PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
XAW.TO vs. TINF.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XAW.TO vs. TINF.TO

Last updated Jun 4, 2026

XAW.TO (iShares Core MSCI All Country World ex Canada Index ETF) and TINF.TO (TD Active Global Infrastructure Equity ETF) are both Global Equities funds. XAW.TO is passively managed, while TINF.TO is actively managed. Over the past 5 years, XAW.TO returned 13.96%/yr vs 12.77%/yr for TINF.TO. A 0.52 correlation means they provide meaningful diversification when combined. XAW.TO charges 0.22%/yr vs 0.73%/yr for TINF.TO.

Performance

XAW.TO vs. TINF.TO - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, XAW.TO achieves a 13.70% return, which is significantly higher than TINF.TO's 9.87% 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%

TINF.TO

1D
0.00%
1M
-0.47%
YTD
9.87%
6M
8.63%
1Y
14.88%
3Y*
16.73%
5Y*
12.77%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020
XAW.TO
iShares Core MSCI All Country World ex Canada Index ETF		13.70%15.87%26.31%18.45%-11.84%18.38%17.00%
TINF.TO
TD Active Global Infrastructure Equity ETF		9.87%14.91%22.73%4.63%3.82%9.89%5.19%

Correlation

The correlation between XAW.TO and TINF.TO is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.48

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

0.49

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

0.54

Correlation (All Time)
Calculated using the full available price history since Jun 3, 2020

0.52

The correlation between XAW.TO and TINF.TO has been stable across timeframes, ranging from 0.48 to 0.54 - a consistent structural relationship.

XAW.TO vs. TINF.TO - Sectors Allocation Comparison

Sectors
XAW.TO
TINF.TO

Technology

32.6%

-

Financial Services

13.7%
1.8%

Industrials

9.1%
33.4%

Consumer Cyclical

8.8%

-

Communication Services

8.7%

-

Healthcare

7.8%

-

Consumer Defensive

4.6%

-

Energy

3.3%
22.6%

Basic Materials

2.8%

-

Utilities

2.2%
44.0%

Real Estate

1.4%

-

Technology

XAW.TO
32.6%
TINF.TO

-

Financial Services

XAW.TO
13.7%
TINF.TO
1.8%

Industrials

XAW.TO
9.1%
TINF.TO
33.4%

Consumer Cyclical

XAW.TO
8.8%
TINF.TO

-

Communication Services

XAW.TO
8.7%
TINF.TO

-

Healthcare

XAW.TO
7.8%
TINF.TO

-

Consumer Defensive

XAW.TO
4.6%
TINF.TO

-

Energy

XAW.TO
3.3%
TINF.TO
22.6%

Basic Materials

XAW.TO
2.8%
TINF.TO

-

Utilities

XAW.TO
2.2%
TINF.TO
44.0%

Real Estate

XAW.TO
1.4%
TINF.TO

-

Compare stocks, funds, or ETFs

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

iShares Core MSCI All Country World ex Canada Index ETF

TD Active Global Infrastructure Equity ETF

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
Often compared with TINF.TO:
TINF.TO vs. ZGI.TOTINF.TO vs. XETM.TOTINF.TO vs. HPR.TOTINF.TO vs. VEQT.TOTINF.TO vs. TGRO.TOTINF.TO vs. MEQT.TOTINF.TO vs. FGEP.TO

Return for Risk

XAW.TO vs. TINF.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XAW.TO
XAW.TO Risk / Return Rank: 7676
Overall Rank
XAW.TO Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
XAW.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
XAW.TO Omega Ratio Rank: 7878
Omega Ratio Rank
XAW.TO Calmar Ratio Rank: 7474
Calmar Ratio Rank
XAW.TO Martin Ratio Rank: 7777
Martin Ratio Rank
TINF.TO
TINF.TO Risk / Return Rank: 4545
Overall Rank
TINF.TO Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
TINF.TO Sortino Ratio Rank: 3838
Sortino Ratio Rank
TINF.TO Omega Ratio Rank: 3939
Omega Ratio Rank
TINF.TO Calmar Ratio Rank: 6060
Calmar Ratio Rank
TINF.TO Martin Ratio Rank: 4747
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.

XAW.TO vs. TINF.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 TD Active Global Infrastructure Equity ETF (TINF.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.TOTINF.TODifference
Sharpe ratioReturn per unit of total volatility
2.50
1.44

+1.06

Sortino ratioReturn per unit of downside risk
3.49
1.97

+1.52

Omega ratioGain probability vs. loss probability

1.48

1.26

+0.22

Calmar ratioReturn relative to maximum drawdown

3.76

2.97

+0.79

Martin ratioReturn relative to average drawdown

15.15

7.60

+7.56

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current XAW.TO Sharpe Ratio is 2.50, which is higher than the TINF.TO Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of XAW.TO and TINF.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.

Loading charts...

Sharpe Ratios by Period

XAW.TOTINF.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.50

1.44

+1.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.04

1.09

-0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.88

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.78

0.98

-0.20

Drawdowns

XAW.TO vs. TINF.TO - Drawdown Comparison

The maximum XAW.TO drawdown since its inception was -27.32%, which is greater than TINF.TO's maximum drawdown of -13.48%. Use the drawdown chart below to compare losses from any high point for XAW.TO and TINF.TO.

Loading charts...

Drawdown Indicators

XAW.TOTINF.TODifference

Max Drawdown

Largest peak-to-trough decline

-27.32%

-13.48%

-13.84%

Max Drawdown (1Y)

Largest decline over 1 year

-8.16%

-5.03%

-3.13%

Max Drawdown (3Y)

Largest decline over 3 years

-16.66%

-10.23%

-6.43%

Max Drawdown (5Y)

Largest decline over 5 years

-21.02%

-13.48%

-7.54%

Max Drawdown (10Y)

Largest decline over 10 years

-27.32%

—

—

Current Drawdown

Current decline from peak

-0.37%

-3.68%

+3.31%

Average Drawdown

Average peak-to-trough decline

-3.91%

-2.43%

-1.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.02%

1.96%

+0.06%

Volatility

XAW.TO vs. TINF.TO - Volatility Comparison

The current volatility for iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO) is 4.21%, while TD Active Global Infrastructure Equity ETF (TINF.TO) has a volatility of 4.87%. This indicates that XAW.TO experiences smaller price fluctuations and is considered to be less risky than TINF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

XAW.TOTINF.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.21%

4.87%

-0.66%

Volatility (6M)

Calculated over the trailing 6-month period

9.85%

8.80%

+1.05%

Volatility (1Y)

Calculated over the trailing 1-year period

12.25%

10.39%

+1.86%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.56%

11.83%

+1.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.12%

12.02%

+3.10%

XAW.TO vs. TINF.TO - Expense Ratio Comparison

XAW.TO has a 0.22% expense ratio, which is lower than TINF.TO's 0.73% expense ratio.

Dividends

XAW.TO vs. TINF.TO - Dividend Comparison

XAW.TO's dividend yield for the trailing twelve months is around 1.17%, less than TINF.TO's 2.65% yield.

PositionTTM20252024202320222021202020192018201720162015
TINF.TO
TD Active Global Infrastructure Equity ETF		2.65%2.89%2.85%3.39%2.97%2.28%0.99%0.00%0.00%0.00%0.00%0.00%
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 TINF.TO have a correlation of 0.48, 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 0.73% for TINF.TO.

They also come from different issuers: iShares and TD. Their fees differ too: 0.22% for XAW.TO and 0.73% for TINF.TO.

Portfolio Optimizer

Find the right allocation for XAW.TO and TINF.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