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GXC vs. XCH.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

GXC vs. XCH.TO

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR S&P China ETF (GXC) and iShares China Index ETF (XCH.TO).

GXC and XCH.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GXC is a passively managed fund by State Street that tracks the performance of the S&P China BMI Index. It was launched on Mar 19, 2007. XCH.TO is a passively managed fund by iShares that tracks the performance of the Morningstar China GR CAD. It was launched on Jan 21, 2010. Both GXC and XCH.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

GXC vs. XCH.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P China ETF (GXC) and iShares China Index ETF (XCH.TO). The values are adjusted to include any dividend payments, if applicable.

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GXC vs. XCH.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GXC
SPDR S&P China ETF		-4.21%30.84%14.60%-9.93%-22.12%-19.70%28.31%23.07%-19.39%51.66%
XCH.TO
iShares China Index ETF		-7.11%28.35%28.48%-12.82%-21.06%-19.97%9.32%13.51%-13.56%36.06%
Different Trading Currencies

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

Returns By Period

In the year-to-date period, GXC achieves a -4.21% return, which is significantly higher than XCH.TO's -7.11% return. Over the past 10 years, GXC has outperformed XCH.TO with an annualized return of 5.15%, while XCH.TO has yielded a comparatively lower 2.64% annualized return.

GXC

1D
-0.42%
1M
-5.54%
YTD
-4.21%
6M
-10.98%
1Y
10.37%
3Y*
7.19%
5Y*
-4.63%
10Y*
5.15%

XCH.TO

1D
-0.86%
1M
-3.55%
YTD
-7.11%
6M
-13.24%
1Y
1.38%
3Y*
8.52%
5Y*
-3.78%
10Y*
2.64%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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

SPDR S&P China ETF

iShares China Index ETF

Often compared with GXC:
GXC vs. MCHIGXC vs. KWEBGXC vs. ASHRGXC vs. SPYGXC vs. FXIGXC vs. CQQQGXC vs. CNYA
Often compared with XCH.TO:
XCH.TO vs. VEE.TOXCH.TO vs. XEC.TOXCH.TO vs. XAW.TOXCH.TO vs. XIC.TOXCH.TO vs. VFV.TOXCH.TO vs. FBRTXCH.TO vs. 3993.HK

GXC vs. XCH.TO - Expense Ratio Comparison

GXC has a 0.59% expense ratio, which is lower than XCH.TO's 0.87% expense ratio.

XCH.TO
iShares China Index ETF
GXC
SPDR S&P China ETF

Return for Risk

GXC vs. XCH.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GXC
GXC Risk / Return Rank: 2525
Overall Rank
GXC Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
GXC Sortino Ratio Rank: 2525
Sortino Ratio Rank
GXC Omega Ratio Rank: 2525
Omega Ratio Rank
GXC Calmar Ratio Rank: 2626
Calmar Ratio Rank
GXC Martin Ratio Rank: 2525
Martin Ratio Rank
XCH.TO
XCH.TO Risk / Return Rank: 1010
Overall Rank
XCH.TO Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
XCH.TO Sortino Ratio Rank: 1010
Sortino Ratio Rank
XCH.TO Omega Ratio Rank: 1010
Omega Ratio Rank
XCH.TO Calmar Ratio Rank: 1010
Calmar Ratio Rank
XCH.TO Martin Ratio Rank: 99
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.

GXC vs. XCH.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P China ETF (GXC) and iShares China Index ETF (XCH.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.

GXCXCH.TODifference

Sharpe ratio

Return per unit of total volatility

0.46

0.06

+0.40

Sortino ratio

Return per unit of downside risk

0.76

0.25

+0.51

Omega ratio

Gain probability vs. loss probability

1.11

1.03

+0.07

Calmar ratio

Return relative to maximum drawdown

0.64

0.07

+0.57

Martin ratio

Return relative to average drawdown

2.01

0.21

+1.80

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

GXC vs. XCH.TO - Sharpe Ratio Comparison

The current GXC Sharpe Ratio is 0.46, which is higher than the XCH.TO Sharpe Ratio of 0.06. The chart below compares the historical Sharpe Ratios of GXC and XCH.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

GXCXCH.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.46

0.06

+0.40

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.16

-0.12

-0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.20

0.10

+0.10

Sharpe Ratio (All Time)

Calculated using the full available price history

0.16

0.06

+0.10

Correlation

The correlation between GXC and XCH.TO is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

GXC vs. XCH.TO - Dividend Comparison

GXC's dividend yield for the trailing twelve months is around 2.51%, more than XCH.TO's 2.25% yield.

TTM20252024202320222021202020192018201720162015
GXC
SPDR S&P China ETF		2.51%2.40%2.81%3.70%2.67%1.35%1.04%1.60%2.03%1.84%2.05%2.85%
XCH.TO
iShares China Index ETF		2.25%2.11%1.54%2.86%2.35%1.50%2.17%2.50%2.45%2.41%2.21%2.58%

Drawdowns

GXC vs. XCH.TO - Drawdown Comparison

The maximum GXC drawdown since its inception was -71.96%, which is greater than XCH.TO's maximum drawdown of -60.86%. Use the drawdown chart below to compare losses from any high point for GXC and XCH.TO.

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Drawdown Indicators

GXCXCH.TODifference

Max Drawdown

Largest peak-to-trough decline

-71.96%

-58.02%

-13.94%

Max Drawdown (1Y)

Largest decline over 1 year

-16.11%

-17.10%

+0.99%

Max Drawdown (5Y)

Largest decline over 5 years

-54.30%

-51.64%

-2.66%

Max Drawdown (10Y)

Largest decline over 10 years

-60.23%

-58.02%

-2.21%

Current Drawdown

Current decline from peak

-32.31%

-21.53%

-10.78%

Average Drawdown

Average peak-to-trough decline

-28.81%

-20.41%

-8.40%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.26%

6.87%

-1.61%

Volatility

GXC vs. XCH.TO - Volatility Comparison

The current volatility for SPDR S&P China ETF (GXC) is 6.07%, while iShares China Index ETF (XCH.TO) has a volatility of 6.66%. This indicates that GXC experiences smaller price fluctuations and is considered to be less risky than XCH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GXCXCH.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.07%

6.66%

-0.59%

Volatility (6M)

Calculated over the trailing 6-month period

13.70%

14.62%

-0.92%

Volatility (1Y)

Calculated over the trailing 1-year period

22.60%

24.55%

-1.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

28.92%

31.68%

-2.76%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.08%

27.68%

-1.60%