ICAE.TO vs. XDUH.TO
ICAE.TO (Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF) and XDUH.TO (iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged)) are both exchange-traded funds - ICAE.TO is a Dividend fund tracking the S&P/TSX Canadian Dividend Aristocrats ESG Index, while XDUH.TO is a Large Cap Value Equities fund tracking the Morningstar US Market TR CAD. Both are passively managed. Over the past 3 years, ICAE.TO returned 16.01%/yr vs 11.76%/yr for XDUH.TO. At a 0.25 correlation, their price movements are largely independent. ICAE.TO charges 0.23%/yr vs 0.16%/yr for XDUH.TO.
Performance
ICAE.TO vs. XDUH.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ICAE.TO achieves a 16.94% return, which is significantly higher than XDUH.TO's 12.42% return.
ICAE.TO
- 1D
- 0.77%
- 1M
- 4.66%
- 6M
- 16.72%
- YTD
- 16.94%
- 1Y
- 16.60%
- 3Y*
- 16.01%
- 5Y*
- —
- 10Y*
- —
XDUH.TO
- 1D
- 1.58%
- 1M
- 3.21%
- 6M
- 12.58%
- YTD
- 12.42%
- 1Y
- 15.07%
- 3Y*
- 11.76%
- 5Y*
- 7.52%
- 10Y*
- —
ICAE.TO vs. XDUH.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ICAE.TO Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF | 16.94% | 10.02% | 17.62% | 5.84% |
XDUH.TO iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged) | 12.42% | 8.08% | 9.51% | 9.99% |
Correlation
The correlation between ICAE.TO and XDUH.TO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Mar 13, 2023 | 0.25 |
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Return for Risk
ICAE.TO vs. XDUH.TO — Risk / Return Rank
ICAE.TO
XDUH.TO
ICAE.TO vs. XDUH.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF (ICAE.TO) and iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged) (XDUH.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.
| ICAE.TO | XDUH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.24 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.01 | 2.49 | -1.48 |
| Martin ratioReturn relative to average drawdown | 2.02 | 6.60 | -4.58 |
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Drawdowns
ICAE.TO vs. XDUH.TO - Drawdown Comparison
The maximum ICAE.TO drawdown since its inception was -16.49%, smaller than the maximum XDUH.TO drawdown of -34.91%. Use the drawdown chart below to compare losses from any high point for ICAE.TO and XDUH.TO.
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Drawdown Indicators
| ICAE.TO | XDUH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.49% | -34.91% | +18.42% |
Max Drawdown (1Y)Largest decline over 1 year | -16.49% | -6.08% | -10.41% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -14.35% | -2.14% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.33% | — |
Current DrawdownCurrent decline from peak | -2.23% | 0.00% | -2.23% |
Average DrawdownAverage peak-to-trough decline | -3.54% | -4.41% | +0.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.22% | 2.29% | +5.93% |
Volatility
ICAE.TO vs. XDUH.TO - Volatility Comparison
The current volatility for Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF (ICAE.TO) is 2.22%, while iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged) (XDUH.TO) has a volatility of 3.16%. This indicates that ICAE.TO experiences smaller price fluctuations and is considered to be less risky than XDUH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICAE.TO | XDUH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.22% | 3.16% | -0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 7.91% | 7.19% | +0.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.70% | 11.67% | +8.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.03% | 13.58% | +2.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.03% | 16.44% | -0.41% |
ICAE.TO vs. XDUH.TO - Expense Ratio Comparison
ICAE.TO has a 0.23% expense ratio, which is higher than XDUH.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
ICAE.TO vs. XDUH.TO - Dividend Comparison
ICAE.TO's dividend yield for the trailing twelve months is around 2.74%, more than XDUH.TO's 2.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ICAE.TO Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF | 2.74% | 3.29% | 3.33% | 2.87% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XDUH.TO iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged) | 2.22% | 2.46% | 2.67% | 2.55% | 2.40% | 2.62% | 2.67% | 2.36% | 2.75% | 0.76% |
Frequently Asked Questions
ICAE.TO and XDUH.TO have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XDUH.TO is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XDUH.TO is cheaper with a 0.16% expense ratio, compared with 0.23% for ICAE.TO.
ICAE.TO is categorized as Dividend, while XDUH.TO is Large Cap Value Equities. ICAE.TO tracks S&P/TSX Canadian Dividend Aristocrats ESG Index, while XDUH.TO tracks Morningstar US Market TR CAD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.23% for ICAE.TO and 0.16% for XDUH.TO.
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