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

XEG.TO vs. ENB.TO

Last updated Jun 14, 2026

XEG.TO (iShares S&P/TSX Capped Energy Index ETF) is Energy Equities fund tracking the S&P/TSX Capped Energy Index, while ENB.TO (Enbridge Inc.) is a stock. Over the past 10 years, XEG.TO returned 11.69%/yr vs 10.59%/yr for ENB.TO. At a 0.45 correlation, their price movements are largely independent.

Performance

XEG.TO vs. ENB.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 Enbridge Inc. (ENB.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 38.53% return, which is significantly higher than ENB.TO's 23.42% return. Over the past 10 years, XEG.TO has outperformed ENB.TO with an annualized return of 11.69%, while ENB.TO has yielded a comparatively lower 10.59% annualized return.

XEG.TO

1D
-0.41%
1M
-3.89%
YTD
38.53%
6M
37.54%
1Y
51.12%
3Y*
26.37%
5Y*
28.03%
10Y*
11.69%

ENB.TO

1D
0.13%
1M
3.74%
YTD
23.42%
6M
23.83%
1Y
31.58%
3Y*
24.19%
5Y*
17.63%
10Y*
10.59%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
XEG.TO
iShares S&P/TSX Capped Energy Index ETF		38.53%16.72%14.04%3.55%53.25%83.71%-34.44%9.04%-27.05%-11.17%
ENB.TO
Enbridge Inc.		23.42%14.09%37.18%-3.28%13.96%29.98%-15.30%29.43%-8.30%-8.84%

Correlation

The correlation between XEG.TO and ENB.TO is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.29

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

0.31

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

0.44

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

0.46

Correlation (All Time)
Calculated using the full available price history since Jul 12, 2006

0.45

The correlation between XEG.TO and ENB.TO shifts across timeframes, from 0.29 (1 year) to 0.46 (10 years), reflecting how their relationship changes across market environments.

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

Enbridge Inc.

Often compared with XEG.TO:
XEG.TO vs. XLEXEG.TO vs. XEQT.TOXEG.TO vs. CNQ.TOXEG.TO vs. HXE.TOXEG.TO vs. ZEO.TOXEG.TO vs. XDIV.TOXEG.TO vs. XCG.TO
Often compared with ENB.TO:
ENB.TO vs. CNQ.TOENB.TO vs. PPL.TOENB.TO vs. SU.TOENB.TO vs. WCP.TOENB.TO vs. TRP.TOENB.TO vs. TD.TOENB.TO vs. BCE.TO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XEG.TO
XEG.TO Risk / Return Rank: 8282
Overall Rank
XEG.TO Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
XEG.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
XEG.TO Omega Ratio Rank: 7676
Omega Ratio Rank
XEG.TO Calmar Ratio Rank: 9191
Calmar Ratio Rank
XEG.TO Martin Ratio Rank: 8383
Martin Ratio Rank
ENB.TO
ENB.TO Risk / Return Rank: 8787
Overall Rank
ENB.TO Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
ENB.TO Sortino Ratio Rank: 8888
Sortino Ratio Rank
ENB.TO Omega Ratio Rank: 8585
Omega Ratio Rank
ENB.TO Calmar Ratio Rank: 8686
Calmar Ratio Rank
ENB.TO Martin Ratio Rank: 8686
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.

XEG.TO vs. ENB.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 Enbridge Inc. (ENB.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.TOENB.TODifference
Sharpe ratioReturn per unit of total volatility
2.41
2.00

+0.41

Sortino ratioReturn per unit of downside risk
2.93
2.83

+0.10

Omega ratioGain probability vs. loss probability

1.39

1.34

+0.05

Calmar ratioReturn relative to maximum drawdown

5.04

3.30

+1.75

Martin ratioReturn relative to average drawdown

14.38

8.61

+5.77

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

The current XEG.TO Sharpe Ratio is 2.41, which is comparable to the ENB.TO Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of XEG.TO and ENB.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. ENB.TO - Drawdown Comparison

The maximum XEG.TO drawdown since its inception was -87.51%, which is greater than ENB.TO's maximum drawdown of -39.47%. Use the drawdown chart below to compare losses from any high point for XEG.TO and ENB.TO.

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Drawdown Indicators

XEG.TOENB.TODifference

Max Drawdown

Largest peak-to-trough decline

-87.51%

-39.47%

-48.04%

Max Drawdown (1Y)

Largest decline over 1 year

-11.12%

-9.42%

-1.70%

Max Drawdown (3Y)

Largest decline over 3 years

-25.67%

-11.56%

-14.11%

Max Drawdown (5Y)

Largest decline over 5 years

-28.42%

-21.38%

-7.04%

Max Drawdown (10Y)

Largest decline over 10 years

-79.66%

-39.47%

-40.19%

Current Drawdown

Current decline from peak

-7.87%

-1.51%

-6.36%

Average Drawdown

Average peak-to-trough decline

-34.55%

-8.34%

-26.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.89%

3.66%

+0.23%

Volatility

XEG.TO vs. ENB.TO - Volatility Comparison

iShares S&P/TSX Capped Energy Index ETF (XEG.TO) has a higher volatility of 9.11% compared to Enbridge Inc. (ENB.TO) at 5.97%. This indicates that XEG.TO's price experiences larger fluctuations and is considered to be riskier than ENB.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.TOENB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

9.11%

5.97%

+3.14%

Volatility (6M)

Calculated over the trailing 6-month period

19.65%

12.62%

+7.03%

Volatility (1Y)

Calculated over the trailing 1-year period

23.30%

15.64%

+7.66%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

28.72%

15.69%

+13.03%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.40%

22.43%

+10.97%

Dividends

XEG.TO vs. ENB.TO - Dividend Comparison

XEG.TO's dividend yield for the trailing twelve months is around 2.76%, less than ENB.TO's 4.84% yield.

PositionTTM20252024202320222021202020192018201720162015
ENB.TO
Enbridge Inc.		4.84%5.74%6.00%7.44%6.50%6.76%7.96%5.72%6.33%4.91%3.75%4.04%
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

XEG.TO and ENB.TO have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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