CACE.TO vs. XCS.TO

Last updated Jun 5, 2026

CACE.TO (Avantis CIBC Canadian Equity ETF) and XCS.TO (iShares S&P/TSX SmallCap Index ETF) are both Canada Equities funds. CACE.TO is actively managed, while XCS.TO is passively managed. Their correlation of 0.82 suggests significant overlap in exposure. CACE.TO charges 0.19%/yr vs 0.60%/yr for XCS.TO.

Performance

CACE.TO vs. XCS.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Avantis CIBC Canadian Equity ETF (CACE.TO) and iShares S&P/TSX SmallCap Index ETF (XCS.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CACE.TO

• 1D: 1.02%
• 1M: 5.11%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XCS.TO

• 1D: 0.87%
• 1M: 5.01%
• YTD: 24.60%
• 6M: 21.86%
• 1Y: 63.46%
• 3Y*: 29.60%
• 5Y*: 12.50%
• 10Y*: 9.98%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CACE.TO vs. XCS.TO - Yearly Performance Comparison

	2026 (YTD)
CACE.TO Avantis CIBC Canadian Equity ETF	5.77%
XCS.TO iShares S&P/TSX SmallCap Index ETF	7.45%

Correlation

The correlation between CACE.TO and XCS.TO is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 23, 2026	0.82

Return for Risk

CACE.TO vs. XCS.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XCS.TO

XCS.TO Risk / Return Rank: 82
XCS.TO Sharpe Ratio Rank: 88
XCS.TO Sortino Ratio Rank: 75
XCS.TO Omega Ratio Rank: 85
XCS.TO Calmar Ratio Rank: 83
XCS.TO Martin Ratio Rank: 79

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.

CACE.TO vs. XCS.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis CIBC Canadian Equity ETF (CACE.TO) and iShares S&P/TSX SmallCap Index ETF (XCS.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CACE.TO	XCS.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.95	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.62	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.33	0.24	+1.09

Drawdowns

CACE.TO vs. XCS.TO - Drawdown Comparison

The maximum CACE.TO drawdown since its inception was -10.51%, smaller than the maximum XCS.TO drawdown of -61.18%. Use the drawdown chart below to compare losses from any high point for CACE.TO and XCS.TO.

Drawdown Indicators

	CACE.TO	XCS.TO	Difference
Max Drawdown Largest peak-to-trough decline	-10.51%	-61.18%	+50.67%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.58%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-15.54%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.63%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-50.44%	—
Current Drawdown Current decline from peak	0.00%	-0.44%	+0.44%
Average Drawdown Average peak-to-trough decline	-2.82%	-16.95%	+14.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.25%	—

Volatility

Volatility by Period

	CACE.TO	XCS.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.59%	—
Volatility (6M) Calculated over the trailing 6-month period	—	17.36%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.37%	21.62%	-5.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.37%	20.42%	-4.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.37%	20.41%	-4.04%

CACE.TO vs. XCS.TO - Expense Ratio Comparison

CACE.TO has a 0.19% expense ratio, which is lower than XCS.TO's 0.60% expense ratio.

Dividends

CACE.TO vs. XCS.TO - Dividend Comparison

CACE.TO has not paid dividends to shareholders, while XCS.TO's dividend yield for the trailing twelve months is around 1.02%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CACE.TO Avantis CIBC Canadian Equity 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%
XCS.TO iShares S&P/TSX SmallCap Index ETF	1.02%	1.36%	1.73%	2.59%	2.07%	1.51%	1.78%	2.27%	2.12%	1.81%	1.46%	2.34%

Frequently Asked Questions

Can I hold both CACE.TO and XCS.TO in my portfolio?

CACE.TO and XCS.TO have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CACE.TO or XCS.TO?

On fees, CACE.TO is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CACE.TO or XCS.TO?

CACE.TO is cheaper with a 0.19% expense ratio, compared with 0.60% for XCS.TO.

What is the main difference between CACE.TO and XCS.TO?

They also come from different issuers: Avantis and iShares. Their fees differ too: 0.19% for CACE.TO and 0.60% for XCS.TO.