QUU.TO vs. XTOT.TO

Last updated Jun 5, 2026

QUU.TO (Mackenzie US Large Cap Equity Index ETF) and XTOT.TO (iShares Core S&P Total U.S. Stock Market Index ETF) are both Large Cap Blend Equities funds - QUU.TO tracks the Solactive US Large Cap CAD Index while XTOT.TO tracks the S&P Total Market Index. Both are passively managed. Over the past year, QUU.TO returned 30.75% vs 31.34% for XTOT.TO. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.07% expense ratio.

Performance

QUU.TO vs. XTOT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Mackenzie US Large Cap Equity Index ETF (QUU.TO) and iShares Core S&P Total U.S. Stock Market Index ETF (XTOT.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with QUU.TO having a 13.03% return and XTOT.TO slightly higher at 13.09%.

QUU.TO

• 1D: 0.43%
• 1M: 6.93%
• YTD: 13.03%
• 6M: 11.12%
• 1Y: 30.75%
• 3Y*: 24.45%
• 5Y*: 16.94%
• 10Y*: —

XTOT.TO

• 1D: 0.40%
• 1M: 6.78%
• YTD: 13.09%
• 6M: 10.97%
• 1Y: 31.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QUU.TO vs. XTOT.TO - Yearly Performance Comparison

	2026 (YTD)	2025
QUU.TO Mackenzie US Large Cap Equity Index ETF	13.03%	16.01%
XTOT.TO iShares Core S&P Total U.S. Stock Market Index ETF	13.09%	15.99%

Correlation

The correlation between QUU.TO and XTOT.TO is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (All Time) Calculated using the full available price history since May 29, 2025	0.88

The correlation between QUU.TO and XTOT.TO has been stable across timeframes, ranging from 0.88 to 0.88 - a consistent structural relationship.

Return for Risk

QUU.TO vs. XTOT.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QUU.TO

QUU.TO Risk / Return Rank: 76
QUU.TO Sharpe Ratio Rank: 79
QUU.TO Sortino Ratio Rank: 78
QUU.TO Omega Ratio Rank: 79
QUU.TO Calmar Ratio Rank: 71
QUU.TO Martin Ratio Rank: 71

XTOT.TO

XTOT.TO Risk / Return Rank: 71
XTOT.TO Sharpe Ratio Rank: 75
XTOT.TO Sortino Ratio Rank: 73
XTOT.TO Omega Ratio Rank: 76
XTOT.TO Calmar Ratio Rank: 67
XTOT.TO Martin Ratio Rank: 63

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.

QUU.TO vs. XTOT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mackenzie US Large Cap Equity Index ETF (QUU.TO) and iShares Core S&P Total U.S. Stock Market Index ETF (XTOT.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.

	QUU.TO	XTOT.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.53	2.39	+0.14
Sortino ratio: Return per unit of downside risk	3.46	3.26	+0.20
Omega ratio: Gain probability vs. loss probability	1.46	1.45	+0.02
Calmar ratio: Return relative to maximum drawdown	3.51	3.27	+0.24
Martin ratio: Return relative to average drawdown	13.05	11.17	+1.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QUU.TO vs. XTOT.TO - Sharpe Ratio Comparison

The current QUU.TO Sharpe Ratio is 2.53, which is comparable to the XTOT.TO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of QUU.TO and XTOT.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.

Sharpe Ratios by Period

	QUU.TO	XTOT.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	2.39	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.11	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	2.34	-1.42

Drawdowns

QUU.TO vs. XTOT.TO - Drawdown Comparison

The maximum QUU.TO drawdown since its inception was -26.86%, which is greater than XTOT.TO's maximum drawdown of -9.64%. Use the drawdown chart below to compare losses from any high point for QUU.TO and XTOT.TO.

Drawdown Indicators

	QUU.TO	XTOT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-26.86%	-9.64%	-17.22%
Max Drawdown (1Y) Largest decline over 1 year	-8.81%	-9.64%	+0.83%
Max Drawdown (3Y) Largest decline over 3 years	-19.23%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.00%	—	—
Current Drawdown Current decline from peak	0.00%	-0.13%	+0.13%
Average Drawdown Average peak-to-trough decline	-4.42%	-1.82%	-2.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.36%	2.81%	-0.45%

Volatility

QUU.TO vs. XTOT.TO - Volatility Comparison

The current volatility for Mackenzie US Large Cap Equity Index ETF (QUU.TO) is 3.73%, while iShares Core S&P Total U.S. Stock Market Index ETF (XTOT.TO) has a volatility of 4.37%. This indicates that QUU.TO experiences smaller price fluctuations and is considered to be less risky than XTOT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QUU.TO	XTOT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	4.37%	-0.64%
Volatility (6M) Calculated over the trailing 6-month period	9.22%	9.77%	-0.55%
Volatility (1Y) Calculated over the trailing 1-year period	12.23%	13.20%	-0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.30%	13.12%	+2.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.29%	13.12%	+4.17%

QUU.TO vs. XTOT.TO - Expense Ratio Comparison

Both QUU.TO and XTOT.TO have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

QUU.TO vs. XTOT.TO - Dividend Comparison

QUU.TO's dividend yield for the trailing twelve months is around 0.88%, more than XTOT.TO's 0.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
QUU.TO Mackenzie US Large Cap Equity Index ETF	0.88%	0.97%	1.00%	1.21%	1.59%	0.98%	1.34%	1.59%	1.55%
XTOT.TO iShares Core S&P Total U.S. Stock Market Index ETF	0.61%	0.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QUU.TO and XTOT.TO in my portfolio?

QUU.TO and XTOT.TO have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QUU.TO or XTOT.TO?

Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QUU.TO or XTOT.TO?

QUU.TO and XTOT.TO have the same expense ratio: 0.07% per year.

What is the main difference between QUU.TO and XTOT.TO?

QUU.TO tracks Solactive US Large Cap CAD Index, while XTOT.TO tracks S&P Total Market Index. They also come from different issuers: Mackenzie and iShares.