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T.TO vs. XAW.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

T.TO vs. XAW.TO

Last updated Jul 18, 2026
Documentation

T.TO (TELUS Corporation) is a stock, while XAW.TO (iShares Core MSCI All Country World ex Canada Index ETF) is Global Equities fund tracking the MSCI ACWI ex Canada IMI Index. Over the past 10 years, T.TO returned 10.68%/yr vs 12.82%/yr for XAW.TO. At a 0.30 correlation, their price movements are largely independent.

Performance

T.TO vs. XAW.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TELUS Corporation (T.TO) and iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, T.TO achieves a -15.60% return, which is significantly lower than XAW.TO's 12.81% return. Over the past 10 years, T.TO has underperformed XAW.TO with an annualized return of 10.68%, while XAW.TO has yielded a comparatively higher 12.82% annualized return.

T.TO

1D
-2.02%
1M
-11.70%
6M
-19.09%
YTD
-15.60%
1Y
-29.29%
3Y*
-8.52%
5Y*
-6.45%
10Y*
10.68%

XAW.TO

1D
-1.14%
1M
-1.31%
6M
8.32%
YTD
12.81%
1Y
23.27%
3Y*
19.97%
5Y*
12.87%
10Y*
12.82%
*Multi-year figures are annualized to reflect compound growth (CAGR)

T.TO vs. XAW.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
T.TO
TELUS Corporation		-15.60%0.34%-11.50%-4.41%-8.27%23.58%113.11%21.76%3.92%21.55%
XAW.TO
iShares Core MSCI All Country World ex Canada Index ETF		12.81%15.87%26.31%18.45%-11.83%18.39%12.37%19.82%-2.29%16.12%

Correlation

The correlation between T.TO and XAW.TO is 0.04, 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

0.04

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

0.09

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

0.20

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

0.29

Correlation (All Time)
Calculated using the full available price history since Feb 17, 2015

0.30

Over the past year, the correlation between T.TO and XAW.TO has dropped to 0.04 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

TELUS Corporation

iShares Core MSCI All Country World ex Canada Index ETF

Often compared with T.TO:
T.TO vs. BCE.TOT.TO vs. TUT.TO vs. FTS.TOT.TO vs. RCI-B.TOT.TO vs. BTO.TOT.TO vs. BCET.TO vs. VDY.TO
Often compared with XAW.TO:
XAW.TO vs. XEQT.TOXAW.TO vs. VXC.TOXAW.TO vs. VEQT.TOXAW.TO vs. XUU.TOXAW.TO vs. XIC.TOXAW.TO vs. XGRO.TOXAW.TO vs. VT

Return for Risk

T.TO vs. XAW.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
T.TO
T.TO Risk / Return Rank: 22
Overall Rank
T.TO Sharpe Ratio Rank: 00
Sharpe Ratio Rank
T.TO Sortino Ratio Rank: 22
Sortino Ratio Rank
T.TO Omega Ratio Rank: 22
Omega Ratio Rank
T.TO Calmar Ratio Rank: 55
Calmar Ratio Rank
T.TO Martin Ratio Rank: 22
Martin Ratio Rank
XAW.TO
XAW.TO Risk / Return Rank: 7171
Overall Rank
XAW.TO Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
XAW.TO Sortino Ratio Rank: 6868
Sortino Ratio Rank
XAW.TO Omega Ratio Rank: 7171
Omega Ratio Rank
XAW.TO Calmar Ratio Rank: 7171
Calmar Ratio Rank
XAW.TO Martin Ratio Rank: 7676
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.

T.TO vs. XAW.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TELUS Corporation (T.TO) and iShares Core MSCI All Country World ex Canada Index ETF (XAW.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.

T.TOXAW.TODifference
Sharpe ratioReturn per unit of total volatility
-1.66
1.77

-3.43

Sortino ratioReturn per unit of downside risk
-2.20
2.50

-4.69

Omega ratioGain probability vs. loss probability

0.71

1.33

-0.62

Calmar ratioReturn relative to maximum drawdown

-0.94

2.87

-3.80

Martin ratioReturn relative to average drawdown

-1.79

11.20

-12.99

T.TO vs. XAW.TO - Sharpe Ratio Comparison

The current T.TO Sharpe Ratio is -1.66, which is lower than the XAW.TO Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of T.TO and XAW.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

T.TO vs. XAW.TO - Drawdown Comparison

The maximum T.TO drawdown since its inception was -44.06%, which is greater than XAW.TO's maximum drawdown of -27.32%. Use the drawdown chart below to compare losses from any high point for T.TO and XAW.TO.

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Drawdown Indicators

T.TOXAW.TODifference

Max Drawdown

Largest peak-to-trough decline

-44.06%

-27.32%

-16.74%

Max Drawdown (1Y)

Largest decline over 1 year

-31.30%

-8.16%

-23.14%

Max Drawdown (3Y)

Largest decline over 3 years

-31.30%

-16.66%

-14.64%

Max Drawdown (5Y)

Largest decline over 5 years

-44.06%

-21.02%

-23.04%

Max Drawdown (10Y)

Largest decline over 10 years

-44.06%

-27.32%

-16.74%

Current Drawdown

Current decline from peak

-43.67%

-3.24%

-40.43%

Average Drawdown

Average peak-to-trough decline

-10.34%

-3.88%

-6.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

16.37%

2.08%

+14.29%

Volatility

T.TO vs. XAW.TO - Volatility Comparison

TELUS Corporation (T.TO) has a higher volatility of 6.50% compared to iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO) at 3.82%. This indicates that T.TO's price experiences larger fluctuations and is considered to be riskier than XAW.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

T.TOXAW.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.50%

3.82%

+2.68%

Volatility (6M)

Calculated over the trailing 6-month period

14.39%

11.08%

+3.31%

Volatility (1Y)

Calculated over the trailing 1-year period

17.75%

13.21%

+4.54%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.69%

13.76%

+2.93%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.61%

15.09%

+18.52%

Dividends

T.TO vs. XAW.TO - Dividend Comparison

T.TO's dividend yield for the trailing twelve months is around 11.48%, more than XAW.TO's 1.23% yield.

PositionTTM20252024202320222021202020192018201720162015
T.TO
TELUS Corporation		11.48%9.14%7.99%6.17%5.19%4.27%4.70%8.96%9.28%8.27%8.61%8.78%
XAW.TO
iShares Core MSCI All Country World ex Canada Index ETF		1.23%1.33%1.61%1.71%1.79%1.77%1.49%2.02%2.28%1.94%1.79%1.81%

Frequently Asked Questions

T.TO and XAW.TO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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