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

XFN.TO vs. DIV.TO

Last updated Jun 4, 2026

XFN.TO (iShares S&P/TSX Capped Financials Index ETF) is Financials Equities fund tracking the Morningstar Gbl Fin Svc GR CAD, while DIV.TO (Diversified Royalty Corp.) is a stock. Over the past 10 years, XFN.TO returned 14.38%/yr vs 16.72%/yr for DIV.TO. At a 0.17 correlation, their price movements are largely independent.

Performance

XFN.TO vs. DIV.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 Diversified Royalty Corp. (DIV.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 DIV.TO's 29.82% return. Over the past 10 years, XFN.TO has underperformed DIV.TO with an annualized return of 14.38%, while DIV.TO has yielded a comparatively higher 16.72% annualized 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%

DIV.TO

1D
-1.47%
1M
11.49%
YTD
29.82%
6M
30.29%
1Y
70.83%
3Y*
28.65%
5Y*
22.95%
10Y*
16.72%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
XFN.TO
iShares S&P/TSX Capped Financials Index ETF		12.51%34.40%29.32%13.09%-9.92%35.57%0.99%20.66%-9.76%12.54%
DIV.TO
Diversified Royalty Corp.		29.82%38.92%16.26%-0.40%14.10%28.13%-16.15%19.62%-12.04%46.20%

Correlation

The correlation between XFN.TO and DIV.TO is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.45

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

0.40

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

0.43

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

0.36

Correlation (All Time)
Calculated using the full available price history since Mar 30, 2001

0.17

Over the past year, XFN.TO and DIV.TO have become more correlated (0.45) than their long-term average of 0.17, meaning their price movements have been converging.

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iShares S&P/TSX Capped Financials Index ETF

Diversified Royalty Corp.

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 DIV.TO:
DIV.TO vs. BK.TODIV.TO vs. PZA.TODIV.TO vs. EIF.TODIV.TO vs. ZEB.TODIV.TO vs. MFCDIV.TO vs. 0QMG.LDIV.TO vs. FIE.TO

Return for Risk

XFN.TO vs. DIV.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
DIV.TO
DIV.TO Risk / Return Rank: 9696
Overall Rank
DIV.TO Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
DIV.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
DIV.TO Omega Ratio Rank: 9797
Omega Ratio Rank
DIV.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
DIV.TO Martin Ratio Rank: 9696
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. DIV.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 Diversified Royalty Corp. (DIV.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.TODIV.TODifference
Sharpe ratioReturn per unit of total volatility
3.46
3.40

+0.06

Sortino ratioReturn per unit of downside risk
4.85
5.33

-0.48

Omega ratioGain probability vs. loss probability

1.61

1.67

-0.05

Calmar ratioReturn relative to maximum drawdown

5.35

7.17

-1.82

Martin ratioReturn relative to average drawdown

21.60

23.14

-1.54

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. DIV.TO - Sharpe Ratio Comparison

The current XFN.TO Sharpe Ratio is 3.46, which is comparable to the DIV.TO Sharpe Ratio of 3.40. The chart below compares the historical Sharpe Ratios of XFN.TO and DIV.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.TODIV.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.46

3.40

+0.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.26

1.11

+0.15

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.87

0.60

+0.27

Sharpe Ratio (All Time)

Calculated using the full available price history

0.64

0.10

+0.54

Drawdowns

XFN.TO vs. DIV.TO - Drawdown Comparison

The maximum XFN.TO drawdown since its inception was -56.55%, smaller than the maximum DIV.TO drawdown of -99.64%. Use the drawdown chart below to compare losses from any high point for XFN.TO and DIV.TO.

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Drawdown Indicators

XFN.TODIV.TODifference

Max Drawdown

Largest peak-to-trough decline

-56.55%

-99.64%

+43.09%

Max Drawdown (1Y)

Largest decline over 1 year

-7.80%

-9.92%

+2.12%

Max Drawdown (3Y)

Largest decline over 3 years

-12.37%

-17.80%

+5.43%

Max Drawdown (5Y)

Largest decline over 5 years

-21.90%

-25.32%

+3.42%

Max Drawdown (10Y)

Largest decline over 10 years

-39.93%

-64.32%

+24.39%

Current Drawdown

Current decline from peak

-1.39%

-56.32%

+54.93%

Average Drawdown

Average peak-to-trough decline

-6.60%

-73.54%

+66.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.93%

3.07%

-1.14%

Volatility

XFN.TO vs. DIV.TO - Volatility Comparison

The current volatility for iShares S&P/TSX Capped Financials Index ETF (XFN.TO) is 4.19%, while Diversified Royalty Corp. (DIV.TO) has a volatility of 9.47%. This indicates that XFN.TO experiences smaller price fluctuations and is considered to be less risky than DIV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XFN.TODIV.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.19%

9.47%

-5.28%

Volatility (6M)

Calculated over the trailing 6-month period

10.10%

14.99%

-4.89%

Volatility (1Y)

Calculated over the trailing 1-year period

12.07%

20.95%

-8.88%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.47%

20.79%

-7.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.53%

27.81%

-11.28%

Dividends

XFN.TO vs. DIV.TO - Dividend Comparison

XFN.TO's dividend yield for the trailing twelve months is around 2.17%, less than DIV.TO's 5.96% yield.

PositionTTM20252024202320222021202020192018201720162015
DIV.TO
Diversified Royalty Corp.		5.96%7.12%8.59%8.79%7.45%7.41%8.87%7.26%8.06%6.59%8.87%8.39%
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 DIV.TO have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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