PPLN.TO vs. CCO.TO

Last updated Jul 15, 2026

PPLN.TO (Global X Equal Weight Canadian Pipelines Index ETF) is Energy Equities fund tracking the Mirae Asset Equal Weight Canadian Pipeline Index, while CCO.TO (Cameco Corporation) is a stock. Over the past 10 years, PPLN.TO returned 11.00%/yr vs 25.86%/yr for CCO.TO. At a 0.26 correlation, their price movements are largely independent.

Performance

PPLN.TO vs. CCO.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Equal Weight Canadian Pipelines Index ETF (PPLN.TO) and Cameco Corporation (CCO.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PPLN.TO achieves a 33.75% return, which is significantly higher than CCO.TO's 2.54% return. Over the past 10 years, PPLN.TO has underperformed CCO.TO with an annualized return of 11.00%, while CCO.TO has yielded a comparatively higher 25.86% annualized return.

PPLN.TO

• 1D: 0.40%
• 1M: 1.07%
• 6M: 35.33%
• YTD: 33.75%
• 1Y: 46.12%
• 3Y*: 19.20%
• 5Y*: 15.16%
• 10Y*: 11.00%

CCO.TO

• 1D: 0.94%
• 1M: -8.62%
• 6M: -14.72%
• YTD: 2.54%
• 1Y: 25.47%
• 3Y*: 45.91%
• 5Y*: 42.89%
• 10Y*: 25.86%

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

PPLN.TO vs. CCO.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PPLN.TO Global X Equal Weight Canadian Pipelines Index ETF	33.75%	4.14%	17.18%	8.45%	16.63%	33.83%	-17.80%	20.50%	-11.54%	-2.67%
CCO.TO Cameco Corporation	2.54%	70.37%	29.62%	86.52%	11.71%	62.18%	48.65%	-24.97%	34.00%	-14.67%

Correlation

The correlation between PPLN.TO and CCO.TO is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Jul 15, 2014	0.26

The correlation between PPLN.TO and CCO.TO shifts across timeframes, from -0.12 (1 year) to 0.26 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

PPLN.TO vs. CCO.TO — Risk / Return Rank

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

PPLN.TO

PPLN.TO Risk / Return Rank: 91
PPLN.TO Sharpe Ratio Rank: 95
PPLN.TO Sortino Ratio Rank: 95
PPLN.TO Omega Ratio Rank: 93
PPLN.TO Calmar Ratio Rank: 91
PPLN.TO Martin Ratio Rank: 79

CCO.TO

CCO.TO Risk / Return Rank: 63
CCO.TO Sharpe Ratio Rank: 62
CCO.TO Sortino Ratio Rank: 61
CCO.TO Omega Ratio Rank: 59
CCO.TO Calmar Ratio Rank: 65
CCO.TO Martin Ratio Rank: 65

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.

PPLN.TO vs. CCO.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Equal Weight Canadian Pipelines Index ETF (PPLN.TO) and Cameco Corporation (CCO.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.

	PPLN.TO	CCO.TO	Difference
Sharpe ratio: Return per unit of total volatility	3.04	0.47	+2.57
Sortino ratio: Return per unit of downside risk	4.28	1.08	+3.20
Omega ratio: Gain probability vs. loss probability	1.52	1.13	+0.39
Calmar ratio: Return relative to maximum drawdown	4.53	0.86	+3.67
Martin ratio: Return relative to average drawdown	11.97	1.97	+10.00

PPLN.TO vs. CCO.TO - Sharpe Ratio Comparison

The current PPLN.TO Sharpe Ratio is 3.04, which is higher than the CCO.TO Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of PPLN.TO and CCO.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

PPLN.TO vs. CCO.TO - Drawdown Comparison

The maximum PPLN.TO drawdown since its inception was -59.05%, smaller than the maximum CCO.TO drawdown of -83.63%. Use the drawdown chart below to compare losses from any high point for PPLN.TO and CCO.TO.

Drawdown Indicators

	PPLN.TO	CCO.TO	Difference
Max Drawdown Largest peak-to-trough decline	-59.05%	-83.63%	+24.58%
Max Drawdown (1Y) Largest decline over 1 year	-10.22%	-29.72%	+19.50%
Max Drawdown (3Y) Largest decline over 3 years	-15.31%	-39.52%	+24.21%
Max Drawdown (5Y) Largest decline over 5 years	-18.54%	-39.52%	+20.98%
Max Drawdown (10Y) Largest decline over 10 years	-59.05%	-52.84%	-6.21%
Current Drawdown Current decline from peak	0.00%	-29.06%	+29.06%
Average Drawdown Average peak-to-trough decline	-9.40%	-48.45%	+39.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.86%	12.96%	-9.10%

Volatility

PPLN.TO vs. CCO.TO - Volatility Comparison

The current volatility for Global X Equal Weight Canadian Pipelines Index ETF (PPLN.TO) is 5.53%, while Cameco Corporation (CCO.TO) has a volatility of 12.22%. This indicates that PPLN.TO experiences smaller price fluctuations and is considered to be less risky than CCO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PPLN.TO	CCO.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.53%	12.22%	-6.69%
Volatility (6M) Calculated over the trailing 6-month period	11.78%	38.60%	-26.82%
Volatility (1Y) Calculated over the trailing 1-year period	15.26%	54.37%	-39.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.50%	47.95%	-30.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.22%	45.23%	-22.01%

Dividends

PPLN.TO vs. CCO.TO - Dividend Comparison

PPLN.TO's dividend yield for the trailing twelve months is around 4.15%, more than CCO.TO's 0.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CCO.TO Cameco Corporation	0.19%	0.19%	0.22%	0.21%	0.39%	0.29%	0.47%	0.69%	0.52%	3.45%	2.85%	2.34%
PPLN.TO Global X Equal Weight Canadian Pipelines Index ETF	4.15%	4.35%	2.94%	3.77%	3.23%	3.47%	5.76%	4.40%	5.21%	4.31%	3.99%	4.41%

Frequently Asked Questions

Can I hold both PPLN.TO and CCO.TO in my portfolio?

PPLN.TO and CCO.TO have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.