ETHX-U.TO vs. NXF.TO

Last updated Jul 1, 2026

ETHX-U.TO (CI Galaxy Ethereum ETF (US$ Series)) and NXF.TO (CI Energy Giants Covered Call ETF Common Units (CAD Hedged)) are both exchange-traded funds - ETHX-U.TO is a Cryptocurrency fund actively managed by CI, while NXF.TO is a Energy Equities fund actively managed by CI. Both are actively managed. Over the past 5 years, ETHX-U.TO returned -7.54%/yr vs 11.08%/yr for NXF.TO. At a 0.14 correlation, their price movements are largely independent.

Performance

ETHX-U.TO vs. NXF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CI Galaxy Ethereum ETF (US$ Series) (ETHX-U.TO) and CI Energy Giants Covered Call ETF Common Units (CAD Hedged) (NXF.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, ETHX-U.TO achieves a -46.97% return, which is significantly lower than NXF.TO's 10.76% return.

ETHX-U.TO

• 1D: -2.51%
• 1M: -21.61%
• YTD: -46.97%
• 6M: -46.77%
• 1Y: -37.56%
• 3Y*: -7.06%
• 5Y*: -7.54%
• 10Y*: —

NXF.TO

• 1D: -0.64%
• 1M: -11.74%
• YTD: 10.76%
• 6M: 10.29%
• 1Y: 19.08%
• 3Y*: 6.87%
• 5Y*: 11.08%
• 10Y*: 5.24%

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

ETHX-U.TO vs. NXF.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ETHX-U.TO CI Galaxy Ethereum ETF (US$ Series)	-46.97%	-11.53%	43.46%	93.31%	-67.94%	63.87%
NXF.TO CI Energy Giants Covered Call ETF Common Units (CAD Hedged)	10.76%	14.31%	-12.02%	9.08%	35.35%	16.12%

Correlation

The correlation between ETHX-U.TO and NXF.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	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (All Time) Calculated using the full available price history since Apr 20, 2021	0.14

The correlation between ETHX-U.TO and NXF.TO shifts across timeframes, from 0.04 (1 year) to 0.14 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

ETHX-U.TO vs. NXF.TO — Risk / Return Rank

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

ETHX-U.TO

ETHX-U.TO Risk / Return Rank: 5
ETHX-U.TO Sharpe Ratio Rank: 5
ETHX-U.TO Sortino Ratio Rank: 6
ETHX-U.TO Omega Ratio Rank: 6
ETHX-U.TO Calmar Ratio Rank: 5
ETHX-U.TO Martin Ratio Rank: 6

NXF.TO

NXF.TO Risk / Return Rank: 35
NXF.TO Sharpe Ratio Rank: 38
NXF.TO Sortino Ratio Rank: 35
NXF.TO Omega Ratio Rank: 34
NXF.TO Calmar Ratio Rank: 30
NXF.TO Martin Ratio Rank: 37

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.

ETHX-U.TO vs. NXF.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Galaxy Ethereum ETF (US$ Series) (ETHX-U.TO) and CI Energy Giants Covered Call ETF Common Units (CAD Hedged) (NXF.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.

	ETHX-U.TO	NXF.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.56	0.94	-1.49
Sortino ratio: Return per unit of downside risk	-0.51	1.35	-1.86
Omega ratio: Gain probability vs. loss probability	0.94	1.16	-0.22
Calmar ratio: Return relative to maximum drawdown	-0.55	0.99	-1.54
Martin ratio: Return relative to average drawdown	-0.90	3.91	-4.80

ETHX-U.TO vs. NXF.TO - Sharpe Ratio Comparison

The current ETHX-U.TO Sharpe Ratio is -0.56, which is lower than the NXF.TO Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of ETHX-U.TO and NXF.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

ETHX-U.TO vs. NXF.TO - Drawdown Comparison

The maximum ETHX-U.TO drawdown since its inception was -79.05%, which is greater than NXF.TO's maximum drawdown of -68.80%. Use the drawdown chart below to compare losses from any high point for ETHX-U.TO and NXF.TO.

Drawdown Indicators

	ETHX-U.TO	NXF.TO	Difference
Max Drawdown Largest peak-to-trough decline	-79.05%	-68.80%	-10.25%
Max Drawdown (1Y) Largest decline over 1 year	-68.04%	-19.43%	-48.61%
Max Drawdown (3Y) Largest decline over 3 years	-68.04%	-27.41%	-40.63%
Max Drawdown (5Y) Largest decline over 5 years	-79.05%	-27.41%	-51.64%
Max Drawdown (10Y) Largest decline over 10 years	—	-68.80%	—
Current Drawdown Current decline from peak	-68.18%	-19.43%	-48.75%
Average Drawdown Average peak-to-trough decline	-46.24%	-18.80%	-27.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	41.96%	4.90%	+37.06%

Volatility

ETHX-U.TO vs. NXF.TO - Volatility Comparison

CI Galaxy Ethereum ETF (US$ Series) (ETHX-U.TO) has a higher volatility of 20.94% compared to CI Energy Giants Covered Call ETF Common Units (CAD Hedged) (NXF.TO) at 6.43%. This indicates that ETHX-U.TO's price experiences larger fluctuations and is considered to be riskier than NXF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETHX-U.TO	NXF.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.94%	6.43%	+14.51%
Volatility (6M) Calculated over the trailing 6-month period	46.21%	16.58%	+29.63%
Volatility (1Y) Calculated over the trailing 1-year period	67.86%	20.45%	+47.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.03%	24.41%	+46.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.85%	27.13%	+46.72%

Dividends

ETHX-U.TO vs. NXF.TO - Dividend Comparison

ETHX-U.TO has not paid dividends to shareholders, while NXF.TO's dividend yield for the trailing twelve months is around 8.91%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ETHX-U.TO CI Galaxy Ethereum ETF (US$ Series)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NXF.TO CI Energy Giants Covered Call ETF Common Units (CAD Hedged)	8.91%	7.70%	8.50%	8.60%	11.22%	9.46%	11.24%	7.83%	9.39%	6.49%	8.24%	8.21%

Frequently Asked Questions

Can I hold both ETHX-U.TO and NXF.TO in my portfolio?

ETHX-U.TO and NXF.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.

What is the main difference between ETHX-U.TO and NXF.TO?

ETHX-U.TO is categorized as Cryptocurrency, while NXF.TO is Energy Equities.