XEG.TO vs. XCLN.TO

Last updated Aug 2, 2026

XEG.TO (iShares S&P/TSX Capped Energy Index ETF) and XCLN.TO (iShares Global Clean Energy Index ETF) are both exchange-traded funds - XEG.TO is a Energy Equities fund tracking the S&P/TSX Capped Energy Index, while XCLN.TO is a Alternative Energy Equities fund tracking the S&P Global Clean Energy Index. Both are passively managed. Over the past 3 years, XEG.TO returned 24.75%/yr vs 1.54%/yr for XCLN.TO. Their 0.09 correlation means their historical movements had little consistent relationship. XEG.TO charges 0.60%/yr vs 0.35%/yr for XCLN.TO.

Performance

XEG.TO vs. XCLN.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 iShares Global Clean Energy Index ETF (XCLN.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XEG.TO achieves a 46.30% return, which is significantly higher than XCLN.TO's 11.04% return.

XEG.TO

• 1D: 0.69%
• 1M: 15.08%
• 6M: 31.52%
• YTD: 46.30%
• 1Y: 65.86%
• 3Y*: 24.75%
• 5Y*: 32.72%
• 10Y*: 12.29%
• ALL TIME*: 4.78%

XCLN.TO

• 1D: 0.00%
• 1M: -12.13%
• 6M: 0.56%
• YTD: 11.04%
• 1Y: 30.88%
• 3Y*: 1.54%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 0.56%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
XCLN.TO iShares Global Clean Energy Index ETF	CA$42.67K	CA$74.09K	CA$111.51K
XEG.TO iShares S&P/TSX Capped Energy Index ETF	CA$58.70M	CA$53.16M	CA$56.38M

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

	2026 (YTD)	2025	2024	2023	2022
XEG.TO iShares S&P/TSX Capped Energy Index ETF	46.30%	16.72%	14.04%	3.55%	-0.19%
XCLN.TO iShares Global Clean Energy Index ETF	11.04%	35.62%	-19.86%	-21.98%	8.76%

Correlation

The correlation between XEG.TO and XCLN.TO is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.02
Correlation (3Y) Balances recent behavior with more history.	0.04
Correlation (All Time) Calculated using the full available price history since May 4, 2022	0.09

The correlation between XEG.TO and XCLN.TO shifts across timeframes, from -0.02 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.

Return for Risk

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

Compare historical risk-adjusted metric ranks over the past 12 months.

XEG.TO

XEG.TO Risk / Return Rank: 89
XEG.TO Sharpe Ratio Rank: 94
XEG.TO Sortino Ratio Rank: 89
XEG.TO Omega Ratio Rank: 89
XEG.TO Calmar Ratio Rank: 90
XEG.TO Martin Ratio Rank: 84

XCLN.TO

XCLN.TO Risk / Return Rank: 38
XCLN.TO Sharpe Ratio Rank: 40
XCLN.TO Sortino Ratio Rank: 39
XCLN.TO Omega Ratio Rank: 38
XCLN.TO Calmar Ratio Rank: 34
XCLN.TO Martin Ratio Rank: 38

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. XCLN.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 iShares Global Clean Energy Index ETF (XCLN.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	XCLN.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.58	1.00	+1.58
Sortino ratio: Return per unit of downside risk	3.09	1.46	+1.63
Omega ratio: Gain probability vs. loss probability	1.41	1.18	+0.23
Calmar ratio: Return relative to maximum drawdown	3.82	1.18	+2.64
Martin ratio: Return relative to average drawdown	11.60	4.05	+7.56

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

The current XEG.TO Sharpe Ratio is 2.58, which is higher than the XCLN.TO Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of XEG.TO and XCLN.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.

Drawdowns

XEG.TO vs. XCLN.TO - Drawdown Comparison

The maximum XEG.TO drawdown since its inception was -87.51%, which is greater than XCLN.TO's maximum drawdown of -49.29%. Use the drawdown chart below to compare losses from any high point for XEG.TO and XCLN.TO.

Drawdown Indicators

	XEG.TO	XCLN.TO	Difference
Max Drawdown Largest peak-to-trough decline	-87.51%	-49.29%	-38.22%
Max Drawdown (1Y) Largest decline over 1 year	-16.47%	-26.42%	+9.95%
Max Drawdown (3Y) Largest decline over 3 years	-25.67%	-33.68%	+8.01%
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%	-23.15%	+20.45%
Average Drawdown Average peak-to-trough decline	-34.46%	-25.25%	-9.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.44%	7.66%	-2.22%

Volatility

XEG.TO vs. XCLN.TO - Volatility Comparison

The current volatility for iShares S&P/TSX Capped Energy Index ETF (XEG.TO) is 8.21%, while iShares Global Clean Energy Index ETF (XCLN.TO) has a volatility of 10.16%. This indicates that XEG.TO experiences smaller price fluctuations and is considered to be less risky than XCLN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XEG.TO	XCLN.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.21%	10.16%	-1.95%
Volatility (6M) Calculated over the trailing 6-month period	20.17%	24.93%	-4.76%
Volatility (1Y) Calculated over the trailing 1-year period	24.45%	31.22%	-6.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.62%	26.36%	+2.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.42%	26.36%	+7.06%

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

XEG.TO has a 0.60% expense ratio, which is higher than XCLN.TO's 0.35% expense ratio.

Dividends

XEG.TO vs. XCLN.TO - Dividend Comparison

XEG.TO's dividend yield for the trailing twelve months is around 2.52%, more than XCLN.TO's 0.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XCLN.TO iShares Global Clean Energy Index ETF	0.93%	1.51%	1.24%	1.15%	0.39%	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

Can I hold both XEG.TO and XCLN.TO in my portfolio?

XEG.TO and XCLN.TO have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XEG.TO or XCLN.TO?

On fees, XCLN.TO is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XEG.TO or XCLN.TO?

XCLN.TO is cheaper with a 0.35% expense ratio, compared with 0.60% for XEG.TO.

What is the main difference between XEG.TO and XCLN.TO?

XEG.TO is categorized as Energy Equities, while XCLN.TO is Alternative Energy Equities. XEG.TO tracks S&P/TSX Capped Energy Index, while XCLN.TO tracks S&P Global Clean Energy Index. Their fees differ too: 0.60% for XEG.TO and 0.35% for XCLN.TO.