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

XUT.TO vs. XEQT.TO

Last updated Jun 4, 2026

XUT.TO (iShares S&P/TSX Capped Utilities Index ETF) and XEQT.TO (iShares Core Equity ETF Portfolio) are both exchange-traded funds - XUT.TO is a Utilities Equities fund tracking the Morningstar Gbl GR CAD, while XEQT.TO is a Global Equities fund actively managed by iShares. XUT.TO is passively managed, while XEQT.TO is actively managed. Over the past 5 years, XUT.TO returned 7.97%/yr vs 13.72%/yr for XEQT.TO. At a 0.42 correlation, their price movements are largely independent. XUT.TO charges 0.61%/yr vs 0.20%/yr for XEQT.TO.

Performance

XUT.TO vs. XEQT.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 iShares Core Equity ETF Portfolio (XEQT.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 14.90% return, which is significantly higher than XEQT.TO's 12.29% return.

XUT.TO

1D
0.14%
1M
3.21%
YTD
14.90%
6M
13.55%
1Y
23.81%
3Y*
12.29%
5Y*
7.97%
10Y*
9.43%

XEQT.TO

1D
-0.56%
1M
5.98%
YTD
12.29%
6M
11.20%
1Y
29.24%
3Y*
21.78%
5Y*
13.72%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022202120202019
XUT.TO
iShares S&P/TSX Capped Utilities Index ETF		14.90%18.91%13.09%-0.45%-11.02%10.80%14.74%8.06%
XEQT.TO
iShares Core Equity ETF Portfolio		12.29%19.47%24.36%17.25%-11.01%18.94%11.82%9.89%

Correlation

The correlation between XUT.TO and XEQT.TO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.14

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

0.37

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

0.37

Correlation (All Time)
Calculated using the full available price history since Aug 15, 2019

0.42

Over the past year, the correlation between XUT.TO and XEQT.TO has dropped to 0.14 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.

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

Sectors
XUT.TO
XEQT.TO

Utilities

90.7%
2.8%

Energy

9.3%
7.2%

Basic Materials

-

7.3%

Communication Services

-

6.4%

Consumer Cyclical

-

7.8%

Consumer Defensive

-

4.4%

Financial Services

-

20.3%

Healthcare

-

6.6%

Industrials

-

12.1%

Real Estate

-

2.2%

Technology

-

22.9%

Utilities

XUT.TO
90.7%
XEQT.TO
2.8%

Energy

XUT.TO
9.3%
XEQT.TO
7.2%

Basic Materials

XUT.TO

-

XEQT.TO
7.3%

Communication Services

XUT.TO

-

XEQT.TO
6.4%

Consumer Cyclical

XUT.TO

-

XEQT.TO
7.8%

Consumer Defensive

XUT.TO

-

XEQT.TO
4.4%

Financial Services

XUT.TO

-

XEQT.TO
20.3%

Healthcare

XUT.TO

-

XEQT.TO
6.6%

Industrials

XUT.TO

-

XEQT.TO
12.1%

Real Estate

XUT.TO

-

XEQT.TO
2.2%

Technology

XUT.TO

-

XEQT.TO
22.9%

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iShares S&P/TSX Capped Utilities Index ETF

iShares Core Equity ETF Portfolio

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Often compared with XEQT.TO:
XEQT.TO vs. VFV.TOXEQT.TO vs. VEQT.TOXEQT.TO vs. XGRO.TOXEQT.TO vs. ZEQT.TOXEQT.TO vs. VGRO.TOXEQT.TO vs. XEI.TOXEQT.TO vs. VOO

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XUT.TO
XUT.TO Risk / Return Rank: 8484
Overall Rank
XUT.TO Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
XUT.TO Sortino Ratio Rank: 8989
Sortino Ratio Rank
XUT.TO Omega Ratio Rank: 8989
Omega Ratio Rank
XUT.TO Calmar Ratio Rank: 8585
Calmar Ratio Rank
XUT.TO Martin Ratio Rank: 6767
Martin Ratio Rank
XEQT.TO
XEQT.TO Risk / Return Rank: 7575
Overall Rank
XEQT.TO Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
XEQT.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
XEQT.TO Omega Ratio Rank: 7676
Omega Ratio Rank
XEQT.TO Calmar Ratio Rank: 7070
Calmar Ratio Rank
XEQT.TO Martin Ratio Rank: 7878
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.

XUT.TO vs. XEQT.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 iShares Core Equity ETF Portfolio (XEQT.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.

XUT.TOXEQT.TODifference
Sharpe ratioReturn per unit of total volatility
2.99
2.53

+0.47

Sortino ratioReturn per unit of downside risk
4.20
3.49

+0.71

Omega ratioGain probability vs. loss probability

1.57

1.47

+0.11

Calmar ratioReturn relative to maximum drawdown

4.78

3.56

+1.22

Martin ratioReturn relative to average drawdown

12.45

15.50

-3.05

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current XUT.TO Sharpe Ratio is 2.99, which is comparable to the XEQT.TO Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of XUT.TO and XEQT.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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Sharpe Ratios by Period

XUT.TOXEQT.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.99

2.53

+0.47

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.63

1.05

-0.42

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.59

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.54

0.95

-0.41

Drawdowns

XUT.TO vs. XEQT.TO - Drawdown Comparison

The maximum XUT.TO drawdown since its inception was -37.65%, which is greater than XEQT.TO's maximum drawdown of -29.74%. Use the drawdown chart below to compare losses from any high point for XUT.TO and XEQT.TO.

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Drawdown Indicators

XUT.TOXEQT.TODifference

Max Drawdown

Largest peak-to-trough decline

-37.65%

-29.74%

-7.91%

Max Drawdown (1Y)

Largest decline over 1 year

-5.00%

-8.25%

+3.25%

Max Drawdown (3Y)

Largest decline over 3 years

-19.77%

-15.08%

-4.69%

Max Drawdown (5Y)

Largest decline over 5 years

-28.54%

-19.56%

-8.98%

Max Drawdown (10Y)

Largest decline over 10 years

-37.65%

—

—

Current Drawdown

Current decline from peak

-1.20%

-0.56%

-0.64%

Average Drawdown

Average peak-to-trough decline

-5.70%

-4.11%

-1.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.94%

1.89%

+0.05%

Volatility

XUT.TO vs. XEQT.TO - Volatility Comparison

The current volatility for iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) is 2.50%, while iShares Core Equity ETF Portfolio (XEQT.TO) has a volatility of 3.70%. This indicates that XUT.TO experiences smaller price fluctuations and is considered to be less risky than XEQT.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.TOXEQT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.50%

3.70%

-1.20%

Volatility (6M)

Calculated over the trailing 6-month period

6.68%

9.38%

-2.70%

Volatility (1Y)

Calculated over the trailing 1-year period

8.05%

11.63%

-3.58%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.65%

13.12%

-0.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.09%

15.56%

+0.53%

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

XUT.TO has a 0.61% expense ratio, which is higher than XEQT.TO's 0.20% expense ratio.

Dividends

XUT.TO vs. XEQT.TO - Dividend Comparison

XUT.TO's dividend yield for the trailing twelve months is around 3.23%, more than XEQT.TO's 1.48% yield.

PositionTTM20252024202320222021202020192018201720162015
XEQT.TO
iShares Core Equity ETF Portfolio		1.48%1.66%2.01%2.07%2.12%1.64%1.66%1.19%0.00%0.00%0.00%0.00%
XUT.TO
iShares S&P/TSX Capped Utilities Index ETF		3.23%3.79%4.00%3.90%3.80%2.99%4.51%3.57%4.52%3.57%3.74%4.05%

Frequently Asked Questions

XUT.TO and XEQT.TO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XEQT.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XEQT.TO is cheaper with a 0.20% expense ratio, compared with 0.61% for XUT.TO.

XUT.TO is categorized as Utilities Equities, while XEQT.TO is Global Equities. Their fees differ too: 0.61% for XUT.TO and 0.20% for XEQT.TO.

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