XBM.TO vs. PPLN.TO
XBM.TO (iShares S&P/TSX Global Base Metals Index ETF) and PPLN.TO (Global X Equal Weight Canadian Pipelines Index ETF) are both Energy Equities funds - XBM.TO tracks the Morningstar Can Natural Resource NR CAD while PPLN.TO tracks the Mirae Asset Equal Weight Canadian Pipeline Index. Both are passively managed. Over the past 10 years, XBM.TO returned 20.17%/yr vs 10.87%/yr for PPLN.TO. At a 0.35 correlation, their price movements are largely independent. XBM.TO charges 0.60%/yr vs 0.31%/yr for PPLN.TO.
Performance
XBM.TO vs. PPLN.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XBM.TO achieves a 38.48% return, which is significantly higher than PPLN.TO's 29.04% return. Over the past 10 years, XBM.TO has outperformed PPLN.TO with an annualized return of 20.17%, while PPLN.TO has yielded a comparatively lower 10.87% annualized return.
XBM.TO
- 1D
- -3.17%
- 1M
- 21.23%
- YTD
- 38.48%
- 6M
- 46.72%
- 1Y
- 119.30%
- 3Y*
- 29.93%
- 5Y*
- 19.70%
- 10Y*
- 20.17%
PPLN.TO
- 1D
- -0.24%
- 1M
- 6.16%
- YTD
- 29.04%
- 6M
- 28.59%
- 1Y
- 39.15%
- 3Y*
- 18.78%
- 5Y*
- 14.07%
- 10Y*
- 10.87%
XBM.TO vs. PPLN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XBM.TO iShares S&P/TSX Global Base Metals Index ETF | 38.48% | 50.69% | 5.96% | 2.84% | 3.69% | 32.04% | 31.54% | 9.93% | -22.39% | 32.45% |
PPLN.TO Global X Equal Weight Canadian Pipelines Index ETF | 29.04% | 4.14% | 17.18% | 8.45% | 16.63% | 33.83% | -17.80% | 20.50% | -11.54% | -2.67% |
Correlation
The correlation between XBM.TO and PPLN.TO is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2014 | 0.35 |
The correlation between XBM.TO and PPLN.TO shifts across timeframes, from -0.05 (1 year) to 0.36 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XBM.TO vs. PPLN.TO — Risk / Return Rank
XBM.TO
PPLN.TO
XBM.TO vs. PPLN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Global Base Metals Index ETF (XBM.TO) and Global X Equal Weight Canadian Pipelines Index ETF (PPLN.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.
| XBM.TO | PPLN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.47 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 5.02 | 3.85 | +1.18 |
| Martin ratioReturn relative to average drawdown | 19.44 | 10.25 | +9.19 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XBM.TO | PPLN.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.37 | 2.73 | +0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.81 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | 0.47 | +0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.33 | -0.08 |
Drawdowns
XBM.TO vs. PPLN.TO - Drawdown Comparison
The maximum XBM.TO drawdown since its inception was -67.40%, which is greater than PPLN.TO's maximum drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for XBM.TO and PPLN.TO.
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Drawdown Indicators
| XBM.TO | PPLN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.40% | -59.05% | -8.35% |
Max Drawdown (1Y)Largest decline over 1 year | -23.88% | -10.22% | -13.66% |
Max Drawdown (3Y)Largest decline over 3 years | -37.45% | -15.31% | -22.14% |
Max Drawdown (5Y)Largest decline over 5 years | -40.57% | -18.54% | -22.03% |
Max Drawdown (10Y)Largest decline over 10 years | -57.24% | -59.05% | +1.81% |
Current DrawdownCurrent decline from peak | -3.17% | -2.93% | -0.24% |
Average DrawdownAverage peak-to-trough decline | -25.80% | -9.47% | -16.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.16% | 3.84% | +2.32% |
Volatility
XBM.TO vs. PPLN.TO - Volatility Comparison
iShares S&P/TSX Global Base Metals Index ETF (XBM.TO) has a higher volatility of 13.03% compared to Global X Equal Weight Canadian Pipelines Index ETF (PPLN.TO) at 5.77%. This indicates that XBM.TO's price experiences larger fluctuations and is considered to be riskier than PPLN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XBM.TO | PPLN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.03% | 5.77% | +7.26% |
Volatility (6M)Calculated over the trailing 6-month period | 29.68% | 11.56% | +18.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.62% | 14.40% | +21.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.06% | 17.40% | +15.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.66% | 23.20% | +9.46% |
XBM.TO vs. PPLN.TO - Expense Ratio Comparison
XBM.TO has a 0.60% expense ratio, which is higher than PPLN.TO's 0.31% expense ratio.
Dividends
XBM.TO vs. PPLN.TO - Dividend Comparison
XBM.TO's dividend yield for the trailing twelve months is around 0.62%, less than PPLN.TO's 4.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PPLN.TO Global X Equal Weight Canadian Pipelines Index ETF | 4.26% | 4.35% | 2.94% | 3.77% | 3.23% | 3.47% | 5.76% | 4.40% | 5.21% | 4.31% | 3.99% | 4.41% |
XBM.TO iShares S&P/TSX Global Base Metals Index ETF | 0.62% | 0.86% | 1.25% | 2.09% | 4.83% | 3.01% | 1.81% | 3.71% | 3.43% | 1.63% | 2.42% | 5.70% |
Frequently Asked Questions
XBM.TO and PPLN.TO have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PPLN.TO is cheaper at 0.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PPLN.TO is cheaper with a 0.31% expense ratio, compared with 0.60% for XBM.TO.
XBM.TO tracks Morningstar Can Natural Resource NR CAD, while PPLN.TO tracks Mirae Asset Equal Weight Canadian Pipeline Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.60% for XBM.TO and 0.31% for PPLN.TO.
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