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XCV.TO vs. TEC.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XCV.TO vs. TEC.TO

Last updated Jun 4, 2026

XCV.TO (iShares Canadian Value Index ETF) and TEC.TO (TD Global Technology Leaders Index ETF) are both exchange-traded funds - XCV.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD, while TEC.TO is a Technology Equities fund tracking the Solactive Global Technology Leaders Index (CA NTR). Both are passively managed. Over the past 5 years, XCV.TO returned 17.83%/yr vs 20.41%/yr for TEC.TO. At a 0.29 correlation, their price movements are largely independent. XCV.TO charges 0.55%/yr vs 0.39%/yr for TEC.TO.

Performance

XCV.TO vs. TEC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Canadian Value Index ETF (XCV.TO) and TD Global Technology Leaders Index ETF (TEC.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, XCV.TO achieves a 19.17% return, which is significantly higher than TEC.TO's 17.96% return.

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%

TEC.TO

1D
-0.70%
1M
12.30%
YTD
17.96%
6M
15.29%
1Y
40.60%
3Y*
31.18%
5Y*
20.41%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XCV.TO vs. TEC.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XCV.TO
iShares Canadian Value Index ETF		19.17%32.17%21.26%9.47%1.87%32.71%-2.56%4.96%
TEC.TO
TD Global Technology Leaders Index ETF		17.96%15.45%45.60%53.28%-32.19%25.46%47.54%12.64%

Correlation

The correlation between XCV.TO and TEC.TO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.23

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

0.26

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

0.31

Correlation (All Time)
Calculated using the full available price history since May 10, 2019

0.29

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Canadian Value Index ETF

TD Global Technology Leaders Index ETF

Often compared with XCV.TO:
XCV.TO vs. XDIV.TOXCV.TO vs. XCS.TOXCV.TO vs. XEQT.TOXCV.TO vs. VCE.TOXCV.TO vs. DGROXCV.TO vs. FCUV.TOXCV.TO vs. CDZ.TO
Often compared with TEC.TO:
TEC.TO vs. QQC.TOTEC.TO vs. XQQ.TOTEC.TO vs. VFV.TOTEC.TO vs. QQQTEC.TO vs. XEQT.TOTEC.TO vs. ZQQ.TOTEC.TO vs. ZNQ.TO

Return for Risk

XCV.TO vs. TEC.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XCV.TO
XCV.TO Risk / Return Rank: 9797
Overall Rank
XCV.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
XCV.TO Sortino Ratio Rank: 9797
Sortino Ratio Rank
XCV.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XCV.TO Calmar Ratio Rank: 9797
Calmar Ratio Rank
XCV.TO Martin Ratio Rank: 9797
Martin Ratio Rank
TEC.TO
TEC.TO Risk / Return Rank: 5858
Overall Rank
TEC.TO Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
TEC.TO Sortino Ratio Rank: 6666
Sortino Ratio Rank
TEC.TO Omega Ratio Rank: 6666
Omega Ratio Rank
TEC.TO Calmar Ratio Rank: 4646
Calmar Ratio Rank
TEC.TO Martin Ratio Rank: 4242
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.

XCV.TO vs. TEC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Value Index ETF (XCV.TO) and TD Global Technology Leaders Index ETF (TEC.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.

XCV.TOTEC.TODifference
Sharpe ratioReturn per unit of total volatility
4.97
2.42

+2.54

Sortino ratioReturn per unit of downside risk
6.62
3.11

+3.51

Omega ratioGain probability vs. loss probability

2.03

1.41

+0.62

Calmar ratioReturn relative to maximum drawdown

11.53

2.33

+9.20

Martin ratioReturn relative to average drawdown

43.47

6.92

+36.55

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

XCV.TO vs. TEC.TO - Sharpe Ratio Comparison

The current XCV.TO Sharpe Ratio is 4.97, which is higher than the TEC.TO Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of XCV.TO and TEC.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

XCV.TOTEC.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

4.97

2.42

+2.54

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.39

0.92

+0.47

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.85

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.54

0.97

-0.43

Drawdowns

XCV.TO vs. TEC.TO - Drawdown Comparison

The maximum XCV.TO drawdown since its inception was -52.49%, which is greater than TEC.TO's maximum drawdown of -35.31%. Use the drawdown chart below to compare losses from any high point for XCV.TO and TEC.TO.

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Drawdown Indicators

XCV.TOTEC.TODifference

Max Drawdown

Largest peak-to-trough decline

-52.49%

-35.31%

-17.18%

Max Drawdown (1Y)

Largest decline over 1 year

-3.86%

-17.52%

+13.66%

Max Drawdown (3Y)

Largest decline over 3 years

-9.71%

-25.01%

+15.30%

Max Drawdown (5Y)

Largest decline over 5 years

-18.08%

-35.31%

+17.23%

Max Drawdown (10Y)

Largest decline over 10 years

-41.18%

—

—

Current Drawdown

Current decline from peak

-0.89%

-0.70%

-0.19%

Average Drawdown

Average peak-to-trough decline

-6.67%

-8.04%

+1.37%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.02%

5.89%

-4.87%

Volatility

XCV.TO vs. TEC.TO - Volatility Comparison

The current volatility for iShares Canadian Value Index ETF (XCV.TO) is 3.27%, while TD Global Technology Leaders Index ETF (TEC.TO) has a volatility of 4.75%. This indicates that XCV.TO experiences smaller price fluctuations and is considered to be less risky than TEC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XCV.TOTEC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.27%

4.75%

-1.48%

Volatility (6M)

Calculated over the trailing 6-month period

7.65%

12.86%

-5.21%

Volatility (1Y)

Calculated over the trailing 1-year period

8.96%

16.86%

-7.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.87%

22.32%

-9.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.54%

23.78%

-8.24%

XCV.TO vs. TEC.TO - Expense Ratio Comparison

XCV.TO has a 0.55% expense ratio, which is higher than TEC.TO's 0.39% expense ratio.

Dividends

XCV.TO vs. TEC.TO - Dividend Comparison

XCV.TO's dividend yield for the trailing twelve months is around 2.29%, more than TEC.TO's 0.10% yield.

PositionTTM20252024202320222021202020192018201720162015
TEC.TO
TD Global Technology Leaders Index ETF		0.10%0.13%0.12%0.21%0.31%0.22%0.33%0.28%0.00%0.00%0.00%0.00%
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 TEC.TO have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, TEC.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

TEC.TO is cheaper with a 0.39% expense ratio, compared with 0.55% for XCV.TO.

XCV.TO is categorized as Canada Equities, while TEC.TO is Technology Equities. XCV.TO tracks Morningstar Canada GR CAD, while TEC.TO tracks Solactive Global Technology Leaders Index (CA NTR). They also come from different issuers: iShares and TD. Their fees differ too: 0.55% for XCV.TO and 0.39% for TEC.TO.

Portfolio Optimizer

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