XCV.TO vs. WXM.TO
XCV.TO (iShares Canadian Value Index ETF) and WXM.TO (CI Morningstar Canada Momentum Index ETF) are both exchange-traded funds - XCV.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD, while WXM.TO is a Momentum fund tracking the Morningstar Canada Target Momentum Index. Both are passively managed. Over the past 10 years, XCV.TO returned 13.20%/yr vs 15.24%/yr for WXM.TO. A 0.58 correlation means they provide meaningful diversification when combined. XCV.TO charges 0.55%/yr vs 0.65%/yr for WXM.TO.
Performance
XCV.TO vs. WXM.TO - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both stocks are quite close, with XCV.TO having a 19.17% return and WXM.TO slightly lower at 18.83%. Over the past 10 years, XCV.TO has underperformed WXM.TO with an annualized return of 13.20%, while WXM.TO has yielded a comparatively higher 15.24% 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%
WXM.TO
- 1D
- -0.33%
- 1M
- 4.70%
- YTD
- 18.83%
- 6M
- 22.68%
- 1Y
- 46.31%
- 3Y*
- 29.82%
- 5Y*
- 18.57%
- 10Y*
- 15.24%
XCV.TO vs. WXM.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% |
WXM.TO CI Morningstar Canada Momentum Index ETF | 18.83% | 38.16% | 33.93% | 3.35% | -0.42% | 20.98% | 4.61% | 31.48% | -4.88% | 10.06% |
Correlation
The correlation between XCV.TO and WXM.TO is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Feb 16, 2012 | 0.58 |
The correlation between XCV.TO and WXM.TO shifts across timeframes, from 0.51 (1 year) to 0.69 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XCV.TO vs. WXM.TO — Risk / Return Rank
XCV.TO
WXM.TO
XCV.TO vs. WXM.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Value Index ETF (XCV.TO) and CI Morningstar Canada Momentum Index ETF (WXM.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 | WXM.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.87 | ||
| Sortino ratioReturn per unit of downside risk | +2.62 | ||
| Omega ratioGain probability vs. loss probability | 2.03 | 1.55 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 11.53 | 4.90 | +6.63 |
| Martin ratioReturn relative to average drawdown | 43.47 | 21.82 | +21.64 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| XCV.TO | WXM.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.97 | 3.10 | +1.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.39 | 1.18 | +0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.85 | 0.91 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.91 | -0.37 |
Drawdowns
XCV.TO vs. WXM.TO - Drawdown Comparison
The maximum XCV.TO drawdown since its inception was -52.49%, which is greater than WXM.TO's maximum drawdown of -40.45%. Use the drawdown chart below to compare losses from any high point for XCV.TO and WXM.TO.
Loading charts...
Drawdown Indicators
| XCV.TO | WXM.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.49% | -40.45% | -12.04% |
Max Drawdown (1Y)Largest decline over 1 year | -3.86% | -9.49% | +5.63% |
Max Drawdown (3Y)Largest decline over 3 years | -9.71% | -12.13% | +2.42% |
Max Drawdown (5Y)Largest decline over 5 years | -18.08% | -15.87% | -2.21% |
Max Drawdown (10Y)Largest decline over 10 years | -41.18% | -40.45% | -0.73% |
Current DrawdownCurrent decline from peak | -0.89% | -0.33% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -6.67% | -4.48% | -2.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 2.13% | -1.11% |
Volatility
XCV.TO vs. WXM.TO - Volatility Comparison
The current volatility for iShares Canadian Value Index ETF (XCV.TO) is 3.27%, while CI Morningstar Canada Momentum Index ETF (WXM.TO) has a volatility of 4.06%. This indicates that XCV.TO experiences smaller price fluctuations and is considered to be less risky than WXM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XCV.TO | WXM.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.27% | 4.06% | -0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 7.65% | 11.86% | -4.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.96% | 15.02% | -6.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.87% | 15.85% | -2.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 16.78% | -1.24% |
XCV.TO vs. WXM.TO - Expense Ratio Comparison
XCV.TO has a 0.55% expense ratio, which is lower than WXM.TO's 0.65% expense ratio.
Dividends
XCV.TO vs. WXM.TO - Dividend Comparison
XCV.TO's dividend yield for the trailing twelve months is around 2.29%, more than WXM.TO's 1.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
WXM.TO CI Morningstar Canada Momentum Index ETF | 1.15% | 1.25% | 1.27% | 1.38% | 2.25% | 1.04% | 0.78% | 0.94% | 1.44% | 1.38% | 1.58% | 1.51% |
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 WXM.TO have a correlation of 0.51, 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 0.65% for WXM.TO.
XCV.TO is categorized as Canada Equities, while WXM.TO is Momentum. XCV.TO tracks Morningstar Canada GR CAD, while WXM.TO tracks Morningstar Canada Target Momentum Index. They also come from different issuers: iShares and CI Global Asset Management. Their fees differ too: 0.55% for XCV.TO and 0.65% for WXM.TO.
Find the right allocation for XCV.TO and WXM.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer