XIC.TO vs. AIRR

Last updated Jun 9, 2026

XIC.TO (iShares Core S&P/TSX Capped Composite Index ETF) and AIRR (First Trust RBA American Industrial Renaissance ETF) are both exchange-traded funds - XIC.TO is a Canada Equities fund tracking the S&P/TSX Capped Composite Index, while AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index. Both are passively managed. Over the past 10 years, XIC.TO returned 12.53%/yr vs 22.72%/yr for AIRR. A 0.61 correlation means they provide meaningful diversification when combined. XIC.TO charges 0.06%/yr vs 0.69%/yr for AIRR.

Performance

XIC.TO vs. AIRR - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) and First Trust RBA American Industrial Renaissance ETF (AIRR). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, XIC.TO achieves a 9.79% return, which is significantly lower than AIRR's 32.74% return. Over the past 10 years, XIC.TO has underperformed AIRR with an annualized return of 12.53%, while AIRR has yielded a comparatively higher 22.72% annualized return.

XIC.TO

• 1D: 0.27%
• 1M: 1.36%
• YTD: 9.79%
• 6M: 11.86%
• 1Y: 33.59%
• 3Y*: 23.51%
• 5Y*: 14.41%
• 10Y*: 12.53%

AIRR

• 1D: 0.37%
• 1M: 0.88%
• YTD: 32.74%
• 6M: 30.30%
• 1Y: 64.89%
• 3Y*: 37.34%
• 5Y*: 28.51%
• 10Y*: 22.72%

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

XIC.TO vs. AIRR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF	9.79%	31.51%	21.48%	11.74%	-5.82%	23.43%	5.61%	22.76%	-8.72%	8.99%
AIRR First Trust RBA American Industrial Renaissance ETF	32.78%	22.08%	44.75%	28.31%	4.12%	32.95%	14.39%	28.45%	-13.89%	8.40%

Correlation

The correlation between XIC.TO and AIRR is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Mar 12, 2014	0.61

The correlation between XIC.TO and AIRR has been stable across timeframes, ranging from 0.60 to 0.65 - a consistent structural relationship.

XIC.TO vs. AIRR - Sectors Allocation Comparison

Sectors	XIC.TO	AIRR
Financial Services	33.8%	9.6%
Basic Materials	17.7%	-
Energy	17.3%	3.8%
Industrials	10.2%	84.6%
Technology	7.1%	0.5%
Consumer Cyclical	3.8%	-
Consumer Defensive	2.8%	-
Utilities	2.8%	-
Communication Services	1.8%	-
Real Estate	1.5%	-
Healthcare	0.1%	-

Return for Risk

XIC.TO vs. AIRR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XIC.TO

XIC.TO Risk / Return Rank: 84
XIC.TO Sharpe Ratio Rank: 87
XIC.TO Sortino Ratio Rank: 83
XIC.TO Omega Ratio Rank: 85
XIC.TO Calmar Ratio Rank: 78
XIC.TO Martin Ratio Rank: 86

AIRR

AIRR Risk / Return Rank: 82
AIRR Sharpe Ratio Rank: 83
AIRR Sortino Ratio Rank: 79
AIRR Omega Ratio Rank: 73
AIRR Calmar Ratio Rank: 88
AIRR Martin Ratio Rank: 88

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.

XIC.TO vs. AIRR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) and First Trust RBA American Industrial Renaissance ETF (AIRR). 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.

	XIC.TO	AIRR	Difference
Sharpe ratio: Return per unit of total volatility	2.61	2.51	+0.10
Sortino ratio: Return per unit of downside risk	3.35	3.28	+0.07
Omega ratio: Gain probability vs. loss probability	1.47	1.39	+0.07
Calmar ratio: Return relative to maximum drawdown	3.63	5.56	-1.92
Martin ratio: Return relative to average drawdown	16.76	19.29	-2.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XIC.TO vs. AIRR - Sharpe Ratio Comparison

The current XIC.TO Sharpe Ratio is 2.61, which is comparable to the AIRR Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of XIC.TO and AIRR, 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

	XIC.TO	AIRR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.61	2.51	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.10	1.10	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	0.85	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.73	-0.17

Drawdowns

XIC.TO vs. AIRR - Drawdown Comparison

The maximum XIC.TO drawdown since its inception was -47.27%, which is greater than AIRR's maximum drawdown of -37.96%. Use the drawdown chart below to compare losses from any high point for XIC.TO and AIRR.

Drawdown Indicators

	XIC.TO	AIRR	Difference
Max Drawdown Largest peak-to-trough decline	-47.27%	-37.96%	-9.31%
Max Drawdown (1Y) Largest decline over 1 year	-9.29%	-11.74%	+2.45%
Max Drawdown (3Y) Largest decline over 3 years	-12.27%	-27.05%	+14.78%
Max Drawdown (5Y) Largest decline over 5 years	-16.24%	-27.05%	+10.81%
Max Drawdown (10Y) Largest decline over 10 years	-37.21%	-37.96%	+0.75%
Current Drawdown Current decline from peak	-2.06%	-2.45%	+0.39%
Average Drawdown Average peak-to-trough decline	-6.72%	-6.53%	-0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	3.38%	-1.37%

Volatility

XIC.TO vs. AIRR - Volatility Comparison

The current volatility for iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) is 4.28%, while First Trust RBA American Industrial Renaissance ETF (AIRR) has a volatility of 7.36%. This indicates that XIC.TO experiences smaller price fluctuations and is considered to be less risky than AIRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XIC.TO	AIRR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.28%	7.36%	-3.08%
Volatility (6M) Calculated over the trailing 6-month period	10.63%	20.64%	-10.01%
Volatility (1Y) Calculated over the trailing 1-year period	12.96%	26.05%	-13.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.19%	26.00%	-12.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.98%	26.96%	-11.98%

XIC.TO vs. AIRR - Expense Ratio Comparison

XIC.TO has a 0.06% expense ratio, which is lower than AIRR's 0.69% expense ratio.

Dividends

XIC.TO vs. AIRR - Dividend Comparison

XIC.TO's dividend yield for the trailing twelve months is around 2.04%, more than AIRR's 0.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIRR First Trust RBA American Industrial Renaissance ETF	0.14%	0.19%	0.18%	0.23%	0.12%	0.05%	0.10%	0.20%	0.43%	0.30%	0.08%	0.47%
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF	2.04%	2.23%	2.64%	2.96%	3.10%	2.45%	3.03%	3.01%	3.19%	2.49%	2.72%	3.21%

Frequently Asked Questions

Can I hold both XIC.TO and AIRR in my portfolio?

XIC.TO and AIRR have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XIC.TO or AIRR?

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

Which ETF is cheaper, XIC.TO or AIRR?

XIC.TO is cheaper with a 0.06% expense ratio, compared with 0.69% for AIRR.

What is the main difference between XIC.TO and AIRR?

XIC.TO is categorized as Canada Equities, while AIRR is Building & Construction. XIC.TO tracks S&P/TSX Capped Composite Index, while AIRR tracks Richard Bernstein Advisors American Industrial Renaissance Index. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.06% for XIC.TO and 0.69% for AIRR.