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

XEI.TO vs. XDIV

Last updated Jul 16, 2026
Documentation

XEI.TO (iShares S&P/TSX Composite High Dividend Index ETF) and XDIV (Roundhill S&P 500 No Dividend Target ETF) are both exchange-traded funds - XEI.TO is a Canada Equities fund tracking the S&P/TSX Composite High Dividend Index, while XDIV is a S&P 500 fund actively managed by Roundhill. XEI.TO is passively managed, while XDIV is actively managed. Over the past year, XEI.TO returned 39.57% vs 25.38% for XDIV. At a 0.17 correlation, their price movements are largely independent. XEI.TO charges 0.22%/yr vs 0.08%/yr for XDIV.

Performance

XEI.TO vs. XDIV - 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 Roundhill S&P 500 No Dividend Target ETF (XDIV). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, XEI.TO achieves a 27.27% return, which is significantly higher than XDIV's 13.67% return.

XEI.TO

1D
0.75%
1M
2.77%
6M
23.90%
YTD
27.27%
1Y
39.57%
3Y*
22.45%
5Y*
15.70%
10Y*
11.99%

XDIV

1D
-0.29%
1M
0.64%
6M
10.90%
YTD
13.67%
1Y
25.38%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XEI.TO vs. XDIV - Yearly Performance Comparison

2026 (YTD)2025
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		27.27%10.19%
XDIV
Roundhill S&P 500 No Dividend Target ETF		13.67%10.16%

Correlation

The correlation between XEI.TO and XDIV is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.17

Correlation (All Time)
Calculated using the full available price history since Jul 10, 2025

0.17

XEI.TO vs. XDIV - Sectors Allocation Comparison

Sectors
XEI.TO
XDIV

Financial Services

32.5%
11.1%

Energy

31.1%
3.1%

Utilities

11.4%
2.1%

Communication Services

8.0%
10.6%

Consumer Cyclical

6.0%
9.9%

Real Estate

4.8%
1.8%

Basic Materials

4.1%
1.7%

Industrials

0.8%
7.8%

Technology

0.7%
39.0%

Consumer Defensive

0.6%
4.5%

Healthcare

0.2%
8.3%

Financial Services

XEI.TO
32.5%
XDIV
11.1%

Energy

XEI.TO
31.1%
XDIV
3.1%

Utilities

XEI.TO
11.4%
XDIV
2.1%

Communication Services

XEI.TO
8.0%
XDIV
10.6%

Consumer Cyclical

XEI.TO
6.0%
XDIV
9.9%

Real Estate

XEI.TO
4.8%
XDIV
1.8%

Basic Materials

XEI.TO
4.1%
XDIV
1.7%

Industrials

XEI.TO
0.8%
XDIV
7.8%

Technology

XEI.TO
0.7%
XDIV
39.0%

Consumer Defensive

XEI.TO
0.6%
XDIV
4.5%

Healthcare

XEI.TO
0.2%
XDIV
8.3%

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

Roundhill S&P 500 No Dividend Target 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 XDIV:
XDIV vs. XIC.TOXDIV vs. VOOXDIV vs. VDY.TOXDIV vs. SPYXDIV vs. XEQT.TOXDIV vs. QQQXDIV vs. BOXX

Return for Risk

XEI.TO vs. XDIV — 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: 9898
Calmar Ratio Rank
XEI.TO Martin Ratio Rank: 9898
Martin Ratio Rank
XDIV
XDIV Risk / Return Rank: 6767
Overall Rank
XDIV Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
XDIV Sortino Ratio Rank: 6767
Sortino Ratio Rank
XDIV Omega Ratio Rank: 6767
Omega Ratio Rank
XDIV Calmar Ratio Rank: 6161
Calmar Ratio Rank
XDIV Martin Ratio Rank: 7373
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. XDIV - 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 Roundhill S&P 500 No Dividend Target ETF (XDIV). 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.TOXDIVDifference
Sharpe ratioReturn per unit of total volatility
4.96
1.95

+3.00

Sortino ratioReturn per unit of downside risk
6.89
2.74

+4.15

Omega ratioGain probability vs. loss probability

1.99

1.34

+0.65

Calmar ratioReturn relative to maximum drawdown

9.43

2.77

+6.65

Martin ratioReturn relative to average drawdown

41.44

10.42

+31.02

XEI.TO vs. XDIV - Sharpe Ratio Comparison

The current XEI.TO Sharpe Ratio is 4.96, which is higher than the XDIV Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of XEI.TO and XDIV, 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. XDIV - Drawdown Comparison

The maximum XEI.TO drawdown since its inception was -45.52%, which is greater than XDIV's maximum drawdown of -9.19%. Use the drawdown chart below to compare losses from any high point for XEI.TO and XDIV.

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Drawdown Indicators

XEI.TOXDIVDifference

Max Drawdown

Largest peak-to-trough decline

-45.52%

-9.19%

-36.33%

Max Drawdown (1Y)

Largest decline over 1 year

-4.22%

-9.19%

+4.97%

Max Drawdown (3Y)

Largest decline over 3 years

-9.96%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-17.35%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-45.52%

—

—

Current Drawdown

Current decline from peak

0.00%

-0.77%

+0.77%

Average Drawdown

Average peak-to-trough decline

-5.07%

-1.52%

-3.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.96%

2.44%

-1.48%

Volatility

XEI.TO vs. XDIV - Volatility Comparison

The current volatility for iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) is 2.21%, while Roundhill S&P 500 No Dividend Target ETF (XDIV) has a volatility of 3.84%. This indicates that XEI.TO experiences smaller price fluctuations and is considered to be less risky than XDIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XEI.TOXDIVDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.21%

3.84%

-1.63%

Volatility (6M)

Calculated over the trailing 6-month period

6.00%

10.58%

-4.58%

Volatility (1Y)

Calculated over the trailing 1-year period

8.03%

13.06%

-5.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.30%

13.00%

-1.70%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.00%

13.00%

+3.00%

XEI.TO vs. XDIV - Expense Ratio Comparison

XEI.TO has a 0.22% expense ratio, which is higher than XDIV's 0.08% 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

XEI.TO vs. XDIV - Dividend Comparison

XEI.TO's dividend yield for the trailing twelve months is around 3.41%, while XDIV has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
XDIV
Roundhill S&P 500 No Dividend Target ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		3.41%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 XDIV have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XDIV is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XDIV is cheaper with a 0.08% expense ratio, compared with 0.22% for XEI.TO.

XEI.TO is categorized as Canada Equities, while XDIV is S&P 500. They also come from different issuers: iShares and Roundhill. Their fees differ too: 0.22% for XEI.TO and 0.08% for XDIV.

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