CNI vs. XLE
CNI (Canadian National Railway Company) is a stock, while XLE (State Street Energy Select Sector SPDR ETF) is Energy Equities fund tracking the Energy Select Sector Index. Over the past 10 years, CNI returned 9.36%/yr vs 9.42%/yr for XLE. At a 0.41 correlation, their price movements are largely independent.
Performance
CNI vs. XLE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with CNI having a 28.26% return and XLE slightly higher at 28.66%. Both investments have delivered pretty close results over the past 10 years, with CNI having a 9.36% annualized return and XLE not far ahead at 9.42%.
CNI
- 1D
- 0.73%
- 1M
- 5.32%
- 6M
- 28.13%
- YTD
- 28.26%
- 1Y
- 22.12%
- 3Y*
- 4.27%
- 5Y*
- 5.68%
- 10Y*
- 9.36%
XLE
- 1D
- 3.01%
- 1M
- -0.70%
- 6M
- 24.13%
- YTD
- 28.66%
- 1Y
- 31.29%
- 3Y*
- 15.32%
- 5Y*
- 21.79%
- 10Y*
- 9.42%
CNI vs. XLE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNI Canadian National Railway Company | 28.26% | -0.10% | -17.51% | 7.84% | -1.86% | 13.70% | 23.66% | 24.26% | -8.49% | 25.03% |
XLE State Street Energy Select Sector SPDR ETF | 28.66% | 7.88% | 5.56% | -0.63% | 64.32% | 53.28% | -32.67% | 11.74% | -18.22% | -0.89% |
Correlation
The correlation between CNI and XLE is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 1998 | 0.41 |
Over the past year, the correlation between CNI and XLE has dropped to 0.08 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.
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Return for Risk
CNI vs. XLE — Risk / Return Rank
CNI
XLE
CNI vs. XLE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian National Railway Company (CNI) and State Street Energy Select Sector SPDR ETF (XLE). 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.
| CNI | XLE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.25 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.80 | 2.10 | -0.30 |
| Martin ratioReturn relative to average drawdown | 3.59 | 5.70 | -2.11 |
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Drawdowns
CNI vs. XLE - Drawdown Comparison
The maximum CNI drawdown since its inception was -46.66%, smaller than the maximum XLE drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for CNI and XLE.
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Drawdown Indicators
| CNI | XLE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.66% | -71.26% | +24.60% |
Max Drawdown (1Y)Largest decline over 1 year | -12.37% | -14.98% | +2.61% |
Max Drawdown (3Y)Largest decline over 3 years | -29.14% | -20.14% | -9.00% |
Max Drawdown (5Y)Largest decline over 5 years | -29.14% | -26.04% | -3.10% |
Max Drawdown (10Y)Largest decline over 10 years | -29.15% | -66.81% | +37.66% |
Current DrawdownCurrent decline from peak | -0.52% | -8.65% | +8.13% |
Average DrawdownAverage peak-to-trough decline | -9.48% | -17.95% | +8.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.89% | 5.53% | +1.36% |
Volatility
CNI vs. XLE - Volatility Comparison
The current volatility for Canadian National Railway Company (CNI) is 5.97%, while State Street Energy Select Sector SPDR ETF (XLE) has a volatility of 7.32%. This indicates that CNI experiences smaller price fluctuations and is considered to be less risky than XLE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNI | XLE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.97% | 7.32% | -1.35% |
Volatility (6M)Calculated over the trailing 6-month period | 17.10% | 16.68% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.83% | 21.06% | +0.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.42% | 25.95% | -3.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.66% | 29.58% | -6.92% |
Dividends
CNI vs. XLE - Dividend Comparison
CNI's dividend yield for the trailing twelve months is around 2.09%, less than XLE's 2.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNI Canadian National Railway Company | 2.09% | 2.58% | 2.43% | 1.85% | 1.41% | 1.61% | 1.59% | 1.79% | 2.01% | 2.00% | 2.23% | 2.24% |
XLE State Street Energy Select Sector SPDR ETF | 2.67% | 3.28% | 3.36% | 3.55% | 3.68% | 4.21% | 5.62% | 6.72% | 3.54% | 3.03% | 2.26% | 3.39% |
Frequently Asked Questions
CNI and XLE have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLE has higher volatility (7.32%) compared to CNI (5.97%). In terms of maximum drawdown, CNI dropped -46.66% vs XLE's -71.26%.
XLE currently has the higher Sharpe Ratio (1.50 vs 1.02), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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