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VE.TO vs. TXF.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VE.TO vs. TXF.TO

Last updated Jun 4, 2026

VE.TO (Vanguard FTSE Developed Europe All Cap Index ETF) and TXF.TO (CI Tech Giants Covered Call Common) are both exchange-traded funds - VE.TO is a Europe Equities fund tracking the FTSE Developed Europe All Cap Index, while TXF.TO is a Technology Equities fund actively managed by CI Investments. VE.TO is passively managed, while TXF.TO is actively managed. Over the past 10 years, VE.TO returned 9.78%/yr vs 19.77%/yr for TXF.TO. A 0.53 correlation means they provide meaningful diversification when combined. VE.TO charges 0.22%/yr vs 0.71%/yr for TXF.TO.

Performance

VE.TO vs. TXF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Developed Europe All Cap Index ETF (VE.TO) and CI Tech Giants Covered Call Common (TXF.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VE.TO achieves a 6.65% return, which is significantly lower than TXF.TO's 31.75% return. Over the past 10 years, VE.TO has underperformed TXF.TO with an annualized return of 9.78%, while TXF.TO has yielded a comparatively higher 19.77% annualized return.

VE.TO

1D
-0.65%
1M
4.95%
YTD
6.65%
6M
8.13%
1Y
18.98%
3Y*
17.46%
5Y*
11.07%
10Y*
9.78%

TXF.TO

1D
0.07%
1M
18.07%
YTD
31.75%
6M
31.92%
1Y
64.62%
3Y*
33.10%
5Y*
18.49%
10Y*
19.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
VE.TO
Vanguard FTSE Developed Europe All Cap Index ETF		6.65%29.58%10.77%16.67%-10.07%15.65%3.00%18.14%-7.96%18.82%
TXF.TO
CI Tech Giants Covered Call Common		31.75%24.81%18.69%60.80%-35.54%26.82%32.50%26.56%-6.78%33.65%

Correlation

The correlation between VE.TO and TXF.TO is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.50

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

0.47

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

0.51

Correlation (10Y)
Calculated over the trailing 10-year period

0.52

Correlation (All Time)
Calculated using the full available price history since Jul 10, 2014

0.53

The correlation between VE.TO and TXF.TO has been stable across timeframes, ranging from 0.47 to 0.53 - a consistent structural relationship.

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

Sectors
VE.TO
TXF.TO

Financial Services

23.6%
0.0%

Industrials

18.9%

-

Healthcare

12.1%

-

Consumer Defensive

8.5%

-

Technology

8.3%
89.0%

Consumer Cyclical

6.8%

-

Basic Materials

5.5%

-

Energy

5.3%

-

Utilities

4.8%

-

Communication Services

3.5%
11.1%

Real Estate

1.5%

-

Financial Services

VE.TO
23.6%
TXF.TO
0.0%

Industrials

VE.TO
18.9%
TXF.TO

-

Healthcare

VE.TO
12.1%
TXF.TO

-

Consumer Defensive

VE.TO
8.5%
TXF.TO

-

Technology

VE.TO
8.3%
TXF.TO
89.0%

Consumer Cyclical

VE.TO
6.8%
TXF.TO

-

Basic Materials

VE.TO
5.5%
TXF.TO

-

Energy

VE.TO
5.3%
TXF.TO

-

Utilities

VE.TO
4.8%
TXF.TO

-

Communication Services

VE.TO
3.5%
TXF.TO
11.1%

Real Estate

VE.TO
1.5%
TXF.TO

-

Compare stocks, funds, or ETFs

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

Vanguard FTSE Developed Europe All Cap Index ETF

CI Tech Giants Covered Call Common

Often compared with VE.TO:
VE.TO vs. VIU.TOVE.TO vs. XEU.TOVE.TO vs. QQQVE.TO vs. VA.TOVE.TO vs. VEAVE.TO vs. XEF.TOVE.TO vs. VXC.TO
Often compared with TXF.TO:
TXF.TO vs. QQQY.TOTXF.TO vs. HDIV.TOTXF.TO vs. QQCL.TOTXF.TO vs. XEQT.TOTXF.TO vs. HXQ.TOTXF.TO vs. VFV.TOTXF.TO vs. HTAE.TO

Return for Risk

VE.TO vs. TXF.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VE.TO
VE.TO Risk / Return Rank: 3434
Overall Rank
VE.TO Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
VE.TO Sortino Ratio Rank: 3535
Sortino Ratio Rank
VE.TO Omega Ratio Rank: 3434
Omega Ratio Rank
VE.TO Calmar Ratio Rank: 3030
Calmar Ratio Rank
VE.TO Martin Ratio Rank: 3737
Martin Ratio Rank
TXF.TO
TXF.TO Risk / Return Rank: 8585
Overall Rank
TXF.TO Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
TXF.TO Sortino Ratio Rank: 8686
Sortino Ratio Rank
TXF.TO Omega Ratio Rank: 8686
Omega Ratio Rank
TXF.TO Calmar Ratio Rank: 8181
Calmar Ratio Rank
TXF.TO Martin Ratio Rank: 7979
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.

VE.TO vs. TXF.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Europe All Cap Index ETF (VE.TO) and CI Tech Giants Covered Call Common (TXF.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.

VE.TOTXF.TODifference
Sharpe ratioReturn per unit of total volatility
1.28
3.24

-1.96

Sortino ratioReturn per unit of downside risk
1.88
3.90

-2.01

Omega ratioGain probability vs. loss probability

1.23

1.53

-0.30

Calmar ratioReturn relative to maximum drawdown

1.50

4.21

-2.71

Martin ratioReturn relative to average drawdown

5.84

15.54

-9.69

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current VE.TO Sharpe Ratio is 1.28, which is lower than the TXF.TO Sharpe Ratio of 3.24. The chart below compares the historical Sharpe Ratios of VE.TO and TXF.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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Sharpe Ratios by Period

VE.TOTXF.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.28

3.24

-1.96

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.74

0.76

-0.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.61

0.84

-0.24

Sharpe Ratio (All Time)

Calculated using the full available price history

0.54

0.81

-0.27

Drawdowns

VE.TO vs. TXF.TO - Drawdown Comparison

The maximum VE.TO drawdown since its inception was -31.66%, smaller than the maximum TXF.TO drawdown of -41.23%. Use the drawdown chart below to compare losses from any high point for VE.TO and TXF.TO.

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Drawdown Indicators

VE.TOTXF.TODifference

Max Drawdown

Largest peak-to-trough decline

-31.66%

-41.23%

+9.57%

Max Drawdown (1Y)

Largest decline over 1 year

-12.68%

-15.43%

+2.75%

Max Drawdown (3Y)

Largest decline over 3 years

-14.67%

-27.38%

+12.71%

Max Drawdown (5Y)

Largest decline over 5 years

-27.26%

-41.23%

+13.97%

Max Drawdown (10Y)

Largest decline over 10 years

-31.66%

-41.23%

+9.57%

Current Drawdown

Current decline from peak

-2.80%

0.00%

-2.80%

Average Drawdown

Average peak-to-trough decline

-5.60%

-6.17%

+0.57%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.26%

4.17%

-0.91%

Volatility

VE.TO vs. TXF.TO - Volatility Comparison

Vanguard FTSE Developed Europe All Cap Index ETF (VE.TO) has a higher volatility of 6.11% compared to CI Tech Giants Covered Call Common (TXF.TO) at 5.71%. This indicates that VE.TO's price experiences larger fluctuations and is considered to be riskier than TXF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VE.TOTXF.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.11%

5.71%

+0.40%

Volatility (6M)

Calculated over the trailing 6-month period

12.48%

16.39%

-3.91%

Volatility (1Y)

Calculated over the trailing 1-year period

14.90%

20.09%

-5.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.04%

24.63%

-9.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.20%

23.54%

-7.34%

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

VE.TO has a 0.22% expense ratio, which is lower than TXF.TO's 0.71% expense ratio.

Dividends

VE.TO vs. TXF.TO - Dividend Comparison

VE.TO's dividend yield for the trailing twelve months is around 2.42%, less than TXF.TO's 9.11% yield.

PositionTTM20252024202320222021202020192018201720162015
TXF.TO
CI Tech Giants Covered Call Common		9.11%10.59%9.76%7.48%14.13%7.77%11.01%7.29%9.29%4.89%6.16%6.15%
VE.TO
Vanguard FTSE Developed Europe All Cap Index ETF		2.42%2.58%2.97%2.97%3.20%2.97%2.41%3.79%3.57%2.22%2.33%2.47%

Frequently Asked Questions

VE.TO and TXF.TO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VE.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VE.TO is cheaper with a 0.22% expense ratio, compared with 0.71% for TXF.TO.

VE.TO is categorized as Europe Equities, while TXF.TO is Technology Equities. They also come from different issuers: Vanguard and CI Investments. Their fees differ too: 0.22% for VE.TO and 0.71% for TXF.TO.

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