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BANK.TO vs. XEG.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BANK.TO vs. XEG.TO

Last updated Aug 2, 2026
Documentation

BANK.TO (Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund) and XEG.TO (iShares S&P/TSX Capped Energy Index ETF) are both exchange-traded funds - BANK.TO is a Derivative Income fund tracking the Solactive Canadian Core Financials Equal Weight Index, while XEG.TO is a Energy Equities fund tracking the S&P/TSX Capped Energy Index. Both are passively managed. Over the past 3 years, BANK.TO returned 35.53%/yr vs 24.75%/yr for XEG.TO. Their 0.21 correlation means their historical movements had little consistent relationship. Both charge a 0.60% expense ratio.

Performance

BANK.TO vs. XEG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) and iShares S&P/TSX Capped Energy Index ETF (XEG.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, BANK.TO achieves a 33.28% return, which is significantly lower than XEG.TO's 46.30% return.

BANK.TO

1D
0.61%
1M
3.03%
6M
35.25%
YTD
33.28%
1Y
70.04%
3Y*
35.53%
5Y*
—
10Y*
—
ALL TIME*
19.46%

XEG.TO

1D
0.69%
1M
15.08%
6M
31.52%
YTD
46.30%
1Y
65.86%
3Y*
24.75%
5Y*
32.72%
10Y*
12.29%
ALL TIME*
4.78%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

BANK.TO

Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund
CA$7.71MCA$6.93MCA$5.91M

XEG.TO

iShares S&P/TSX Capped Energy Index ETF
CA$58.70MCA$53.16MCA$56.38M

BANK.TO vs. XEG.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund		33.28%41.00%27.90%16.23%-20.47%
XEG.TO
iShares S&P/TSX Capped Energy Index ETF		46.30%16.72%14.04%3.55%25.69%

Correlation

The correlation between BANK.TO and XEG.TO is -0.24, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

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

-0.24

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

0.07

Correlation (All Time)
Calculated using the full available price history since Feb 2, 2022

0.21

The correlation between BANK.TO and XEG.TO shifts across timeframes, from -0.24 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.

BANK.TO vs. XEG.TO - Sectors Allocation Comparison

Sectors
BANK.TO
XEG.TO

Financial Services

100.0%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

100.0%

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

BANK.TO
100.0%
XEG.TO

-

Basic Materials

BANK.TO

-

XEG.TO

-

Communication Services

BANK.TO

-

XEG.TO

-

Consumer Cyclical

BANK.TO

-

XEG.TO

-

Consumer Defensive

BANK.TO

-

XEG.TO

-

Energy

BANK.TO

-

XEG.TO
100.0%

Healthcare

BANK.TO

-

XEG.TO

-

Industrials

BANK.TO

-

XEG.TO

-

Real Estate

BANK.TO

-

XEG.TO

-

Technology

BANK.TO

-

XEG.TO

-

Utilities

BANK.TO

-

XEG.TO

-

Compare stocks, funds, or ETFs

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

Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund

iShares S&P/TSX Capped Energy Index ETF

Often compared with BANK.TO:
BANK.TO vs. HMAX.TOBANK.TO vs. HCAL.TOBANK.TO vs. VDY.TOBANK.TO vs. RBNK.TOBANK.TO vs. HYLD.TOBANK.TO vs. VCN.TOBANK.TO vs. VEQT.TO
Often compared with XEG.TO:
XEG.TO vs. XLEXEG.TO vs. XEQT.TOXEG.TO vs. CNQ.TOXEG.TO vs. ZEO.TOXEG.TO vs. HXE.TOXEG.TO vs. XDIV.TOXEG.TO vs. XCG.TO

Return for Risk

BANK.TO vs. XEG.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
BANK.TO
BANK.TO Risk / Return Rank: 9898
Overall Rank
BANK.TO Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
BANK.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
BANK.TO Omega Ratio Rank: 9898
Omega Ratio Rank
BANK.TO Calmar Ratio Rank: 9797
Calmar Ratio Rank
BANK.TO Martin Ratio Rank: 9797
Martin Ratio Rank
XEG.TO
XEG.TO Risk / Return Rank: 8989
Overall Rank
XEG.TO Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
XEG.TO Sortino Ratio Rank: 8989
Sortino Ratio Rank
XEG.TO Omega Ratio Rank: 8989
Omega Ratio Rank
XEG.TO Calmar Ratio Rank: 9090
Calmar Ratio Rank
XEG.TO Martin Ratio Rank: 8484
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.

BANK.TO vs. XEG.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) and iShares S&P/TSX Capped Energy Index ETF (XEG.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.

BANK.TOXEG.TODifference
Sharpe ratioReturn per unit of total volatility
5.12
2.58

+2.55

Sortino ratioReturn per unit of downside risk
6.39
3.09

+3.30

Omega ratioGain probability vs. loss probability

1.92

1.41

+0.51

Calmar ratioReturn relative to maximum drawdown

8.38

3.82

+4.56

Martin ratioReturn relative to average drawdown

36.52

11.60

+24.92

BANK.TO vs. XEG.TO - Sharpe Ratio Comparison

The current BANK.TO Sharpe Ratio is 5.12, which is higher than the XEG.TO Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of BANK.TO and XEG.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

BANK.TO vs. XEG.TO - Drawdown Comparison

The maximum BANK.TO drawdown since its inception was -29.03%, smaller than the maximum XEG.TO drawdown of -87.51%. Use the drawdown chart below to compare losses from any high point for BANK.TO and XEG.TO.

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Drawdown Indicators

BANK.TOXEG.TODifference

Max Drawdown

Largest peak-to-trough decline

-29.03%

-87.51%

+58.48%

Max Drawdown (1Y)

Largest decline over 1 year

-8.27%

-16.47%

+8.20%

Max Drawdown (3Y)

Largest decline over 3 years

-14.49%

-25.67%

+11.18%

Max Drawdown (5Y)

Largest decline over 5 years

—

-28.42%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-79.66%

—

Current Drawdown

Current decline from peak

-0.97%

-2.70%

+1.73%

Average Drawdown

Average peak-to-trough decline

-8.50%

-34.46%

+25.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.90%

5.44%

-3.54%

Volatility

BANK.TO vs. XEG.TO - Volatility Comparison

The current volatility for Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) is 6.14%, while iShares S&P/TSX Capped Energy Index ETF (XEG.TO) has a volatility of 8.21%. This indicates that BANK.TO experiences smaller price fluctuations and is considered to be less risky than XEG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BANK.TOXEG.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.14%

8.21%

-2.07%

Volatility (6M)

Calculated over the trailing 6-month period

11.74%

20.17%

-8.43%

Volatility (1Y)

Calculated over the trailing 1-year period

13.55%

24.45%

-10.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.71%

28.62%

-12.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.71%

33.42%

-17.71%

BANK.TO vs. XEG.TO - Expense Ratio Comparison

Both BANK.TO and XEG.TO have an expense ratio of 0.60%.

Dividends

BANK.TO vs. XEG.TO - Dividend Comparison

BANK.TO's dividend yield for the trailing twelve months is around 12.29%, more than XEG.TO's 2.52% yield.

PositionTTM20252024202320222021202020192018201720162015
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund		12.29%13.73%15.28%13.60%10.52%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XEG.TO
iShares S&P/TSX Capped Energy Index ETF		2.52%3.63%3.46%4.26%3.31%1.64%2.96%2.70%2.25%1.41%1.40%3.58%

Frequently Asked Questions

BANK.TO and XEG.TO have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Both ETFs have the same 0.60% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

BANK.TO and XEG.TO have the same expense ratio: 0.60% per year.

BANK.TO is categorized as Derivative Income, while XEG.TO is Energy Equities. BANK.TO tracks Solactive Canadian Core Financials Equal Weight Index, while XEG.TO tracks S&P/TSX Capped Energy Index. They also come from different issuers: Evolve and iShares.

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