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

XLE vs. XFN.TO

Last updated Jun 14, 2026

XLE (State Street Energy Select Sector SPDR ETF) and XFN.TO (iShares S&P/TSX Capped Financials Index ETF) are both exchange-traded funds - XLE is a Energy Equities fund tracking the Energy Select Sector Index, while XFN.TO is a Financials Equities fund tracking the Morningstar Gbl Fin Svc GR CAD. Both are passively managed. Over the past 10 years, XLE returned 9.91%/yr vs 14.23%/yr for XFN.TO. At a 0.43 correlation, their price movements are largely independent. XLE charges 0.08%/yr vs 0.61%/yr for XFN.TO.

Performance

XLE vs. XFN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Energy Select Sector SPDR ETF (XLE) and iShares S&P/TSX Capped Financials Index ETF (XFN.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XLE is traded in USD, while XFN.TO is traded in CAD. To make them comparable, the XFN.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XLE achieves a 29.56% return, which is significantly higher than XFN.TO's 15.63% return. Over the past 10 years, XLE has underperformed XFN.TO with an annualized return of 9.91%, while XFN.TO has yielded a comparatively higher 14.23% annualized return.

XLE

1D
0.75%
1M
-0.90%
YTD
29.56%
6M
28.37%
1Y
34.84%
3Y*
16.18%
5Y*
20.12%
10Y*
9.91%

XFN.TO

1D
0.62%
1M
5.25%
YTD
15.63%
6M
17.89%
1Y
45.31%
3Y*
29.51%
5Y*
14.86%
10Y*
14.23%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XLE vs. XFN.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XLE
State Street Energy Select Sector SPDR ETF		29.56%7.88%5.56%-0.63%64.32%53.28%-32.67%11.74%-18.22%-0.89%
XFN.TO
iShares S&P/TSX Capped Financials Index ETF		15.63%40.83%19.22%15.85%-15.28%35.64%3.44%25.85%-16.76%20.71%

Correlation

The correlation between XLE and XFN.TO is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

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

-0.10

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

0.16

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

0.29

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

0.43

The correlation between XLE and XFN.TO shifts across timeframes, from -0.10 (1 year) to 0.43 (all time), reflecting how their relationship changes across market environments.

XLE vs. XFN.TO - Sectors Allocation Comparison

Sectors
XLE
XFN.TO

Energy

100.0%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

100.0%

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Energy

XLE
100.0%
XFN.TO

-

Basic Materials

XLE

-

XFN.TO

-

Communication Services

XLE

-

XFN.TO

-

Consumer Cyclical

XLE

-

XFN.TO

-

Consumer Defensive

XLE

-

XFN.TO

-

Financial Services

XLE

-

XFN.TO
100.0%

Healthcare

XLE

-

XFN.TO

-

Industrials

XLE

-

XFN.TO

-

Real Estate

XLE

-

XFN.TO

-

Technology

XLE

-

XFN.TO

-

Utilities

XLE

-

XFN.TO

-

Compare stocks, funds, or ETFs

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State Street Energy Select Sector SPDR ETF

iShares S&P/TSX Capped Financials Index ETF

Often compared with XLE:
XLE vs. VDEXLE vs. USOXLE vs. XOPXLE vs. XLUXLE vs. XLKXLE vs. IXCXLE vs. FENY
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

Return for Risk

XLE vs. XFN.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XLE
XLE Risk / Return Rank: 6161
Overall Rank
XLE Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
XLE Sortino Ratio Rank: 5858
Sortino Ratio Rank
XLE Omega Ratio Rank: 5454
Omega Ratio Rank
XLE Calmar Ratio Rank: 7171
Calmar Ratio Rank
XLE Martin Ratio Rank: 5656
Martin Ratio Rank
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
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.

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

This table presents a comparison of risk-adjusted performance metrics for State Street Energy Select Sector SPDR ETF (XLE) and iShares S&P/TSX Capped Financials Index ETF (XFN.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.

XLEXFN.TODifference
Sharpe ratioReturn per unit of total volatility
1.82
3.52

-1.70

Sortino ratioReturn per unit of downside risk
2.40
4.86

-2.46

Omega ratioGain probability vs. loss probability

1.30

1.61

-0.31

Calmar ratioReturn relative to maximum drawdown

3.10

5.00

-1.90

Martin ratioReturn relative to average drawdown

8.63

19.84

-11.20

XLE vs. XFN.TO - Sharpe Ratio Comparison

The current XLE Sharpe Ratio is 1.82, which is lower than the XFN.TO Sharpe Ratio of 3.52. The chart below compares the historical Sharpe Ratios of XLE and XFN.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

XLE vs. XFN.TO - Drawdown Comparison

The maximum XLE drawdown since its inception was -71.26%, which is greater than XFN.TO's maximum drawdown of -67.57%. Use the drawdown chart below to compare losses from any high point for XLE and XFN.TO.

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Drawdown Indicators

XLEXFN.TODifference

Max Drawdown

Largest peak-to-trough decline

-71.26%

-67.57%

-3.69%

Max Drawdown (1Y)

Largest decline over 1 year

-12.05%

-9.00%

-3.05%

Max Drawdown (3Y)

Largest decline over 3 years

-20.14%

-16.26%

-3.88%

Max Drawdown (5Y)

Largest decline over 5 years

-26.04%

-28.13%

+2.09%

Max Drawdown (10Y)

Largest decline over 10 years

-66.81%

-45.08%

-21.73%

Current Drawdown

Current decline from peak

-8.01%

0.00%

-8.01%

Average Drawdown

Average peak-to-trough decline

-17.97%

-11.15%

-6.82%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.32%

2.27%

+2.05%

Volatility

XLE vs. XFN.TO - Volatility Comparison

State Street Energy Select Sector SPDR ETF (XLE) has a higher volatility of 7.26% compared to iShares S&P/TSX Capped Financials Index ETF (XFN.TO) at 4.02%. This indicates that XLE's price experiences larger fluctuations and is considered to be riskier than XFN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XLEXFN.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

7.26%

4.02%

+3.24%

Volatility (6M)

Calculated over the trailing 6-month period

16.79%

10.56%

+6.23%

Volatility (1Y)

Calculated over the trailing 1-year period

20.57%

12.81%

+7.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

26.05%

15.11%

+10.94%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

29.58%

17.99%

+11.59%

XLE vs. XFN.TO - Expense Ratio Comparison

XLE has a 0.08% expense ratio, which is lower than XFN.TO's 0.61% expense ratio.

Dividends

XLE vs. XFN.TO - Dividend Comparison

XLE's dividend yield for the trailing twelve months is around 2.59%, more than XFN.TO's 2.07% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
XLE
State Street Energy Select Sector SPDR ETF		2.59%3.28%3.36%3.55%3.68%4.21%5.62%6.72%3.54%3.03%2.26%3.39%

Frequently Asked Questions

XLE and XFN.TO have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XLE is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XLE is cheaper with a 0.08% expense ratio, compared with 0.61% for XFN.TO.

XLE is categorized as Energy Equities, while XFN.TO is Financials Equities. XLE tracks Energy Select Sector Index, while XFN.TO tracks Morningstar Gbl Fin Svc GR CAD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.08% for XLE and 0.61% for XFN.TO.

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