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TRP.TO vs. XFN.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TRP.TO vs. XFN.TO

Last updated Jun 4, 2026

TRP.TO (TC Energy Corporation) is a stock, while XFN.TO (iShares S&P/TSX Capped Financials Index ETF) is Financials Equities fund tracking the Morningstar Gbl Fin Svc GR CAD. Over the past 10 years, TRP.TO returned 12.23%/yr vs 14.38%/yr for XFN.TO. At a 0.37 correlation, their price movements are largely independent.

Performance

TRP.TO vs. XFN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TC Energy Corporation (TRP.TO) and iShares S&P/TSX Capped Financials Index ETF (XFN.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, TRP.TO achieves a 25.95% return, which is significantly higher than XFN.TO's 12.51% return. Over the past 10 years, TRP.TO has underperformed XFN.TO with an annualized return of 12.23%, while XFN.TO has yielded a comparatively higher 14.38% annualized return.

TRP.TO

1D
0.04%
1M
4.78%
YTD
25.95%
6M
28.55%
1Y
40.16%
3Y*
30.70%
5Y*
16.91%
10Y*
12.23%

XFN.TO

1D
-0.55%
1M
5.10%
YTD
12.51%
6M
17.66%
1Y
41.54%
3Y*
29.67%
5Y*
16.93%
10Y*
14.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TRP.TO vs. XFN.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TRP.TO
TC Energy Corporation		25.95%18.35%51.38%3.03%-2.77%20.35%-20.74%48.50%-16.00%5.23%
XFN.TO
iShares S&P/TSX Capped Financials Index ETF		12.51%34.40%29.32%13.09%-9.92%35.57%0.99%20.66%-9.76%12.54%

Correlation

The correlation between TRP.TO and XFN.TO is 0.06, 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

0.06

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

0.27

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

0.33

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

0.36

Correlation (All Time)
Calculated using the full available price history since Mar 30, 2001

0.37

Over the past year, the correlation between TRP.TO and XFN.TO has dropped to 0.06 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.

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TC Energy Corporation

iShares S&P/TSX Capped Financials Index ETF

Often compared with TRP.TO:
TRP.TO vs. ENB.TOTRP.TO vs. CNQ.TOTRP.TO vs. CNR.TOTRP.TO vs. FTS.TOTRP.TO vs. PEY.TOTRP.TO vs. CLS.TOTRP.TO vs. ATD.TO
Often compared with XFN.TO:
XFN.TO vs. VDY.TOXFN.TO vs. FIE.TOXFN.TO vs. XIU.TOXFN.TO vs. CEW.TOXFN.TO vs. VFV.TOXFN.TO vs. RY.TOXFN.TO vs. XUS-U.TO

Return for Risk

TRP.TO vs. XFN.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TRP.TO
TRP.TO Risk / Return Rank: 8989
Overall Rank
TRP.TO Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
TRP.TO Sortino Ratio Rank: 9191
Sortino Ratio Rank
TRP.TO Omega Ratio Rank: 8787
Omega Ratio Rank
TRP.TO Calmar Ratio Rank: 9090
Calmar Ratio Rank
TRP.TO Martin Ratio Rank: 8888
Martin Ratio Rank
XFN.TO
XFN.TO Risk / Return Rank: 9191
Overall Rank
XFN.TO Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
XFN.TO Sortino Ratio Rank: 9494
Sortino Ratio Rank
XFN.TO Omega Ratio Rank: 9191
Omega Ratio Rank
XFN.TO Calmar Ratio Rank: 8989
Calmar Ratio Rank
XFN.TO Martin Ratio Rank: 9090
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.

TRP.TO vs. XFN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TC Energy Corporation (TRP.TO) and iShares S&P/TSX Capped Financials Index ETF (XFN.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.

TRP.TOXFN.TODifference
Sharpe ratioReturn per unit of total volatility
2.37
3.46

-1.09

Sortino ratioReturn per unit of downside risk
3.47
4.85

-1.39

Omega ratioGain probability vs. loss probability

1.39

1.61

-0.22

Calmar ratioReturn relative to maximum drawdown

4.61

5.35

-0.74

Martin ratioReturn relative to average drawdown

10.98

21.60

-10.62

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRP.TO vs. XFN.TO - Sharpe Ratio Comparison

The current TRP.TO Sharpe Ratio is 2.37, which is lower than the XFN.TO Sharpe Ratio of 3.46. The chart below compares the historical Sharpe Ratios of TRP.TO and XFN.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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Sharpe Ratios by Period

TRP.TOXFN.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.37

3.46

-1.09

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.89

1.26

-0.38

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.53

0.87

-0.34

Sharpe Ratio (All Time)

Calculated using the full available price history

0.54

0.64

-0.10

Drawdowns

TRP.TO vs. XFN.TO - Drawdown Comparison

The maximum TRP.TO drawdown since its inception was -60.13%, which is greater than XFN.TO's maximum drawdown of -56.55%. Use the drawdown chart below to compare losses from any high point for TRP.TO and XFN.TO.

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Drawdown Indicators

TRP.TOXFN.TODifference

Max Drawdown

Largest peak-to-trough decline

-60.13%

-56.55%

-3.58%

Max Drawdown (1Y)

Largest decline over 1 year

-8.75%

-7.80%

-0.95%

Max Drawdown (3Y)

Largest decline over 3 years

-17.31%

-12.37%

-4.94%

Max Drawdown (5Y)

Largest decline over 5 years

-33.81%

-21.90%

-11.91%

Max Drawdown (10Y)

Largest decline over 10 years

-36.30%

-39.93%

+3.63%

Current Drawdown

Current decline from peak

-3.74%

-1.39%

-2.35%

Average Drawdown

Average peak-to-trough decline

-8.97%

-6.60%

-2.37%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.70%

1.93%

+1.77%

Volatility

TRP.TO vs. XFN.TO - Volatility Comparison

TC Energy Corporation (TRP.TO) has a higher volatility of 5.63% compared to iShares S&P/TSX Capped Financials Index ETF (XFN.TO) at 4.19%. This indicates that TRP.TO's price experiences larger fluctuations and is considered to be riskier than XFN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TRP.TOXFN.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.63%

4.19%

+1.44%

Volatility (6M)

Calculated over the trailing 6-month period

12.94%

10.10%

+2.84%

Volatility (1Y)

Calculated over the trailing 1-year period

17.06%

12.07%

+4.99%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.23%

13.47%

+5.76%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.07%

16.53%

+6.54%

Dividends

TRP.TO vs. XFN.TO - Dividend Comparison

TRP.TO's dividend yield for the trailing twelve months is around 3.64%, more than XFN.TO's 2.17% yield.

PositionTTM20252024202320222021202020192018201720162015
TRP.TO
TC Energy Corporation		3.64%4.50%5.15%7.19%6.67%5.92%6.27%4.34%5.67%4.09%3.74%4.61%
XFN.TO
iShares S&P/TSX Capped Financials Index ETF		2.17%2.39%3.16%3.60%3.48%2.67%3.35%3.00%3.43%2.73%2.83%3.17%

Frequently Asked Questions

TRP.TO and XFN.TO have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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