TRP vs. IBAT
TRP (TC Energy Corporation) is a stock, while IBAT (iShares Energy Storage & Materials ETF) is Alternative Energy Equities fund tracking the STOXX Global Energy Storage and Materials. Over the past year, TRP returned 46.49% vs 105.19% for IBAT. At a 0.21 correlation, their price movements are largely independent.
Performance
TRP vs. IBAT - Performance Comparison
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Returns By Period
In the year-to-date period, TRP achieves a 27.41% return, which is significantly lower than IBAT's 51.63% return.
TRP
- 1D
- 0.12%
- 1M
- 1.69%
- YTD
- 27.41%
- 6M
- 29.66%
- 1Y
- 46.49%
- 3Y*
- 30.95%
- 5Y*
- 14.55%
- 10Y*
- 12.24%
IBAT
- 1D
- 1.07%
- 1M
- -4.06%
- YTD
- 51.63%
- 6M
- 46.54%
- 1Y
- 105.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TRP vs. IBAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TRP TC Energy Corporation | 27.41% | 24.02% | 36.46% |
IBAT iShares Energy Storage & Materials ETF | 51.63% | 32.09% | -13.29% |
Correlation
The correlation between TRP and IBAT is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2024 | 0.21 |
The correlation between TRP and IBAT shifts across timeframes, from 0.10 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TRP vs. IBAT — Risk / Return Rank
TRP
IBAT
TRP vs. IBAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TC Energy Corporation (TRP) and iShares Energy Storage & Materials ETF (IBAT). 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.
| TRP | IBAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.54 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 4.70 | 7.45 | -2.76 |
| Martin ratioReturn relative to average drawdown | 14.42 | 20.84 | -6.42 |
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Drawdowns
TRP vs. IBAT - Drawdown Comparison
The maximum TRP drawdown since its inception was -62.52%, which is greater than IBAT's maximum drawdown of -28.26%. Use the drawdown chart below to compare losses from any high point for TRP and IBAT.
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Drawdown Indicators
| TRP | IBAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.52% | -28.26% | -34.26% |
Max Drawdown (1Y)Largest decline over 1 year | -9.65% | -13.71% | +4.06% |
Max Drawdown (3Y)Largest decline over 3 years | -17.00% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -37.05% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.64% | — | — |
Current DrawdownCurrent decline from peak | -2.14% | -8.98% | +6.84% |
Average DrawdownAverage peak-to-trough decline | -11.72% | -7.74% | -3.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 4.90% | -1.64% |
Volatility
TRP vs. IBAT - Volatility Comparison
The current volatility for TC Energy Corporation (TRP) is 5.62%, while iShares Energy Storage & Materials ETF (IBAT) has a volatility of 13.41%. This indicates that TRP experiences smaller price fluctuations and is considered to be less risky than IBAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRP | IBAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.62% | 13.41% | -7.79% |
Volatility (6M)Calculated over the trailing 6-month period | 13.27% | 22.68% | -9.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.71% | 28.18% | -10.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.86% | 24.58% | -2.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.83% | 24.58% | +0.25% |
Dividends
TRP vs. IBAT - Dividend Comparison
TRP's dividend yield for the trailing twelve months is around 3.58%, more than IBAT's 0.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBAT iShares Energy Storage & Materials ETF | 0.76% | 1.15% | 1.37% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TRP TC Energy Corporation | 3.58% | 4.45% | 5.93% | 7.73% | 8.52% | 5.94% | 5.92% | 4.25% | 5.85% | 5.14% | 5.01% | 6.38% |
Frequently Asked Questions
TRP and IBAT have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBAT has higher volatility (13.41%) compared to TRP (5.62%). In terms of maximum drawdown, TRP dropped -62.52% vs IBAT's -28.26%.
IBAT currently has the higher Sharpe Ratio (3.63 vs 2.56), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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