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VALT-U.TO vs. EHE.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VALT-U.TO vs. EHE.TO

Last updated Jul 1, 2026
See Documentation

VALT-U.TO (CI Gold Bullion ETF (US$ Series)) and EHE.TO (CI Europe Hedged Equity Index ETF) are both exchange-traded funds - VALT-U.TO is a Gold fund actively managed by CI, while EHE.TO is a Europe Equities fund tracking the WisdomTree Europe CAD-Hedged Equity Index. VALT-U.TO is actively managed, while EHE.TO is passively managed. Over the past 5 years, VALT-U.TO returned 17.66%/yr vs 6.94%/yr for EHE.TO. At a 0.11 correlation, their price movements are largely independent.

Performance

VALT-U.TO vs. EHE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CI Gold Bullion ETF (US$ Series) (VALT-U.TO) and CI Europe Hedged Equity Index ETF (EHE.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

VALT-U.TO is traded in USD, while EHE.TO is traded in CAD. To make them comparable, the EHE.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VALT-U.TO achieves a -6.39% return, which is significantly lower than EHE.TO's 3.59% return.

VALT-U.TO

1D
0.73%
1M
-11.06%
YTD
-6.39%
6M
-7.30%
1Y
22.84%
3Y*
28.29%
5Y*
17.66%
10Y*
—

EHE.TO

1D
0.83%
1M
-1.46%
YTD
3.59%
6M
4.08%
1Y
13.49%
3Y*
11.05%
5Y*
6.94%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VALT-U.TO vs. EHE.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021
VALT-U.TO
CI Gold Bullion ETF (US$ Series)		-6.39%65.42%26.27%13.43%-0.93%-1.30%
EHE.TO
CI Europe Hedged Equity Index ETF		3.59%28.79%-3.94%25.24%-15.79%20.81%

Correlation

The correlation between VALT-U.TO and EHE.TO is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.02

Correlation (3Y)
Calculated over the trailing 3-year period

0.08

Correlation (5Y)
Calculated over the trailing 5-year period

0.12

Correlation (All Time)
Calculated using the full available price history since Jan 14, 2021

0.11

The correlation between VALT-U.TO and EHE.TO shifts across timeframes, from -0.02 (1 year) to 0.12 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

CI Gold Bullion ETF (US$ Series)

CI Europe Hedged Equity Index ETF

Often compared with EHE.TO:
EHE.TO vs. VXM-B.TOEHE.TO vs. XEH.TOEHE.TO vs. CCOM.TOEHE.TO vs. ZEQ.TOEHE.TO vs. CBCX.TOEHE.TO vs. CEQT.TOEHE.TO vs. CGXF.TO

Return for Risk

VALT-U.TO vs. EHE.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VALT-U.TO
VALT-U.TO Risk / Return Rank: 2121
Overall Rank
VALT-U.TO Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
VALT-U.TO Sortino Ratio Rank: 2121
Sortino Ratio Rank
VALT-U.TO Omega Ratio Rank: 3131
Omega Ratio Rank
VALT-U.TO Calmar Ratio Rank: 1717
Calmar Ratio Rank
VALT-U.TO Martin Ratio Rank: 1717
Martin Ratio Rank
EHE.TO
EHE.TO Risk / Return Rank: 4040
Overall Rank
EHE.TO Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
EHE.TO Sortino Ratio Rank: 4040
Sortino Ratio Rank
EHE.TO Omega Ratio Rank: 4040
Omega Ratio Rank
EHE.TO Calmar Ratio Rank: 3838
Calmar Ratio Rank
EHE.TO Martin Ratio Rank: 4444
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VALT-U.TO vs. EHE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Gold Bullion ETF (US$ Series) (VALT-U.TO) and CI Europe Hedged Equity Index ETF (EHE.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.

VALT-U.TOEHE.TODifference
Sharpe ratioReturn per unit of total volatility
0.56
0.92

-0.36

Sortino ratioReturn per unit of downside risk
1.05
1.39

-0.34

Omega ratioGain probability vs. loss probability

1.19

1.17

+0.01

Calmar ratioReturn relative to maximum drawdown

0.60

1.27

-0.66

Martin ratioReturn relative to average drawdown

1.61

4.60

-2.99

VALT-U.TO vs. EHE.TO - Sharpe Ratio Comparison

The current VALT-U.TO Sharpe Ratio is 0.56, which is lower than the EHE.TO Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of VALT-U.TO and EHE.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.

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Drawdowns

VALT-U.TO vs. EHE.TO - Drawdown Comparison

The maximum VALT-U.TO drawdown since its inception was -38.65%, smaller than the maximum EHE.TO drawdown of -43.55%. Use the drawdown chart below to compare losses from any high point for VALT-U.TO and EHE.TO.

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Drawdown Indicators

VALT-U.TOEHE.TODifference

Max Drawdown

Largest peak-to-trough decline

-38.65%

-43.55%

+4.90%

Max Drawdown (1Y)

Largest decline over 1 year

-38.65%

-12.42%

-26.23%

Max Drawdown (3Y)

Largest decline over 3 years

-38.65%

-16.58%

-22.07%

Max Drawdown (5Y)

Largest decline over 5 years

-38.65%

-28.68%

-9.97%

Current Drawdown

Current decline from peak

-37.72%

-2.94%

-34.78%

Average Drawdown

Average peak-to-trough decline

-6.11%

-6.99%

+0.88%

Ulcer Index

Depth and duration of drawdowns from previous peaks

14.30%

3.41%

+10.89%

Volatility

VALT-U.TO vs. EHE.TO - Volatility Comparison

CI Gold Bullion ETF (US$ Series) (VALT-U.TO) has a higher volatility of 8.30% compared to CI Europe Hedged Equity Index ETF (EHE.TO) at 5.23%. This indicates that VALT-U.TO's price experiences larger fluctuations and is considered to be riskier than EHE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VALT-U.TOEHE.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

8.30%

5.23%

+3.07%

Volatility (6M)

Calculated over the trailing 6-month period

39.00%

14.09%

+24.91%

Volatility (1Y)

Calculated over the trailing 1-year period

41.49%

17.16%

+24.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.08%

20.45%

+2.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.39%

19.72%

+2.67%

Dividends

VALT-U.TO vs. EHE.TO - Dividend Comparison

VALT-U.TO has not paid dividends to shareholders, while EHE.TO's dividend yield for the trailing twelve months is around 2.16%.

PositionTTM2025202420232022202120202019201820172016
EHE.TO
CI Europe Hedged Equity Index ETF		2.16%2.16%4.38%3.30%2.19%1.90%2.55%2.02%2.08%1.37%0.13%
VALT-U.TO
CI Gold Bullion ETF (US$ Series)		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

VALT-U.TO and EHE.TO have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VALT-U.TO is categorized as Gold, while EHE.TO is Europe Equities.

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