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NXF.TO vs. BANK.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NXF.TO vs. BANK.TO

Last updated Jun 4, 2026

NXF.TO (CI Energy Giants Covered Call ETF Common Units (CAD Hedged)) and BANK.TO (Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund) are both exchange-traded funds - NXF.TO is a Energy Equities fund actively managed by CI, while BANK.TO is a Derivative Income fund tracking the Solactive Canadian Core Financials Equal Weight Index. NXF.TO is actively managed, while BANK.TO is passively managed. Over the past 3 years, NXF.TO returned 15.64%/yr vs 33.05%/yr for BANK.TO. At a 0.25 correlation, their price movements are largely independent.

Performance

NXF.TO vs. BANK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Energy Giants Covered Call ETF Common Units (CAD Hedged) (NXF.TO) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, NXF.TO achieves a 32.43% return, which is significantly higher than BANK.TO's 19.17% return.

NXF.TO

1D
1.17%
1M
-2.11%
YTD
32.43%
6M
29.37%
1Y
45.90%
3Y*
15.64%
5Y*
17.39%
10Y*
8.23%

BANK.TO

1D
1.54%
1M
6.90%
YTD
19.17%
6M
23.84%
1Y
57.93%
3Y*
33.05%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022
NXF.TO
CI Energy Giants Covered Call ETF Common Units (CAD Hedged)		32.43%9.19%-4.66%6.48%22.04%
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund		19.17%41.00%27.90%16.23%-20.47%

Correlation

The correlation between NXF.TO and BANK.TO is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.22

Correlation (3Y)
Calculated over the trailing 3-year period

0.12

Correlation (All Time)
Calculated using the full available price history since Feb 3, 2022

0.25

The correlation between NXF.TO and BANK.TO shifts across timeframes, from -0.22 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.

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

Sectors
NXF.TO
BANK.TO

Energy

100.0%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

100.0%

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Energy

NXF.TO
100.0%
BANK.TO

-

Basic Materials

NXF.TO

-

BANK.TO

-

Communication Services

NXF.TO

-

BANK.TO

-

Consumer Cyclical

NXF.TO

-

BANK.TO

-

Consumer Defensive

NXF.TO

-

BANK.TO

-

Financial Services

NXF.TO

-

BANK.TO
100.0%

Healthcare

NXF.TO

-

BANK.TO

-

Industrials

NXF.TO

-

BANK.TO

-

Real Estate

NXF.TO

-

BANK.TO

-

Technology

NXF.TO

-

BANK.TO

-

Utilities

NXF.TO

-

BANK.TO

-

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CI Energy Giants Covered Call ETF Common Units (CAD Hedged)

Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund

Often compared with NXF.TO:
NXF.TO vs. VXM-B.TONXF.TO vs. XEG.TONXF.TO vs. CCOM.TONXF.TO vs. CBCX.TONXF.TO vs. CEQP.TONXF.TO vs. YPLT.NEONXF.TO vs. CBNK.TO
Often compared with BANK.TO:
BANK.TO vs. HMAX.TOBANK.TO vs. HCAL.TOBANK.TO vs. VDY.TOBANK.TO vs. RBNK.TOBANK.TO vs. HYLD.TOBANK.TO vs. VCN.TOBANK.TO vs. VEQT.TO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NXF.TO
NXF.TO Risk / Return Rank: 7373
Overall Rank
NXF.TO Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
NXF.TO Sortino Ratio Rank: 6666
Sortino Ratio Rank
NXF.TO Omega Ratio Rank: 6464
Omega Ratio Rank
NXF.TO Calmar Ratio Rank: 8787
Calmar Ratio Rank
NXF.TO Martin Ratio Rank: 7474
Martin Ratio Rank
BANK.TO
BANK.TO Risk / Return Rank: 9696
Overall Rank
BANK.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
BANK.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
BANK.TO Omega Ratio Rank: 9797
Omega Ratio Rank
BANK.TO Calmar Ratio Rank: 9494
Calmar Ratio Rank
BANK.TO Martin Ratio Rank: 9595
Martin Ratio Rank
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.

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

This table presents a comparison of risk-adjusted performance metrics for CI Energy Giants Covered Call ETF Common Units (CAD Hedged) (NXF.TO) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.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.

NXF.TOBANK.TODifference
Sharpe ratioReturn per unit of total volatility
2.36
4.79

-2.43

Sortino ratioReturn per unit of downside risk
3.03
6.53

-3.49

Omega ratioGain probability vs. loss probability

1.38

1.89

-0.50

Calmar ratioReturn relative to maximum drawdown

4.90

7.08

-2.17

Martin ratioReturn relative to average drawdown

13.97

31.24

-17.27

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current NXF.TO Sharpe Ratio is 2.36, which is lower than the BANK.TO Sharpe Ratio of 4.79. The chart below compares the historical Sharpe Ratios of NXF.TO and BANK.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.

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Sharpe Ratios by Period

NXF.TOBANK.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.36

4.79

-2.43

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.75

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.32

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.22

1.10

-0.88

Drawdowns

NXF.TO vs. BANK.TO - Drawdown Comparison

The maximum NXF.TO drawdown since its inception was -65.25%, which is greater than BANK.TO's maximum drawdown of -29.03%. Use the drawdown chart below to compare losses from any high point for NXF.TO and BANK.TO.

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Drawdown Indicators

NXF.TOBANK.TODifference

Max Drawdown

Largest peak-to-trough decline

-65.25%

-29.03%

-36.22%

Max Drawdown (1Y)

Largest decline over 1 year

-9.41%

-8.23%

-1.18%

Max Drawdown (3Y)

Largest decline over 3 years

-24.26%

-15.49%

-8.77%

Max Drawdown (5Y)

Largest decline over 5 years

-24.26%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-65.25%

—

—

Current Drawdown

Current decline from peak

-5.01%

0.00%

-5.01%

Average Drawdown

Average peak-to-trough decline

-16.04%

-8.80%

-7.24%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.30%

1.86%

+1.44%

Volatility

NXF.TO vs. BANK.TO - Volatility Comparison

CI Energy Giants Covered Call ETF Common Units (CAD Hedged) (NXF.TO) has a higher volatility of 7.55% compared to Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) at 4.43%. This indicates that NXF.TO's price experiences larger fluctuations and is considered to be riskier than BANK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NXF.TOBANK.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

7.55%

4.43%

+3.12%

Volatility (6M)

Calculated over the trailing 6-month period

15.65%

10.53%

+5.12%

Volatility (1Y)

Calculated over the trailing 1-year period

19.57%

12.16%

+7.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.39%

15.66%

+7.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.16%

15.66%

+10.50%

Dividends

NXF.TO vs. BANK.TO - Dividend Comparison

NXF.TO's dividend yield for the trailing twelve months is around 8.04%, less than BANK.TO's 12.82% yield.

PositionTTM20252024202320222021202020192018201720162015
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund		12.82%13.73%15.28%13.60%10.52%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)		8.04%7.70%8.50%8.60%11.22%9.48%11.23%7.83%9.38%6.50%8.24%8.05%

Frequently Asked Questions

NXF.TO and BANK.TO have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

NXF.TO is categorized as Energy Equities, while BANK.TO is Derivative Income. They also come from different issuers: CI and Evolve.

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