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

XCD.TO vs. XGI.TO

Last updated Jul 22, 2026
Documentation

XCD.TO (iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged)) and XGI.TO (iShares S&P Global Industrials Index ETF (CAD-Hedged)) are both exchange-traded funds - XCD.TO is a Consumer Discretionary Equities fund tracking the Morningstar Gbl GR CAD, while XGI.TO is a Industrials Equities fund tracking the Morningstar Gbl GR CAD. Both are passively managed. Over the past 10 years, XCD.TO returned 8.80%/yr vs 11.95%/yr for XGI.TO. At a 0.34 correlation, their price movements are largely independent. XCD.TO charges 0.65%/yr vs 0.68%/yr for XGI.TO.

Performance

XCD.TO vs. XGI.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 S&P Global Industrials Index ETF (CAD-Hedged) (XGI.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 -4.91% return, which is significantly lower than XGI.TO's 11.51% return. Over the past 10 years, XCD.TO has underperformed XGI.TO with an annualized return of 8.80%, while XGI.TO has yielded a comparatively higher 11.95% annualized return.

XCD.TO

1D
0.19%
1M
0.01%
6M
-3.97%
YTD
-4.91%
1Y
4.09%
3Y*
8.19%
5Y*
3.53%
10Y*
8.80%
ALL TIME*
9.58%

XGI.TO

1D
0.73%
1M
-1.98%
6M
7.05%
YTD
11.51%
1Y
18.20%
3Y*
17.95%
5Y*
12.07%
10Y*
11.95%
ALL TIME*
11.43%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
XCD.TO
iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged)		-4.91%9.95%19.90%27.53%-26.98%14.87%13.15%32.04%-10.78%22.00%
XGI.TO
iShares S&P Global Industrials Index ETF (CAD-Hedged)		11.51%20.93%16.18%21.83%-8.79%14.92%4.64%26.41%-11.83%20.23%

Correlation

The correlation between XCD.TO and XGI.TO is 0.54, 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

0.54

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

0.42

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

0.48

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

0.34

Correlation (All Time)
Calculated using the full available price history since Apr 3, 2013

0.34

Over the past year, XCD.TO and XGI.TO have become more correlated (0.54) than their long-term average of 0.34, meaning their price movements have been converging.

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

Sectors
XCD.TO
XGI.TO

Consumer Cyclical

90.5%
0.2%

Technology

4.0%
4.2%

Communication Services

2.2%
1.0%

Consumer Defensive

0.8%
0.1%

Industrials

0.1%
94.3%

Basic Materials

-

0.1%

Energy

-

-

Financial Services

-

0.1%

Healthcare

-

-

Real Estate

-

-

Utilities

-

2.6%

Consumer Cyclical

XCD.TO
90.5%
XGI.TO
0.2%

Technology

XCD.TO
4.0%
XGI.TO
4.2%

Communication Services

XCD.TO
2.2%
XGI.TO
1.0%

Consumer Defensive

XCD.TO
0.8%
XGI.TO
0.1%

Industrials

XCD.TO
0.1%
XGI.TO
94.3%

Basic Materials

XCD.TO

-

XGI.TO
0.1%

Energy

XCD.TO

-

XGI.TO

-

Financial Services

XCD.TO

-

XGI.TO
0.1%

Healthcare

XCD.TO

-

XGI.TO

-

Real Estate

XCD.TO

-

XGI.TO

-

Utilities

XCD.TO

-

XGI.TO
2.6%

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)

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

Often compared with XCD.TO:
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 XGI.TO:
XGI.TO vs. CEW.TOXGI.TO vs. SPGIXGI.TO vs. CIF.TOXGI.TO vs. XUU.TOXGI.TO vs. XDIV.TOXGI.TO vs. ZDJ.TOXGI.TO vs. EQL.TO

Return for Risk

XCD.TO vs. XGI.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: 1414
Omega Ratio Rank
XCD.TO Calmar Ratio Rank: 1414
Calmar Ratio Rank
XCD.TO Martin Ratio Rank: 1515
Martin Ratio Rank
XGI.TO
XGI.TO Risk / Return Rank: 4444
Overall Rank
XGI.TO Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
XGI.TO Sortino Ratio Rank: 4545
Sortino Ratio Rank
XGI.TO Omega Ratio Rank: 4444
Omega Ratio Rank
XGI.TO Calmar Ratio Rank: 4040
Calmar Ratio Rank
XGI.TO Martin Ratio Rank: 4949
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. XGI.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 S&P Global Industrials Index ETF (CAD-Hedged) (XGI.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

XCD.TOXGI.TODifference
Sharpe ratioReturn per unit of total volatility
0.24
1.17

-0.93

Sortino ratioReturn per unit of downside risk
0.47
1.77

-1.30

Omega ratioGain probability vs. loss probability

1.05

1.22

-0.17

Calmar ratioReturn relative to maximum drawdown

0.27

1.56

-1.28

Martin ratioReturn relative to average drawdown

0.69

6.01

-5.32

XCD.TO vs. XGI.TO - Sharpe Ratio Comparison

The current XCD.TO Sharpe Ratio is 0.24, which is lower than the XGI.TO Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of XCD.TO and XGI.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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Drawdowns

XCD.TO vs. XGI.TO - Drawdown Comparison

The maximum XCD.TO drawdown since its inception was -41.29%, roughly equal to the maximum XGI.TO drawdown of -42.61%. Use the drawdown chart below to compare losses from any high point for XCD.TO and XGI.TO.

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Drawdown Indicators

XCD.TOXGI.TODifference

Max Drawdown

Largest peak-to-trough decline

-41.29%

-42.61%

+1.32%

Max Drawdown (1Y)

Largest decline over 1 year

-14.97%

-11.74%

-3.23%

Max Drawdown (3Y)

Largest decline over 3 years

-19.30%

-16.14%

-3.16%

Max Drawdown (5Y)

Largest decline over 5 years

-35.09%

-24.78%

-10.31%

Max Drawdown (10Y)

Largest decline over 10 years

-41.29%

-42.61%

+1.32%

Current Drawdown

Current decline from peak

-8.12%

-4.54%

-3.58%

Average Drawdown

Average peak-to-trough decline

-8.72%

-5.75%

-2.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.93%

3.04%

+2.89%

Volatility

XCD.TO vs. XGI.TO - Volatility Comparison

The current volatility for iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged) (XCD.TO) is 4.37%, while iShares S&P Global Industrials Index ETF (CAD-Hedged) (XGI.TO) has a volatility of 5.09%. This indicates that XCD.TO experiences smaller price fluctuations and is considered to be less risky than XGI.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.TOXGI.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.37%

5.09%

-0.72%

Volatility (6M)

Calculated over the trailing 6-month period

13.67%

13.51%

+0.16%

Volatility (1Y)

Calculated over the trailing 1-year period

17.12%

15.61%

+1.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.61%

17.17%

+4.44%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

29.00%

23.98%

+5.02%

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

XCD.TO has a 0.65% expense ratio, which is lower than XGI.TO's 0.68% expense ratio.

Dividends

XCD.TO vs. XGI.TO - Dividend Comparison

XCD.TO's dividend yield for the trailing twelve months is around 8.86%, more than XGI.TO's 1.25% yield.

PositionTTM20252024202320222021202020192018201720162015
XCD.TO
iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged)		8.86%8.55%1.29%0.70%0.71%0.38%0.42%1.07%1.37%1.13%1.37%0.99%
XGI.TO
iShares S&P Global Industrials Index ETF (CAD-Hedged)		1.25%1.54%2.69%1.24%1.34%0.91%0.96%1.30%1.88%1.15%1.39%1.46%

Frequently Asked Questions

XCD.TO and XGI.TO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XCD.TO is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XCD.TO is cheaper with a 0.65% expense ratio, compared with 0.68% for XGI.TO.

XCD.TO is categorized as Consumer Discretionary Equities, while XGI.TO is Industrials Equities. Both ETFs track Morningstar Gbl GR CAD. Their fees differ too: 0.65% for XCD.TO and 0.68% for XGI.TO.

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