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VCN.TO vs. XEG.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VCN.TO vs. XEG.TO

Last updated Jul 18, 2026
Documentation

VCN.TO (Vanguard FTSE Canada All Cap Index ETF) and XEG.TO (iShares S&P/TSX Capped Energy Index ETF) are both exchange-traded funds - VCN.TO is a Canada Equities fund tracking the FTSE Canada All Cap Domestic Index, while XEG.TO is a Energy Equities fund tracking the S&P/TSX Capped Energy Index. Both are passively managed. Over the past 10 years, VCN.TO returned 12.41%/yr vs 11.12%/yr for XEG.TO. A 0.54 correlation means they provide meaningful diversification when combined. VCN.TO charges 0.06%/yr vs 0.60%/yr for XEG.TO.

Performance

VCN.TO vs. XEG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Canada All Cap Index ETF (VCN.TO) and iShares S&P/TSX Capped Energy Index ETF (XEG.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, VCN.TO achieves a 12.22% return, which is significantly lower than XEG.TO's 37.71% return. Over the past 10 years, VCN.TO has outperformed XEG.TO with an annualized return of 12.41%, while XEG.TO has yielded a comparatively lower 11.12% annualized return.

VCN.TO

1D
-0.25%
1M
0.57%
6M
7.72%
YTD
12.22%
1Y
30.90%
3Y*
23.42%
5Y*
15.33%
10Y*
12.41%

XEG.TO

1D
1.79%
1M
5.60%
6M
30.71%
YTD
37.71%
1Y
57.22%
3Y*
24.91%
5Y*
30.84%
10Y*
11.12%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VCN.TO vs. XEG.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VCN.TO
Vanguard FTSE Canada All Cap Index ETF		12.22%31.00%22.16%12.29%-5.76%25.65%4.83%22.09%-9.09%8.44%
XEG.TO
iShares S&P/TSX Capped Energy Index ETF		37.71%16.72%14.04%3.55%53.25%83.71%-34.44%9.04%-27.05%-11.17%

Correlation

The correlation between VCN.TO and XEG.TO is 0.04, 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

0.04

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

0.31

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

0.46

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

0.55

Correlation (All Time)
Calculated using the full available price history since Aug 13, 2013

0.54

Over the past year, the correlation between VCN.TO and XEG.TO has dropped to 0.04 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

VCN.TO vs. XEG.TO - Sectors Allocation Comparison

Sectors
VCN.TO
XEG.TO

Financial Services

34.4%

-

Basic Materials

18.3%

-

Energy

17.6%
100.0%

Industrials

10.3%

-

Technology

7.5%

-

Consumer Cyclical

3.5%

-

Consumer Defensive

2.7%

-

Utilities

2.7%

-

Real Estate

1.5%

-

Communication Services

1.5%

-

Healthcare

0.1%

-

Financial Services

VCN.TO
34.4%
XEG.TO

-

Basic Materials

VCN.TO
18.3%
XEG.TO

-

Energy

VCN.TO
17.6%
XEG.TO
100.0%

Industrials

VCN.TO
10.3%
XEG.TO

-

Technology

VCN.TO
7.5%
XEG.TO

-

Consumer Cyclical

VCN.TO
3.5%
XEG.TO

-

Consumer Defensive

VCN.TO
2.7%
XEG.TO

-

Utilities

VCN.TO
2.7%
XEG.TO

-

Real Estate

VCN.TO
1.5%
XEG.TO

-

Communication Services

VCN.TO
1.5%
XEG.TO

-

Healthcare

VCN.TO
0.1%
XEG.TO

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard FTSE Canada All Cap Index ETF

iShares S&P/TSX Capped Energy Index ETF

Often compared with VCN.TO:
VCN.TO vs. VDY.TOVCN.TO vs. VFV.TOVCN.TO vs. VCE.TOVCN.TO vs. XEQT.TOVCN.TO vs. VIU.TOVCN.TO vs. VUN.TOVCN.TO vs. HXT.TO
Often compared with XEG.TO:
XEG.TO vs. XLEXEG.TO vs. XEQT.TOXEG.TO vs. CNQ.TOXEG.TO vs. ZEO.TOXEG.TO vs. HXE.TOXEG.TO vs. XDIV.TOXEG.TO vs. XCG.TO

Return for Risk

VCN.TO vs. XEG.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VCN.TO
VCN.TO Risk / Return Rank: 8686
Overall Rank
VCN.TO Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
VCN.TO Sortino Ratio Rank: 8585
Sortino Ratio Rank
VCN.TO Omega Ratio Rank: 8787
Omega Ratio Rank
VCN.TO Calmar Ratio Rank: 8181
Calmar Ratio Rank
VCN.TO Martin Ratio Rank: 9090
Martin Ratio Rank
XEG.TO
XEG.TO Risk / Return Rank: 8282
Overall Rank
XEG.TO Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
XEG.TO Sortino Ratio Rank: 8181
Sortino Ratio Rank
XEG.TO Omega Ratio Rank: 8282
Omega Ratio Rank
XEG.TO Calmar Ratio Rank: 8282
Calmar Ratio Rank
XEG.TO Martin Ratio Rank: 7474
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.

VCN.TO vs. XEG.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Canada All Cap Index ETF (VCN.TO) and iShares S&P/TSX Capped Energy Index ETF (XEG.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.

VCN.TOXEG.TODifference
Sharpe ratioReturn per unit of total volatility
2.39
2.40

-0.02

Sortino ratioReturn per unit of downside risk
3.11
2.92

+0.19

Omega ratioGain probability vs. loss probability

1.43

1.39

+0.04

Calmar ratioReturn relative to maximum drawdown

3.41

3.49

-0.08

Martin ratioReturn relative to average drawdown

15.57

10.66

+4.91

VCN.TO vs. XEG.TO - Sharpe Ratio Comparison

The current VCN.TO Sharpe Ratio is 2.39, which is comparable to the XEG.TO Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of VCN.TO and XEG.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

VCN.TO vs. XEG.TO - Drawdown Comparison

The maximum VCN.TO drawdown since its inception was -37.32%, smaller than the maximum XEG.TO drawdown of -87.51%. Use the drawdown chart below to compare losses from any high point for VCN.TO and XEG.TO.

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Drawdown Indicators

VCN.TOXEG.TODifference

Max Drawdown

Largest peak-to-trough decline

-37.32%

-87.51%

+50.19%

Max Drawdown (1Y)

Largest decline over 1 year

-9.11%

-16.47%

+7.36%

Max Drawdown (3Y)

Largest decline over 3 years

-12.24%

-25.67%

+13.43%

Max Drawdown (5Y)

Largest decline over 5 years

-16.12%

-28.42%

+12.30%

Max Drawdown (10Y)

Largest decline over 10 years

-37.32%

-79.66%

+42.34%

Current Drawdown

Current decline from peak

-0.50%

-8.41%

+7.91%

Average Drawdown

Average peak-to-trough decline

-3.87%

-34.53%

+30.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.99%

5.38%

-3.39%

Volatility

VCN.TO vs. XEG.TO - Volatility Comparison

The current volatility for Vanguard FTSE Canada All Cap Index ETF (VCN.TO) is 2.12%, while iShares S&P/TSX Capped Energy Index ETF (XEG.TO) has a volatility of 7.73%. This indicates that VCN.TO experiences smaller price fluctuations and is considered to be less risky than XEG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VCN.TOXEG.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.12%

7.73%

-5.61%

Volatility (6M)

Calculated over the trailing 6-month period

10.59%

19.84%

-9.25%

Volatility (1Y)

Calculated over the trailing 1-year period

13.03%

23.94%

-10.91%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.10%

28.63%

-15.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.96%

33.41%

-18.45%

VCN.TO vs. XEG.TO - Expense Ratio Comparison

VCN.TO has a 0.06% expense ratio, which is lower than XEG.TO's 0.60% expense ratio.

Dividends

VCN.TO vs. XEG.TO - Dividend Comparison

VCN.TO's dividend yield for the trailing twelve months is around 2.02%, less than XEG.TO's 2.68% yield.

PositionTTM20252024202320222021202020192018201720162015
VCN.TO
Vanguard FTSE Canada All Cap Index ETF		2.02%2.27%2.71%3.00%3.17%2.49%2.72%2.88%2.83%2.29%2.36%2.68%
XEG.TO
iShares S&P/TSX Capped Energy Index ETF		2.68%3.63%3.46%4.26%3.31%1.64%2.96%2.70%2.25%1.41%1.40%3.58%

Frequently Asked Questions

VCN.TO and XEG.TO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VCN.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VCN.TO is cheaper with a 0.06% expense ratio, compared with 0.60% for XEG.TO.

VCN.TO is categorized as Canada Equities, while XEG.TO is Energy Equities. VCN.TO tracks FTSE Canada All Cap Domestic Index, while XEG.TO tracks S&P/TSX Capped Energy Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.06% for VCN.TO and 0.60% for XEG.TO.

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