SHOP vs. XEQT.TO
SHOP (Shopify Inc.) is a stock, while XEQT.TO (iShares Core Equity ETF Portfolio) is Global Equities fund actively managed by iShares. Over the past 5 years, SHOP returned -1.84%/yr vs 10.44%/yr for XEQT.TO. At a 0.48 correlation, their price movements are largely independent.
Performance
SHOP vs. XEQT.TO - Performance Comparison
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Different Trading Currencies
SHOP is traded in USD, while XEQT.TO is traded in CAD. To make them comparable, the XEQT.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SHOP achieves a -31.18% return, which is significantly lower than XEQT.TO's 8.81% return.
SHOP
- 1D
- 1.13%
- 1M
- 0.34%
- YTD
- -31.18%
- 6M
- -30.07%
- 1Y
- -0.57%
- 3Y*
- 21.77%
- 5Y*
- -1.84%
- 10Y*
- 44.31%
XEQT.TO
- 1D
- 0.22%
- 1M
- -0.42%
- YTD
- 8.81%
- 6M
- 10.35%
- 1Y
- 25.59%
- 3Y*
- 19.94%
- 5Y*
- 10.44%
- 10Y*
- —
SHOP vs. XEQT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SHOP Shopify Inc. | -31.18% | 51.39% | 36.50% | 124.43% | -74.80% | 21.68% | 184.71% | 12.69% |
XEQT.TO iShares Core Equity ETF Portfolio | 8.75% | 26.34% | 14.67% | 20.13% | -16.29% | 19.04% | 14.57% | 11.15% |
Correlation
The correlation between SHOP and XEQT.TO is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2019 | 0.48 |
The correlation between SHOP and XEQT.TO has been stable across timeframes, ranging from 0.48 to 0.55 - a consistent structural relationship.
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Return for Risk
SHOP vs. XEQT.TO — Risk / Return Rank
SHOP
XEQT.TO
SHOP vs. XEQT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Shopify Inc. (SHOP) 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.
| SHOP | XEQT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.02 | ||
| Sortino ratioReturn per unit of downside risk | -2.36 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.37 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 2.81 | -2.82 |
| Martin ratioReturn relative to average drawdown | -0.03 | 12.30 | -12.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SHOP | XEQT.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.01 | 2.01 | -2.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.03 | 0.72 | -0.75 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 0.82 | -0.13 |
Drawdowns
SHOP vs. XEQT.TO - Drawdown Comparison
The maximum SHOP drawdown since its inception was -84.82%, which is greater than XEQT.TO's maximum drawdown of -35.81%. Use the drawdown chart below to compare losses from any high point for SHOP and XEQT.TO.
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Drawdown Indicators
| SHOP | XEQT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.82% | -35.81% | -49.01% |
Max Drawdown (1Y)Largest decline over 1 year | -46.71% | -9.15% | -37.56% |
Max Drawdown (3Y)Largest decline over 3 years | -46.71% | -15.08% | -31.63% |
Max Drawdown (5Y)Largest decline over 5 years | -84.82% | -26.23% | -58.59% |
Max Drawdown (10Y)Largest decline over 10 years | -84.82% | — | — |
Current DrawdownCurrent decline from peak | -38.12% | -2.62% | -35.50% |
Average DrawdownAverage peak-to-trough decline | -28.22% | -5.78% | -22.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.74% | 2.09% | +19.65% |
Volatility
SHOP vs. XEQT.TO - Volatility Comparison
Shopify Inc. (SHOP) has a higher volatility of 17.86% compared to iShares Core Equity ETF Portfolio (XEQT.TO) at 4.30%. This indicates that SHOP'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.
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Volatility by Period
| SHOP | XEQT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.86% | 4.30% | +13.56% |
Volatility (6M)Calculated over the trailing 6-month period | 43.67% | 10.21% | +33.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.27% | 12.81% | +44.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 65.57% | 14.54% | +51.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.09% | 16.79% | +42.30% |
Dividends
SHOP vs. XEQT.TO - Dividend Comparison
SHOP has not paid dividends to shareholders, while XEQT.TO's dividend yield for the trailing twelve months is around 1.51%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
SHOP Shopify Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XEQT.TO iShares Core Equity ETF Portfolio | 1.51% | 1.66% | 2.03% | 2.09% | 2.14% | 1.66% | 1.69% | 1.21% |
Frequently Asked Questions
SHOP and XEQT.TO have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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