XHU.TO vs. ZSP.TO
XHU.TO (iShares U.S. High Dividend Equity Index ETF) and ZSP.TO (BMO S&P 500 Index ETF) are both exchange-traded funds - XHU.TO is a Large Cap Blend Equities fund tracking the Morningstar US Market TR CAD, while ZSP.TO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, XHU.TO returned 7.63%/yr vs 15.98%/yr for ZSP.TO. At a 0.49 correlation, their price movements are largely independent. XHU.TO charges 0.34%/yr vs 0.09%/yr for ZSP.TO.
Performance
XHU.TO vs. ZSP.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XHU.TO achieves a 13.95% return, which is significantly higher than ZSP.TO's 12.15% return. Over the past 10 years, XHU.TO has underperformed ZSP.TO with an annualized return of 7.63%, while ZSP.TO has yielded a comparatively higher 15.98% annualized return.
XHU.TO
- 1D
- 1.05%
- 1M
- 2.71%
- YTD
- 13.95%
- 6M
- 4.75%
- 1Y
- 13.69%
- 3Y*
- 11.06%
- 5Y*
- 9.96%
- 10Y*
- 7.63%
ZSP.TO
- 1D
- -0.29%
- 1M
- 7.18%
- YTD
- 12.15%
- 6M
- 10.04%
- 1Y
- 28.96%
- 3Y*
- 23.44%
- 5Y*
- 16.74%
- 10Y*
- 15.98%
XHU.TO vs. ZSP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XHU.TO iShares U.S. High Dividend Equity Index ETF | 13.95% | -0.28% | 16.64% | -1.52% | 12.37% | 18.23% | -9.27% | 13.08% | 3.95% | 5.12% |
ZSP.TO BMO S&P 500 Index ETF | 12.15% | 12.02% | 35.07% | 23.30% | -12.68% | 27.53% | 15.61% | 24.69% | 3.24% | 13.54% |
Correlation
The correlation between XHU.TO and ZSP.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2015 | 0.49 |
Over the past year, the correlation between XHU.TO and ZSP.TO has dropped to 0.18 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.
XHU.TO vs. ZSP.TO - Sectors Allocation Comparison
Sectors
XHU.TO
ZSP.TO
Consumer Defensive
Energy
Healthcare
Financial Services
Technology
Utilities
Consumer Cyclical
Industrials
Basic Materials
Communication Services
Real Estate
-
Consumer Defensive
XHU.TO
ZSP.TO
Energy
XHU.TO
ZSP.TO
Healthcare
XHU.TO
ZSP.TO
Financial Services
XHU.TO
ZSP.TO
Technology
XHU.TO
ZSP.TO
Utilities
XHU.TO
ZSP.TO
Consumer Cyclical
XHU.TO
ZSP.TO
Industrials
XHU.TO
ZSP.TO
Basic Materials
XHU.TO
ZSP.TO
Communication Services
XHU.TO
ZSP.TO
Real Estate
XHU.TO
-
ZSP.TO
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Return for Risk
XHU.TO vs. ZSP.TO — Risk / Return Rank
XHU.TO
ZSP.TO
XHU.TO vs. ZSP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. High Dividend Equity Index ETF (XHU.TO) and BMO S&P 500 Index ETF (ZSP.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.
| XHU.TO | ZSP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.36 | ||
| Sortino ratioReturn per unit of downside risk | -1.91 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.47 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | 3.38 | -1.80 |
| Martin ratioReturn relative to average drawdown | 5.48 | 12.70 | -7.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XHU.TO | ZSP.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.17 | 2.53 | -1.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 1.13 | -0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.98 | -0.45 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 1.15 | -0.60 |
Drawdowns
XHU.TO vs. ZSP.TO - Drawdown Comparison
The maximum XHU.TO drawdown since its inception was -29.94%, which is greater than ZSP.TO's maximum drawdown of -26.94%. Use the drawdown chart below to compare losses from any high point for XHU.TO and ZSP.TO.
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Drawdown Indicators
| XHU.TO | ZSP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.94% | -26.94% | -3.00% |
Max Drawdown (1Y)Largest decline over 1 year | -8.73% | -8.61% | -0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -12.53% | -18.95% | +6.42% |
Max Drawdown (5Y)Largest decline over 5 years | -12.53% | -22.25% | +9.72% |
Max Drawdown (10Y)Largest decline over 10 years | -29.94% | -26.94% | -3.00% |
Current DrawdownCurrent decline from peak | -1.84% | -0.29% | -1.55% |
Average DrawdownAverage peak-to-trough decline | -3.73% | -3.34% | -0.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 2.29% | +0.22% |
Volatility
XHU.TO vs. ZSP.TO - Volatility Comparison
iShares U.S. High Dividend Equity Index ETF (XHU.TO) has a higher volatility of 3.53% compared to BMO S&P 500 Index ETF (ZSP.TO) at 3.14%. This indicates that XHU.TO's price experiences larger fluctuations and is considered to be riskier than ZSP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XHU.TO | ZSP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.53% | 3.14% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 10.28% | 8.65% | +1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.79% | 11.53% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.89% | 14.97% | -3.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.38% | 16.36% | -1.98% |
XHU.TO vs. ZSP.TO - Expense Ratio Comparison
XHU.TO has a 0.34% expense ratio, which is higher than ZSP.TO's 0.09% expense ratio.
Dividends
XHU.TO vs. ZSP.TO - Dividend Comparison
XHU.TO's dividend yield for the trailing twelve months is around 2.44%, more than ZSP.TO's 0.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XHU.TO iShares U.S. High Dividend Equity Index ETF | 2.44% | 2.75% | 2.72% | 2.86% | 2.63% | 2.60% | 3.18% | 2.25% | 2.52% | 2.27% | 2.38% | 2.30% |
ZSP.TO BMO S&P 500 Index ETF | 0.75% | 0.82% | 0.94% | 1.33% | 1.44% | 1.15% | 1.44% | 1.47% | 1.63% | 1.63% | 2.20% | 1.53% |
Frequently Asked Questions
XHU.TO and ZSP.TO have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZSP.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZSP.TO is cheaper with a 0.09% expense ratio, compared with 0.34% for XHU.TO.
XHU.TO is categorized as Large Cap Blend Equities, while ZSP.TO is S&P 500. XHU.TO tracks Morningstar US Market TR CAD, while ZSP.TO tracks S&P 500 Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.34% for XHU.TO and 0.09% for ZSP.TO.
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