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CNQ vs. XDIV.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CNQ vs. XDIV.TO

Last updated Jun 13, 2026

CNQ (Canadian Natural Resources Limited) is a stock, while XDIV.TO (iShares Core MSCI Canadian Quality Dividend Index ETF) is Dividend fund tracking the MSCI Canada High Dividend Yield 10% Security Capped Index. Over the past 5 years, CNQ returned 26.12%/yr vs 13.87%/yr for XDIV.TO. At a 0.39 correlation, their price movements are largely independent.

Performance

CNQ vs. XDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Canadian Natural Resources Limited (CNQ) and iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, CNQ achieves a 35.04% return, which is significantly higher than XDIV.TO's 19.42% 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%

XDIV.TO

1D
0.38%
1M
2.75%
YTD
19.42%
6M
18.53%
1Y
36.69%
3Y*
22.30%
5Y*
13.87%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

CNQ vs. XDIV.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CNQ
Canadian Natural Resources Limited		35.04%15.58%-1.31%23.72%42.82%83.55%-19.06%39.72%-29.92%24.69%
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ETF		19.42%31.02%10.48%14.68%-5.50%33.37%-5.29%30.52%-16.81%14.41%

Correlation

The correlation between CNQ and XDIV.TO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.30

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

0.36

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

0.40

Correlation (All Time)
Calculated using the full available price history since Jun 13, 2017

0.39

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Canadian Natural Resources Limited

iShares Core MSCI Canadian Quality Dividend Index ETF

Often compared with CNQ:
CNQ vs. CVECNQ vs. XOMCNQ vs. IMOCNQ vs. CSU.TOCNQ vs. ALARCNQ vs. OKECNQ vs. NFE
Often compared with XDIV.TO:
XDIV.TO vs. VDY.TOXDIV.TO vs. XEI.TOXDIV.TO vs. XDV.TOXDIV.TO vs. XEQT.TOXDIV.TO vs. HDIV.TOXDIV.TO vs. XIU.TOXDIV.TO vs. CDZ.TO

Return for Risk

CNQ vs. XDIV.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CNQ
CNQ Risk / Return Rank: 8181
Overall Rank
CNQ Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
CNQ Sortino Ratio Rank: 7777
Sortino Ratio Rank
CNQ Omega Ratio Rank: 7676
Omega Ratio Rank
CNQ Calmar Ratio Rank: 8585
Calmar Ratio Rank
CNQ Martin Ratio Rank: 8282
Martin Ratio Rank
XDIV.TO
XDIV.TO Risk / Return Rank: 9898
Overall Rank
XDIV.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
XDIV.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
XDIV.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XDIV.TO Calmar Ratio Rank: 9999
Calmar Ratio Rank
XDIV.TO Martin Ratio Rank: 9898
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.

CNQ vs. XDIV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Canadian Natural Resources Limited (CNQ) and iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.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.

CNQXDIV.TODifference
Sharpe ratioReturn per unit of total volatility
1.51
4.27

-2.76

Sortino ratioReturn per unit of downside risk
1.98
6.11

-4.13

Omega ratioGain probability vs. loss probability

1.25

1.82

-0.56

Calmar ratioReturn relative to maximum drawdown

3.09

11.38

-8.29

Martin ratioReturn relative to average drawdown

6.92

38.12

-31.19

CNQ vs. XDIV.TO - Sharpe Ratio Comparison

The current CNQ Sharpe Ratio is 1.51, which is lower than the XDIV.TO Sharpe Ratio of 4.27. The chart below compares the historical Sharpe Ratios of CNQ and XDIV.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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Drawdowns

CNQ vs. XDIV.TO - Drawdown Comparison

The maximum CNQ drawdown since its inception was -80.75%, which is greater than XDIV.TO's maximum drawdown of -46.32%. Use the drawdown chart below to compare losses from any high point for CNQ and XDIV.TO.

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Drawdown Indicators

CNQXDIV.TODifference

Max Drawdown

Largest peak-to-trough decline

-80.75%

-46.32%

-34.43%

Max Drawdown (1Y)

Largest decline over 1 year

-14.16%

-3.31%

-10.85%

Max Drawdown (3Y)

Largest decline over 3 years

-35.85%

-12.20%

-23.65%

Max Drawdown (5Y)

Largest decline over 5 years

-35.85%

-24.74%

-11.11%

Max Drawdown (10Y)

Largest decline over 10 years

-77.84%

—

—

Current Drawdown

Current decline from peak

-9.57%

0.00%

-9.57%

Average Drawdown

Average peak-to-trough decline

-23.51%

-6.33%

-17.18%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.30%

0.99%

+5.31%

Volatility

CNQ vs. XDIV.TO - Volatility Comparison

Canadian Natural Resources Limited (CNQ) has a higher volatility of 8.56% compared to iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) at 2.43%. This indicates that CNQ's price experiences larger fluctuations and is considered to be riskier than XDIV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CNQXDIV.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

8.56%

2.43%

+6.13%

Volatility (6M)

Calculated over the trailing 6-month period

24.09%

6.86%

+17.23%

Volatility (1Y)

Calculated over the trailing 1-year period

29.06%

8.84%

+20.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

32.86%

12.47%

+20.39%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

40.24%

17.75%

+22.49%

Dividends

CNQ vs. XDIV.TO - Dividend Comparison

CNQ's dividend yield for the trailing twelve months is around 3.84%, more than XDIV.TO's 3.25% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ETF		3.25%3.90%4.50%4.42%4.15%3.76%4.85%4.24%5.13%1.92%0.00%0.00%

Frequently Asked Questions

CNQ and XDIV.TO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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