XHC.TO vs. JAPN.TO

Last updated Jul 22, 2026

XHC.TO (iShares Global Healthcare Index ETF (CAD-Hedged)) and JAPN.TO (CI WisdomTree Japan Equity Index ETF) are both exchange-traded funds - XHC.TO is a Health & Biotech Equities fund tracking the Morningstar Gbl GR CAD, while JAPN.TO is a Japan Equities fund tracking the WisdomTree Japan Equity Index CAD. Both are passively managed. Over the past 5 years, XHC.TO returned 3.21%/yr vs 26.32%/yr for JAPN.TO. At a 0.19 correlation, their price movements are largely independent. XHC.TO charges 0.66%/yr vs 0.48%/yr for JAPN.TO.

Performance

XHC.TO vs. JAPN.TO - 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 CI WisdomTree Japan Equity Index ETF (JAPN.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XHC.TO achieves a 2.01% return, which is significantly lower than JAPN.TO's 22.80% return.

XHC.TO

• 1D: 0.65%
• 1M: 6.31%
• 6M: 1.16%
• YTD: 2.01%
• 1Y: 18.86%
• 3Y*: 4.52%
• 5Y*: 3.21%
• 10Y*: 6.93%
• ALL TIME*: 10.31%

JAPN.TO

• 1D: 2.75%
• 1M: 0.14%
• 6M: 15.69%
• YTD: 22.80%
• 1Y: 53.70%
• 3Y*: 30.54%
• 5Y*: 26.32%
• 10Y*: —
• ALL TIME*: 17.31%

*Multi-year figures are annualized to reflect compound growth (CAGR)

XHC.TO vs. JAPN.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
XHC.TO iShares Global Healthcare Index ETF (CAD-Hedged)	2.01%	10.91%	1.22%	2.14%	-3.57%	17.32%	8.71%	22.47%	-4.82%
JAPN.TO CI WisdomTree Japan Equity Index ETF	22.80%	30.67%	29.25%	35.51%	10.82%	16.05%	2.20%	16.56%	-17.12%

Correlation

The correlation between XHC.TO and JAPN.TO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Aug 1, 2018	0.19

XHC.TO vs. JAPN.TO - Sectors Allocation Comparison

Sectors	XHC.TO	JAPN.TO
Healthcare	100.0%	6.2%
Consumer Defensive	0.5%	4.8%
Basic Materials	-	7.6%
Communication Services	-	3.5%
Consumer Cyclical	-	15.5%
Energy	-	1.5%
Financial Services	-	19.5%
Industrials	-	25.5%
Real Estate	-	-
Technology	-	15.7%
Utilities	-	0.1%

Return for Risk

XHC.TO vs. JAPN.TO — 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: 45
XHC.TO Sharpe Ratio Rank: 46
XHC.TO Sortino Ratio Rank: 51
XHC.TO Omega Ratio Rank: 44
XHC.TO Calmar Ratio Rank: 46
XHC.TO Martin Ratio Rank: 37

JAPN.TO

JAPN.TO Risk / Return Rank: 94
JAPN.TO Sharpe Ratio Rank: 95
JAPN.TO Sortino Ratio Rank: 94
JAPN.TO Omega Ratio Rank: 94
JAPN.TO Calmar Ratio Rank: 93
JAPN.TO Martin Ratio Rank: 93

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. JAPN.TO - 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 CI WisdomTree Japan Equity Index ETF (JAPN.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.

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.

	XHC.TO	JAPN.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.22	2.88	-1.66
Sortino ratio: Return per unit of downside risk	1.92	3.89	-1.97
Omega ratio: Gain probability vs. loss probability	1.22	1.53	-0.31
Calmar ratio: Return relative to maximum drawdown	1.75	4.87	-3.11
Martin ratio: Return relative to average drawdown	4.15	17.77	-13.62

XHC.TO vs. JAPN.TO - Sharpe Ratio Comparison

The current XHC.TO Sharpe Ratio is 1.22, which is lower than the JAPN.TO Sharpe Ratio of 2.88. The chart below compares the historical Sharpe Ratios of XHC.TO and JAPN.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.

Drawdowns

XHC.TO vs. JAPN.TO - Drawdown Comparison

The maximum XHC.TO drawdown since its inception was -27.28%, smaller than the maximum JAPN.TO drawdown of -28.88%. Use the drawdown chart below to compare losses from any high point for XHC.TO and JAPN.TO.

Drawdown Indicators

	XHC.TO	JAPN.TO	Difference
Max Drawdown Largest peak-to-trough decline	-27.28%	-28.88%	+1.60%
Max Drawdown (1Y) Largest decline over 1 year	-10.79%	-11.09%	+0.30%
Max Drawdown (3Y) Largest decline over 3 years	-18.81%	-21.67%	+2.86%
Max Drawdown (5Y) Largest decline over 5 years	-18.81%	-21.67%	+2.86%
Max Drawdown (10Y) Largest decline over 10 years	-27.28%	—	—
Current Drawdown Current decline from peak	-3.48%	-0.95%	-2.53%
Average Drawdown Average peak-to-trough decline	-5.16%	-5.95%	+0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.56%	3.03%	+1.53%

Volatility

XHC.TO vs. JAPN.TO - Volatility Comparison

iShares Global Healthcare Index ETF (CAD-Hedged) (XHC.TO) and CI WisdomTree Japan Equity Index ETF (JAPN.TO) have volatilities of 6.16% and 6.07%, 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.

Volatility by Period

	XHC.TO	JAPN.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.16%	6.07%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	11.88%	14.45%	-2.57%
Volatility (1Y) Calculated over the trailing 1-year period	15.54%	18.72%	-3.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.24%	19.16%	-4.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.86%	19.26%	-3.40%

XHC.TO vs. JAPN.TO - Expense Ratio Comparison

XHC.TO has a 0.66% expense ratio, which is higher than JAPN.TO's 0.48% expense ratio.

Dividends

XHC.TO vs. JAPN.TO - Dividend Comparison

XHC.TO's dividend yield for the trailing twelve months is around 1.90%, more than JAPN.TO's 1.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JAPN.TO CI WisdomTree Japan Equity Index ETF	1.52%	2.08%	1.58%	1.51%	2.59%	1.35%	1.36%	2.12%	0.62%	0.00%	0.00%	0.00%
XHC.TO iShares Global Healthcare Index ETF (CAD-Hedged)	1.90%	1.87%	4.42%	2.38%	0.84%	0.80%	0.97%	1.07%	1.68%	1.14%	1.63%	2.14%

Frequently Asked Questions

Can I hold both XHC.TO and JAPN.TO in my portfolio?

XHC.TO and JAPN.TO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XHC.TO or JAPN.TO?

On fees, JAPN.TO is cheaper at 0.48% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XHC.TO or JAPN.TO?

JAPN.TO is cheaper with a 0.48% expense ratio, compared with 0.66% for XHC.TO.

What is the main difference between XHC.TO and JAPN.TO?

XHC.TO is categorized as Health & Biotech Equities, while JAPN.TO is Japan Equities. XHC.TO tracks Morningstar Gbl GR CAD, while JAPN.TO tracks WisdomTree Japan Equity Index CAD. They also come from different issuers: iShares and CI Investments. Their fees differ too: 0.66% for XHC.TO and 0.48% for JAPN.TO.