PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
XEI.TO vs. XUT.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XEI.TO vs. XUT.TO

Last updated Jun 5, 2026

XEI.TO (iShares S&P/TSX Composite High Dividend Index ETF) and XUT.TO (iShares S&P/TSX Capped Utilities Index ETF) are both exchange-traded funds - XEI.TO is a Canada Equities fund tracking the S&P/TSX Composite High Dividend Index, while XUT.TO is a Utilities Equities fund tracking the Morningstar Gbl GR CAD. Both are passively managed. Over the past 10 years, XEI.TO returned 12.30%/yr vs 9.46%/yr for XUT.TO. A 0.53 correlation means they provide meaningful diversification when combined. XEI.TO charges 0.22%/yr vs 0.61%/yr for XUT.TO.

Performance

XEI.TO vs. XUT.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 iShares S&P/TSX Capped Utilities Index ETF (XUT.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, XEI.TO achieves a 23.25% return, which is significantly higher than XUT.TO's 15.38% return. Over the past 10 years, XEI.TO has outperformed XUT.TO with an annualized return of 12.30%, while XUT.TO has yielded a comparatively lower 9.46% annualized return.

XEI.TO

1D
0.85%
1M
3.41%
YTD
23.25%
6M
23.82%
1Y
45.53%
3Y*
22.82%
5Y*
15.75%
10Y*
12.30%

XUT.TO

1D
0.41%
1M
2.76%
YTD
15.38%
6M
14.55%
1Y
25.53%
3Y*
12.55%
5Y*
8.06%
10Y*
9.46%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		23.25%25.96%15.42%6.69%0.41%35.88%-7.53%25.44%-10.85%7.24%
XUT.TO
iShares S&P/TSX Capped Utilities Index ETF		15.38%18.91%13.09%-0.45%-11.02%10.80%14.74%36.63%-8.30%10.16%

Correlation

The correlation between XEI.TO and XUT.TO is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.37

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

0.64

Correlation (5Y)
Calculated over the trailing 5-year period

0.55

Correlation (10Y)
Calculated over the trailing 10-year period

0.51

Correlation (All Time)
Calculated using the full available price history since Apr 19, 2011

0.53

The correlation between XEI.TO and XUT.TO shifts across timeframes, from 0.37 (1 year) to 0.64 (3 years), reflecting how their relationship changes across market environments.

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

Sectors
XEI.TO
XUT.TO

Energy

32.1%
9.3%

Financial Services

31.4%

-

Utilities

11.2%
90.7%

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%
XUT.TO
9.3%

Financial Services

XEI.TO
31.4%
XUT.TO

-

Utilities

XEI.TO
11.2%
XUT.TO
90.7%

Communication Services

XEI.TO
7.6%
XUT.TO

-

Consumer Cyclical

XEI.TO
6.2%
XUT.TO

-

Real Estate

XEI.TO
4.8%
XUT.TO

-

Basic Materials

XEI.TO
4.6%
XUT.TO

-

Technology

XEI.TO
0.7%
XUT.TO

-

Industrials

XEI.TO
0.7%
XUT.TO

-

Consumer Defensive

XEI.TO
0.5%
XUT.TO

-

Healthcare

XEI.TO
0.2%
XUT.TO

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares S&P/TSX Composite High Dividend Index ETF

iShares S&P/TSX Capped Utilities Index ETF

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 XUT.TO:
XUT.TO vs. ZUT.TOXUT.TO vs. XIU.TOXUT.TO vs. ZLB.TOXUT.TO vs. XLUXUT.TO vs. UTES.TOXUT.TO vs. VPUXUT.TO vs. VDY.TO

Return for Risk

XEI.TO vs. XUT.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: 9999
Sortino Ratio Rank
XEI.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XEI.TO Calmar Ratio Rank: 9999
Calmar Ratio Rank
XEI.TO Martin Ratio Rank: 9898
Martin Ratio Rank
XUT.TO
XUT.TO Risk / Return Rank: 8787
Overall Rank
XUT.TO Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
XUT.TO Sortino Ratio Rank: 9393
Sortino Ratio Rank
XUT.TO Omega Ratio Rank: 9292
Omega Ratio Rank
XUT.TO Calmar Ratio Rank: 8888
Calmar Ratio Rank
XUT.TO Martin Ratio Rank: 7272
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. XUT.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 iShares S&P/TSX Capped Utilities Index ETF (XUT.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.TOXUT.TODifference
Sharpe ratioReturn per unit of total volatility
6.34
3.24

+3.11

Sortino ratioReturn per unit of downside risk
9.47
4.55

+4.93

Omega ratioGain probability vs. loss probability

2.34

1.63

+0.72

Calmar ratioReturn relative to maximum drawdown

20.39

5.12

+15.27

Martin ratioReturn relative to average drawdown

69.23

13.35

+55.88

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. XUT.TO - Sharpe Ratio Comparison

The current XEI.TO Sharpe Ratio is 6.34, which is higher than the XUT.TO Sharpe Ratio of 3.24. The chart below compares the historical Sharpe Ratios of XEI.TO and XUT.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.

Loading charts...

Sharpe Ratios by Period

XEI.TOXUT.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

6.34

3.24

+3.11

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.41

0.64

+0.77

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.77

0.59

+0.18

Sharpe Ratio (All Time)

Calculated using the full available price history

0.67

0.54

+0.13

Drawdowns

XEI.TO vs. XUT.TO - Drawdown Comparison

The maximum XEI.TO drawdown since its inception was -45.51%, which is greater than XUT.TO's maximum drawdown of -37.65%. Use the drawdown chart below to compare losses from any high point for XEI.TO and XUT.TO.

Loading charts...

Drawdown Indicators

XEI.TOXUT.TODifference

Max Drawdown

Largest peak-to-trough decline

-45.51%

-37.65%

-7.86%

Max Drawdown (1Y)

Largest decline over 1 year

-2.24%

-5.00%

+2.76%

Max Drawdown (3Y)

Largest decline over 3 years

-9.92%

-19.41%

+9.49%

Max Drawdown (5Y)

Largest decline over 5 years

-17.32%

-28.54%

+11.22%

Max Drawdown (10Y)

Largest decline over 10 years

-45.51%

-37.65%

-7.86%

Current Drawdown

Current decline from peak

0.00%

-0.79%

+0.79%

Average Drawdown

Average peak-to-trough decline

-5.05%

-5.70%

+0.65%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.66%

1.92%

-1.26%

Volatility

XEI.TO vs. XUT.TO - Volatility Comparison

iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) has a higher volatility of 2.89% compared to iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) at 2.41%. This indicates that XEI.TO's price experiences larger fluctuations and is considered to be riskier than XUT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

XEI.TOXUT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.89%

2.41%

+0.48%

Volatility (6M)

Calculated over the trailing 6-month period

6.03%

6.65%

-0.62%

Volatility (1Y)

Calculated over the trailing 1-year period

7.24%

7.99%

-0.75%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.24%

12.65%

-1.41%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.01%

16.09%

-0.08%

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

XEI.TO has a 0.22% expense ratio, which is lower than XUT.TO's 0.61% expense ratio.

Dividends

XEI.TO vs. XUT.TO - Dividend Comparison

XEI.TO's dividend yield for the trailing twelve months is around 3.53%, more than XUT.TO's 3.22% yield.

PositionTTM20252024202320222021202020192018201720162015
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		3.53%4.39%5.56%5.08%4.78%3.65%5.13%4.71%5.53%4.37%4.51%5.75%
XUT.TO
iShares S&P/TSX Capped Utilities Index ETF		3.22%3.79%4.00%3.90%3.80%2.99%4.51%3.57%4.52%3.57%3.74%4.05%

Frequently Asked Questions

XEI.TO and XUT.TO have a correlation of 0.37, 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 0.61% for XUT.TO.

XEI.TO is categorized as Canada Equities, while XUT.TO is Utilities Equities. XEI.TO tracks S&P/TSX Composite High Dividend Index, while XUT.TO tracks Morningstar Gbl GR CAD. Their fees differ too: 0.22% for XEI.TO and 0.61% for XUT.TO.

Portfolio Optimizer

Find the right allocation for XEI.TO and XUT.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer