XEG.TO vs. HXE.TO

Last updated Apr 1, 2026

Compare and contrast key facts about iShares S&P/TSX Capped Energy Index ETF (XEG.TO) and Global X S&P/TSX Capped Energy Index Corporate Class ETF (HXE.TO).

XEG.TO and HXE.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XEG.TO is a passively managed fund by iShares that tracks the performance of the S&P/TSX Capped Energy Index. It was launched on Mar 19, 2001. HXE.TO is a passively managed fund by Global X that tracks the performance of the S&P/TSX Capped Energy Index (Total Return). It was launched on Sep 16, 2013. Both XEG.TO and HXE.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XEG.TO vs. HXE.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 Global X S&P/TSX Capped Energy Index Corporate Class ETF (HXE.TO). The values are adjusted to include any dividend payments, if applicable.

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XEG.TO iShares S&P/TSX Capped Energy Index ETF	41.93%	16.72%	14.08%	3.52%	53.25%	83.71%	-34.41%	8.98%	-27.05%	-11.18%
HXE.TO Global X S&P/TSX Capped Energy Index Corporate Class ETF	41.53%	17.30%	14.39%	3.95%	53.52%	81.48%	-33.82%	10.05%	-26.98%	-12.23%

Returns By Period

The year-to-date returns for both stocks are quite close, with XEG.TO having a 41.93% return and HXE.TO slightly lower at 41.53%. Both investments have delivered pretty close results over the past 10 years, with XEG.TO having a 13.00% annualized return and HXE.TO not far ahead at 13.21%.

XEG.TO

• 1D: -0.62%
• 1M: 15.54%
• YTD: 41.93%
• 6M: 49.98%
• 1Y: 59.58%
• 3Y*: 26.94%
• 5Y*: 32.83%
• 10Y*: 13.00%

HXE.TO

• 1D: -0.76%
• 1M: 15.83%
• YTD: 41.53%
• 6M: 49.74%
• 1Y: 59.53%
• 3Y*: 27.25%
• 5Y*: 33.29%
• 10Y*: 13.21%

*Multi-year figures are annualized to reflect compound growth (CAGR)

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

XEG.TO has a 0.61% expense ratio, which is higher than HXE.TO's 0.27% expense ratio.

XEG.TO

iShares S&P/TSX Capped Energy Index ETF

HXE.TO

Global X S&P/TSX Capped Energy Index Corporate Class ETF

Return for Risk

XEG.TO vs. HXE.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: 92
XEG.TO Sharpe Ratio Rank: 95
XEG.TO Sortino Ratio Rank: 93
XEG.TO Omega Ratio Rank: 93
XEG.TO Calmar Ratio Rank: 91
XEG.TO Martin Ratio Rank: 89

HXE.TO

HXE.TO Risk / Return Rank: 91
HXE.TO Sharpe Ratio Rank: 93
HXE.TO Sortino Ratio Rank: 92
HXE.TO Omega Ratio Rank: 93
HXE.TO Calmar Ratio Rank: 90
HXE.TO Martin Ratio Rank: 88

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. HXE.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 S&P/TSX Capped Energy Index Corporate Class ETF (HXE.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.

	XEG.TO	HXE.TO	Difference
Sharpe ratio Return per unit of total volatility	2.31	2.22	+0.09
Sortino ratio Return per unit of downside risk	2.76	2.69	+0.07
Omega ratio Gain probability vs. loss probability	1.42	1.42	0.00
Calmar ratio Return relative to maximum drawdown	2.98	3.03	-0.05
Martin ratio Return relative to average drawdown	10.68	10.74	-0.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current XEG.TO Sharpe Ratio is 2.31, which is comparable to the HXE.TO Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of XEG.TO and HXE.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XEG.TO	HXE.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.31	2.22	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.16	1.15	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.39	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.22	+0.06

Correlation

The correlation between XEG.TO and HXE.TO is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XEG.TO vs. HXE.TO - Dividend Comparison

XEG.TO's dividend yield for the trailing twelve months is around 2.70%, while HXE.TO has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XEG.TO iShares S&P/TSX Capped Energy Index ETF	2.70%	3.63%	3.46%	4.26%	3.31%	1.64%	2.96%	2.70%	2.25%	1.41%	1.40%	3.58%
HXE.TO Global X S&P/TSX Capped Energy 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%

Drawdowns

XEG.TO vs. HXE.TO - Drawdown Comparison

The maximum XEG.TO drawdown since its inception was -87.74%, roughly equal to the maximum HXE.TO drawdown of -85.92%. Use the drawdown chart below to compare losses from any high point for XEG.TO and HXE.TO.

Drawdown Indicators

	XEG.TO	HXE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-87.74%	-85.92%	-1.82%
Max Drawdown (1Y) Largest decline over 1 year	-20.69%	-20.40%	-0.29%
Max Drawdown (5Y) Largest decline over 5 years	-28.42%	-28.83%	+0.41%
Max Drawdown (10Y) Largest decline over 10 years	-79.66%	-80.40%	+0.74%
Current Drawdown Current decline from peak	-1.13%	-1.02%	-0.11%
Average Drawdown Average peak-to-trough decline	-29.36%	-31.18%	+1.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.78%	5.76%	+0.02%

Volatility

XEG.TO vs. HXE.TO - Volatility Comparison

The current volatility for iShares S&P/TSX Capped Energy Index ETF (XEG.TO) is 5.36%, while Global X S&P/TSX Capped Energy Index Corporate Class ETF (HXE.TO) has a volatility of 6.15%. This indicates that XEG.TO experiences smaller price fluctuations and is considered to be less risky than HXE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XEG.TO	HXE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.36%	6.15%	-0.79%
Volatility (6M) Calculated over the trailing 6-month period	14.71%	14.56%	+0.15%
Volatility (1Y) Calculated over the trailing 1-year period	25.99%	27.03%	-1.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.48%	29.04%	-0.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.30%	33.64%	-0.34%