XMA.TO vs. PPLN.TO
XMA.TO (iShares S&P/TSX Capped Materials Index ETF) and PPLN.TO (Global X Equal Weight Canadian Pipelines Index ETF) are both exchange-traded funds - XMA.TO is a Materials fund tracking the S&P/TSX Capped Materials TR, while PPLN.TO is a Energy Equities fund tracking the Mirae Asset Equal Weight Canadian Pipeline Index. Both are passively managed. Over the past 10 years, XMA.TO returned 12.49%/yr vs 11.40%/yr for PPLN.TO. At a 0.19 correlation, their price movements are largely independent. XMA.TO charges 0.60%/yr vs 0.31%/yr for PPLN.TO.
Performance
XMA.TO vs. PPLN.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XMA.TO achieves a -2.94% return, which is significantly lower than PPLN.TO's 32.42% return. Over the past 10 years, XMA.TO has outperformed PPLN.TO with an annualized return of 12.49%, while PPLN.TO has yielded a comparatively lower 11.40% annualized return.
XMA.TO
- 1D
- 1.20%
- 1M
- -10.62%
- YTD
- -2.94%
- 6M
- -5.88%
- 1Y
- 49.78%
- 3Y*
- 32.58%
- 5Y*
- 19.28%
- 10Y*
- 12.49%
PPLN.TO
- 1D
- 1.34%
- 1M
- 1.83%
- YTD
- 32.42%
- 6M
- 32.75%
- 1Y
- 46.48%
- 3Y*
- 21.00%
- 5Y*
- 14.53%
- 10Y*
- 11.40%
XMA.TO vs. PPLN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XMA.TO iShares S&P/TSX Capped Materials Index ETF | -2.94% | 99.21% | 20.72% | -2.04% | 1.35% | 3.32% | 19.73% | 24.64% | -10.44% | 7.12% |
PPLN.TO Global X Equal Weight Canadian Pipelines Index ETF | 32.42% | 4.14% | 17.18% | 8.45% | 16.63% | 33.83% | -17.80% | 20.50% | -11.54% | -2.67% |
Correlation
The correlation between XMA.TO and PPLN.TO is -0.01, 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 | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jul 15, 2014 | 0.19 |
The correlation between XMA.TO and PPLN.TO shifts across timeframes, from -0.01 (1 year) to 0.28 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XMA.TO vs. PPLN.TO — Risk / Return Rank
XMA.TO
PPLN.TO
XMA.TO vs. PPLN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Capped Materials Index ETF (XMA.TO) and Global X Equal Weight Canadian Pipelines Index ETF (PPLN.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.
| XMA.TO | PPLN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.90 | ||
| Sortino ratioReturn per unit of downside risk | -2.75 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.54 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 4.57 | -2.81 |
| Martin ratioReturn relative to average drawdown | 4.45 | 12.11 | -7.67 |
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Drawdowns
XMA.TO vs. PPLN.TO - Drawdown Comparison
The maximum XMA.TO drawdown since its inception was -64.42%, which is greater than PPLN.TO's maximum drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for XMA.TO and PPLN.TO.
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Drawdown Indicators
| XMA.TO | PPLN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.42% | -59.05% | -5.37% |
Max Drawdown (1Y)Largest decline over 1 year | -28.51% | -10.22% | -18.29% |
Max Drawdown (3Y)Largest decline over 3 years | -28.51% | -15.31% | -13.20% |
Max Drawdown (5Y)Largest decline over 5 years | -33.06% | -18.54% | -14.52% |
Max Drawdown (10Y)Largest decline over 10 years | -33.06% | -59.05% | +25.99% |
Current DrawdownCurrent decline from peak | -26.71% | -0.38% | -26.33% |
Average DrawdownAverage peak-to-trough decline | -27.11% | -9.43% | -17.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.23% | 3.85% | +7.38% |
Volatility
XMA.TO vs. PPLN.TO - Volatility Comparison
iShares S&P/TSX Capped Materials Index ETF (XMA.TO) has a higher volatility of 15.41% compared to Global X Equal Weight Canadian Pipelines Index ETF (PPLN.TO) at 5.21%. This indicates that XMA.TO's price experiences larger fluctuations and is considered to be riskier than PPLN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XMA.TO | PPLN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.41% | 5.21% | +10.20% |
Volatility (6M)Calculated over the trailing 6-month period | 33.55% | 11.53% | +22.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.57% | 14.76% | +24.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.20% | 17.44% | +10.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.89% | 23.20% | +3.69% |
XMA.TO vs. PPLN.TO - Expense Ratio Comparison
XMA.TO has a 0.60% expense ratio, which is higher than PPLN.TO's 0.31% expense ratio.
Dividends
XMA.TO vs. PPLN.TO - Dividend Comparison
XMA.TO's dividend yield for the trailing twelve months is around 0.48%, less than PPLN.TO's 4.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PPLN.TO Global X Equal Weight Canadian Pipelines Index ETF | 4.15% | 4.35% | 2.94% | 3.77% | 3.23% | 3.47% | 5.76% | 4.40% | 5.21% | 4.31% | 3.99% | 4.41% |
XMA.TO iShares S&P/TSX Capped Materials Index ETF | 0.48% | 0.41% | 0.83% | 1.26% | 1.24% | 0.87% | 0.63% | 0.64% | 0.75% | 0.47% | 0.82% | 1.87% |
Frequently Asked Questions
XMA.TO and PPLN.TO have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PPLN.TO is cheaper at 0.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PPLN.TO is cheaper with a 0.31% expense ratio, compared with 0.60% for XMA.TO.
XMA.TO is categorized as Materials, while PPLN.TO is Energy Equities. XMA.TO tracks S&P/TSX Capped Materials TR, while PPLN.TO tracks Mirae Asset Equal Weight Canadian Pipeline Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.60% for XMA.TO and 0.31% for PPLN.TO.
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