EDGE.TO vs. FHQ.TO

Last updated Jul 25, 2026

EDGE.TO (Evolve Innovation Index Fund) and FHQ.TO (First Trust AlphaDEX U.S. Technology Sector Index ETF) are both Technology Equities funds - EDGE.TO tracks the Solactive Global Innovation Index while FHQ.TO tracks the StrataQuant Technology Index. Both are passively managed. Over the past 5 years, EDGE.TO returned 4.25%/yr vs 12.23%/yr for FHQ.TO. A 0.50 correlation means they provide meaningful diversification when combined.

Performance

EDGE.TO vs. FHQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Innovation Index Fund (EDGE.TO) and First Trust AlphaDEX U.S. Technology Sector Index ETF (FHQ.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EDGE.TO achieves a 12.54% return, which is significantly lower than FHQ.TO's 21.36% return.

EDGE.TO

• 1D: -0.33%
• 1M: -3.20%
• 6M: 11.39%
• YTD: 12.54%
• 1Y: 12.02%
• 3Y*: 14.86%
• 5Y*: 4.25%
• 10Y*: —
• ALL TIME*: 11.58%

FHQ.TO

• 1D: -0.83%
• 1M: -4.63%
• 6M: 18.05%
• YTD: 21.36%
• 1Y: 29.09%
• 3Y*: 22.29%
• 5Y*: 12.23%
• 10Y*: 18.65%
• ALL TIME*: 16.78%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EDGE.TO Evolve Innovation Index Fund	CA$27.25K	CA$23.58K	CA$26.33K
FHQ.TO First Trust AlphaDEX U.S. Technology Sector Index ETF	CA$76.36K	CA$134.40K	CA$71.26K

EDGE.TO vs. FHQ.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EDGE.TO Evolve Innovation Index Fund	12.54%	11.95%	17.11%	25.65%	-33.70%	12.46%	55.36%	33.67%	-14.17%
FHQ.TO First Trust AlphaDEX U.S. Technology Sector Index ETF	21.36%	8.42%	25.83%	36.49%	-28.18%	21.01%	47.20%	35.74%	-7.45%

Correlation

The correlation between EDGE.TO and FHQ.TO is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (All Time) Calculated using the full available price history since May 2, 2018	0.50

The correlation between EDGE.TO and FHQ.TO has been stable across timeframes, ranging from 0.46 to 0.53 - a consistent structural relationship.

Return for Risk

EDGE.TO vs. FHQ.TO — Risk / Return Rank

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

EDGE.TO

EDGE.TO Risk / Return Rank: 24
EDGE.TO Sharpe Ratio Rank: 26
EDGE.TO Sortino Ratio Rank: 25
EDGE.TO Omega Ratio Rank: 25
EDGE.TO Calmar Ratio Rank: 23
EDGE.TO Martin Ratio Rank: 22

FHQ.TO

FHQ.TO Risk / Return Rank: 50
FHQ.TO Sharpe Ratio Rank: 47
FHQ.TO Sortino Ratio Rank: 45
FHQ.TO Omega Ratio Rank: 48
FHQ.TO Calmar Ratio Rank: 59
FHQ.TO Martin Ratio Rank: 48

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.

EDGE.TO vs. FHQ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Innovation Index Fund (EDGE.TO) and First Trust AlphaDEX U.S. Technology Sector Index ETF (FHQ.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.

	EDGE.TO	FHQ.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.58	1.15	-0.57
Sortino ratio: Return per unit of downside risk	0.94	1.67	-0.73
Omega ratio: Gain probability vs. loss probability	1.12	1.22	-0.10
Calmar ratio: Return relative to maximum drawdown	0.66	2.09	-1.44
Martin ratio: Return relative to average drawdown	1.55	5.52	-3.97

EDGE.TO vs. FHQ.TO - Sharpe Ratio Comparison

The current EDGE.TO Sharpe Ratio is 0.58, which is lower than the FHQ.TO Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of EDGE.TO and FHQ.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.

Drawdowns

EDGE.TO vs. FHQ.TO - Drawdown Comparison

The maximum EDGE.TO drawdown since its inception was -39.86%, which is greater than FHQ.TO's maximum drawdown of -32.05%. Use the drawdown chart below to compare losses from any high point for EDGE.TO and FHQ.TO.

Drawdown Indicators

	EDGE.TO	FHQ.TO	Difference
Max Drawdown Largest peak-to-trough decline	-39.86%	-32.05%	-7.81%
Max Drawdown (1Y) Largest decline over 1 year	-18.43%	-14.13%	-4.30%
Max Drawdown (3Y) Largest decline over 3 years	-21.92%	-27.64%	+5.72%
Max Drawdown (5Y) Largest decline over 5 years	-39.86%	-32.05%	-7.81%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.05%	—
Current Drawdown Current decline from peak	-9.10%	-8.82%	-0.28%
Average Drawdown Average peak-to-trough decline	-12.84%	-7.63%	-5.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.77%	5.35%	+2.42%

Volatility

EDGE.TO vs. FHQ.TO - Volatility Comparison

The current volatility for Evolve Innovation Index Fund (EDGE.TO) is 6.75%, while First Trust AlphaDEX U.S. Technology Sector Index ETF (FHQ.TO) has a volatility of 10.18%. This indicates that EDGE.TO experiences smaller price fluctuations and is considered to be less risky than FHQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EDGE.TO	FHQ.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.75%	10.18%	-3.43%
Volatility (6M) Calculated over the trailing 6-month period	17.69%	21.29%	-3.60%
Volatility (1Y) Calculated over the trailing 1-year period	20.69%	25.65%	-4.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.81%	23.70%	-0.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.67%	23.37%	+0.30%

Dividends

EDGE.TO vs. FHQ.TO - Dividend Comparison

EDGE.TO's dividend yield for the trailing twelve months is around 0.44%, while FHQ.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EDGE.TO Evolve Innovation Index Fund	0.44%	0.36%	0.53%	0.06%	0.08%	0.05%	0.06%	0.09%	0.09%	0.00%	0.00%	0.00%
FHQ.TO First Trust AlphaDEX U.S. Technology Sector Index ETF	0.00%	0.00%	0.02%	0.00%	0.00%	1.18%	0.43%	0.50%	0.80%	0.83%	1.20%	0.43%

Frequently Asked Questions

Can I hold both EDGE.TO and FHQ.TO in my portfolio?

EDGE.TO and FHQ.TO have a correlation of 0.46, 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 EDGE.TO and FHQ.TO?

EDGE.TO tracks Solactive Global Innovation Index, while FHQ.TO tracks StrataQuant Technology Index. They also come from different issuers: Evolve Funds Group Inc. and First Trust.