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ESGD vs. XESG.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ESGD vs. XESG.TO

Last updated Jun 14, 2026

ESGD (iShares ESG Aware MSCI EAFE ETF) and XESG.TO (iShares ESG Aware MSCI Canada Index ETF) are both exchange-traded funds - ESGD is a Foreign Large Cap Equities fund tracking the MSCI EAFE Extended ESG Focus Index, while XESG.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD. Both are passively managed. Over the past 5 years, ESGD returned 7.96%/yr vs 9.28%/yr for XESG.TO. A 0.54 correlation means they provide meaningful diversification when combined. ESGD charges 0.20%/yr vs 0.16%/yr for XESG.TO.

Performance

ESGD vs. XESG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares ESG Aware MSCI EAFE ETF (ESGD) and iShares ESG Aware MSCI Canada Index ETF (XESG.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

ESGD is traded in USD, while XESG.TO is traded in CAD. To make them comparable, the XESG.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ESGD achieves a 9.13% return, which is significantly higher than XESG.TO's 8.30% return.

ESGD

1D
0.25%
1M
1.66%
YTD
9.13%
6M
10.49%
1Y
20.92%
3Y*
15.55%
5Y*
7.96%
10Y*
—

XESG.TO

1D
0.62%
1M
-0.17%
YTD
8.30%
6M
6.45%
1Y
25.69%
3Y*
19.26%
5Y*
9.28%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ESGD vs. XESG.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
ESGD
iShares ESG Aware MSCI EAFE ETF		9.13%29.63%3.95%18.53%-15.17%11.79%8.20%10.47%
XESG.TO
iShares ESG Aware MSCI Canada Index ETF		8.30%32.39%10.84%12.99%-13.14%23.15%3.60%14.68%

Correlation

The correlation between ESGD and XESG.TO is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.58

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

0.61

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

0.63

Correlation (All Time)
Calculated using the full available price history since Mar 22, 2019

0.54

The correlation between ESGD and XESG.TO has been stable across timeframes, ranging from 0.54 to 0.63 - a consistent structural relationship.

ESGD vs. XESG.TO - Sectors Allocation Comparison

Sectors
ESGD
XESG.TO

Financial Services

25.8%
38.5%

Industrials

18.2%
8.9%

Technology

12.6%
8.3%

Healthcare

9.9%
0.1%

Consumer Defensive

7.0%
1.9%

Consumer Cyclical

6.6%
2.2%

Basic Materials

5.5%
17.9%

Communication Services

4.3%
0.1%

Energy

3.9%
19.3%

Utilities

3.7%
2.7%

Real Estate

1.6%
0.2%

Financial Services

ESGD
25.8%
XESG.TO
38.5%

Industrials

ESGD
18.2%
XESG.TO
8.9%

Technology

ESGD
12.6%
XESG.TO
8.3%

Healthcare

ESGD
9.9%
XESG.TO
0.1%

Consumer Defensive

ESGD
7.0%
XESG.TO
1.9%

Consumer Cyclical

ESGD
6.6%
XESG.TO
2.2%

Basic Materials

ESGD
5.5%
XESG.TO
17.9%

Communication Services

ESGD
4.3%
XESG.TO
0.1%

Energy

ESGD
3.9%
XESG.TO
19.3%

Utilities

ESGD
3.7%
XESG.TO
2.7%

Real Estate

ESGD
1.6%
XESG.TO
0.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares ESG Aware MSCI EAFE ETF

iShares ESG Aware MSCI Canada Index ETF

Often compared with ESGD:
ESGD vs. ESGUESGD vs. ESGVESGD vs. DMXFESGD vs. SPYESGD vs. SDGESGD vs. FNIDXESGD vs. VOO
Often compared with XESG.TO:
XESG.TO vs. XCSR.TOXESG.TO vs. XEQT.TOXESG.TO vs. SCHGXESG.TO vs. VFV.TOXESG.TO vs. SPYXESG.TO vs. XIU.TOXESG.TO vs. GEQT.TO

Return for Risk

ESGD vs. XESG.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ESGD
ESGD Risk / Return Rank: 3939
Overall Rank
ESGD Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
ESGD Sortino Ratio Rank: 3939
Sortino Ratio Rank
ESGD Omega Ratio Rank: 3737
Omega Ratio Rank
ESGD Calmar Ratio Rank: 3838
Calmar Ratio Rank
ESGD Martin Ratio Rank: 4343
Martin Ratio Rank
XESG.TO
XESG.TO Risk / Return Rank: 7575
Overall Rank
XESG.TO Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
XESG.TO Sortino Ratio Rank: 6969
Sortino Ratio Rank
XESG.TO Omega Ratio Rank: 7676
Omega Ratio Rank
XESG.TO Calmar Ratio Rank: 7171
Calmar Ratio Rank
XESG.TO Martin Ratio Rank: 8080
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.

ESGD vs. XESG.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Aware MSCI EAFE ETF (ESGD) and iShares ESG Aware MSCI Canada Index ETF (XESG.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.

ESGDXESG.TODifference
Sharpe ratioReturn per unit of total volatility
1.23
1.82

-0.59

Sortino ratioReturn per unit of downside risk
1.81
2.37

-0.56

Omega ratioGain probability vs. loss probability

1.22

1.33

-0.10

Calmar ratioReturn relative to maximum drawdown

1.67

2.69

-1.02

Martin ratioReturn relative to average drawdown

6.22

10.85

-4.63

ESGD vs. XESG.TO - Sharpe Ratio Comparison

The current ESGD Sharpe Ratio is 1.23, which is lower than the XESG.TO Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of ESGD and XESG.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

ESGD vs. XESG.TO - Drawdown Comparison

The maximum ESGD drawdown since its inception was -33.70%, smaller than the maximum XESG.TO drawdown of -44.41%. Use the drawdown chart below to compare losses from any high point for ESGD and XESG.TO.

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Drawdown Indicators

ESGDXESG.TODifference

Max Drawdown

Largest peak-to-trough decline

-33.70%

-44.41%

+10.71%

Max Drawdown (1Y)

Largest decline over 1 year

-11.68%

-9.72%

-1.96%

Max Drawdown (3Y)

Largest decline over 3 years

-13.86%

-15.36%

+1.50%

Max Drawdown (5Y)

Largest decline over 5 years

-30.03%

-25.05%

-4.98%

Current Drawdown

Current decline from peak

-0.61%

-1.74%

+1.13%

Average Drawdown

Average peak-to-trough decline

-6.18%

-7.12%

+0.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.14%

2.40%

+0.74%

Volatility

ESGD vs. XESG.TO - Volatility Comparison

iShares ESG Aware MSCI EAFE ETF (ESGD) has a higher volatility of 5.56% compared to iShares ESG Aware MSCI Canada Index ETF (XESG.TO) at 4.57%. This indicates that ESGD's price experiences larger fluctuations and is considered to be riskier than XESG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ESGDXESG.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.56%

4.57%

+0.99%

Volatility (6M)

Calculated over the trailing 6-month period

13.31%

11.81%

+1.50%

Volatility (1Y)

Calculated over the trailing 1-year period

15.85%

14.33%

+1.52%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.72%

15.45%

+1.27%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.00%

23.02%

-6.02%

ESGD vs. XESG.TO - Expense Ratio Comparison

ESGD has a 0.20% expense ratio, which is higher than XESG.TO's 0.16% 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

ESGD vs. XESG.TO - Dividend Comparison

ESGD's dividend yield for the trailing twelve months is around 3.30%, more than XESG.TO's 1.99% yield.

PositionTTM2025202420232022202120202019201820172016
ESGD
iShares ESG Aware MSCI EAFE ETF		3.30%3.60%3.23%3.02%2.59%2.75%1.63%2.57%2.69%2.65%0.09%
XESG.TO
iShares ESG Aware MSCI Canada Index ETF		1.99%2.17%2.57%2.89%2.77%2.01%2.30%1.08%0.00%0.00%0.00%

Frequently Asked Questions

ESGD and XESG.TO have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XESG.TO is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XESG.TO is cheaper with a 0.16% expense ratio, compared with 0.20% for ESGD.

ESGD is categorized as Foreign Large Cap Equities, while XESG.TO is Canada Equities. ESGD tracks MSCI EAFE Extended ESG Focus Index, while XESG.TO tracks Morningstar Canada GR CAD. Their fees differ too: 0.20% for ESGD and 0.16% for XESG.TO.

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