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NRGY.TO vs. XEG.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NRGY.TO vs. XEG.TO

Last updated Jun 4, 2026

NRGY.TO (Global X Equal Weight Canadian Oil & Gas Index ETF) and XEG.TO (iShares S&P/TSX Capped Energy Index ETF) are both exchange-traded funds - NRGY.TO is a Commodity Producers Equities fund tracking the Mirae Asset Equal Weight Canadian Oil & Gas Index, while XEG.TO is a Energy Equities fund tracking the S&P/TSX Capped Energy Index. Both are passively managed. Over the past year, NRGY.TO returned 53.45% vs 70.40% for XEG.TO. Their correlation of 0.90 suggests significant overlap in exposure. NRGY.TO charges 0.49%/yr vs 0.61%/yr for XEG.TO.

Performance

NRGY.TO vs. XEG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Equal Weight Canadian Oil & Gas Index ETF (NRGY.TO) and iShares S&P/TSX Capped Energy Index ETF (XEG.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, NRGY.TO achieves a 38.06% return, which is significantly lower than XEG.TO's 44.34% return.

NRGY.TO

1D
0.97%
1M
2.95%
YTD
38.06%
6M
34.29%
1Y
53.45%
3Y*
—
5Y*
—
10Y*
—

XEG.TO

1D
1.17%
1M
-0.04%
YTD
44.34%
6M
39.73%
1Y
70.40%
3Y*
28.08%
5Y*
29.48%
10Y*
11.85%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NRGY.TO vs. XEG.TO - Yearly Performance Comparison

2026 (YTD)20252024
NRGY.TO
Global X Equal Weight Canadian Oil & Gas Index ETF		38.06%14.36%-3.17%
XEG.TO
iShares S&P/TSX Capped Energy Index ETF		44.34%16.72%-3.58%

Correlation

The correlation between NRGY.TO and XEG.TO is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.90

Correlation (All Time)
Calculated using the full available price history since Nov 8, 2024

0.90

The correlation between NRGY.TO and XEG.TO has been stable across timeframes, ranging from 0.90 to 0.90 - a consistent structural relationship.

NRGY.TO vs. XEG.TO - Sectors Allocation Comparison

Sectors
NRGY.TO
XEG.TO

Energy

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Energy

NRGY.TO
100.0%
XEG.TO
100.0%

Basic Materials

NRGY.TO

-

XEG.TO

-

Communication Services

NRGY.TO

-

XEG.TO

-

Consumer Cyclical

NRGY.TO

-

XEG.TO

-

Consumer Defensive

NRGY.TO

-

XEG.TO

-

Financial Services

NRGY.TO

-

XEG.TO

-

Healthcare

NRGY.TO

-

XEG.TO

-

Industrials

NRGY.TO

-

XEG.TO

-

Real Estate

NRGY.TO

-

XEG.TO

-

Technology

NRGY.TO

-

XEG.TO

-

Utilities

NRGY.TO

-

XEG.TO

-

Compare stocks, funds, or ETFs

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

Global X Equal Weight Canadian Oil & Gas Index ETF

iShares S&P/TSX Capped Energy Index ETF

Often compared with NRGY.TO:
NRGY.TO vs. ZEO.TONRGY.TO vs. CPCC.TONRGY.TO vs. VDENRGY.TO vs. GLDX.TONRGY.TO vs. HLIT.TONRGY.TO vs. COPP.TONRGY.TO vs. HEP.TO
Often compared with XEG.TO:
XEG.TO vs. XLEXEG.TO vs. XEQT.TOXEG.TO vs. CNQ.TOXEG.TO vs. HXE.TOXEG.TO vs. ZEO.TOXEG.TO vs. XDIV.TOXEG.TO vs. XCG.TO

Return for Risk

NRGY.TO vs. XEG.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NRGY.TO
NRGY.TO Risk / Return Rank: 8989
Overall Rank
NRGY.TO Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
NRGY.TO Sortino Ratio Rank: 8888
Sortino Ratio Rank
NRGY.TO Omega Ratio Rank: 8787
Omega Ratio Rank
NRGY.TO Calmar Ratio Rank: 9090
Calmar Ratio Rank
NRGY.TO Martin Ratio Rank: 8787
Martin Ratio Rank
XEG.TO
XEG.TO Risk / Return Rank: 8686
Overall Rank
XEG.TO Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
XEG.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
XEG.TO Omega Ratio Rank: 8080
Omega Ratio Rank
XEG.TO Calmar Ratio Rank: 9292
Calmar Ratio Rank
XEG.TO Martin Ratio Rank: 8787
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.

NRGY.TO vs. XEG.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Equal Weight Canadian Oil & Gas Index ETF (NRGY.TO) and iShares S&P/TSX Capped Energy Index ETF (XEG.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.

NRGY.TOXEG.TODifference
Sharpe ratioReturn per unit of total volatility
3.19
3.11

+0.08

Sortino ratioReturn per unit of downside risk
4.05
3.66

+0.39

Omega ratioGain probability vs. loss probability

1.54

1.49

+0.05

Calmar ratioReturn relative to maximum drawdown

5.66

6.36

-0.70

Martin ratioReturn relative to average drawdown

18.67

19.02

-0.35

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NRGY.TO vs. XEG.TO - Sharpe Ratio Comparison

The current NRGY.TO Sharpe Ratio is 3.19, which is comparable to the XEG.TO Sharpe Ratio of 3.11. The chart below compares the historical Sharpe Ratios of NRGY.TO and XEG.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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Sharpe Ratios by Period

NRGY.TOXEG.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.19

3.11

+0.08

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.04

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.36

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.60

0.28

+1.32

Drawdowns

NRGY.TO vs. XEG.TO - Drawdown Comparison

The maximum NRGY.TO drawdown since its inception was -16.59%, smaller than the maximum XEG.TO drawdown of -87.74%. Use the drawdown chart below to compare losses from any high point for NRGY.TO and XEG.TO.

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Drawdown Indicators

NRGY.TOXEG.TODifference

Max Drawdown

Largest peak-to-trough decline

-16.59%

-87.74%

+71.15%

Max Drawdown (1Y)

Largest decline over 1 year

-9.49%

-11.12%

+1.63%

Max Drawdown (3Y)

Largest decline over 3 years

—

-25.67%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-28.42%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-79.66%

—

Current Drawdown

Current decline from peak

-2.61%

-4.00%

+1.39%

Average Drawdown

Average peak-to-trough decline

-3.55%

-29.19%

+25.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.87%

3.71%

-0.84%

Volatility

NRGY.TO vs. XEG.TO - Volatility Comparison

The current volatility for Global X Equal Weight Canadian Oil & Gas Index ETF (NRGY.TO) is 6.96%, while iShares S&P/TSX Capped Energy Index ETF (XEG.TO) has a volatility of 9.31%. This indicates that NRGY.TO experiences smaller price fluctuations and is considered to be less risky than XEG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NRGY.TOXEG.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.96%

9.31%

-2.35%

Volatility (6M)

Calculated over the trailing 6-month period

14.45%

18.99%

-4.54%

Volatility (1Y)

Calculated over the trailing 1-year period

16.88%

22.76%

-5.88%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.53%

28.62%

-9.09%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.53%

33.41%

-13.88%

NRGY.TO vs. XEG.TO - Expense Ratio Comparison

NRGY.TO has a 0.49% expense ratio, which is lower than XEG.TO's 0.61% expense ratio.

Dividends

NRGY.TO vs. XEG.TO - Dividend Comparison

NRGY.TO's dividend yield for the trailing twelve months is around 3.06%, more than XEG.TO's 2.65% yield.

PositionTTM20252024202320222021202020192018201720162015
NRGY.TO
Global X Equal Weight Canadian Oil & Gas Index ETF		3.06%3.87%0.56%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XEG.TO
iShares S&P/TSX Capped Energy Index ETF		2.65%3.63%3.46%4.26%3.31%1.64%2.96%2.70%2.25%1.41%1.40%3.58%

Frequently Asked Questions

With a correlation of 0.90, NRGY.TO and XEG.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, NRGY.TO is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

NRGY.TO is cheaper with a 0.49% expense ratio, compared with 0.61% for XEG.TO.

NRGY.TO is categorized as Commodity Producers Equities, while XEG.TO is Energy Equities. NRGY.TO tracks Mirae Asset Equal Weight Canadian Oil & Gas Index, while XEG.TO tracks S&P/TSX Capped Energy Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.49% for NRGY.TO and 0.61% for XEG.TO.

Portfolio Optimizer

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