TXF.TO vs. FHI.TO

Last updated Aug 4, 2026

TXF.TO (CI Tech Giants Covered Call Common) and FHI.TO (CI Health Care Giants Covered Call ETF) are both exchange-traded funds - TXF.TO is a Technology Equities fund actively managed by CI, while FHI.TO is a Derivative Income fund actively managed by CI. Both are actively managed. Over the past 5 years, TXF.TO returned 13.49%/yr vs 5.79%/yr for FHI.TO. Their 0.20 correlation means their historical movements had little consistent relationship. Both charge a 0.71% expense ratio.

Performance

TXF.TO vs. FHI.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 CI Health Care Giants Covered Call ETF (FHI.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 higher than FHI.TO's 6.56% 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%

FHI.TO

• 1D: -0.18%
• 1M: 2.27%
• 6M: 5.85%
• YTD: 6.56%
• 1Y: 21.85%
• 3Y*: 6.41%
• 5Y*: 5.79%
• 10Y*: —
• ALL TIME*: 8.55%

*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)
FHI.TO CI Health Care Giants Covered Call ETF	CA$57.94K	CA$52.31K	CA$59.13K
TXF.TO CI Tech Giants Covered Call Common	CA$1.03M	CA$1.20M	CA$865.03K

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TXF.TO CI Tech Giants Covered Call Common	14.26%	24.80%	18.69%	60.80%	-35.54%	26.82%	32.50%	26.56%	-17.29%
FHI.TO CI Health Care Giants Covered Call ETF	6.56%	11.94%	-0.77%	0.77%	1.73%	27.35%	6.25%	23.54%	-3.93%

Correlation

The correlation between TXF.TO and FHI.TO is -0.13, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.13
Correlation (3Y) Balances recent behavior with more history.	0.00
Correlation (5Y) Shows whether the relationship held over a longer period.	0.16
Correlation (All Time) Calculated using the full available price history since Jun 14, 2018	0.20

The correlation between TXF.TO and FHI.TO shifts across timeframes, from -0.13 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.

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

Sectors	TXF.TO	FHI.TO
Technology	92.1%	-
Communication Services	7.9%	-
Financial Services	0.0%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	100.0%
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

TXF.TO vs. FHI.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

FHI.TO

FHI.TO Risk / Return Rank: 68
FHI.TO Sharpe Ratio Rank: 71
FHI.TO Sortino Ratio Rank: 79
FHI.TO Omega Ratio Rank: 71
FHI.TO Calmar Ratio Rank: 71
FHI.TO Martin Ratio Rank: 50

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. FHI.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 CI Health Care Giants Covered Call ETF (FHI.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	FHI.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.64	-0.32
Sortino ratio: Return per unit of downside risk	1.76	2.60	-0.84
Omega ratio: Gain probability vs. loss probability	1.23	1.30	-0.07
Calmar ratio: Return relative to maximum drawdown	1.87	2.52	-0.65
Martin ratio: Return relative to average drawdown	6.35	5.86	+0.50

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

The current TXF.TO Sharpe Ratio is 1.31, which is comparable to the FHI.TO Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of TXF.TO and FHI.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. FHI.TO - Drawdown Comparison

The maximum TXF.TO drawdown since its inception was -41.23%, which is greater than FHI.TO's maximum drawdown of -29.85%. Use the drawdown chart below to compare losses from any high point for TXF.TO and FHI.TO.

Drawdown Indicators

	TXF.TO	FHI.TO	Difference
Max Drawdown Largest peak-to-trough decline	-41.23%	-29.85%	-11.38%
Max Drawdown (1Y) Largest decline over 1 year	-18.27%	-8.87%	-9.40%
Max Drawdown (3Y) Largest decline over 3 years	-27.38%	-14.43%	-12.95%
Max Drawdown (5Y) Largest decline over 5 years	-41.23%	-14.43%	-26.80%
Max Drawdown (10Y) Largest decline over 10 years	-41.23%	—	—
Current Drawdown Current decline from peak	-13.27%	-1.76%	-11.51%
Average Drawdown Average peak-to-trough decline	-6.19%	-4.42%	-1.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.36%	3.80%	+1.56%

Volatility

TXF.TO vs. FHI.TO - Volatility Comparison

CI Tech Giants Covered Call Common (TXF.TO) has a higher volatility of 10.43% compared to CI Health Care Giants Covered Call ETF (FHI.TO) at 4.63%. This indicates that TXF.TO's price experiences larger fluctuations and is considered to be riskier than FHI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TXF.TO	FHI.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.43%	4.63%	+5.80%
Volatility (6M) Calculated over the trailing 6-month period	22.79%	10.12%	+12.67%
Volatility (1Y) Calculated over the trailing 1-year period	25.98%	14.01%	+11.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.68%	14.24%	+11.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.05%	16.54%	+7.51%

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

Both TXF.TO and FHI.TO have an expense ratio of 0.71%.

Dividends

TXF.TO vs. FHI.TO - Dividend Comparison

TXF.TO's dividend yield for the trailing twelve months is around 11.84%, more than FHI.TO's 7.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHI.TO CI Health Care Giants Covered Call ETF	7.34%	7.14%	7.84%	5.80%	5.98%	7.38%	9.69%	5.42%	2.42%	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 FHI.TO in my portfolio?

TXF.TO and FHI.TO have a correlation of -0.13, 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 FHI.TO?

Both ETFs have the same 0.71% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

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

TXF.TO and FHI.TO have the same expense ratio: 0.71% per year.

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

TXF.TO is categorized as Technology Equities, while FHI.TO is Derivative Income.