CSU.TO vs. XCHP.TO

Last updated Jun 5, 2026

CSU.TO (Constellation Software Inc.) is a stock, while XCHP.TO (iShares Semiconductor Index ETF) is Semiconductors fund tracking the NYSE Semiconductor Index. Over the past year, CSU.TO returned -41.46% vs 185.03% for XCHP.TO. At a 0.17 correlation, their price movements are largely independent.

Performance

CSU.TO vs. XCHP.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Constellation Software Inc. (CSU.TO) and iShares Semiconductor Index ETF (XCHP.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSU.TO achieves a -12.06% return, which is significantly lower than XCHP.TO's 103.75% return.

CSU.TO

• 1D: 5.50%
• 1M: 17.73%
• YTD: -12.06%
• 6M: -12.25%
• 1Y: -41.46%
• 3Y*: 1.88%
• 5Y*: 11.13%
• 10Y*: 20.19%

XCHP.TO

• 1D: -1.50%
• 1M: 28.19%
• YTD: 103.75%
• 6M: 98.13%
• 1Y: 185.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CSU.TO vs. XCHP.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CSU.TO Constellation Software Inc.	-12.06%	-25.63%	35.48%	14.52%
XCHP.TO iShares Semiconductor Index ETF	103.75%	33.58%	21.73%	15.27%

Correlation

The correlation between CSU.TO and XCHP.TO is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.04
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023	0.17

The correlation between CSU.TO and XCHP.TO shifts across timeframes, from -0.04 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CSU.TO vs. XCHP.TO — Risk / Return Rank

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

CSU.TO

CSU.TO Risk / Return Rank: 10
CSU.TO Sharpe Ratio Rank: 4
CSU.TO Sortino Ratio Rank: 6
CSU.TO Omega Ratio Rank: 8
CSU.TO Calmar Ratio Rank: 14
CSU.TO Martin Ratio Rank: 16

XCHP.TO

XCHP.TO Risk / Return Rank: 97
XCHP.TO Sharpe Ratio Rank: 98
XCHP.TO Sortino Ratio Rank: 96
XCHP.TO Omega Ratio Rank: 95
XCHP.TO Calmar Ratio Rank: 98
XCHP.TO Martin Ratio Rank: 97

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.

CSU.TO vs. XCHP.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Constellation Software Inc. (CSU.TO) and iShares Semiconductor Index ETF (XCHP.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.

	CSU.TO	XCHP.TO	Difference
Sharpe ratio: Return per unit of total volatility	-1.02	5.62	-6.64
Sortino ratio: Return per unit of downside risk	-1.48	5.35	-6.83
Omega ratio: Gain probability vs. loss probability	0.83	1.72	-0.90
Calmar ratio: Return relative to maximum drawdown	-0.75	13.44	-14.20
Martin ratio: Return relative to average drawdown	-1.17	48.02	-49.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CSU.TO vs. XCHP.TO - Sharpe Ratio Comparison

The current CSU.TO Sharpe Ratio is -1.02, which is lower than the XCHP.TO Sharpe Ratio of 5.62. The chart below compares the historical Sharpe Ratios of CSU.TO and XCHP.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.

Sharpe Ratios by Period

	CSU.TO	XCHP.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.02	5.62	-6.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.20	1.88	-0.68

Drawdowns

CSU.TO vs. XCHP.TO - Drawdown Comparison

The maximum CSU.TO drawdown since its inception was -56.38%, which is greater than XCHP.TO's maximum drawdown of -38.95%. Use the drawdown chart below to compare losses from any high point for CSU.TO and XCHP.TO.

Drawdown Indicators

	CSU.TO	XCHP.TO	Difference
Max Drawdown Largest peak-to-trough decline	-56.38%	-38.95%	-17.43%
Max Drawdown (1Y) Largest decline over 1 year	-55.16%	-14.22%	-40.94%
Max Drawdown (3Y) Largest decline over 3 years	-56.38%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-56.38%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-56.38%	—	—
Current Drawdown Current decline from peak	-43.92%	-1.50%	-42.42%
Average Drawdown Average peak-to-trough decline	-6.84%	-8.66%	+1.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.45%	3.95%	+31.50%

Volatility

CSU.TO vs. XCHP.TO - Volatility Comparison

Constellation Software Inc. (CSU.TO) has a higher volatility of 15.46% compared to iShares Semiconductor Index ETF (XCHP.TO) at 13.19%. This indicates that CSU.TO's price experiences larger fluctuations and is considered to be riskier than XCHP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSU.TO	XCHP.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.46%	13.19%	+2.27%
Volatility (6M) Calculated over the trailing 6-month period	33.13%	26.79%	+6.34%
Volatility (1Y) Calculated over the trailing 1-year period	40.66%	34.01%	+6.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.31%	38.52%	-10.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.29%	38.52%	-11.23%

Dividends

CSU.TO vs. XCHP.TO - Dividend Comparison

CSU.TO's dividend yield for the trailing twelve months is around 0.19%, less than XCHP.TO's 0.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSU.TO Constellation Software Inc.	0.19%	0.17%	0.12%	0.16%	0.25%	0.21%	0.30%	2.53%	0.60%	0.68%	0.86%	0.90%
XCHP.TO iShares Semiconductor Index ETF	0.21%	0.43%	0.29%	0.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CSU.TO and XCHP.TO in my portfolio?

CSU.TO and XCHP.TO have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.