XCV.TO vs. XDV.TO
XCV.TO (iShares Canadian Value Index ETF) and XDV.TO (iShares Canadian Select Dividend Index ETF) are both Canada Equities funds from iShares tracking the Morningstar Canada GR CAD. Both are passively managed. Over the past 10 years, XCV.TO returned 13.20%/yr vs 11.99%/yr for XDV.TO. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.55% expense ratio.
Performance
XCV.TO vs. XDV.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 XDV.TO's 16.45% return. Over the past 10 years, XCV.TO has outperformed XDV.TO with an annualized return of 13.20%, while XDV.TO has yielded a comparatively lower 11.99% 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%
XDV.TO
- 1D
- -0.09%
- 1M
- 4.74%
- YTD
- 16.45%
- 6M
- 20.26%
- 1Y
- 39.82%
- 3Y*
- 23.34%
- 5Y*
- 13.46%
- 10Y*
- 11.99%
XCV.TO vs. XDV.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% |
XDV.TO iShares Canadian Select Dividend Index ETF | 16.45% | 29.37% | 21.28% | 8.00% | -8.57% | 31.30% | -0.38% | 21.30% | -12.48% | 11.06% |
Correlation
The correlation between XCV.TO and XDV.TO is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2006 | 0.77 |
The correlation between XCV.TO and XDV.TO has been stable across timeframes, ranging from 0.75 to 0.80 - a consistent structural relationship.
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Return for Risk
XCV.TO vs. XDV.TO — Risk / Return Rank
XCV.TO
XDV.TO
XCV.TO vs. XDV.TO - 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 Select Dividend Index ETF (XDV.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 | XDV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.96 | ||
| Omega ratioGain probability vs. loss probability | 2.03 | 2.02 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 11.53 | 8.35 | +3.18 |
| Martin ratioReturn relative to average drawdown | 43.47 | 41.42 | +2.05 |
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 | XDV.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.97 | 5.11 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.39 | 1.26 | +0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.85 | 0.82 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.59 | -0.05 |
Drawdowns
XCV.TO vs. XDV.TO - Drawdown Comparison
The maximum XCV.TO drawdown since its inception was -52.49%, which is greater than XDV.TO's maximum drawdown of -48.56%. Use the drawdown chart below to compare losses from any high point for XCV.TO and XDV.TO.
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Drawdown Indicators
| XCV.TO | XDV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.49% | -48.56% | -3.93% |
Max Drawdown (1Y)Largest decline over 1 year | -3.86% | -4.79% | +0.93% |
Max Drawdown (3Y)Largest decline over 3 years | -9.71% | -12.99% | +3.28% |
Max Drawdown (5Y)Largest decline over 5 years | -18.08% | -20.52% | +2.44% |
Max Drawdown (10Y)Largest decline over 10 years | -41.18% | -39.08% | -2.10% |
Current DrawdownCurrent decline from peak | -0.89% | -0.18% | -0.71% |
Average DrawdownAverage peak-to-trough decline | -6.67% | -6.78% | +0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 0.96% | +0.06% |
Volatility
XCV.TO vs. XDV.TO - Volatility Comparison
iShares Canadian Value Index ETF (XCV.TO) has a higher volatility of 3.27% compared to iShares Canadian Select Dividend Index ETF (XDV.TO) at 2.79%. This indicates that XCV.TO's price experiences larger fluctuations and is considered to be riskier than XDV.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.TO | XDV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.27% | 2.79% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 7.65% | 6.53% | +1.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.96% | 7.83% | +1.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.87% | 10.71% | +2.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 14.63% | +0.91% |
XCV.TO vs. XDV.TO - Expense Ratio Comparison
Both XCV.TO and XDV.TO have an expense ratio of 0.55%.
Dividends
XCV.TO vs. XDV.TO - Dividend Comparison
XCV.TO's dividend yield for the trailing twelve months is around 2.29%, less than XDV.TO's 3.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XDV.TO iShares Canadian Select Dividend Index ETF | 3.36% | 3.46% | 4.34% | 4.62% | 4.49% | 3.82% | 4.78% | 4.21% | 4.92% | 3.65% | 3.91% | 4.75% |
Frequently Asked Questions
XCV.TO and XDV.TO have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.55% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XCV.TO and XDV.TO have the same expense ratio: 0.55% per year.
Both ETFs track Morningstar Canada GR CAD.
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