Rank: 4343
Martin Ratio Rank
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.

CGXF.TO vs. EHE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Gold+ Giants Covered Call ETF Common (CGXF.TO) and CI Europe Hedged Equity Index ETF (EHE.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

CGXF.TOEHE.TODifference
Sharpe ratioReturn per unit of total volatility
0.82
1.23

-0.42

Sortino ratioReturn per unit of downside risk
1.26
1.84

-0.59

Omega ratioGain probability vs. loss probability

1.17

1.24

-0.07

Calmar ratioReturn relative to maximum drawdown

1.02

1.71

-0.68

Martin ratioReturn relative to average drawdown

2.74

6.43

-3.69

CGXF.TO vs. EHE.TO - Sharpe Ratio Comparison

The current CGXF.TO Sharpe Ratio is 0.82, which is lower than the EHE.TO Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of CGXF.TO and EHE.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.

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Drawdowns

CGXF.TO vs. EHE.TO - Drawdown Comparison

The maximum CGXF.TO drawdown since its inception was -91.79%, which is greater than EHE.TO's maximum drawdown of -38.20%. Use the drawdown chart below to compare losses from any high point for CGXF.TO and EHE.TO.

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Drawdown Indicators

CGXF.TOEHE.TODifference

Max Drawdown

Largest peak-to-trough decline

-91.79%

-38.20%

-53.59%

Max Drawdown (1Y)

Largest decline over 1 year

-33.65%

-11.85%

-21.80%

Max Drawdown (3Y)

Largest decline over 3 years

-33.65%

-16.30%

-17.35%

Max Drawdown (5Y)

Largest decline over 5 years

-37.19%

-22.91%

-14.28%

Max Drawdown (10Y)

Largest decline over 10 years

-39.68%

—

—

Current Drawdown

Current decline from peak

-29.19%

-1.08%

-28.11%

Average Drawdown

Average peak-to-trough decline

-44.92%

-5.33%

-39.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

12.55%

3.13%

+9.42%

Volatility

CGXF.TO vs. EHE.TO - Volatility Comparison

CI Gold+ Giants Covered Call ETF Common (CGXF.TO) has a higher volatility of 15.81% compared to CI Europe Hedged Equity Index ETF (EHE.TO) at 5.45%. This indicates that CGXF.TO's price experiences larger fluctuations and is considered to be riskier than EHE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CGXF.TOEHE.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

15.81%

5.45%

+10.36%

Volatility (6M)

Calculated over the trailing 6-month period

34.84%

13.32%

+21.52%

Volatility (1Y)

Calculated over the trailing 1-year period

42.24%

16.40%

+25.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

31.44%

18.09%

+13.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

30.64%

17.46%

+13.18%

Dividends

CGXF.TO vs. EHE.TO - Dividend Comparison

CGXF.TO's dividend yield for the trailing twelve months is around 13.46%, more than EHE.TO's 2.00% yield.

PositionTTM20252024202320222021202020192018201720162015
CGXF.TO
CI Gold+ Giants Covered Call ETF Common		13.46%7.43%8.09%8.93%8.54%8.59%11.00%6.69%7.97%6.99%10.68%4.82%
EHE.TO
CI Europe Hedged Equity Index ETF		2.00%2.16%4.38%3.30%2.19%1.90%2.55%2.02%2.08%1.37%0.13%0.00%

Frequently Asked Questions

CGXF.TO and EHE.TO have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CGXF.TO is categorized as Gold, while EHE.TO is Europe Equities.

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