XDIV.TO vs. CMVP.TO

Last updated Jun 4, 2026

XDIV.TO (iShares Core MSCI Canadian Quality Dividend Index ETF) and CMVP.TO (HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units) are both exchange-traded funds - XDIV.TO is a Dividend fund tracking the MSCI Canada High Dividend Yield 10% Security Capped Index, while CMVP.TO is a Canada Equities fund tracking the Solactive Canada Dividend Elite Champions Index. Both are passively managed. Over the past year, XDIV.TO returned 38.61% vs 25.73% for CMVP.TO. A 0.65 correlation means they provide meaningful diversification when combined. XDIV.TO charges 0.11%/yr vs 0.00%/yr for CMVP.TO.

Performance

XDIV.TO vs. CMVP.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) and HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units (CMVP.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XDIV.TO achieves a 19.17% return, which is significantly higher than CMVP.TO's 11.91% return.

XDIV.TO

• 1D: 0.19%
• 1M: 3.65%
• YTD: 19.17%
• 6M: 18.94%
• 1Y: 38.61%
• 3Y*: 22.97%
• 5Y*: 16.42%
• 10Y*: —

CMVP.TO

• 1D: -0.29%
• 1M: 2.40%
• YTD: 11.91%
• 6M: 14.09%
• 1Y: 25.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XDIV.TO vs. CMVP.TO - Yearly Performance Comparison

	2026 (YTD)	2025
XDIV.TO iShares Core MSCI Canadian Quality Dividend Index ETF	19.17%	21.80%
CMVP.TO HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units	11.91%	21.46%

Correlation

The correlation between XDIV.TO and CMVP.TO is 0.61, 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	0.61
Correlation (All Time) Calculated using the full available price history since Jan 28, 2025	0.65

The correlation between XDIV.TO and CMVP.TO has been stable across timeframes, ranging from 0.61 to 0.65 - a consistent structural relationship.

Return for Risk

XDIV.TO vs. CMVP.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XDIV.TO

XDIV.TO Risk / Return Rank: 98
XDIV.TO Sharpe Ratio Rank: 97
XDIV.TO Sortino Ratio Rank: 98
XDIV.TO Omega Ratio Rank: 98
XDIV.TO Calmar Ratio Rank: 98
XDIV.TO Martin Ratio Rank: 98

CMVP.TO

CMVP.TO Risk / Return Rank: 79
CMVP.TO Sharpe Ratio Rank: 81
CMVP.TO Sortino Ratio Rank: 80
CMVP.TO Omega Ratio Rank: 80
CMVP.TO Calmar Ratio Rank: 72
CMVP.TO Martin Ratio Rank: 81

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.

XDIV.TO vs. CMVP.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) and HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units (CMVP.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.

	XDIV.TO	CMVP.TO	Difference
Sharpe ratio: Return per unit of total volatility	4.94	2.66	+2.28
Sortino ratio: Return per unit of downside risk	7.29	3.66	+3.63
Omega ratio: Gain probability vs. loss probability	2.03	1.49	+0.54
Calmar ratio: Return relative to maximum drawdown	16.64	3.62	+13.02
Martin ratio: Return relative to average drawdown	56.55	16.15	+40.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XDIV.TO vs. CMVP.TO - Sharpe Ratio Comparison

The current XDIV.TO Sharpe Ratio is 4.94, which is higher than the CMVP.TO Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of XDIV.TO and CMVP.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XDIV.TO	CMVP.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.94	2.66	+2.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.57	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	2.32	-1.51

Drawdowns

XDIV.TO vs. CMVP.TO - Drawdown Comparison

The maximum XDIV.TO drawdown since its inception was -41.30%, which is greater than CMVP.TO's maximum drawdown of -8.86%. Use the drawdown chart below to compare losses from any high point for XDIV.TO and CMVP.TO.

Drawdown Indicators

	XDIV.TO	CMVP.TO	Difference
Max Drawdown Largest peak-to-trough decline	-41.30%	-8.86%	-32.44%
Max Drawdown (1Y) Largest decline over 1 year	-2.33%	-7.14%	+4.81%
Max Drawdown (3Y) Largest decline over 3 years	-10.53%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.60%	—	—
Current Drawdown Current decline from peak	-0.09%	-1.42%	+1.33%
Average Drawdown Average peak-to-trough decline	-4.25%	-1.09%	-3.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.69%	1.60%	-0.91%

Volatility

XDIV.TO vs. CMVP.TO - Volatility Comparison

The current volatility for iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) is 2.81%, while HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units (CMVP.TO) has a volatility of 3.00%. This indicates that XDIV.TO experiences smaller price fluctuations and is considered to be less risky than CMVP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDIV.TO	CMVP.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.81%	3.00%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	6.36%	7.92%	-1.56%
Volatility (1Y) Calculated over the trailing 1-year period	7.85%	9.72%	-1.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.53%	11.08%	-0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.01%	11.08%	+4.93%

XDIV.TO vs. CMVP.TO - Expense Ratio Comparison

XDIV.TO has a 0.11% expense ratio, which is higher than CMVP.TO's 0.00% 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

XDIV.TO vs. CMVP.TO - Dividend Comparison

XDIV.TO's dividend yield for the trailing twelve months is around 3.28%, more than CMVP.TO's 2.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMVP.TO HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units	2.72%	2.70%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XDIV.TO iShares Core MSCI Canadian Quality Dividend Index ETF	3.28%	3.81%	4.29%	4.20%	3.95%	3.58%	4.58%	4.02%	4.85%	1.82%

Frequently Asked Questions

Can I hold both XDIV.TO and CMVP.TO in my portfolio?

XDIV.TO and CMVP.TO have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XDIV.TO or CMVP.TO?

On fees, CMVP.TO is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XDIV.TO or CMVP.TO?

CMVP.TO is cheaper with a 0.00% expense ratio, compared with 0.11% for XDIV.TO.

What is the main difference between XDIV.TO and CMVP.TO?

XDIV.TO is categorized as Dividend, while CMVP.TO is Canada Equities. XDIV.TO tracks MSCI Canada High Dividend Yield 10% Security Capped Index, while CMVP.TO tracks Solactive Canada Dividend Elite Champions Index. They also come from different issuers: iShares and Hamilton Capital. Their fees differ too: 0.11% for XDIV.TO and 0.00% for CMVP.TO.