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RY vs. XUT.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RY vs. XUT.TO

Last updated Jun 13, 2026

RY (Royal Bank of Canada) 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, RY returned 17.18%/yr vs 8.03%/yr for XUT.TO. At a 0.27 correlation, their price movements are largely independent.

Performance

RY vs. XUT.TO - Performance Comparison

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

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Different Trading Currencies

RY 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, RY achieves a 18.68% return, which is significantly higher than XUT.TO's 14.02% return. Over the past 10 years, RY has outperformed XUT.TO with an annualized return of 17.18%, while XUT.TO has yielded a comparatively lower 8.03% annualized return.

RY

1D
0.14%
1M
8.80%
YTD
18.68%
6M
21.99%
1Y
60.93%
3Y*
33.55%
5Y*
18.33%
10Y*
17.18%

XUT.TO

1D
-0.13%
1M
1.17%
YTD
14.02%
6M
11.79%
1Y
18.49%
3Y*
10.49%
5Y*
3.73%
10Y*
8.03%
*Multi-year figures are annualized to reflect compound growth (CAGR)

RY vs. XUT.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
RY
Royal Bank of Canada		18.68%46.29%23.80%12.72%-8.00%34.11%8.42%20.17%-12.88%24.95%
XUT.TO
iShares S&P/TSX Capped Utilities Index ETF		14.02%20.23%4.26%1.98%-16.32%8.97%17.53%42.50%-15.41%18.16%

Correlation

The correlation between RY and XUT.TO is 0.01, 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

0.01

Correlation (3Y)
Calculated over the trailing 3-year period

0.36

Correlation (5Y)
Calculated over the trailing 5-year period

0.31

Correlation (10Y)
Calculated over the trailing 10-year period

0.26

Correlation (All Time)
Calculated using the full available price history since Apr 18, 2011

0.27

Over the past year, the correlation between RY and XUT.TO has dropped to 0.01 - well below their long-term average of 0.27, suggesting their price drivers have been diverging.

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Royal Bank of Canada

iShares S&P/TSX Capped Utilities Index ETF

Often compared with RY:
RY vs. TDRY vs. BNSRY vs. JPMRY vs. BMORY vs. TD.TORY vs. DOL.TORY vs. EQB.TO
Often compared with XUT.TO:
XUT.TO vs. ZUT.TOXUT.TO vs. XEI.TOXUT.TO vs. ZLB.TOXUT.TO vs. XIU.TOXUT.TO vs. XLUXUT.TO vs. UTES.TOXUT.TO vs. VPU

Return for Risk

RY vs. XUT.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RY
RY Risk / Return Rank: 9797
Overall Rank
RY Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
RY Sortino Ratio Rank: 9999
Sortino Ratio Rank
RY Omega Ratio Rank: 9898
Omega Ratio Rank
RY Calmar Ratio Rank: 9494
Calmar Ratio Rank
RY Martin Ratio Rank: 9797
Martin Ratio Rank
XUT.TO
XUT.TO Risk / Return Rank: 7575
Overall Rank
XUT.TO Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
XUT.TO Sortino Ratio Rank: 8383
Sortino Ratio Rank
XUT.TO Omega Ratio Rank: 8989
Omega Ratio Rank
XUT.TO Calmar Ratio Rank: 6565
Calmar Ratio Rank
XUT.TO Martin Ratio Rank: 5353
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.

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

This table presents a comparison of risk-adjusted performance metrics for Royal Bank of Canada (RY) 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.

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.

RYXUT.TODifference
Sharpe ratioReturn per unit of total volatility
3.97
1.97

+2.00

Sortino ratioReturn per unit of downside risk
5.70
2.53

+3.17

Omega ratioGain probability vs. loss probability

1.70

1.37

+0.32

Calmar ratioReturn relative to maximum drawdown

5.97

2.81

+3.16

Martin ratioReturn relative to average drawdown

22.22

8.95

+13.26

RY vs. XUT.TO - Sharpe Ratio Comparison

The current RY Sharpe Ratio is 3.97, which is higher than the XUT.TO Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of RY 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.

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Drawdowns

RY vs. XUT.TO - Drawdown Comparison

The maximum RY drawdown since its inception was -62.90%, 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 RY and XUT.TO.

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Drawdown Indicators

RYXUT.TODifference

Max Drawdown

Largest peak-to-trough decline

-62.90%

-42.99%

-19.91%

Max Drawdown (1Y)

Largest decline over 1 year

-10.04%

-6.76%

-3.28%

Max Drawdown (3Y)

Largest decline over 3 years

-19.88%

-21.13%

+1.25%

Max Drawdown (5Y)

Largest decline over 5 years

-28.36%

-34.82%

+6.46%

Max Drawdown (10Y)

Largest decline over 10 years

-39.95%

-42.99%

+3.04%

Current Drawdown

Current decline from peak

0.00%

-1.18%

+1.18%

Average Drawdown

Average peak-to-trough decline

-9.32%

-10.40%

+1.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.69%

2.12%

+0.57%

Volatility

RY vs. XUT.TO - Volatility Comparison

Royal Bank of Canada (RY) has a higher volatility of 4.01% compared to iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) at 2.63%. This indicates that RY'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.

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Volatility by Period

RYXUT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.01%

2.63%

+1.38%

Volatility (6M)

Calculated over the trailing 6-month period

11.34%

8.25%

+3.09%

Volatility (1Y)

Calculated over the trailing 1-year period

15.10%

9.67%

+5.43%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.00%

14.40%

+3.60%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.76%

17.43%

+2.33%

Dividends

RY vs. XUT.TO - Dividend Comparison

RY's dividend yield for the trailing twelve months is around 2.32%, less than XUT.TO's 3.25% yield.

PositionTTM20252024202320222021202020192018201720162015
RY
Royal Bank of Canada		2.32%2.54%3.39%4.29%4.07%3.24%3.88%3.88%4.27%3.22%3.95%5.41%
XUT.TO
iShares S&P/TSX Capped Utilities Index ETF		3.25%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

RY and XUT.TO have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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