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XID.TO vs. XAD.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XID.TO vs. XAD.TO

Last updated Jul 4, 2026
See Documentation

XID.TO (iShares India Index ETF) and XAD.TO (iShares U.S. Aerospace & Defense Index ETF) are both exchange-traded funds - XID.TO is a India Equities fund tracking the Morningstar Gbl GR CAD, while XAD.TO is a Aerospace & Defense fund tracking the Dow Jones U.S. Select Aerospace & Defense Index. Both are passively managed. Over the past year, XID.TO returned -8.83% vs 39.08% for XAD.TO. At a 0.23 correlation, their price movements are largely independent. XID.TO charges 1.08%/yr vs 0.43%/yr for XAD.TO.

Performance

XID.TO vs. XAD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares India Index ETF (XID.TO) and iShares U.S. Aerospace & Defense Index ETF (XAD.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XID.TO achieves a -8.10% return, which is significantly lower than XAD.TO's 20.41% return.

XID.TO

1D
0.20%
1M
7.07%
6M
-8.48%
YTD
-8.10%
1Y
-8.83%
3Y*
3.80%
5Y*
5.24%
10Y*
7.40%

XAD.TO

1D
0.73%
1M
13.32%
6M
16.48%
YTD
20.41%
1Y
39.08%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XID.TO vs. XAD.TO - Yearly Performance Comparison

2026 (YTD)202520242023
XID.TO
iShares India Index ETF		-8.10%-0.28%12.36%4.67%
XAD.TO
iShares U.S. Aerospace & Defense Index ETF		20.41%41.77%25.00%13.86%

Correlation

The correlation between XID.TO and XAD.TO is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.22

Correlation (All Time)
Calculated using the full available price history since Sep 19, 2023

0.23

Compare stocks, funds, or ETFs

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

iShares India Index ETF

iShares U.S. Aerospace & Defense Index ETF

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Often compared with XAD.TO:
XAD.TO vs. SHLDXAD.TO vs. ITAXAD.TO vs. SHLD.TOXAD.TO vs. XARXAD.TO vs. XGD.TOXAD.TO vs. QQQXAD.TO vs. XUS.TO

Return for Risk

XID.TO vs. XAD.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XID.TO
XID.TO Risk / Return Rank: 55
Overall Rank
XID.TO Sharpe Ratio Rank: 44
Sharpe Ratio Rank
XID.TO Sortino Ratio Rank: 44
Sortino Ratio Rank
XID.TO Omega Ratio Rank: 44
Omega Ratio Rank
XID.TO Calmar Ratio Rank: 55
Calmar Ratio Rank
XID.TO Martin Ratio Rank: 55
Martin Ratio Rank
XAD.TO
XAD.TO Risk / Return Rank: 6363
Overall Rank
XAD.TO Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
XAD.TO Sortino Ratio Rank: 7272
Sortino Ratio Rank
XAD.TO Omega Ratio Rank: 6262
Omega Ratio Rank
XAD.TO Calmar Ratio Rank: 6565
Calmar Ratio Rank
XAD.TO Martin Ratio Rank: 4848
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.

XID.TO vs. XAD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares India Index ETF (XID.TO) and iShares U.S. Aerospace & Defense Index ETF (XAD.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.

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.

XID.TOXAD.TODifference
Sharpe ratioReturn per unit of total volatility
-0.60
1.84

-2.44

Sortino ratioReturn per unit of downside risk
-0.83
2.67

-3.50

Omega ratioGain probability vs. loss probability

0.91

1.31

-0.40

Calmar ratioReturn relative to maximum drawdown

-0.47

2.63

-3.11

Martin ratioReturn relative to average drawdown

-0.95

6.62

-7.57

XID.TO vs. XAD.TO - Sharpe Ratio Comparison

The current XID.TO Sharpe Ratio is -0.60, which is lower than the XAD.TO Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of XID.TO and XAD.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.

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Drawdowns

XID.TO vs. XAD.TO - Drawdown Comparison

The maximum XID.TO drawdown since its inception was -42.26%, which is greater than XAD.TO's maximum drawdown of -16.06%. Use the drawdown chart below to compare losses from any high point for XID.TO and XAD.TO.

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Drawdown Indicators

XID.TOXAD.TODifference

Max Drawdown

Largest peak-to-trough decline

-42.26%

-16.06%

-26.20%

Max Drawdown (1Y)

Largest decline over 1 year

-18.75%

-14.91%

-3.84%

Max Drawdown (3Y)

Largest decline over 3 years

-20.11%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-20.11%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-39.46%

—

—

Current Drawdown

Current decline from peak

-12.94%

0.00%

-12.94%

Average Drawdown

Average peak-to-trough decline

-10.45%

-2.87%

-7.58%

Ulcer Index

Depth and duration of drawdowns from previous peaks

9.34%

5.92%

+3.42%

Volatility

XID.TO vs. XAD.TO - Volatility Comparison

The current volatility for iShares India Index ETF (XID.TO) is 3.62%, while iShares U.S. Aerospace & Defense Index ETF (XAD.TO) has a volatility of 7.03%. This indicates that XID.TO experiences smaller price fluctuations and is considered to be less risky than XAD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XID.TOXAD.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.62%

7.03%

-3.41%

Volatility (6M)

Calculated over the trailing 6-month period

12.62%

17.38%

-4.76%

Volatility (1Y)

Calculated over the trailing 1-year period

14.72%

21.39%

-6.67%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.36%

19.92%

-5.56%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.16%

19.92%

-1.76%

XID.TO vs. XAD.TO - Expense Ratio Comparison

XID.TO has a 1.08% expense ratio, which is higher than XAD.TO's 0.43% expense ratio.

Dividends

XID.TO vs. XAD.TO - Dividend Comparison

XID.TO's dividend yield for the trailing twelve months is around 15.91%, more than XAD.TO's 0.28% yield.

PositionTTM20252024202320222021202020192018201720162015
XAD.TO
iShares U.S. Aerospace & Defense Index ETF		0.28%0.35%0.44%0.24%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XID.TO
iShares India Index ETF		15.91%14.32%0.17%0.42%3.45%6.82%0.03%0.43%0.38%0.17%0.35%0.35%

Frequently Asked Questions

XID.TO and XAD.TO have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XAD.TO is cheaper at 0.43% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XAD.TO is cheaper with a 0.43% expense ratio, compared with 1.08% for XID.TO.

XID.TO is categorized as India Equities, while XAD.TO is Aerospace & Defense. XID.TO tracks Morningstar Gbl GR CAD, while XAD.TO tracks Dow Jones U.S. Select Aerospace & Defense Index. Their fees differ too: 1.08% for XID.TO and 0.43% for XAD.TO.

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