ELFY vs. TPZ.TO

Last updated Jun 4, 2026

ELFY (ALPS Electrification Infrastructure ETF) is Utilities Equities fund tracking the Ladenburg Thalmann Electrification Infrastructure Index, while TPZ.TO (Topaz Energy Corp.) is a stock. Over the past year, ELFY returned 47.53% vs 33.09% for TPZ.TO. At a 0.11 correlation, their price movements are largely independent.

Performance

ELFY vs. TPZ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Electrification Infrastructure ETF (ELFY) and Topaz Energy Corp. (TPZ.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ELFY is traded in USD, while TPZ.TO is traded in CAD. To make them comparable, the TPZ.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ELFY achieves a 29.07% return, which is significantly higher than TPZ.TO's 18.59% return.

ELFY

• 1D: -0.67%
• 1M: 3.53%
• YTD: 29.07%
• 6M: 26.90%
• 1Y: 47.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TPZ.TO

• 1D: -0.28%
• 1M: 1.65%
• YTD: 18.59%
• 6M: 16.59%
• 1Y: 33.09%
• 3Y*: 20.52%
• 5Y*: 20.47%
• 10Y*: —

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

ELFY vs. TPZ.TO - Yearly Performance Comparison

	2026 (YTD)	2025
ELFY ALPS Electrification Infrastructure ETF	29.07%	35.82%
TPZ.TO Topaz Energy Corp.	18.59%	34.28%

Correlation

The correlation between ELFY and TPZ.TO is 0.06, 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	0.06
Correlation (All Time) Calculated using the full available price history since Apr 11, 2025	0.11

Return for Risk

ELFY vs. TPZ.TO — Risk / Return Rank

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

ELFY

ELFY Risk / Return Rank: 79
ELFY Sharpe Ratio Rank: 77
ELFY Sortino Ratio Rank: 73
ELFY Omega Ratio Rank: 69
ELFY Calmar Ratio Rank: 90
ELFY Martin Ratio Rank: 86

TPZ.TO

TPZ.TO Risk / Return Rank: 83
TPZ.TO Sharpe Ratio Rank: 85
TPZ.TO Sortino Ratio Rank: 81
TPZ.TO Omega Ratio Rank: 79
TPZ.TO Calmar Ratio Rank: 88
TPZ.TO Martin Ratio Rank: 84

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.

ELFY vs. TPZ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Electrification Infrastructure ETF (ELFY) and Topaz Energy Corp. (TPZ.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.

	ELFY	TPZ.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.52	1.67	+0.86
Sortino ratio: Return per unit of downside risk	3.33	2.26	+1.07
Omega ratio: Gain probability vs. loss probability	1.42	1.28	+0.14
Calmar ratio: Return relative to maximum drawdown	5.70	3.57	+2.14
Martin ratio: Return relative to average drawdown	18.16	7.50	+10.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ELFY vs. TPZ.TO - Sharpe Ratio Comparison

The current ELFY Sharpe Ratio is 2.52, which is higher than the TPZ.TO Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of ELFY and TPZ.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

	ELFY	TPZ.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	1.67	+0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.36	0.88	+2.48

Drawdowns

ELFY vs. TPZ.TO - Drawdown Comparison

The maximum ELFY drawdown since its inception was -8.37%, smaller than the maximum TPZ.TO drawdown of -28.35%. Use the drawdown chart below to compare losses from any high point for ELFY and TPZ.TO.

Drawdown Indicators

	ELFY	TPZ.TO	Difference
Max Drawdown Largest peak-to-trough decline	-8.37%	-28.35%	+19.98%
Max Drawdown (1Y) Largest decline over 1 year	-8.37%	-9.32%	+0.95%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.21%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-28.35%	—
Current Drawdown Current decline from peak	-0.67%	-3.53%	+2.86%
Average Drawdown Average peak-to-trough decline	-1.60%	-8.90%	+7.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	4.42%	-1.80%

Volatility

ELFY vs. TPZ.TO - Volatility Comparison

ALPS Electrification Infrastructure ETF (ELFY) has a higher volatility of 7.28% compared to Topaz Energy Corp. (TPZ.TO) at 5.81%. This indicates that ELFY's price experiences larger fluctuations and is considered to be riskier than TPZ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ELFY	TPZ.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.28%	5.81%	+1.47%
Volatility (6M) Calculated over the trailing 6-month period	14.87%	15.27%	-0.40%
Volatility (1Y) Calculated over the trailing 1-year period	18.98%	19.95%	-0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.99%	27.07%	-8.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.99%	26.37%	-7.38%

Dividends

ELFY vs. TPZ.TO - Dividend Comparison

ELFY's dividend yield for the trailing twelve months is around 0.82%, less than TPZ.TO's 4.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
ELFY ALPS Electrification Infrastructure ETF	0.82%	0.76%	0.00%	0.00%	0.00%	0.00%	0.00%
TPZ.TO Topaz Energy Corp.	4.16%	4.90%	4.67%	6.30%	5.21%	4.76%	1.47%

Frequently Asked Questions

Can I hold both ELFY and TPZ.TO in my portfolio?

ELFY and TPZ.TO have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.