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XHD.TO vs. CLU.NEO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XHD.TO vs. CLU.NEO

Last updated Jun 4, 2026

XHD.TO (iShares U.S. High Dividend Equity Index ETF (CAD-Hedged)) and CLU.NEO (iShares US Fundamental Index ETF (CAD-Hedged) Common Class) are both Large Cap Blend Equities funds from iShares - XHD.TO tracks the Morningstar US Market TR CAD while CLU.NEO tracks the FTSE RAFI US 1000 Canadian Dollar Hedged Index. Both are passively managed. Over the past 10 years, XHD.TO returned 6.22%/yr vs 11.02%/yr for CLU.NEO. A 0.68 correlation means they provide meaningful diversification when combined. XHD.TO charges 0.33%/yr vs 0.72%/yr for CLU.NEO.

Performance

XHD.TO vs. CLU.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares U.S. High Dividend Equity Index ETF (CAD-Hedged) (XHD.TO) and iShares US Fundamental Index ETF (CAD-Hedged) Common Class (CLU.NEO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XHD.TO achieves a 11.94% return, which is significantly higher than CLU.NEO's 8.69% return. Over the past 10 years, XHD.TO has underperformed CLU.NEO with an annualized return of 6.22%, while CLU.NEO has yielded a comparatively higher 11.02% annualized return.

XHD.TO

1D
0.83%
1M
0.69%
YTD
11.94%
6M
5.51%
1Y
11.69%
3Y*
9.73%
5Y*
6.55%
10Y*
6.22%

CLU.NEO

1D
-0.17%
1M
1.48%
YTD
8.69%
6M
10.24%
1Y
25.16%
3Y*
16.95%
5Y*
9.30%
10Y*
11.02%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XHD.TO vs. CLU.NEO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XHD.TO
iShares U.S. High Dividend Equity Index ETF (CAD-Hedged)		11.94%3.92%9.50%-0.07%4.22%17.88%-9.51%17.96%-5.62%11.73%
CLU.NEO
iShares US Fundamental Index ETF (CAD-Hedged) Common Class		8.69%15.20%14.82%13.13%-9.37%31.13%3.57%25.41%-11.16%14.83%

Correlation

The correlation between XHD.TO and CLU.NEO is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.35

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

0.47

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

0.58

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

0.65

Correlation (All Time)
Calculated using the full available price history since Aug 21, 2012

0.68

Over the past year, the correlation between XHD.TO and CLU.NEO has dropped to 0.35 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

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iShares U.S. High Dividend Equity Index ETF (CAD-Hedged)

iShares US Fundamental Index ETF (CAD-Hedged) Common Class

Often compared with XHD.TO:
XHD.TO vs. SCHDXHD.TO vs. XDIV.TOXHD.TO vs. VDY.TOXHD.TO vs. XEQT.TOXHD.TO vs. XDGH.TOXHD.TO vs. XDU.TOXHD.TO vs. HDIVX
Often compared with CLU.NEO:
CLU.NEO vs. FLCCCLU.NEO vs. IUSCLU.NEO vs. RDVYCLU.NEO vs. BCUSCLU.NEO vs. KATCLU.NEO vs. DFNDCLU.NEO vs. FEAC

Return for Risk

XHD.TO vs. CLU.NEO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XHD.TO
XHD.TO Risk / Return Rank: 3030
Overall Rank
XHD.TO Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
XHD.TO Sortino Ratio Rank: 2626
Sortino Ratio Rank
XHD.TO Omega Ratio Rank: 2828
Omega Ratio Rank
XHD.TO Calmar Ratio Rank: 3636
Calmar Ratio Rank
XHD.TO Martin Ratio Rank: 3333
Martin Ratio Rank
CLU.NEO
CLU.NEO Risk / Return Rank: 8181
Overall Rank
CLU.NEO Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
CLU.NEO Sortino Ratio Rank: 8484
Sortino Ratio Rank
CLU.NEO Omega Ratio Rank: 8787
Omega Ratio Rank
CLU.NEO Calmar Ratio Rank: 7777
Calmar Ratio Rank
CLU.NEO Martin Ratio Rank: 7878
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.

XHD.TO vs. CLU.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. High Dividend Equity Index ETF (CAD-Hedged) (XHD.TO) and iShares US Fundamental Index ETF (CAD-Hedged) Common Class (CLU.NEO). 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.

XHD.TOCLU.NEODifference
Sharpe ratioReturn per unit of total volatility
1.04
2.50

-1.46

Sortino ratioReturn per unit of downside risk
1.45
3.77

-2.32

Omega ratioGain probability vs. loss probability

1.20

1.54

-0.35

Calmar ratioReturn relative to maximum drawdown

1.80

3.86

-2.06

Martin ratioReturn relative to average drawdown

5.11

14.84

-9.73

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

XHD.TO vs. CLU.NEO - Sharpe Ratio Comparison

The current XHD.TO Sharpe Ratio is 1.04, which is lower than the CLU.NEO Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of XHD.TO and CLU.NEO, 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

XHD.TOCLU.NEODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.04

2.50

-1.46

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.51

0.64

-0.14

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.40

0.61

-0.21

Sharpe Ratio (All Time)

Calculated using the full available price history

0.53

0.61

-0.09

Drawdowns

XHD.TO vs. CLU.NEO - Drawdown Comparison

The maximum XHD.TO drawdown since its inception was -38.71%, roughly equal to the maximum CLU.NEO drawdown of -39.93%. Use the drawdown chart below to compare losses from any high point for XHD.TO and CLU.NEO.

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Drawdown Indicators

XHD.TOCLU.NEODifference

Max Drawdown

Largest peak-to-trough decline

-38.71%

-39.93%

+1.22%

Max Drawdown (1Y)

Largest decline over 1 year

-6.51%

-6.55%

+0.04%

Max Drawdown (3Y)

Largest decline over 3 years

-12.75%

-16.57%

+3.82%

Max Drawdown (5Y)

Largest decline over 5 years

-16.38%

-20.66%

+4.28%

Max Drawdown (10Y)

Largest decline over 10 years

-38.71%

-39.93%

+1.22%

Current Drawdown

Current decline from peak

-2.45%

-0.70%

-1.75%

Average Drawdown

Average peak-to-trough decline

-3.93%

-4.74%

+0.81%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.29%

1.70%

+0.59%

Volatility

XHD.TO vs. CLU.NEO - Volatility Comparison

iShares U.S. High Dividend Equity Index ETF (CAD-Hedged) (XHD.TO) has a higher volatility of 3.78% compared to iShares US Fundamental Index ETF (CAD-Hedged) Common Class (CLU.NEO) at 2.30%. This indicates that XHD.TO's price experiences larger fluctuations and is considered to be riskier than CLU.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XHD.TOCLU.NEODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.78%

2.30%

+1.48%

Volatility (6M)

Calculated over the trailing 6-month period

9.40%

7.24%

+2.16%

Volatility (1Y)

Calculated over the trailing 1-year period

11.28%

10.11%

+1.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.03%

14.54%

-1.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.53%

18.08%

-2.55%

XHD.TO vs. CLU.NEO - Expense Ratio Comparison

XHD.TO has a 0.33% expense ratio, which is lower than CLU.NEO's 0.72% expense ratio.

Dividends

XHD.TO vs. CLU.NEO - Dividend Comparison

XHD.TO's dividend yield for the trailing twelve months is around 2.38%, more than CLU.NEO's 1.20% yield.

PositionTTM20252024202320222021202020192018201720162015
CLU.NEO
iShares US Fundamental Index ETF (CAD-Hedged) Common Class		1.20%1.31%1.32%1.35%1.63%1.19%1.66%1.46%1.77%1.46%1.63%1.87%
XHD.TO
iShares U.S. High Dividend Equity Index ETF (CAD-Hedged)		2.38%2.61%2.99%3.09%2.69%2.81%3.44%2.46%2.81%2.36%2.48%3.00%

Frequently Asked Questions

XHD.TO and CLU.NEO have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XHD.TO is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XHD.TO is cheaper with a 0.33% expense ratio, compared with 0.72% for CLU.NEO.

XHD.TO tracks Morningstar US Market TR CAD, while CLU.NEO tracks FTSE RAFI US 1000 Canadian Dollar Hedged Index. Their fees differ too: 0.33% for XHD.TO and 0.72% for CLU.NEO.

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