ICAE.TO vs. XIC.TO
ICAE.TO (Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF) and XIC.TO (iShares Core S&P/TSX Capped Composite Index ETF) are both exchange-traded funds - ICAE.TO is a Dividend fund tracking the S&P/TSX Canadian Dividend Aristocrats ESG Index, while XIC.TO is a Canada Equities fund tracking the S&P/TSX Capped Composite Index. Both are passively managed. Over the past 3 years, ICAE.TO returned 15.95%/yr vs 23.01%/yr for XIC.TO. Their 0.32 correlation means their historical movements had little consistent relationship. ICAE.TO charges 0.23%/yr vs 0.06%/yr for XIC.TO.
Performance
ICAE.TO vs. XIC.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ICAE.TO achieves a 18.85% return, which is significantly higher than XIC.TO's 12.55% return.
ICAE.TO
- 1D
- 0.25%
- 1M
- 2.32%
- 6M
- 17.35%
- YTD
- 18.85%
- 1Y
- 18.52%
- 3Y*
- 15.95%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.49%
XIC.TO
- 1D
- -0.76%
- 1M
- 0.04%
- 6M
- 10.65%
- YTD
- 12.55%
- 1Y
- 33.33%
- 3Y*
- 23.01%
- 5Y*
- 14.56%
- 10Y*
- 12.41%
- ALL TIME*
- 9.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$1.16K | CA$2.33K | CA$4.66K | |
| CA$23.72M | CA$28.51M | CA$27.00M |
ICAE.TO vs. XIC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ICAE.TO Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF | 18.85% | 10.02% | 17.62% | 5.84% |
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF | 12.55% | 31.51% | 21.48% | 8.91% |
Correlation
The correlation between ICAE.TO and XIC.TO is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (All Time) Calculated using the full available price history since Mar 13, 2023 | 0.32 |
ICAE.TO vs. XIC.TO - Sectors Allocation Comparison
Sectors
ICAE.TO
XIC.TO
Financial Services
Energy
Industrials
Basic Materials
Consumer Defensive
Consumer Cyclical
Utilities
Communication Services
Technology
Real Estate
Healthcare
-
Financial Services
ICAE.TO
XIC.TO
Energy
ICAE.TO
XIC.TO
Industrials
ICAE.TO
XIC.TO
Basic Materials
ICAE.TO
XIC.TO
Consumer Defensive
ICAE.TO
XIC.TO
Consumer Cyclical
ICAE.TO
XIC.TO
Utilities
ICAE.TO
XIC.TO
Communication Services
ICAE.TO
XIC.TO
Technology
ICAE.TO
XIC.TO
Real Estate
ICAE.TO
XIC.TO
Healthcare
ICAE.TO
-
XIC.TO
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Return for Risk
ICAE.TO vs. XIC.TO — Risk / Return Rank
ICAE.TO
XIC.TO
ICAE.TO vs. XIC.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 S&P/TSX Capped Composite Index ETF (XIC.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 | XIC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.50 | ||
| Sortino ratioReturn per unit of downside risk | -1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.42 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 3.47 | -2.37 |
| Martin ratioReturn relative to average drawdown | 2.21 | 15.70 | -13.49 |
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Drawdowns
ICAE.TO vs. XIC.TO - Drawdown Comparison
The maximum ICAE.TO drawdown since its inception was -16.49%, smaller than the maximum XIC.TO drawdown of -47.27%. Use the drawdown chart below to compare losses from any high point for ICAE.TO and XIC.TO.
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Drawdown Indicators
| ICAE.TO | XIC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.49% | -47.27% | +30.78% |
Max Drawdown (1Y)Largest decline over 1 year | -16.49% | -9.29% | -7.20% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -12.27% | -4.22% |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.24% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.21% | — |
Current DrawdownCurrent decline from peak | -1.02% | -1.56% | +0.54% |
Average DrawdownAverage peak-to-trough decline | -3.48% | -6.72% | +3.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.23% | 2.05% | +6.18% |
Volatility
ICAE.TO vs. XIC.TO - Volatility Comparison
The current volatility for Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF (ICAE.TO) is 2.78%, while iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) has a volatility of 3.10%. This indicates that ICAE.TO experiences smaller price fluctuations and is considered to be less risky than XIC.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 | XIC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.78% | 3.10% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 8.14% | 10.35% | -2.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.82% | 13.34% | +6.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.90% | 13.23% | +2.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.90% | 14.96% | +0.94% |
ICAE.TO vs. XIC.TO - Expense Ratio Comparison
ICAE.TO has a 0.23% expense ratio, which is higher than XIC.TO's 0.06% 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. XIC.TO - Dividend Comparison
ICAE.TO's dividend yield for the trailing twelve months is around 2.71%, more than XIC.TO's 2.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICAE.TO Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF | 2.71% | 3.29% | 3.33% | 2.87% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF | 2.00% | 2.23% | 2.64% | 2.96% | 3.10% | 2.45% | 3.03% | 3.01% | 3.19% | 2.49% | 2.72% | 3.21% |
Frequently Asked Questions
ICAE.TO and XIC.TO have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XIC.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XIC.TO is cheaper with a 0.06% expense ratio, compared with 0.23% for ICAE.TO.
ICAE.TO is categorized as Dividend, while XIC.TO is Canada Equities. ICAE.TO tracks S&P/TSX Canadian Dividend Aristocrats ESG Index, while XIC.TO tracks S&P/TSX Capped Composite Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.23% for ICAE.TO and 0.06% for XIC.TO.
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