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CP.TO vs. XUU.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CP.TO vs. XUU.TO

Last updated Jul 17, 2026
Documentation

CP.TO (Canadian Pacific Railway Limited) is a stock, while XUU.TO (iShares Core S&P U.S. Total Market Index ETF) is Large Cap Blend Equities fund tracking the S&P Total Market Index. Over the past 10 years, CP.TO returned 16.62%/yr vs 15.22%/yr for XUU.TO. At a 0.42 correlation, their price movements are largely independent.

Performance

CP.TO vs. XUU.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Canadian Pacific Railway Limited (CP.TO) and iShares Core S&P U.S. Total Market Index ETF (XUU.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, CP.TO achieves a 29.65% return, which is significantly higher than XUU.TO's 13.79% return. Over the past 10 years, CP.TO has outperformed XUU.TO with an annualized return of 16.62%, while XUU.TO has yielded a comparatively lower 15.22% annualized return.

CP.TO

1D
2.65%
1M
4.76%
6M
30.20%
YTD
29.65%
1Y
18.97%
3Y*
8.24%
5Y*
8.25%
10Y*
16.62%

XUU.TO

1D
-0.30%
1M
0.91%
6M
10.41%
YTD
13.79%
1Y
24.73%
3Y*
21.90%
5Y*
14.73%
10Y*
15.22%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CP.TO vs. XUU.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CP.TO
Canadian Pacific Railway Limited		29.65%-2.09%-0.05%4.62%11.83%4.79%40.10%44.01%11.13%26.27%
XUU.TO
iShares Core S&P U.S. Total Market Index ETF		13.79%11.25%34.07%23.11%-13.53%25.94%16.26%23.78%2.43%12.80%

Correlation

The correlation between CP.TO and XUU.TO is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.22

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

0.32

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

0.39

Correlation (10Y)
Calculated over the trailing 10-year period

0.43

Correlation (All Time)
Calculated using the full available price history since Feb 18, 2015

0.42

The correlation between CP.TO and XUU.TO shifts across timeframes, from 0.22 (1 year) to 0.43 (10 years), reflecting how their relationship changes across market environments.

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Canadian Pacific Railway Limited

iShares Core S&P U.S. Total Market Index ETF

Often compared with CP.TO:
CP.TO vs. CNR.TOCP.TO vs. RY.TOCP.TO vs. DGS.TOCP.TO vs. VFV.TOCP.TO vs. XIU.TOCP.TO vs. TPZ.TOCP.TO vs. ATD.TO
Often compared with XUU.TO:
XUU.TO vs. XUS.TOXUU.TO vs. VUN.TOXUU.TO vs. XAW.TOXUU.TO vs. XUU-U.TOXUU.TO vs. XIC.TOXUU.TO vs. VTIXUU.TO vs. VOO

Return for Risk

CP.TO vs. XUU.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CP.TO
CP.TO Risk / Return Rank: 6969
Overall Rank
CP.TO Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
CP.TO Sortino Ratio Rank: 6767
Sortino Ratio Rank
CP.TO Omega Ratio Rank: 6464
Omega Ratio Rank
CP.TO Calmar Ratio Rank: 7474
Calmar Ratio Rank
CP.TO Martin Ratio Rank: 7070
Martin Ratio Rank
XUU.TO
XUU.TO Risk / Return Rank: 7474
Overall Rank
XUU.TO Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
XUU.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
XUU.TO Omega Ratio Rank: 7777
Omega Ratio Rank
XUU.TO Calmar Ratio Rank: 7070
Calmar Ratio Rank
XUU.TO Martin Ratio Rank: 7272
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.

CP.TO vs. XUU.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Canadian Pacific Railway Limited (CP.TO) and iShares Core S&P U.S. Total Market Index ETF (XUU.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.

CP.TOXUU.TODifference
Sharpe ratioReturn per unit of total volatility
0.86
1.96

-1.10

Sortino ratioReturn per unit of downside risk
1.37
2.72

-1.35

Omega ratioGain probability vs. loss probability

1.16

1.36

-0.20

Calmar ratioReturn relative to maximum drawdown

1.59

2.82

-1.23

Martin ratioReturn relative to average drawdown

2.97

10.55

-7.58

CP.TO vs. XUU.TO - Sharpe Ratio Comparison

The current CP.TO Sharpe Ratio is 0.86, which is lower than the XUU.TO Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of CP.TO and XUU.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

CP.TO vs. XUU.TO - Drawdown Comparison

The maximum CP.TO drawdown since its inception was -58.01%, which is greater than XUU.TO's maximum drawdown of -28.22%. Use the drawdown chart below to compare losses from any high point for CP.TO and XUU.TO.

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Drawdown Indicators

CP.TOXUU.TODifference

Max Drawdown

Largest peak-to-trough decline

-58.01%

-28.22%

-29.79%

Max Drawdown (1Y)

Largest decline over 1 year

-11.97%

-8.80%

-3.17%

Max Drawdown (3Y)

Largest decline over 3 years

-21.60%

-19.70%

-1.90%

Max Drawdown (5Y)

Largest decline over 5 years

-21.60%

-23.40%

+1.80%

Max Drawdown (10Y)

Largest decline over 10 years

-27.38%

-28.22%

+0.84%

Current Drawdown

Current decline from peak

0.00%

-1.18%

+1.18%

Average Drawdown

Average peak-to-trough decline

-10.25%

-4.12%

-6.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.57%

2.35%

+4.22%

Volatility

CP.TO vs. XUU.TO - Volatility Comparison

Canadian Pacific Railway Limited (CP.TO) has a higher volatility of 5.74% compared to iShares Core S&P U.S. Total Market Index ETF (XUU.TO) at 3.17%. This indicates that CP.TO's price experiences larger fluctuations and is considered to be riskier than XUU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CP.TOXUU.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.74%

3.17%

+2.57%

Volatility (6M)

Calculated over the trailing 6-month period

16.68%

9.92%

+6.76%

Volatility (1Y)

Calculated over the trailing 1-year period

22.16%

12.66%

+9.50%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.16%

15.55%

+6.61%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.61%

16.58%

+7.03%

Dividends

CP.TO vs. XUU.TO - Dividend Comparison

CP.TO's dividend yield for the trailing twelve months is around 0.73%, less than XUU.TO's 1.02% yield.

PositionTTM20252024202320222021202020192018201720162015
CP.TO
Canadian Pacific Railway Limited		0.73%0.86%0.73%0.72%0.75%1.67%4.03%4.74%5.19%4.76%4.83%3.96%
XUU.TO
iShares Core S&P U.S. Total Market Index ETF		1.02%1.16%1.02%1.22%1.38%1.01%1.33%1.68%1.74%1.49%1.65%1.53%

Frequently Asked Questions

CP.TO and XUU.TO have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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