XCV.TO vs. CRQ.NEO
XCV.TO (iShares Canadian Value Index ETF) and CRQ.NEO (iShares Canadian Fundamental Index ETF) are both Canada Equities funds from iShares - XCV.TO tracks the Morningstar Canada GR CAD while CRQ.NEO tracks the FTSE RAFI Canada Index. Both are passively managed. Over the past 10 years, XCV.TO returned 13.20%/yr vs 13.44%/yr for CRQ.NEO. A 0.79 correlation means they provide meaningful diversification when combined. XCV.TO charges 0.55%/yr vs 0.72%/yr for CRQ.NEO.
Performance
XCV.TO vs. CRQ.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, XCV.TO achieves a 19.17% return, which is significantly higher than CRQ.NEO's 15.93% return. Both investments have delivered pretty close results over the past 10 years, with XCV.TO having a 13.20% annualized return and CRQ.NEO not far ahead at 13.44%.
XCV.TO
- 1D
- -0.02%
- 1M
- 4.70%
- YTD
- 19.17%
- 6M
- 19.26%
- 1Y
- 44.26%
- 3Y*
- 27.30%
- 5Y*
- 17.83%
- 10Y*
- 13.20%
CRQ.NEO
- 1D
- -0.32%
- 1M
- 3.58%
- YTD
- 15.93%
- 6M
- 18.90%
- 1Y
- 42.87%
- 3Y*
- 26.01%
- 5Y*
- 17.59%
- 10Y*
- 13.44%
XCV.TO vs. CRQ.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XCV.TO iShares Canadian Value Index ETF | 19.17% | 32.17% | 21.26% | 9.47% | 1.87% | 32.71% | -2.56% | 18.02% | -11.15% | 8.75% |
CRQ.NEO iShares Canadian Fundamental Index ETF | 15.93% | 31.87% | 22.17% | 9.76% | 0.89% | 33.95% | -2.73% | 19.66% | -10.18% | 6.98% |
Correlation
The correlation between XCV.TO and CRQ.NEO is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2009 | 0.79 |
The correlation between XCV.TO and CRQ.NEO shifts across timeframes, from 0.67 (1 year) to 0.79 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XCV.TO vs. CRQ.NEO — Risk / Return Rank
XCV.TO
CRQ.NEO
XCV.TO vs. CRQ.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Value Index ETF (XCV.TO) and iShares Canadian Fundamental Index ETF (CRQ.NEO). 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.
| XCV.TO | CRQ.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 2.03 | 2.00 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 11.53 | 6.30 | +5.23 |
| Martin ratioReturn relative to average drawdown | 43.47 | 30.78 | +12.69 |
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
| XCV.TO | CRQ.NEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.97 | 4.41 | +0.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.39 | 1.43 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.85 | 0.83 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.69 | -0.15 |
Drawdowns
XCV.TO vs. CRQ.NEO - Drawdown Comparison
The maximum XCV.TO drawdown since its inception was -52.49%, which is greater than CRQ.NEO's maximum drawdown of -41.75%. Use the drawdown chart below to compare losses from any high point for XCV.TO and CRQ.NEO.
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Drawdown Indicators
| XCV.TO | CRQ.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.49% | -41.75% | -10.74% |
Max Drawdown (1Y)Largest decline over 1 year | -3.86% | -6.84% | +2.98% |
Max Drawdown (3Y)Largest decline over 3 years | -9.71% | -11.70% | +1.99% |
Max Drawdown (5Y)Largest decline over 5 years | -18.08% | -15.82% | -2.26% |
Max Drawdown (10Y)Largest decline over 10 years | -41.18% | -41.75% | +0.57% |
Current DrawdownCurrent decline from peak | -0.89% | -0.32% | -0.57% |
Average DrawdownAverage peak-to-trough decline | -6.67% | -5.62% | -1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 1.40% | -0.38% |
Volatility
XCV.TO vs. CRQ.NEO - Volatility Comparison
iShares Canadian Value Index ETF (XCV.TO) has a higher volatility of 3.27% compared to iShares Canadian Fundamental Index ETF (CRQ.NEO) at 2.99%. This indicates that XCV.TO's price experiences larger fluctuations and is considered to be riskier than CRQ.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XCV.TO | CRQ.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.27% | 2.99% | +0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 7.65% | 8.04% | -0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.96% | 9.76% | -0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.87% | 12.41% | +0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 16.27% | -0.73% |
XCV.TO vs. CRQ.NEO - Expense Ratio Comparison
XCV.TO has a 0.55% expense ratio, which is lower than CRQ.NEO's 0.72% expense ratio.
Dividends
XCV.TO vs. CRQ.NEO - Dividend Comparison
XCV.TO's dividend yield for the trailing twelve months is around 2.29%, more than CRQ.NEO's 1.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CRQ.NEO iShares Canadian Fundamental Index ETF | 1.90% | 2.18% | 2.72% | 2.97% | 2.90% | 2.17% | 2.98% | 2.71% | 2.46% | 1.91% | 1.89% | 3.09% |
XCV.TO iShares Canadian Value Index ETF | 2.29% | 2.71% | 3.72% | 3.88% | 3.18% | 2.11% | 3.35% | 3.06% | 3.13% | 2.40% | 2.50% | 3.14% |
Frequently Asked Questions
XCV.TO and CRQ.NEO have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XCV.TO is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XCV.TO is cheaper with a 0.55% expense ratio, compared with 0.72% for CRQ.NEO.
XCV.TO tracks Morningstar Canada GR CAD, while CRQ.NEO tracks FTSE RAFI Canada Index. Their fees differ too: 0.55% for XCV.TO and 0.72% for CRQ.NEO.
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