XAW.TO vs. CPD.TO
XAW.TO (iShares Core MSCI All Country World ex Canada Index ETF) and CPD.TO (iShares S&P/TSX Canadian Preferred Share Index ETF) are both exchange-traded funds - XAW.TO is a Global Equities fund tracking the Morningstar Gbl GR CAD, while CPD.TO is a Preferred Stock/Convertible Bonds fund tracking the S&P/TSX Preferred Share TR. Both are passively managed. Over the past 10 years, XAW.TO returned 13.22%/yr vs 6.38%/yr for CPD.TO. At a 0.26 correlation, their price movements are largely independent. XAW.TO charges 0.22%/yr vs 0.50%/yr for CPD.TO.
Performance
XAW.TO vs. CPD.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XAW.TO achieves a 13.70% return, which is significantly higher than CPD.TO's 3.57% return. Over the past 10 years, XAW.TO has outperformed CPD.TO with an annualized return of 13.22%, while CPD.TO has yielded a comparatively lower 6.38% annualized return.
XAW.TO
- 1D
- -0.37%
- 1M
- 7.13%
- YTD
- 13.70%
- 6M
- 12.70%
- 1Y
- 30.51%
- 3Y*
- 21.73%
- 5Y*
- 13.96%
- 10Y*
- 13.22%
CPD.TO
- 1D
- -0.07%
- 1M
- 0.79%
- YTD
- 3.57%
- 6M
- 4.38%
- 1Y
- 14.16%
- 3Y*
- 15.84%
- 5Y*
- 5.55%
- 10Y*
- 6.38%
XAW.TO vs. CPD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XAW.TO iShares Core MSCI All Country World ex Canada Index ETF | 13.70% | 15.87% | 26.31% | 18.45% | -11.84% | 18.38% | 12.37% | 19.82% | -2.28% | 16.10% |
CPD.TO iShares S&P/TSX Canadian Preferred Share Index ETF | 3.57% | 16.10% | 23.31% | 6.23% | -19.19% | 18.85% | 5.35% | 3.35% | -9.05% | 13.44% |
Correlation
The correlation between XAW.TO and CPD.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 | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2015 | 0.26 |
XAW.TO vs. CPD.TO - Sectors Allocation Comparison
Sectors
XAW.TO
CPD.TO
Technology
-
Financial Services
Industrials
-
Consumer Cyclical
-
Communication Services
-
Healthcare
-
Consumer Defensive
Energy
-
Basic Materials
-
Utilities
-
Real Estate
-
Technology
XAW.TO
CPD.TO
-
Financial Services
XAW.TO
CPD.TO
Industrials
XAW.TO
CPD.TO
-
Consumer Cyclical
XAW.TO
CPD.TO
-
Communication Services
XAW.TO
CPD.TO
-
Healthcare
XAW.TO
CPD.TO
-
Consumer Defensive
XAW.TO
CPD.TO
Energy
XAW.TO
CPD.TO
-
Basic Materials
XAW.TO
CPD.TO
-
Utilities
XAW.TO
CPD.TO
-
Real Estate
XAW.TO
CPD.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
XAW.TO vs. CPD.TO — Risk / Return Rank
XAW.TO
CPD.TO
XAW.TO vs. CPD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO) and iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.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.
| XAW.TO | CPD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.76 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 3.76 | 5.27 | -1.51 |
| Martin ratioReturn relative to average drawdown | 15.15 | 26.40 | -11.25 |
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
| XAW.TO | CPD.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.50 | 3.45 | -0.95 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.04 | 0.72 | +0.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | 0.60 | +0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.78 | 0.32 | +0.46 |
Drawdowns
XAW.TO vs. CPD.TO - Drawdown Comparison
The maximum XAW.TO drawdown since its inception was -27.32%, smaller than the maximum CPD.TO drawdown of -40.92%. Use the drawdown chart below to compare losses from any high point for XAW.TO and CPD.TO.
Loading charts...
Drawdown Indicators
| XAW.TO | CPD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.32% | -40.92% | +13.60% |
Max Drawdown (1Y)Largest decline over 1 year | -8.16% | -2.70% | -5.46% |
Max Drawdown (3Y)Largest decline over 3 years | -16.66% | -7.65% | -9.01% |
Max Drawdown (5Y)Largest decline over 5 years | -21.02% | -24.12% | +3.10% |
Max Drawdown (10Y)Largest decline over 10 years | -27.32% | -40.92% | +13.60% |
Current DrawdownCurrent decline from peak | -0.37% | -0.36% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -3.91% | -6.70% | +2.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 0.54% | +1.48% |
Volatility
XAW.TO vs. CPD.TO - Volatility Comparison
iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO) has a higher volatility of 4.21% compared to iShares S&P/TSX Canadian Preferred Share Index ETF (CPD.TO) at 0.87%. This indicates that XAW.TO's price experiences larger fluctuations and is considered to be riskier than CPD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XAW.TO | CPD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.21% | 0.87% | +3.34% |
Volatility (6M)Calculated over the trailing 6-month period | 9.85% | 2.79% | +7.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.25% | 4.12% | +8.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.56% | 7.71% | +5.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.12% | 10.62% | +4.50% |
XAW.TO vs. CPD.TO - Expense Ratio Comparison
XAW.TO has a 0.22% expense ratio, which is lower than CPD.TO's 0.50% expense ratio.
Dividends
XAW.TO vs. CPD.TO - Dividend Comparison
XAW.TO's dividend yield for the trailing twelve months is around 1.17%, less than CPD.TO's 5.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CPD.TO iShares S&P/TSX Canadian Preferred Share Index ETF | 5.02% | 4.96% | 5.11% | 5.88% | 5.53% | 4.17% | 4.96% | 5.02% | 4.74% | 4.33% | 4.85% | 5.44% |
XAW.TO iShares Core MSCI All Country World ex Canada Index ETF | 1.17% | 1.33% | 1.61% | 1.71% | 1.79% | 1.77% | 1.49% | 2.02% | 2.29% | 1.92% | 1.80% | 1.83% |
Frequently Asked Questions
XAW.TO and CPD.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, XAW.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XAW.TO is cheaper with a 0.22% expense ratio, compared with 0.50% for CPD.TO.
XAW.TO is categorized as Global Equities, while CPD.TO is Preferred Stock/Convertible Bonds. XAW.TO tracks Morningstar Gbl GR CAD, while CPD.TO tracks S&P/TSX Preferred Share TR. Their fees differ too: 0.22% for XAW.TO and 0.50% for CPD.TO.
Find the right allocation for XAW.TO and CPD.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