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

CXF.TO vs. EHE.TO

Last updated Jul 1, 2026
See Documentation

CXF.TO (CI Canadian Convertible Bond ETF) and EHE.TO (CI Europe Hedged Equity Index ETF) are both exchange-traded funds - CXF.TO is a Convertible Bonds fund actively managed by CI, while EHE.TO is a Europe Equities fund tracking the WisdomTree Europe CAD-Hedged Equity Index. CXF.TO is actively managed, while EHE.TO is passively managed. Over the past 5 years, CXF.TO returned 5.34%/yr vs 10.01%/yr for EHE.TO. At a 0.09 correlation, their price movements are largely independent.

Performance

CXF.TO vs. EHE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Canadian Convertible Bond ETF (CXF.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, CXF.TO achieves a 1.52% return, which is significantly lower than EHE.TO's 7.41% return.

CXF.TO

1D
-0.47%
1M
0.95%
YTD
1.52%
6M
1.43%
1Y
9.48%
3Y*
8.56%
5Y*
5.34%
10Y*
6.01%

EHE.TO

1D
0.58%
1M
1.53%
YTD
7.41%
6M
7.99%
1Y
17.80%
3Y*
13.93%
5Y*
10.01%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
CXF.TO
CI Canadian Convertible Bond ETF		1.52%9.05%19.64%1.36%-3.47%6.85%6.83%15.04%-4.63%4.23%
EHE.TO
CI Europe Hedged Equity Index ETF		7.41%22.91%4.19%22.26%-10.45%23.79%-5.96%24.49%-10.68%15.40%

Correlation

The correlation between CXF.TO and EHE.TO is 0.04, 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

0.04

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

0.09

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

0.11

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

0.09

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

CI Canadian Convertible Bond ETF

CI Europe Hedged Equity Index ETF

Often compared with EHE.TO:
EHE.TO vs. VXM-B.TOEHE.TO vs. XEH.TOEHE.TO vs. CCOM.TOEHE.TO vs. ZEQ.TOEHE.TO vs. CBCX.TOEHE.TO vs. CEQT.TOEHE.TO vs. CGXF.TO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CXF.TO
CXF.TO Risk / Return Rank: 3636
Overall Rank
CXF.TO Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
CXF.TO Sortino Ratio Rank: 2828
Sortino Ratio Rank
CXF.TO Omega Ratio Rank: 2727
Omega Ratio Rank
CXF.TO Calmar Ratio Rank: 5959
Calmar Ratio Rank
CXF.TO Martin Ratio Rank: 3838
Martin Ratio Rank
EHE.TO
EHE.TO Risk / Return Rank: 4040
Overall Rank
EHE.TO Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
EHE.TO Sortino Ratio Rank: 4040
Sortino Ratio Rank
EHE.TO Omega Ratio Rank: 4040
Omega Ratio Rank
EHE.TO Calmar Ratio Rank: 3838
Calmar Ratio Rank
EHE.TO Martin Ratio Rank: 4444
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.

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

This table presents a comparison of risk-adjusted performance metrics for CI Canadian Convertible Bond ETF (CXF.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.

CXF.TOEHE.TODifference
Sharpe ratioReturn per unit of total volatility
0.92
1.22

-0.30

Sortino ratioReturn per unit of downside risk
1.40
1.82

-0.42

Omega ratioGain probability vs. loss probability

1.17

1.23

-0.06

Calmar ratioReturn relative to maximum drawdown

2.51

1.68

+0.84

Martin ratioReturn relative to average drawdown

5.22

6.34

-1.12

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

The current CXF.TO Sharpe Ratio is 0.92, which is comparable to the EHE.TO Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of CXF.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

CXF.TO vs. EHE.TO - Drawdown Comparison

The maximum CXF.TO drawdown since its inception was -31.03%, smaller than the maximum EHE.TO drawdown of -38.20%. Use the drawdown chart below to compare losses from any high point for CXF.TO and EHE.TO.

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Drawdown Indicators

CXF.TOEHE.TODifference

Max Drawdown

Largest peak-to-trough decline

-31.03%

-38.20%

+7.17%

Max Drawdown (1Y)

Largest decline over 1 year

-3.79%

-11.85%

+8.06%

Max Drawdown (3Y)

Largest decline over 3 years

-12.81%

-16.30%

+3.49%

Max Drawdown (5Y)

Largest decline over 5 years

-12.87%

-22.91%

+10.04%

Max Drawdown (10Y)

Largest decline over 10 years

-31.03%

—

—

Current Drawdown

Current decline from peak

-0.56%

-0.97%

+0.41%

Average Drawdown

Average peak-to-trough decline

-2.96%

-5.32%

+2.36%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.82%

3.13%

-1.31%

Volatility

CXF.TO vs. EHE.TO - Volatility Comparison

The current volatility for CI Canadian Convertible Bond ETF (CXF.TO) is 3.27%, while CI Europe Hedged Equity Index ETF (EHE.TO) has a volatility of 5.06%. This indicates that CXF.TO experiences smaller price fluctuations and is considered to be less risky 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

CXF.TOEHE.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.27%

5.06%

-1.79%

Volatility (6M)

Calculated over the trailing 6-month period

7.97%

13.37%

-5.40%

Volatility (1Y)

Calculated over the trailing 1-year period

10.35%

16.28%

-5.93%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.03%

18.09%

-6.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.30%

17.45%

-3.15%

Dividends

CXF.TO vs. EHE.TO - Dividend Comparison

CXF.TO's dividend yield for the trailing twelve months is around 4.52%, more than EHE.TO's 2.16% yield.

PositionTTM20252024202320222021202020192018201720162015
CXF.TO
CI Canadian Convertible Bond ETF		4.52%4.48%4.75%5.31%5.11%4.70%4.79%4.86%5.32%4.82%4.79%5.17%
EHE.TO
CI Europe Hedged Equity Index ETF		2.16%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

CXF.TO and EHE.TO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CXF.TO is categorized as Convertible Bonds, while EHE.TO is Europe Equities.

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