XCH.TO vs. XSP.TO
XCH.TO (iShares China Index ETF) and XSP.TO (iShares Core S&P 500 Index ETF (CAD-Hedged)) are both exchange-traded funds - XCH.TO is a China Equities fund tracking the Morningstar China GR CAD, while XSP.TO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, XCH.TO returned 3.34%/yr vs 13.79%/yr for XSP.TO. At a 0.45 correlation, their price movements are largely independent. XCH.TO charges 0.87%/yr vs 0.09%/yr for XSP.TO.
Performance
XCH.TO vs. XSP.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XCH.TO achieves a -6.01% return, which is significantly lower than XSP.TO's 9.64% return. Over the past 10 years, XCH.TO has underperformed XSP.TO with an annualized return of 3.34%, while XSP.TO has yielded a comparatively higher 13.79% annualized return.
XCH.TO
- 1D
- -1.76%
- 1M
- -0.68%
- YTD
- -6.01%
- 6M
- -8.84%
- 1Y
- 2.81%
- 3Y*
- 12.55%
- 5Y*
- -0.79%
- 10Y*
- 3.34%
XSP.TO
- 1D
- -0.73%
- 1M
- 4.98%
- YTD
- 9.64%
- 6M
- 9.50%
- 1Y
- 25.13%
- 3Y*
- 20.28%
- 5Y*
- 12.18%
- 10Y*
- 13.79%
XCH.TO vs. XSP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XCH.TO iShares China Index ETF | -6.01% | 22.48% | 39.50% | -14.76% | -15.40% | -20.56% | 7.17% | 8.11% | -6.28% | 27.28% |
XSP.TO iShares Core S&P 500 Index ETF (CAD-Hedged) | 9.64% | 15.68% | 23.39% | 24.33% | -19.32% | 27.85% | 15.17% | 29.35% | -6.26% | 20.71% |
Correlation
The correlation between XCH.TO and XSP.TO is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2010 | 0.45 |
The correlation between XCH.TO and XSP.TO shifts across timeframes, from 0.32 (5 years) to 0.45 (all time), reflecting how their relationship changes across market environments.
XCH.TO vs. XSP.TO - Sectors Allocation Comparison
Sectors
XCH.TO
XSP.TO
Financial Services
Consumer Cyclical
Communication Services
Technology
Energy
Basic Materials
Industrials
Healthcare
Real Estate
Consumer Defensive
Utilities
Financial Services
XCH.TO
XSP.TO
Consumer Cyclical
XCH.TO
XSP.TO
Communication Services
XCH.TO
XSP.TO
Technology
XCH.TO
XSP.TO
Energy
XCH.TO
XSP.TO
Basic Materials
XCH.TO
XSP.TO
Industrials
XCH.TO
XSP.TO
Healthcare
XCH.TO
XSP.TO
Real Estate
XCH.TO
XSP.TO
Consumer Defensive
XCH.TO
XSP.TO
Utilities
XCH.TO
XSP.TO
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Return for Risk
XCH.TO vs. XSP.TO — Risk / Return Rank
XCH.TO
XSP.TO
XCH.TO vs. XSP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares China Index ETF (XCH.TO) and iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.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.
| XCH.TO | XSP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.00 | ||
| Sortino ratioReturn per unit of downside risk | -2.62 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.39 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 0.17 | 2.68 | -2.51 |
| Martin ratioReturn relative to average drawdown | 0.35 | 12.40 | -12.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XCH.TO | XSP.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.15 | 2.15 | -2.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.03 | 0.73 | -0.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.13 | 0.76 | -0.63 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.13 | 0.37 | -0.24 |
Drawdowns
XCH.TO vs. XSP.TO - Drawdown Comparison
The maximum XCH.TO drawdown since its inception was -58.02%, roughly equal to the maximum XSP.TO drawdown of -57.82%. Use the drawdown chart below to compare losses from any high point for XCH.TO and XSP.TO.
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Drawdown Indicators
| XCH.TO | XSP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.02% | -57.82% | -0.20% |
Max Drawdown (1Y)Largest decline over 1 year | -16.51% | -9.41% | -7.10% |
Max Drawdown (3Y)Largest decline over 3 years | -27.28% | -18.77% | -8.51% |
Max Drawdown (5Y)Largest decline over 5 years | -50.32% | -25.44% | -24.88% |
Max Drawdown (10Y)Largest decline over 10 years | -58.02% | -36.05% | -21.97% |
Current DrawdownCurrent decline from peak | -21.53% | -0.73% | -20.80% |
Average DrawdownAverage peak-to-trough decline | -20.41% | -12.11% | -8.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.15% | 2.03% | +6.12% |
Volatility
XCH.TO vs. XSP.TO - Volatility Comparison
iShares China Index ETF (XCH.TO) has a higher volatility of 6.91% compared to iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) at 3.25%. This indicates that XCH.TO's price experiences larger fluctuations and is considered to be riskier than XSP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XCH.TO | XSP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.91% | 3.25% | +3.66% |
Volatility (6M)Calculated over the trailing 6-month period | 13.42% | 8.99% | +4.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.20% | 11.75% | +7.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.81% | 16.75% | +13.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.73% | 18.19% | +7.54% |
XCH.TO vs. XSP.TO - Expense Ratio Comparison
XCH.TO has a 0.87% expense ratio, which is higher than XSP.TO's 0.09% expense ratio.
Dividends
XCH.TO vs. XSP.TO - Dividend Comparison
XCH.TO's dividend yield for the trailing twelve months is around 2.25%, more than XSP.TO's 1.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XCH.TO iShares China Index ETF | 2.25% | 2.11% | 1.54% | 2.86% | 2.35% | 1.50% | 2.17% | 2.50% | 2.45% | 2.41% | 2.21% | 2.58% |
XSP.TO iShares Core S&P 500 Index ETF (CAD-Hedged) | 1.12% | 1.23% | 1.09% | 1.18% | 1.37% | 1.00% | 1.31% | 1.73% | 1.84% | 1.47% | 1.75% | 1.86% |
Frequently Asked Questions
XCH.TO and XSP.TO have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XSP.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSP.TO is cheaper with a 0.09% expense ratio, compared with 0.87% for XCH.TO.
XCH.TO is categorized as China Equities, while XSP.TO is S&P 500. XCH.TO tracks Morningstar China GR CAD, while XSP.TO tracks S&P 500 Index. Their fees differ too: 0.87% for XCH.TO and 0.09% for XSP.TO.
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