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XHD.TO vs. SCHD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XHD.TO vs. SCHD

Last updated Jun 25, 2026

XHD.TO (iShares U.S. High Dividend Equity Index ETF (CAD-Hedged)) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - XHD.TO is a Large Cap Blend Equities fund tracking the Morningstar US Market TR CAD, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 10 years, XHD.TO returned 5.86%/yr vs 13.77%/yr for SCHD. A 0.69 correlation means they provide meaningful diversification when combined. XHD.TO charges 0.33%/yr vs 0.06%/yr for SCHD.

Performance

XHD.TO vs. SCHD - 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 Schwab U.S. Dividend Equity ETF (SCHD). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, XHD.TO achieves a 12.83% return, which is significantly lower than SCHD's 21.02% return. Over the past 10 years, XHD.TO has underperformed SCHD with an annualized return of 5.86%, while SCHD has yielded a comparatively higher 13.77% annualized return.

XHD.TO

1D
0.23%
1M
-1.67%
YTD
12.83%
6M
6.86%
1Y
6.26%
3Y*
8.23%
5Y*
6.02%
10Y*
5.86%

SCHD

1D
-0.57%
1M
-0.33%
YTD
21.02%
6M
20.09%
1Y
27.54%
3Y*
17.25%
5Y*
11.50%
10Y*
13.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XHD.TO vs. SCHD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XHD.TO
iShares U.S. High Dividend Equity Index ETF (CAD-Hedged)		12.83%-1.36%9.56%0.00%4.27%17.97%-9.44%18.01%-5.54%11.80%
SCHD
Schwab U.S. Dividend Equity ETF		21.00%-0.42%21.11%2.06%2.87%29.81%12.30%22.05%2.38%12.66%

Correlation

The correlation between XHD.TO and SCHD is 0.67, 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

0.67

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

0.69

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

0.69

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

0.69

Correlation (All Time)
Calculated using the full available price history since Aug 20, 2012

0.69

The correlation between XHD.TO and SCHD has been stable across timeframes, ranging from 0.67 to 0.69 - a consistent structural relationship.

XHD.TO vs. SCHD - Sectors Allocation Comparison

Sectors
XHD.TO
SCHD

Consumer Defensive

25.1%
18.5%

Healthcare

23.1%
18.4%

Energy

20.7%
14.6%

Consumer Cyclical

9.5%
6.7%

Utilities

8.3%
0.0%

Communication Services

5.8%
6.0%

Financial Services

4.8%
9.1%

Industrials

3.6%
7.4%

Basic Materials

0.8%
1.2%

Technology

0.2%
19.4%

Real Estate

-

-

Consumer Defensive

XHD.TO
25.1%
SCHD
18.5%

Healthcare

XHD.TO
23.1%
SCHD
18.4%

Energy

XHD.TO
20.7%
SCHD
14.6%

Consumer Cyclical

XHD.TO
9.5%
SCHD
6.7%

Utilities

XHD.TO
8.3%
SCHD
0.0%

Communication Services

XHD.TO
5.8%
SCHD
6.0%

Financial Services

XHD.TO
4.8%
SCHD
9.1%

Industrials

XHD.TO
3.6%
SCHD
7.4%

Basic Materials

XHD.TO
0.8%
SCHD
1.2%

Technology

XHD.TO
0.2%
SCHD
19.4%

Real Estate

XHD.TO

-

SCHD

-

Compare stocks, funds, or ETFs

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

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

Schwab U.S. Dividend Equity ETF

Often compared with XHD.TO:
XHD.TO vs. XDIV.TOXHD.TO vs. VDY.TOXHD.TO vs. XEQT.TOXHD.TO vs. XDGH.TOXHD.TO vs. XDU.TOXHD.TO vs. HDIVXXHD.TO vs. XIU.TO
Often compared with SCHD:
SCHD vs. VOOSCHD vs. VYMSCHD vs. SPYSCHD vs. SCHGSCHD vs. JEPISCHD vs. FDVVSCHD vs. VIG

Return for Risk

XHD.TO vs. SCHD — 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: 1616
Overall Rank
XHD.TO Sharpe Ratio Rank: 1515
Sharpe Ratio Rank
XHD.TO Sortino Ratio Rank: 1313
Sortino Ratio Rank
XHD.TO Omega Ratio Rank: 1717
Omega Ratio Rank
XHD.TO Calmar Ratio Rank: 1616
Calmar Ratio Rank
XHD.TO Martin Ratio Rank: 1919
Martin Ratio Rank
SCHD
SCHD Risk / Return Rank: 7777
Overall Rank
SCHD Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
SCHD Sortino Ratio Rank: 8080
Sortino Ratio Rank
SCHD Omega Ratio Rank: 7070
Omega Ratio Rank
SCHD Calmar Ratio Rank: 9090
Calmar Ratio Rank
SCHD Martin Ratio Rank: 7373
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. SCHD - 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 Schwab U.S. Dividend Equity ETF (SCHD). 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.

XHD.TOSCHDDifference
Sharpe ratioReturn per unit of total volatility
0.39
2.32

-1.93

Sortino ratioReturn per unit of downside risk
0.58
3.55

-2.97

Omega ratioGain probability vs. loss probability

1.11

1.40

-0.30

Calmar ratioReturn relative to maximum drawdown

0.56

6.68

-6.12

Martin ratioReturn relative to average drawdown

1.94

16.64

-14.70

XHD.TO vs. SCHD - Sharpe Ratio Comparison

The current XHD.TO Sharpe Ratio is 0.39, which is lower than the SCHD Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of XHD.TO and SCHD, 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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Drawdowns

XHD.TO vs. SCHD - Drawdown Comparison

The maximum XHD.TO drawdown since its inception was -38.71%, which is greater than SCHD's maximum drawdown of -27.31%. Use the drawdown chart below to compare losses from any high point for XHD.TO and SCHD.

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Drawdown Indicators

XHD.TOSCHDDifference

Max Drawdown

Largest peak-to-trough decline

-38.71%

-27.31%

-11.40%

Max Drawdown (1Y)

Largest decline over 1 year

-11.29%

-4.14%

-7.15%

Max Drawdown (3Y)

Largest decline over 3 years

-12.74%

-15.24%

+2.50%

Max Drawdown (5Y)

Largest decline over 5 years

-16.37%

-15.24%

-1.13%

Max Drawdown (10Y)

Largest decline over 10 years

-38.71%

-27.31%

-11.40%

Current Drawdown

Current decline from peak

-1.67%

-1.70%

+0.03%

Average Drawdown

Average peak-to-trough decline

-3.95%

-3.04%

-0.91%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.23%

1.66%

+1.57%

Volatility

XHD.TO vs. SCHD - Volatility Comparison

The current volatility for iShares U.S. High Dividend Equity Index ETF (CAD-Hedged) (XHD.TO) is 3.20%, while Schwab U.S. Dividend Equity ETF (SCHD) has a volatility of 3.46%. This indicates that XHD.TO experiences smaller price fluctuations and is considered to be less risky than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XHD.TOSCHDDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.20%

3.46%

-0.26%

Volatility (6M)

Calculated over the trailing 6-month period

14.98%

8.75%

+6.23%

Volatility (1Y)

Calculated over the trailing 1-year period

16.00%

11.92%

+4.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.67%

15.56%

-0.89%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.39%

17.82%

-1.43%

XHD.TO vs. SCHD - Expense Ratio Comparison

XHD.TO has a 0.33% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

XHD.TO vs. SCHD - Dividend Comparison

XHD.TO's dividend yield for the trailing twelve months is around 2.42%, less than SCHD's 3.33% yield.

PositionTTM20252024202320222021202020192018201720162015
SCHD
Schwab U.S. Dividend Equity ETF		3.33%3.82%3.64%3.49%3.39%2.78%3.16%2.98%3.06%2.63%2.89%2.97%
XHD.TO
iShares U.S. High Dividend Equity Index ETF (CAD-Hedged)		2.42%2.74%3.06%3.16%2.75%2.87%3.51%2.51%2.87%2.41%2.54%3.07%

Frequently Asked Questions

XHD.TO and SCHD have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SCHD is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SCHD is cheaper with a 0.06% expense ratio, compared with 0.33% for XHD.TO.

XHD.TO is categorized as Large Cap Blend Equities, while SCHD is Dividend. XHD.TO tracks Morningstar US Market TR CAD, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.33% for XHD.TO and 0.06% for SCHD.

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