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XFN.TO vs. BKCL.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XFN.TO vs. BKCL.TO

Last updated Jun 4, 2026

XFN.TO (iShares S&P/TSX Capped Financials Index ETF) and BKCL.TO (Global X Enhanced Equal Weight Canadian Banks Covered Call ETF) are both Financials Equities funds. XFN.TO is passively managed, while BKCL.TO is actively managed. Over the past year, XFN.TO returned 41.54% vs 53.29% for BKCL.TO. Their correlation of 0.91 suggests significant overlap in exposure. XFN.TO charges 0.61%/yr vs 1.68%/yr for BKCL.TO.

Performance

XFN.TO vs. BKCL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Capped Financials Index ETF (XFN.TO) and Global X Enhanced Equal Weight Canadian Banks Covered Call ETF (BKCL.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, XFN.TO achieves a 12.51% return, which is significantly lower than BKCL.TO's 17.43% return.

XFN.TO

1D
-0.55%
1M
5.10%
YTD
12.51%
6M
17.66%
1Y
41.54%
3Y*
29.67%
5Y*
16.93%
10Y*
14.38%

BKCL.TO

1D
-0.41%
1M
4.79%
YTD
17.43%
6M
22.33%
1Y
53.29%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XFN.TO vs. BKCL.TO - Yearly Performance Comparison

2026 (YTD)202520242023
XFN.TO
iShares S&P/TSX Capped Financials Index ETF		12.51%34.40%29.32%11.00%
BKCL.TO
Global X Enhanced Equal Weight Canadian Banks Covered Call ETF		17.43%34.78%20.06%5.22%

Correlation

The correlation between XFN.TO and BKCL.TO is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.89

Correlation (All Time)
Calculated using the full available price history since Jul 7, 2023

0.91

The correlation between XFN.TO and BKCL.TO has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

XFN.TO vs. BKCL.TO - Sectors Allocation Comparison

Sectors
XFN.TO
BKCL.TO

Financial Services

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

XFN.TO
100.0%
BKCL.TO
100.0%

Basic Materials

XFN.TO

-

BKCL.TO

-

Communication Services

XFN.TO

-

BKCL.TO

-

Consumer Cyclical

XFN.TO

-

BKCL.TO

-

Consumer Defensive

XFN.TO

-

BKCL.TO

-

Energy

XFN.TO

-

BKCL.TO

-

Healthcare

XFN.TO

-

BKCL.TO

-

Industrials

XFN.TO

-

BKCL.TO

-

Real Estate

XFN.TO

-

BKCL.TO

-

Technology

XFN.TO

-

BKCL.TO

-

Utilities

XFN.TO

-

BKCL.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 Capped Financials Index ETF

Global X Enhanced Equal Weight Canadian Banks Covered Call ETF

Often compared with XFN.TO:
XFN.TO vs. VDY.TOXFN.TO vs. FIE.TOXFN.TO vs. XIU.TOXFN.TO vs. CEW.TOXFN.TO vs. VFV.TOXFN.TO vs. RY.TOXFN.TO vs. XUS-U.TO
Often compared with BKCL.TO:
BKCL.TO vs. BANK.TOBKCL.TO vs. HMAX.TOBKCL.TO vs. HBNK.TOBKCL.TO vs. BNKL.TOBKCL.TO vs. XDIV.TOBKCL.TO vs. VDY.TOBKCL.TO vs. HURA.TO

Return for Risk

XFN.TO vs. BKCL.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XFN.TO
XFN.TO Risk / Return Rank: 9191
Overall Rank
XFN.TO Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
XFN.TO Sortino Ratio Rank: 9494
Sortino Ratio Rank
XFN.TO Omega Ratio Rank: 9191
Omega Ratio Rank
XFN.TO Calmar Ratio Rank: 8989
Calmar Ratio Rank
XFN.TO Martin Ratio Rank: 9090
Martin Ratio Rank
BKCL.TO
BKCL.TO Risk / Return Rank: 9595
Overall Rank
BKCL.TO Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
BKCL.TO Sortino Ratio Rank: 9696
Sortino Ratio Rank
BKCL.TO Omega Ratio Rank: 9696
Omega Ratio Rank
BKCL.TO Calmar Ratio Rank: 9191
Calmar Ratio Rank
BKCL.TO Martin Ratio Rank: 9494
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.

XFN.TO vs. BKCL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Capped Financials Index ETF (XFN.TO) and Global X Enhanced Equal Weight Canadian Banks Covered Call ETF (BKCL.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.

XFN.TOBKCL.TODifference
Sharpe ratioReturn per unit of total volatility
3.46
4.25

-0.80

Sortino ratioReturn per unit of downside risk
4.85
5.84

-0.99

Omega ratioGain probability vs. loss probability

1.61

1.82

-0.21

Calmar ratioReturn relative to maximum drawdown

5.35

5.85

-0.50

Martin ratioReturn relative to average drawdown

21.60

26.81

-5.21

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

XFN.TO vs. BKCL.TO - Sharpe Ratio Comparison

The current XFN.TO Sharpe Ratio is 3.46, which is comparable to the BKCL.TO Sharpe Ratio of 4.25. The chart below compares the historical Sharpe Ratios of XFN.TO and BKCL.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

XFN.TOBKCL.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.46

4.25

-0.80

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.26

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.87

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.64

2.06

-1.42

Drawdowns

XFN.TO vs. BKCL.TO - Drawdown Comparison

The maximum XFN.TO drawdown since its inception was -56.55%, which is greater than BKCL.TO's maximum drawdown of -16.58%. Use the drawdown chart below to compare losses from any high point for XFN.TO and BKCL.TO.

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Drawdown Indicators

XFN.TOBKCL.TODifference

Max Drawdown

Largest peak-to-trough decline

-56.55%

-16.58%

-39.97%

Max Drawdown (1Y)

Largest decline over 1 year

-7.80%

-9.15%

+1.35%

Max Drawdown (3Y)

Largest decline over 3 years

-12.37%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-21.90%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-39.93%

—

—

Current Drawdown

Current decline from peak

-1.39%

-1.81%

+0.42%

Average Drawdown

Average peak-to-trough decline

-6.60%

-2.67%

-3.93%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.93%

1.99%

-0.06%

Volatility

XFN.TO vs. BKCL.TO - Volatility Comparison

iShares S&P/TSX Capped Financials Index ETF (XFN.TO) and Global X Enhanced Equal Weight Canadian Banks Covered Call ETF (BKCL.TO) have volatilities of 4.19% and 4.39%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XFN.TOBKCL.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.19%

4.39%

-0.20%

Volatility (6M)

Calculated over the trailing 6-month period

10.10%

11.34%

-1.24%

Volatility (1Y)

Calculated over the trailing 1-year period

12.07%

12.59%

-0.52%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.47%

13.17%

+0.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.53%

13.17%

+3.36%

XFN.TO vs. BKCL.TO - Expense Ratio Comparison

XFN.TO has a 0.61% expense ratio, which is lower than BKCL.TO's 1.68% expense ratio.

Dividends

XFN.TO vs. BKCL.TO - Dividend Comparison

XFN.TO's dividend yield for the trailing twelve months is around 2.17%, less than BKCL.TO's 11.48% yield.

PositionTTM20252024202320222021202020192018201720162015
BKCL.TO
Global X Enhanced Equal Weight Canadian Banks Covered Call ETF		11.48%12.60%15.02%7.91%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XFN.TO
iShares S&P/TSX Capped Financials Index ETF		2.17%2.39%3.16%3.60%3.48%2.67%3.35%3.00%3.43%2.73%2.83%3.17%

Frequently Asked Questions

XFN.TO and BKCL.TO have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XFN.TO is cheaper at 0.61% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XFN.TO is cheaper with a 0.61% expense ratio, compared with 1.68% for BKCL.TO.

They also come from different issuers: iShares and Global X. Their fees differ too: 0.61% for XFN.TO and 1.68% for BKCL.TO.

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