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XEI.TO vs. VGG.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XEI.TO vs. VGG.TO

Last updated Jun 13, 2026

XEI.TO (iShares S&P/TSX Composite High Dividend Index ETF) and VGG.TO (Vanguard U.S. Dividend Appreciation Index ETF) are both exchange-traded funds - XEI.TO is a Canada Equities fund tracking the S&P/TSX Composite High Dividend Index, while VGG.TO is a Dividend fund tracking the S&P U.S. Dividend Growers Index. Both are passively managed. Over the past 10 years, XEI.TO returned 12.09%/yr vs 13.63%/yr for VGG.TO. At a 0.43 correlation, their price movements are largely independent. XEI.TO charges 0.22%/yr vs 0.30%/yr for VGG.TO.

Performance

XEI.TO vs. VGG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) and Vanguard U.S. Dividend Appreciation Index ETF (VGG.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, XEI.TO achieves a 24.32% return, which is significantly higher than VGG.TO's 9.29% return. Over the past 10 years, XEI.TO has underperformed VGG.TO with an annualized return of 12.09%, while VGG.TO has yielded a comparatively higher 13.63% annualized return.

XEI.TO

1D
0.58%
1M
4.80%
YTD
24.32%
6M
20.22%
1Y
39.14%
3Y*
21.39%
5Y*
14.74%
10Y*
12.09%

VGG.TO

1D
0.63%
1M
4.96%
YTD
9.29%
6M
8.38%
1Y
20.88%
3Y*
17.25%
5Y*
13.27%
10Y*
13.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XEI.TO vs. VGG.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		24.32%20.86%15.26%6.59%0.32%35.76%-7.60%25.30%-10.95%7.14%
VGG.TO
Vanguard U.S. Dividend Appreciation Index ETF		9.29%8.61%26.49%11.58%-4.21%22.23%12.67%23.32%5.20%13.99%

Correlation

The correlation between XEI.TO and VGG.TO is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.37

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

0.44

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

0.45

Correlation (10Y)
Calculated over the trailing 10-year period

0.46

Correlation (All Time)
Calculated using the full available price history since Aug 12, 2013

0.43

XEI.TO vs. VGG.TO - Sectors Allocation Comparison

Sectors
XEI.TO
VGG.TO

Energy

32.1%
3.5%

Financial Services

31.4%
20.6%

Utilities

11.2%
3.2%

Communication Services

7.6%
0.5%

Consumer Cyclical

6.2%
4.7%

Real Estate

4.8%

-

Basic Materials

4.6%
3.5%

Technology

0.7%
26.2%

Industrials

0.7%
11.8%

Consumer Defensive

0.5%
10.1%

Healthcare

0.2%
16.5%

Energy

XEI.TO
32.1%
VGG.TO
3.5%

Financial Services

XEI.TO
31.4%
VGG.TO
20.6%

Utilities

XEI.TO
11.2%
VGG.TO
3.2%

Communication Services

XEI.TO
7.6%
VGG.TO
0.5%

Consumer Cyclical

XEI.TO
6.2%
VGG.TO
4.7%

Real Estate

XEI.TO
4.8%
VGG.TO

-

Basic Materials

XEI.TO
4.6%
VGG.TO
3.5%

Technology

XEI.TO
0.7%
VGG.TO
26.2%

Industrials

XEI.TO
0.7%
VGG.TO
11.8%

Consumer Defensive

XEI.TO
0.5%
VGG.TO
10.1%

Healthcare

XEI.TO
0.2%
VGG.TO
16.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares S&P/TSX Composite High Dividend Index ETF

Vanguard U.S. Dividend Appreciation Index ETF

Often compared with XEI.TO:
XEI.TO vs. VDY.TOXEI.TO vs. XDIV.TOXEI.TO vs. XEQT.TOXEI.TO vs. VFV.TOXEI.TO vs. ZDV.TOXEI.TO vs. CDZ.TOXEI.TO vs. XDV.TO
Often compared with VGG.TO:
VGG.TO vs. VFV.TOVGG.TO vs. VIGVGG.TO vs. SCHDVGG.TO vs. VUN.TOVGG.TO vs. ZUQ.TOVGG.TO vs. DGROVGG.TO vs. ZNQ.TO

Return for Risk

XEI.TO vs. VGG.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XEI.TO
XEI.TO Risk / Return Rank: 9898
Overall Rank
XEI.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
XEI.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
XEI.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XEI.TO Calmar Ratio Rank: 9797
Calmar Ratio Rank
XEI.TO Martin Ratio Rank: 9797
Martin Ratio Rank
VGG.TO
VGG.TO Risk / Return Rank: 7171
Overall Rank
VGG.TO Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
VGG.TO Sortino Ratio Rank: 7575
Sortino Ratio Rank
VGG.TO Omega Ratio Rank: 7171
Omega Ratio Rank
VGG.TO Calmar Ratio Rank: 6868
Calmar Ratio Rank
VGG.TO Martin Ratio Rank: 6969
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.

XEI.TO vs. VGG.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) and Vanguard U.S. Dividend Appreciation Index ETF (VGG.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.

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.

XEI.TOVGG.TODifference
Sharpe ratioReturn per unit of total volatility
5.02
2.03

+3.00

Sortino ratioReturn per unit of downside risk
6.90
2.91

+3.99

Omega ratioGain probability vs. loss probability

2.02

1.36

+0.66

Calmar ratioReturn relative to maximum drawdown

9.32

2.97

+6.36

Martin ratioReturn relative to average drawdown

41.87

11.06

+30.80

XEI.TO vs. VGG.TO - Sharpe Ratio Comparison

The current XEI.TO Sharpe Ratio is 5.02, which is higher than the VGG.TO Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of XEI.TO and VGG.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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Drawdowns

XEI.TO vs. VGG.TO - Drawdown Comparison

The maximum XEI.TO drawdown since its inception was -45.52%, which is greater than VGG.TO's maximum drawdown of -24.58%. Use the drawdown chart below to compare losses from any high point for XEI.TO and VGG.TO.

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Drawdown Indicators

XEI.TOVGG.TODifference

Max Drawdown

Largest peak-to-trough decline

-45.52%

-24.58%

-20.94%

Max Drawdown (1Y)

Largest decline over 1 year

-4.22%

-7.07%

+2.85%

Max Drawdown (3Y)

Largest decline over 3 years

-9.96%

-15.56%

+5.60%

Max Drawdown (5Y)

Largest decline over 5 years

-17.35%

-18.52%

+1.17%

Max Drawdown (10Y)

Largest decline over 10 years

-45.52%

-24.58%

-20.94%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-5.10%

-2.93%

-2.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.94%

1.90%

-0.96%

Volatility

XEI.TO vs. VGG.TO - Volatility Comparison

The current volatility for iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) is 2.68%, while Vanguard U.S. Dividend Appreciation Index ETF (VGG.TO) has a volatility of 3.08%. This indicates that XEI.TO experiences smaller price fluctuations and is considered to be less risky than VGG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XEI.TOVGG.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.68%

3.08%

-0.40%

Volatility (6M)

Calculated over the trailing 6-month period

6.71%

8.03%

-1.32%

Volatility (1Y)

Calculated over the trailing 1-year period

7.84%

10.34%

-2.50%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.31%

12.67%

-1.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.02%

14.99%

+1.03%

XEI.TO vs. VGG.TO - Expense Ratio Comparison

XEI.TO has a 0.22% expense ratio, which is lower than VGG.TO's 0.30% expense ratio.

Dividends

XEI.TO vs. VGG.TO - Dividend Comparison

XEI.TO's dividend yield for the trailing twelve months is around 3.53%, more than VGG.TO's 1.01% yield.

PositionTTM20252024202320222021202020192018201720162015
VGG.TO
Vanguard U.S. Dividend Appreciation Index ETF		1.01%1.16%1.23%1.37%1.35%1.21%1.25%1.24%1.50%1.45%1.63%1.70%
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		3.53%4.47%5.45%4.97%4.68%3.58%5.03%4.62%5.42%4.29%4.41%5.64%

Frequently Asked Questions

XEI.TO and VGG.TO have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XEI.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XEI.TO is cheaper with a 0.22% expense ratio, compared with 0.30% for VGG.TO.

XEI.TO is categorized as Canada Equities, while VGG.TO is Dividend. XEI.TO tracks S&P/TSX Composite High Dividend Index, while VGG.TO tracks S&P U.S. Dividend Growers Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.22% for XEI.TO and 0.30% for VGG.TO.

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