INAI.TO vs. XEQT.TO

Last updated Jun 4, 2026

INAI.TO (Invesco Morningstar Global Next Gen AI Index ETF) and XEQT.TO (iShares Core Equity ETF Portfolio) are both exchange-traded funds - INAI.TO is a Technology Equities fund tracking the Morningstar Global Next Gen AI Index, while XEQT.TO is a Global Equities fund actively managed by iShares. INAI.TO is passively managed, while XEQT.TO is actively managed. Over the past year, INAI.TO returned 78.13% vs 29.24% for XEQT.TO. A 0.52 correlation means they provide meaningful diversification when combined. INAI.TO charges 0.60%/yr vs 0.20%/yr for XEQT.TO.

Performance

INAI.TO vs. XEQT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Invesco Morningstar Global Next Gen AI Index ETF (INAI.TO) and iShares Core Equity ETF Portfolio (XEQT.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INAI.TO achieves a 39.66% return, which is significantly higher than XEQT.TO's 12.29% return.

INAI.TO

• 1D: -0.45%
• 1M: 19.44%
• YTD: 39.66%
• 6M: 31.65%
• 1Y: 78.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XEQT.TO

• 1D: -0.56%
• 1M: 5.98%
• YTD: 12.29%
• 6M: 11.20%
• 1Y: 29.24%
• 3Y*: 21.78%
• 5Y*: 13.72%
• 10Y*: —

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

INAI.TO vs. XEQT.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
INAI.TO Invesco Morningstar Global Next Gen AI Index ETF	39.66%	30.39%	50.13%
XEQT.TO iShares Core Equity ETF Portfolio	12.29%	19.47%	24.00%

Correlation

The correlation between INAI.TO and XEQT.TO is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jan 19, 2024	0.52

The correlation between INAI.TO and XEQT.TO shifts across timeframes, from 0.52 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

INAI.TO vs. XEQT.TO — Risk / Return Rank

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

INAI.TO

INAI.TO Risk / Return Rank: 77
INAI.TO Sharpe Ratio Rank: 90
INAI.TO Sortino Ratio Rank: 82
INAI.TO Omega Ratio Rank: 83
INAI.TO Calmar Ratio Rank: 71
INAI.TO Martin Ratio Rank: 58

XEQT.TO

XEQT.TO Risk / Return Rank: 75
XEQT.TO Sharpe Ratio Rank: 76
XEQT.TO Sortino Ratio Rank: 76
XEQT.TO Omega Ratio Rank: 76
XEQT.TO Calmar Ratio Rank: 70
XEQT.TO Martin Ratio Rank: 78

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.

INAI.TO vs. XEQT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Morningstar Global Next Gen AI Index ETF (INAI.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.

	INAI.TO	XEQT.TO	Difference
Sharpe ratio Return per unit of total volatility	3.13	2.53	+0.61
Sortino ratio Return per unit of downside risk	3.70	3.49	+0.21
Omega ratio Gain probability vs. loss probability	1.51	1.47	+0.04
Calmar ratio Return relative to maximum drawdown	3.56	3.56	0.00
Martin ratio Return relative to average drawdown	10.22	15.50	-5.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INAI.TO vs. XEQT.TO - Sharpe Ratio Comparison

The current INAI.TO Sharpe Ratio is 3.13, which is comparable to the XEQT.TO Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of INAI.TO and XEQT.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

	INAI.TO	XEQT.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.13	2.53	+0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.93	0.95	+0.98

Drawdowns

INAI.TO vs. XEQT.TO - Drawdown Comparison

The maximum INAI.TO drawdown since its inception was -26.78%, smaller than the maximum XEQT.TO drawdown of -29.74%. Use the drawdown chart below to compare losses from any high point for INAI.TO and XEQT.TO.

Drawdown Indicators

	INAI.TO	XEQT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-26.78%	-29.74%	+2.96%
Max Drawdown (1Y) Largest decline over 1 year	-22.07%	-8.25%	-13.82%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.08%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.56%	—
Current Drawdown Current decline from peak	-0.45%	-0.56%	+0.11%
Average Drawdown Average peak-to-trough decline	-5.11%	-4.11%	-1.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.67%	1.89%	+5.78%

Volatility

INAI.TO vs. XEQT.TO - Volatility Comparison

Invesco Morningstar Global Next Gen AI Index ETF (INAI.TO) has a higher volatility of 9.06% compared to iShares Core Equity ETF Portfolio (XEQT.TO) at 3.70%. This indicates that INAI.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.

Volatility by Period

	INAI.TO	XEQT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.06%	3.70%	+5.36%
Volatility (6M) Calculated over the trailing 6-month period	20.35%	9.38%	+10.97%
Volatility (1Y) Calculated over the trailing 1-year period	25.16%	11.63%	+13.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.51%	13.12%	+14.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.51%	15.56%	+11.95%

INAI.TO vs. XEQT.TO - Expense Ratio Comparison

INAI.TO has a 0.60% expense ratio, which is higher than XEQT.TO's 0.20% expense ratio.

Dividends

INAI.TO vs. XEQT.TO - Dividend Comparison

INAI.TO's dividend yield for the trailing twelve months is around 0.03%, less than XEQT.TO's 1.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
INAI.TO Invesco Morningstar Global Next Gen AI Index ETF	0.03%	0.07%	0.14%	0.00%	0.00%	0.00%	0.00%	0.00%
XEQT.TO iShares Core Equity ETF Portfolio	1.48%	1.66%	2.01%	2.07%	2.12%	1.64%	1.66%	1.19%

Frequently Asked Questions

Can I hold both INAI.TO and XEQT.TO in my portfolio?

INAI.TO and XEQT.TO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, INAI.TO or XEQT.TO?

On fees, XEQT.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, INAI.TO or XEQT.TO?

XEQT.TO is cheaper with a 0.20% expense ratio, compared with 0.60% for INAI.TO.

What is the main difference between INAI.TO and XEQT.TO?

INAI.TO is categorized as Technology Equities, while XEQT.TO is Global Equities. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.60% for INAI.TO and 0.20% for XEQT.TO.