BLDP vs. XEQT.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Ballard Power Systems Inc. (BLDP) and iShares Core Equity ETF Portfolio (XEQT.TO).

XEQT.TO is an actively managed fund by iShares. It was launched on Aug 7, 2019.

Performance

BLDP vs. XEQT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ballard Power Systems Inc. (BLDP) and iShares Core Equity ETF Portfolio (XEQT.TO). The values are adjusted to include any dividend payments, if applicable.

BLDP vs. XEQT.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BLDP Ballard Power Systems Inc.	-4.72%	53.01%	-55.14%	-22.76%	-61.86%	-46.32%	225.91%	68.15%
XEQT.TO iShares Core Equity ETF Portfolio	-0.63%	25.19%	14.53%	19.92%	-16.96%	19.82%	14.06%	12.64%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, BLDP achieves a -4.72% return, which is significantly lower than XEQT.TO's -3.40% return.

BLDP

• 1D: 5.22%
• 1M: 13.08%
• YTD: -4.72%
• 6M: -11.03%
• 1Y: 120.00%
• 3Y*: -24.26%
• 5Y*: -36.88%
• 10Y*: 5.70%

XEQT.TO

• 1D: 0.00%
• 1M: -8.88%
• YTD: -3.40%
• 6M: -0.06%
• 1Y: 20.74%
• 3Y*: 15.91%
• 5Y*: 8.90%
• 10Y*: —

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

Return for Risk

BLDP vs. XEQT.TO — Risk / Return Rank

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

BLDP

BLDP Risk / Return Rank: 82
BLDP Sharpe Ratio Rank: 88
BLDP Sortino Ratio Rank: 87
BLDP Omega Ratio Rank: 81
BLDP Calmar Ratio Rank: 80
BLDP Martin Ratio Rank: 76

XEQT.TO

XEQT.TO Risk / Return Rank: 75
XEQT.TO Sharpe Ratio Rank: 74
XEQT.TO Sortino Ratio Rank: 74
XEQT.TO Omega Ratio Rank: 76
XEQT.TO Calmar Ratio Rank: 73
XEQT.TO Martin Ratio Rank: 79

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.

BLDP vs. XEQT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ballard Power Systems Inc. (BLDP) and iShares Core Equity ETF Portfolio (XEQT.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.

	BLDP	XEQT.TO	Difference
Sharpe ratio Return per unit of total volatility	1.71	1.25	+0.46
Sortino ratio Return per unit of downside risk	2.51	1.80	+0.71
Omega ratio Gain probability vs. loss probability	1.30	1.27	+0.03
Calmar ratio Return relative to maximum drawdown	2.22	1.77	+0.46
Martin ratio Return relative to average drawdown	4.69	8.37	-3.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BLDP vs. XEQT.TO - Sharpe Ratio Comparison

The current BLDP Sharpe Ratio is 1.71, which is higher than the XEQT.TO Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of BLDP and XEQT.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BLDP	XEQT.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	1.25	+0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.56	0.56	-1.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	0.65	-0.67

Correlation

The correlation between BLDP and XEQT.TO is 0.51, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BLDP vs. XEQT.TO - Dividend Comparison

BLDP has not paid dividends to shareholders, while XEQT.TO's dividend yield for the trailing twelve months is around 1.66%.

	TTM	2025	2024	2023	2022	2021	2020	2019
BLDP Ballard Power Systems Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XEQT.TO iShares Core Equity ETF Portfolio	1.66%	1.66%	2.01%	2.07%	2.12%	1.64%	1.66%	1.19%

Drawdowns

BLDP vs. XEQT.TO - Drawdown Comparison

The maximum BLDP drawdown since its inception was -99.55%, which is greater than XEQT.TO's maximum drawdown of -36.14%. Use the drawdown chart below to compare losses from any high point for BLDP and XEQT.TO.

Drawdown Indicators

	BLDP	XEQT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-99.55%	-29.74%	-69.81%
Max Drawdown (1Y) Largest decline over 1 year	-50.50%	-11.78%	-38.72%
Max Drawdown (5Y) Largest decline over 5 years	-95.88%	-19.56%	-76.32%
Max Drawdown (10Y) Largest decline over 10 years	-97.51%	—	—
Current Drawdown Current decline from peak	-98.17%	-5.08%	-93.09%
Average Drawdown Average peak-to-trough decline	-82.12%	-4.20%	-77.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.93%	2.63%	+21.30%

Volatility

BLDP vs. XEQT.TO - Volatility Comparison

Ballard Power Systems Inc. (BLDP) has a higher volatility of 22.17% compared to iShares Core Equity ETF Portfolio (XEQT.TO) at 5.27%. This indicates that BLDP's price experiences larger fluctuations and is considered to be riskier than XEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BLDP	XEQT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.17%	5.27%	+16.90%
Volatility (6M) Calculated over the trailing 6-month period	48.01%	9.64%	+38.37%
Volatility (1Y) Calculated over the trailing 1-year period	70.61%	16.68%	+53.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.31%	16.01%	+50.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.98%	18.72%	+50.26%