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XDG.TO vs. SPY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XDG.TO vs. SPY

Last updated Jun 26, 2026

XDG.TO (iShares Core MSCI Global Quality Dividend Index ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - XDG.TO is a Global Equities fund tracking the Morningstar Gbl GR CAD, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, XDG.TO returned 11.17%/yr vs 16.29%/yr for SPY. A 0.51 correlation means they provide meaningful diversification when combined. XDG.TO charges 0.22%/yr vs 0.09%/yr for SPY.

Performance

XDG.TO vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core MSCI Global Quality Dividend Index ETF (XDG.TO) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XDG.TO is traded in CAD, while SPY is traded in USD. To make them comparable, the SPY values have been converted to CAD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with XDG.TO having a 12.62% return and SPY slightly lower at 12.49%.

XDG.TO

1D
0.38%
1M
2.62%
YTD
12.62%
6M
11.02%
1Y
21.98%
3Y*
15.86%
5Y*
11.17%
10Y*
—

SPY

1D
0.30%
1M
1.12%
YTD
12.49%
6M
11.19%
1Y
26.78%
3Y*
24.07%
5Y*
16.29%
10Y*
16.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XDG.TO vs. SPY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XDG.TO
iShares Core MSCI Global Quality Dividend Index ETF		12.62%12.26%14.74%7.06%1.78%15.16%-1.68%17.32%0.95%2.14%
SPY
State Street SPDR S&P 500 ETF		12.53%12.34%35.46%23.17%-12.99%28.67%15.52%25.82%3.45%4.56%

Correlation

The correlation between XDG.TO and SPY is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.33

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

0.38

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

0.47

Correlation (All Time)
Calculated using the full available price history since Jun 14, 2017

0.51

The correlation between XDG.TO and SPY shifts across timeframes, from 0.33 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.

XDG.TO vs. SPY - Sectors Allocation Comparison

Sectors
XDG.TO
SPY

Healthcare

21.1%
8.3%

Consumer Defensive

14.5%
4.5%

Financial Services

13.7%
11.1%

Industrials

11.7%
7.8%

Energy

11.2%
3.1%

Consumer Cyclical

9.6%
9.9%

Technology

6.7%
39.0%

Utilities

5.8%
2.1%

Communication Services

3.2%
10.6%

Basic Materials

2.4%
1.7%

Real Estate

0.1%
1.8%

Healthcare

XDG.TO
21.1%
SPY
8.3%

Consumer Defensive

XDG.TO
14.5%
SPY
4.5%

Financial Services

XDG.TO
13.7%
SPY
11.1%

Industrials

XDG.TO
11.7%
SPY
7.8%

Energy

XDG.TO
11.2%
SPY
3.1%

Consumer Cyclical

XDG.TO
9.6%
SPY
9.9%

Technology

XDG.TO
6.7%
SPY
39.0%

Utilities

XDG.TO
5.8%
SPY
2.1%

Communication Services

XDG.TO
3.2%
SPY
10.6%

Basic Materials

XDG.TO
2.4%
SPY
1.7%

Real Estate

XDG.TO
0.1%
SPY
1.8%

Compare stocks, funds, or ETFs

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iShares Core MSCI Global Quality Dividend Index ETF

State Street SPDR S&P 500 ETF

Often compared with XDG.TO:
XDG.TO vs. XDIV.TOXDG.TO vs. XEQT.TOXDG.TO vs. XAW.TOXDG.TO vs. XDU.TOXDG.TO vs. XDGH.TOXDG.TO vs. CYH.TOXDG.TO vs. SCHD
Often compared with SPY:
SPY vs. QQQSPY vs. VOOSPY vs. BRK-BSPY vs. RSPSPY vs. VTISPY vs. SCHDSPY vs. GLD

Return for Risk

XDG.TO vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XDG.TO
XDG.TO Risk / Return Rank: 7171
Overall Rank
XDG.TO Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
XDG.TO Sortino Ratio Rank: 7878
Sortino Ratio Rank
XDG.TO Omega Ratio Rank: 7272
Omega Ratio Rank
XDG.TO Calmar Ratio Rank: 6666
Calmar Ratio Rank
XDG.TO Martin Ratio Rank: 6363
Martin Ratio Rank
SPY
SPY Risk / Return Rank: 6363
Overall Rank
SPY Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
SPY Sortino Ratio Rank: 6161
Sortino Ratio Rank
SPY Omega Ratio Rank: 6363
Omega Ratio Rank
SPY Calmar Ratio Rank: 5959
Calmar Ratio Rank
SPY Martin Ratio Rank: 7070
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.

XDG.TO vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Global Quality Dividend Index ETF (XDG.TO) and State Street SPDR S&P 500 ETF (SPY). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

XDG.TOSPYDifference
Sharpe ratioReturn per unit of total volatility
2.12
2.11

+0.01

Sortino ratioReturn per unit of downside risk
3.04
2.90

+0.14

Omega ratioGain probability vs. loss probability

1.37

1.37

0.00

Calmar ratioReturn relative to maximum drawdown

2.81

3.01

-0.20

Martin ratioReturn relative to average drawdown

9.95

11.25

-1.30

XDG.TO vs. SPY - Sharpe Ratio Comparison

The current XDG.TO Sharpe Ratio is 2.12, which is comparable to the SPY Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of XDG.TO and SPY, 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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Drawdowns

XDG.TO vs. SPY - Drawdown Comparison

The maximum XDG.TO drawdown since its inception was -27.08%, smaller than the maximum SPY drawdown of -46.39%. Use the drawdown chart below to compare losses from any high point for XDG.TO and SPY.

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Drawdown Indicators

XDG.TOSPYDifference

Max Drawdown

Largest peak-to-trough decline

-27.08%

-46.39%

+19.31%

Max Drawdown (1Y)

Largest decline over 1 year

-7.87%

-8.94%

+1.07%

Max Drawdown (3Y)

Largest decline over 3 years

-12.33%

-19.41%

+7.08%

Max Drawdown (5Y)

Largest decline over 5 years

-12.33%

-22.61%

+10.28%

Max Drawdown (10Y)

Largest decline over 10 years

—

-27.69%

—

Current Drawdown

Current decline from peak

0.00%

-0.96%

+0.96%

Average Drawdown

Average peak-to-trough decline

-3.12%

-7.96%

+4.84%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.21%

2.39%

-0.18%

Volatility

XDG.TO vs. SPY - Volatility Comparison

The current volatility for iShares Core MSCI Global Quality Dividend Index ETF (XDG.TO) is 2.64%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.09%. This indicates that XDG.TO experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XDG.TOSPYDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.64%

5.09%

-2.45%

Volatility (6M)

Calculated over the trailing 6-month period

8.23%

10.20%

-1.97%

Volatility (1Y)

Calculated over the trailing 1-year period

10.44%

12.77%

-2.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.11%

18.11%

-7.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.85%

19.01%

-5.16%

XDG.TO vs. SPY - Expense Ratio Comparison

XDG.TO has a 0.22% expense ratio, which is higher than SPY's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XDG.TO vs. SPY - Dividend Comparison

XDG.TO's dividend yield for the trailing twelve months is around 2.75%, more than SPY's 1.02% yield.

PositionTTM20252024202320222021202020192018201720162015
SPY
State Street SPDR S&P 500 ETF		1.02%1.07%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%
XDG.TO
iShares Core MSCI Global Quality Dividend Index ETF		2.75%2.92%2.96%3.13%3.27%2.97%3.27%3.18%3.47%1.67%0.00%0.00%

Frequently Asked Questions

XDG.TO and SPY have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SPY is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPY is cheaper with a 0.09% expense ratio, compared with 0.22% for XDG.TO.

XDG.TO is categorized as Global Equities, while SPY is S&P 500. XDG.TO tracks Morningstar Gbl GR CAD, while SPY tracks S&P 500 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.22% for XDG.TO and 0.09% for SPY.

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