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XUT.TO vs. VEE.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XUT.TO vs. VEE.TO

Last updated Aug 5, 2026
Documentation

XUT.TO (iShares S&P/TSX Capped Utilities Index ETF) and VEE.TO (Vanguard FTSE Emerging Markets All Cap Index ETF) are both exchange-traded funds - XUT.TO is a Utilities Equities fund tracking the S&P/TSX Capped Utilities Index, while VEE.TO is a Emerging Markets Equities fund tracking the FTSE Emerging Markets All Cap China A Inclusion Index. Both are passively managed. Over the past 10 years, XUT.TO returned 8.49%/yr vs 8.00%/yr for VEE.TO. Their 0.26 correlation means their historical movements had little consistent relationship. XUT.TO charges 0.61%/yr vs 0.25%/yr for VEE.TO.

Performance

XUT.TO vs. VEE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) and Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XUT.TO achieves a 17.46% return, which is significantly higher than VEE.TO's 14.60% return. Over the past 10 years, XUT.TO has outperformed VEE.TO with an annualized return of 8.49%, while VEE.TO has yielded a comparatively lower 8.00% annualized return.

XUT.TO

1D
-0.75%
1M
-0.08%
6M
13.95%
YTD
17.46%
1Y
20.07%
3Y*
15.18%
5Y*
6.39%
10Y*
8.49%
ALL TIME*
7.97%

VEE.TO

1D
2.73%
1M
-1.61%
6M
9.36%
YTD
14.60%
1Y
26.33%
3Y*
17.57%
5Y*
8.23%
10Y*
8.00%
ALL TIME*
7.52%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

VEE.TO

Vanguard FTSE Emerging Markets All Cap Index ETF
CA$2.11MCA$2.98MCA$3.67M

XUT.TO

iShares S&P/TSX Capped Utilities Index ETF
CA$10.74MCA$10.10MCA$10.64M

XUT.TO vs. VEE.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XUT.TO
iShares S&P/TSX Capped Utilities Index ETF		17.46%14.74%13.09%-0.45%-11.02%8.92%14.74%36.63%-8.30%10.16%
VEE.TO
Vanguard FTSE Emerging Markets All Cap Index ETF		14.60%19.32%19.06%6.24%-12.79%0.06%12.32%14.32%-7.93%22.60%

Correlation

The correlation between XUT.TO and VEE.TO is -0.00, 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.

-0.00

Correlation (3Y)
Balances recent behavior with more history.

0.21

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.16

Correlation (10Y)
Provides a long-term view across more market conditions.

0.19

Correlation (All Time)
Calculated using the full available price history since Dec 6, 2011

0.26

The correlation between XUT.TO and VEE.TO shifts across timeframes, from -0.00 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.

XUT.TO vs. VEE.TO - Sectors Allocation Comparison

Sectors
XUT.TO
VEE.TO

Utilities

90.9%
2.2%

Energy

9.1%
3.4%

Basic Materials

-

7.2%

Communication Services

-

6.5%

Consumer Cyclical

-

8.2%

Consumer Defensive

-

3.2%

Financial Services

-

18.0%

Healthcare

-

3.7%

Industrials

-

7.5%

Real Estate

-

1.7%

Technology

-

34.2%

Utilities

XUT.TO
90.9%
VEE.TO
2.2%

Energy

XUT.TO
9.1%
VEE.TO
3.4%

Basic Materials

XUT.TO

-

VEE.TO
7.2%

Communication Services

XUT.TO

-

VEE.TO
6.5%

Consumer Cyclical

XUT.TO

-

VEE.TO
8.2%

Consumer Defensive

XUT.TO

-

VEE.TO
3.2%

Financial Services

XUT.TO

-

VEE.TO
18.0%

Healthcare

XUT.TO

-

VEE.TO
3.7%

Industrials

XUT.TO

-

VEE.TO
7.5%

Real Estate

XUT.TO

-

VEE.TO
1.7%

Technology

XUT.TO

-

VEE.TO
34.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares S&P/TSX Capped Utilities Index ETF

Vanguard FTSE Emerging Markets All Cap Index ETF

Often compared with XUT.TO:
XUT.TO vs. ZUT.TOXUT.TO vs. ZLB.TOXUT.TO vs. XEI.TOXUT.TO vs. XIU.TOXUT.TO vs. XLUXUT.TO vs. UTES.TOXUT.TO vs. VPU
Often compared with VEE.TO:
VEE.TO vs. XEC.TOVEE.TO vs. ZEM.TOVEE.TO vs. VFV.TOVEE.TO vs. XEQT.TOVEE.TO vs. VIDY.TOVEE.TO vs. VOOVEE.TO vs. VXUS

Return for Risk

XUT.TO vs. VEE.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
XUT.TO
XUT.TO Risk / Return Rank: 7575
Overall Rank
XUT.TO Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
XUT.TO Sortino Ratio Rank: 7979
Sortino Ratio Rank
XUT.TO Omega Ratio Rank: 8787
Omega Ratio Rank
XUT.TO Calmar Ratio Rank: 6767
Calmar Ratio Rank
XUT.TO Martin Ratio Rank: 5656
Martin Ratio Rank
VEE.TO
VEE.TO Risk / Return Rank: 5757
Overall Rank
VEE.TO Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
VEE.TO Sortino Ratio Rank: 5555
Sortino Ratio Rank
VEE.TO Omega Ratio Rank: 5555
Omega Ratio Rank
VEE.TO Calmar Ratio Rank: 6262
Calmar Ratio Rank
VEE.TO Martin Ratio Rank: 5959
Martin Ratio Rank
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.

XUT.TO vs. VEE.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 Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.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.TOVEE.TODifference
Sharpe ratioReturn per unit of total volatility
2.19
1.51

+0.68

Sortino ratioReturn per unit of downside risk
2.85
2.14

+0.71

Omega ratioGain probability vs. loss probability

1.42

1.28

+0.14

Calmar ratioReturn relative to maximum drawdown

2.64

2.46

+0.17

Martin ratioReturn relative to average drawdown

7.41

7.88

-0.47

XUT.TO vs. VEE.TO - Sharpe Ratio Comparison

The current XUT.TO Sharpe Ratio is 2.19, which is higher than the VEE.TO Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of XUT.TO and VEE.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

XUT.TO vs. VEE.TO - Drawdown Comparison

The maximum XUT.TO drawdown since its inception was -37.65%, which is greater than VEE.TO's maximum drawdown of -29.84%. Use the drawdown chart below to compare losses from any high point for XUT.TO and VEE.TO.

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Drawdown Indicators

XUT.TOVEE.TODifference

Max Drawdown

Largest peak-to-trough decline

-37.65%

-29.84%

-7.81%

Max Drawdown (1Y)

Largest decline over 1 year

-7.64%

-10.74%

+3.10%

Max Drawdown (3Y)

Largest decline over 3 years

-14.47%

-14.97%

+0.50%

Max Drawdown (5Y)

Largest decline over 5 years

-28.54%

-25.82%

-2.72%

Max Drawdown (10Y)

Largest decline over 10 years

-37.65%

-29.84%

-7.81%

Current Drawdown

Current decline from peak

-3.33%

-2.44%

-0.89%

Average Drawdown

Average peak-to-trough decline

-5.76%

-8.67%

+2.91%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.72%

3.35%

-0.63%

Volatility

XUT.TO vs. VEE.TO - Volatility Comparison

The current volatility for iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) is 3.01%, while Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) has a volatility of 6.23%. This indicates that XUT.TO experiences smaller price fluctuations and is considered to be less risky than VEE.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.TOVEE.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.01%

6.23%

-3.22%

Volatility (6M)

Calculated over the trailing 6-month period

7.19%

15.26%

-8.07%

Volatility (1Y)

Calculated over the trailing 1-year period

9.22%

17.50%

-8.28%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.84%

15.65%

-2.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.17%

17.06%

-0.89%

XUT.TO vs. VEE.TO - Expense Ratio Comparison

XUT.TO has a 0.61% expense ratio, which is higher than VEE.TO's 0.25% expense ratio.

Dividends

XUT.TO vs. VEE.TO - Dividend Comparison

XUT.TO's dividend yield for the trailing twelve months is around 3.13%, more than VEE.TO's 1.81% yield.

PositionTTM20252024202320222021202020192018201720162015
VEE.TO
Vanguard FTSE Emerging Markets All Cap Index ETF		1.81%2.26%2.45%2.83%3.35%2.18%1.62%2.71%2.24%1.93%2.01%2.53%
XUT.TO
iShares S&P/TSX Capped Utilities Index ETF		3.13%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 VEE.TO have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VEE.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VEE.TO is cheaper with a 0.25% expense ratio, compared with 0.61% for XUT.TO.

XUT.TO is categorized as Utilities Equities, while VEE.TO is Emerging Markets Equities. XUT.TO tracks S&P/TSX Capped Utilities Index, while VEE.TO tracks FTSE Emerging Markets All Cap China A Inclusion Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.61% for XUT.TO and 0.25% for VEE.TO.

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