TXF.TO vs. FHQ.TO
TXF.TO (CI Tech Giants Covered Call Common) and FHQ.TO (First Trust AlphaDEX U.S. Technology Sector Index ETF) are both Technology Equities funds. TXF.TO is actively managed, while FHQ.TO is passively managed. Over the past 10 years, TXF.TO returned 17.82%/yr vs 18.72%/yr for FHQ.TO. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
TXF.TO vs. FHQ.TO - Performance Comparison
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Returns By Period
In the year-to-date period, TXF.TO achieves a 15.69% return, which is significantly lower than FHQ.TO's 18.48% return. Over the past 10 years, TXF.TO has underperformed FHQ.TO with an annualized return of 17.82%, while FHQ.TO has yielded a comparatively higher 18.72% annualized return.
TXF.TO
- 1D
- -1.01%
- 1M
- -8.60%
- 6M
- 12.82%
- YTD
- 15.69%
- 1Y
- 35.03%
- 3Y*
- 24.60%
- 5Y*
- 14.76%
- 10Y*
- 17.82%
FHQ.TO
- 1D
- -0.81%
- 1M
- -8.00%
- 6M
- 13.04%
- YTD
- 18.48%
- 1Y
- 26.36%
- 3Y*
- 19.74%
- 5Y*
- 12.10%
- 10Y*
- 18.72%
TXF.TO vs. FHQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TXF.TO CI Tech Giants Covered Call Common | 15.69% | 24.80% | 18.69% | 60.80% | -35.54% | 26.82% | 32.50% | 26.56% | -6.78% | 33.65% |
FHQ.TO First Trust AlphaDEX U.S. Technology Sector Index ETF | 18.48% | 8.42% | 25.83% | 36.49% | -28.18% | 21.01% | 47.20% | 35.74% | -0.09% | 23.66% |
Correlation
The correlation between TXF.TO and FHQ.TO is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2014 | 0.51 |
The correlation between TXF.TO and FHQ.TO shifts across timeframes, from 0.49 (1 year) to 0.65 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TXF.TO vs. FHQ.TO — Risk / Return Rank
TXF.TO
FHQ.TO
TXF.TO vs. FHQ.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 First Trust AlphaDEX U.S. Technology Sector Index ETF (FHQ.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 | FHQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.20 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 1.87 | +0.41 |
| Martin ratioReturn relative to average drawdown | 7.49 | 5.06 | +2.42 |
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Drawdowns
TXF.TO vs. FHQ.TO - Drawdown Comparison
The maximum TXF.TO drawdown since its inception was -41.23%, which is greater than FHQ.TO's maximum drawdown of -32.05%. Use the drawdown chart below to compare losses from any high point for TXF.TO and FHQ.TO.
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Drawdown Indicators
| TXF.TO | FHQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.23% | -32.05% | -9.18% |
Max Drawdown (1Y)Largest decline over 1 year | -15.43% | -14.13% | -1.30% |
Max Drawdown (3Y)Largest decline over 3 years | -27.38% | -27.64% | +0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -41.23% | -32.05% | -9.18% |
Max Drawdown (10Y)Largest decline over 10 years | -41.23% | -32.05% | -9.18% |
Current DrawdownCurrent decline from peak | -12.19% | -10.99% | -1.20% |
Average DrawdownAverage peak-to-trough decline | -6.17% | -7.63% | +1.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.69% | 5.22% | -0.53% |
Volatility
TXF.TO vs. FHQ.TO - Volatility Comparison
CI Tech Giants Covered Call Common (TXF.TO) has a higher volatility of 12.32% compared to First Trust AlphaDEX U.S. Technology Sector Index ETF (FHQ.TO) at 10.08%. This indicates that TXF.TO's price experiences larger fluctuations and is considered to be riskier than FHQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TXF.TO | FHQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.32% | 10.08% | +2.24% |
Volatility (6M)Calculated over the trailing 6-month period | 21.78% | 21.35% | +0.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.80% | 25.54% | -0.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.47% | 23.68% | +1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.93% | 23.36% | +0.57% |
Dividends
TXF.TO vs. FHQ.TO - Dividend Comparison
TXF.TO's dividend yield for the trailing twelve months is around 9.82%, while FHQ.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHQ.TO First Trust AlphaDEX U.S. Technology Sector Index ETF | 0.00% | 0.00% | 0.02% | 0.00% | 0.00% | 1.18% | 0.43% | 0.50% | 0.80% | 0.83% | 1.20% | 0.43% |
TXF.TO CI Tech Giants Covered Call Common | 9.82% | 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
TXF.TO and FHQ.TO have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: CI Investments and First Trust.
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