XCV.TO vs. VCN.TO
XCV.TO (iShares Canadian Value Index ETF) and VCN.TO (Vanguard FTSE Canada All Cap Index ETF) are both Canada Equities funds - XCV.TO tracks the Morningstar Canada GR CAD while VCN.TO tracks the FTSE Canada All Cap Domestic Index. Both are passively managed. Over the past 10 years, XCV.TO returned 13.20%/yr vs 12.42%/yr for VCN.TO. A 0.70 correlation means they provide meaningful diversification when combined. XCV.TO charges 0.55%/yr vs 0.06%/yr for VCN.TO.
Performance
XCV.TO vs. VCN.TO - 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 VCN.TO's 10.48% return. Over the past 10 years, XCV.TO has outperformed VCN.TO with an annualized return of 13.20%, while VCN.TO has yielded a comparatively lower 12.42% annualized 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%
VCN.TO
- 1D
- -1.03%
- 1M
- 3.61%
- YTD
- 10.48%
- 6M
- 12.01%
- 1Y
- 33.06%
- 3Y*
- 23.42%
- 5Y*
- 14.85%
- 10Y*
- 12.42%
XCV.TO vs. VCN.TO - 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% |
VCN.TO Vanguard FTSE Canada All Cap Index ETF | 10.48% | 30.20% | 22.14% | 12.26% | -5.78% | 25.63% | 4.81% | 22.06% | -9.11% | 8.44% |
Correlation
The correlation between XCV.TO and VCN.TO 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 | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Aug 14, 2013 | 0.70 |
The correlation between XCV.TO and VCN.TO shifts across timeframes, from 0.67 (1 year) to 0.82 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XCV.TO vs. VCN.TO — Risk / Return Rank
XCV.TO
VCN.TO
XCV.TO vs. VCN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Value Index ETF (XCV.TO) and Vanguard FTSE Canada All Cap Index ETF (VCN.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.TO | VCN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.32 | ||
| Sortino ratioReturn per unit of downside risk | +3.19 | ||
| Omega ratioGain probability vs. loss probability | 2.03 | 1.48 | +0.55 |
| Calmar ratioReturn relative to maximum drawdown | 11.53 | 3.65 | +7.88 |
| Martin ratioReturn relative to average drawdown | 43.47 | 17.03 | +26.43 |
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 | VCN.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.97 | 2.64 | +2.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.39 | 1.15 | +0.25 |
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 | 0.77 | -0.23 |
Drawdowns
XCV.TO vs. VCN.TO - Drawdown Comparison
The maximum XCV.TO drawdown since its inception was -52.49%, which is greater than VCN.TO's maximum drawdown of -37.32%. Use the drawdown chart below to compare losses from any high point for XCV.TO and VCN.TO.
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Drawdown Indicators
| XCV.TO | VCN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.49% | -37.32% | -15.17% |
Max Drawdown (1Y)Largest decline over 1 year | -3.86% | -9.11% | +5.25% |
Max Drawdown (3Y)Largest decline over 3 years | -9.71% | -12.24% | +2.53% |
Max Drawdown (5Y)Largest decline over 5 years | -18.08% | -16.12% | -1.96% |
Max Drawdown (10Y)Largest decline over 10 years | -41.18% | -37.32% | -3.86% |
Current DrawdownCurrent decline from peak | -0.89% | -1.03% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -6.67% | -3.90% | -2.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 1.95% | -0.93% |
Volatility
XCV.TO vs. VCN.TO - Volatility Comparison
iShares Canadian Value Index ETF (XCV.TO) and Vanguard FTSE Canada All Cap Index ETF (VCN.TO) have volatilities of 3.27% and 3.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XCV.TO | VCN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.27% | 3.41% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 7.65% | 10.27% | -2.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.96% | 12.57% | -3.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.87% | 13.03% | -0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 14.98% | +0.56% |
XCV.TO vs. VCN.TO - Expense Ratio Comparison
XCV.TO has a 0.55% expense ratio, which is higher than VCN.TO's 0.06% expense ratio.
Dividends
XCV.TO vs. VCN.TO - Dividend Comparison
XCV.TO's dividend yield for the trailing twelve months is around 2.29%, more than VCN.TO's 2.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VCN.TO Vanguard FTSE Canada All Cap Index ETF | 2.00% | 2.27% | 2.69% | 2.99% | 3.15% | 2.48% | 2.70% | 2.85% | 2.80% | 2.29% | 2.34% | 2.65% |
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 VCN.TO 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, VCN.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VCN.TO is cheaper with a 0.06% expense ratio, compared with 0.55% for XCV.TO.
XCV.TO tracks Morningstar Canada GR CAD, while VCN.TO tracks FTSE Canada All Cap Domestic Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.55% for XCV.TO and 0.06% for VCN.TO.
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