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MA vs. XMA.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MA vs. XMA.TO

Last updated Jun 13, 2026

MA (Mastercard Incorporated) is a stock, while XMA.TO (iShares S&P/TSX Capped Materials Index ETF) is Materials fund tracking the S&P/TSX Capped Materials TR. Over the past 10 years, MA returned 18.64%/yr vs 12.52%/yr for XMA.TO. At a 0.19 correlation, their price movements are largely independent.

Performance

MA vs. XMA.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Mastercard Incorporated (MA) and iShares S&P/TSX Capped Materials Index ETF (XMA.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, MA achieves a -13.89% return, which is significantly lower than XMA.TO's -0.05% return. Over the past 10 years, MA has outperformed XMA.TO with an annualized return of 18.64%, while XMA.TO has yielded a comparatively lower 12.52% annualized return.

MA

1D
0.71%
1M
-0.85%
YTD
-13.89%
6M
-14.05%
1Y
-12.30%
3Y*
10.32%
5Y*
6.66%
10Y*
18.64%

XMA.TO

1D
2.84%
1M
-6.22%
YTD
-0.05%
6M
1.92%
1Y
49.51%
3Y*
31.32%
5Y*
15.40%
10Y*
12.52%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MA vs. XMA.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MA
Mastercard Incorporated		-13.89%9.04%24.17%23.40%-2.66%1.16%20.19%59.16%25.31%47.69%
XMA.TO
iShares S&P/TSX Capped Materials Index ETF		-0.05%108.74%11.29%0.35%-4.69%3.37%22.64%30.00%-17.38%14.90%

Correlation

The correlation between MA and XMA.TO is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

-0.02

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

0.06

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

0.14

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

0.15

Correlation (All Time)
Calculated using the full available price history since Jul 12, 2006

0.19

The correlation between MA and XMA.TO shifts across timeframes, from -0.02 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.

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Mastercard Incorporated

iShares S&P/TSX Capped Materials Index ETF

Often compared with MA:
MA vs. VMA vs. AXPMA vs. SPYMA vs. MSFTMA vs. MCDMA vs. BRK-BMA vs. COST
Often compared with XMA.TO:
XMA.TO vs. XGD.TOXMA.TO vs. XETM.TOXMA.TO vs. XIC.TOXMA.TO vs. ZUT.TOXMA.TO vs. XIT.TOXMA.TO vs. XEQT.TOXMA.TO vs. XBM.TO

Return for Risk

MA vs. XMA.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MA
MA Risk / Return Rank: 1111
Overall Rank
MA Sharpe Ratio Rank: 1212
Sharpe Ratio Rank
MA Sortino Ratio Rank: 1414
Sortino Ratio Rank
MA Omega Ratio Rank: 1414
Omega Ratio Rank
MA Calmar Ratio Rank: 1313
Calmar Ratio Rank
MA Martin Ratio Rank: 55
Martin Ratio Rank
XMA.TO
XMA.TO Risk / Return Rank: 4444
Overall Rank
XMA.TO Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
XMA.TO Sortino Ratio Rank: 3939
Sortino Ratio Rank
XMA.TO Omega Ratio Rank: 4747
Omega Ratio Rank
XMA.TO Calmar Ratio Rank: 4545
Calmar Ratio Rank
XMA.TO Martin Ratio Rank: 3838
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.

MA vs. XMA.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mastercard Incorporated (MA) and iShares S&P/TSX Capped Materials Index ETF (XMA.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.

MAXMA.TODifference
Sharpe ratioReturn per unit of total volatility
-0.74
1.35

-2.09

Sortino ratioReturn per unit of downside risk
-0.91
1.74

-2.65

Omega ratioGain probability vs. loss probability

0.89

1.25

-0.36

Calmar ratioReturn relative to maximum drawdown

-0.79

1.76

-2.55

Martin ratioReturn relative to average drawdown

-1.59

4.94

-6.53

MA vs. XMA.TO - Sharpe Ratio Comparison

The current MA Sharpe Ratio is -0.74, which is lower than the XMA.TO Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of MA and XMA.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

MA vs. XMA.TO - Drawdown Comparison

The maximum MA drawdown since its inception was -62.67%, smaller than the maximum XMA.TO drawdown of -76.39%. Use the drawdown chart below to compare losses from any high point for MA and XMA.TO.

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Drawdown Indicators

MAXMA.TODifference

Max Drawdown

Largest peak-to-trough decline

-62.67%

-76.39%

+13.72%

Max Drawdown (1Y)

Largest decline over 1 year

-20.91%

-29.93%

+9.02%

Max Drawdown (3Y)

Largest decline over 3 years

-20.91%

-29.93%

+9.02%

Max Drawdown (5Y)

Largest decline over 5 years

-28.25%

-37.18%

+8.93%

Max Drawdown (10Y)

Largest decline over 10 years

-41.00%

-37.18%

-3.82%

Current Drawdown

Current decline from peak

-17.82%

-24.63%

+6.81%

Average Drawdown

Average peak-to-trough decline

-9.82%

-37.72%

+27.90%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.48%

10.66%

-0.18%

Volatility

MA vs. XMA.TO - Volatility Comparison

The current volatility for Mastercard Incorporated (MA) is 6.46%, while iShares S&P/TSX Capped Materials Index ETF (XMA.TO) has a volatility of 15.40%. This indicates that MA experiences smaller price fluctuations and is considered to be less risky than XMA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MAXMA.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.46%

15.40%

-8.94%

Volatility (6M)

Calculated over the trailing 6-month period

17.51%

32.78%

-15.27%

Volatility (1Y)

Calculated over the trailing 1-year period

22.34%

38.99%

-16.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

24.01%

28.82%

-4.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.92%

27.56%

-0.64%

Dividends

MA vs. XMA.TO - Dividend Comparison

MA's dividend yield for the trailing twelve months is around 0.67%, more than XMA.TO's 0.39% yield.

PositionTTM20252024202320222021202020192018201720162015
MA
Mastercard Incorporated		0.67%0.53%0.50%0.53%0.56%0.49%0.45%0.44%0.53%0.58%0.74%0.66%
XMA.TO
iShares S&P/TSX Capped Materials Index ETF		0.39%0.41%0.83%1.26%1.24%0.87%0.63%0.64%0.75%0.47%0.82%1.87%

Frequently Asked Questions

MA and XMA.TO have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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