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QUU.TO vs. XUU.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QUU.TO vs. XUU.TO

Last updated Jun 5, 2026

QUU.TO (Mackenzie US Large Cap Equity Index ETF) and XUU.TO (iShares Core S&P U.S. Total Market Index ETF) are both Large Cap Blend Equities funds - QUU.TO tracks the Solactive US Large Cap CAD Index while XUU.TO tracks the S&P Total Market Index. Both are passively managed. Over the past 5 years, QUU.TO returned 16.94%/yr vs 15.93%/yr for XUU.TO. Their correlation of 0.82 suggests significant overlap in exposure. Both charge a 0.07% expense ratio.

Performance

QUU.TO vs. XUU.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 U.S. Total Market Index ETF (XUU.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with QUU.TO having a 13.03% return and XUU.TO slightly higher at 13.04%.

QUU.TO

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

XUU.TO

1D
0.49%
1M
6.88%
YTD
13.04%
6M
10.88%
1Y
30.03%
3Y*
23.35%
5Y*
15.93%
10Y*
15.59%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021202020192018
QUU.TO
Mackenzie US Large Cap Equity Index ETF		13.03%13.08%35.77%25.01%-15.10%26.45%18.85%24.81%-1.07%
XUU.TO
iShares Core S&P U.S. Total Market Index ETF		13.04%11.25%34.07%23.11%-13.53%25.93%16.25%23.77%-1.75%

Correlation

The correlation between QUU.TO and XUU.TO is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

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

0.96

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

0.93

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

0.92

Correlation (All Time)
Calculated using the full available price history since Jan 26, 2018

0.82

The correlation between QUU.TO and XUU.TO shifts across timeframes, from 0.82 (all time) to 0.96 (1 year), reflecting how their relationship changes across market environments.

QUU.TO vs. XUU.TO - Sectors Allocation Comparison

Sectors
QUU.TO
XUU.TO

Technology

35.3%
37.3%

Communication Services

11.5%
9.8%

Financial Services

11.5%
11.2%

Consumer Cyclical

10.0%
9.8%

Healthcare

8.8%
8.4%

Industrials

8.6%
8.8%

Consumer Defensive

4.8%
4.4%

Energy

3.6%
3.4%

Utilities

2.3%
2.5%

Basic Materials

1.8%
1.9%

Real Estate

1.8%
2.2%

Technology

QUU.TO
35.3%
XUU.TO
37.3%

Communication Services

QUU.TO
11.5%
XUU.TO
9.8%

Financial Services

QUU.TO
11.5%
XUU.TO
11.2%

Consumer Cyclical

QUU.TO
10.0%
XUU.TO
9.8%

Healthcare

QUU.TO
8.8%
XUU.TO
8.4%

Industrials

QUU.TO
8.6%
XUU.TO
8.8%

Consumer Defensive

QUU.TO
4.8%
XUU.TO
4.4%

Energy

QUU.TO
3.6%
XUU.TO
3.4%

Utilities

QUU.TO
2.3%
XUU.TO
2.5%

Basic Materials

QUU.TO
1.8%
XUU.TO
1.9%

Real Estate

QUU.TO
1.8%
XUU.TO
2.2%

Compare stocks, funds, or ETFs

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Mackenzie US Large Cap Equity Index ETF

iShares Core S&P U.S. Total Market Index ETF

Often compared with QUU.TO:
QUU.TO vs. XEQT.TOQUU.TO vs. VOOQUU.TO vs. VUN.TOQUU.TO vs. VTIQUU.TO vs. XUS.TOQUU.TO vs. ZNQ.TOQUU.TO vs. MSTR
Often compared with XUU.TO:
XUU.TO vs. XUS.TOXUU.TO vs. VUN.TOXUU.TO vs. XAW.TOXUU.TO vs. XUU-U.TOXUU.TO vs. XIC.TOXUU.TO vs. VTIXUU.TO vs. VOO

Return for Risk

QUU.TO vs. XUU.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: 7676
Overall Rank
QUU.TO Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
QUU.TO Sortino Ratio Rank: 7878
Sortino Ratio Rank
QUU.TO Omega Ratio Rank: 7979
Omega Ratio Rank
QUU.TO Calmar Ratio Rank: 7171
Calmar Ratio Rank
QUU.TO Martin Ratio Rank: 7171
Martin Ratio Rank
XUU.TO
XUU.TO Risk / Return Rank: 7575
Overall Rank
XUU.TO Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
XUU.TO Sortino Ratio Rank: 7777
Sortino Ratio Rank
XUU.TO Omega Ratio Rank: 7979
Omega Ratio Rank
XUU.TO Calmar Ratio Rank: 7070
Calmar Ratio Rank
XUU.TO Martin Ratio Rank: 7171
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.

QUU.TO vs. XUU.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 U.S. Total Market Index ETF (XUU.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.TOXUU.TODifference
Sharpe ratioReturn per unit of total volatility
2.53
2.51

+0.02

Sortino ratioReturn per unit of downside risk
3.46
3.41

+0.04

Omega ratioGain probability vs. loss probability

1.46

1.46

0.00

Calmar ratioReturn relative to maximum drawdown

3.51

3.43

+0.08

Martin ratioReturn relative to average drawdown

13.05

13.07

-0.01

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. XUU.TO - Sharpe Ratio Comparison

The current QUU.TO Sharpe Ratio is 2.53, which is comparable to the XUU.TO Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of QUU.TO and XUU.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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Sharpe Ratios by Period

QUU.TOXUU.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.53

2.51

+0.02

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.11

1.04

+0.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.94

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.92

0.87

+0.06

Drawdowns

QUU.TO vs. XUU.TO - Drawdown Comparison

The maximum QUU.TO drawdown since its inception was -26.86%, roughly equal to the maximum XUU.TO drawdown of -28.22%. Use the drawdown chart below to compare losses from any high point for QUU.TO and XUU.TO.

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Drawdown Indicators

QUU.TOXUU.TODifference

Max Drawdown

Largest peak-to-trough decline

-26.86%

-28.22%

+1.36%

Max Drawdown (1Y)

Largest decline over 1 year

-8.81%

-8.80%

-0.01%

Max Drawdown (3Y)

Largest decline over 3 years

-19.23%

-19.70%

+0.47%

Max Drawdown (5Y)

Largest decline over 5 years

-24.00%

-23.41%

-0.59%

Max Drawdown (10Y)

Largest decline over 10 years

—

-28.22%

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-4.42%

-4.09%

-0.33%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.36%

2.30%

+0.06%

Volatility

QUU.TO vs. XUU.TO - Volatility Comparison

Mackenzie US Large Cap Equity Index ETF (QUU.TO) has a higher volatility of 3.73% compared to iShares Core S&P U.S. Total Market Index ETF (XUU.TO) at 3.23%. This indicates that QUU.TO's price experiences larger fluctuations and is considered to be riskier than XUU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QUU.TOXUU.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.73%

3.23%

+0.50%

Volatility (6M)

Calculated over the trailing 6-month period

9.22%

9.09%

+0.13%

Volatility (1Y)

Calculated over the trailing 1-year period

12.23%

12.04%

+0.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.30%

15.45%

-0.15%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.29%

16.59%

+0.70%

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

Both QUU.TO and XUU.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. XUU.TO - Dividend Comparison

QUU.TO's dividend yield for the trailing twelve months is around 0.88%, less than XUU.TO's 1.01% yield.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%0.00%0.00%
XUU.TO
iShares Core S&P U.S. Total Market Index ETF		1.01%1.16%1.02%1.22%1.38%1.01%1.33%1.68%1.73%1.49%1.65%1.52%

Frequently Asked Questions

With a correlation of 0.96, QUU.TO and XUU.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

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

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

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

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