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

XCS.TO vs. VEQT.TO

Last updated Apr 1, 2026

Compare and contrast key facts about iShares S&P/TSX SmallCap Index ETF (XCS.TO) and Vanguard All-Equity ETF Portfolio (VEQT.TO).

XCS.TO and VEQT.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XCS.TO is a passively managed fund by iShares that tracks the performance of the Morningstar Canada Sml GR CAD. It was launched on May 14, 2007. VEQT.TO is an actively managed fund by Vanguard. It was launched on Jan 29, 2019.

Performance

XCS.TO vs. VEQT.TO - 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 Vanguard All-Equity ETF Portfolio (VEQT.TO). The values are adjusted to include any dividend payments, if applicable.

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XCS.TO vs. VEQT.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XCS.TO
iShares S&P/TSX SmallCap Index ETF		11.18%43.37%18.11%4.17%-8.95%7.46%13.10%7.39%
VEQT.TO
Vanguard All-Equity ETF Portfolio		0.63%20.37%24.73%16.70%-10.76%19.62%11.42%12.94%

Returns By Period

In the year-to-date period, XCS.TO achieves a 11.18% return, which is significantly higher than VEQT.TO's 0.63% return.

XCS.TO

1D
3.12%
1M
-9.03%
YTD
11.18%
6M
17.78%
1Y
58.25%
3Y*
23.53%
5Y*
11.40%
10Y*
10.37%

VEQT.TO

1D
2.72%
1M
-4.40%
YTD
0.63%
6M
3.57%
1Y
21.64%
3Y*
18.51%
5Y*
12.03%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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iShares S&P/TSX SmallCap Index ETF

Vanguard All-Equity ETF Portfolio

Often compared with XCS.TO:
XCS.TO vs. XCV.TOXCS.TO vs. XCSR.TOXCS.TO vs. XMD.TOXCS.TO vs. VBRXCS.TO vs. XEI.TOXCS.TO vs. XUS.TOXCS.TO vs. AVUV
Often compared with VEQT.TO:
VEQT.TO vs. XEQT.TOVEQT.TO vs. VFV.TOVEQT.TO vs. VGRO.TOVEQT.TO vs. VOOVEQT.TO vs. ZEQT.TOVEQT.TO vs. SPYVEQT.TO vs. VBAL.TO

XCS.TO vs. VEQT.TO - Expense Ratio Comparison

XCS.TO has a 0.60% expense ratio, which is higher than VEQT.TO's 0.24% expense ratio.

XCS.TO
iShares S&P/TSX SmallCap Index ETF
VEQT.TO
Vanguard All-Equity ETF Portfolio

Return for Risk

XCS.TO vs. VEQT.TO — 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: 9494
Overall Rank
XCS.TO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
XCS.TO Sortino Ratio Rank: 9393
Sortino Ratio Rank
XCS.TO Omega Ratio Rank: 9494
Omega Ratio Rank
XCS.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
XCS.TO Martin Ratio Rank: 9494
Martin Ratio Rank
VEQT.TO
VEQT.TO Risk / Return Rank: 7979
Overall Rank
VEQT.TO Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
VEQT.TO Sortino Ratio Rank: 7878
Sortino Ratio Rank
VEQT.TO Omega Ratio Rank: 8181
Omega Ratio Rank
VEQT.TO Calmar Ratio Rank: 7676
Calmar Ratio Rank
VEQT.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.

XCS.TO vs. VEQT.TO - 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 Vanguard All-Equity ETF Portfolio (VEQT.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.

XCS.TOVEQT.TODifference

Sharpe ratio

Return per unit of total volatility

2.41

1.37

+1.04

Sortino ratio

Return per unit of downside risk

2.84

1.89

+0.95

Omega ratio

Gain probability vs. loss probability

1.44

1.30

+0.14

Calmar ratio

Return relative to maximum drawdown

4.03

1.88

+2.15

Martin ratio

Return relative to average drawdown

14.05

8.54

+5.51

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. VEQT.TO - Sharpe Ratio Comparison

The current XCS.TO Sharpe Ratio is 2.41, which is higher than the VEQT.TO Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of XCS.TO and VEQT.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

XCS.TOVEQT.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.41

1.37

+1.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.56

0.95

-0.39

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.51

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.21

0.81

-0.60

Correlation

The correlation between XCS.TO and VEQT.TO is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

XCS.TO vs. VEQT.TO - Dividend Comparison

XCS.TO's dividend yield for the trailing twelve months is around 1.14%, less than VEQT.TO's 1.41% yield.

TTM20252024202320222021202020192018201720162015
XCS.TO
iShares S&P/TSX SmallCap Index ETF		1.14%1.36%1.73%2.59%2.07%1.51%1.78%2.27%2.12%1.81%1.46%2.34%
VEQT.TO
Vanguard All-Equity ETF Portfolio		1.41%1.42%1.58%1.88%2.09%1.40%1.48%1.42%0.00%0.00%0.00%0.00%

Drawdowns

XCS.TO vs. VEQT.TO - Drawdown Comparison

The maximum XCS.TO drawdown since its inception was -61.18%, which is greater than VEQT.TO's maximum drawdown of -30.45%. Use the drawdown chart below to compare losses from any high point for XCS.TO and VEQT.TO.

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Drawdown Indicators

XCS.TOVEQT.TODifference

Max Drawdown

Largest peak-to-trough decline

-61.18%

-30.45%

-30.73%

Max Drawdown (1Y)

Largest decline over 1 year

-14.58%

-11.87%

-2.71%

Max Drawdown (5Y)

Largest decline over 5 years

-34.63%

-18.32%

-16.31%

Max Drawdown (10Y)

Largest decline over 10 years

-50.44%

—

—

Current Drawdown

Current decline from peak

-9.66%

-4.98%

-4.68%

Average Drawdown

Average peak-to-trough decline

-17.08%

-3.78%

-13.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.18%

2.62%

+1.56%

Volatility

XCS.TO vs. VEQT.TO - Volatility Comparison

iShares S&P/TSX SmallCap Index ETF (XCS.TO) has a higher volatility of 8.78% compared to Vanguard All-Equity ETF Portfolio (VEQT.TO) at 5.90%. This indicates that XCS.TO's price experiences larger fluctuations and is considered to be riskier than VEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XCS.TOVEQT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

8.78%

5.90%

+2.88%

Volatility (6M)

Calculated over the trailing 6-month period

19.82%

9.38%

+10.44%

Volatility (1Y)

Calculated over the trailing 1-year period

24.32%

15.87%

+8.45%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.42%

12.79%

+7.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.49%

15.84%

+4.65%