VSP.TO vs. ESG.TO

Last updated Jun 5, 2026

VSP.TO (Vanguard S&P 500 CAD-hedged ETF) and ESG.TO (Invesco S&P 500 ESG Index ETF) are both S&P 500 funds - VSP.TO tracks the S&P 500 Index while ESG.TO tracks the S&P 500 Equal Weight ESG Leaders Select Index. Both are passively managed. Over the past 5 years, VSP.TO returned 12.28%/yr vs 17.02%/yr for ESG.TO. A 0.72 correlation means they provide meaningful diversification when combined. VSP.TO charges 0.09%/yr vs 0.20%/yr for ESG.TO.

Performance

VSP.TO vs. ESG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard S&P 500 CAD-hedged ETF (VSP.TO) and Invesco S&P 500 ESG Index ETF (ESG.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSP.TO achieves a 10.06% return, which is significantly lower than ESG.TO's 11.93% return.

VSP.TO

• 1D: 0.38%
• 1M: 4.56%
• YTD: 10.06%
• 6M: 9.82%
• 1Y: 25.58%
• 3Y*: 20.52%
• 5Y*: 12.28%
• 10Y*: 13.86%

ESG.TO

• 1D: 1.09%
• 1M: 7.32%
• YTD: 11.93%
• 6M: 9.29%
• 1Y: 30.77%
• 3Y*: 22.20%
• 5Y*: 17.02%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VSP.TO vs. ESG.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VSP.TO Vanguard S&P 500 CAD-hedged ETF	10.06%	15.49%	23.68%	24.16%	-19.24%	27.90%	23.25%
ESG.TO Invesco S&P 500 ESG Index ETF	11.93%	10.99%	33.33%	25.19%	-14.05%	32.71%	19.30%

Correlation

The correlation between VSP.TO and ESG.TO is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Mar 6, 2020	0.72

The correlation between VSP.TO and ESG.TO has been stable across timeframes, ranging from 0.72 to 0.81 - a consistent structural relationship.

VSP.TO vs. ESG.TO - Sectors Allocation Comparison

Sectors	VSP.TO	ESG.TO
Technology	35.7%	38.6%
Financial Services	11.6%	12.0%
Communication Services	11.3%	14.5%
Consumer Cyclical	10.2%	4.6%
Healthcare	8.5%	9.3%
Industrials	8.3%	6.8%
Consumer Defensive	4.9%	5.1%
Energy	3.5%	4.2%
Utilities	2.4%	0.8%
Real Estate	1.9%	2.2%
Basic Materials	1.8%	1.9%

Return for Risk

VSP.TO vs. ESG.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VSP.TO

VSP.TO Risk / Return Rank: 63
VSP.TO Sharpe Ratio Rank: 64
VSP.TO Sortino Ratio Rank: 62
VSP.TO Omega Ratio Rank: 64
VSP.TO Calmar Ratio Rank: 56
VSP.TO Martin Ratio Rank: 69

ESG.TO

ESG.TO Risk / Return Rank: 75
ESG.TO Sharpe Ratio Rank: 80
ESG.TO Sortino Ratio Rank: 82
ESG.TO Omega Ratio Rank: 81
ESG.TO Calmar Ratio Rank: 65
ESG.TO Martin Ratio Rank: 66

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.

VSP.TO vs. ESG.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 CAD-hedged ETF (VSP.TO) and Invesco S&P 500 ESG Index ETF (ESG.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.

	VSP.TO	ESG.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.08	2.56	-0.49
Sortino ratio: Return per unit of downside risk	2.88	3.60	-0.72
Omega ratio: Gain probability vs. loss probability	1.38	1.48	-0.10
Calmar ratio: Return relative to maximum drawdown	2.73	3.19	-0.46
Martin ratio: Return relative to average drawdown	12.47	11.73	+0.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VSP.TO vs. ESG.TO - Sharpe Ratio Comparison

The current VSP.TO Sharpe Ratio is 2.08, which is comparable to the ESG.TO Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of VSP.TO and ESG.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.

Sharpe Ratios by Period

	VSP.TO	ESG.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.08	2.56	-0.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	1.14	-0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	1.11	-0.27

Drawdowns

VSP.TO vs. ESG.TO - Drawdown Comparison

The maximum VSP.TO drawdown since its inception was -35.55%, which is greater than ESG.TO's maximum drawdown of -22.31%. Use the drawdown chart below to compare losses from any high point for VSP.TO and ESG.TO.

Drawdown Indicators

	VSP.TO	ESG.TO	Difference
Max Drawdown Largest peak-to-trough decline	-35.55%	-22.31%	-13.24%
Max Drawdown (1Y) Largest decline over 1 year	-9.40%	-9.69%	+0.29%
Max Drawdown (3Y) Largest decline over 3 years	-18.85%	-19.85%	+1.00%
Max Drawdown (5Y) Largest decline over 5 years	-25.54%	-22.31%	-3.23%
Max Drawdown (10Y) Largest decline over 10 years	-35.55%	—	—
Current Drawdown Current decline from peak	-1.67%	0.00%	-1.67%
Average Drawdown Average peak-to-trough decline	-4.00%	-4.29%	+0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	2.63%	-0.57%

Volatility

VSP.TO vs. ESG.TO - Volatility Comparison

Vanguard S&P 500 CAD-hedged ETF (VSP.TO) has a higher volatility of 4.97% compared to Invesco S&P 500 ESG Index ETF (ESG.TO) at 3.08%. This indicates that VSP.TO's price experiences larger fluctuations and is considered to be riskier than ESG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSP.TO	ESG.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.97%	3.08%	+1.89%
Volatility (6M) Calculated over the trailing 6-month period	9.80%	9.42%	+0.38%
Volatility (1Y) Calculated over the trailing 1-year period	12.38%	12.06%	+0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.90%	14.99%	+1.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.02%	16.34%	+1.68%

VSP.TO vs. ESG.TO - Expense Ratio Comparison

VSP.TO has a 0.09% expense ratio, which is lower than ESG.TO's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VSP.TO vs. ESG.TO - Dividend Comparison

VSP.TO's dividend yield for the trailing twelve months is around 0.84%, more than ESG.TO's 0.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ESG.TO Invesco S&P 500 ESG Index ETF	0.75%	0.85%	0.92%	1.11%	1.38%	1.11%	0.95%	0.00%	0.00%	0.00%	0.00%	0.00%
VSP.TO Vanguard S&P 500 CAD-hedged ETF	0.84%	0.92%	1.07%	1.17%	1.37%	1.07%	1.27%	1.52%	1.76%	1.46%	1.69%	1.75%

Frequently Asked Questions

Can I hold both VSP.TO and ESG.TO in my portfolio?

VSP.TO and ESG.TO have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VSP.TO or ESG.TO?

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

Which ETF is cheaper, VSP.TO or ESG.TO?

VSP.TO is cheaper with a 0.09% expense ratio, compared with 0.20% for ESG.TO.

What is the main difference between VSP.TO and ESG.TO?

VSP.TO tracks S&P 500 Index, while ESG.TO tracks S&P 500 Equal Weight ESG Leaders Select Index. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.09% for VSP.TO and 0.20% for ESG.TO.