XHD.TO vs. XDIV

Last updated Jun 4, 2026

XHD.TO (iShares U.S. High Dividend Equity Index ETF (CAD-Hedged)) and XDIV (Roundhill S&P 500 No Dividend Target ETF) are both exchange-traded funds - XHD.TO is a Large Cap Blend Equities fund tracking the Morningstar US Market TR CAD, while XDIV is a S&P 500 fund actively managed by Roundhill. XHD.TO is passively managed, while XDIV is actively managed. At a 0.08 correlation, their price movements are largely independent. XHD.TO charges 0.33%/yr vs 0.09%/yr for XDIV.

Performance

XHD.TO vs. XDIV - 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 Roundhill S&P 500 No Dividend Target ETF (XDIV). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both investments are quite close, with XHD.TO having a 11.94% return and XDIV slightly higher at 12.04%.

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%

XDIV

• 1D: 0.00%
• 1M: 6.51%
• YTD: 12.04%
• 6M: 10.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XHD.TO vs. XDIV - Yearly Performance Comparison

	2026 (YTD)	2025
XHD.TO iShares U.S. High Dividend Equity Index ETF (CAD-Hedged)	11.94%	-3.61%
XDIV Roundhill S&P 500 No Dividend Target ETF	12.04%	10.44%

Correlation

The correlation between XHD.TO and XDIV is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 11, 2025	0.08

XHD.TO vs. XDIV - Sectors Allocation Comparison

Sectors	XHD.TO	XDIV
Consumer Defensive	24.1%	4.9%
Energy	22.3%	3.5%
Healthcare	16.5%	8.4%
Financial Services	11.1%	11.9%
Utilities	9.2%	2.3%
Technology	8.2%	36.2%
Consumer Cyclical	6.1%	10.1%
Industrials	1.4%	8.1%
Basic Materials	1.2%	1.8%
Communication Services	0.1%	10.9%
Real Estate	-	1.9%

Return for Risk

XHD.TO vs. XDIV — 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: 30
XHD.TO Sharpe Ratio Rank: 28
XHD.TO Sortino Ratio Rank: 26
XHD.TO Omega Ratio Rank: 28
XHD.TO Calmar Ratio Rank: 36
XHD.TO Martin Ratio Rank: 33

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. XDIV - 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 Roundhill S&P 500 No Dividend Target ETF (XDIV). 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.TO	XDIV	Difference
Sharpe ratio: Return per unit of total volatility	1.04	—	—
Sortino ratio: Return per unit of downside risk	1.45	—	—
Omega ratio: Gain probability vs. loss probability	1.20	—	—
Calmar ratio: Return relative to maximum drawdown	1.80	—	—
Martin ratio: Return relative to average drawdown	5.11	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	XHD.TO	XDIV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	2.18	-1.66

Drawdowns

XHD.TO vs. XDIV - Drawdown Comparison

The maximum XHD.TO drawdown since its inception was -38.71%, which is greater than XDIV's maximum drawdown of -8.85%. Use the drawdown chart below to compare losses from any high point for XHD.TO and XDIV.

Drawdown Indicators

	XHD.TO	XDIV	Difference
Max Drawdown Largest peak-to-trough decline	-38.71%	-8.85%	-29.86%
Max Drawdown (1Y) Largest decline over 1 year	-6.51%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-12.75%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.38%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.71%	—	—
Current Drawdown Current decline from peak	-2.45%	-0.27%	-2.18%
Average Drawdown Average peak-to-trough decline	-3.93%	-1.49%	-2.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	—	—

Volatility

Volatility by Period

	XHD.TO	XDIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.78%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.40%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.28%	12.23%	-0.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.03%	12.23%	+0.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.53%	12.23%	+3.30%

XHD.TO vs. XDIV - Expense Ratio Comparison

XHD.TO has a 0.33% expense ratio, which is higher than XDIV's 0.09% expense ratio.

Dividends

XHD.TO vs. XDIV - Dividend Comparison

XHD.TO's dividend yield for the trailing twelve months is around 2.38%, while XDIV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XDIV Roundhill S&P 500 No Dividend Target ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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

Can I hold both XHD.TO and XDIV in my portfolio?

XHD.TO and XDIV have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XHD.TO or XDIV?

On fees, XDIV is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XHD.TO or XDIV?

XDIV is cheaper with a 0.09% expense ratio, compared with 0.33% for XHD.TO.

What is the main difference between XHD.TO and XDIV?

XHD.TO is categorized as Large Cap Blend Equities, while XDIV is S&P 500. They also come from different issuers: iShares and Roundhill. Their fees differ too: 0.33% for XHD.TO and 0.09% for XDIV.