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XEI.TO vs. EBNK.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XEI.TO vs. EBNK.TO

Last updated Jun 9, 2026

XEI.TO (iShares S&P/TSX Composite High Dividend Index ETF) and EBNK.TO (Evolve European Banks Enhanced Yield ETF Hedged CAD) are both exchange-traded funds - XEI.TO is a Canada Equities fund tracking the S&P/TSX Composite High Dividend Index, while EBNK.TO is a Financials Equities fund actively managed by Evolve. XEI.TO is passively managed, while EBNK.TO is actively managed. Over the past 3 years, XEI.TO returned 20.67%/yr vs 33.13%/yr for EBNK.TO. At a 0.32 correlation, their price movements are largely independent. XEI.TO charges 0.22%/yr vs 0.60%/yr for EBNK.TO.

Performance

XEI.TO vs. EBNK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) and Evolve European Banks Enhanced Yield ETF Hedged CAD (EBNK.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, XEI.TO achieves a 22.47% return, which is significantly higher than EBNK.TO's 4.15% return.

XEI.TO

1D
0.05%
1M
3.98%
YTD
22.47%
6M
18.86%
1Y
38.50%
3Y*
20.67%
5Y*
14.49%
10Y*
11.86%

EBNK.TO

1D
-0.82%
1M
0.92%
YTD
4.15%
6M
8.41%
1Y
27.69%
3Y*
33.13%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XEI.TO vs. EBNK.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		22.47%20.86%15.26%6.59%-2.75%
EBNK.TO
Evolve European Banks Enhanced Yield ETF Hedged CAD		4.15%60.13%28.77%20.83%-5.46%

Correlation

The correlation between XEI.TO and EBNK.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.18

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

0.26

Correlation (All Time)
Calculated using the full available price history since Jan 12, 2022

0.32

The correlation between XEI.TO and EBNK.TO shifts across timeframes, from 0.18 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.

XEI.TO vs. EBNK.TO - Sectors Allocation Comparison

Sectors
XEI.TO
EBNK.TO

Energy

32.1%

-

Financial Services

31.4%
100.0%

Utilities

11.2%

-

Communication Services

7.6%

-

Consumer Cyclical

6.2%

-

Real Estate

4.8%

-

Basic Materials

4.6%

-

Technology

0.7%

-

Industrials

0.7%

-

Consumer Defensive

0.5%

-

Healthcare

0.2%

-

Energy

XEI.TO
32.1%
EBNK.TO

-

Financial Services

XEI.TO
31.4%
EBNK.TO
100.0%

Utilities

XEI.TO
11.2%
EBNK.TO

-

Communication Services

XEI.TO
7.6%
EBNK.TO

-

Consumer Cyclical

XEI.TO
6.2%
EBNK.TO

-

Real Estate

XEI.TO
4.8%
EBNK.TO

-

Basic Materials

XEI.TO
4.6%
EBNK.TO

-

Technology

XEI.TO
0.7%
EBNK.TO

-

Industrials

XEI.TO
0.7%
EBNK.TO

-

Consumer Defensive

XEI.TO
0.5%
EBNK.TO

-

Healthcare

XEI.TO
0.2%
EBNK.TO

-

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iShares S&P/TSX Composite High Dividend Index ETF

Evolve European Banks Enhanced Yield ETF Hedged CAD

Often compared with XEI.TO:
XEI.TO vs. VDY.TOXEI.TO vs. XDIV.TOXEI.TO vs. XEQT.TOXEI.TO vs. VFV.TOXEI.TO vs. ZDV.TOXEI.TO vs. CDZ.TOXEI.TO vs. XDV.TO
Often compared with EBNK.TO:
EBNK.TO vs. FCIM.NEOEBNK.TO vs. HBNK.TOEBNK.TO vs. CLML.TOEBNK.TO vs. TTP.TOEBNK.TO vs. VIDY.TOEBNK.TO vs. VCN.TOEBNK.TO vs. ZWE.TO

Return for Risk

XEI.TO vs. EBNK.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XEI.TO
XEI.TO Risk / Return Rank: 9898
Overall Rank
XEI.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
XEI.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
XEI.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XEI.TO Calmar Ratio Rank: 9797
Calmar Ratio Rank
XEI.TO Martin Ratio Rank: 9797
Martin Ratio Rank
EBNK.TO
EBNK.TO Risk / Return Rank: 4040
Overall Rank
EBNK.TO Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
EBNK.TO Sortino Ratio Rank: 3939
Sortino Ratio Rank
EBNK.TO Omega Ratio Rank: 3737
Omega Ratio Rank
EBNK.TO Calmar Ratio Rank: 4141
Calmar Ratio Rank
EBNK.TO Martin Ratio Rank: 4444
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.

XEI.TO vs. EBNK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) and Evolve European Banks Enhanced Yield ETF Hedged CAD (EBNK.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.

XEI.TOEBNK.TODifference
Sharpe ratioReturn per unit of total volatility
4.96
1.28

+3.67

Sortino ratioReturn per unit of downside risk
6.80
1.85

+4.96

Omega ratioGain probability vs. loss probability

2.01

1.22

+0.78

Calmar ratioReturn relative to maximum drawdown

9.17

1.87

+7.30

Martin ratioReturn relative to average drawdown

41.24

6.59

+34.65

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XEI.TO vs. EBNK.TO - Sharpe Ratio Comparison

The current XEI.TO Sharpe Ratio is 4.96, which is higher than the EBNK.TO Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of XEI.TO and EBNK.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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Sharpe Ratios by Period

XEI.TOEBNK.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

4.96

1.28

+3.67

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.29

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.74

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.65

0.84

-0.19

Drawdowns

XEI.TO vs. EBNK.TO - Drawdown Comparison

The maximum XEI.TO drawdown since its inception was -45.52%, which is greater than EBNK.TO's maximum drawdown of -31.02%. Use the drawdown chart below to compare losses from any high point for XEI.TO and EBNK.TO.

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Drawdown Indicators

XEI.TOEBNK.TODifference

Max Drawdown

Largest peak-to-trough decline

-45.52%

-31.02%

-14.50%

Max Drawdown (1Y)

Largest decline over 1 year

-4.22%

-14.87%

+10.65%

Max Drawdown (3Y)

Largest decline over 3 years

-9.96%

-21.16%

+11.20%

Max Drawdown (5Y)

Largest decline over 5 years

-17.35%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-45.52%

—

—

Current Drawdown

Current decline from peak

-0.64%

-3.05%

+2.41%

Average Drawdown

Average peak-to-trough decline

-5.10%

-7.43%

+2.33%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.94%

4.21%

-3.27%

Volatility

XEI.TO vs. EBNK.TO - Volatility Comparison

The current volatility for iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) is 2.75%, while Evolve European Banks Enhanced Yield ETF Hedged CAD (EBNK.TO) has a volatility of 5.36%. This indicates that XEI.TO experiences smaller price fluctuations and is considered to be less risky than EBNK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XEI.TOEBNK.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.75%

5.36%

-2.61%

Volatility (6M)

Calculated over the trailing 6-month period

6.72%

16.91%

-10.19%

Volatility (1Y)

Calculated over the trailing 1-year period

7.82%

21.72%

-13.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.31%

26.88%

-15.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.03%

26.88%

-10.85%

XEI.TO vs. EBNK.TO - Expense Ratio Comparison

XEI.TO has a 0.22% expense ratio, which is lower than EBNK.TO's 0.60% expense ratio.

Dividends

XEI.TO vs. EBNK.TO - Dividend Comparison

XEI.TO's dividend yield for the trailing twelve months is around 3.58%, less than EBNK.TO's 11.11% yield.

PositionTTM20252024202320222021202020192018201720162015
EBNK.TO
Evolve European Banks Enhanced Yield ETF Hedged CAD		11.11%11.05%12.56%7.32%7.52%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		3.58%4.47%5.45%4.97%4.68%3.58%5.03%4.62%5.42%4.29%4.41%5.64%

Frequently Asked Questions

XEI.TO and EBNK.TO have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XEI.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XEI.TO is cheaper with a 0.22% expense ratio, compared with 0.60% for EBNK.TO.

XEI.TO is categorized as Canada Equities, while EBNK.TO is Financials Equities. They also come from different issuers: iShares and Evolve. Their fees differ too: 0.22% for XEI.TO and 0.60% for EBNK.TO.

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