TXF.TO vs. LEAD.TO

Last updated Aug 4, 2026

TXF.TO (CI Tech Giants Covered Call Common) and LEAD.TO (Evolve Future Leadership Fund) are both exchange-traded funds - TXF.TO is a Technology Equities fund actively managed by CI, while LEAD.TO is a Global Equities fund actively managed by Evolve. Both are actively managed. Over the past 5 years, TXF.TO returned 13.49%/yr vs 5.32%/yr for LEAD.TO. Their 0.46 correlation means their historical movements had little consistent relationship. TXF.TO charges 0.71%/yr vs 0.92%/yr for LEAD.TO.

Performance

TXF.TO vs. LEAD.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 Future Leadership Fund (LEAD.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 LEAD.TO's -6.49% 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%

LEAD.TO

• 1D: 0.05%
• 1M: -4.85%
• 6M: -0.18%
• YTD: -6.49%
• 1Y: -4.51%
• 3Y*: 16.68%
• 5Y*: 5.32%
• 10Y*: —
• ALL TIME*: 8.14%

*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)
LEAD.TO Evolve Future Leadership Fund	CA$2.86K	CA$6.53K	CA$6.70K
TXF.TO CI Tech Giants Covered Call Common	CA$1.03M	CA$1.20M	CA$865.03K

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TXF.TO CI Tech Giants Covered Call Common	14.26%	24.80%	18.69%	60.80%	-35.54%	26.82%	13.70%
LEAD.TO Evolve Future Leadership Fund	-6.49%	12.13%	38.23%	34.98%	-34.79%	14.98%	7.95%

Correlation

The correlation between TXF.TO and LEAD.TO is 0.41, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.41
Correlation (3Y) Balances recent behavior with more history.	0.40
Correlation (5Y) Shows whether the relationship held over a longer period.	0.45
Correlation (All Time) Calculated using the full available price history since Sep 14, 2020	0.46

Return for Risk

TXF.TO vs. LEAD.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

LEAD.TO

LEAD.TO Risk / Return Rank: 8
LEAD.TO Sharpe Ratio Rank: 7
LEAD.TO Sortino Ratio Rank: 7
LEAD.TO Omega Ratio Rank: 7
LEAD.TO Calmar Ratio Rank: 8
LEAD.TO Martin Ratio Rank: 8

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. LEAD.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 Future Leadership Fund (LEAD.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	LEAD.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.31	-0.25	+1.56
Sortino ratio: Return per unit of downside risk	1.76	-0.22	+1.98
Omega ratio: Gain probability vs. loss probability	1.23	0.97	+0.26
Calmar ratio: Return relative to maximum drawdown	1.87	-0.21	+2.07
Martin ratio: Return relative to average drawdown	6.35	-0.45	+6.81

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

The current TXF.TO Sharpe Ratio is 1.31, which is higher than the LEAD.TO Sharpe Ratio of -0.25. The chart below compares the historical Sharpe Ratios of TXF.TO and LEAD.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. LEAD.TO - Drawdown Comparison

The maximum TXF.TO drawdown since its inception was -41.23%, roughly equal to the maximum LEAD.TO drawdown of -39.80%. Use the drawdown chart below to compare losses from any high point for TXF.TO and LEAD.TO.

Drawdown Indicators

	TXF.TO	LEAD.TO	Difference
Max Drawdown Largest peak-to-trough decline	-41.23%	-39.80%	-1.43%
Max Drawdown (1Y) Largest decline over 1 year	-18.27%	-22.65%	+4.38%
Max Drawdown (3Y) Largest decline over 3 years	-27.38%	-22.65%	-4.73%
Max Drawdown (5Y) Largest decline over 5 years	-41.23%	-39.80%	-1.43%
Max Drawdown (10Y) Largest decline over 10 years	-41.23%	—	—
Current Drawdown Current decline from peak	-13.27%	-11.53%	-1.74%
Average Drawdown Average peak-to-trough decline	-6.19%	-13.80%	+7.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.36%	10.25%	-4.89%

Volatility

TXF.TO vs. LEAD.TO - Volatility Comparison

CI Tech Giants Covered Call Common (TXF.TO) has a higher volatility of 10.43% compared to Evolve Future Leadership Fund (LEAD.TO) at 4.71%. This indicates that TXF.TO's price experiences larger fluctuations and is considered to be riskier than LEAD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TXF.TO	LEAD.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.43%	4.71%	+5.72%
Volatility (6M) Calculated over the trailing 6-month period	22.79%	14.84%	+7.95%
Volatility (1Y) Calculated over the trailing 1-year period	25.98%	18.65%	+7.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.68%	21.78%	+3.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.05%	21.00%	+3.05%

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

TXF.TO has a 0.71% expense ratio, which is lower than LEAD.TO's 0.92% expense ratio.

Dividends

TXF.TO vs. LEAD.TO - Dividend Comparison

TXF.TO's dividend yield for the trailing twelve months is around 11.84%, less than LEAD.TO's 12.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LEAD.TO Evolve Future Leadership Fund	12.34%	9.21%	5.84%	7.25%	9.02%	5.44%	1.48%	0.00%	0.00%	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 LEAD.TO in my portfolio?

TXF.TO and LEAD.TO have a correlation of 0.41, 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 LEAD.TO?

On fees, TXF.TO is cheaper at 0.71% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

TXF.TO is cheaper with a 0.71% expense ratio, compared with 0.92% for LEAD.TO.

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

TXF.TO is categorized as Technology Equities, while LEAD.TO is Global Equities. They also come from different issuers: CI and Evolve. Their fees differ too: 0.71% for TXF.TO and 0.92% for LEAD.TO.