EHE.TO vs. FSF.TO

Last updated Jul 18, 2026

EHE.TO (CI Europe Hedged Equity Index ETF) and FSF.TO (CI Global Financial Sector ETF) are both exchange-traded funds - EHE.TO is a Europe Equities fund tracking the WisdomTree Europe CAD-Hedged Equity Index, while FSF.TO is a Financials Equities fund actively managed by CI. EHE.TO is passively managed, while FSF.TO is actively managed. Over the past 10 years, EHE.TO returned 9.43%/yr vs 21.54%/yr for FSF.TO. At a 0.27 correlation, their price movements are largely independent.

Performance

EHE.TO vs. FSF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Europe Hedged Equity Index ETF (EHE.TO) and CI Global Financial Sector ETF (FSF.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EHE.TO achieves a 7.01% return, which is significantly lower than FSF.TO's 7.53% return. Over the past 10 years, EHE.TO has underperformed FSF.TO with an annualized return of 9.43%, while FSF.TO has yielded a comparatively higher 21.54% annualized return.

EHE.TO

• 1D: 0.43%
• 1M: -0.71%
• 6M: 3.00%
• YTD: 7.01%
• 1Y: 16.75%
• 3Y*: 12.56%
• 5Y*: 9.69%
• 10Y*: 9.43%

FSF.TO

• 1D: 0.49%
• 1M: 3.43%
• 6M: 5.04%
• YTD: 7.53%
• 1Y: 18.90%
• 3Y*: 23.65%
• 5Y*: 12.80%
• 10Y*: 21.54%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EHE.TO CI Europe Hedged Equity Index ETF	7.01%	22.91%	4.19%	22.26%	-10.45%	23.79%	-5.96%	24.49%	-10.68%	15.40%
FSF.TO CI Global Financial Sector ETF	7.53%	20.68%	33.83%	10.49%	-11.77%	30.71%	-1.98%	25.77%	-21.19%	23.28%

Correlation

The correlation between EHE.TO and FSF.TO is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jul 15, 2016	0.27

The correlation between EHE.TO and FSF.TO shifts across timeframes, from 0.27 (all time) to 0.38 (1 year), reflecting how their relationship changes across market environments.

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

Sectors	EHE.TO	FSF.TO
Industrials	22.6%	1.0%
Financial Services	15.1%	98.7%
Consumer Cyclical	13.5%	-
Consumer Defensive	12.4%	-
Technology	12.1%	0.3%
Healthcare	8.1%	-
Basic Materials	6.8%	-
Communication Services	5.6%	-
Energy	3.7%	-
Real Estate	-	-
Utilities	-	-

Return for Risk

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

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

EHE.TO

EHE.TO Risk / Return Rank: 39
EHE.TO Sharpe Ratio Rank: 38
EHE.TO Sortino Ratio Rank: 38
EHE.TO Omega Ratio Rank: 40
EHE.TO Calmar Ratio Rank: 36
EHE.TO Martin Ratio Rank: 44

FSF.TO

FSF.TO Risk / Return Rank: 42
FSF.TO Sharpe Ratio Rank: 47
FSF.TO Sortino Ratio Rank: 47
FSF.TO Omega Ratio Rank: 51
FSF.TO Calmar Ratio Rank: 33
FSF.TO Martin Ratio Rank: 34

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.

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

This table presents a comparison of risk-adjusted performance metrics for CI Europe Hedged Equity Index ETF (EHE.TO) and CI Global Financial Sector ETF (FSF.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.

	EHE.TO	FSF.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.05	1.25	-0.19
Sortino ratio: Return per unit of downside risk	1.59	1.83	-0.24
Omega ratio: Gain probability vs. loss probability	1.20	1.25	-0.04
Calmar ratio: Return relative to maximum drawdown	1.43	1.30	+0.13
Martin ratio: Return relative to average drawdown	5.41	3.82	+1.58

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

The current EHE.TO Sharpe Ratio is 1.05, which is comparable to the FSF.TO Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of EHE.TO and FSF.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

EHE.TO vs. FSF.TO - Drawdown Comparison

The maximum EHE.TO drawdown since its inception was -38.20%, smaller than the maximum FSF.TO drawdown of -73.78%. Use the drawdown chart below to compare losses from any high point for EHE.TO and FSF.TO.

Drawdown Indicators

	EHE.TO	FSF.TO	Difference
Max Drawdown Largest peak-to-trough decline	-38.20%	-73.78%	+35.58%
Max Drawdown (1Y) Largest decline over 1 year	-11.85%	-15.09%	+3.24%
Max Drawdown (3Y) Largest decline over 3 years	-16.30%	-17.26%	+0.96%
Max Drawdown (5Y) Largest decline over 5 years	-22.91%	-26.08%	+3.17%
Max Drawdown (10Y) Largest decline over 10 years	-38.20%	-73.78%	+35.58%
Current Drawdown Current decline from peak	-2.13%	0.00%	-2.13%
Average Drawdown Average peak-to-trough decline	-5.30%	-16.22%	+10.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	5.11%	-1.97%

Volatility

EHE.TO vs. FSF.TO - Volatility Comparison

The current volatility for CI Europe Hedged Equity Index ETF (EHE.TO) is 3.23%, while CI Global Financial Sector ETF (FSF.TO) has a volatility of 4.66%. This indicates that EHE.TO experiences smaller price fluctuations and is considered to be less risky than FSF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EHE.TO	FSF.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.23%	4.66%	-1.43%
Volatility (6M) Calculated over the trailing 6-month period	13.45%	12.94%	+0.51%
Volatility (1Y) Calculated over the trailing 1-year period	16.11%	15.80%	+0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.12%	19.38%	-1.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.42%	212.64%	-195.22%

Dividends

EHE.TO vs. FSF.TO - Dividend Comparison

EHE.TO's dividend yield for the trailing twelve months is around 2.17%, more than FSF.TO's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EHE.TO CI Europe Hedged Equity Index ETF	2.17%	2.16%	4.38%	3.30%	2.19%	1.90%	2.55%	2.02%	2.08%	1.37%	0.13%
FSF.TO CI Global Financial Sector ETF	1.36%	1.28%	1.41%	2.10%	2.35%	0.74%	1.28%	1.91%	2.30%	0.96%	0.79%

Frequently Asked Questions

Can I hold both EHE.TO and FSF.TO in my portfolio?

EHE.TO and FSF.TO have a correlation of 0.38, 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 EHE.TO and FSF.TO?

EHE.TO is categorized as Europe Equities, while FSF.TO is Financials Equities.