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CHE-UN.TO vs. XBM.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CHE-UN.TO vs. XBM.TO

Last updated Jun 5, 2026

CHE-UN.TO (Chemtrade Logistics Income Fund) is a stock, while XBM.TO (iShares S&P/TSX Global Base Metals Index ETF) is Energy Equities fund tracking the Morningstar Can Natural Resource NR CAD. Over the past 10 years, CHE-UN.TO returned 7.48%/yr vs 19.60%/yr for XBM.TO. At a 0.32 correlation, their price movements are largely independent.

Performance

CHE-UN.TO vs. XBM.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Chemtrade Logistics Income Fund (CHE-UN.TO) and iShares S&P/TSX Global Base Metals Index ETF (XBM.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, CHE-UN.TO achieves a 15.34% return, which is significantly lower than XBM.TO's 37.13% return. Over the past 10 years, CHE-UN.TO has underperformed XBM.TO with an annualized return of 7.48%, while XBM.TO has yielded a comparatively higher 19.60% annualized return.

CHE-UN.TO

1D
1.33%
1M
-4.56%
YTD
15.34%
6M
21.31%
1Y
58.29%
3Y*
33.16%
5Y*
25.74%
10Y*
7.48%

XBM.TO

1D
-0.98%
1M
17.57%
YTD
37.13%
6M
44.82%
1Y
114.99%
3Y*
30.22%
5Y*
19.46%
10Y*
19.60%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CHE-UN.TO vs. XBM.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CHE-UN.TO
Chemtrade Logistics Income Fund		15.34%43.14%37.53%1.90%30.66%37.93%-40.45%18.66%-41.30%9.25%
XBM.TO
iShares S&P/TSX Global Base Metals Index ETF		37.13%50.69%5.96%2.84%3.69%32.04%31.54%9.93%-22.39%32.45%

Correlation

The correlation between CHE-UN.TO and XBM.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.18

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

0.32

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

0.37

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

0.34

Correlation (All Time)
Calculated using the full available price history since Apr 20, 2011

0.32

The correlation between CHE-UN.TO and XBM.TO shifts across timeframes, from 0.18 (1 year) to 0.37 (5 years), reflecting how their relationship changes across market environments.

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Chemtrade Logistics Income Fund

iShares S&P/TSX Global Base Metals Index ETF

Often compared with CHE-UN.TO:
CHE-UN.TO vs. EIF.TOCHE-UN.TO vs. TVK.TOCHE-UN.TO vs. ENB.TOCHE-UN.TO vs. IFC.TOCHE-UN.TO vs. HDIV.TOCHE-UN.TO vs. DLOCHE-UN.TO vs. HLF.TO
Often compared with XBM.TO:
XBM.TO vs. XMEXBM.TO vs. ZMT.TOXBM.TO vs. XEG.TOXBM.TO vs. XETM.TOXBM.TO vs. GDXXBM.TO vs. VDEXBM.TO vs. XMA.TO

Return for Risk

CHE-UN.TO vs. XBM.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CHE-UN.TO
CHE-UN.TO Risk / Return Rank: 8585
Overall Rank
CHE-UN.TO Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
CHE-UN.TO Sortino Ratio Rank: 7777
Sortino Ratio Rank
CHE-UN.TO Omega Ratio Rank: 8989
Omega Ratio Rank
CHE-UN.TO Calmar Ratio Rank: 8484
Calmar Ratio Rank
CHE-UN.TO Martin Ratio Rank: 9090
Martin Ratio Rank
XBM.TO
XBM.TO Risk / Return Rank: 8585
Overall Rank
XBM.TO Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
XBM.TO Sortino Ratio Rank: 8181
Sortino Ratio Rank
XBM.TO Omega Ratio Rank: 8080
Omega Ratio Rank
XBM.TO Calmar Ratio Rank: 8787
Calmar Ratio Rank
XBM.TO Martin Ratio Rank: 8787
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.

CHE-UN.TO vs. XBM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Chemtrade Logistics Income Fund (CHE-UN.TO) and iShares S&P/TSX Global Base Metals Index ETF (XBM.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.

CHE-UN.TOXBM.TODifference
Sharpe ratioReturn per unit of total volatility
1.79
3.25

-1.46

Sortino ratioReturn per unit of downside risk
2.09
3.58

-1.49

Omega ratioGain probability vs. loss probability

1.42

1.48

-0.06

Calmar ratioReturn relative to maximum drawdown

3.19

4.84

-1.65

Martin ratioReturn relative to average drawdown

12.49

18.72

-6.23

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

CHE-UN.TO vs. XBM.TO - Sharpe Ratio Comparison

The current CHE-UN.TO Sharpe Ratio is 1.79, which is lower than the XBM.TO Sharpe Ratio of 3.25. The chart below compares the historical Sharpe Ratios of CHE-UN.TO and XBM.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

CHE-UN.TOXBM.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.79

3.25

-1.46

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.89

0.59

+0.30

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.22

0.60

-0.39

Sharpe Ratio (All Time)

Calculated using the full available price history

0.37

0.25

+0.12

Drawdowns

CHE-UN.TO vs. XBM.TO - Drawdown Comparison

The maximum CHE-UN.TO drawdown since its inception was -77.56%, which is greater than XBM.TO's maximum drawdown of -67.40%. Use the drawdown chart below to compare losses from any high point for CHE-UN.TO and XBM.TO.

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Drawdown Indicators

CHE-UN.TOXBM.TODifference

Max Drawdown

Largest peak-to-trough decline

-77.56%

-67.40%

-10.16%

Max Drawdown (1Y)

Largest decline over 1 year

-18.36%

-23.88%

+5.52%

Max Drawdown (3Y)

Largest decline over 3 years

-26.10%

-37.45%

+11.35%

Max Drawdown (5Y)

Largest decline over 5 years

-28.06%

-40.57%

+12.51%

Max Drawdown (10Y)

Largest decline over 10 years

-77.56%

-57.24%

-20.32%

Current Drawdown

Current decline from peak

-8.92%

-4.12%

-4.80%

Average Drawdown

Average peak-to-trough decline

-19.19%

-25.79%

+6.60%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.68%

6.17%

-1.49%

Volatility

CHE-UN.TO vs. XBM.TO - Volatility Comparison

Chemtrade Logistics Income Fund (CHE-UN.TO) and iShares S&P/TSX Global Base Metals Index ETF (XBM.TO) have volatilities of 13.00% and 13.10%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CHE-UN.TOXBM.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

13.00%

13.10%

-0.10%

Volatility (6M)

Calculated over the trailing 6-month period

29.66%

29.71%

-0.05%

Volatility (1Y)

Calculated over the trailing 1-year period

32.73%

35.64%

-2.91%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.04%

33.06%

-4.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

34.79%

32.65%

+2.14%

Dividends

CHE-UN.TO vs. XBM.TO - Dividend Comparison

CHE-UN.TO's dividend yield for the trailing twelve months is around 4.21%, more than XBM.TO's 0.63% yield.

PositionTTM20252024202320222021202020192018201720162015
CHE-UN.TO
Chemtrade Logistics Income Fund		4.21%4.68%6.03%7.04%6.69%8.11%12.01%10.88%11.45%6.19%6.34%6.72%
XBM.TO
iShares S&P/TSX Global Base Metals Index ETF		0.63%0.86%1.25%2.09%4.83%3.01%1.81%3.71%3.43%1.63%2.42%5.70%

Frequently Asked Questions

CHE-UN.TO and XBM.TO have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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