XIC.TO vs. HXE.TO

Last updated Aug 4, 2026

XIC.TO (iShares Core S&P/TSX Capped Composite Index ETF) and HXE.TO (Global X S&P/TSX Capped Energy Index Corporate Class ETF) are both exchange-traded funds - XIC.TO is a Canada Equities fund tracking the S&P/TSX Capped Composite Index, while HXE.TO is a Energy Equities fund tracking the S&P/TSX Capped Energy Index (Total Return). Both are passively managed. Over the past 10 years, XIC.TO returned 12.41%/yr vs 12.31%/yr for HXE.TO. Their 0.41 correlation means their historical movements had little consistent relationship. XIC.TO charges 0.06%/yr vs 0.27%/yr for HXE.TO.

Performance

XIC.TO vs. HXE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) and Global X S&P/TSX Capped Energy Index Corporate Class ETF (HXE.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XIC.TO achieves a 12.55% return, which is significantly lower than HXE.TO's 46.03% return. Both investments have delivered pretty close results over the past 10 years, with XIC.TO having a 12.41% annualized return and HXE.TO not far behind at 12.31%.

XIC.TO

• 1D: -0.76%
• 1M: 0.04%
• 6M: 10.65%
• YTD: 12.55%
• 1Y: 33.33%
• 3Y*: 23.01%
• 5Y*: 14.56%
• 10Y*: 12.41%
• ALL TIME*: 9.28%

HXE.TO

• 1D: 1.47%
• 1M: 14.90%
• 6M: 33.24%
• YTD: 46.03%
• 1Y: 66.82%
• 3Y*: 25.08%
• 5Y*: 33.12%
• 10Y*: 12.31%
• ALL TIME*: 7.13%

*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)
HXE.TO Global X S&P/TSX Capped Energy Index Corporate Class ETF	CA$127.64K	CA$109.88K	CA$163.06K
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF	CA$23.72M	CA$28.51M	CA$27.00M

XIC.TO vs. HXE.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF	12.55%	31.51%	21.48%	11.74%	-5.82%	23.43%	5.61%	22.76%	-8.72%	8.99%
HXE.TO Global X S&P/TSX Capped Energy Index Corporate Class ETF	46.03%	17.30%	14.39%	3.95%	53.52%	81.48%	-33.82%	10.05%	-26.98%	-12.23%

Correlation

The correlation between XIC.TO and HXE.TO is -0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.05
Correlation (3Y) Balances recent behavior with more history.	0.26
Correlation (5Y) Shows whether the relationship held over a longer period.	0.40
Correlation (10Y) Provides a long-term view across more market conditions.	0.44
Correlation (All Time) Calculated using the full available price history since Oct 17, 2013	0.41

The correlation between XIC.TO and HXE.TO shifts across timeframes, from -0.05 (1 year) to 0.44 (10 years), reflecting how their relationship changes across market environments.

XIC.TO vs. HXE.TO - Sectors Allocation Comparison

Sectors	XIC.TO	HXE.TO
Financial Services	36.2%	-
Energy	16.6%	100.0%
Basic Materials	16.0%	-
Industrials	10.5%	-
Technology	7.2%	-
Consumer Cyclical	3.9%	-
Utilities	3.3%	-
Consumer Defensive	2.9%	-
Communication Services	1.6%	-
Real Estate	1.5%	-
Healthcare	0.2%	-

Return for Risk

XIC.TO vs. HXE.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XIC.TO

XIC.TO Risk / Return Rank: 90
XIC.TO Sharpe Ratio Rank: 92
XIC.TO Sortino Ratio Rank: 89
XIC.TO Omega Ratio Rank: 90
XIC.TO Calmar Ratio Rank: 87
XIC.TO Martin Ratio Rank: 91

HXE.TO

HXE.TO Risk / Return Rank: 87
HXE.TO Sharpe Ratio Rank: 92
HXE.TO Sortino Ratio Rank: 87
HXE.TO Omega Ratio Rank: 87
HXE.TO Calmar Ratio Rank: 88
HXE.TO Martin Ratio Rank: 81

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XIC.TO vs. HXE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) and Global X S&P/TSX Capped Energy Index Corporate Class ETF (HXE.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.

	XIC.TO	HXE.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.42	2.44	-0.03
Sortino ratio: Return per unit of downside risk	3.13	2.98	+0.14
Omega ratio: Gain probability vs. loss probability	1.42	1.40	+0.02
Calmar ratio: Return relative to maximum drawdown	3.47	3.70	-0.23
Martin ratio: Return relative to average drawdown	15.70	11.16	+4.53

XIC.TO vs. HXE.TO - Sharpe Ratio Comparison

The current XIC.TO Sharpe Ratio is 2.42, which is comparable to the HXE.TO Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of XIC.TO and HXE.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

XIC.TO vs. HXE.TO - Drawdown Comparison

The maximum XIC.TO drawdown since its inception was -47.27%, smaller than the maximum HXE.TO drawdown of -85.92%. Use the drawdown chart below to compare losses from any high point for XIC.TO and HXE.TO.

Drawdown Indicators

	XIC.TO	HXE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-47.27%	-85.92%	+38.65%
Max Drawdown (1Y) Largest decline over 1 year	-9.29%	-16.52%	+7.23%
Max Drawdown (3Y) Largest decline over 3 years	-12.27%	-25.34%	+13.07%
Max Drawdown (5Y) Largest decline over 5 years	-16.24%	-28.83%	+12.59%
Max Drawdown (10Y) Largest decline over 10 years	-37.21%	-80.40%	+43.19%
Current Drawdown Current decline from peak	-1.56%	-2.71%	+1.15%
Average Drawdown Average peak-to-trough decline	-6.72%	-30.54%	+23.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	5.53%	-3.48%

Volatility

XIC.TO vs. HXE.TO - Volatility Comparison

The current volatility for iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) is 3.10%, while Global X S&P/TSX Capped Energy Index Corporate Class ETF (HXE.TO) has a volatility of 7.78%. This indicates that XIC.TO experiences smaller price fluctuations and is considered to be less risky than HXE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XIC.TO	HXE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.10%	7.78%	-4.68%
Volatility (6M) Calculated over the trailing 6-month period	10.35%	20.81%	-10.46%
Volatility (1Y) Calculated over the trailing 1-year period	13.34%	25.05%	-11.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.23%	29.24%	-16.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.96%	33.81%	-18.85%

XIC.TO vs. HXE.TO - Expense Ratio Comparison

XIC.TO has a 0.06% expense ratio, which is lower than HXE.TO's 0.27% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XIC.TO vs. HXE.TO - Dividend Comparison

XIC.TO's dividend yield for the trailing twelve months is around 2.00%, while HXE.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HXE.TO Global X S&P/TSX Capped Energy Index Corporate Class ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF	2.00%	2.23%	2.64%	2.96%	3.10%	2.45%	3.03%	3.01%	3.19%	2.49%	2.72%	3.21%

Frequently Asked Questions

Can I hold both XIC.TO and HXE.TO in my portfolio?

XIC.TO and HXE.TO have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XIC.TO or HXE.TO?

On fees, XIC.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XIC.TO or HXE.TO?

XIC.TO is cheaper with a 0.06% expense ratio, compared with 0.27% for HXE.TO.

What is the main difference between XIC.TO and HXE.TO?

XIC.TO is categorized as Canada Equities, while HXE.TO is Energy Equities. XIC.TO tracks S&P/TSX Capped Composite Index, while HXE.TO tracks S&P/TSX Capped Energy Index (Total Return). They also come from different issuers: iShares and Global X. Their fees differ too: 0.06% for XIC.TO and 0.27% for HXE.TO.