MCAD.TO vs. XIC.TO

Last updated Aug 4, 2026

MCAD.TO (Evolve Premium Cash Management ETF) and XIC.TO (iShares Core S&P/TSX Capped Composite Index ETF) are both funds - MCAD.TO is a Short-Term Bond fund actively managed by Evolve, while XIC.TO is a Canada Equities fund tracking the S&P/TSX Capped Composite Index. MCAD.TO is actively managed, while XIC.TO is passively managed. Over the past year, MCAD.TO returned 2.36% vs 33.33% for XIC.TO. Their -0.02 correlation means they have often moved in opposite directions in the past. MCAD.TO charges 0.20%/yr vs 0.06%/yr for XIC.TO.

Performance

MCAD.TO vs. XIC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Premium Cash Management ETF (MCAD.TO) and iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MCAD.TO achieves a 1.30% return, which is significantly lower than XIC.TO's 12.55% return.

MCAD.TO

• 1D: -0.01%
• 1M: 0.16%
• 6M: 1.11%
• YTD: 1.30%
• 1Y: 2.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.48%

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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MCAD.TO Evolve Premium Cash Management ETF	CA$58.08K	CA$47.33K	CA$82.93K
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF	CA$23.72M	CA$28.51M	CA$27.00M

MCAD.TO vs. XIC.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MCAD.TO Evolve Premium Cash Management ETF	1.30%	2.85%	4.88%	-0.01%
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF	12.55%	31.51%	21.48%	-0.12%

Correlation

The correlation between MCAD.TO and XIC.TO is 0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.05
Correlation (All Time) Calculated using the full available price history since Dec 28, 2023	-0.02

Return for Risk

MCAD.TO vs. XIC.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MCAD.TO

MCAD.TO Risk / Return Rank: 100
MCAD.TO Sharpe Ratio Rank: 100
MCAD.TO Sortino Ratio Rank: 99
MCAD.TO Omega Ratio Rank: 100
MCAD.TO Calmar Ratio Rank: 99
MCAD.TO Martin Ratio Rank: 100

XIC.TO

XIC.TO Risk / Return Rank: 90
XIC.TO Sharpe Ratio Rank: 92
XIC.TO Sortino Ratio Rank: 89
XIC.TO Omega Ratio Rank: 90
XIC.TO Calmar Ratio Rank: 87
XIC.TO Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MCAD.TO vs. XIC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Premium Cash Management ETF (MCAD.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.

	MCAD.TO	XIC.TO	Difference
Sharpe ratio: Return per unit of total volatility	5.93	2.42	+3.52
Sortino ratio: Return per unit of downside risk	9.19	3.13	+6.06
Omega ratio: Gain probability vs. loss probability	4.84	1.42	+3.42
Calmar ratio: Return relative to maximum drawdown	14.99	3.47	+11.52
Martin ratio: Return relative to average drawdown	83.88	15.70	+68.18

MCAD.TO vs. XIC.TO - Sharpe Ratio Comparison

The current MCAD.TO Sharpe Ratio is 5.93, which is higher than the XIC.TO Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of MCAD.TO and XIC.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.

Drawdowns

MCAD.TO vs. XIC.TO - Drawdown Comparison

The maximum MCAD.TO drawdown since its inception was -0.43%, smaller than the maximum XIC.TO drawdown of -47.27%. Use the drawdown chart below to compare losses from any high point for MCAD.TO and XIC.TO.

Drawdown Indicators

	MCAD.TO	XIC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-0.43%	-47.27%	+46.84%
Max Drawdown (1Y) Largest decline over 1 year	-0.16%	-9.29%	+9.13%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.27%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.24%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.21%	—
Current Drawdown Current decline from peak	-0.01%	-1.56%	+1.55%
Average Drawdown Average peak-to-trough decline	-0.02%	-6.72%	+6.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	2.05%	-2.02%

Volatility

MCAD.TO vs. XIC.TO - Volatility Comparison

The current volatility for Evolve Premium Cash Management ETF (MCAD.TO) is 0.04%, while iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) has a volatility of 3.10%. This indicates that MCAD.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.

Volatility by Period

	MCAD.TO	XIC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.04%	3.10%	-3.06%
Volatility (6M) Calculated over the trailing 6-month period	0.26%	10.35%	-10.09%
Volatility (1Y) Calculated over the trailing 1-year period	0.40%	13.34%	-12.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.64%	13.23%	-12.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.64%	14.96%	-14.32%

MCAD.TO vs. XIC.TO - Expense Ratio Comparison

MCAD.TO has a 0.20% 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

MCAD.TO vs. XIC.TO - Dividend Comparison

MCAD.TO's dividend yield for the trailing twelve months is around 2.37%, more than XIC.TO's 2.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MCAD.TO Evolve Premium Cash Management ETF	2.37%	2.83%	4.78%	0.41%	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

Can I hold both MCAD.TO and XIC.TO in my portfolio?

MCAD.TO and XIC.TO have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.