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TA.TO vs. XEC.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TA.TO vs. XEC.TO

Last updated Jul 22, 2026
Documentation

TA.TO (TransAlta Corporation) is a stock, while XEC.TO (iShares Core MSCI Emerging Markets IMI Index ETF) is Emerging Markets Equities fund tracking the MSCI Emerging Markets IMI Index. Over the past 10 years, TA.TO returned 14.57%/yr vs 9.32%/yr for XEC.TO. At a 0.20 correlation, their price movements are largely independent.

Performance

TA.TO vs. XEC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TransAlta Corporation (TA.TO) and iShares Core MSCI Emerging Markets IMI Index ETF (XEC.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, TA.TO achieves a 14.36% return, which is significantly lower than XEC.TO's 21.97% return. Over the past 10 years, TA.TO has outperformed XEC.TO with an annualized return of 14.57%, while XEC.TO has yielded a comparatively lower 9.32% annualized return.

TA.TO

1D
2.02%
1M
0.97%
6M
11.22%
YTD
14.36%
1Y
19.28%
3Y*
15.67%
5Y*
11.41%
10Y*
14.57%
ALL TIME*
2.65%

XEC.TO

1D
2.86%
1M
-7.00%
6M
15.73%
YTD
21.97%
1Y
35.84%
3Y*
22.13%
5Y*
9.13%
10Y*
9.32%
ALL TIME*
8.50%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TA.TO vs. XEC.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TA.TO
TransAlta Corporation		14.36%-13.24%88.48%-7.32%-12.42%47.57%6.22%69.12%-23.22%2.43%
XEC.TO
iShares Core MSCI Emerging Markets IMI Index ETF		21.97%25.78%16.14%7.92%-14.76%-1.75%15.08%11.54%-8.26%27.93%

Correlation

The correlation between TA.TO and XEC.TO is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.35

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

0.28

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

0.21

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

0.19

Correlation (All Time)
Calculated using the full available price history since Apr 15, 2013

0.20

The correlation between TA.TO and XEC.TO shifts across timeframes, from 0.19 (10 years) to 0.35 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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TransAlta Corporation

iShares Core MSCI Emerging Markets IMI Index ETF

Often compared with TA.TO:
TA.TO vs. CPX.TOTA.TO vs. NPI.TOTA.TO vs. FCR-UN.TOTA.TO vs. EMA.TOTA.TO vs. AAPLTA.TO vs. FTS.TOTA.TO vs. STRL
Often compared with XEC.TO:
XEC.TO vs. XEF.TOXEC.TO vs. VEE.TOXEC.TO vs. ZEM.TOXEC.TO vs. XEM.TOXEC.TO vs. XEQT.TOXEC.TO vs. VFV.TOXEC.TO vs. XIC.TO

Return for Risk

TA.TO vs. XEC.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TA.TO
TA.TO Risk / Return Rank: 5959
Overall Rank
TA.TO Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
TA.TO Sortino Ratio Rank: 5858
Sortino Ratio Rank
TA.TO Omega Ratio Rank: 5959
Omega Ratio Rank
TA.TO Calmar Ratio Rank: 5959
Calmar Ratio Rank
TA.TO Martin Ratio Rank: 5757
Martin Ratio Rank
XEC.TO
XEC.TO Risk / Return Rank: 6969
Overall Rank
XEC.TO Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
XEC.TO Sortino Ratio Rank: 6060
Sortino Ratio Rank
XEC.TO Omega Ratio Rank: 7171
Omega Ratio Rank
XEC.TO Calmar Ratio Rank: 8080
Calmar Ratio Rank
XEC.TO Martin Ratio Rank: 7070
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.

TA.TO vs. XEC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TransAlta Corporation (TA.TO) and iShares Core MSCI Emerging Markets IMI Index ETF (XEC.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.

TA.TOXEC.TODifference
Sharpe ratioReturn per unit of total volatility
0.51
1.62

-1.11

Sortino ratioReturn per unit of downside risk
0.91
2.13

-1.22

Omega ratioGain probability vs. loss probability

1.12

1.31

-0.19

Calmar ratioReturn relative to maximum drawdown

0.57

3.10

-2.53

Martin ratioReturn relative to average drawdown

0.90

9.19

-8.29

TA.TO vs. XEC.TO - Sharpe Ratio Comparison

The current TA.TO Sharpe Ratio is 0.51, which is lower than the XEC.TO Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of TA.TO and XEC.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

TA.TO vs. XEC.TO - Drawdown Comparison

The maximum TA.TO drawdown since its inception was -83.87%, which is greater than XEC.TO's maximum drawdown of -32.54%. Use the drawdown chart below to compare losses from any high point for TA.TO and XEC.TO.

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Drawdown Indicators

TA.TOXEC.TODifference

Max Drawdown

Largest peak-to-trough decline

-83.87%

-32.54%

-51.33%

Max Drawdown (1Y)

Largest decline over 1 year

-34.12%

-11.61%

-22.51%

Max Drawdown (3Y)

Largest decline over 3 years

-44.20%

-15.07%

-29.13%

Max Drawdown (5Y)

Largest decline over 5 years

-44.20%

-28.30%

-15.90%

Max Drawdown (10Y)

Largest decline over 10 years

-50.60%

-32.54%

-18.06%

Current Drawdown

Current decline from peak

-19.66%

-8.41%

-11.25%

Average Drawdown

Average peak-to-trough decline

-43.31%

-9.53%

-33.78%

Ulcer Index

Depth and duration of drawdowns from previous peaks

21.53%

3.91%

+17.62%

Volatility

TA.TO vs. XEC.TO - Volatility Comparison

The current volatility for TransAlta Corporation (TA.TO) is 8.92%, while iShares Core MSCI Emerging Markets IMI Index ETF (XEC.TO) has a volatility of 9.67%. This indicates that TA.TO experiences smaller price fluctuations and is considered to be less risky than XEC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TA.TOXEC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

8.92%

9.67%

-0.75%

Volatility (6M)

Calculated over the trailing 6-month period

28.72%

20.36%

+8.36%

Volatility (1Y)

Calculated over the trailing 1-year period

38.19%

22.27%

+15.92%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

32.80%

16.93%

+15.87%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

32.19%

17.95%

+14.24%

Dividends

TA.TO vs. XEC.TO - Dividend Comparison

TA.TO's dividend yield for the trailing twelve months is around 1.34%, less than XEC.TO's 1.61% yield.

PositionTTM20252024202320222021202020192018201720162015
TA.TO
TransAlta Corporation		1.34%1.47%1.18%2.00%1.69%1.32%1.77%1.72%2.86%2.15%2.15%14.66%
XEC.TO
iShares Core MSCI Emerging Markets IMI Index ETF		1.61%1.92%2.03%2.15%2.19%2.78%1.64%2.87%2.66%2.13%1.80%2.19%

Frequently Asked Questions

TA.TO and XEC.TO have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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