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XCS.TO vs. AVUV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XCS.TO vs. AVUV

Last updated Jun 4, 2026

XCS.TO (iShares S&P/TSX SmallCap Index ETF) and AVUV (Avantis US Small Cap Value ETF) are both exchange-traded funds - XCS.TO is a Canada Equities fund tracking the Morningstar Canada Sml GR CAD, while AVUV is a Small Cap Value Equities fund actively managed by Avantis. XCS.TO is passively managed, while AVUV is actively managed. Over the past 5 years, XCS.TO returned 12.30%/yr vs 13.88%/yr for AVUV. A 0.55 correlation means they provide meaningful diversification when combined. XCS.TO charges 0.60%/yr vs 0.25%/yr for AVUV.

Performance

XCS.TO vs. AVUV - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX SmallCap Index ETF (XCS.TO) and Avantis US Small Cap Value ETF (AVUV). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, XCS.TO achieves a 23.53% return, which is significantly higher than AVUV's 19.47% return.

XCS.TO

1D
-1.30%
1M
4.71%
YTD
23.53%
6M
21.57%
1Y
62.19%
3Y*
29.24%
5Y*
12.30%
10Y*
9.94%

AVUV

1D
-0.57%
1M
3.23%
YTD
19.47%
6M
16.78%
1Y
38.24%
3Y*
20.63%
5Y*
13.88%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XCS.TO vs. AVUV - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XCS.TO
iShares S&P/TSX SmallCap Index ETF		23.53%43.37%18.11%4.17%-8.95%7.46%13.10%4.29%
AVUV
Avantis US Small Cap Value ETF		19.47%2.51%18.67%20.11%1.87%40.91%4.63%6.10%

Correlation

The correlation between XCS.TO and AVUV is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.38

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

0.48

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

0.54

Correlation (All Time)
Calculated using the full available price history since Sep 27, 2019

0.55

The correlation between XCS.TO and AVUV shifts across timeframes, from 0.38 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.

XCS.TO vs. AVUV - Sectors Allocation Comparison

Sectors
XCS.TO
AVUV

Basic Materials

30.3%
4.9%

Energy

24.5%
18.2%

Industrials

12.3%
13.9%

Real Estate

9.7%
0.7%

Financial Services

5.0%
25.8%

Healthcare

4.8%
4.2%

Technology

4.3%
7.0%

Consumer Cyclical

3.7%
18.0%

Consumer Defensive

2.7%
4.5%

Utilities

1.7%
0.1%

Communication Services

1.0%
2.8%

Basic Materials

XCS.TO
30.3%
AVUV
4.9%

Energy

XCS.TO
24.5%
AVUV
18.2%

Industrials

XCS.TO
12.3%
AVUV
13.9%

Real Estate

XCS.TO
9.7%
AVUV
0.7%

Financial Services

XCS.TO
5.0%
AVUV
25.8%

Healthcare

XCS.TO
4.8%
AVUV
4.2%

Technology

XCS.TO
4.3%
AVUV
7.0%

Consumer Cyclical

XCS.TO
3.7%
AVUV
18.0%

Consumer Defensive

XCS.TO
2.7%
AVUV
4.5%

Utilities

XCS.TO
1.7%
AVUV
0.1%

Communication Services

XCS.TO
1.0%
AVUV
2.8%

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/TSX SmallCap Index ETF

Avantis US Small Cap Value ETF

Often compared with XCS.TO:
XCS.TO vs. XCV.TOXCS.TO vs. XMD.TOXCS.TO vs. XCSR.TOXCS.TO vs. XEI.TOXCS.TO vs. VBRXCS.TO vs. XUS.TOXCS.TO vs. VEQT.TO
Often compared with AVUV:
AVUV vs. VBRAVUV vs. VTIAVUV vs. IWMAVUV vs. IJRAVUV vs. DFSVAVUV vs. VIOVAVUV vs. AVUVX

Return for Risk

XCS.TO vs. AVUV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XCS.TO
XCS.TO Risk / Return Rank: 7979
Overall Rank
XCS.TO Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
XCS.TO Sortino Ratio Rank: 7272
Sortino Ratio Rank
XCS.TO Omega Ratio Rank: 8282
Omega Ratio Rank
XCS.TO Calmar Ratio Rank: 8181
Calmar Ratio Rank
XCS.TO Martin Ratio Rank: 7676
Martin Ratio Rank
AVUV
AVUV Risk / Return Rank: 6767
Overall Rank
AVUV Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
AVUV Sortino Ratio Rank: 6363
Sortino Ratio Rank
AVUV Omega Ratio Rank: 5858
Omega Ratio Rank
AVUV Calmar Ratio Rank: 8484
Calmar Ratio Rank
AVUV Martin Ratio Rank: 7272
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.

XCS.TO vs. AVUV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX SmallCap Index ETF (XCS.TO) and Avantis US Small Cap Value ETF (AVUV). 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.

XCS.TOAVUVDifference
Sharpe ratioReturn per unit of total volatility
2.89
2.22

+0.67

Sortino ratioReturn per unit of downside risk
3.30
3.13

+0.17

Omega ratioGain probability vs. loss probability

1.50

1.39

+0.12

Calmar ratioReturn relative to maximum drawdown

4.29

4.91

-0.63

Martin ratioReturn relative to average drawdown

14.67

16.91

-2.24

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

XCS.TO vs. AVUV - Sharpe Ratio Comparison

The current XCS.TO Sharpe Ratio is 2.89, which is higher than the AVUV Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of XCS.TO and AVUV, 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

XCS.TOAVUVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.89

2.22

+0.67

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.61

0.68

-0.07

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.49

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.24

0.65

-0.41

Drawdowns

XCS.TO vs. AVUV - Drawdown Comparison

The maximum XCS.TO drawdown since its inception was -61.18%, which is greater than AVUV's maximum drawdown of -44.29%. Use the drawdown chart below to compare losses from any high point for XCS.TO and AVUV.

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Drawdown Indicators

XCS.TOAVUVDifference

Max Drawdown

Largest peak-to-trough decline

-61.18%

-44.29%

-16.89%

Max Drawdown (1Y)

Largest decline over 1 year

-14.58%

-7.82%

-6.76%

Max Drawdown (3Y)

Largest decline over 3 years

-15.54%

-27.37%

+11.83%

Max Drawdown (5Y)

Largest decline over 5 years

-34.63%

-27.37%

-7.26%

Max Drawdown (10Y)

Largest decline over 10 years

-50.44%

—

—

Current Drawdown

Current decline from peak

-1.30%

-0.57%

-0.73%

Average Drawdown

Average peak-to-trough decline

-16.96%

-6.88%

-10.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.25%

2.27%

+1.98%

Volatility

XCS.TO vs. AVUV - Volatility Comparison

iShares S&P/TSX SmallCap Index ETF (XCS.TO) has a higher volatility of 4.56% compared to Avantis US Small Cap Value ETF (AVUV) at 4.09%. This indicates that XCS.TO's price experiences larger fluctuations and is considered to be riskier than AVUV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XCS.TOAVUVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.56%

4.09%

+0.47%

Volatility (6M)

Calculated over the trailing 6-month period

17.35%

11.60%

+5.75%

Volatility (1Y)

Calculated over the trailing 1-year period

21.66%

17.36%

+4.30%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.42%

20.53%

-0.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.41%

25.67%

-5.26%

XCS.TO vs. AVUV - Expense Ratio Comparison

XCS.TO has a 0.60% expense ratio, which is higher than AVUV's 0.25% expense ratio.

Dividends

XCS.TO vs. AVUV - Dividend Comparison

XCS.TO's dividend yield for the trailing twelve months is around 1.03%, less than AVUV's 1.29% yield.

PositionTTM20252024202320222021202020192018201720162015
AVUV
Avantis US Small Cap Value ETF		1.29%1.58%1.61%1.65%1.74%1.28%1.21%0.38%0.00%0.00%0.00%0.00%
XCS.TO
iShares S&P/TSX SmallCap Index ETF		1.03%1.36%1.73%2.59%2.07%1.51%1.78%2.27%2.12%1.81%1.46%2.34%

Frequently Asked Questions

XCS.TO and AVUV have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, AVUV is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

AVUV is cheaper with a 0.25% expense ratio, compared with 0.60% for XCS.TO.

XCS.TO is categorized as Canada Equities, while AVUV is Small Cap Value Equities. They also come from different issuers: iShares and Avantis. Their fees differ too: 0.60% for XCS.TO and 0.25% for AVUV.

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