CSAV.TO vs. XIC.TO

Last updated Aug 4, 2026

CSAV.TO (CI High Interest Savings ETF) and XIC.TO (iShares Core S&P/TSX Capped Composite Index ETF) are both exchange-traded funds - CSAV.TO is a Money Market fund actively managed by CI, while XIC.TO is a Canada Equities fund tracking the S&P/TSX Capped Composite Index. CSAV.TO is actively managed, while XIC.TO is passively managed. Over the past 5 years, CSAV.TO returned 3.13%/yr vs 14.56%/yr for XIC.TO. Their 0.03 correlation means their historical movements had little consistent relationship. CSAV.TO charges 0.15%/yr vs 0.06%/yr for XIC.TO.

Performance

CSAV.TO vs. XIC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI High Interest Savings ETF (CSAV.TO) and iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSAV.TO achieves a 1.18% return, which is significantly lower than XIC.TO's 12.55% return.

CSAV.TO

• 1D: 0.02%
• 1M: 0.15%
• 6M: 1.01%
• YTD: 1.18%
• 1Y: 2.17%
• 3Y*: 3.44%
• 5Y*: 3.13%
• 10Y*: —
• ALL TIME*: 2.53%

XIC.TO

• 1D: -0.76%
• 1M: 0.04%
• 6M: 10.65%
• YTD: 12.55%
• 1Y: 33.33%
• 3Y*: 23.01%
• 5Y*: 14.56%
• 10Y*: 12.41%
• ALL TIME*: 9.28%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CSAV.TO CI High Interest Savings ETF	CA$1.49M	CA$1.26M	CA$1.48M
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF	CA$23.72M	CA$28.51M	CA$27.00M

CSAV.TO vs. XIC.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CSAV.TO CI High Interest Savings ETF	1.18%	2.54%	4.43%	5.04%	2.29%	0.55%	0.92%	1.14%
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF	12.55%	31.51%	21.48%	11.74%	-5.82%	23.43%	5.61%	6.15%

Correlation

The correlation between CSAV.TO and XIC.TO is 0.05, 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.	0.05
Correlation (3Y) Balances recent behavior with more history.	0.02
Correlation (5Y) Shows whether the relationship held over a longer period.	0.05
Correlation (All Time) Calculated using the full available price history since Jun 18, 2019	0.03

Return for Risk

CSAV.TO vs. XIC.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CSAV.TO

CSAV.TO Risk / Return Rank: 99
CSAV.TO Sharpe Ratio Rank: 99
CSAV.TO Sortino Ratio Rank: 99
CSAV.TO Omega Ratio Rank: 99
CSAV.TO Calmar Ratio Rank: 100
CSAV.TO Martin Ratio Rank: 100

XIC.TO

XIC.TO Risk / Return Rank: 90
XIC.TO Sharpe Ratio Rank: 92
XIC.TO Sortino Ratio Rank: 89
XIC.TO Omega Ratio Rank: 90
XIC.TO Calmar Ratio Rank: 87
XIC.TO Martin Ratio Rank: 91

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.

CSAV.TO vs. XIC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI High Interest Savings ETF (CSAV.TO) and iShares Core S&P/TSX Capped Composite Index ETF (XIC.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.

	CSAV.TO	XIC.TO	Difference
Sharpe ratio: Return per unit of total volatility	8.62	2.42	+6.20
Sortino ratio: Return per unit of downside risk	19.71	3.13	+16.59
Omega ratio: Gain probability vs. loss probability	4.54	1.42	+3.12
Calmar ratio: Return relative to maximum drawdown	108.77	3.47	+105.30
Martin ratio: Return relative to average drawdown	301.45	15.70	+285.75

CSAV.TO vs. XIC.TO - Sharpe Ratio Comparison

The current CSAV.TO Sharpe Ratio is 8.62, which is higher than the XIC.TO Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of CSAV.TO and XIC.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.

Drawdowns

CSAV.TO vs. XIC.TO - Drawdown Comparison

The maximum CSAV.TO drawdown since its inception was -0.02%, smaller than the maximum XIC.TO drawdown of -47.27%. Use the drawdown chart below to compare losses from any high point for CSAV.TO and XIC.TO.

Drawdown Indicators

	CSAV.TO	XIC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-0.02%	-47.27%	+47.25%
Max Drawdown (1Y) Largest decline over 1 year	-0.02%	-9.29%	+9.27%
Max Drawdown (3Y) Largest decline over 3 years	-0.02%	-12.27%	+12.25%
Max Drawdown (5Y) Largest decline over 5 years	-0.02%	-16.24%	+16.22%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.21%	—
Current Drawdown Current decline from peak	0.00%	-1.56%	+1.56%
Average Drawdown Average peak-to-trough decline	0.00%	-6.72%	+6.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	2.05%	-2.04%

Volatility

CSAV.TO vs. XIC.TO - Volatility Comparison

The current volatility for CI High Interest Savings ETF (CSAV.TO) is 0.07%, while iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) has a volatility of 3.10%. This indicates that CSAV.TO experiences smaller price fluctuations and is considered to be less risky than XIC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSAV.TO	XIC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.07%	3.10%	-3.03%
Volatility (6M) Calculated over the trailing 6-month period	0.18%	10.35%	-10.17%
Volatility (1Y) Calculated over the trailing 1-year period	0.25%	13.34%	-13.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.28%	13.23%	-12.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.27%	14.96%	-14.69%

CSAV.TO vs. XIC.TO - Expense Ratio Comparison

CSAV.TO has a 0.15% expense ratio, which is higher than XIC.TO's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

CSAV.TO vs. XIC.TO - Dividend Comparison

CSAV.TO's dividend yield for the trailing twelve months is around 2.16%, more than XIC.TO's 2.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSAV.TO CI High Interest Savings ETF	2.16%	2.53%	4.40%	4.90%	2.15%	0.57%	0.89%	1.14%	0.00%	0.00%	0.00%	0.00%
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF	2.00%	2.23%	2.64%	2.96%	3.10%	2.45%	3.03%	3.01%	3.19%	2.49%	2.72%	3.21%

Frequently Asked Questions

Can I hold both CSAV.TO and XIC.TO in my portfolio?

CSAV.TO and XIC.TO have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CSAV.TO or XIC.TO?

On fees, XIC.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CSAV.TO or XIC.TO?

XIC.TO is cheaper with a 0.06% expense ratio, compared with 0.15% for CSAV.TO.

What is the main difference between CSAV.TO and XIC.TO?

CSAV.TO is categorized as Money Market, while XIC.TO is Canada Equities. They also come from different issuers: CI and iShares. Their fees differ too: 0.15% for CSAV.TO and 0.06% for XIC.TO.