RAAX vs. XSP.TO
RAAX (VanEck Inflation Allocation ETF) and XSP.TO (iShares Core S&P 500 Index ETF (CAD-Hedged)) are both exchange-traded funds - RAAX is a Diversified Portfolio fund actively managed by VanEck, while XSP.TO is a S&P 500 fund tracking the S&P 500 Index. RAAX is actively managed, while XSP.TO is passively managed. Over the past 5 years, RAAX returned 13.17%/yr vs 7.90%/yr for XSP.TO. At a 0.45 correlation, their price movements are largely independent. RAAX charges 0.78%/yr vs 0.09%/yr for XSP.TO.
Performance
RAAX vs. XSP.TO - Performance Comparison
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Different Trading Currencies
RAAX is traded in USD, while XSP.TO is traded in CAD. To make them comparable, the XSP.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, RAAX achieves a 17.64% return, which is significantly higher than XSP.TO's 5.60% return.
RAAX
- 1D
- 2.26%
- 1M
- -3.39%
- YTD
- 17.64%
- 6M
- 17.56%
- 1Y
- 32.08%
- 3Y*
- 21.35%
- 5Y*
- 13.17%
- 10Y*
- —
XSP.TO
- 1D
- 0.31%
- 1M
- -2.90%
- YTD
- 5.60%
- 6M
- 6.46%
- 1Y
- 19.70%
- 3Y*
- 17.06%
- 5Y*
- 7.90%
- 10Y*
- 12.43%
RAAX vs. XSP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
RAAX VanEck Inflation Allocation ETF | 17.64% | 26.74% | 12.50% | 6.71% | 1.51% | 21.56% | -8.27% | 6.14% | -2.41% |
XSP.TO iShares Core S&P 500 Index ETF (CAD-Hedged) | 5.60% | 21.22% | 13.76% | 27.36% | -24.13% | 24.33% | 17.96% | 34.93% | -9.83% |
Correlation
The correlation between RAAX and XSP.TO is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2018 | 0.45 |
The correlation between RAAX and XSP.TO shifts across timeframes, from 0.29 (1 year) to 0.46 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
RAAX vs. XSP.TO — Risk / Return Rank
RAAX
XSP.TO
RAAX vs. XSP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Inflation Allocation ETF (RAAX) and iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.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.
| RAAX | XSP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.25 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 4.68 | 1.63 | +3.05 |
| Martin ratioReturn relative to average drawdown | 16.90 | 6.95 | +9.95 |
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Drawdowns
RAAX vs. XSP.TO - Drawdown Comparison
The maximum RAAX drawdown since its inception was -33.91%, smaller than the maximum XSP.TO drawdown of -69.22%. Use the drawdown chart below to compare losses from any high point for RAAX and XSP.TO.
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Drawdown Indicators
| RAAX | XSP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.91% | -69.22% | +35.31% |
Max Drawdown (1Y)Largest decline over 1 year | -7.17% | -11.63% | +4.46% |
Max Drawdown (3Y)Largest decline over 3 years | -11.59% | -19.45% | +7.86% |
Max Drawdown (5Y)Largest decline over 5 years | -23.55% | -33.34% | +9.79% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.38% | — |
Current DrawdownCurrent decline from peak | -3.77% | -3.55% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -6.77% | -13.14% | +6.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 2.72% | -0.74% |
Volatility
RAAX vs. XSP.TO - Volatility Comparison
VanEck Inflation Allocation ETF (RAAX) and iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) have volatilities of 4.67% and 4.62%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RAAX | XSP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.67% | 4.62% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 12.21% | 10.33% | +1.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.18% | 13.32% | +0.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.70% | 18.01% | -2.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.79% | 19.50% | -3.71% |
RAAX vs. XSP.TO - Expense Ratio Comparison
RAAX has a 0.78% expense ratio, which is higher than XSP.TO's 0.09% expense ratio.
Dividends
RAAX vs. XSP.TO - Dividend Comparison
RAAX's dividend yield for the trailing twelve months is around 1.99%, more than XSP.TO's 1.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RAAX VanEck Inflation Allocation ETF | 1.99% | 2.34% | 1.91% | 3.66% | 1.53% | 8.72% | 6.27% | 2.37% | 0.56% | 0.00% | 0.00% | 0.00% |
XSP.TO iShares Core S&P 500 Index ETF (CAD-Hedged) | 1.14% | 1.23% | 1.09% | 1.18% | 1.37% | 1.01% | 1.31% | 1.73% | 1.86% | 1.45% | 1.76% | 1.88% |
Frequently Asked Questions
RAAX and XSP.TO have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XSP.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSP.TO is cheaper with a 0.09% expense ratio, compared with 0.78% for RAAX.
RAAX is categorized as Diversified Portfolio, while XSP.TO is S&P 500. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.78% for RAAX and 0.09% for XSP.TO.
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