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

WXM.TO vs. TXF.TO

Last updated Aug 4, 2026
Documentation

WXM.TO (CI Morningstar Canada Momentum Index ETF) and TXF.TO (CI Tech Giants Covered Call Common) are both exchange-traded funds - WXM.TO is a Momentum fund tracking the Morningstar Canada Target Momentum Index, while TXF.TO is a Technology Equities fund actively managed by CI. WXM.TO is passively managed, while TXF.TO is actively managed. Over the past 10 years, WXM.TO returned 14.31%/yr vs 17.47%/yr for TXF.TO. Their 0.55 correlation means they have sometimes moved together and sometimes differently. WXM.TO charges 0.65%/yr vs 0.71%/yr for TXF.TO.

Performance

WXM.TO vs. TXF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Morningstar Canada Momentum Index ETF (WXM.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, WXM.TO achieves a 13.16% return, which is significantly lower than TXF.TO's 14.26% return. Over the past 10 years, WXM.TO has underperformed TXF.TO with an annualized return of 14.31%, while TXF.TO has yielded a comparatively higher 17.47% annualized return.

WXM.TO

1D
-0.36%
1M
-3.40%
6M
9.24%
YTD
13.16%
1Y
35.28%
3Y*
26.75%
5Y*
17.32%
10Y*
14.31%
ALL TIME*
13.36%

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%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

TXF.TO

CI Tech Giants Covered Call Common
CA$1.03MCA$1.20MCA$865.03K

WXM.TO

CI Morningstar Canada Momentum Index ETF
CA$2.85MCA$1.77MCA$1.16M

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

2026 (YTD)202520242023202220212020201920182017
WXM.TO
CI Morningstar Canada Momentum Index ETF		13.16%38.16%33.93%3.35%-0.42%20.98%4.61%31.49%-4.88%10.06%
TXF.TO
CI Tech Giants Covered Call Common		14.26%24.80%18.69%60.80%-35.54%26.82%32.50%26.56%-6.78%33.65%

Correlation

The correlation between WXM.TO and TXF.TO is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.61

Correlation (3Y)
Balances recent behavior with more history.

0.56

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.57

Correlation (10Y)
Provides a long-term view across more market conditions.

0.58

Correlation (All Time)
Calculated using the full available price history since Feb 15, 2012

0.55

The correlation between WXM.TO and TXF.TO has been stable across timeframes, ranging from 0.55 to 0.61 - a consistent structural relationship.

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

Sectors
WXM.TO
TXF.TO

Financial Services

17.5%
0.0%

Industrials

17.3%

-

Basic Materials

16.8%

-

Energy

15.1%

-

Consumer Cyclical

9.7%

-

Technology

7.7%
92.1%

Communication Services

6.2%
7.9%

Healthcare

3.5%

-

Real Estate

3.3%

-

Utilities

3.2%

-

Consumer Defensive

0.0%

-

Financial Services

WXM.TO
17.5%
TXF.TO
0.0%

Industrials

WXM.TO
17.3%
TXF.TO

-

Basic Materials

WXM.TO
16.8%
TXF.TO

-

Energy

WXM.TO
15.1%
TXF.TO

-

Consumer Cyclical

WXM.TO
9.7%
TXF.TO

-

Technology

WXM.TO
7.7%
TXF.TO
92.1%

Communication Services

WXM.TO
6.2%
TXF.TO
7.9%

Healthcare

WXM.TO
3.5%
TXF.TO

-

Real Estate

WXM.TO
3.3%
TXF.TO

-

Utilities

WXM.TO
3.2%
TXF.TO

-

Consumer Defensive

WXM.TO
0.0%
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.

CI Morningstar Canada Momentum Index ETF

CI Tech Giants Covered Call Common

Often compared with WXM.TO:
WXM.TO vs. FCCM.NEOWXM.TO vs. VDY.TOWXM.TO vs. VMO.TOWXM.TO vs. XCV.TOWXM.TO vs. FCIM.NEOWXM.TO vs. VXM.TOWXM.TO vs. ZXM.TO
Often compared with TXF.TO:
TXF.TO vs. QQQY.TOTXF.TO vs. QQCL.TOTXF.TO vs. HDIV.TOTXF.TO vs. XEQT.TOTXF.TO vs. HXQ.TOTXF.TO vs. HTAE.TOTXF.TO vs. VFV.TO

Return for Risk

WXM.TO vs. TXF.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
WXM.TO
WXM.TO Risk / Return Rank: 8686
Overall Rank
WXM.TO Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
WXM.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
WXM.TO Omega Ratio Rank: 8484
Omega Ratio Rank
WXM.TO Calmar Ratio Rank: 8989
Calmar Ratio Rank
WXM.TO Martin Ratio Rank: 8989
Martin Ratio Rank
TXF.TO
TXF.TO Risk / Return Rank: 5050
Overall Rank
TXF.TO Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
TXF.TO Sortino Ratio Rank: 4747
Sortino Ratio Rank
TXF.TO Omega Ratio Rank: 4949
Omega Ratio Rank
TXF.TO Calmar Ratio Rank: 5050
Calmar Ratio Rank
TXF.TO Martin Ratio Rank: 5252
Martin Ratio Rank
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.

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

This table presents a comparison of risk-adjusted performance metrics for CI Morningstar Canada Momentum Index ETF (WXM.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.

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.

WXM.TOTXF.TODifference
Sharpe ratioReturn per unit of total volatility
2.17
1.31

+0.86

Sortino ratioReturn per unit of downside risk
2.86
1.76

+1.10

Omega ratioGain probability vs. loss probability

1.37

1.23

+0.14

Calmar ratioReturn relative to maximum drawdown

3.75

1.87

+1.89

Martin ratioReturn relative to average drawdown

14.01

6.35

+7.66

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

The current WXM.TO Sharpe Ratio is 2.17, which is higher than the TXF.TO Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of WXM.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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Drawdowns

WXM.TO vs. TXF.TO - Drawdown Comparison

The maximum WXM.TO drawdown since its inception was -40.45%, roughly equal to the maximum TXF.TO drawdown of -41.23%. Use the drawdown chart below to compare losses from any high point for WXM.TO and TXF.TO.

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Drawdown Indicators

WXM.TOTXF.TODifference

Max Drawdown

Largest peak-to-trough decline

-40.45%

-41.23%

+0.78%

Max Drawdown (1Y)

Largest decline over 1 year

-9.49%

-18.27%

+8.78%

Max Drawdown (3Y)

Largest decline over 3 years

-12.13%

-27.38%

+15.25%

Max Drawdown (5Y)

Largest decline over 5 years

-15.87%

-41.23%

+25.36%

Max Drawdown (10Y)

Largest decline over 10 years

-40.45%

-41.23%

+0.78%

Current Drawdown

Current decline from peak

-5.32%

-13.27%

+7.95%

Average Drawdown

Average peak-to-trough decline

-4.47%

-6.19%

+1.72%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.54%

5.36%

-2.82%

Volatility

WXM.TO vs. TXF.TO - Volatility Comparison

The current volatility for CI Morningstar Canada Momentum Index ETF (WXM.TO) is 4.71%, while CI Tech Giants Covered Call Common (TXF.TO) has a volatility of 10.43%. This indicates that WXM.TO experiences smaller price fluctuations and is considered to be less risky 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

WXM.TOTXF.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.71%

10.43%

-5.72%

Volatility (6M)

Calculated over the trailing 6-month period

13.02%

22.79%

-9.77%

Volatility (1Y)

Calculated over the trailing 1-year period

16.39%

25.98%

-9.59%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.95%

25.68%

-9.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.90%

24.05%

-7.15%

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

WXM.TO has a 0.65% expense ratio, which is lower than TXF.TO's 0.71% expense ratio.

Dividends

WXM.TO vs. TXF.TO - Dividend Comparison

WXM.TO's dividend yield for the trailing twelve months is around 1.19%, less than TXF.TO's 11.84% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
WXM.TO
CI Morningstar Canada Momentum Index ETF		1.19%1.25%1.27%1.38%2.25%1.04%0.78%0.94%1.44%1.38%1.58%1.51%

Frequently Asked Questions

WXM.TO and TXF.TO have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, WXM.TO is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

WXM.TO is cheaper with a 0.65% expense ratio, compared with 0.71% for TXF.TO.

WXM.TO is categorized as Momentum, while TXF.TO is Technology Equities. Their fees differ too: 0.65% for WXM.TO and 0.71% for TXF.TO.

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