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XCD.TO vs. XEQT.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XCD.TO vs. XEQT.TO

Last updated Jun 5, 2026

XCD.TO (iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged)) and XEQT.TO (iShares Core Equity ETF Portfolio) are both exchange-traded funds - XCD.TO is a Consumer Discretionary Equities fund tracking the Morningstar Gbl GR CAD, while XEQT.TO is a Global Equities fund actively managed by iShares. XCD.TO is passively managed, while XEQT.TO is actively managed. Over the past 5 years, XCD.TO returned 4.31%/yr vs 13.90%/yr for XEQT.TO. A 0.59 correlation means they provide meaningful diversification when combined. XCD.TO charges 0.65%/yr vs 0.20%/yr for XEQT.TO.

Performance

XCD.TO vs. XEQT.TO - 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 iShares Core Equity ETF Portfolio (XEQT.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, XCD.TO achieves a -4.14% return, which is significantly lower than XEQT.TO's 13.22% return.

XCD.TO

1D
0.87%
1M
1.26%
YTD
-4.14%
6M
-3.07%
1Y
5.54%
3Y*
10.97%
5Y*
4.31%
10Y*
9.14%

XEQT.TO

1D
0.83%
1M
6.02%
YTD
13.22%
6M
11.68%
1Y
30.42%
3Y*
22.22%
5Y*
13.90%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XCD.TO vs. XEQT.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XCD.TO
iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged)		-4.14%9.95%19.90%28.10%-26.98%14.86%17.22%9.95%
XEQT.TO
iShares Core Equity ETF Portfolio		13.22%19.47%24.36%17.25%-11.01%18.94%11.82%9.89%

Correlation

The correlation between XCD.TO and XEQT.TO is 0.61, 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

0.61

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

0.59

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

0.60

Correlation (All Time)
Calculated using the full available price history since Aug 15, 2019

0.59

The correlation between XCD.TO and XEQT.TO has been stable across timeframes, ranging from 0.59 to 0.61 - a consistent structural relationship.

XCD.TO vs. XEQT.TO - Sectors Allocation Comparison

Sectors
XCD.TO
XEQT.TO

Consumer Cyclical

95.1%
7.8%

Technology

3.7%
22.9%

Consumer Defensive

0.8%
4.4%

Industrials

0.2%
12.1%

Communication Services

0.2%
6.4%

Basic Materials

-

7.3%

Energy

-

7.2%

Financial Services

-

20.3%

Healthcare

-

6.6%

Real Estate

-

2.2%

Utilities

-

2.8%

Consumer Cyclical

XCD.TO
95.1%
XEQT.TO
7.8%

Technology

XCD.TO
3.7%
XEQT.TO
22.9%

Consumer Defensive

XCD.TO
0.8%
XEQT.TO
4.4%

Industrials

XCD.TO
0.2%
XEQT.TO
12.1%

Communication Services

XCD.TO
0.2%
XEQT.TO
6.4%

Basic Materials

XCD.TO

-

XEQT.TO
7.3%

Energy

XCD.TO

-

XEQT.TO
7.2%

Financial Services

XCD.TO

-

XEQT.TO
20.3%

Healthcare

XCD.TO

-

XEQT.TO
6.6%

Real Estate

XCD.TO

-

XEQT.TO
2.2%

Utilities

XCD.TO

-

XEQT.TO
2.8%

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

iShares Core Equity ETF Portfolio

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XCD.TO vs. XST.TOXCD.TO vs. VOOXCD.TO vs. VUAA.LXCD.TO vs. SMHXCD.TO vs. ZLB.TOXCD.TO vs. XSP.TOXCD.TO vs. XEI.TO
Often compared with XEQT.TO:
XEQT.TO vs. VFV.TOXEQT.TO vs. VEQT.TOXEQT.TO vs. XGRO.TOXEQT.TO vs. ZEQT.TOXEQT.TO vs. VGRO.TOXEQT.TO vs. XEI.TOXEQT.TO vs. VOO

Return for Risk

XCD.TO vs. XEQT.TO — 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: 1414
Overall Rank
XCD.TO Sharpe Ratio Rank: 1515
Sharpe Ratio Rank
XCD.TO Sortino Ratio Rank: 1414
Sortino Ratio Rank
XCD.TO Omega Ratio Rank: 1313
Omega Ratio Rank
XCD.TO Calmar Ratio Rank: 1414
Calmar Ratio Rank
XCD.TO Martin Ratio Rank: 1515
Martin Ratio Rank
XEQT.TO
XEQT.TO Risk / Return Rank: 8080
Overall Rank
XEQT.TO Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
XEQT.TO Sortino Ratio Rank: 8181
Sortino Ratio Rank
XEQT.TO Omega Ratio Rank: 8282
Omega Ratio Rank
XEQT.TO Calmar Ratio Rank: 7575
Calmar Ratio Rank
XEQT.TO Martin Ratio Rank: 8282
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. XEQT.TO - 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 iShares Core Equity ETF Portfolio (XEQT.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.

XCD.TOXEQT.TODifference
Sharpe ratioReturn per unit of total volatility
0.34
2.62

-2.29

Sortino ratioReturn per unit of downside risk
0.60
3.61

-3.01

Omega ratioGain probability vs. loss probability

1.07

1.48

-0.41

Calmar ratioReturn relative to maximum drawdown

0.37

3.70

-3.33

Martin ratioReturn relative to average drawdown

1.08

16.13

-15.05

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. XEQT.TO - Sharpe Ratio Comparison

The current XCD.TO Sharpe Ratio is 0.34, which is lower than the XEQT.TO Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of XCD.TO and XEQT.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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Sharpe Ratios by Period

XCD.TOXEQT.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.34

2.62

-2.29

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.21

1.07

-0.85

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.43

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.49

0.96

-0.47

Drawdowns

XCD.TO vs. XEQT.TO - Drawdown Comparison

The maximum XCD.TO drawdown since its inception was -39.52%, which is greater than XEQT.TO's maximum drawdown of -29.74%. Use the drawdown chart below to compare losses from any high point for XCD.TO and XEQT.TO.

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Drawdown Indicators

XCD.TOXEQT.TODifference

Max Drawdown

Largest peak-to-trough decline

-39.52%

-29.74%

-9.78%

Max Drawdown (1Y)

Largest decline over 1 year

-14.97%

-8.25%

-6.72%

Max Drawdown (3Y)

Largest decline over 3 years

-19.30%

-15.08%

-4.22%

Max Drawdown (5Y)

Largest decline over 5 years

-34.34%

-19.56%

-14.78%

Max Drawdown (10Y)

Largest decline over 10 years

-39.52%

—

—

Current Drawdown

Current decline from peak

-7.37%

0.00%

-7.37%

Average Drawdown

Average peak-to-trough decline

-7.29%

-4.11%

-3.18%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.13%

1.89%

+3.24%

Volatility

XCD.TO vs. XEQT.TO - Volatility Comparison

iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged) (XCD.TO) has a higher volatility of 5.00% compared to iShares Core Equity ETF Portfolio (XEQT.TO) at 3.70%. This indicates that XCD.TO's price experiences larger fluctuations and is considered to be riskier than XEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XCD.TOXEQT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.00%

3.70%

+1.30%

Volatility (6M)

Calculated over the trailing 6-month period

13.01%

9.41%

+3.60%

Volatility (1Y)

Calculated over the trailing 1-year period

16.54%

11.65%

+4.89%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.22%

13.13%

+7.09%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.22%

15.56%

+5.66%

XCD.TO vs. XEQT.TO - Expense Ratio Comparison

XCD.TO has a 0.65% expense ratio, which is higher than XEQT.TO's 0.20% expense ratio.

Dividends

XCD.TO vs. XEQT.TO - Dividend Comparison

XCD.TO's dividend yield for the trailing twelve months is around 8.92%, more than XEQT.TO's 1.47% yield.

PositionTTM20252024202320222021202020192018201720162015
XCD.TO
iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged)		8.92%8.55%1.29%1.14%0.71%0.37%0.40%1.07%1.32%1.13%1.33%0.96%
XEQT.TO
iShares Core Equity ETF Portfolio		1.47%1.66%2.01%2.07%2.12%1.64%1.66%1.19%0.00%0.00%0.00%0.00%

Frequently Asked Questions

XCD.TO and XEQT.TO have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XEQT.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XEQT.TO is cheaper with a 0.20% expense ratio, compared with 0.65% for XCD.TO.

XCD.TO is categorized as Consumer Discretionary Equities, while XEQT.TO is Global Equities. Their fees differ too: 0.65% for XCD.TO and 0.20% for XEQT.TO.

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