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XGI.TO vs. XMA.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XGI.TO vs. XMA.TO

Last updated Jun 5, 2026

XGI.TO (iShares S&P Global Industrials Index ETF (CAD-Hedged)) and XMA.TO (iShares S&P/TSX Capped Materials Index ETF) are both exchange-traded funds - XGI.TO is a Industrials Equities fund tracking the Morningstar Gbl GR CAD, while XMA.TO is a Materials fund tracking the S&P/TSX Capped Materials TR. Both are passively managed. Over the past 10 years, XGI.TO returned 12.01%/yr vs 14.10%/yr for XMA.TO. At a 0.16 correlation, their price movements are largely independent. XGI.TO charges 0.68%/yr vs 0.60%/yr for XMA.TO.

Performance

XGI.TO vs. XMA.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P Global Industrials Index ETF (CAD-Hedged) (XGI.TO) and iShares S&P/TSX Capped Materials Index ETF (XMA.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, XGI.TO achieves a 10.78% return, which is significantly higher than XMA.TO's 9.30% return. Over the past 10 years, XGI.TO has underperformed XMA.TO with an annualized return of 12.01%, while XMA.TO has yielded a comparatively higher 14.10% annualized return.

XGI.TO

1D
0.83%
1M
0.99%
YTD
10.78%
6M
12.82%
1Y
22.09%
3Y*
19.91%
5Y*
11.79%
10Y*
12.01%

XMA.TO

1D
1.58%
1M
6.98%
YTD
9.30%
6M
13.55%
1Y
66.35%
3Y*
36.32%
5Y*
20.46%
10Y*
14.10%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XGI.TO vs. XMA.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XGI.TO
iShares S&P Global Industrials Index ETF (CAD-Hedged)		10.78%20.93%16.18%21.83%-8.79%17.71%4.62%26.37%-13.97%20.21%
XMA.TO
iShares S&P/TSX Capped Materials Index ETF		9.30%99.21%20.72%-2.04%1.35%3.31%19.73%24.63%-10.46%7.07%

Correlation

The correlation between XGI.TO and XMA.TO is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.41

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

0.28

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

0.28

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

0.18

Correlation (All Time)
Calculated using the full available price history since Apr 9, 2013

0.16

Over the past year, XGI.TO and XMA.TO have become more correlated (0.41) than their long-term average of 0.16, meaning their price movements have been converging.

XGI.TO vs. XMA.TO - Sectors Allocation Comparison

Sectors
XGI.TO
XMA.TO

Industrials

87.6%
0.0%

Utilities

2.9%

-

Technology

2.1%

-

Communication Services

0.8%

-

Consumer Cyclical

0.6%
1.6%

Basic Materials

0.2%
98.4%

Financial Services

0.1%

-

Consumer Defensive

0.1%

-

Energy

-

-

Healthcare

-

-

Real Estate

-

-

Industrials

XGI.TO
87.6%
XMA.TO
0.0%

Utilities

XGI.TO
2.9%
XMA.TO

-

Technology

XGI.TO
2.1%
XMA.TO

-

Communication Services

XGI.TO
0.8%
XMA.TO

-

Consumer Cyclical

XGI.TO
0.6%
XMA.TO
1.6%

Basic Materials

XGI.TO
0.2%
XMA.TO
98.4%

Financial Services

XGI.TO
0.1%
XMA.TO

-

Consumer Defensive

XGI.TO
0.1%
XMA.TO

-

Energy

XGI.TO

-

XMA.TO

-

Healthcare

XGI.TO

-

XMA.TO

-

Real Estate

XGI.TO

-

XMA.TO

-

Compare stocks, funds, or ETFs

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iShares S&P Global Industrials Index ETF (CAD-Hedged)

iShares S&P/TSX Capped Materials Index ETF

Often compared with XGI.TO:
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Often compared with XMA.TO:
XMA.TO vs. XGD.TOXMA.TO vs. XETM.TOXMA.TO vs. XIC.TOXMA.TO vs. ZUT.TOXMA.TO vs. XIT.TOXMA.TO vs. XEQT.TOXMA.TO vs. XBM.TO

Return for Risk

XGI.TO vs. XMA.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XGI.TO
XGI.TO Risk / Return Rank: 4545
Overall Rank
XGI.TO Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
XGI.TO Sortino Ratio Rank: 4747
Sortino Ratio Rank
XGI.TO Omega Ratio Rank: 4747
Omega Ratio Rank
XGI.TO Calmar Ratio Rank: 3939
Calmar Ratio Rank
XGI.TO Martin Ratio Rank: 4747
Martin Ratio Rank
XMA.TO
XMA.TO Risk / Return Rank: 4848
Overall Rank
XMA.TO Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
XMA.TO Sortino Ratio Rank: 4343
Sortino Ratio Rank
XMA.TO Omega Ratio Rank: 5151
Omega Ratio Rank
XMA.TO Calmar Ratio Rank: 5151
Calmar Ratio Rank
XMA.TO Martin Ratio Rank: 4343
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.

XGI.TO vs. XMA.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P Global Industrials Index ETF (CAD-Hedged) (XGI.TO) and iShares S&P/TSX Capped Materials Index ETF (XMA.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.

XGI.TOXMA.TODifference
Sharpe ratioReturn per unit of total volatility
1.51
1.80

-0.28

Sortino ratioReturn per unit of downside risk
2.27
2.15

+0.13

Omega ratioGain probability vs. loss probability

1.29

1.31

-0.02

Calmar ratioReturn relative to maximum drawdown

1.89

2.47

-0.58

Martin ratioReturn relative to average drawdown

7.71

6.89

+0.83

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

XGI.TO vs. XMA.TO - Sharpe Ratio Comparison

The current XGI.TO Sharpe Ratio is 1.51, which is comparable to the XMA.TO Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of XGI.TO and XMA.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

XGI.TOXMA.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.51

1.80

-0.28

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.73

0.75

-0.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.64

0.53

+0.11

Sharpe Ratio (All Time)

Calculated using the full available price history

0.64

0.28

+0.35

Drawdowns

XGI.TO vs. XMA.TO - Drawdown Comparison

The maximum XGI.TO drawdown since its inception was -41.43%, smaller than the maximum XMA.TO drawdown of -64.13%. Use the drawdown chart below to compare losses from any high point for XGI.TO and XMA.TO.

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Drawdown Indicators

XGI.TOXMA.TODifference

Max Drawdown

Largest peak-to-trough decline

-41.43%

-64.13%

+22.70%

Max Drawdown (1Y)

Largest decline over 1 year

-11.74%

-26.96%

+15.22%

Max Drawdown (3Y)

Largest decline over 3 years

-16.14%

-26.96%

+10.82%

Max Drawdown (5Y)

Largest decline over 5 years

-23.04%

-33.06%

+10.02%

Max Drawdown (10Y)

Largest decline over 10 years

-41.43%

-33.06%

-8.37%

Current Drawdown

Current decline from peak

-1.78%

-17.47%

+15.69%

Average Drawdown

Average peak-to-trough decline

-4.94%

-26.31%

+21.37%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.87%

9.66%

-6.79%

Volatility

XGI.TO vs. XMA.TO - Volatility Comparison

The current volatility for iShares S&P Global Industrials Index ETF (CAD-Hedged) (XGI.TO) is 4.92%, while iShares S&P/TSX Capped Materials Index ETF (XMA.TO) has a volatility of 13.48%. This indicates that XGI.TO experiences smaller price fluctuations and is considered to be less risky than XMA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XGI.TOXMA.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.92%

13.48%

-8.56%

Volatility (6M)

Calculated over the trailing 6-month period

12.56%

30.83%

-18.27%

Volatility (1Y)

Calculated over the trailing 1-year period

14.66%

37.10%

-22.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.31%

27.55%

-11.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.86%

26.56%

-7.70%

XGI.TO vs. XMA.TO - Expense Ratio Comparison

XGI.TO has a 0.68% expense ratio, which is higher than XMA.TO's 0.60% expense ratio.

Dividends

XGI.TO vs. XMA.TO - Dividend Comparison

XGI.TO's dividend yield for the trailing twelve months is around 1.39%, more than XMA.TO's 0.36% yield.

PositionTTM20252024202320222021202020192018201720162015
XGI.TO
iShares S&P Global Industrials Index ETF (CAD-Hedged)		1.39%1.54%2.69%1.24%1.34%0.90%0.96%1.30%1.88%1.12%1.35%1.41%
XMA.TO
iShares S&P/TSX Capped Materials Index ETF		0.36%0.41%0.83%1.26%1.24%0.87%0.63%0.62%0.72%0.42%0.82%1.90%

Frequently Asked Questions

XGI.TO and XMA.TO have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XMA.TO is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XMA.TO is cheaper with a 0.60% expense ratio, compared with 0.68% for XGI.TO.

XGI.TO is categorized as Industrials Equities, while XMA.TO is Materials. XGI.TO tracks Morningstar Gbl GR CAD, while XMA.TO tracks S&P/TSX Capped Materials TR. Their fees differ too: 0.68% for XGI.TO and 0.60% for XMA.TO.

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