TPU.TO vs. XMU.TO
TPU.TO (TD U.S. Equity Index ETF) and XMU.TO (iShares MSCI Min Vol USA Index ETF) are both Large Cap Blend Equities funds - TPU.TO tracks the Solactive US Large Cap CAD Index while XMU.TO tracks the MSCI USA Minimum Volatility Index. Both are passively managed. Over the past 10 years, TPU.TO returned 16.10%/yr vs 9.17%/yr for XMU.TO. A 0.68 correlation means they provide meaningful diversification when combined. TPU.TO charges 0.06%/yr vs 0.33%/yr for XMU.TO.
Performance
TPU.TO vs. XMU.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TPU.TO achieves a 12.48% return, which is significantly higher than XMU.TO's 3.85% return. Over the past 10 years, TPU.TO has outperformed XMU.TO with an annualized return of 16.10%, while XMU.TO has yielded a comparatively lower 9.17% annualized return.
TPU.TO
- 1D
- -0.27%
- 1M
- 7.38%
- YTD
- 12.48%
- 6M
- 10.60%
- 1Y
- 29.73%
- 3Y*
- 23.84%
- 5Y*
- 16.57%
- 10Y*
- 16.10%
XMU.TO
- 1D
- -0.09%
- 1M
- 4.37%
- YTD
- 3.85%
- 6M
- -1.16%
- 1Y
- 1.98%
- 3Y*
- 10.21%
- 5Y*
- 8.15%
- 10Y*
- 9.17%
TPU.TO vs. XMU.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TPU.TO TD U.S. Equity Index ETF | 12.48% | 12.69% | 34.82% | 24.24% | -14.31% | 26.02% | 18.73% | 25.02% | 3.03% | 13.31% |
XMU.TO iShares MSCI Min Vol USA Index ETF | 3.85% | -0.84% | 21.99% | 6.59% | -3.64% | 16.99% | 2.99% | 20.78% | 9.07% | 10.80% |
Correlation
The correlation between TPU.TO and XMU.TO is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2016 | 0.68 |
Over the past year, the correlation between TPU.TO and XMU.TO has dropped to 0.45 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.
TPU.TO vs. XMU.TO - Sectors Allocation Comparison
Sectors
TPU.TO
XMU.TO
Technology
Communication Services
Financial Services
Consumer Cyclical
Healthcare
Industrials
Consumer Defensive
Energy
Utilities
Basic Materials
Real Estate
Technology
TPU.TO
XMU.TO
Communication Services
TPU.TO
XMU.TO
Financial Services
TPU.TO
XMU.TO
Consumer Cyclical
TPU.TO
XMU.TO
Healthcare
TPU.TO
XMU.TO
Industrials
TPU.TO
XMU.TO
Consumer Defensive
TPU.TO
XMU.TO
Energy
TPU.TO
XMU.TO
Utilities
TPU.TO
XMU.TO
Basic Materials
TPU.TO
XMU.TO
Real Estate
TPU.TO
XMU.TO
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TPU.TO vs. XMU.TO — Risk / Return Rank
TPU.TO
XMU.TO
TPU.TO vs. XMU.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TD U.S. Equity Index ETF (TPU.TO) and iShares MSCI Min Vol USA Index ETF (XMU.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.
| TPU.TO | XMU.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.32 | ||
| Sortino ratioReturn per unit of downside risk | +3.07 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.04 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | 0.26 | +3.18 |
| Martin ratioReturn relative to average drawdown | 12.86 | 0.56 | +12.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| TPU.TO | XMU.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.53 | 0.22 | +2.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.09 | 0.73 | +0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.97 | 0.66 | +0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.97 | 0.98 | -0.01 |
Drawdowns
TPU.TO vs. XMU.TO - Drawdown Comparison
The maximum TPU.TO drawdown since its inception was -27.96%, roughly equal to the maximum XMU.TO drawdown of -27.31%. Use the drawdown chart below to compare losses from any high point for TPU.TO and XMU.TO.
Loading charts...
Drawdown Indicators
| TPU.TO | XMU.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.96% | -27.31% | -0.65% |
Max Drawdown (1Y)Largest decline over 1 year | -8.68% | -7.71% | -0.97% |
Max Drawdown (3Y)Largest decline over 3 years | -19.30% | -10.98% | -8.32% |
Max Drawdown (5Y)Largest decline over 5 years | -23.73% | -18.16% | -5.57% |
Max Drawdown (10Y)Largest decline over 10 years | -27.96% | -27.31% | -0.65% |
Current DrawdownCurrent decline from peak | -0.27% | -3.95% | +3.68% |
Average DrawdownAverage peak-to-trough decline | -3.96% | -3.44% | -0.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 3.57% | -1.25% |
Volatility
TPU.TO vs. XMU.TO - Volatility Comparison
TD U.S. Equity Index ETF (TPU.TO) has a higher volatility of 3.23% compared to iShares MSCI Min Vol USA Index ETF (XMU.TO) at 2.18%. This indicates that TPU.TO's price experiences larger fluctuations and is considered to be riskier than XMU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TPU.TO | XMU.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.23% | 2.18% | +1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 8.83% | 6.86% | +1.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.81% | 9.20% | +2.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.31% | 11.15% | +4.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.60% | 13.97% | +2.63% |
TPU.TO vs. XMU.TO - Expense Ratio Comparison
TPU.TO has a 0.06% expense ratio, which is lower than XMU.TO's 0.33% expense ratio.
Dividends
TPU.TO vs. XMU.TO - Dividend Comparison
TPU.TO's dividend yield for the trailing twelve months is around 0.85%, less than XMU.TO's 1.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TPU.TO TD U.S. Equity Index ETF | 0.85% | 0.96% | 0.90% | 1.22% | 1.34% | 0.99% | 1.23% | 1.23% | 1.57% | 1.59% | 1.33% | 0.00% |
XMU.TO iShares MSCI Min Vol USA Index ETF | 1.12% | 1.10% | 1.14% | 1.33% | 1.10% | 1.00% | 1.59% | 1.36% | 1.39% | 1.51% | 1.73% | 1.35% |
Frequently Asked Questions
TPU.TO and XMU.TO have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TPU.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TPU.TO is cheaper with a 0.06% expense ratio, compared with 0.33% for XMU.TO.
TPU.TO tracks Solactive US Large Cap CAD Index, while XMU.TO tracks MSCI USA Minimum Volatility Index. They also come from different issuers: TD and iShares. Their fees differ too: 0.06% for TPU.TO and 0.33% for XMU.TO.
Find the right allocation for TPU.TO and XMU.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer