VGSH vs. XEG.TO
VGSH (Vanguard Short-Term Treasury ETF) and XEG.TO (iShares S&P/TSX Capped Energy Index ETF) are both exchange-traded funds - VGSH is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year 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, VGSH returned 1.73%/yr vs 10.74%/yr for XEG.TO. At a correlation of -0.15, they often move in opposite directions. VGSH charges 0.03%/yr vs 0.60%/yr for XEG.TO.
Performance
VGSH vs. XEG.TO - Performance Comparison
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Different Trading Currencies
VGSH is traded in USD, while XEG.TO is traded in CAD. To make them comparable, the XEG.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, VGSH achieves a 0.57% return, which is significantly lower than XEG.TO's 35.78% return. Over the past 10 years, VGSH has underperformed XEG.TO with an annualized return of 1.73%, while XEG.TO has yielded a comparatively higher 10.74% annualized return.
VGSH
- 1D
- -0.03%
- 1M
- 0.16%
- YTD
- 0.57%
- 6M
- 0.83%
- 1Y
- 3.36%
- 3Y*
- 4.25%
- 5Y*
- 1.83%
- 10Y*
- 1.73%
XEG.TO
- 1D
- -0.60%
- 1M
- -5.73%
- YTD
- 35.78%
- 6M
- 35.60%
- 1Y
- 47.05%
- 3Y*
- 24.51%
- 5Y*
- 24.38%
- 10Y*
- 10.74%
VGSH vs. XEG.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGSH Vanguard Short-Term Treasury ETF | 0.57% | 5.07% | 4.00% | 4.31% | -3.86% | -0.60% | 3.04% | 3.52% | 1.55% | 0.04% |
XEG.TO iShares S&P/TSX Capped Energy Index ETF | 35.78% | 22.31% | 5.14% | 6.07% | 44.12% | 83.80% | -32.85% | 13.73% | -32.71% | -4.72% |
Correlation
The correlation between VGSH and XEG.TO is -0.30, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.17 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | -0.15 |
The correlation between VGSH and XEG.TO shifts across timeframes, from -0.30 (1 year) to -0.13 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VGSH vs. XEG.TO — Risk / Return Rank
VGSH
XEG.TO
VGSH vs. XEG.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Treasury ETF (VGSH) 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.
| VGSH | XEG.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.35 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 3.76 | 5.17 | -1.41 |
| Martin ratioReturn relative to average drawdown | 14.67 | 12.56 | +2.11 |
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Drawdowns
VGSH vs. XEG.TO - Drawdown Comparison
The maximum VGSH drawdown since its inception was -5.70%, smaller than the maximum XEG.TO drawdown of -91.23%. Use the drawdown chart below to compare losses from any high point for VGSH and XEG.TO.
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Drawdown Indicators
| VGSH | XEG.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.70% | -91.23% | +85.53% |
Max Drawdown (1Y)Largest decline over 1 year | -0.88% | -10.20% | +9.32% |
Max Drawdown (3Y)Largest decline over 3 years | -0.97% | -29.14% | +28.17% |
Max Drawdown (5Y)Largest decline over 5 years | -5.66% | -33.93% | +28.27% |
Max Drawdown (10Y)Largest decline over 10 years | -5.70% | -81.25% | +75.55% |
Current DrawdownCurrent decline from peak | -0.21% | -9.41% | +9.20% |
Average DrawdownAverage peak-to-trough decline | -0.60% | -43.49% | +42.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 4.19% | -3.96% |
Volatility
VGSH vs. XEG.TO - Volatility Comparison
The current volatility for Vanguard Short-Term Treasury ETF (VGSH) is 0.37%, while iShares S&P/TSX Capped Energy Index ETF (XEG.TO) has a volatility of 8.99%. This indicates that VGSH 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
| VGSH | XEG.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.37% | 8.99% | -8.62% |
Volatility (6M)Calculated over the trailing 6-month period | 0.90% | 19.69% | -18.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.28% | 23.91% | -22.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.97% | 29.53% | -27.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.58% | 34.27% | -32.69% |
VGSH vs. XEG.TO - Expense Ratio Comparison
VGSH has a 0.03% expense ratio, which is lower than XEG.TO's 0.60% expense ratio.
Dividends
VGSH vs. XEG.TO - Dividend Comparison
VGSH's dividend yield for the trailing twelve months is around 3.87%, more than XEG.TO's 2.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VGSH Vanguard Short-Term Treasury ETF | 3.87% | 4.00% | 4.18% | 3.31% | 1.15% | 0.66% | 1.74% | 2.28% | 1.79% | 1.10% | 0.84% | 0.69% |
XEG.TO iShares S&P/TSX Capped Energy Index ETF | 2.76% | 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
VGSH and XEG.TO have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGSH is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGSH is cheaper with a 0.03% expense ratio, compared with 0.60% for XEG.TO.
VGSH is categorized as Government Bonds, while XEG.TO is Energy Equities. VGSH tracks Bloomberg U.S. Treasury 1-3 Year Index, while XEG.TO tracks S&P/TSX Capped Energy Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.03% for VGSH and 0.60% for XEG.TO.
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