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

XEG.TO vs. BANK.TO

Last updated Aug 4, 2026
Documentation

XEG.TO (iShares S&P/TSX Capped Energy Index ETF) and BANK.TO (Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund) are both exchange-traded funds - XEG.TO is a Energy Equities fund tracking the S&P/TSX Capped Energy Index, while BANK.TO is a Derivative Income fund tracking the Solactive Canadian Core Financials Equal Weight Index. Both are passively managed. Over the past 3 years, XEG.TO returned 24.75%/yr vs 35.53%/yr for BANK.TO. Their 0.21 correlation means their historical movements had little consistent relationship. Both charge a 0.60% expense ratio.

Performance

XEG.TO vs. BANK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Capped Energy Index ETF (XEG.TO) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.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, XEG.TO achieves a 46.30% return, which is significantly higher than BANK.TO's 33.28% return.

XEG.TO

1D
0.69%
1M
15.08%
6M
33.01%
YTD
46.30%
1Y
65.86%
3Y*
24.75%
5Y*
32.72%
10Y*
12.29%
ALL TIME*
4.78%

BANK.TO

1D
0.61%
1M
3.03%
6M
33.00%
YTD
33.28%
1Y
70.04%
3Y*
35.53%
5Y*
—
10Y*
—
ALL TIME*
19.46%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

BANK.TO

Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund
CA$7.71MCA$6.93MCA$5.91M

XEG.TO

iShares S&P/TSX Capped Energy Index ETF
CA$58.70MCA$53.16MCA$56.38M

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

2026 (YTD)2025202420232022
XEG.TO
iShares S&P/TSX Capped Energy Index ETF		46.30%16.72%14.04%3.55%25.69%
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund		33.28%41.00%27.90%16.23%-20.47%

Correlation

The correlation between XEG.TO and BANK.TO is -0.24, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

-0.24

Correlation (3Y)
Balances recent behavior with more history.

0.07

Correlation (All Time)
Calculated using the full available price history since Feb 2, 2022

0.21

The correlation between XEG.TO and BANK.TO shifts across timeframes, from -0.24 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.

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

Sectors
XEG.TO
BANK.TO

Energy

100.0%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

100.0%

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Energy

XEG.TO
100.0%
BANK.TO

-

Basic Materials

XEG.TO

-

BANK.TO

-

Communication Services

XEG.TO

-

BANK.TO

-

Consumer Cyclical

XEG.TO

-

BANK.TO

-

Consumer Defensive

XEG.TO

-

BANK.TO

-

Financial Services

XEG.TO

-

BANK.TO
100.0%

Healthcare

XEG.TO

-

BANK.TO

-

Industrials

XEG.TO

-

BANK.TO

-

Real Estate

XEG.TO

-

BANK.TO

-

Technology

XEG.TO

-

BANK.TO

-

Utilities

XEG.TO

-

BANK.TO

-

Compare stocks, funds, or ETFs

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

iShares S&P/TSX Capped Energy Index ETF

Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund

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
Often compared with BANK.TO:
BANK.TO vs. HMAX.TOBANK.TO vs. HCAL.TOBANK.TO vs. VDY.TOBANK.TO vs. RBNK.TOBANK.TO vs. HYLD.TOBANK.TO vs. VCN.TOBANK.TO vs. VEQT.TO

Return for Risk

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

Compare historical risk-adjusted metric ranks over the past 12 months.
XEG.TO
XEG.TO Risk / Return Rank: 8989
Overall Rank
XEG.TO Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
XEG.TO Sortino Ratio Rank: 8888
Sortino Ratio Rank
XEG.TO Omega Ratio Rank: 8989
Omega Ratio Rank
XEG.TO Calmar Ratio Rank: 8989
Calmar Ratio Rank
XEG.TO Martin Ratio Rank: 8383
Martin Ratio Rank
BANK.TO
BANK.TO Risk / Return Rank: 9898
Overall Rank
BANK.TO Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
BANK.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
BANK.TO Omega Ratio Rank: 9898
Omega Ratio Rank
BANK.TO Calmar Ratio Rank: 9797
Calmar Ratio Rank
BANK.TO Martin Ratio Rank: 9797
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Capped Energy Index ETF (XEG.TO) and Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.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.

XEG.TOBANK.TODifference
Sharpe ratioReturn per unit of total volatility
2.58
5.12

-2.55

Sortino ratioReturn per unit of downside risk
3.09
6.39

-3.30

Omega ratioGain probability vs. loss probability

1.41

1.92

-0.51

Calmar ratioReturn relative to maximum drawdown

3.82

8.38

-4.56

Martin ratioReturn relative to average drawdown

11.60

36.52

-24.92

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

The current XEG.TO Sharpe Ratio is 2.58, which is lower than the BANK.TO Sharpe Ratio of 5.12. The chart below compares the historical Sharpe Ratios of XEG.TO and BANK.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

XEG.TO vs. BANK.TO - Drawdown Comparison

The maximum XEG.TO drawdown since its inception was -87.51%, which is greater than BANK.TO's maximum drawdown of -29.03%. Use the drawdown chart below to compare losses from any high point for XEG.TO and BANK.TO.

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Drawdown Indicators

XEG.TOBANK.TODifference

Max Drawdown

Largest peak-to-trough decline

-87.51%

-29.03%

-58.48%

Max Drawdown (1Y)

Largest decline over 1 year

-16.47%

-8.27%

-8.20%

Max Drawdown (3Y)

Largest decline over 3 years

-25.67%

-14.49%

-11.18%

Max Drawdown (5Y)

Largest decline over 5 years

-28.42%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-79.66%

—

—

Current Drawdown

Current decline from peak

-2.70%

-0.97%

-1.73%

Average Drawdown

Average peak-to-trough decline

-34.46%

-8.50%

-25.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.44%

1.90%

+3.54%

Volatility

XEG.TO vs. BANK.TO - Volatility Comparison

iShares S&P/TSX Capped Energy Index ETF (XEG.TO) has a higher volatility of 8.21% compared to Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) at 6.14%. This indicates that XEG.TO's price experiences larger fluctuations and is considered to be riskier than BANK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XEG.TOBANK.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

8.21%

6.14%

+2.07%

Volatility (6M)

Calculated over the trailing 6-month period

20.17%

11.74%

+8.43%

Volatility (1Y)

Calculated over the trailing 1-year period

24.45%

13.55%

+10.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

28.62%

15.71%

+12.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.42%

15.71%

+17.71%

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

Both XEG.TO and BANK.TO have an expense ratio of 0.60%.

Dividends

XEG.TO vs. BANK.TO - Dividend Comparison

XEG.TO's dividend yield for the trailing twelve months is around 2.52%, less than BANK.TO's 12.29% yield.

PositionTTM20252024202320222021202020192018201720162015
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund		12.29%13.73%15.28%13.60%10.52%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XEG.TO
iShares S&P/TSX Capped Energy Index ETF		2.52%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

XEG.TO and BANK.TO have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Both ETFs have the same 0.60% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

XEG.TO and BANK.TO have the same expense ratio: 0.60% per year.

XEG.TO is categorized as Energy Equities, while BANK.TO is Derivative Income. XEG.TO tracks S&P/TSX Capped Energy Index, while BANK.TO tracks Solactive Canadian Core Financials Equal Weight Index. They also come from different issuers: iShares and Evolve.

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