XEG.TO vs. HEWB.TO
XEG.TO (iShares S&P/TSX Capped Energy Index ETF) and HEWB.TO (Global X Equal Weight Canadian Banks Index Corporate Class ETF) are both exchange-traded funds - XEG.TO is a Energy Equities fund tracking the S&P/TSX Capped Energy Index, while HEWB.TO is a Canada Equities fund tracking the Solactive Equal Weight Canada Banks Index. Both are passively managed. Over the past 5 years, XEG.TO returned 26.37%/yr vs 20.43%/yr for HEWB.TO. At a 0.33 correlation, their price movements are largely independent. XEG.TO charges 0.60%/yr vs 0.28%/yr for HEWB.TO.
Performance
XEG.TO vs. HEWB.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with XEG.TO having a 30.47% return and HEWB.TO slightly lower at 30.39%.
XEG.TO
- 1D
- 0.20%
- 1M
- -11.00%
- YTD
- 30.47%
- 6M
- 33.01%
- 1Y
- 46.85%
- 3Y*
- 25.76%
- 5Y*
- 26.37%
- 10Y*
- 10.96%
HEWB.TO
- 1D
- 0.32%
- 1M
- 8.23%
- YTD
- 30.39%
- 6M
- 30.16%
- 1Y
- 73.55%
- 3Y*
- 37.83%
- 5Y*
- 20.43%
- 10Y*
- —
XEG.TO vs. HEWB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XEG.TO iShares S&P/TSX Capped Energy Index ETF | 30.47% | 16.72% | 14.04% | 3.55% | 53.25% | 83.71% | -34.44% | -5.56% |
HEWB.TO Global X Equal Weight Canadian Banks Index Corporate Class ETF | 30.39% | 43.48% | 24.54% | 11.00% | -10.46% | 39.19% | 4.74% | 3.56% |
Correlation
The correlation between XEG.TO and HEWB.TO is -0.15, 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 | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Mar 4, 2019 | 0.33 |
The correlation between XEG.TO and HEWB.TO shifts across timeframes, from -0.15 (1 year) to 0.33 (all time), reflecting how their relationship changes across market environments.
XEG.TO vs. HEWB.TO - Sectors Allocation Comparison
Sectors
XEG.TO
HEWB.TO
Energy
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Basic Materials
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Communication Services
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Consumer Cyclical
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Consumer Defensive
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Financial Services
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Healthcare
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Industrials
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Real Estate
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Technology
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Utilities
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Energy
XEG.TO
HEWB.TO
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Basic Materials
XEG.TO
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HEWB.TO
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Communication Services
XEG.TO
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HEWB.TO
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Consumer Cyclical
XEG.TO
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HEWB.TO
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Consumer Defensive
XEG.TO
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HEWB.TO
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Financial Services
XEG.TO
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HEWB.TO
Healthcare
XEG.TO
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HEWB.TO
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Industrials
XEG.TO
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HEWB.TO
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Real Estate
XEG.TO
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HEWB.TO
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Technology
XEG.TO
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HEWB.TO
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Utilities
XEG.TO
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HEWB.TO
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Return for Risk
XEG.TO vs. HEWB.TO — Risk / Return Rank
XEG.TO
HEWB.TO
XEG.TO vs. HEWB.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 Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB.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.TO | HEWB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.65 | ||
| Sortino ratioReturn per unit of downside risk | -4.92 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 2.04 | -0.71 |
| Calmar ratioReturn relative to maximum drawdown | 3.14 | 8.25 | -5.10 |
| Martin ratioReturn relative to average drawdown | 11.48 | 37.57 | -26.09 |
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Drawdowns
XEG.TO vs. HEWB.TO - Drawdown Comparison
The maximum XEG.TO drawdown since its inception was -87.51%, which is greater than HEWB.TO's maximum drawdown of -39.43%. Use the drawdown chart below to compare losses from any high point for XEG.TO and HEWB.TO.
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Drawdown Indicators
| XEG.TO | HEWB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.51% | -39.43% | -48.08% |
Max Drawdown (1Y)Largest decline over 1 year | -14.97% | -8.97% | -6.00% |
Max Drawdown (3Y)Largest decline over 3 years | -25.67% | -14.84% | -10.83% |
Max Drawdown (5Y)Largest decline over 5 years | -28.42% | -25.89% | -2.53% |
Max Drawdown (10Y)Largest decline over 10 years | -79.66% | — | — |
Current DrawdownCurrent decline from peak | -13.23% | 0.00% | -13.23% |
Average DrawdownAverage peak-to-trough decline | -34.56% | -7.21% | -27.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.11% | 1.96% | +2.15% |
Volatility
XEG.TO vs. HEWB.TO - Volatility Comparison
iShares S&P/TSX Capped Energy Index ETF (XEG.TO) has a higher volatility of 8.45% compared to Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB.TO) at 4.10%. This indicates that XEG.TO's price experiences larger fluctuations and is considered to be riskier than HEWB.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.TO | HEWB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.45% | 4.10% | +4.35% |
Volatility (6M)Calculated over the trailing 6-month period | 19.59% | 11.39% | +8.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.43% | 13.01% | +10.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.65% | 14.03% | +14.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.40% | 19.26% | +14.14% |
XEG.TO vs. HEWB.TO - Expense Ratio Comparison
XEG.TO has a 0.60% expense ratio, which is higher than HEWB.TO's 0.28% expense ratio.
Dividends
XEG.TO vs. HEWB.TO - Dividend Comparison
XEG.TO's dividend yield for the trailing twelve months is around 2.93%, while HEWB.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HEWB.TO Global X Equal Weight Canadian Banks Index Corporate Class ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XEG.TO iShares S&P/TSX Capped Energy Index ETF | 2.93% | 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 HEWB.TO have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HEWB.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HEWB.TO is cheaper with a 0.28% expense ratio, compared with 0.60% for XEG.TO.
XEG.TO is categorized as Energy Equities, while HEWB.TO is Canada Equities. XEG.TO tracks S&P/TSX Capped Energy Index, while HEWB.TO tracks Solactive Equal Weight Canada Banks Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.60% for XEG.TO and 0.28% for HEWB.TO.
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