XESG.TO vs. XEG.TO

Last updated Jul 25, 2026

XESG.TO (iShares ESG Aware MSCI Canada Index ETF) and XEG.TO (iShares S&P/TSX Capped Energy Index ETF) are both exchange-traded funds - XESG.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD, while XEG.TO is a Energy Equities fund tracking the S&P/TSX Capped Energy Index. Both are passively managed. Over the past 5 years, XESG.TO returned 12.78%/yr vs 32.16%/yr for XEG.TO. At a 0.44 correlation, their price movements are largely independent. XESG.TO charges 0.16%/yr vs 0.60%/yr for XEG.TO.

Performance

XESG.TO vs. XEG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares ESG Aware MSCI Canada Index ETF (XESG.TO) and iShares S&P/TSX Capped Energy Index ETF (XEG.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XESG.TO achieves a 12.54% return, which is significantly lower than XEG.TO's 44.98% return.

XESG.TO

• 1D: 0.51%
• 1M: 2.11%
• 6M: 7.81%
• YTD: 12.54%
• 1Y: 27.02%
• 3Y*: 20.42%
• 5Y*: 12.78%
• 10Y*: —
• ALL TIME*: 12.86%

XEG.TO

• 1D: -0.83%
• 1M: 14.91%
• 6M: 34.10%
• YTD: 44.98%
• 1Y: 62.68%
• 3Y*: 25.57%
• 5Y*: 32.16%
• 10Y*: 11.93%
• ALL TIME*: 4.59%

*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)
XEG.TO iShares S&P/TSX Capped Energy Index ETF	CA$55.41M	CA$49.18M	CA$55.92M
XESG.TO iShares ESG Aware MSCI Canada Index ETF	CA$124.11K	CA$192.49K	CA$202.20K

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XESG.TO iShares ESG Aware MSCI Canada Index ETF	12.54%	26.34%	20.23%	10.30%	-7.64%	23.09%	1.14%	12.07%
XEG.TO iShares S&P/TSX Capped Energy Index ETF	44.98%	16.72%	14.04%	3.55%	53.25%	83.71%	-34.44%	-7.47%

Correlation

The correlation between XESG.TO and XEG.TO is 0.02, 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	0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (All Time) Calculated using the full available price history since Mar 22, 2019	0.44

Over the past year, the correlation between XESG.TO and XEG.TO has dropped to 0.02 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.

XESG.TO vs. XEG.TO - Sectors Allocation Comparison

Sectors	XESG.TO	XEG.TO
Financial Services	40.3%	-
Energy	18.1%	100.0%
Basic Materials	16.7%	-
Industrials	8.5%	-
Technology	8.2%	-
Utilities	3.0%	-
Consumer Cyclical	2.8%	-
Consumer Defensive	1.3%	-
Real Estate	0.6%	-
Communication Services	0.1%	-
Healthcare	0.0%	-

Return for Risk

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

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

XESG.TO

XESG.TO Risk / Return Rank: 82
XESG.TO Sharpe Ratio Rank: 85
XESG.TO Sortino Ratio Rank: 78
XESG.TO Omega Ratio Rank: 83
XESG.TO Calmar Ratio Rank: 79
XESG.TO Martin Ratio Rank: 87

XEG.TO

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

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.

XESG.TO vs. XEG.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Aware MSCI Canada Index ETF (XESG.TO) and iShares S&P/TSX Capped Energy Index ETF (XEG.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.

	XESG.TO	XEG.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.98	2.61	-0.63
Sortino ratio: Return per unit of downside risk	2.54	3.13	-0.59
Omega ratio: Gain probability vs. loss probability	1.36	1.41	-0.06
Calmar ratio: Return relative to maximum drawdown	2.92	3.82	-0.90
Martin ratio: Return relative to average drawdown	12.69	11.57	+1.13

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

The current XESG.TO Sharpe Ratio is 1.98, which is comparable to the XEG.TO Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of XESG.TO and XEG.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

XESG.TO vs. XEG.TO - Drawdown Comparison

The maximum XESG.TO drawdown since its inception was -39.40%, smaller than the maximum XEG.TO drawdown of -87.51%. Use the drawdown chart below to compare losses from any high point for XESG.TO and XEG.TO.

Drawdown Indicators

	XESG.TO	XEG.TO	Difference
Max Drawdown Largest peak-to-trough decline	-39.40%	-87.51%	+48.11%
Max Drawdown (1Y) Largest decline over 1 year	-9.28%	-16.47%	+7.19%
Max Drawdown (3Y) Largest decline over 3 years	-14.14%	-25.67%	+11.53%
Max Drawdown (5Y) Largest decline over 5 years	-17.82%	-28.42%	+10.60%
Max Drawdown (10Y) Largest decline over 10 years	—	-79.66%	—
Current Drawdown Current decline from peak	-0.26%	-3.58%	+3.32%
Average Drawdown Average peak-to-trough decline	-5.01%	-34.51%	+29.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	5.44%	-3.31%

Volatility

XESG.TO vs. XEG.TO - Volatility Comparison

The current volatility for iShares ESG Aware MSCI Canada Index ETF (XESG.TO) is 2.49%, while iShares S&P/TSX Capped Energy Index ETF (XEG.TO) has a volatility of 6.80%. This indicates that XESG.TO experiences smaller price fluctuations and is considered to be less risky than XEG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XESG.TO	XEG.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.49%	6.80%	-4.31%
Volatility (6M) Calculated over the trailing 6-month period	10.77%	19.71%	-8.94%
Volatility (1Y) Calculated over the trailing 1-year period	13.71%	24.10%	-10.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.88%	28.59%	-14.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.83%	33.40%	-11.57%

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

XESG.TO has a 0.16% expense ratio, which is lower than XEG.TO's 0.60% expense ratio.

Dividends

XESG.TO vs. XEG.TO - Dividend Comparison

XESG.TO's dividend yield for the trailing twelve months is around 1.91%, less than XEG.TO's 2.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XEG.TO iShares S&P/TSX Capped Energy Index ETF	2.54%	3.63%	3.46%	4.26%	3.31%	1.64%	2.96%	2.70%	2.25%	1.41%	1.40%	3.58%
XESG.TO iShares ESG Aware MSCI Canada Index ETF	1.91%	2.17%	2.57%	2.89%	2.77%	2.01%	2.30%	1.08%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

XESG.TO and XEG.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, XESG.TO or XEG.TO?

On fees, XESG.TO is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

XESG.TO is cheaper with a 0.16% expense ratio, compared with 0.60% for XEG.TO.

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

XESG.TO is categorized as Canada Equities, while XEG.TO is Energy Equities. XESG.TO tracks Morningstar Canada GR CAD, while XEG.TO tracks S&P/TSX Capped Energy Index. Their fees differ too: 0.16% for XESG.TO and 0.60% for XEG.TO.