CNQ vs. IGF
CNQ (Canadian Natural Resources Limited) is a stock, while IGF (iShares Global Infrastructure ETF) is Industrials Equities fund tracking the S&P Global Infrastructure Index. Over the past 10 years, CNQ returned 17.89%/yr vs 8.67%/yr for IGF. A 0.53 correlation means they provide meaningful diversification when combined.
Performance
CNQ vs. IGF - Performance Comparison
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Returns By Period
In the year-to-date period, CNQ achieves a 35.04% return, which is significantly higher than IGF's 9.68% return. Over the past 10 years, CNQ has outperformed IGF with an annualized return of 17.89%, while IGF has yielded a comparatively lower 8.67% annualized return.
CNQ
- 1D
- -0.31%
- 1M
- -5.59%
- YTD
- 35.04%
- 6M
- 38.56%
- 1Y
- 38.90%
- 3Y*
- 23.03%
- 5Y*
- 26.12%
- 10Y*
- 17.89%
IGF
- 1D
- 0.67%
- 1M
- 1.89%
- YTD
- 9.68%
- 6M
- 10.24%
- 1Y
- 17.04%
- 3Y*
- 16.28%
- 5Y*
- 10.22%
- 10Y*
- 8.67%
CNQ vs. IGF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNQ Canadian Natural Resources Limited | 35.04% | 15.58% | -1.31% | 23.72% | 42.82% | 83.55% | -19.06% | 39.72% | -29.92% | 15.97% |
IGF iShares Global Infrastructure ETF | 9.68% | 21.31% | 14.81% | 6.14% | -1.26% | 11.57% | -6.50% | 25.82% | -9.95% | 19.31% |
Correlation
The correlation between CNQ and IGF is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2007 | 0.53 |
Over the past year, the correlation between CNQ and IGF has dropped to 0.07 - well below their long-term average of 0.53, suggesting their price drivers have been diverging.
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Return for Risk
CNQ vs. IGF — Risk / Return Rank
CNQ
IGF
CNQ vs. IGF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian Natural Resources Limited (CNQ) and iShares Global Infrastructure ETF (IGF). 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 | IGF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.27 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.09 | 2.78 | +0.31 |
| Martin ratioReturn relative to average drawdown | 6.92 | 8.03 | -1.11 |
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Drawdowns
CNQ vs. IGF - Drawdown Comparison
The maximum CNQ drawdown since its inception was -80.75%, which is greater than IGF's maximum drawdown of -58.33%. Use the drawdown chart below to compare losses from any high point for CNQ and IGF.
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Drawdown Indicators
| CNQ | IGF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.75% | -58.33% | -22.42% |
Max Drawdown (1Y)Largest decline over 1 year | -14.16% | -5.87% | -8.29% |
Max Drawdown (3Y)Largest decline over 3 years | -35.85% | -14.28% | -21.57% |
Max Drawdown (5Y)Largest decline over 5 years | -35.85% | -20.83% | -15.02% |
Max Drawdown (10Y)Largest decline over 10 years | -77.84% | -42.11% | -35.73% |
Current DrawdownCurrent decline from peak | -9.57% | -2.98% | -6.59% |
Average DrawdownAverage peak-to-trough decline | -23.51% | -11.86% | -11.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.30% | 2.04% | +4.26% |
Volatility
CNQ vs. IGF - Volatility Comparison
Canadian Natural Resources Limited (CNQ) has a higher volatility of 8.56% compared to iShares Global Infrastructure ETF (IGF) at 3.85%. This indicates that CNQ's price experiences larger fluctuations and is considered to be riskier than IGF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNQ | IGF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.56% | 3.85% | +4.71% |
Volatility (6M)Calculated over the trailing 6-month period | 24.09% | 8.73% | +15.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.06% | 10.58% | +18.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.86% | 14.00% | +18.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.24% | 16.83% | +23.41% |
Dividends
CNQ vs. IGF - Dividend Comparison
CNQ's dividend yield for the trailing twelve months is around 3.84%, more than IGF's 2.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNQ Canadian Natural Resources Limited | 2.89% | 5.01% | 5.02% | 4.17% | 6.31% | 3.78% | 5.26% | 3.49% | 4.56% | 3.08% | 2.94% | 4.21% |
IGF iShares Global Infrastructure ETF | 2.94% | 3.23% | 3.21% | 3.36% | 2.67% | 2.42% | 2.33% | 3.27% | 3.52% | 2.95% | 2.98% | 3.25% |
Frequently Asked Questions
CNQ and IGF have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CNQ has higher volatility (8.56%) compared to IGF (3.85%). In terms of maximum drawdown, CNQ dropped -80.75% vs IGF's -58.33%.
IGF currently has the higher Sharpe Ratio (1.55 vs 1.51), 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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