ENB vs. XUT.TO

Last updated Jun 9, 2026

ENB (Enbridge Inc.) is a stock, while XUT.TO (iShares S&P/TSX Capped Utilities Index ETF) is Utilities Equities fund tracking the Morningstar Gbl GR CAD. Over the past 10 years, ENB returned 9.34%/yr vs 7.81%/yr for XUT.TO. At a 0.32 correlation, their price movements are largely independent.

Performance

ENB vs. XUT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Enbridge Inc. (ENB) and iShares S&P/TSX Capped Utilities Index ETF (XUT.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, ENB achieves a 18.72% return, which is significantly higher than XUT.TO's 12.88% return. Over the past 10 years, ENB has outperformed XUT.TO with an annualized return of 9.34%, while XUT.TO has yielded a comparatively lower 7.81% annualized return.

ENB

• 1D: -1.74%
• 1M: 4.56%
• YTD: 18.72%
• 6M: 17.84%
• 1Y: 25.57%
• 3Y*: 20.90%
• 5Y*: 13.89%
• 10Y*: 9.34%

XUT.TO

• 1D: -1.10%
• 1M: 0.82%
• YTD: 12.88%
• 6M: 10.51%
• 1Y: 19.06%
• 3Y*: 9.70%
• 5Y*: 3.71%
• 10Y*: 7.81%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ENB vs. XUT.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ENB Enbridge Inc.	18.72%	19.51%	26.35%	-1.13%	6.46%	30.83%	-13.60%	36.05%	-15.53%	-2.73%
XUT.TO iShares S&P/TSX Capped Utilities Index ETF	12.88%	20.23%	4.26%	1.98%	-16.32%	8.97%	17.53%	42.50%	-15.41%	18.16%

Correlation

The correlation between ENB and XUT.TO is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.34
Correlation (All Time) Calculated using the full available price history since Apr 19, 2011	0.32

The correlation between ENB and XUT.TO shifts across timeframes, from 0.32 (all time) to 0.45 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

ENB vs. XUT.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ENB

ENB Risk / Return Rank: 81
ENB Sharpe Ratio Rank: 84
ENB Sortino Ratio Rank: 81
ENB Omega Ratio Rank: 78
ENB Calmar Ratio Rank: 82
ENB Martin Ratio Rank: 82

XUT.TO

XUT.TO Risk / Return Rank: 73
XUT.TO Sharpe Ratio Rank: 84
XUT.TO Sortino Ratio Rank: 80
XUT.TO Omega Ratio Rank: 87
XUT.TO Calmar Ratio Rank: 63
XUT.TO Martin Ratio Rank: 52

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.

ENB vs. XUT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Enbridge Inc. (ENB) and iShares S&P/TSX Capped Utilities Index ETF (XUT.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.

	ENB	XUT.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.58	1.98	-0.40
Sortino ratio: Return per unit of downside risk	2.28	2.55	-0.27
Omega ratio: Gain probability vs. loss probability	1.27	1.38	-0.10
Calmar ratio: Return relative to maximum drawdown	2.82	2.83	-0.01
Martin ratio: Return relative to average drawdown	7.09	9.06	-1.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ENB vs. XUT.TO - Sharpe Ratio Comparison

The current ENB Sharpe Ratio is 1.58, which is comparable to the XUT.TO Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of ENB and XUT.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.

Sharpe Ratios by Period

	ENB	XUT.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.58	1.98	-0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.26	+0.49
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.45	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.31	+0.22

Drawdowns

ENB vs. XUT.TO - Drawdown Comparison

The maximum ENB drawdown since its inception was -46.35%, which is greater than XUT.TO's maximum drawdown of -42.99%. Use the drawdown chart below to compare losses from any high point for ENB and XUT.TO.

Drawdown Indicators

	ENB	XUT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-46.35%	-42.99%	-3.36%
Max Drawdown (1Y) Largest decline over 1 year	-9.10%	-6.76%	-2.34%
Max Drawdown (3Y) Largest decline over 3 years	-15.78%	-21.77%	+5.99%
Max Drawdown (5Y) Largest decline over 5 years	-28.32%	-34.82%	+6.50%
Max Drawdown (10Y) Largest decline over 10 years	-44.07%	-42.99%	-1.08%
Current Drawdown Current decline from peak	-4.67%	-2.17%	-2.50%
Average Drawdown Average peak-to-trough decline	-10.83%	-10.41%	-0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.62%	2.11%	+1.51%

Volatility

ENB vs. XUT.TO - Volatility Comparison

Enbridge Inc. (ENB) has a higher volatility of 6.10% compared to iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) at 2.58%. This indicates that ENB's price experiences larger fluctuations and is considered to be riskier than XUT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ENB	XUT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.10%	2.58%	+3.52%
Volatility (6M) Calculated over the trailing 6-month period	13.00%	8.33%	+4.67%
Volatility (1Y) Calculated over the trailing 1-year period	16.24%	9.68%	+6.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.64%	14.40%	+4.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.34%	17.44%	+6.90%

Dividends

ENB vs. XUT.TO - Dividend Comparison

ENB's dividend yield for the trailing twelve months is around 5.01%, more than XUT.TO's 3.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENB Enbridge Inc.	5.01%	5.66%	6.28%	7.31%	6.80%	6.85%	7.55%	5.58%	6.68%	4.71%	4.13%	4.71%
XUT.TO iShares S&P/TSX Capped Utilities Index ETF	3.29%	3.91%	4.00%	3.90%	3.80%	3.04%	4.51%	3.57%	4.52%	3.57%	3.74%	4.05%

Frequently Asked Questions

Can I hold both ENB and XUT.TO in my portfolio?

ENB and XUT.TO have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.