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VFV.TO vs. XUT.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VFV.TO vs. XUT.TO

Last updated Jun 14, 2026

VFV.TO (Vanguard S&P 500 Index ETF) and XUT.TO (iShares S&P/TSX Capped Utilities Index ETF) are both exchange-traded funds - VFV.TO is a S&P 500 fund tracking the S&P 500 Index, while XUT.TO is a Utilities Equities fund tracking the Morningstar Gbl GR CAD. Both are passively managed. Over the past 10 years, VFV.TO returned 16.12%/yr vs 8.96%/yr for XUT.TO. At a 0.31 correlation, their price movements are largely independent. VFV.TO charges 0.09%/yr vs 0.61%/yr for XUT.TO.

Performance

VFV.TO vs. XUT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard S&P 500 Index ETF (VFV.TO) and iShares S&P/TSX Capped Utilities Index ETF (XUT.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, VFV.TO achieves a 11.07% return, which is significantly lower than XUT.TO's 16.33% return. Over the past 10 years, VFV.TO has outperformed XUT.TO with an annualized return of 16.12%, while XUT.TO has yielded a comparatively lower 8.96% annualized return.

VFV.TO

1D
0.74%
1M
2.06%
YTD
11.07%
6M
10.94%
1Y
29.19%
3Y*
22.63%
5Y*
16.33%
10Y*
16.12%

XUT.TO

1D
0.05%
1M
4.08%
YTD
16.33%
6M
13.38%
1Y
21.77%
3Y*
12.14%
5Y*
6.77%
10Y*
8.96%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VFV.TO vs. XUT.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VFV.TO
Vanguard S&P 500 Index ETF		11.07%12.18%35.23%23.23%-12.58%27.51%15.61%25.14%2.95%13.69%
XUT.TO
iShares S&P/TSX Capped Utilities Index ETF		16.33%14.74%13.09%-0.45%-11.02%8.92%14.74%36.63%-8.30%10.16%

Correlation

The correlation between VFV.TO and XUT.TO is 0.02, 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

0.02

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

0.21

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

0.26

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

0.29

Correlation (All Time)
Calculated using the full available price history since Nov 8, 2012

0.31

Over the past year, the correlation between VFV.TO and XUT.TO has dropped to 0.02 - well below their long-term average of 0.31, suggesting their price drivers have been diverging.

VFV.TO vs. XUT.TO - Sectors Allocation Comparison

Sectors
VFV.TO
XUT.TO

Technology

35.7%

-

Financial Services

11.6%

-

Communication Services

11.3%

-

Consumer Cyclical

10.2%

-

Healthcare

8.5%

-

Industrials

8.3%

-

Consumer Defensive

4.9%

-

Energy

3.5%
9.3%

Utilities

2.4%
90.7%

Real Estate

1.9%

-

Basic Materials

1.8%

-

Technology

VFV.TO
35.7%
XUT.TO

-

Financial Services

VFV.TO
11.6%
XUT.TO

-

Communication Services

VFV.TO
11.3%
XUT.TO

-

Consumer Cyclical

VFV.TO
10.2%
XUT.TO

-

Healthcare

VFV.TO
8.5%
XUT.TO

-

Industrials

VFV.TO
8.3%
XUT.TO

-

Consumer Defensive

VFV.TO
4.9%
XUT.TO

-

Energy

VFV.TO
3.5%
XUT.TO
9.3%

Utilities

VFV.TO
2.4%
XUT.TO
90.7%

Real Estate

VFV.TO
1.9%
XUT.TO

-

Basic Materials

VFV.TO
1.8%
XUT.TO

-

Compare stocks, funds, or ETFs

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

Vanguard S&P 500 Index ETF

iShares S&P/TSX Capped Utilities Index ETF

Often compared with VFV.TO:
VFV.TO vs. XEQT.TOVFV.TO vs. VEQT.TOVFV.TO vs. VOOVFV.TO vs. QQC.TOVFV.TO vs. VSP.TOVFV.TO vs. VCN.TOVFV.TO vs. XQQ.TO
Often compared with XUT.TO:
XUT.TO vs. ZUT.TOXUT.TO vs. XEI.TOXUT.TO vs. ZLB.TOXUT.TO vs. XIU.TOXUT.TO vs. XLUXUT.TO vs. UTES.TOXUT.TO vs. VPU

Return for Risk

VFV.TO vs. XUT.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VFV.TO
VFV.TO Risk / Return Rank: 7979
Overall Rank
VFV.TO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
VFV.TO Sortino Ratio Rank: 8181
Sortino Ratio Rank
VFV.TO Omega Ratio Rank: 8383
Omega Ratio Rank
VFV.TO Calmar Ratio Rank: 7373
Calmar Ratio Rank
VFV.TO Martin Ratio Rank: 7474
Martin Ratio Rank
XUT.TO
XUT.TO Risk / Return Rank: 7575
Overall Rank
XUT.TO Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
XUT.TO Sortino Ratio Rank: 8383
Sortino Ratio Rank
XUT.TO Omega Ratio Rank: 8989
Omega Ratio Rank
XUT.TO Calmar Ratio Rank: 6565
Calmar Ratio Rank
XUT.TO Martin Ratio Rank: 5353
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.

VFV.TO vs. XUT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 Index ETF (VFV.TO) and iShares S&P/TSX Capped Utilities Index ETF (XUT.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.

VFV.TOXUT.TODifference
Sharpe ratioReturn per unit of total volatility
2.33
2.48

-0.15

Sortino ratioReturn per unit of downside risk
3.14
3.20

-0.07

Omega ratioGain probability vs. loss probability

1.43

1.49

-0.06

Calmar ratioReturn relative to maximum drawdown

3.21

2.83

+0.38

Martin ratioReturn relative to average drawdown

12.10

8.04

+4.05

VFV.TO vs. XUT.TO - Sharpe Ratio Comparison

The current VFV.TO Sharpe Ratio is 2.33, which is comparable to the XUT.TO Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of VFV.TO and XUT.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

VFV.TO vs. XUT.TO - Drawdown Comparison

The maximum VFV.TO drawdown since its inception was -27.43%, smaller than the maximum XUT.TO drawdown of -37.65%. Use the drawdown chart below to compare losses from any high point for VFV.TO and XUT.TO.

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Drawdown Indicators

VFV.TOXUT.TODifference

Max Drawdown

Largest peak-to-trough decline

-27.43%

-37.65%

+10.22%

Max Drawdown (1Y)

Largest decline over 1 year

-8.62%

-7.64%

-0.98%

Max Drawdown (3Y)

Largest decline over 3 years

-19.05%

-17.51%

-1.54%

Max Drawdown (5Y)

Largest decline over 5 years

-22.19%

-28.54%

+6.35%

Max Drawdown (10Y)

Largest decline over 10 years

-27.43%

-37.65%

+10.22%

Current Drawdown

Current decline from peak

-1.46%

0.00%

-1.46%

Average Drawdown

Average peak-to-trough decline

-3.35%

-5.81%

+2.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.28%

2.69%

-0.41%

Volatility

VFV.TO vs. XUT.TO - Volatility Comparison

Vanguard S&P 500 Index ETF (VFV.TO) has a higher volatility of 4.49% compared to iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) at 2.56%. This indicates that VFV.TO's price experiences larger fluctuations and is considered to be riskier than XUT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VFV.TOXUT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.49%

2.56%

+1.93%

Volatility (6M)

Calculated over the trailing 6-month period

9.22%

7.57%

+1.65%

Volatility (1Y)

Calculated over the trailing 1-year period

11.86%

8.76%

+3.10%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.99%

12.77%

+2.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.60%

16.17%

+0.43%

VFV.TO vs. XUT.TO - Expense Ratio Comparison

VFV.TO has a 0.09% expense ratio, which is lower than XUT.TO's 0.61% expense ratio.

Dividends

VFV.TO vs. XUT.TO - Dividend Comparison

VFV.TO's dividend yield for the trailing twelve months is around 0.84%, less than XUT.TO's 3.25% yield.

PositionTTM20252024202320222021202020192018201720162015
VFV.TO
Vanguard S&P 500 Index ETF		0.84%0.92%0.99%1.20%1.31%1.06%1.33%1.55%1.69%1.51%1.65%1.63%
XUT.TO
iShares S&P/TSX Capped Utilities Index ETF		3.25%3.91%4.00%3.90%3.80%3.04%4.51%3.57%4.52%3.57%3.74%4.05%

Frequently Asked Questions

VFV.TO and XUT.TO have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VFV.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VFV.TO is cheaper with a 0.09% expense ratio, compared with 0.61% for XUT.TO.

VFV.TO is categorized as S&P 500, while XUT.TO is Utilities Equities. VFV.TO tracks S&P 500 Index, while XUT.TO tracks Morningstar Gbl GR CAD. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.09% for VFV.TO and 0.61% for XUT.TO.

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