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XFN.TO vs. XUSF.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XFN.TO vs. XUSF.TO

Last updated Jun 4, 2026

XFN.TO (iShares S&P/TSX Capped Financials Index ETF) and XUSF.TO (iShares S&P U.S. Financials Index ETF) are both Financials Equities funds from iShares - XFN.TO tracks the Morningstar Gbl Fin Svc GR CAD while XUSF.TO tracks the S&P Financial Select Sector Index. Both are passively managed. Over the past year, XFN.TO returned 41.54% vs 2.22% for XUSF.TO. At a 0.46 correlation, their price movements are largely independent. XFN.TO charges 0.61%/yr vs 0.25%/yr for XUSF.TO.

Performance

XFN.TO vs. XUSF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Capped Financials Index ETF (XFN.TO) and iShares S&P U.S. Financials Index ETF (XUSF.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, XFN.TO achieves a 12.51% return, which is significantly higher than XUSF.TO's -6.02% return.

XFN.TO

1D
-0.55%
1M
5.10%
YTD
12.51%
6M
17.66%
1Y
41.54%
3Y*
29.67%
5Y*
16.93%
10Y*
14.38%

XUSF.TO

1D
-0.54%
1M
0.41%
YTD
-6.02%
6M
-4.57%
1Y
2.22%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XFN.TO vs. XUSF.TO - Yearly Performance Comparison

2026 (YTD)202520242023
XFN.TO
iShares S&P/TSX Capped Financials Index ETF		12.51%34.40%29.32%10.25%
XUSF.TO
iShares S&P U.S. Financials Index ETF		-6.02%9.67%39.77%8.23%

Correlation

The correlation between XFN.TO and XUSF.TO is 0.55, 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

0.55

Correlation (All Time)
Calculated using the full available price history since Sep 7, 2023

0.46

The correlation between XFN.TO and XUSF.TO has been stable across timeframes, ranging from 0.46 to 0.55 - a consistent structural relationship.

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 Capped Financials Index ETF

iShares S&P U.S. Financials Index ETF

Often compared with XFN.TO:
XFN.TO vs. VDY.TOXFN.TO vs. FIE.TOXFN.TO vs. XIU.TOXFN.TO vs. CEW.TOXFN.TO vs. VFV.TOXFN.TO vs. RY.TOXFN.TO vs. XUS-U.TO
Often compared with XUSF.TO:
XUSF.TO vs. HBA.TOXUSF.TO vs. FMAX.TOXUSF.TO vs. XCG.TOXUSF.TO vs. XEQT.TOXUSF.TO vs. RBNK.TOXUSF.TO vs. ZEB.TOXUSF.TO vs. XCS.TO

Return for Risk

XFN.TO vs. XUSF.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XFN.TO
XFN.TO Risk / Return Rank: 9191
Overall Rank
XFN.TO Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
XFN.TO Sortino Ratio Rank: 9494
Sortino Ratio Rank
XFN.TO Omega Ratio Rank: 9191
Omega Ratio Rank
XFN.TO Calmar Ratio Rank: 8989
Calmar Ratio Rank
XFN.TO Martin Ratio Rank: 9090
Martin Ratio Rank
XUSF.TO
XUSF.TO Risk / Return Rank: 1111
Overall Rank
XUSF.TO Sharpe Ratio Rank: 1111
Sharpe Ratio Rank
XUSF.TO Sortino Ratio Rank: 1010
Sortino Ratio Rank
XUSF.TO Omega Ratio Rank: 1111
Omega Ratio Rank
XUSF.TO Calmar Ratio Rank: 1111
Calmar Ratio Rank
XUSF.TO Martin Ratio Rank: 1010
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.

XFN.TO vs. XUSF.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Capped Financials Index ETF (XFN.TO) and iShares S&P U.S. Financials Index ETF (XUSF.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.

XFN.TOXUSF.TODifference
Sharpe ratioReturn per unit of total volatility
3.46
0.15

+3.31

Sortino ratioReturn per unit of downside risk
4.85
0.31

+4.55

Omega ratioGain probability vs. loss probability

1.61

1.04

+0.57

Calmar ratioReturn relative to maximum drawdown

5.35

0.15

+5.20

Martin ratioReturn relative to average drawdown

21.60

0.37

+21.24

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XFN.TO vs. XUSF.TO - Sharpe Ratio Comparison

The current XFN.TO Sharpe Ratio is 3.46, which is higher than the XUSF.TO Sharpe Ratio of 0.15. The chart below compares the historical Sharpe Ratios of XFN.TO and XUSF.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

XFN.TOXUSF.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.46

0.15

+3.31

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.26

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.87

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.64

0.99

-0.35

Drawdowns

XFN.TO vs. XUSF.TO - Drawdown Comparison

The maximum XFN.TO drawdown since its inception was -56.55%, which is greater than XUSF.TO's maximum drawdown of -16.88%. Use the drawdown chart below to compare losses from any high point for XFN.TO and XUSF.TO.

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Drawdown Indicators

XFN.TOXUSF.TODifference

Max Drawdown

Largest peak-to-trough decline

-56.55%

-16.88%

-39.67%

Max Drawdown (1Y)

Largest decline over 1 year

-7.80%

-14.66%

+6.86%

Max Drawdown (3Y)

Largest decline over 3 years

-12.37%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-21.90%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-39.93%

—

—

Current Drawdown

Current decline from peak

-1.39%

-8.87%

+7.48%

Average Drawdown

Average peak-to-trough decline

-6.60%

-3.50%

-3.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.93%

6.07%

-4.14%

Volatility

XFN.TO vs. XUSF.TO - Volatility Comparison

iShares S&P/TSX Capped Financials Index ETF (XFN.TO) has a higher volatility of 4.19% compared to iShares S&P U.S. Financials Index ETF (XUSF.TO) at 2.65%. This indicates that XFN.TO's price experiences larger fluctuations and is considered to be riskier than XUSF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XFN.TOXUSF.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.19%

2.65%

+1.54%

Volatility (6M)

Calculated over the trailing 6-month period

10.10%

11.50%

-1.40%

Volatility (1Y)

Calculated over the trailing 1-year period

12.07%

15.06%

-2.99%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.47%

17.90%

-4.43%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.53%

17.90%

-1.37%

XFN.TO vs. XUSF.TO - Expense Ratio Comparison

XFN.TO has a 0.61% expense ratio, which is higher than XUSF.TO's 0.25% expense ratio.

Dividends

XFN.TO vs. XUSF.TO - Dividend Comparison

XFN.TO's dividend yield for the trailing twelve months is around 2.17%, more than XUSF.TO's 0.91% yield.

PositionTTM20252024202320222021202020192018201720162015
XFN.TO
iShares S&P/TSX Capped Financials Index ETF		2.17%2.39%3.16%3.60%3.48%2.67%3.35%3.00%3.43%2.73%2.83%3.17%
XUSF.TO
iShares S&P U.S. Financials Index ETF		0.91%0.75%0.81%0.34%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

XFN.TO and XUSF.TO have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XUSF.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XUSF.TO is cheaper with a 0.25% expense ratio, compared with 0.61% for XFN.TO.

XFN.TO tracks Morningstar Gbl Fin Svc GR CAD, while XUSF.TO tracks S&P Financial Select Sector Index. Their fees differ too: 0.61% for XFN.TO and 0.25% for XUSF.TO.

Portfolio Optimizer

Find the right allocation for XFN.TO and XUSF.TO

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