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XLU vs. XBM.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLU vs. XBM.TO

Last updated Jun 14, 2026

XLU (State Street Utilities Select Sector SPDR ETF) and XBM.TO (iShares S&P/TSX Global Base Metals Index ETF) are both exchange-traded funds - XLU is a Utilities Equities fund tracking the Utilities Select Sector Index, while XBM.TO is a Energy Equities fund tracking the Morningstar Can Natural Resource NR CAD. Both are passively managed. Over the past 10 years, XLU returned 9.20%/yr vs 18.63%/yr for XBM.TO. At a 0.14 correlation, their price movements are largely independent. XLU charges 0.08%/yr vs 0.60%/yr for XBM.TO.

Performance

XLU vs. XBM.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Utilities Select Sector SPDR ETF (XLU) and iShares S&P/TSX Global Base Metals Index ETF (XBM.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, XLU achieves a 5.04% return, which is significantly lower than XBM.TO's 28.49% return. Over the past 10 years, XLU has underperformed XBM.TO with an annualized return of 9.20%, while XBM.TO has yielded a comparatively higher 18.63% annualized return.

XLU

1D
1.09%
1M
-0.82%
YTD
5.04%
6M
5.48%
1Y
12.50%
3Y*
13.79%
5Y*
9.41%
10Y*
9.20%

XBM.TO

1D
2.55%
1M
-1.15%
YTD
28.49%
6M
36.69%
1Y
99.27%
3Y*
24.72%
5Y*
14.48%
10Y*
18.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XLU vs. XBM.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XLU
State Street Utilities Select Sector SPDR ETF		5.04%16.03%23.31%-7.18%1.44%17.70%0.51%25.93%3.94%12.05%
XBM.TO
iShares S&P/TSX Global Base Metals Index ETF		28.49%57.90%-2.31%5.35%-2.55%28.01%34.73%14.67%-28.44%42.10%

Correlation

The correlation between XLU and XBM.TO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.20

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

0.22

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

0.20

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

0.12

Correlation (All Time)
Calculated using the full available price history since Apr 19, 2011

0.14

XLU vs. XBM.TO - Sectors Allocation Comparison

Sectors
XLU
XBM.TO

Utilities

100.0%

-

Basic Materials

-

99.8%

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

0.2%

Real Estate

-

-

Technology

-

-

Utilities

XLU
100.0%
XBM.TO

-

Basic Materials

XLU

-

XBM.TO
99.8%

Communication Services

XLU

-

XBM.TO

-

Consumer Cyclical

XLU

-

XBM.TO

-

Consumer Defensive

XLU

-

XBM.TO

-

Energy

XLU

-

XBM.TO

-

Financial Services

XLU

-

XBM.TO

-

Healthcare

XLU

-

XBM.TO

-

Industrials

XLU

-

XBM.TO
0.2%

Real Estate

XLU

-

XBM.TO

-

Technology

XLU

-

XBM.TO

-

Compare stocks, funds, or ETFs

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State Street Utilities Select Sector SPDR ETF

iShares S&P/TSX Global Base Metals Index ETF

Often compared with XLU:
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Often compared with XBM.TO:
XBM.TO vs. XMEXBM.TO vs. ZMT.TOXBM.TO vs. XEG.TOXBM.TO vs. XETM.TOXBM.TO vs. GDXXBM.TO vs. XMA.TOXBM.TO vs. VDE

Return for Risk

XLU vs. XBM.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XLU
XLU Risk / Return Rank: 2626
Overall Rank
XLU Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
XLU Sortino Ratio Rank: 2424
Sortino Ratio Rank
XLU Omega Ratio Rank: 2424
Omega Ratio Rank
XLU Calmar Ratio Rank: 3030
Calmar Ratio Rank
XLU Martin Ratio Rank: 2424
Martin Ratio Rank
XBM.TO
XBM.TO Risk / Return Rank: 8585
Overall Rank
XBM.TO Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
XBM.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
XBM.TO Omega Ratio Rank: 8181
Omega Ratio Rank
XBM.TO Calmar Ratio Rank: 8787
Calmar Ratio Rank
XBM.TO Martin Ratio Rank: 8787
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.

XLU vs. XBM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Utilities Select Sector SPDR ETF (XLU) and iShares S&P/TSX Global Base Metals Index ETF (XBM.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.

XLUXBM.TODifference
Sharpe ratioReturn per unit of total volatility
0.81
2.61

-1.80

Sortino ratioReturn per unit of downside risk
1.18
2.95

-1.77

Omega ratioGain probability vs. loss probability

1.15

1.40

-0.25

Calmar ratioReturn relative to maximum drawdown

1.30

4.11

-2.81

Martin ratioReturn relative to average drawdown

2.80

14.92

-12.12

XLU vs. XBM.TO - Sharpe Ratio Comparison

The current XLU Sharpe Ratio is 0.81, which is lower than the XBM.TO Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of XLU and XBM.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

XLU vs. XBM.TO - Drawdown Comparison

The maximum XLU drawdown since its inception was -51.98%, smaller than the maximum XBM.TO drawdown of -78.69%. Use the drawdown chart below to compare losses from any high point for XLU and XBM.TO.

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Drawdown Indicators

XLUXBM.TODifference

Max Drawdown

Largest peak-to-trough decline

-51.98%

-78.69%

+26.71%

Max Drawdown (1Y)

Largest decline over 1 year

-9.18%

-24.22%

+15.04%

Max Drawdown (3Y)

Largest decline over 3 years

-17.26%

-40.16%

+22.90%

Max Drawdown (5Y)

Largest decline over 5 years

-25.26%

-42.87%

+17.61%

Max Drawdown (10Y)

Largest decline over 10 years

-36.07%

-63.09%

+27.02%

Current Drawdown

Current decline from peak

-6.05%

-9.21%

+3.16%

Average Drawdown

Average peak-to-trough decline

-10.22%

-36.01%

+25.79%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.25%

6.65%

-2.40%

Volatility

XLU vs. XBM.TO - Volatility Comparison

The current volatility for State Street Utilities Select Sector SPDR ETF (XLU) is 5.59%, while iShares S&P/TSX Global Base Metals Index ETF (XBM.TO) has a volatility of 17.01%. This indicates that XLU experiences smaller price fluctuations and is considered to be less risky than XBM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XLUXBM.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.59%

17.01%

-11.42%

Volatility (6M)

Calculated over the trailing 6-month period

11.68%

32.24%

-20.56%

Volatility (1Y)

Calculated over the trailing 1-year period

14.66%

38.07%

-23.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.34%

34.29%

-16.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.27%

33.66%

-14.39%

XLU vs. XBM.TO - Expense Ratio Comparison

XLU has a 0.08% expense ratio, which is lower than XBM.TO's 0.60% expense ratio.

Dividends

XLU vs. XBM.TO - Dividend Comparison

XLU's dividend yield for the trailing twelve months is around 2.67%, more than XBM.TO's 0.65% yield.

PositionTTM20252024202320222021202020192018201720162015
XBM.TO
iShares S&P/TSX Global Base Metals Index ETF		0.65%0.86%1.25%2.09%4.78%3.05%1.81%3.73%3.38%1.65%2.41%5.75%
XLU
State Street Utilities Select Sector SPDR ETF		2.67%2.71%2.96%3.39%2.92%2.79%3.14%2.95%3.33%3.33%3.41%3.67%

Frequently Asked Questions

XLU and XBM.TO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

XLU is cheaper with a 0.08% expense ratio, compared with 0.60% for XBM.TO.

XLU is categorized as Utilities Equities, while XBM.TO is Energy Equities. XLU tracks Utilities Select Sector Index, while XBM.TO tracks Morningstar Can Natural Resource NR CAD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.08% for XLU and 0.60% for XBM.TO.

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