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XESG.TO vs. SPYX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XESG.TO vs. SPYX

Last updated Jun 14, 2026

XESG.TO (iShares ESG Aware MSCI Canada Index ETF) and SPYX (State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF) are both exchange-traded funds - XESG.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD, while SPYX is a S&P 500 fund tracking the S&P 500 Fossil Fuel Reserves Free Index. Both are passively managed. Over the past 5 years, XESG.TO returned 12.49%/yr vs 16.27%/yr for SPYX. A 0.52 correlation means they provide meaningful diversification when combined. XESG.TO charges 0.16%/yr vs 0.20%/yr for SPYX.

Performance

XESG.TO vs. SPYX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares ESG Aware MSCI Canada Index ETF (XESG.TO) and State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XESG.TO is traded in CAD, while SPYX is traded in USD. To make them comparable, the SPYX 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 XESG.TO having a 10.50% return and SPYX slightly lower at 10.45%.

XESG.TO

1D
0.81%
1M
1.78%
YTD
10.50%
6M
7.97%
1Y
29.17%
3Y*
21.05%
5Y*
12.49%
10Y*
—

SPYX

1D
0.71%
1M
1.09%
YTD
10.45%
6M
10.17%
1Y
28.36%
3Y*
22.59%
5Y*
16.27%
10Y*
16.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XESG.TO vs. SPYX - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XESG.TO
iShares ESG Aware MSCI Canada Index ETF		10.50%26.34%20.23%10.30%-7.64%23.09%1.14%12.07%
SPYX
State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF		10.45%12.49%36.08%23.37%-14.49%28.00%17.03%13.55%

Correlation

The correlation between XESG.TO and SPYX is 0.62, 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

0.62

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

0.58

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

0.61

Correlation (All Time)
Calculated using the full available price history since Mar 22, 2019

0.52

The correlation between XESG.TO and SPYX shifts across timeframes, from 0.52 (all time) to 0.62 (1 year), reflecting how their relationship changes across market environments.

XESG.TO vs. SPYX - Sectors Allocation Comparison

Sectors
XESG.TO
SPYX

Financial Services

38.5%
11.4%

Energy

19.3%
1.1%

Basic Materials

17.9%
1.7%

Industrials

8.9%
7.9%

Technology

8.3%
39.7%

Utilities

2.7%
2.2%

Consumer Cyclical

2.2%
10.1%

Consumer Defensive

1.9%
4.6%

Real Estate

0.2%
1.9%

Communication Services

0.1%
10.9%

Healthcare

0.1%
8.5%

Financial Services

XESG.TO
38.5%
SPYX
11.4%

Energy

XESG.TO
19.3%
SPYX
1.1%

Basic Materials

XESG.TO
17.9%
SPYX
1.7%

Industrials

XESG.TO
8.9%
SPYX
7.9%

Technology

XESG.TO
8.3%
SPYX
39.7%

Utilities

XESG.TO
2.7%
SPYX
2.2%

Consumer Cyclical

XESG.TO
2.2%
SPYX
10.1%

Consumer Defensive

XESG.TO
1.9%
SPYX
4.6%

Real Estate

XESG.TO
0.2%
SPYX
1.9%

Communication Services

XESG.TO
0.1%
SPYX
10.9%

Healthcare

XESG.TO
0.1%
SPYX
8.5%

Compare stocks, funds, or ETFs

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

iShares ESG Aware MSCI Canada Index ETF

State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF

Often compared with XESG.TO:
XESG.TO vs. XCSR.TOXESG.TO vs. XEQT.TOXESG.TO vs. SCHGXESG.TO vs. VFV.TOXESG.TO vs. SPYXESG.TO vs. XIU.TOXESG.TO vs. GEQT.TO
Often compared with SPYX:
SPYX vs. SPYSPYX vs. EFIVSPYX vs. QQQSPYX vs. EFAXSPYX vs. SPYGSPYX vs. USXFSPYX vs. SCHD

Return for Risk

XESG.TO vs. SPYX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XESG.TO
XESG.TO Risk / Return Rank: 7575
Overall Rank
XESG.TO Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
XESG.TO Sortino Ratio Rank: 6969
Sortino Ratio Rank
XESG.TO Omega Ratio Rank: 7676
Omega Ratio Rank
XESG.TO Calmar Ratio Rank: 7171
Calmar Ratio Rank
XESG.TO Martin Ratio Rank: 8080
Martin Ratio Rank
SPYX
SPYX Risk / Return Rank: 6363
Overall Rank
SPYX Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
SPYX Sortino Ratio Rank: 6363
Sortino Ratio Rank
SPYX Omega Ratio Rank: 6666
Omega Ratio Rank
SPYX Calmar Ratio Rank: 5454
Calmar Ratio Rank
SPYX Martin Ratio Rank: 6767
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.

XESG.TO vs. SPYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Aware MSCI Canada Index ETF (XESG.TO) and State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX). 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.

XESG.TOSPYXDifference
Sharpe ratioReturn per unit of total volatility
2.14
2.03

+0.11

Sortino ratioReturn per unit of downside risk
2.73
2.79

-0.07

Omega ratioGain probability vs. loss probability

1.39

1.35

+0.04

Calmar ratioReturn relative to maximum drawdown

3.12

2.66

+0.46

Martin ratioReturn relative to average drawdown

13.67

9.95

+3.73

XESG.TO vs. SPYX - Sharpe Ratio Comparison

The current XESG.TO Sharpe Ratio is 2.14, which is comparable to the SPYX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of XESG.TO and SPYX, 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

XESG.TO vs. SPYX - Drawdown Comparison

The maximum XESG.TO drawdown since its inception was -39.40%, which is greater than SPYX's maximum drawdown of -26.73%. Use the drawdown chart below to compare losses from any high point for XESG.TO and SPYX.

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Drawdown Indicators

XESG.TOSPYXDifference

Max Drawdown

Largest peak-to-trough decline

-39.40%

-26.73%

-12.67%

Max Drawdown (1Y)

Largest decline over 1 year

-9.28%

-9.93%

+0.65%

Max Drawdown (3Y)

Largest decline over 3 years

-14.14%

-19.40%

+5.26%

Max Drawdown (5Y)

Largest decline over 5 years

-17.82%

-23.97%

+6.15%

Max Drawdown (10Y)

Largest decline over 10 years

—

-26.73%

—

Current Drawdown

Current decline from peak

-1.00%

-1.49%

+0.49%

Average Drawdown

Average peak-to-trough decline

-5.08%

-4.22%

-0.86%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.12%

2.66%

-0.54%

Volatility

XESG.TO vs. SPYX - Volatility Comparison

iShares ESG Aware MSCI Canada Index ETF (XESG.TO) and State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) have volatilities of 4.58% and 4.67%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XESG.TOSPYXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.58%

4.67%

-0.09%

Volatility (6M)

Calculated over the trailing 6-month period

11.34%

10.26%

+1.08%

Volatility (1Y)

Calculated over the trailing 1-year period

13.55%

13.00%

+0.55%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.90%

18.07%

-4.17%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.98%

19.09%

+2.89%

XESG.TO vs. SPYX - Expense Ratio Comparison

XESG.TO has a 0.16% expense ratio, which is lower than SPYX's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XESG.TO vs. SPYX - Dividend Comparison

XESG.TO's dividend yield for the trailing twelve months is around 1.99%, more than SPYX's 0.86% yield.

PositionTTM20252024202320222021202020192018201720162015
SPYX
State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF		0.86%0.91%1.05%1.21%1.41%1.04%1.33%1.56%1.92%1.68%1.91%0.16%
XESG.TO
iShares ESG Aware MSCI Canada Index ETF		1.99%2.17%2.57%2.89%2.77%2.01%2.30%1.08%0.00%0.00%0.00%0.00%

Frequently Asked Questions

XESG.TO and SPYX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XESG.TO is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XESG.TO is cheaper with a 0.16% expense ratio, compared with 0.20% for SPYX.

XESG.TO is categorized as Canada Equities, while SPYX is S&P 500. XESG.TO tracks Morningstar Canada GR CAD, while SPYX tracks S&P 500 Fossil Fuel Reserves Free Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.16% for XESG.TO and 0.20% for SPYX.

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