IBAT vs. SOBO.TO

Last updated Jun 14, 2026

IBAT (iShares Energy Storage & Materials ETF) is Alternative Energy Equities fund tracking the STOXX Global Energy Storage and Materials, while SOBO.TO (South Bow Corp) is a stock. Over the past year, IBAT returned 105.19% vs 51.18% for SOBO.TO. At a 0.04 correlation, their price movements are largely independent.

Performance

IBAT vs. SOBO.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Energy Storage & Materials ETF (IBAT) and South Bow Corp (SOBO.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, IBAT achieves a 51.63% return, which is significantly higher than SOBO.TO's 40.47% return.

IBAT

• 1D: 1.07%
• 1M: -4.06%
• YTD: 51.63%
• 6M: 46.54%
• 1Y: 105.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOBO.TO

• 1D: 1.07%
• 1M: 2.17%
• YTD: 40.47%
• 6M: 44.56%
• 1Y: 51.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBAT vs. SOBO.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBAT iShares Energy Storage & Materials ETF	51.63%	32.09%	-12.87%
SOBO.TO South Bow Corp	40.47%	25.61%	15.72%

Correlation

The correlation between IBAT and SOBO.TO is -0.02, 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	-0.02
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024	0.04

Return for Risk

IBAT vs. SOBO.TO — Risk / Return Rank

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

IBAT

IBAT Risk / Return Rank: 94
IBAT Sharpe Ratio Rank: 96
IBAT Sortino Ratio Rank: 92
IBAT Omega Ratio Rank: 92
IBAT Calmar Ratio Rank: 96
IBAT Martin Ratio Rank: 93

SOBO.TO

SOBO.TO Risk / Return Rank: 92
SOBO.TO Sharpe Ratio Rank: 94
SOBO.TO Sortino Ratio Rank: 94
SOBO.TO Omega Ratio Rank: 92
SOBO.TO Calmar Ratio Rank: 91
SOBO.TO Martin Ratio Rank: 91

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.

IBAT vs. SOBO.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Energy Storage & Materials ETF (IBAT) and South Bow Corp (SOBO.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.

	IBAT	SOBO.TO	Difference
Sharpe ratio: Return per unit of total volatility	3.63	2.52	+1.11
Sortino ratio: Return per unit of downside risk	3.98	3.42	+0.56
Omega ratio: Gain probability vs. loss probability	1.54	1.41	+0.13
Calmar ratio: Return relative to maximum drawdown	7.45	4.00	+3.45
Martin ratio: Return relative to average drawdown	20.84	11.44	+9.40

IBAT vs. SOBO.TO - Sharpe Ratio Comparison

The current IBAT Sharpe Ratio is 3.63, which is higher than the SOBO.TO Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of IBAT and SOBO.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.

Drawdowns

IBAT vs. SOBO.TO - Drawdown Comparison

The maximum IBAT drawdown since its inception was -28.26%, roughly equal to the maximum SOBO.TO drawdown of -27.09%. Use the drawdown chart below to compare losses from any high point for IBAT and SOBO.TO.

Drawdown Indicators

	IBAT	SOBO.TO	Difference
Max Drawdown Largest peak-to-trough decline	-28.26%	-27.09%	-1.17%
Max Drawdown (1Y) Largest decline over 1 year	-13.71%	-12.68%	-1.03%
Current Drawdown Current decline from peak	-8.98%	-0.27%	-8.71%
Average Drawdown Average peak-to-trough decline	-7.74%	-4.27%	-3.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.90%	4.44%	+0.46%

Volatility

IBAT vs. SOBO.TO - Volatility Comparison

iShares Energy Storage & Materials ETF (IBAT) has a higher volatility of 13.41% compared to South Bow Corp (SOBO.TO) at 7.11%. This indicates that IBAT's price experiences larger fluctuations and is considered to be riskier than SOBO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBAT	SOBO.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.41%	7.11%	+6.30%
Volatility (6M) Calculated over the trailing 6-month period	22.68%	14.83%	+7.85%
Volatility (1Y) Calculated over the trailing 1-year period	28.18%	20.22%	+7.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.58%	44.59%	-20.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.58%	44.59%	-20.01%

Dividends

IBAT vs. SOBO.TO - Dividend Comparison

IBAT's dividend yield for the trailing twelve months is around 0.76%, less than SOBO.TO's 5.18% yield.

Position	TTM	2025	2024
IBAT iShares Energy Storage & Materials ETF	0.76%	1.15%	1.37%
SOBO.TO South Bow Corp	5.18%	7.37%	2.12%

Frequently Asked Questions

Can I hold both IBAT and SOBO.TO in my portfolio?

IBAT and SOBO.TO have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.