SOBO.TO vs. CRAK

Last updated Jun 13, 2026

SOBO.TO (South Bow Corp) is a stock, while CRAK (VanEck Oil Refiners ETF) is Energy Equities fund tracking the MVIS Global Oil Refiners Index. Over the past year, SOBO.TO returned 55.36% vs 59.53% for CRAK. At a 0.09 correlation, their price movements are largely independent.

Performance

SOBO.TO vs. CRAK - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in South Bow Corp (SOBO.TO) and VanEck Oil Refiners ETF (CRAK). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SOBO.TO is traded in CAD, while CRAK is traded in USD. To make them comparable, the CRAK values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SOBO.TO achieves a 43.31% return, which is significantly higher than CRAK's 31.88% return.

SOBO.TO

• 1D: 1.25%
• 1M: 4.02%
• YTD: 43.31%
• 6M: 46.62%
• 1Y: 55.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CRAK

• 1D: 0.19%
• 1M: 0.86%
• YTD: 31.88%
• 6M: 27.97%
• 1Y: 59.53%
• 3Y*: 22.27%
• 5Y*: 16.44%
• 10Y*: 14.47%

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

SOBO.TO vs. CRAK - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SOBO.TO South Bow Corp	43.31%	19.87%	23.73%
CRAK VanEck Oil Refiners ETF	31.88%	32.76%	-10.20%

Correlation

The correlation between SOBO.TO and CRAK is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024	0.09

Return for Risk

SOBO.TO vs. CRAK — Risk / Return Rank

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

SOBO.TO

SOBO.TO Risk / Return Rank: 92
SOBO.TO Sharpe Ratio Rank: 94
SOBO.TO Sortino Ratio Rank: 94
SOBO.TO Omega Ratio Rank: 92
SOBO.TO Calmar Ratio Rank: 91
SOBO.TO Martin Ratio Rank: 91

CRAK

CRAK Risk / Return Rank: 92
CRAK Sharpe Ratio Rank: 93
CRAK Sortino Ratio Rank: 92
CRAK Omega Ratio Rank: 90
CRAK Calmar Ratio Rank: 94
CRAK Martin Ratio Rank: 89

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.

SOBO.TO vs. CRAK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for South Bow Corp (SOBO.TO) and VanEck Oil Refiners ETF (CRAK). 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.

	SOBO.TO	CRAK	Difference
Sharpe ratio: Return per unit of total volatility	2.72	3.07	-0.35
Sortino ratio: Return per unit of downside risk	3.70	4.03	-0.32
Omega ratio: Gain probability vs. loss probability	1.44	1.50	-0.06
Calmar ratio: Return relative to maximum drawdown	4.48	5.93	-1.46
Martin ratio: Return relative to average drawdown	11.83	17.44	-5.61

SOBO.TO vs. CRAK - Sharpe Ratio Comparison

The current SOBO.TO Sharpe Ratio is 2.72, which is comparable to the CRAK Sharpe Ratio of 3.07. The chart below compares the historical Sharpe Ratios of SOBO.TO and CRAK, 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

SOBO.TO vs. CRAK - Drawdown Comparison

The maximum SOBO.TO drawdown since its inception was -26.40%, smaller than the maximum CRAK drawdown of -54.56%. Use the drawdown chart below to compare losses from any high point for SOBO.TO and CRAK.

Drawdown Indicators

	SOBO.TO	CRAK	Difference
Max Drawdown Largest peak-to-trough decline	-26.40%	-54.56%	+28.16%
Max Drawdown (1Y) Largest decline over 1 year	-12.09%	-9.97%	-2.12%
Max Drawdown (3Y) Largest decline over 3 years	—	-32.61%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.61%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-54.56%	—
Current Drawdown Current decline from peak	0.00%	-4.27%	+4.27%
Average Drawdown Average peak-to-trough decline	-4.69%	-11.97%	+7.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.60%	3.38%	+1.22%

Volatility

SOBO.TO vs. CRAK - Volatility Comparison

South Bow Corp (SOBO.TO) has a higher volatility of 7.30% compared to VanEck Oil Refiners ETF (CRAK) at 5.96%. This indicates that SOBO.TO's price experiences larger fluctuations and is considered to be riskier than CRAK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOBO.TO	CRAK	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.30%	5.96%	+1.34%
Volatility (6M) Calculated over the trailing 6-month period	14.84%	15.54%	-0.70%
Volatility (1Y) Calculated over the trailing 1-year period	19.97%	19.28%	+0.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.55%	21.46%	+23.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.55%	22.74%	+21.81%

Dividends

SOBO.TO vs. CRAK - Dividend Comparison

SOBO.TO's dividend yield for the trailing twelve months is around 5.18%, more than CRAK's 1.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRAK VanEck Oil Refiners ETF	1.56%	2.02%	5.60%	3.65%	3.08%	2.40%	2.64%	1.49%	2.42%	1.66%	3.42%	0.47%
SOBO.TO South Bow Corp	5.18%	7.37%	2.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SOBO.TO and CRAK in my portfolio?

SOBO.TO and CRAK have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.