CNQ.TO vs. XEQT.TO
CNQ.TO (Canadian Natural Resources Limited) is a stock, while XEQT.TO (iShares Core Equity ETF Portfolio) is Global Equities fund actively managed by iShares. Over the past 5 years, CNQ.TO returned 33.86%/yr vs 13.69%/yr for XEQT.TO. At a 0.32 correlation, their price movements are largely independent.
Performance
CNQ.TO vs. XEQT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CNQ.TO achieves a 37.61% return, which is significantly higher than XEQT.TO's 12.26% return.
CNQ.TO
- 1D
- -0.19%
- 1M
- -2.91%
- YTD
- 37.61%
- 6M
- 40.79%
- 1Y
- 43.07%
- 3Y*
- 27.02%
- 5Y*
- 33.86%
- 10Y*
- 23.43%
XEQT.TO
- 1D
- 0.63%
- 1M
- 2.10%
- YTD
- 12.26%
- 6M
- 12.73%
- 1Y
- 30.96%
- 3Y*
- 21.81%
- 5Y*
- 13.69%
- 10Y*
- —
CNQ.TO vs. XEQT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CNQ.TO Canadian Natural Resources Limited | 37.61% | 10.42% | 8.27% | 26.98% | 63.10% | 91.26% | -12.94% | 37.90% |
XEQT.TO iShares Core Equity ETF Portfolio | 12.26% | 20.57% | 24.38% | 17.27% | -10.99% | 18.98% | 11.85% | 8.56% |
Correlation
The correlation between CNQ.TO and XEQT.TO is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Aug 14, 2019 | 0.32 |
The correlation between CNQ.TO and XEQT.TO shifts across timeframes, from -0.13 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CNQ.TO vs. XEQT.TO — Risk / Return Rank
CNQ.TO
XEQT.TO
CNQ.TO vs. XEQT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian Natural Resources Limited (CNQ.TO) 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.
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.
| CNQ.TO | XEQT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.78 | ||
| Sortino ratioReturn per unit of downside risk | -1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.45 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.12 | 3.59 | -0.47 |
| Martin ratioReturn relative to average drawdown | 7.98 | 15.41 | -7.43 |
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Drawdowns
CNQ.TO vs. XEQT.TO - Drawdown Comparison
The maximum CNQ.TO drawdown since its inception was -74.63%, which is greater than XEQT.TO's maximum drawdown of -29.74%. Use the drawdown chart below to compare losses from any high point for CNQ.TO and XEQT.TO.
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Drawdown Indicators
| CNQ.TO | XEQT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.63% | -29.74% | -44.89% |
Max Drawdown (1Y)Largest decline over 1 year | -15.33% | -8.25% | -7.08% |
Max Drawdown (3Y)Largest decline over 3 years | -33.12% | -15.08% | -18.04% |
Max Drawdown (5Y)Largest decline over 5 years | -33.12% | -19.55% | -13.57% |
Max Drawdown (10Y)Largest decline over 10 years | -74.63% | — | — |
Current DrawdownCurrent decline from peak | -8.72% | -0.84% | -7.88% |
Average DrawdownAverage peak-to-trough decline | -17.63% | -4.09% | -13.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.98% | 1.92% | +4.06% |
Volatility
CNQ.TO vs. XEQT.TO - Volatility Comparison
Canadian Natural Resources Limited (CNQ.TO) has a higher volatility of 8.91% compared to iShares Core Equity ETF Portfolio (XEQT.TO) at 5.02%. This indicates that CNQ.TO'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.
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Volatility by Period
| CNQ.TO | XEQT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.91% | 5.02% | +3.89% |
Volatility (6M)Calculated over the trailing 6-month period | 24.23% | 10.06% | +14.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.98% | 12.17% | +16.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.61% | 13.21% | +17.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.12% | 15.58% | +22.54% |
Dividends
CNQ.TO vs. XEQT.TO - Dividend Comparison
CNQ.TO's dividend yield for the trailing twelve months is around 3.77%, more than XEQT.TO's 1.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNQ.TO Canadian Natural Resources Limited | 2.84% | 5.05% | 6.00% | 8.53% | 12.23% | 7.63% | 11.35% | 7.29% | 8.31% | 5.00% | 4.49% | 6.22% |
XEQT.TO iShares Core Equity ETF Portfolio | 1.48% | 1.66% | 2.03% | 2.09% | 2.14% | 1.66% | 1.69% | 1.21% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CNQ.TO and XEQT.TO have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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