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

XFN.TO vs. TRP.TO

Last updated Jun 14, 2026

XFN.TO (iShares S&P/TSX Capped Financials Index ETF) is Financials Equities fund tracking the Morningstar Gbl Fin Svc GR CAD, while TRP.TO (TC Energy Corporation) is a stock. Over the past 10 years, XFN.TO returned 15.21%/yr vs 11.53%/yr for TRP.TO. At a 0.40 correlation, their price movements are largely independent.

Performance

XFN.TO vs. TRP.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 TC Energy Corporation (TRP.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 17.97% return, which is significantly lower than TRP.TO's 29.69% return. Over the past 10 years, XFN.TO has outperformed TRP.TO with an annualized return of 15.21%, while TRP.TO has yielded a comparatively lower 11.53% annualized return.

XFN.TO

1D
0.81%
1M
7.31%
YTD
17.97%
6M
19.57%
1Y
49.33%
3Y*
31.45%
5Y*
18.22%
10Y*
15.21%

TRP.TO

1D
0.20%
1M
3.23%
YTD
29.69%
6M
31.68%
1Y
50.78%
3Y*
28.32%
5Y*
14.85%
10Y*
11.53%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
XFN.TO
iShares S&P/TSX Capped Financials Index ETF		17.97%34.40%29.32%13.09%-9.92%35.57%0.99%20.66%-9.76%12.54%
TRP.TO
TC Energy Corporation		29.69%18.35%37.67%2.53%-2.77%20.34%-20.74%48.49%-16.01%5.23%

Correlation

The correlation between XFN.TO and TRP.TO is 0.07, 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

0.07

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

0.27

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

0.33

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

0.36

Correlation (All Time)
Calculated using the full available price history since Jul 12, 2006

0.40

Over the past year, the correlation between XFN.TO and TRP.TO has dropped to 0.07 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.

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iShares S&P/TSX Capped Financials Index ETF

TC Energy Corporation

Often compared with XFN.TO:
XFN.TO vs. VDY.TOXFN.TO vs. CEW.TOXFN.TO vs. FIE.TOXFN.TO vs. XIU.TOXFN.TO vs. VFV.TOXFN.TO vs. RY.TOXFN.TO vs. XUS-U.TO
Often compared with TRP.TO:
TRP.TO vs. ENB.TOTRP.TO vs. CNQ.TOTRP.TO vs. CNR.TOTRP.TO vs. FTS.TOTRP.TO vs. PEY.TOTRP.TO vs. CLS.TOTRP.TO vs. ATD.TO

Return for Risk

XFN.TO vs. TRP.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: 9595
Overall Rank
XFN.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
XFN.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
XFN.TO Omega Ratio Rank: 9696
Omega Ratio Rank
XFN.TO Calmar Ratio Rank: 9494
Calmar Ratio Rank
XFN.TO Martin Ratio Rank: 9595
Martin Ratio Rank
TRP.TO
TRP.TO Risk / Return Rank: 9595
Overall Rank
TRP.TO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
TRP.TO Sortino Ratio Rank: 9696
Sortino Ratio Rank
TRP.TO Omega Ratio Rank: 9393
Omega Ratio Rank
TRP.TO Calmar Ratio Rank: 9494
Calmar Ratio Rank
TRP.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. TRP.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 TC Energy Corporation (TRP.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.

XFN.TOTRP.TODifference
Sharpe ratioReturn per unit of total volatility
3.95
2.92

+1.02

Sortino ratioReturn per unit of downside risk
5.49
4.23

+1.25

Omega ratioGain probability vs. loss probability

1.70

1.48

+0.22

Calmar ratioReturn relative to maximum drawdown

6.20

5.65

+0.55

Martin ratioReturn relative to average drawdown

25.03

16.62

+8.41

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

The current XFN.TO Sharpe Ratio is 3.95, which is higher than the TRP.TO Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of XFN.TO and TRP.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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Drawdowns

XFN.TO vs. TRP.TO - Drawdown Comparison

The maximum XFN.TO drawdown since its inception was -55.53%, which is greater than TRP.TO's maximum drawdown of -36.30%. Use the drawdown chart below to compare losses from any high point for XFN.TO and TRP.TO.

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Drawdown Indicators

XFN.TOTRP.TODifference

Max Drawdown

Largest peak-to-trough decline

-55.53%

-36.30%

-19.23%

Max Drawdown (1Y)

Largest decline over 1 year

-7.80%

-8.75%

+0.95%

Max Drawdown (3Y)

Largest decline over 3 years

-12.37%

-15.48%

+3.11%

Max Drawdown (5Y)

Largest decline over 5 years

-21.90%

-34.02%

+12.12%

Max Drawdown (10Y)

Largest decline over 10 years

-39.93%

-36.30%

-3.63%

Current Drawdown

Current decline from peak

0.00%

-0.88%

+0.88%

Average Drawdown

Average peak-to-trough decline

-6.95%

-8.45%

+1.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.93%

3.08%

-1.15%

Volatility

XFN.TO vs. TRP.TO - Volatility Comparison

The current volatility for iShares S&P/TSX Capped Financials Index ETF (XFN.TO) is 4.08%, while TC Energy Corporation (TRP.TO) has a volatility of 5.44%. This indicates that XFN.TO experiences smaller price fluctuations and is considered to be less risky than TRP.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.TOTRP.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.08%

5.44%

-1.36%

Volatility (6M)

Calculated over the trailing 6-month period

10.20%

12.67%

-2.47%

Volatility (1Y)

Calculated over the trailing 1-year period

12.24%

16.90%

-4.66%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.50%

19.65%

-6.15%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.54%

23.23%

-6.69%

Dividends

XFN.TO vs. TRP.TO - Dividend Comparison

XFN.TO's dividend yield for the trailing twelve months is around 2.07%, less than TRP.TO's 3.53% yield.

PositionTTM20252024202320222021202020192018201720162015
TRP.TO
TC Energy Corporation		3.53%4.50%5.40%6.71%6.67%5.92%6.26%4.34%5.66%4.09%3.73%4.60%
XFN.TO
iShares S&P/TSX Capped Financials Index ETF		2.07%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 TRP.TO have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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