TXF.TO vs. VALT.TO
TXF.TO (CI Tech Giants Covered Call Common) and VALT.TO (CI Gold Bullion ETF) are both exchange-traded funds - TXF.TO is a Technology Equities fund actively managed by CI, while VALT.TO is a Gold fund tracking the No Index (Physical Commodity). TXF.TO is actively managed, while VALT.TO is passively managed. Over the past 5 years, TXF.TO returned 13.49%/yr vs 15.89%/yr for VALT.TO. Their 0.09 correlation means their historical movements had little consistent relationship. TXF.TO charges 0.71%/yr vs 0.17%/yr for VALT.TO.
Performance
TXF.TO vs. VALT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, TXF.TO achieves a 14.26% return, which is significantly higher than VALT.TO's -7.03% 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%
VALT.TO
- 1D
- -1.49%
- 1M
- -3.12%
- 6M
- -13.72%
- YTD
- -7.03%
- 1Y
- 18.13%
- 3Y*
- 25.59%
- 5Y*
- 15.89%
- 10Y*
- —
- ALL TIME*
- 13.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$1.03M | CA$1.20M | CA$865.03K | |
VALT.TO CI Gold Bullion ETF | CA$249.71K | CA$225.55K | CA$326.67K |
TXF.TO vs. VALT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TXF.TO CI Tech Giants Covered Call Common | 14.26% | 24.80% | 18.69% | 60.80% | -35.54% | 25.67% |
VALT.TO CI Gold Bullion ETF | -7.03% | 60.46% | 25.58% | 12.35% | 0.92% | -3.19% |
Correlation
The correlation between TXF.TO and VALT.TO is 0.28, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.28 |
Correlation (3Y) Balances recent behavior with more history. | 0.11 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2021 | 0.09 |
The correlation between TXF.TO and VALT.TO shifts across timeframes, from 0.08 (5 years) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TXF.TO vs. VALT.TO — Risk / Return Rank
TXF.TO
VALT.TO
TXF.TO vs. VALT.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 Gold Bullion ETF (VALT.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 | VALT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.15 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | 0.77 | +1.10 |
| Martin ratioReturn relative to average drawdown | 6.35 | 1.65 | +4.71 |
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Drawdowns
TXF.TO vs. VALT.TO - Drawdown Comparison
The maximum TXF.TO drawdown since its inception was -41.23%, which is greater than VALT.TO's maximum drawdown of -27.07%. Use the drawdown chart below to compare losses from any high point for TXF.TO and VALT.TO.
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Drawdown Indicators
| TXF.TO | VALT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.23% | -27.07% | -14.16% |
Max Drawdown (1Y)Largest decline over 1 year | -18.27% | -27.07% | +8.80% |
Max Drawdown (3Y)Largest decline over 3 years | -27.38% | -27.07% | -0.31% |
Max Drawdown (5Y)Largest decline over 5 years | -41.23% | -27.07% | -14.16% |
Max Drawdown (10Y)Largest decline over 10 years | -41.23% | — | — |
Current DrawdownCurrent decline from peak | -13.27% | -25.83% | +12.56% |
Average DrawdownAverage peak-to-trough decline | -6.19% | -6.32% | +0.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.36% | 12.55% | -7.19% |
Volatility
TXF.TO vs. VALT.TO - Volatility Comparison
CI Tech Giants Covered Call Common (TXF.TO) has a higher volatility of 10.43% compared to CI Gold Bullion ETF (VALT.TO) at 6.01%. This indicates that TXF.TO's price experiences larger fluctuations and is considered to be riskier than VALT.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 | VALT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.43% | 6.01% | +4.42% |
Volatility (6M)Calculated over the trailing 6-month period | 22.79% | 21.25% | +1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.98% | 28.27% | -2.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.68% | 18.65% | +7.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.05% | 18.21% | +5.84% |
TXF.TO vs. VALT.TO - Expense Ratio Comparison
TXF.TO has a 0.71% expense ratio, which is higher than VALT.TO's 0.17% expense ratio.
Dividends
TXF.TO vs. VALT.TO - Dividend Comparison
TXF.TO's dividend yield for the trailing twelve months is around 11.84%, while VALT.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VALT.TO CI Gold Bullion ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TXF.TO and VALT.TO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VALT.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VALT.TO is cheaper with a 0.17% expense ratio, compared with 0.71% for TXF.TO.
TXF.TO is categorized as Technology Equities, while VALT.TO is Gold. Their fees differ too: 0.71% for TXF.TO and 0.17% for VALT.TO.
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