TRP vs. VDE

Last updated Jun 5, 2026

TRP (TC Energy Corporation) is a stock, while VDE (Vanguard Energy ETF) is Energy Equities fund tracking the MSCI US Investable Market Energy 25/50 Index. Over the past 10 years, TRP returned 11.91%/yr vs 9.47%/yr for VDE. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

TRP vs. VDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TC Energy Corporation (TRP) and Vanguard Energy ETF (VDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRP achieves a 26.61% return, which is significantly lower than VDE's 32.48% return. Over the past 10 years, TRP has outperformed VDE with an annualized return of 11.91%, while VDE has yielded a comparatively lower 9.47% annualized return.

TRP

• 1D: 1.70%
• 1M: 4.08%
• YTD: 26.61%
• 6M: 28.49%
• 1Y: 40.52%
• 3Y*: 30.83%
• 5Y*: 14.71%
• 10Y*: 11.91%

VDE

• 1D: 0.18%
• 1M: -1.99%
• YTD: 32.48%
• 6M: 28.99%
• 1Y: 48.54%
• 3Y*: 18.32%
• 5Y*: 20.47%
• 10Y*: 9.47%

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

TRP vs. VDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRP TC Energy Corporation	26.61%	24.02%	39.88%	6.09%	-7.83%	20.99%	-19.09%	56.30%	-22.64%	13.51%
VDE Vanguard Energy ETF	32.48%	7.11%	6.75%	0.03%	62.89%	56.31%	-33.02%	9.28%	-19.95%	-2.50%

Correlation

The correlation between TRP and VDE is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Sep 30, 2004	0.51

Over the past year, the correlation between TRP and VDE has dropped to 0.18 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

Return for Risk

TRP vs. VDE — Risk / Return Rank

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

TRP

TRP Risk / Return Rank: 89
TRP Sharpe Ratio Rank: 90
TRP Sortino Ratio Rank: 91
TRP Omega Ratio Rank: 86
TRP Calmar Ratio Rank: 89
TRP Martin Ratio Rank: 89

VDE

VDE Risk / Return Rank: 71
VDE Sharpe Ratio Rank: 75
VDE Sortino Ratio Rank: 68
VDE Omega Ratio Rank: 65
VDE Calmar Ratio Rank: 81
VDE Martin Ratio Rank: 67

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 vs. VDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TC Energy Corporation (TRP) and Vanguard Energy ETF (VDE). 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	VDE	Difference
Sharpe ratio: Return per unit of total volatility	2.27	2.41	-0.14
Sortino ratio: Return per unit of downside risk	3.34	3.06	+0.29
Omega ratio: Gain probability vs. loss probability	1.38	1.39	-0.01
Calmar ratio: Return relative to maximum drawdown	4.22	4.13	+0.08
Martin ratio: Return relative to average drawdown	10.86	12.11	-1.26
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 vs. VDE - Sharpe Ratio Comparison

The current TRP Sharpe Ratio is 2.27, which is comparable to the VDE Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of TRP and VDE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TRP	VDE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	2.41	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.78	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.32	+0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.28	+0.19

Drawdowns

TRP vs. VDE - Drawdown Comparison

The maximum TRP drawdown since its inception was -62.52%, smaller than the maximum VDE drawdown of -74.20%. Use the drawdown chart below to compare losses from any high point for TRP and VDE.

Drawdown Indicators

	TRP	VDE	Difference
Max Drawdown Largest peak-to-trough decline	-62.52%	-74.20%	+11.68%
Max Drawdown (1Y) Largest decline over 1 year	-9.65%	-11.80%	+2.15%
Max Drawdown (3Y) Largest decline over 3 years	-17.66%	-21.41%	+3.75%
Max Drawdown (5Y) Largest decline over 5 years	-37.05%	-26.58%	-10.47%
Max Drawdown (10Y) Largest decline over 10 years	-41.64%	-69.29%	+27.65%
Current Drawdown Current decline from peak	-2.76%	-6.27%	+3.51%
Average Drawdown Average peak-to-trough decline	-11.73%	-19.96%	+8.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	4.02%	-0.28%

Volatility

TRP vs. VDE - Volatility Comparison

The current volatility for TC Energy Corporation (TRP) is 5.98%, while Vanguard Energy ETF (VDE) has a volatility of 7.99%. This indicates that TRP experiences smaller price fluctuations and is considered to be less risky than VDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRP	VDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.98%	7.99%	-2.01%
Volatility (6M) Calculated over the trailing 6-month period	13.43%	16.27%	-2.84%
Volatility (1Y) Calculated over the trailing 1-year period	17.91%	20.34%	-2.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.86%	26.40%	-4.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.85%	29.93%	-5.08%

Dividends

TRP vs. VDE - Dividend Comparison

TRP's dividend yield for the trailing twelve months is around 3.60%, more than VDE's 2.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TRP TC Energy Corporation	3.60%	4.45%	5.93%	7.73%	8.52%	5.94%	5.92%	4.25%	5.85%	5.14%	5.01%	6.38%
VDE Vanguard Energy ETF	2.37%	3.11%	3.23%	3.34%	3.65%	4.13%	4.76%	3.42%	3.35%	2.90%	2.31%	3.17%

Frequently Asked Questions

Can I hold both TRP and VDE in my portfolio?

TRP and VDE have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRP or VDE?

VDE has higher volatility (7.99%) compared to TRP (5.98%). In terms of maximum drawdown, TRP dropped -62.52% vs VDE's -74.20%.

Which has better risk-adjusted returns?

VDE currently has the higher Sharpe Ratio (2.41 vs 2.27), 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.