FSZ.TO vs. TXF.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Fiera Capital Corporation (FSZ.TO) and CI Tech Giants Covered Call Common (TXF.TO).

TXF.TO is an actively managed fund by CI Investments. It was launched on Oct 24, 2011.

Performance

FSZ.TO vs. TXF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fiera Capital Corporation (FSZ.TO) and CI Tech Giants Covered Call Common (TXF.TO). The values are adjusted to include any dividend payments, if applicable.

FSZ.TO vs. TXF.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSZ.TO Fiera Capital Corporation	-12.17%	-25.18%	64.40%	-20.20%	-9.43%	6.43%	0.20%	11.75%	-7.28%	6.99%
TXF.TO CI Tech Giants Covered Call Common	-7.67%	24.81%	18.69%	60.80%	-35.54%	26.82%	32.50%	26.56%	-6.78%	33.65%

Returns By Period

In the year-to-date period, FSZ.TO achieves a -12.17% return, which is significantly lower than TXF.TO's -7.67% return. Over the past 10 years, FSZ.TO has underperformed TXF.TO with an annualized return of -1.01%, while TXF.TO has yielded a comparatively higher 16.06% annualized return.

FSZ.TO

• 1D: 2.10%
• 1M: -6.76%
• YTD: -12.17%
• 6M: -15.01%
• 1Y: -6.47%
• 3Y*: -1.92%
• 5Y*: -3.00%
• 10Y*: -1.01%

TXF.TO

• 1D: 4.32%
• 1M: -4.30%
• YTD: -7.67%
• 6M: -1.64%
• 1Y: 28.97%
• 3Y*: 21.87%
• 5Y*: 11.17%
• 10Y*: 16.06%

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

Return for Risk

FSZ.TO vs. TXF.TO — Risk / Return Rank

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

FSZ.TO

FSZ.TO Risk / Return Rank: 30
FSZ.TO Sharpe Ratio Rank: 31
FSZ.TO Sortino Ratio Rank: 27
FSZ.TO Omega Ratio Rank: 27
FSZ.TO Calmar Ratio Rank: 33
FSZ.TO Martin Ratio Rank: 31

TXF.TO

TXF.TO Risk / Return Rank: 66
TXF.TO Sharpe Ratio Rank: 63
TXF.TO Sortino Ratio Rank: 65
TXF.TO Omega Ratio Rank: 66
TXF.TO Calmar Ratio Rank: 73
TXF.TO Martin Ratio Rank: 65

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.

FSZ.TO vs. TXF.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fiera Capital Corporation (FSZ.TO) and CI Tech Giants Covered Call Common (TXF.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.

	FSZ.TO	TXF.TO	Difference
Sharpe ratio Return per unit of total volatility	-0.23	1.10	-1.33
Sortino ratio Return per unit of downside risk	-0.12	1.65	-1.77
Omega ratio Gain probability vs. loss probability	0.98	1.24	-0.26
Calmar ratio Return relative to maximum drawdown	-0.29	1.88	-2.16
Martin ratio Return relative to average drawdown	-0.63	6.49	-7.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSZ.TO vs. TXF.TO - Sharpe Ratio Comparison

The current FSZ.TO Sharpe Ratio is -0.23, which is lower than the TXF.TO Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of FSZ.TO and TXF.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FSZ.TO	TXF.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.23	1.10	-1.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	0.46	-0.56
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.03	0.69	-0.72
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.68	-0.54

Correlation

The correlation between FSZ.TO and TXF.TO is 0.29, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FSZ.TO vs. TXF.TO - Dividend Comparison

FSZ.TO's dividend yield for the trailing twelve months is around 8.09%, less than TXF.TO's 10.97% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSZ.TO Fiera Capital Corporation	8.09%	8.71%	9.55%	14.12%	9.91%	8.06%	7.87%	7.17%	6.91%	5.38%	4.85%	4.76%
TXF.TO CI Tech Giants Covered Call Common	10.97%	10.59%	9.76%	7.48%	14.13%	7.77%	11.01%	7.29%	9.29%	4.89%	6.16%	6.15%

Drawdowns

FSZ.TO vs. TXF.TO - Drawdown Comparison

The maximum FSZ.TO drawdown since its inception was -87.31%, which is greater than TXF.TO's maximum drawdown of -41.23%. Use the drawdown chart below to compare losses from any high point for FSZ.TO and TXF.TO.

Drawdown Indicators

	FSZ.TO	TXF.TO	Difference
Max Drawdown Largest peak-to-trough decline	-87.31%	-41.23%	-46.08%
Max Drawdown (1Y) Largest decline over 1 year	-23.62%	-15.43%	-8.19%
Max Drawdown (5Y) Largest decline over 5 years	-53.89%	-41.23%	-12.66%
Max Drawdown (10Y) Largest decline over 10 years	-61.45%	-41.23%	-20.22%
Current Drawdown Current decline from peak	-44.42%	-11.78%	-32.64%
Average Drawdown Average peak-to-trough decline	-42.55%	-6.22%	-36.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.75%	4.46%	+6.29%

Volatility

FSZ.TO vs. TXF.TO - Volatility Comparison

The current volatility for Fiera Capital Corporation (FSZ.TO) is 7.18%, while CI Tech Giants Covered Call Common (TXF.TO) has a volatility of 8.58%. This indicates that FSZ.TO experiences smaller price fluctuations and is considered to be less risky than TXF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSZ.TO	TXF.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.18%	8.58%	-1.40%
Volatility (6M) Calculated over the trailing 6-month period	16.40%	16.47%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	28.54%	26.48%	+2.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.27%	24.52%	+4.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.77%	23.41%	+7.36%