XCV.TO vs. XEG.TO
XCV.TO (iShares Canadian Value Index ETF) and XEG.TO (iShares S&P/TSX Capped Energy Index ETF) are both exchange-traded funds - XCV.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD, 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, XCV.TO returned 13.20%/yr vs 11.85%/yr for XEG.TO. A 0.63 correlation means they provide meaningful diversification when combined. XCV.TO charges 0.55%/yr vs 0.61%/yr for XEG.TO.
Performance
XCV.TO vs. XEG.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XCV.TO achieves a 19.17% return, which is significantly lower than XEG.TO's 44.34% return. Over the past 10 years, XCV.TO has outperformed XEG.TO with an annualized return of 13.20%, while XEG.TO has yielded a comparatively lower 11.85% annualized return.
XCV.TO
- 1D
- -0.02%
- 1M
- 4.70%
- YTD
- 19.17%
- 6M
- 19.26%
- 1Y
- 44.26%
- 3Y*
- 27.30%
- 5Y*
- 17.83%
- 10Y*
- 13.20%
XEG.TO
- 1D
- 1.17%
- 1M
- -0.04%
- YTD
- 44.34%
- 6M
- 39.73%
- 1Y
- 70.40%
- 3Y*
- 28.08%
- 5Y*
- 29.48%
- 10Y*
- 11.85%
XCV.TO vs. XEG.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XCV.TO iShares Canadian Value Index ETF | 19.17% | 32.17% | 21.26% | 9.47% | 1.87% | 32.71% | -2.56% | 18.02% | -11.15% | 8.75% |
XEG.TO iShares S&P/TSX Capped Energy Index ETF | 44.34% | 16.72% | 14.08% | 3.52% | 53.25% | 83.71% | -34.41% | 8.98% | -27.05% | -11.18% |
Correlation
The correlation between XCV.TO and XEG.TO is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2006 | 0.63 |
Over the past year, the correlation between XCV.TO and XEG.TO has dropped to 0.26 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.
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Return for Risk
XCV.TO vs. XEG.TO — Risk / Return Rank
XCV.TO
XEG.TO
XCV.TO vs. XEG.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Value Index ETF (XCV.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.
| XCV.TO | XEG.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.85 | ||
| Sortino ratioReturn per unit of downside risk | +2.96 | ||
| Omega ratioGain probability vs. loss probability | 2.03 | 1.49 | +0.54 |
| Calmar ratioReturn relative to maximum drawdown | 11.53 | 6.36 | +5.17 |
| Martin ratioReturn relative to average drawdown | 43.47 | 19.02 | +24.44 |
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
| XCV.TO | XEG.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.97 | 3.11 | +1.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.39 | 1.04 | +0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.85 | 0.36 | +0.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.28 | +0.26 |
Drawdowns
XCV.TO vs. XEG.TO - Drawdown Comparison
The maximum XCV.TO drawdown since its inception was -52.49%, smaller than the maximum XEG.TO drawdown of -87.74%. Use the drawdown chart below to compare losses from any high point for XCV.TO and XEG.TO.
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Drawdown Indicators
| XCV.TO | XEG.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.49% | -87.74% | +35.25% |
Max Drawdown (1Y)Largest decline over 1 year | -3.86% | -11.12% | +7.26% |
Max Drawdown (3Y)Largest decline over 3 years | -9.71% | -25.67% | +15.96% |
Max Drawdown (5Y)Largest decline over 5 years | -18.08% | -28.42% | +10.34% |
Max Drawdown (10Y)Largest decline over 10 years | -41.18% | -79.66% | +38.48% |
Current DrawdownCurrent decline from peak | -0.89% | -4.00% | +3.11% |
Average DrawdownAverage peak-to-trough decline | -6.67% | -29.19% | +22.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 3.71% | -2.69% |
Volatility
XCV.TO vs. XEG.TO - Volatility Comparison
The current volatility for iShares Canadian Value Index ETF (XCV.TO) is 3.27%, while iShares S&P/TSX Capped Energy Index ETF (XEG.TO) has a volatility of 9.31%. This indicates that XCV.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
| XCV.TO | XEG.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.27% | 9.31% | -6.04% |
Volatility (6M)Calculated over the trailing 6-month period | 7.65% | 18.99% | -11.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.96% | 22.76% | -13.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.87% | 28.62% | -15.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 33.41% | -17.87% |
XCV.TO vs. XEG.TO - Expense Ratio Comparison
XCV.TO has a 0.55% expense ratio, which is lower than XEG.TO's 0.61% expense ratio.
Dividends
XCV.TO vs. XEG.TO - Dividend Comparison
XCV.TO's dividend yield for the trailing twelve months is around 2.29%, less than XEG.TO's 2.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XCV.TO iShares Canadian Value Index ETF | 2.29% | 2.71% | 3.72% | 3.88% | 3.18% | 2.11% | 3.35% | 3.06% | 3.13% | 2.40% | 2.50% | 3.14% |
XEG.TO iShares S&P/TSX Capped Energy Index ETF | 2.65% | 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
XCV.TO and XEG.TO have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XCV.TO is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XCV.TO is cheaper with a 0.55% expense ratio, compared with 0.61% for XEG.TO.
XCV.TO is categorized as Canada Equities, while XEG.TO is Energy Equities. XCV.TO tracks Morningstar Canada GR CAD, while XEG.TO tracks S&P/TSX Capped Energy Index. Their fees differ too: 0.55% for XCV.TO and 0.61% for XEG.TO.
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