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XDIV.TO vs. RY.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XDIV.TO vs. RY.TO

Last updated Jun 4, 2026

XDIV.TO (iShares Core MSCI Canadian Quality Dividend Index ETF) is Dividend fund tracking the MSCI Canada High Dividend Yield 10% Security Capped Index, while RY.TO (Royal Bank of Canada) is a stock. Over the past 5 years, XDIV.TO returned 16.42%/yr vs 20.37%/yr for RY.TO. A 0.71 correlation means they provide meaningful diversification when combined.

Performance

XDIV.TO vs. RY.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 Royal Bank of Canada (RY.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XDIV.TO achieves a 19.17% return, which is significantly higher than RY.TO's 15.19% 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*
—

RY.TO

1D
0.47%
1M
9.67%
YTD
15.19%
6M
23.28%
1Y
56.56%
3Y*
33.65%
5Y*
20.37%
10Y*
17.23%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ETF		19.17%24.92%19.56%11.71%0.29%32.25%-7.81%24.84%-10.04%8.48%
RY.TO
Royal Bank of Canada		15.19%39.60%34.37%9.80%-1.52%33.09%6.52%14.33%-5.50%11.64%

Correlation

The correlation between XDIV.TO and RY.TO is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.47

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

0.64

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

0.69

Correlation (All Time)
Calculated using the full available price history since Jun 16, 2017

0.71

Over the past year, the correlation between XDIV.TO and RY.TO has dropped to 0.47 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

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iShares Core MSCI Canadian Quality Dividend Index ETF

Royal Bank of Canada

Often compared with XDIV.TO:
XDIV.TO vs. VDY.TOXDIV.TO vs. XEI.TOXDIV.TO vs. XDV.TOXDIV.TO vs. XEQT.TOXDIV.TO vs. HDIV.TOXDIV.TO vs. XIU.TOXDIV.TO vs. CDZ.TO
Often compared with RY.TO:
RY.TO vs. TD.TORY.TO vs. VDY.TORY.TO vs. BMO.TORY.TO vs. CNR.TORY.TO vs. BNS.TORY.TO vs. CM.TORY.TO vs. ZEB.TO

Return for Risk

XDIV.TO vs. RY.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: 9898
Overall Rank
XDIV.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
XDIV.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
XDIV.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XDIV.TO Calmar Ratio Rank: 9898
Calmar Ratio Rank
XDIV.TO Martin Ratio Rank: 9898
Martin Ratio Rank
RY.TO
RY.TO Risk / Return Rank: 9797
Overall Rank
RY.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
RY.TO Sortino Ratio Rank: 9999
Sortino Ratio Rank
RY.TO Omega Ratio Rank: 9898
Omega Ratio Rank
RY.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
RY.TO Martin Ratio Rank: 9797
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.

XDIV.TO vs. RY.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 Royal Bank of Canada (RY.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.TORY.TODifference
Sharpe ratioReturn per unit of total volatility
4.94
4.15

+0.79

Sortino ratioReturn per unit of downside risk
7.29
5.98

+1.31

Omega ratioGain probability vs. loss probability

2.03

1.76

+0.27

Calmar ratioReturn relative to maximum drawdown

16.64

7.00

+9.64

Martin ratioReturn relative to average drawdown

56.55

25.96

+30.59

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. RY.TO - Sharpe Ratio Comparison

The current XDIV.TO Sharpe Ratio is 4.94, which is comparable to the RY.TO Sharpe Ratio of 4.15. The chart below compares the historical Sharpe Ratios of XDIV.TO and RY.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.

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Sharpe Ratios by Period

XDIV.TORY.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

4.94

4.15

+0.79

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.57

1.38

+0.19

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.00

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.81

0.45

+0.35

Drawdowns

XDIV.TO vs. RY.TO - Drawdown Comparison

The maximum XDIV.TO drawdown since its inception was -41.30%, smaller than the maximum RY.TO drawdown of -70.56%. Use the drawdown chart below to compare losses from any high point for XDIV.TO and RY.TO.

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Drawdown Indicators

XDIV.TORY.TODifference

Max Drawdown

Largest peak-to-trough decline

-41.30%

-70.56%

+29.26%

Max Drawdown (1Y)

Largest decline over 1 year

-2.33%

-8.12%

+5.79%

Max Drawdown (3Y)

Largest decline over 3 years

-10.53%

-16.00%

+5.47%

Max Drawdown (5Y)

Largest decline over 5 years

-17.60%

-21.21%

+3.61%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.84%

—

Current Drawdown

Current decline from peak

-0.09%

0.00%

-0.09%

Average Drawdown

Average peak-to-trough decline

-4.25%

-20.93%

+16.68%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.69%

2.19%

-1.50%

Volatility

XDIV.TO vs. RY.TO - Volatility Comparison

The current volatility for iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) is 2.81%, while Royal Bank of Canada (RY.TO) has a volatility of 4.60%. This indicates that XDIV.TO experiences smaller price fluctuations and is considered to be less risky than RY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XDIV.TORY.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.81%

4.60%

-1.79%

Volatility (6M)

Calculated over the trailing 6-month period

6.36%

10.56%

-4.20%

Volatility (1Y)

Calculated over the trailing 1-year period

7.85%

13.70%

-5.85%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.53%

14.91%

-4.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.01%

17.26%

-1.25%

Dividends

XDIV.TO vs. RY.TO - Dividend Comparison

XDIV.TO's dividend yield for the trailing twelve months is around 3.28%, more than RY.TO's 2.39% yield.

PositionTTM20252024202320222021202020192018201720162015
RY.TO
Royal Bank of Canada		2.39%2.58%3.23%3.99%3.90%3.22%4.10%3.96%4.03%3.39%3.57%4.15%
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%0.00%0.00%

Frequently Asked Questions

XDIV.TO and RY.TO have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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