XEG.TO vs. XGD.TO
XEG.TO (iShares S&P/TSX Capped Energy Index ETF) and XGD.TO (iShares S&P/TSX Global Gold Index ETF) are both exchange-traded funds - XEG.TO is a Energy Equities fund tracking the S&P/TSX Capped Energy Index, while XGD.TO is a Gold fund tracking the S&P/TSX Global Gold Index. Both are passively managed. Over the past 10 years, XEG.TO returned 11.69%/yr vs 14.21%/yr for XGD.TO. At a 0.22 correlation, their price movements are largely independent. XEG.TO charges 0.60%/yr vs 0.61%/yr for XGD.TO.
Performance
XEG.TO vs. XGD.TO - Performance Comparison
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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 XGD.TO's -2.21% return. Over the past 10 years, XEG.TO has underperformed XGD.TO with an annualized return of 11.69%, while XGD.TO has yielded a comparatively higher 14.21% 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%
XGD.TO
- 1D
- 2.99%
- 1M
- -13.12%
- YTD
- -2.21%
- 6M
- -1.55%
- 1Y
- 56.40%
- 3Y*
- 41.86%
- 5Y*
- 21.08%
- 10Y*
- 14.21%
XEG.TO vs. XGD.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 | 38.53% | 16.72% | 14.04% | 3.55% | 53.25% | 83.71% | -34.44% | 9.04% | -27.05% | -11.17% |
XGD.TO iShares S&P/TSX Global Gold Index ETF | -2.21% | 144.45% | 19.63% | 3.91% | -3.13% | -5.81% | 21.10% | 40.18% | -4.10% | 0.96% |
Correlation
The correlation between XEG.TO and XGD.TO is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.22 |
The correlation between XEG.TO and XGD.TO shifts across timeframes, from -0.06 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XEG.TO vs. XGD.TO — Risk / Return Rank
XEG.TO
XGD.TO
XEG.TO vs. XGD.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 S&P/TSX Global Gold Index ETF (XGD.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 | XGD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.06 | ||
| Sortino ratioReturn per unit of downside risk | +1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.25 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 5.04 | 1.81 | +3.24 |
| Martin ratioReturn relative to average drawdown | 14.38 | 5.00 | +9.38 |
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Drawdowns
XEG.TO vs. XGD.TO - Drawdown Comparison
The maximum XEG.TO drawdown since its inception was -87.51%, which is greater than XGD.TO's maximum drawdown of -72.56%. Use the drawdown chart below to compare losses from any high point for XEG.TO and XGD.TO.
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Drawdown Indicators
| XEG.TO | XGD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.51% | -72.56% | -14.95% |
Max Drawdown (1Y)Largest decline over 1 year | -11.12% | -33.06% | +21.94% |
Max Drawdown (3Y)Largest decline over 3 years | -25.67% | -33.06% | +7.39% |
Max Drawdown (5Y)Largest decline over 5 years | -28.42% | -40.82% | +12.40% |
Max Drawdown (10Y)Largest decline over 10 years | -79.66% | -46.96% | -32.70% |
Current DrawdownCurrent decline from peak | -7.87% | -27.60% | +19.73% |
Average DrawdownAverage peak-to-trough decline | -34.55% | -31.89% | -2.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.89% | 11.91% | -8.02% |
Volatility
XEG.TO vs. XGD.TO - Volatility Comparison
The current volatility for iShares S&P/TSX Capped Energy Index ETF (XEG.TO) is 9.11%, while iShares S&P/TSX Global Gold Index ETF (XGD.TO) has a volatility of 16.16%. This indicates that XEG.TO experiences smaller price fluctuations and is considered to be less risky than XGD.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 | XGD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.11% | 16.16% | -7.05% |
Volatility (6M)Calculated over the trailing 6-month period | 19.65% | 36.04% | -16.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.30% | 44.26% | -20.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.72% | 32.95% | -4.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.40% | 33.55% | -0.15% |
XEG.TO vs. XGD.TO - Expense Ratio Comparison
XEG.TO has a 0.60% expense ratio, which is lower than XGD.TO's 0.61% expense ratio.
Dividends
XEG.TO vs. XGD.TO - Dividend Comparison
XEG.TO's dividend yield for the trailing twelve months is around 2.76%, more than XGD.TO's 0.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XGD.TO iShares S&P/TSX Global Gold Index ETF | 0.64% | 0.62% | 0.93% | 1.49% | 1.77% | 1.38% | 0.35% | 0.54% | 0.25% | 0.14% | 0.10% | 0.57% |
Frequently Asked Questions
XEG.TO and XGD.TO have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEG.TO is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEG.TO is cheaper with a 0.60% expense ratio, compared with 0.61% for XGD.TO.
XEG.TO is categorized as Energy Equities, while XGD.TO is Gold. XEG.TO tracks S&P/TSX Capped Energy Index, while XGD.TO tracks S&P/TSX Global Gold Index. Their fees differ too: 0.60% for XEG.TO and 0.61% for XGD.TO.
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