TXF.TO vs. CYBR.TO

Last updated Aug 4, 2026

TXF.TO (CI Tech Giants Covered Call Common) and CYBR.TO (Evolve Cyber Security Index Fund - Hedged Units) are both exchange-traded funds - TXF.TO is a Technology Equities fund actively managed by CI, while CYBR.TO is a Cybersecurity fund tracking the Solactive Global Cyber Security Index Canadian Dollar Hedged. TXF.TO is actively managed, while CYBR.TO is passively managed. Over the past 5 years, TXF.TO returned 13.49%/yr vs 6.98%/yr for CYBR.TO. Their 0.62 correlation means they have sometimes moved together and sometimes differently. TXF.TO charges 0.71%/yr vs 0.60%/yr for CYBR.TO.

Performance

TXF.TO vs. CYBR.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Tech Giants Covered Call Common (TXF.TO) and Evolve Cyber Security Index Fund - Hedged Units (CYBR.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TXF.TO achieves a 14.26% return, which is significantly lower than CYBR.TO's 31.37% return.

TXF.TO

• 1D: 0.61%
• 1M: -7.56%
• 6M: 11.76%
• YTD: 14.26%
• 1Y: 36.48%
• 3Y*: 23.28%
• 5Y*: 13.49%
• 10Y*: 17.47%
• ALL TIME*: 15.65%

CYBR.TO

• 1D: 2.50%
• 1M: -3.86%
• 6M: 31.42%
• YTD: 31.37%
• 1Y: 23.21%
• 3Y*: 19.83%
• 5Y*: 6.98%
• 10Y*: —
• ALL TIME*: 14.86%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CYBR.TO Evolve Cyber Security Index Fund - Hedged Units	CA$239.84K	CA$197.23K	CA$250.21K
TXF.TO CI Tech Giants Covered Call Common	CA$1.03M	CA$1.20M	CA$865.03K

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TXF.TO CI Tech Giants Covered Call Common	14.26%	24.80%	18.69%	60.80%	-35.54%	26.82%	32.50%	26.56%	-6.78%	8.34%
CYBR.TO Evolve Cyber Security Index Fund - Hedged Units	31.37%	2.14%	13.45%	44.51%	-37.17%	5.65%	66.41%	24.43%	7.17%	5.29%

Correlation

The correlation between TXF.TO and CYBR.TO is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.54
Correlation (3Y) Balances recent behavior with more history.	0.55
Correlation (5Y) Shows whether the relationship held over a longer period.	0.63
Correlation (All Time) Calculated using the full available price history since Sep 21, 2017	0.62

The correlation between TXF.TO and CYBR.TO has been stable across timeframes, ranging from 0.54 to 0.63 - a consistent structural relationship.

TXF.TO vs. CYBR.TO - Sectors Allocation Comparison

Sectors	TXF.TO	CYBR.TO
Technology	92.1%	87.4%
Communication Services	7.9%	10.0%
Financial Services	0.0%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	2.2%
Real Estate	-	0.4%
Utilities	-	-

Return for Risk

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

Compare historical risk-adjusted metric ranks over the past 12 months.

TXF.TO

TXF.TO Risk / Return Rank: 50
TXF.TO Sharpe Ratio Rank: 51
TXF.TO Sortino Ratio Rank: 47
TXF.TO Omega Ratio Rank: 49
TXF.TO Calmar Ratio Rank: 50
TXF.TO Martin Ratio Rank: 52

CYBR.TO

CYBR.TO Risk / Return Rank: 27
CYBR.TO Sharpe Ratio Rank: 29
CYBR.TO Sortino Ratio Rank: 30
CYBR.TO Omega Ratio Rank: 29
CYBR.TO Calmar Ratio Rank: 25
CYBR.TO Martin Ratio Rank: 22

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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

This table presents a comparison of risk-adjusted performance metrics for CI Tech Giants Covered Call Common (TXF.TO) and Evolve Cyber Security Index Fund - Hedged Units (CYBR.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.

	TXF.TO	CYBR.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.31	0.71	+0.61
Sortino ratio: Return per unit of downside risk	1.76	1.14	+0.62
Omega ratio: Gain probability vs. loss probability	1.23	1.14	+0.09
Calmar ratio: Return relative to maximum drawdown	1.87	0.76	+1.11
Martin ratio: Return relative to average drawdown	6.35	1.59	+4.77

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

The current TXF.TO Sharpe Ratio is 1.31, which is higher than the CYBR.TO Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of TXF.TO and CYBR.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

TXF.TO vs. CYBR.TO - Drawdown Comparison

The maximum TXF.TO drawdown since its inception was -41.23%, smaller than the maximum CYBR.TO drawdown of -44.40%. Use the drawdown chart below to compare losses from any high point for TXF.TO and CYBR.TO.

Drawdown Indicators

	TXF.TO	CYBR.TO	Difference
Max Drawdown Largest peak-to-trough decline	-41.23%	-44.40%	+3.17%
Max Drawdown (1Y) Largest decline over 1 year	-18.27%	-28.10%	+9.83%
Max Drawdown (3Y) Largest decline over 3 years	-27.38%	-28.10%	+0.72%
Max Drawdown (5Y) Largest decline over 5 years	-41.23%	-44.40%	+3.17%
Max Drawdown (10Y) Largest decline over 10 years	-41.23%	—	—
Current Drawdown Current decline from peak	-13.27%	-7.21%	-6.06%
Average Drawdown Average peak-to-trough decline	-6.19%	-12.68%	+6.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.36%	13.35%	-7.99%

Volatility

TXF.TO vs. CYBR.TO - Volatility Comparison

CI Tech Giants Covered Call Common (TXF.TO) has a higher volatility of 10.43% compared to Evolve Cyber Security Index Fund - Hedged Units (CYBR.TO) at 8.61%. This indicates that TXF.TO's price experiences larger fluctuations and is considered to be riskier than CYBR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TXF.TO	CYBR.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.43%	8.61%	+1.82%
Volatility (6M) Calculated over the trailing 6-month period	22.79%	25.60%	-2.81%
Volatility (1Y) Calculated over the trailing 1-year period	25.98%	29.98%	-4.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.68%	27.91%	-2.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.05%	26.64%	-2.59%

TXF.TO vs. CYBR.TO - Expense Ratio Comparison

TXF.TO has a 0.71% expense ratio, which is higher than CYBR.TO's 0.60% expense ratio.

Dividends

TXF.TO vs. CYBR.TO - Dividend Comparison

TXF.TO's dividend yield for the trailing twelve months is around 11.84%, more than CYBR.TO's 0.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CYBR.TO Evolve Cyber Security Index Fund - Hedged Units	0.18%	0.23%	0.24%	0.27%	0.39%	0.22%	0.13%	0.21%	0.26%	0.00%	0.00%	0.00%
TXF.TO CI Tech Giants Covered Call Common	11.84%	10.59%	9.75%	7.48%	14.13%	7.77%	11.01%	7.29%	9.29%	4.89%	6.16%	6.15%

Frequently Asked Questions

Can I hold both TXF.TO and CYBR.TO in my portfolio?

TXF.TO and CYBR.TO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TXF.TO or CYBR.TO?

On fees, CYBR.TO is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TXF.TO or CYBR.TO?

CYBR.TO is cheaper with a 0.60% expense ratio, compared with 0.71% for TXF.TO.

What is the main difference between TXF.TO and CYBR.TO?

TXF.TO is categorized as Technology Equities, while CYBR.TO is Cybersecurity. They also come from different issuers: CI and Evolve. Their fees differ too: 0.71% for TXF.TO and 0.60% for CYBR.TO.