XEN.TO vs. SPYX

Last updated Jun 5, 2026

XEN.TO (iShares Jantzi Social Index ETF) and SPYX (State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF) are both exchange-traded funds - XEN.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD, while SPYX is a S&P 500 fund tracking the S&P 500 Fossil Fuel Reserves Free Index. Both are passively managed. Over the past 10 years, XEN.TO returned 12.35%/yr vs 16.51%/yr for SPYX. At a 0.48 correlation, their price movements are largely independent. XEN.TO charges 0.55%/yr vs 0.20%/yr for SPYX.

Performance

XEN.TO vs. SPYX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Jantzi Social Index ETF (XEN.TO) and State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XEN.TO is traded in CAD, while SPYX is traded in USD. To make them comparable, the SPYX values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XEN.TO achieves a 10.45% return, which is significantly lower than SPYX's 12.04% return. Over the past 10 years, XEN.TO has underperformed SPYX with an annualized return of 12.35%, while SPYX has yielded a comparatively higher 16.51% annualized return.

XEN.TO

• 1D: 0.70%
• 1M: 4.07%
• YTD: 10.45%
• 6M: 10.76%
• 1Y: 35.69%
• 3Y*: 23.12%
• 5Y*: 15.45%
• 10Y*: 12.35%

SPYX

• 1D: 0.54%
• 1M: 6.94%
• YTD: 12.04%
• 6M: 10.15%
• 1Y: 29.74%
• 3Y*: 23.95%
• 5Y*: 16.78%
• 10Y*: 16.51%

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

XEN.TO vs. SPYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XEN.TO iShares Jantzi Social Index ETF	10.45%	34.17%	16.91%	12.18%	-3.37%	28.00%	-0.30%	17.34%	-7.93%	10.65%
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	12.04%	12.47%	36.23%	23.59%	-13.86%	26.90%	17.85%	25.15%	3.86%	15.40%

Correlation

The correlation between XEN.TO and SPYX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.49
Correlation (All Time) Calculated using the full available price history since Dec 2, 2015	0.48

The correlation between XEN.TO and SPYX shifts across timeframes, from 0.47 (5 years) to 0.58 (1 year), reflecting how their relationship changes across market environments.

XEN.TO vs. SPYX - Sectors Allocation Comparison

Sectors	XEN.TO	SPYX
Financial Services	34.8%	11.7%
Energy	18.6%	1.2%
Basic Materials	18.3%	1.8%
Industrials	10.0%	7.6%
Technology	8.1%	38.5%
Consumer Cyclical	3.3%	10.1%
Consumer Defensive	3.1%	4.9%
Utilities	2.6%	2.7%
Communication Services	0.8%	11.1%
Real Estate	0.4%	1.9%
Healthcare	-	8.6%

Return for Risk

XEN.TO vs. SPYX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XEN.TO

XEN.TO Risk / Return Rank: 86
XEN.TO Sharpe Ratio Rank: 88
XEN.TO Sortino Ratio Rank: 87
XEN.TO Omega Ratio Rank: 88
XEN.TO Calmar Ratio Rank: 81
XEN.TO Martin Ratio Rank: 88

SPYX

SPYX Risk / Return Rank: 68
SPYX Sharpe Ratio Rank: 71
SPYX Sortino Ratio Rank: 70
SPYX Omega Ratio Rank: 70
SPYX Calmar Ratio Rank: 58
SPYX Martin Ratio Rank: 70

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.

XEN.TO vs. SPYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Jantzi Social Index ETF (XEN.TO) and State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX). 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.

	XEN.TO	SPYX	Difference
Sharpe ratio: Return per unit of total volatility	2.91	2.51	+0.40
Sortino ratio: Return per unit of downside risk	3.87	3.39	+0.48
Omega ratio: Gain probability vs. loss probability	1.54	1.47	+0.06
Calmar ratio: Return relative to maximum drawdown	4.19	3.11	+1.08
Martin ratio: Return relative to average drawdown	18.92	11.84	+7.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XEN.TO vs. SPYX - Sharpe Ratio Comparison

The current XEN.TO Sharpe Ratio is 2.91, which is comparable to the SPYX Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of XEN.TO and SPYX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XEN.TO	SPYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.91	2.51	+0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.12	1.11	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	1.01	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.95	-0.51

Drawdowns

XEN.TO vs. SPYX - Drawdown Comparison

The maximum XEN.TO drawdown since its inception was -49.69%, which is greater than SPYX's maximum drawdown of -26.37%. Use the drawdown chart below to compare losses from any high point for XEN.TO and SPYX.

Drawdown Indicators

	XEN.TO	SPYX	Difference
Max Drawdown Largest peak-to-trough decline	-49.69%	-26.37%	-23.32%
Max Drawdown (1Y) Largest decline over 1 year	-8.55%	-9.60%	+1.05%
Max Drawdown (3Y) Largest decline over 3 years	-13.31%	-19.03%	+5.72%
Max Drawdown (5Y) Largest decline over 5 years	-17.79%	-23.44%	+5.65%
Max Drawdown (10Y) Largest decline over 10 years	-36.24%	-26.37%	-9.87%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.65%	-4.16%	-3.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.89%	2.52%	-0.63%

Volatility

XEN.TO vs. SPYX - Volatility Comparison

The current volatility for iShares Jantzi Social Index ETF (XEN.TO) is 2.53%, while State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) has a volatility of 2.78%. This indicates that XEN.TO experiences smaller price fluctuations and is considered to be less risky than SPYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XEN.TO	SPYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	2.78%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	9.88%	9.08%	+0.80%
Volatility (1Y) Calculated over the trailing 1-year period	12.31%	11.89%	+0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.91%	15.21%	-1.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.07%	16.33%	-1.26%

XEN.TO vs. SPYX - Expense Ratio Comparison

XEN.TO has a 0.55% expense ratio, which is higher than SPYX's 0.20% expense ratio.

Dividends

XEN.TO vs. SPYX - Dividend Comparison

XEN.TO's dividend yield for the trailing twelve months is around 1.67%, more than SPYX's 0.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	0.84%	0.91%	1.05%	1.21%	1.41%	1.04%	1.33%	1.56%	1.92%	1.68%	1.91%	0.16%
XEN.TO iShares Jantzi Social Index ETF	1.67%	1.83%	2.29%	2.46%	2.60%	1.73%	3.72%	2.13%	2.31%	1.75%	2.07%	2.57%

Frequently Asked Questions

Can I hold both XEN.TO and SPYX in my portfolio?

XEN.TO and SPYX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XEN.TO or SPYX?

On fees, SPYX is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XEN.TO or SPYX?

SPYX is cheaper with a 0.20% expense ratio, compared with 0.55% for XEN.TO.

What is the main difference between XEN.TO and SPYX?

XEN.TO is categorized as Canada Equities, while SPYX is S&P 500. XEN.TO tracks Morningstar Canada GR CAD, while SPYX tracks S&P 500 Fossil Fuel Reserves Free Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.55% for XEN.TO and 0.20% for SPYX.