NRGY.TO vs. NXF.TO

Last updated Jun 24, 2026

NRGY.TO (Global X Equal Weight Canadian Oil & Gas Index ETF) and NXF.TO (CI Energy Giants Covered Call ETF Common Units (CAD Hedged)) are both Energy Equities funds. NRGY.TO is passively managed, while NXF.TO is actively managed. Over the past year, NRGY.TO returned 44.35% vs 26.56% for NXF.TO. A 0.78 correlation means they provide meaningful diversification when combined.

Performance

NRGY.TO vs. NXF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Equal Weight Canadian Oil & Gas Index ETF (NRGY.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.

Returns By Period

In the year-to-date period, NRGY.TO achieves a 32.04% return, which is significantly higher than NXF.TO's 19.97% return.

NRGY.TO

• 1D: 1.13%
• 1M: -5.98%
• YTD: 32.04%
• 6M: 33.33%
• 1Y: 44.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NXF.TO

• 1D: 0.16%
• 1M: -10.06%
• YTD: 19.97%
• 6M: 21.31%
• 1Y: 26.56%
• 3Y*: 12.09%
• 5Y*: 14.81%
• 10Y*: 7.02%

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

NRGY.TO vs. NXF.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NRGY.TO Global X Equal Weight Canadian Oil & Gas Index ETF	32.04%	14.36%	-2.64%
NXF.TO CI Energy Giants Covered Call ETF Common Units (CAD Hedged)	19.97%	9.09%	-5.80%

Correlation

The correlation between NRGY.TO and NXF.TO is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (All Time) Calculated using the full available price history since Nov 8, 2024	0.78

The correlation between NRGY.TO and NXF.TO has been stable across timeframes, ranging from 0.78 to 0.79 - a consistent structural relationship.

NRGY.TO vs. NXF.TO - Sectors Allocation Comparison

Sectors	NRGY.TO	NXF.TO
Energy	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

NRGY.TO vs. NXF.TO — Risk / Return Rank

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

NRGY.TO

NRGY.TO Risk / Return Rank: 84
NRGY.TO Sharpe Ratio Rank: 86
NRGY.TO Sortino Ratio Rank: 83
NRGY.TO Omega Ratio Rank: 81
NRGY.TO Calmar Ratio Rank: 88
NRGY.TO Martin Ratio Rank: 81

NXF.TO

NXF.TO Risk / Return Rank: 39
NXF.TO Sharpe Ratio Rank: 41
NXF.TO Sortino Ratio Rank: 38
NXF.TO Omega Ratio Rank: 37
NXF.TO Calmar Ratio Rank: 38
NXF.TO Martin Ratio Rank: 43

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.

NRGY.TO vs. NXF.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Equal Weight Canadian Oil & Gas Index ETF (NRGY.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.

	NRGY.TO	NXF.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.60	1.35	+1.24
Sortino ratio: Return per unit of downside risk	3.38	1.85	+1.52
Omega ratio: Gain probability vs. loss probability	1.44	1.23	+0.21
Calmar ratio: Return relative to maximum drawdown	4.74	1.77	+2.97
Martin ratio: Return relative to average drawdown	14.81	6.50	+8.31

NRGY.TO vs. NXF.TO - Sharpe Ratio Comparison

The current NRGY.TO Sharpe Ratio is 2.60, which is higher than the NXF.TO Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of NRGY.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

NRGY.TO vs. NXF.TO - Drawdown Comparison

The maximum NRGY.TO drawdown since its inception was -16.59%, smaller than the maximum NXF.TO drawdown of -65.25%. Use the drawdown chart below to compare losses from any high point for NRGY.TO and NXF.TO.

Drawdown Indicators

	NRGY.TO	NXF.TO	Difference
Max Drawdown Largest peak-to-trough decline	-16.59%	-65.25%	+48.66%
Max Drawdown (1Y) Largest decline over 1 year	-9.49%	-15.04%	+5.55%
Max Drawdown (3Y) Largest decline over 3 years	—	-24.32%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.32%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-65.25%	—
Current Drawdown Current decline from peak	-6.86%	-13.94%	+7.08%
Average Drawdown Average peak-to-trough decline	-3.63%	-15.97%	+12.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	4.10%	-0.94%

Volatility

NRGY.TO vs. NXF.TO - Volatility Comparison

The current volatility for Global X Equal Weight Canadian Oil & Gas Index ETF (NRGY.TO) is 6.29%, while CI Energy Giants Covered Call ETF Common Units (CAD Hedged) (NXF.TO) has a volatility of 6.84%. This indicates that NRGY.TO experiences smaller price fluctuations and is considered to be less risky than NXF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NRGY.TO	NXF.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.29%	6.84%	-0.55%
Volatility (6M) Calculated over the trailing 6-month period	14.57%	16.16%	-1.59%
Volatility (1Y) Calculated over the trailing 1-year period	17.47%	19.93%	-2.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.66%	23.41%	-3.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.66%	26.08%	-6.42%

Dividends

NRGY.TO vs. NXF.TO - Dividend Comparison

NRGY.TO's dividend yield for the trailing twelve months is around 3.20%, less than NXF.TO's 8.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NRGY.TO Global X Equal Weight Canadian Oil & Gas Index ETF	3.20%	3.87%	0.56%	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)	8.88%	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 NRGY.TO and NXF.TO in my portfolio?

NRGY.TO and NXF.TO have a correlation of 0.79, 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 NRGY.TO and NXF.TO?

They also come from different issuers: Global X and CI.