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XHC.TO vs. ^GSPC
Performance
Return for Risk
Drawdowns
Volatility

XHC.TO vs. ^GSPC

Last updated Jun 4, 2026

XHC.TO (iShares Global Healthcare Index ETF (CAD-Hedged)) is Health & Biotech Equities fund tracking the Morningstar Gbl GR CAD, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, XHC.TO returned 6.87%/yr vs 14.52%/yr for ^GSPC. A 0.58 correlation means they provide meaningful diversification when combined.

Performance

XHC.TO vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Global Healthcare Index ETF (CAD-Hedged) (XHC.TO) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, XHC.TO achieves a -5.65% return, which is significantly lower than ^GSPC's 12.12% return. Over the past 10 years, XHC.TO has underperformed ^GSPC with an annualized return of 6.87%, while ^GSPC has yielded a comparatively higher 14.52% annualized return.

XHC.TO

1D
0.59%
1M
0.77%
YTD
-5.65%
6M
-5.54%
1Y
7.72%
3Y*
2.70%
5Y*
3.54%
10Y*
6.87%

^GSPC

1D
0.00%
1M
7.35%
YTD
12.12%
6M
10.22%
1Y
28.58%
3Y*
22.37%
5Y*
15.58%
10Y*
14.52%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XHC.TO vs. ^GSPC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XHC.TO
iShares Global Healthcare Index ETF (CAD-Hedged)		-5.65%10.91%1.22%2.14%-3.56%21.32%8.71%22.47%2.20%16.84%
^GSPC
S&P 500 Index		11.75%11.05%33.90%21.49%-13.70%25.75%14.29%22.54%1.71%11.82%

Correlation

The correlation between XHC.TO and ^GSPC is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.36

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

0.42

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

0.52

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

0.56

Correlation (All Time)
Calculated using the full available price history since Apr 19, 2011

0.58

Over the past year, the correlation between XHC.TO and ^GSPC has dropped to 0.36 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

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

iShares Global Healthcare Index ETF (CAD-Hedged)

S&P 500 Index

Often compared with XHC.TO:
XHC.TO vs. XLVXHC.TO vs. VHTXHC.TO vs. TDOCXHC.TO vs. LIFE.TOXHC.TO vs. XST.TOXHC.TO vs. IHIXHC.TO vs. ZUH.TO
Often compared with ^GSPC:
^GSPC vs. ^IBEX^GSPC vs. AVGO^GSPC vs. SCHD^GSPC vs. GC=F^GSPC vs. TSMU^GSPC vs. QQQ^GSPC vs. ACWI

Return for Risk

XHC.TO vs. ^GSPC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XHC.TO
XHC.TO Risk / Return Rank: 1717
Overall Rank
XHC.TO Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
XHC.TO Sortino Ratio Rank: 1717
Sortino Ratio Rank
XHC.TO Omega Ratio Rank: 1616
Omega Ratio Rank
XHC.TO Calmar Ratio Rank: 1818
Calmar Ratio Rank
XHC.TO Martin Ratio Rank: 1717
Martin Ratio Rank
^GSPC
^GSPC Risk / Return Rank: 7373
Overall Rank
^GSPC Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
^GSPC Sortino Ratio Rank: 7171
Sortino Ratio Rank
^GSPC Omega Ratio Rank: 7272
Omega Ratio Rank
^GSPC Calmar Ratio Rank: 6767
Calmar Ratio Rank
^GSPC Martin Ratio Rank: 8181
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.

XHC.TO vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Healthcare Index ETF (CAD-Hedged) (XHC.TO) and S&P 500 Index (^GSPC). 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.

XHC.TO^GSPCDifference
Sharpe ratioReturn per unit of total volatility
0.54
2.46

-1.92

Sortino ratioReturn per unit of downside risk
0.91
3.32

-2.41

Omega ratioGain probability vs. loss probability

1.10

1.47

-0.36

Calmar ratioReturn relative to maximum drawdown

0.72

3.24

-2.52

Martin ratioReturn relative to average drawdown

1.76

12.23

-10.47

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

XHC.TO vs. ^GSPC - Sharpe Ratio Comparison

The current XHC.TO Sharpe Ratio is 0.54, which is lower than the ^GSPC Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of XHC.TO and ^GSPC, 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

XHC.TO^GSPCDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.54

2.46

-1.92

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.26

1.05

-0.79

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.44

0.89

-0.45

Sharpe Ratio (All Time)

Calculated using the full available price history

0.67

0.99

-0.32

Drawdowns

XHC.TO vs. ^GSPC - Drawdown Comparison

The maximum XHC.TO drawdown since its inception was -27.28%, roughly equal to the maximum ^GSPC drawdown of -27.59%. Use the drawdown chart below to compare losses from any high point for XHC.TO and ^GSPC.

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Drawdown Indicators

XHC.TO^GSPCDifference

Max Drawdown

Largest peak-to-trough decline

-27.28%

-27.59%

+0.31%

Max Drawdown (1Y)

Largest decline over 1 year

-10.79%

-8.86%

-1.93%

Max Drawdown (3Y)

Largest decline over 3 years

-18.81%

-19.23%

+0.42%

Max Drawdown (5Y)

Largest decline over 5 years

-18.81%

-22.60%

+3.79%

Max Drawdown (10Y)

Largest decline over 10 years

-27.28%

-27.59%

+0.31%

Current Drawdown

Current decline from peak

-9.76%

0.00%

-9.76%

Average Drawdown

Average peak-to-trough decline

-4.85%

-3.51%

-1.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.39%

2.34%

+2.05%

Volatility

XHC.TO vs. ^GSPC - Volatility Comparison

iShares Global Healthcare Index ETF (CAD-Hedged) (XHC.TO) has a higher volatility of 4.76% compared to S&P 500 Index (^GSPC) at 2.69%. This indicates that XHC.TO's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XHC.TO^GSPCDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.76%

2.69%

+2.07%

Volatility (6M)

Calculated over the trailing 6-month period

10.21%

8.85%

+1.36%

Volatility (1Y)

Calculated over the trailing 1-year period

14.34%

11.70%

+2.64%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.87%

14.99%

-1.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.75%

16.33%

-0.58%

Frequently Asked Questions

XHC.TO and ^GSPC have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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