XUT.TO vs. HXE.TO
XUT.TO (iShares S&P/TSX Capped Utilities Index ETF) and HXE.TO (Global X S&P/TSX Capped Energy Index Corporate Class ETF) are both exchange-traded funds - XUT.TO is a Utilities Equities fund tracking the S&P/TSX Capped Utilities 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, XUT.TO returned 8.74%/yr vs 11.12%/yr for HXE.TO. At a 0.12 correlation, their price movements are largely independent. XUT.TO charges 0.61%/yr vs 0.27%/yr for HXE.TO.
Performance
XUT.TO vs. HXE.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XUT.TO achieves a 18.04% return, which is significantly lower than HXE.TO's 35.84% return. Over the past 10 years, XUT.TO has underperformed HXE.TO with an annualized return of 8.74%, while HXE.TO has yielded a comparatively higher 11.12% annualized return.
XUT.TO
- 1D
- 0.24%
- 1M
- 1.47%
- 6M
- 17.78%
- YTD
- 18.04%
- 1Y
- 22.73%
- 3Y*
- 13.27%
- 5Y*
- 6.98%
- 10Y*
- 8.74%
HXE.TO
- 1D
- -0.02%
- 1M
- -2.13%
- 6M
- 32.58%
- YTD
- 35.84%
- 1Y
- 53.34%
- 3Y*
- 25.33%
- 5Y*
- 30.06%
- 10Y*
- 11.12%
XUT.TO vs. HXE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XUT.TO iShares S&P/TSX Capped Utilities Index ETF | 18.04% | 14.74% | 13.09% | -0.45% | -11.02% | 8.92% | 14.74% | 36.63% | -8.30% | 10.16% |
HXE.TO Global X S&P/TSX Capped Energy Index Corporate Class ETF | 35.84% | 17.30% | 14.39% | 3.95% | 53.52% | 81.48% | -33.82% | 10.05% | -26.98% | -12.23% |
Correlation
The correlation between XUT.TO and HXE.TO is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2013 | 0.12 |
XUT.TO vs. HXE.TO - Sectors Allocation Comparison
Sectors
XUT.TO
HXE.TO
Utilities
-
Energy
Basic Materials
-
-
Communication Services
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Financial Services
-
-
Healthcare
-
-
Industrials
-
-
Real Estate
-
-
Technology
-
-
Utilities
XUT.TO
HXE.TO
-
Energy
XUT.TO
HXE.TO
Basic Materials
XUT.TO
-
HXE.TO
-
Communication Services
XUT.TO
-
HXE.TO
-
Consumer Cyclical
XUT.TO
-
HXE.TO
-
Consumer Defensive
XUT.TO
-
HXE.TO
-
Financial Services
XUT.TO
-
HXE.TO
-
Healthcare
XUT.TO
-
HXE.TO
-
Industrials
XUT.TO
-
HXE.TO
-
Real Estate
XUT.TO
-
HXE.TO
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Technology
XUT.TO
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HXE.TO
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Return for Risk
XUT.TO vs. HXE.TO — Risk / Return Rank
XUT.TO
HXE.TO
XUT.TO vs. HXE.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Capped Utilities Index ETF (XUT.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.
| XUT.TO | HXE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.36 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.99 | 3.24 | -0.26 |
| Martin ratioReturn relative to average drawdown | 8.46 | 10.01 | -1.56 |
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Drawdowns
XUT.TO vs. HXE.TO - Drawdown Comparison
The maximum XUT.TO drawdown since its inception was -37.65%, smaller than the maximum HXE.TO drawdown of -85.92%. Use the drawdown chart below to compare losses from any high point for XUT.TO and HXE.TO.
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Drawdown Indicators
| XUT.TO | HXE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.65% | -85.92% | +48.27% |
Max Drawdown (1Y)Largest decline over 1 year | -7.64% | -16.52% | +8.88% |
Max Drawdown (3Y)Largest decline over 3 years | -17.51% | -25.34% | +7.83% |
Max Drawdown (5Y)Largest decline over 5 years | -28.54% | -28.83% | +0.29% |
Max Drawdown (10Y)Largest decline over 10 years | -37.65% | -80.40% | +42.75% |
Current DrawdownCurrent decline from peak | -0.56% | -9.51% | +8.95% |
Average DrawdownAverage peak-to-trough decline | -5.78% | -30.63% | +24.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.70% | 5.34% | -2.64% |
Volatility
XUT.TO vs. HXE.TO - Volatility Comparison
The current volatility for iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) is 2.39%, while Global X S&P/TSX Capped Energy Index Corporate Class ETF (HXE.TO) has a volatility of 8.63%. This indicates that XUT.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.
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Volatility by Period
| XUT.TO | HXE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.39% | 8.63% | -6.24% |
Volatility (6M)Calculated over the trailing 6-month period | 6.84% | 20.49% | -13.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.93% | 24.54% | -15.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.80% | 29.35% | -16.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.16% | 33.80% | -17.64% |
XUT.TO vs. HXE.TO - Expense Ratio Comparison
XUT.TO has a 0.61% expense ratio, which is higher than HXE.TO's 0.27% expense ratio.
Dividends
XUT.TO vs. HXE.TO - Dividend Comparison
XUT.TO's dividend yield for the trailing twelve months is around 3.14%, 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% |
XUT.TO iShares S&P/TSX Capped Utilities Index ETF | 3.14% | 3.91% | 4.00% | 3.90% | 3.80% | 3.04% | 4.51% | 3.57% | 4.52% | 3.57% | 3.74% | 4.05% |
Frequently Asked Questions
XUT.TO and HXE.TO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HXE.TO is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HXE.TO is cheaper with a 0.27% expense ratio, compared with 0.61% for XUT.TO.
XUT.TO is categorized as Utilities Equities, while HXE.TO is Energy Equities. XUT.TO tracks S&P/TSX Capped Utilities 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: 0.61% for XUT.TO and 0.27% for HXE.TO.
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