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CWW.TO vs. XDIV.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CWW.TO vs. XDIV.TO

Last updated Jun 4, 2026

CWW.TO (iShares Global Water Index ETF) and XDIV.TO (iShares Core MSCI Canadian Quality Dividend Index ETF) are both exchange-traded funds - CWW.TO is a Water Equities fund tracking the Morningstar Gbl GR CAD, while XDIV.TO is a Dividend fund tracking the MSCI Canada High Dividend Yield 10% Security Capped Index. Both are passively managed. Over the past 5 years, CWW.TO returned 4.32%/yr vs 16.42%/yr for XDIV.TO. A 0.52 correlation means they provide meaningful diversification when combined. CWW.TO charges 0.66%/yr vs 0.11%/yr for XDIV.TO.

Performance

CWW.TO vs. XDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Global Water Index ETF (CWW.TO) and iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.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, CWW.TO achieves a 0.67% return, which is significantly lower than XDIV.TO's 19.17% return.

CWW.TO

1D
0.76%
1M
-0.37%
YTD
0.67%
6M
-4.32%
1Y
3.23%
3Y*
6.26%
5Y*
4.32%
10Y*
8.42%

XDIV.TO

1D
0.19%
1M
3.65%
YTD
19.17%
6M
18.94%
1Y
38.61%
3Y*
22.97%
5Y*
16.42%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

CWW.TO vs. XDIV.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CWW.TO
iShares Global Water Index ETF		0.67%10.11%2.99%11.71%-16.52%27.08%12.93%26.85%-2.69%4.07%
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ETF		19.17%24.92%19.56%11.71%0.29%32.25%-7.81%24.84%-10.04%8.48%

Correlation

The correlation between CWW.TO and XDIV.TO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.39

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

0.45

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

0.47

Correlation (All Time)
Calculated using the full available price history since Jun 16, 2017

0.52

The correlation between CWW.TO and XDIV.TO shifts across timeframes, from 0.39 (1 year) to 0.52 (all time), reflecting how their relationship changes across market environments.

CWW.TO vs. XDIV.TO - Sectors Allocation Comparison

Sectors
CWW.TO
XDIV.TO

Utilities

46.7%
11.3%

Industrials

44.2%

-

Basic Materials

5.8%

-

Energy

1.6%
28.8%

Technology

1.1%
1.3%

Consumer Cyclical

0.5%
11.5%

Real Estate

0.2%

-

Communication Services

-

0.4%

Consumer Defensive

-

-

Financial Services

-

46.7%

Healthcare

-

-

Utilities

CWW.TO
46.7%
XDIV.TO
11.3%

Industrials

CWW.TO
44.2%
XDIV.TO

-

Basic Materials

CWW.TO
5.8%
XDIV.TO

-

Energy

CWW.TO
1.6%
XDIV.TO
28.8%

Technology

CWW.TO
1.1%
XDIV.TO
1.3%

Consumer Cyclical

CWW.TO
0.5%
XDIV.TO
11.5%

Real Estate

CWW.TO
0.2%
XDIV.TO

-

Communication Services

CWW.TO

-

XDIV.TO
0.4%

Consumer Defensive

CWW.TO

-

XDIV.TO

-

Financial Services

CWW.TO

-

XDIV.TO
46.7%

Healthcare

CWW.TO

-

XDIV.TO

-

Compare stocks, funds, or ETFs

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iShares Global Water Index ETF

iShares Core MSCI Canadian Quality Dividend Index ETF

Often compared with CWW.TO:
CWW.TO vs. FIWCWW.TO vs. COW.TOCWW.TO vs. CIF.TOCWW.TO vs. KBWBCWW.TO vs. VFV.TOCWW.TO vs. XAW.TOCWW.TO vs. ENFR
Often compared with XDIV.TO:
XDIV.TO vs. VDY.TOXDIV.TO vs. XEI.TOXDIV.TO vs. XDV.TOXDIV.TO vs. XEQT.TOXDIV.TO vs. HDIV.TOXDIV.TO vs. XIU.TOXDIV.TO vs. CDZ.TO

Return for Risk

CWW.TO vs. XDIV.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CWW.TO
CWW.TO Risk / Return Rank: 1212
Overall Rank
CWW.TO Sharpe Ratio Rank: 1212
Sharpe Ratio Rank
CWW.TO Sortino Ratio Rank: 1212
Sortino Ratio Rank
CWW.TO Omega Ratio Rank: 1111
Omega Ratio Rank
CWW.TO Calmar Ratio Rank: 1313
Calmar Ratio Rank
CWW.TO Martin Ratio Rank: 1313
Martin Ratio Rank
XDIV.TO
XDIV.TO Risk / Return Rank: 9898
Overall Rank
XDIV.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
XDIV.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
XDIV.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XDIV.TO Calmar Ratio Rank: 9898
Calmar Ratio Rank
XDIV.TO Martin Ratio Rank: 9898
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.

CWW.TO vs. XDIV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Water Index ETF (CWW.TO) and iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.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.

CWW.TOXDIV.TODifference
Sharpe ratioReturn per unit of total volatility
0.23
4.94

-4.71

Sortino ratioReturn per unit of downside risk
0.44
7.29

-6.85

Omega ratioGain probability vs. loss probability

1.05

2.03

-0.98

Calmar ratioReturn relative to maximum drawdown

0.32

16.64

-16.32

Martin ratioReturn relative to average drawdown

0.79

56.55

-55.76

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

CWW.TO vs. XDIV.TO - Sharpe Ratio Comparison

The current CWW.TO Sharpe Ratio is 0.23, which is lower than the XDIV.TO Sharpe Ratio of 4.94. The chart below compares the historical Sharpe Ratios of CWW.TO and XDIV.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

CWW.TOXDIV.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.23

4.94

-4.71

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.28

1.57

-1.29

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.51

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.38

0.81

-0.43

Drawdowns

CWW.TO vs. XDIV.TO - Drawdown Comparison

The maximum CWW.TO drawdown since its inception was -46.54%, which is greater than XDIV.TO's maximum drawdown of -41.30%. Use the drawdown chart below to compare losses from any high point for CWW.TO and XDIV.TO.

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Drawdown Indicators

CWW.TOXDIV.TODifference

Max Drawdown

Largest peak-to-trough decline

-46.54%

-41.30%

-5.24%

Max Drawdown (1Y)

Largest decline over 1 year

-10.24%

-2.33%

-7.91%

Max Drawdown (3Y)

Largest decline over 3 years

-19.77%

-10.53%

-9.24%

Max Drawdown (5Y)

Largest decline over 5 years

-31.05%

-17.60%

-13.45%

Max Drawdown (10Y)

Largest decline over 10 years

-31.05%

—

—

Current Drawdown

Current decline from peak

-8.12%

-0.09%

-8.03%

Average Drawdown

Average peak-to-trough decline

-9.47%

-4.25%

-5.22%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.11%

0.69%

+3.42%

Volatility

CWW.TO vs. XDIV.TO - Volatility Comparison

iShares Global Water Index ETF (CWW.TO) has a higher volatility of 4.23% compared to iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) at 2.81%. This indicates that CWW.TO's price experiences larger fluctuations and is considered to be riskier than XDIV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CWW.TOXDIV.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.23%

2.81%

+1.42%

Volatility (6M)

Calculated over the trailing 6-month period

10.85%

6.36%

+4.49%

Volatility (1Y)

Calculated over the trailing 1-year period

13.83%

7.85%

+5.98%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.40%

10.53%

+4.87%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.52%

16.01%

+0.51%

CWW.TO vs. XDIV.TO - Expense Ratio Comparison

CWW.TO has a 0.66% expense ratio, which is higher than XDIV.TO's 0.11% expense ratio.

Dividends

CWW.TO vs. XDIV.TO - Dividend Comparison

CWW.TO's dividend yield for the trailing twelve months is around 1.56%, less than XDIV.TO's 3.28% yield.

PositionTTM20252024202320222021202020192018201720162015
CWW.TO
iShares Global Water Index ETF		1.56%1.34%1.05%1.17%1.28%2.62%1.11%1.24%2.95%1.41%1.60%1.16%
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ETF		3.28%3.81%4.29%4.20%3.95%3.58%4.58%4.02%4.85%1.82%0.00%0.00%

Frequently Asked Questions

CWW.TO and XDIV.TO have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XDIV.TO is cheaper at 0.11% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XDIV.TO is cheaper with a 0.11% expense ratio, compared with 0.66% for CWW.TO.

CWW.TO is categorized as Water Equities, while XDIV.TO is Dividend. CWW.TO tracks Morningstar Gbl GR CAD, while XDIV.TO tracks MSCI Canada High Dividend Yield 10% Security Capped Index. Their fees differ too: 0.66% for CWW.TO and 0.11% for XDIV.TO.

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