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

XCV.TO vs. TPU.TO

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Canadian Value Index ETF (XCV.TO) and TD U.S. Equity Index ETF (TPU.TO).

XCV.TO and TPU.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XCV.TO is a passively managed fund by iShares that tracks the performance of the Morningstar Canada GR CAD. It was launched on Nov 6, 2006. TPU.TO is a passively managed fund by TD that tracks the performance of the Solactive US Large Cap CAD Index. It was launched on Mar 22, 2016. Both XCV.TO and TPU.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XCV.TO vs. TPU.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 U.S. Equity Index ETF (TPU.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)202520242023202220212020201920182017
XCV.TO
iShares Canadian Value Index ETF		8.06%32.17%21.26%9.47%1.87%32.71%-2.56%18.02%-11.15%8.75%
TPU.TO
TD U.S. Equity Index ETF		-3.13%12.69%34.82%24.24%-14.31%26.02%18.73%25.02%3.03%13.31%

Returns By Period

In the year-to-date period, XCV.TO achieves a 8.06% return, which is significantly higher than TPU.TO's -3.13% return. Over the past 10 years, XCV.TO has underperformed TPU.TO with an annualized return of 12.78%, while TPU.TO has yielded a comparatively higher 14.49% annualized return.

XCV.TO

1D
1.34%
1M
0.26%
YTD
8.06%
6M
13.36%
1Y
37.67%
3Y*
23.19%
5Y*
17.62%
10Y*
12.78%

TPU.TO

1D
2.81%
1M
-3.04%
YTD
-3.13%
6M
-2.10%
1Y
14.10%
3Y*
19.42%
5Y*
13.47%
10Y*
14.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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 U.S. Equity 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. CDZ.TOXCV.TO vs. QQQ
Often compared with TPU.TO:
TPU.TO vs. VFV.TOTPU.TO vs. TTP.TOTPU.TO vs. ZSP.TOTPU.TO vs. VOOTPU.TO vs. VUN.TOTPU.TO vs. XUU.TOTPU.TO vs. XUS.TO

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

XCV.TO has a 0.55% expense ratio, which is higher than TPU.TO's 0.06% expense ratio.

XCV.TO
iShares Canadian Value Index ETF
TPU.TO
TD U.S. Equity Index ETF

Return for Risk

XCV.TO vs. TPU.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: 9898
Sharpe Ratio Rank
XCV.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
XCV.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XCV.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
XCV.TO Martin Ratio Rank: 9898
Martin Ratio Rank
TPU.TO
TPU.TO Risk / Return Rank: 4848
Overall Rank
TPU.TO Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
TPU.TO Sortino Ratio Rank: 4343
Sortino Ratio Rank
TPU.TO Omega Ratio Rank: 5050
Omega Ratio Rank
TPU.TO Calmar Ratio Rank: 5252
Calmar Ratio Rank
TPU.TO Martin Ratio Rank: 5050
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. TPU.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 U.S. Equity Index ETF (TPU.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.TOTPU.TODifference

Sharpe ratio

Return per unit of total volatility

3.27

0.76

+2.51

Sortino ratio

Return per unit of downside risk

4.00

1.14

+2.86

Omega ratio

Gain probability vs. loss probability

1.73

1.18

+0.55

Calmar ratio

Return relative to maximum drawdown

3.86

1.21

+2.65

Martin ratio

Return relative to average drawdown

22.08

4.56

+17.52

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. TPU.TO - Sharpe Ratio Comparison

The current XCV.TO Sharpe Ratio is 3.27, which is higher than the TPU.TO Sharpe Ratio of 0.76. The chart below compares the historical Sharpe Ratios of XCV.TO and TPU.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

XCV.TOTPU.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.27

0.76

+2.51

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.38

0.88

+0.49

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.83

0.88

-0.05

Sharpe Ratio (All Time)

Calculated using the full available price history

0.51

0.88

-0.37

Correlation

The correlation between XCV.TO and TPU.TO is 0.41, 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

XCV.TO vs. TPU.TO - Dividend Comparison

XCV.TO's dividend yield for the trailing twelve months is around 2.53%, more than TPU.TO's 0.98% yield.

TTM20252024202320222021202020192018201720162015
XCV.TO
iShares Canadian Value Index ETF		2.53%2.71%3.72%3.88%3.18%2.11%3.35%3.06%3.13%2.40%2.50%3.14%
TPU.TO
TD U.S. Equity Index ETF		0.98%0.96%0.90%1.22%1.34%0.99%1.23%1.23%1.57%1.59%1.33%0.00%

Drawdowns

XCV.TO vs. TPU.TO - Drawdown Comparison

The maximum XCV.TO drawdown since its inception was -52.49%, which is greater than TPU.TO's maximum drawdown of -27.96%. Use the drawdown chart below to compare losses from any high point for XCV.TO and TPU.TO.

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Drawdown Indicators

XCV.TOTPU.TODifference

Max Drawdown

Largest peak-to-trough decline

-52.49%

-27.96%

-24.53%

Max Drawdown (1Y)

Largest decline over 1 year

-9.71%

-12.65%

+2.94%

Max Drawdown (5Y)

Largest decline over 5 years

-18.08%

-23.73%

+5.65%

Max Drawdown (10Y)

Largest decline over 10 years

-41.18%

-27.96%

-13.22%

Current Drawdown

Current decline from peak

-0.35%

-6.12%

+5.77%

Average Drawdown

Average peak-to-trough decline

-6.73%

-4.01%

-2.72%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.70%

3.35%

-1.65%

Volatility

XCV.TO vs. TPU.TO - Volatility Comparison

The current volatility for iShares Canadian Value Index ETF (XCV.TO) is 3.54%, while TD U.S. Equity Index ETF (TPU.TO) has a volatility of 5.23%. This indicates that XCV.TO experiences smaller price fluctuations and is considered to be less risky than TPU.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.TOTPU.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.54%

5.23%

-1.69%

Volatility (6M)

Calculated over the trailing 6-month period

7.21%

9.65%

-2.44%

Volatility (1Y)

Calculated over the trailing 1-year period

11.58%

18.62%

-7.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.88%

15.32%

-2.44%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.55%

16.60%

-1.05%