PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
XCD.TO vs. SMH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XCD.TO vs. SMH

Last updated Jun 4, 2026

XCD.TO (iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged)) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - XCD.TO is a Consumer Discretionary Equities fund tracking the Morningstar Gbl GR CAD, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past 10 years, XCD.TO returned 9.01%/yr vs 38.83%/yr for SMH. At a 0.37 correlation, their price movements are largely independent. XCD.TO charges 0.65%/yr vs 0.35%/yr for SMH.

Performance

XCD.TO vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged) (XCD.TO) and VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

XCD.TO is traded in CAD, while SMH is traded in USD. To make them comparable, the SMH values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XCD.TO achieves a -4.97% return, which is significantly lower than SMH's 79.39% return. Over the past 10 years, XCD.TO has underperformed SMH with an annualized return of 9.01%, while SMH has yielded a comparatively higher 38.83% annualized return.

XCD.TO

1D
-0.76%
1M
-0.26%
YTD
-4.97%
6M
-4.10%
1Y
4.34%
3Y*
10.46%
5Y*
4.13%
10Y*
9.01%

SMH

1D
0.00%
1M
24.53%
YTD
79.39%
6M
76.18%
1Y
158.23%
3Y*
66.68%
5Y*
43.19%
10Y*
38.83%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XCD.TO vs. SMH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XCD.TO
iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged)		-4.97%9.95%19.90%28.10%-26.98%14.86%17.22%27.38%-7.58%17.70%
SMH
VanEck Semiconductor ETF		79.39%42.33%51.05%69.56%-28.80%40.85%52.91%56.37%-1.34%29.66%

Correlation

The correlation between XCD.TO and SMH is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.37

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

0.39

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

0.42

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

0.39

Correlation (All Time)
Calculated using the full available price history since Apr 9, 2013

0.37

XCD.TO vs. SMH - Sectors Allocation Comparison

Sectors
XCD.TO
SMH

Consumer Cyclical

95.1%

-

Technology

3.7%
100.0%

Consumer Defensive

0.8%

-

Industrials

0.2%

-

Communication Services

0.2%

-

Basic Materials

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Real Estate

-

-

Utilities

-

-

Consumer Cyclical

XCD.TO
95.1%
SMH

-

Technology

XCD.TO
3.7%
SMH
100.0%

Consumer Defensive

XCD.TO
0.8%
SMH

-

Industrials

XCD.TO
0.2%
SMH

-

Communication Services

XCD.TO
0.2%
SMH

-

Basic Materials

XCD.TO

-

SMH

-

Energy

XCD.TO

-

SMH

-

Financial Services

XCD.TO

-

SMH

-

Healthcare

XCD.TO

-

SMH

-

Real Estate

XCD.TO

-

SMH

-

Utilities

XCD.TO

-

SMH

-

Compare stocks, funds, or ETFs

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

iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged)

VanEck Semiconductor ETF

Often compared with XCD.TO:
XCD.TO vs. XST.TOXCD.TO vs. VOOXCD.TO vs. VUAA.LXCD.TO vs. ZLB.TOXCD.TO vs. XSP.TOXCD.TO vs. XEI.TOXCD.TO vs. XGRO.TO
Often compared with SMH:
SMH vs. SOXXSMH vs. QQQSMH vs. VGTSMH vs. FSELXSMH vs. SPYSMH vs. SMHXSMH vs. XLK

Return for Risk

XCD.TO vs. SMH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XCD.TO
XCD.TO Risk / Return Rank: 1313
Overall Rank
XCD.TO Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
XCD.TO Sortino Ratio Rank: 1212
Sortino Ratio Rank
XCD.TO Omega Ratio Rank: 1212
Omega Ratio Rank
XCD.TO Calmar Ratio Rank: 1212
Calmar Ratio Rank
XCD.TO Martin Ratio Rank: 1313
Martin Ratio Rank
SMH
SMH Risk / Return Rank: 9696
Overall Rank
SMH Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
SMH Sortino Ratio Rank: 9595
Sortino Ratio Rank
SMH Omega Ratio Rank: 9494
Omega Ratio Rank
SMH Calmar Ratio Rank: 9797
Calmar Ratio Rank
SMH Martin Ratio Rank: 9696
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.

XCD.TO vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged) (XCD.TO) and VanEck Semiconductor ETF (SMH). 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.

XCD.TOSMHDifference
Sharpe ratioReturn per unit of total volatility
0.26
5.25

-4.99

Sortino ratioReturn per unit of downside risk
0.50
5.31

-4.81

Omega ratioGain probability vs. loss probability

1.06

1.73

-0.68

Calmar ratioReturn relative to maximum drawdown

0.29

11.90

-11.61

Martin ratioReturn relative to average drawdown

0.85

43.03

-42.18

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

XCD.TO vs. SMH - Sharpe Ratio Comparison

The current XCD.TO Sharpe Ratio is 0.26, which is lower than the SMH Sharpe Ratio of 5.25. The chart below compares the historical Sharpe Ratios of XCD.TO and SMH, 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

XCD.TOSMHDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.26

5.25

-4.99

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.21

1.30

-1.09

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.43

1.25

-0.83

Sharpe Ratio (All Time)

Calculated using the full available price history

0.49

1.15

-0.66

Drawdowns

XCD.TO vs. SMH - Drawdown Comparison

The maximum XCD.TO drawdown since its inception was -39.52%, roughly equal to the maximum SMH drawdown of -40.60%. Use the drawdown chart below to compare losses from any high point for XCD.TO and SMH.

Loading charts...

Drawdown Indicators

XCD.TOSMHDifference

Max Drawdown

Largest peak-to-trough decline

-39.52%

-40.60%

+1.08%

Max Drawdown (1Y)

Largest decline over 1 year

-14.97%

-13.38%

-1.59%

Max Drawdown (3Y)

Largest decline over 3 years

-19.30%

-33.18%

+13.88%

Max Drawdown (5Y)

Largest decline over 5 years

-34.34%

-40.60%

+6.26%

Max Drawdown (10Y)

Largest decline over 10 years

-39.52%

-40.60%

+1.08%

Current Drawdown

Current decline from peak

-8.18%

0.00%

-8.18%

Average Drawdown

Average peak-to-trough decline

-7.29%

-6.69%

-0.60%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.12%

3.69%

+1.43%

Volatility

XCD.TO vs. SMH - Volatility Comparison

The current volatility for iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged) (XCD.TO) is 4.97%, while VanEck Semiconductor ETF (SMH) has a volatility of 11.38%. This indicates that XCD.TO experiences smaller price fluctuations and is considered to be less risky than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

XCD.TOSMHDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.97%

11.38%

-6.41%

Volatility (6M)

Calculated over the trailing 6-month period

12.99%

24.03%

-11.04%

Volatility (1Y)

Calculated over the trailing 1-year period

16.55%

30.30%

-13.75%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.21%

33.44%

-13.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.22%

31.06%

-9.84%

XCD.TO vs. SMH - Expense Ratio Comparison

XCD.TO has a 0.65% expense ratio, which is higher than SMH's 0.35% expense ratio.

Dividends

XCD.TO vs. SMH - Dividend Comparison

XCD.TO's dividend yield for the trailing twelve months is around 9.00%, more than SMH's 0.18% yield.

PositionTTM20252024202320222021202020192018201720162015
SMH
VanEck Semiconductor ETF		0.18%0.31%0.44%0.60%1.18%0.51%0.69%1.50%1.88%1.43%0.80%2.14%
XCD.TO
iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged)		9.00%8.55%1.29%1.14%0.71%0.37%0.40%1.07%1.32%1.13%1.33%0.96%

Frequently Asked Questions

XCD.TO and SMH have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SMH is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SMH is cheaper with a 0.35% expense ratio, compared with 0.65% for XCD.TO.

XCD.TO is categorized as Consumer Discretionary Equities, while SMH is Semiconductors. XCD.TO tracks Morningstar Gbl GR CAD, while SMH tracks MVIS US Listed Semiconductor 25 Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.65% for XCD.TO and 0.35% for SMH.

Portfolio Optimizer

Find the right allocation for XCD.TO and SMH

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