XHD.TO vs. XUS-U.TO

Last updated Jun 4, 2026

XHD.TO (iShares U.S. High Dividend Equity Index ETF (CAD-Hedged)) and XUS-U.TO (iShares Core S&P 500 Index ETF) are both exchange-traded funds - XHD.TO is a Large Cap Blend Equities fund tracking the Morningstar US Market TR CAD, while XUS-U.TO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, XHD.TO returned 6.55%/yr vs 16.56%/yr for XUS-U.TO. At a 0.34 correlation, their price movements are largely independent. XHD.TO charges 0.33%/yr vs 0.09%/yr for XUS-U.TO.

Performance

XHD.TO vs. XUS-U.TO - 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 Core S&P 500 Index ETF (XUS-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both stocks are quite close, with XHD.TO having a 11.94% return and XUS-U.TO slightly lower at 11.92%.

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%

XUS-U.TO

• 1D: -0.03%
• 1M: 7.46%
• YTD: 11.92%
• 6M: 10.34%
• 1Y: 29.46%
• 3Y*: 23.24%
• 5Y*: 16.56%
• 10Y*: —

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

XHD.TO vs. XUS-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
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%	4.90%
XUS-U.TO iShares Core S&P 500 Index ETF	11.92%	12.26%	35.04%	23.39%	-13.24%	26.58%	16.01%	6.29%

Correlation

The correlation between XHD.TO and XUS-U.TO is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (All Time) Calculated using the full available price history since Oct 16, 2019	0.34

Over the past year, the correlation between XHD.TO and XUS-U.TO has dropped to 0.11 - well below their long-term average of 0.34, suggesting their price drivers have been diverging.

Return for Risk

XHD.TO vs. XUS-U.TO — 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

XUS-U.TO

XUS-U.TO Risk / Return Rank: 68
XUS-U.TO Sharpe Ratio Rank: 68
XUS-U.TO Sortino Ratio Rank: 69
XUS-U.TO Omega Ratio Rank: 68
XUS-U.TO Calmar Ratio Rank: 60
XUS-U.TO Martin Ratio Rank: 74

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. XUS-U.TO - 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 Core S&P 500 Index ETF (XUS-U.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.

	XHD.TO	XUS-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.04	2.44	-1.40
Sortino ratio: Return per unit of downside risk	1.45	3.38	-1.94
Omega ratio: Gain probability vs. loss probability	1.20	1.44	-0.25
Calmar ratio: Return relative to maximum drawdown	1.80	3.31	-1.50
Martin ratio: Return relative to average drawdown	5.11	13.10	-7.99
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. XUS-U.TO - Sharpe Ratio Comparison

The current XHD.TO Sharpe Ratio is 1.04, which is lower than the XUS-U.TO Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of XHD.TO and XUS-U.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.

Sharpe Ratios by Period

	XHD.TO	XUS-U.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	2.44	-1.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	1.11	-0.61
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	1.00	-0.47

Drawdowns

XHD.TO vs. XUS-U.TO - Drawdown Comparison

The maximum XHD.TO drawdown since its inception was -38.71%, which is greater than XUS-U.TO's maximum drawdown of -27.29%. Use the drawdown chart below to compare losses from any high point for XHD.TO and XUS-U.TO.

Drawdown Indicators

	XHD.TO	XUS-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-38.71%	-27.29%	-11.42%
Max Drawdown (1Y) Largest decline over 1 year	-6.51%	-8.95%	+2.44%
Max Drawdown (3Y) Largest decline over 3 years	-12.75%	-18.70%	+5.95%
Max Drawdown (5Y) Largest decline over 5 years	-16.38%	-22.52%	+6.14%
Max Drawdown (10Y) Largest decline over 10 years	-38.71%	—	—
Current Drawdown Current decline from peak	-2.45%	-0.03%	-2.42%
Average Drawdown Average peak-to-trough decline	-3.93%	-4.57%	+0.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	2.25%	+0.04%

Volatility

XHD.TO vs. XUS-U.TO - Volatility Comparison

iShares U.S. High Dividend Equity Index ETF (CAD-Hedged) (XHD.TO) has a higher volatility of 3.78% compared to iShares Core S&P 500 Index ETF (XUS-U.TO) at 2.79%. This indicates that XHD.TO's price experiences larger fluctuations and is considered to be riskier than XUS-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XHD.TO	XUS-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.78%	2.79%	+0.99%
Volatility (6M) Calculated over the trailing 6-month period	9.40%	9.13%	+0.27%
Volatility (1Y) Calculated over the trailing 1-year period	11.28%	12.13%	-0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.03%	14.96%	-1.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.53%	17.10%	-1.57%

XHD.TO vs. XUS-U.TO - Expense Ratio Comparison

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

Dividends

XHD.TO vs. XUS-U.TO - Dividend Comparison

XHD.TO's dividend yield for the trailing twelve months is around 2.38%, more than XUS-U.TO's 0.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
XUS-U.TO iShares Core S&P 500 Index ETF	0.82%	0.91%	0.74%	0.90%	1.04%	0.71%	0.91%	0.04%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XHD.TO and XUS-U.TO in my portfolio?

XHD.TO and XUS-U.TO have a correlation of 0.11, 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 XUS-U.TO?

On fees, XUS-U.TO 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 XUS-U.TO?

XUS-U.TO is cheaper with a 0.09% expense ratio, compared with 0.33% for XHD.TO.

What is the main difference between XHD.TO and XUS-U.TO?

XHD.TO is categorized as Large Cap Blend Equities, while XUS-U.TO is S&P 500. XHD.TO tracks Morningstar US Market TR CAD, while XUS-U.TO tracks S&P 500 Index. Their fees differ too: 0.33% for XHD.TO and 0.09% for XUS-U.TO.