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XCSR.TO vs. VCE.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XCSR.TO vs. VCE.TO

Last updated Jun 5, 2026

XCSR.TO (iShares ESG Advanced MSCI Canada Index ETF) and VCE.TO (Vanguard FTSE Canada Index ETF) are both Canada Equities funds - XCSR.TO tracks the Morningstar Canada GR CAD while VCE.TO tracks the FTSE Canada Domestic Index. Both are passively managed. Over the past 5 years, XCSR.TO returned 13.66%/yr vs 14.72%/yr for VCE.TO. Their correlation of 0.87 suggests significant overlap in exposure. XCSR.TO charges 0.17%/yr vs 0.06%/yr for VCE.TO.

Performance

XCSR.TO vs. VCE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares ESG Advanced MSCI Canada Index ETF (XCSR.TO) and Vanguard FTSE Canada Index ETF (VCE.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, XCSR.TO achieves a 7.96% return, which is significantly lower than VCE.TO's 11.48% return.

XCSR.TO

1D
1.26%
1M
6.36%
YTD
7.96%
6M
7.56%
1Y
32.34%
3Y*
25.22%
5Y*
13.66%
10Y*
—

VCE.TO

1D
1.31%
1M
5.01%
YTD
11.48%
6M
10.47%
1Y
31.35%
3Y*
22.98%
5Y*
14.72%
10Y*
12.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XCSR.TO vs. VCE.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
XCSR.TO
iShares ESG Advanced MSCI Canada Index ETF		7.96%35.35%23.27%15.18%-14.41%22.30%4,511.52%
VCE.TO
Vanguard FTSE Canada Index ETF		11.48%26.39%21.43%12.26%-5.20%28.59%22.05%

Correlation

The correlation between XCSR.TO and VCE.TO is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.93

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

0.92

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

0.91

Correlation (All Time)
Calculated using the full available price history since Apr 23, 2020

0.87

The correlation between XCSR.TO and VCE.TO has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.

XCSR.TO vs. VCE.TO - Sectors Allocation Comparison

Sectors
XCSR.TO
VCE.TO

Financial Services

49.4%
37.4%

Basic Materials

17.5%
15.4%

Technology

14.2%
8.2%

Industrials

6.1%
10.6%

Consumer Defensive

5.7%
2.9%

Consumer Cyclical

3.0%
3.4%

Real Estate

1.5%
0.2%

Communication Services

1.2%
1.5%

Utilities

1.1%
1.9%

Healthcare

0.2%

-

Energy

-

18.4%

Financial Services

XCSR.TO
49.4%
VCE.TO
37.4%

Basic Materials

XCSR.TO
17.5%
VCE.TO
15.4%

Technology

XCSR.TO
14.2%
VCE.TO
8.2%

Industrials

XCSR.TO
6.1%
VCE.TO
10.6%

Consumer Defensive

XCSR.TO
5.7%
VCE.TO
2.9%

Consumer Cyclical

XCSR.TO
3.0%
VCE.TO
3.4%

Real Estate

XCSR.TO
1.5%
VCE.TO
0.2%

Communication Services

XCSR.TO
1.2%
VCE.TO
1.5%

Utilities

XCSR.TO
1.1%
VCE.TO
1.9%

Healthcare

XCSR.TO
0.2%
VCE.TO

-

Energy

XCSR.TO

-

VCE.TO
18.4%

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iShares ESG Advanced MSCI Canada Index ETF

Vanguard FTSE Canada Index ETF

Often compared with XCSR.TO:
XCSR.TO vs. XESG.TOXCSR.TO vs. XCS.TOXCSR.TO vs. XUSR.TOXCSR.TO vs. XEN.TOXCSR.TO vs. XMD.TOXCSR.TO vs. XIT.TOXCSR.TO vs. CSIQ
Often compared with VCE.TO:
VCE.TO vs. VDY.TOVCE.TO vs. VCN.TOVCE.TO vs. XIC.TOVCE.TO vs. VFV.TOVCE.TO vs. VEQT.TOVCE.TO vs. ZCN.TOVCE.TO vs. VXC.TO

Return for Risk

XCSR.TO vs. VCE.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XCSR.TO
XCSR.TO Risk / Return Rank: 6464
Overall Rank
XCSR.TO Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
XCSR.TO Sortino Ratio Rank: 6363
Sortino Ratio Rank
XCSR.TO Omega Ratio Rank: 6464
Omega Ratio Rank
XCSR.TO Calmar Ratio Rank: 6060
Calmar Ratio Rank
XCSR.TO Martin Ratio Rank: 6565
Martin Ratio Rank
VCE.TO
VCE.TO Risk / Return Rank: 8080
Overall Rank
VCE.TO Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
VCE.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
VCE.TO Omega Ratio Rank: 7878
Omega Ratio Rank
VCE.TO Calmar Ratio Rank: 7878
Calmar Ratio Rank
VCE.TO Martin Ratio Rank: 8686
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.

XCSR.TO vs. VCE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Advanced MSCI Canada Index ETF (XCSR.TO) and Vanguard FTSE Canada Index ETF (VCE.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.

XCSR.TOVCE.TODifference
Sharpe ratioReturn per unit of total volatility
2.15
2.55

-0.40

Sortino ratioReturn per unit of downside risk
2.89
3.38

-0.50

Omega ratioGain probability vs. loss probability

1.38

1.46

-0.08

Calmar ratioReturn relative to maximum drawdown

2.92

3.89

-0.97

Martin ratioReturn relative to average drawdown

11.63

18.14

-6.50

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

XCSR.TO vs. VCE.TO - Sharpe Ratio Comparison

The current XCSR.TO Sharpe Ratio is 2.15, which is comparable to the VCE.TO Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of XCSR.TO and VCE.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

XCSR.TOVCE.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.15

2.55

-0.40

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.98

1.16

-0.17

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.85

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.08

0.78

-0.69

Drawdowns

XCSR.TO vs. VCE.TO - Drawdown Comparison

The maximum XCSR.TO drawdown since its inception was -23.56%, smaller than the maximum VCE.TO drawdown of -35.92%. Use the drawdown chart below to compare losses from any high point for XCSR.TO and VCE.TO.

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Drawdown Indicators

XCSR.TOVCE.TODifference

Max Drawdown

Largest peak-to-trough decline

-23.56%

-35.92%

+12.36%

Max Drawdown (1Y)

Largest decline over 1 year

-11.12%

-8.09%

-3.03%

Max Drawdown (3Y)

Largest decline over 3 years

-12.14%

-12.16%

+0.02%

Max Drawdown (5Y)

Largest decline over 5 years

-23.56%

-15.90%

-7.66%

Max Drawdown (10Y)

Largest decline over 10 years

—

-35.92%

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-5.12%

-3.73%

-1.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.79%

1.73%

+1.06%

Volatility

XCSR.TO vs. VCE.TO - Volatility Comparison

iShares ESG Advanced MSCI Canada Index ETF (XCSR.TO) has a higher volatility of 4.09% compared to Vanguard FTSE Canada Index ETF (VCE.TO) at 3.62%. This indicates that XCSR.TO's price experiences larger fluctuations and is considered to be riskier than VCE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XCSR.TOVCE.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.09%

3.62%

+0.47%

Volatility (6M)

Calculated over the trailing 6-month period

12.50%

10.07%

+2.43%

Volatility (1Y)

Calculated over the trailing 1-year period

15.11%

12.36%

+2.75%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.95%

12.79%

+1.16%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1,367.87%

14.99%

+1,352.88%

XCSR.TO vs. VCE.TO - Expense Ratio Comparison

XCSR.TO has a 0.17% expense ratio, which is higher than VCE.TO's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XCSR.TO vs. VCE.TO - Dividend Comparison

XCSR.TO's dividend yield for the trailing twelve months is around 1.63%, less than VCE.TO's 2.14% yield.

PositionTTM20252024202320222021202020192018201720162015
VCE.TO
Vanguard FTSE Canada Index ETF		2.14%2.42%2.84%3.16%3.21%2.61%2.93%3.01%3.21%2.57%2.64%2.98%
XCSR.TO
iShares ESG Advanced MSCI Canada Index ETF		1.63%1.73%2.20%2.61%2.78%1.53%0.81%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

With a correlation of 0.93, XCSR.TO and VCE.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, VCE.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VCE.TO is cheaper with a 0.06% expense ratio, compared with 0.17% for XCSR.TO.

XCSR.TO tracks Morningstar Canada GR CAD, while VCE.TO tracks FTSE Canada Domestic Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.17% for XCSR.TO and 0.06% for VCE.TO.

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