XESG.TO vs. XCV.TO
XESG.TO (iShares ESG Aware MSCI Canada Index ETF) and XCV.TO (iShares Canadian Value Index ETF) are both Canada Equities funds from iShares tracking the Morningstar Canada GR CAD. Both are passively managed. Over the past 5 years, XESG.TO returned 12.42%/yr vs 17.83%/yr for XCV.TO. A 0.76 correlation means they provide meaningful diversification when combined. XESG.TO charges 0.16%/yr vs 0.55%/yr for XCV.TO.
Performance
XESG.TO vs. XCV.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XESG.TO achieves a 10.34% return, which is significantly lower than XCV.TO's 19.17% return.
XESG.TO
- 1D
- -0.94%
- 1M
- 3.12%
- YTD
- 10.34%
- 6M
- 9.25%
- 1Y
- 29.31%
- 3Y*
- 20.90%
- 5Y*
- 12.42%
- 10Y*
- —
XCV.TO
- 1D
- -0.02%
- 1M
- 4.70%
- YTD
- 19.17%
- 6M
- 19.26%
- 1Y
- 44.26%
- 3Y*
- 27.30%
- 5Y*
- 17.83%
- 10Y*
- 13.20%
XESG.TO vs. XCV.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XESG.TO iShares ESG Aware MSCI Canada Index ETF | 10.34% | 26.25% | 20.05% | 10.13% | -7.77% | 22.91% | 4.80% | 15.28% |
XCV.TO iShares Canadian Value Index ETF | 19.17% | 32.17% | 21.26% | 9.47% | 1.87% | 32.71% | -2.56% | 6.67% |
Correlation
The correlation between XESG.TO and XCV.TO is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Mar 25, 2019 | 0.76 |
The correlation between XESG.TO and XCV.TO shifts across timeframes, from 0.67 (1 year) to 0.81 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XESG.TO vs. XCV.TO — Risk / Return Rank
XESG.TO
XCV.TO
XESG.TO vs. XCV.TO - 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 iShares Canadian Value Index ETF (XCV.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.
| XESG.TO | XCV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.72 | ||
| Sortino ratioReturn per unit of downside risk | -3.76 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 2.03 | -0.62 |
| Calmar ratioReturn relative to maximum drawdown | 3.17 | 11.53 | -8.36 |
| Martin ratioReturn relative to average drawdown | 14.11 | 43.47 | -29.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XESG.TO | XCV.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.24 | 4.97 | -2.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.92 | 1.39 | -0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.85 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.54 | +0.28 |
Drawdowns
XESG.TO vs. XCV.TO - Drawdown Comparison
The maximum XESG.TO drawdown since its inception was -37.36%, smaller than the maximum XCV.TO drawdown of -52.49%. Use the drawdown chart below to compare losses from any high point for XESG.TO and XCV.TO.
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Drawdown Indicators
| XESG.TO | XCV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.36% | -52.49% | +15.13% |
Max Drawdown (1Y)Largest decline over 1 year | -9.28% | -3.86% | -5.42% |
Max Drawdown (3Y)Largest decline over 3 years | -14.18% | -9.71% | -4.47% |
Max Drawdown (5Y)Largest decline over 5 years | -17.91% | -18.08% | +0.17% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.18% | — |
Current DrawdownCurrent decline from peak | -0.94% | -0.89% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -4.55% | -6.67% | +2.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.08% | 1.02% | +1.06% |
Volatility
XESG.TO vs. XCV.TO - Volatility Comparison
iShares ESG Aware MSCI Canada Index ETF (XESG.TO) and iShares Canadian Value Index ETF (XCV.TO) have volatilities of 3.37% and 3.27%, 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.TO | XCV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.37% | 3.27% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 10.94% | 7.65% | +3.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.15% | 8.96% | +4.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.62% | 12.87% | +0.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.83% | 15.54% | +1.29% |
XESG.TO vs. XCV.TO - Expense Ratio Comparison
XESG.TO has a 0.16% expense ratio, which is lower than XCV.TO's 0.55% expense ratio.
Dividends
XESG.TO vs. XCV.TO - Dividend Comparison
XESG.TO's dividend yield for the trailing twelve months is around 1.96%, less than XCV.TO's 2.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XCV.TO iShares Canadian Value Index ETF | 2.29% | 2.71% | 3.72% | 3.88% | 3.18% | 2.11% | 3.35% | 3.06% | 3.13% | 2.40% | 2.50% | 3.14% |
XESG.TO iShares ESG Aware MSCI Canada Index ETF | 1.96% | 2.13% | 2.45% | 2.74% | 2.63% | 1.88% | 2.15% | 1.05% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XESG.TO and XCV.TO have a correlation of 0.67, 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 0.55% for XCV.TO.
Both ETFs track Morningstar Canada GR CAD. Their fees differ too: 0.16% for XESG.TO and 0.55% for XCV.TO.
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