BASE.TO vs. XETM.TO

Last updated Jun 24, 2026

BASE.TO (Evolve Global Materials & Mining Enhanced Yield Index ETF) and XETM.TO (iShares S&P/TSX Energy Transition Materials Index ETF) are both Materials funds - BASE.TO tracks the Solactive Materials & Mining while XETM.TO tracks the S&P/TSX Energy Transition Materials Index. Both are passively managed. Their correlation of 0.91 suggests significant overlap in exposure. BASE.TO charges 0.00%/yr vs 0.59%/yr for XETM.TO.

Performance

BASE.TO vs. XETM.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Global Materials & Mining Enhanced Yield Index ETF (BASE.TO) and iShares S&P/TSX Energy Transition Materials Index ETF (XETM.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BASE.TO

• 1D: -2.79%
• 1M: -3.61%
• YTD: 20.51%
• 6M: 17.54%
• 1Y: 47.44%
• 3Y*: 15.57%
• 5Y*: 8.84%
• 10Y*: —

XETM.TO

• 1D: -4.74%
• 1M: -2.13%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BASE.TO vs. XETM.TO - Yearly Performance Comparison

	2026 (YTD)
BASE.TO Evolve Global Materials & Mining Enhanced Yield Index ETF	7.97%
XETM.TO iShares S&P/TSX Energy Transition Materials Index ETF	-4.36%

Correlation

The correlation between BASE.TO and XETM.TO is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 20, 2026	0.91

Return for Risk

BASE.TO vs. XETM.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BASE.TO

BASE.TO Risk / Return Rank: 66
BASE.TO Sharpe Ratio Rank: 69
BASE.TO Sortino Ratio Rank: 62
BASE.TO Omega Ratio Rank: 62
BASE.TO Calmar Ratio Rank: 66
BASE.TO Martin Ratio Rank: 72

XETM.TO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

BASE.TO vs. XETM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Global Materials & Mining Enhanced Yield Index ETF (BASE.TO) and iShares S&P/TSX Energy Transition Materials Index ETF (XETM.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.

	BASE.TO	XETM.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.04	—	—
Sortino ratio: Return per unit of downside risk	2.64	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	3.04	—	—
Martin ratio: Return relative to average drawdown	12.44	—	—

Drawdowns

BASE.TO vs. XETM.TO - Drawdown Comparison

The maximum BASE.TO drawdown since its inception was -33.43%, which is greater than XETM.TO's maximum drawdown of -25.13%. Use the drawdown chart below to compare losses from any high point for BASE.TO and XETM.TO.

Drawdown Indicators

	BASE.TO	XETM.TO	Difference
Max Drawdown Largest peak-to-trough decline	-33.43%	-25.13%	-8.30%
Max Drawdown (1Y) Largest decline over 1 year	-15.68%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-24.11%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-33.43%	—	—
Current Drawdown Current decline from peak	-8.03%	-14.50%	+6.47%
Average Drawdown Average peak-to-trough decline	-9.26%	-9.20%	-0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.82%	—	—

Volatility

Volatility by Period

	BASE.TO	XETM.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.88%	—	—
Volatility (6M) Calculated over the trailing 6-month period	18.86%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	23.41%	50.11%	-26.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.10%	50.11%	-27.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.40%	50.11%	-23.71%

BASE.TO vs. XETM.TO - Expense Ratio Comparison

BASE.TO has a 0.00% expense ratio, which is lower than XETM.TO's 0.59% expense ratio.

Dividends

BASE.TO vs. XETM.TO - Dividend Comparison

BASE.TO's dividend yield for the trailing twelve months is around 8.45%, while XETM.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BASE.TO Evolve Global Materials & Mining Enhanced Yield Index ETF	8.45%	9.55%	11.20%	8.80%	8.96%	5.95%	4.67%	2.88%
XETM.TO iShares S&P/TSX Energy Transition Materials Index ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BASE.TO and XETM.TO in my portfolio?

With a correlation of 0.91, BASE.TO and XETM.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, BASE.TO or XETM.TO?

On fees, BASE.TO is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BASE.TO or XETM.TO?

BASE.TO is cheaper with a 0.00% expense ratio, compared with 0.59% for XETM.TO.

What is the main difference between BASE.TO and XETM.TO?

BASE.TO tracks Solactive Materials & Mining, while XETM.TO tracks S&P/TSX Energy Transition Materials Index. They also come from different issuers: Evolve and iShares. Their fees differ too: 0.00% for BASE.TO and 0.59% for XETM.TO.