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IAG.TO vs. XSP.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IAG.TO vs. XSP.TO

Last updated Jul 21, 2026
Documentation

IAG.TO (iA Financial Corporation Inc.) is a stock, while XSP.TO (iShares Core S&P 500 Index ETF (CAD-Hedged)) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, IAG.TO returned 20.80%/yr vs 12.86%/yr for XSP.TO. At a 0.39 correlation, their price movements are largely independent.

Performance

IAG.TO vs. XSP.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iA Financial Corporation Inc. (IAG.TO) and iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.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, IAG.TO achieves a 16.94% return, which is significantly higher than XSP.TO's 7.84% return. Over the past 10 years, IAG.TO has outperformed XSP.TO with an annualized return of 20.80%, while XSP.TO has yielded a comparatively lower 12.86% annualized return.

IAG.TO

1D
-1.39%
1M
8.42%
6M
18.92%
YTD
16.94%
1Y
45.35%
3Y*
33.88%
5Y*
29.26%
10Y*
20.80%
ALL TIME*
12.95%

XSP.TO

1D
-0.25%
1M
-0.76%
6M
6.82%
YTD
7.84%
1Y
16.89%
3Y*
17.36%
5Y*
10.48%
10Y*
12.86%
ALL TIME*
9.40%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IAG.TO vs. XSP.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IAG.TO
iA Financial Corporation Inc.		16.94%36.86%52.61%17.93%13.64%35.04%-19.68%68.97%-24.93%14.97%
XSP.TO
iShares Core S&P 500 Index ETF (CAD-Hedged)		7.84%15.68%23.39%24.33%-19.32%24.27%15.16%29.37%-6.25%20.69%

Correlation

The correlation between IAG.TO and XSP.TO is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.38

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

0.40

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

0.41

Correlation (10Y)
Calculated over the trailing 10-year period

0.40

Correlation (All Time)
Calculated using the full available price history since Aug 17, 2006

0.39

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iA Financial Corporation Inc.

iShares Core S&P 500 Index ETF (CAD-Hedged)

Often compared with IAG.TO:
IAG.TO vs. IFC.TOIAG.TO vs. MFC.TOIAG.TO vs. TEC.TOIAG.TO vs. GWO.TOIAG.TO vs. DOL.TOIAG.TO vs. RY.TOIAG.TO vs. VFV.TO
Often compared with XSP.TO:
XSP.TO vs. XUS.TOXSP.TO vs. XEQT.TOXSP.TO vs. ZSP.TOXSP.TO vs. VSP.TOXSP.TO vs. XIU.TOXSP.TO vs. XQQ.TOXSP.TO vs. VFVA

Return for Risk

IAG.TO vs. XSP.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IAG.TO
IAG.TO Risk / Return Rank: 8686
Overall Rank
IAG.TO Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
IAG.TO Sortino Ratio Rank: 8282
Sortino Ratio Rank
IAG.TO Omega Ratio Rank: 9090
Omega Ratio Rank
IAG.TO Calmar Ratio Rank: 8282
Calmar Ratio Rank
IAG.TO Martin Ratio Rank: 8585
Martin Ratio Rank
XSP.TO
XSP.TO Risk / Return Rank: 5252
Overall Rank
XSP.TO Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
XSP.TO Sortino Ratio Rank: 5050
Sortino Ratio Rank
XSP.TO Omega Ratio Rank: 5151
Omega Ratio Rank
XSP.TO Calmar Ratio Rank: 4747
Calmar Ratio Rank
XSP.TO Martin Ratio Rank: 6060
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.

IAG.TO vs. XSP.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iA Financial Corporation Inc. (IAG.TO) and iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.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.

IAG.TOXSP.TODifference
Sharpe ratioReturn per unit of total volatility
1.89
1.36

+0.53

Sortino ratioReturn per unit of downside risk
2.15
1.91

+0.24

Omega ratioGain probability vs. loss probability

1.37

1.24

+0.12

Calmar ratioReturn relative to maximum drawdown

2.38

1.80

+0.58

Martin ratioReturn relative to average drawdown

6.80

7.77

-0.98

IAG.TO vs. XSP.TO - Sharpe Ratio Comparison

The current IAG.TO Sharpe Ratio is 1.89, which is higher than the XSP.TO Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of IAG.TO and XSP.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

IAG.TO vs. XSP.TO - Drawdown Comparison

The maximum IAG.TO drawdown since its inception was -66.37%, which is greater than XSP.TO's maximum drawdown of -57.71%. Use the drawdown chart below to compare losses from any high point for IAG.TO and XSP.TO.

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Drawdown Indicators

IAG.TOXSP.TODifference

Max Drawdown

Largest peak-to-trough decline

-66.37%

-57.71%

-8.66%

Max Drawdown (1Y)

Largest decline over 1 year

-19.13%

-9.41%

-9.72%

Max Drawdown (3Y)

Largest decline over 3 years

-19.13%

-18.77%

-0.36%

Max Drawdown (5Y)

Largest decline over 5 years

-28.99%

-27.51%

-1.48%

Max Drawdown (10Y)

Largest decline over 10 years

-58.56%

-36.05%

-22.51%

Current Drawdown

Current decline from peak

-2.50%

-2.36%

-0.14%

Average Drawdown

Average peak-to-trough decline

-12.58%

-9.47%

-3.11%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.69%

2.18%

+4.51%

Volatility

IAG.TO vs. XSP.TO - Volatility Comparison

iA Financial Corporation Inc. (IAG.TO) has a higher volatility of 5.10% compared to iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) at 2.98%. This indicates that IAG.TO's price experiences larger fluctuations and is considered to be riskier than XSP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IAG.TOXSP.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.10%

2.98%

+2.12%

Volatility (6M)

Calculated over the trailing 6-month period

20.24%

10.03%

+10.21%

Volatility (1Y)

Calculated over the trailing 1-year period

24.20%

12.51%

+11.69%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

24.40%

16.88%

+7.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.80%

18.21%

+8.59%

Dividends

IAG.TO vs. XSP.TO - Dividend Comparison

IAG.TO's dividend yield for the trailing twelve months is around 1.98%, more than XSP.TO's 1.15% yield.

PositionTTM20252024202320222021202020192018201720162015
IAG.TO
iA Financial Corporation Inc.		1.98%2.13%2.52%3.29%3.28%2.87%3.52%2.47%3.65%2.39%2.36%2.63%
XSP.TO
iShares Core S&P 500 Index ETF (CAD-Hedged)		1.15%1.23%1.09%1.18%1.37%1.01%1.31%1.73%1.86%1.45%1.76%1.88%

Frequently Asked Questions

IAG.TO and XSP.TO have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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