XIT.TO vs. OTEX.TO

Last updated Jun 4, 2026

XIT.TO (iShares S&P/TSX Capped Information Technology Index ETF) is Technology Equities fund tracking the Morningstar Gbl GR CAD, while OTEX.TO (Open Text Corporation) is a stock. Over the past 10 years, XIT.TO returned 17.57%/yr vs 0.46%/yr for OTEX.TO. A 0.55 correlation means they provide meaningful diversification when combined.

Performance

XIT.TO vs. OTEX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Capped Information Technology Index ETF (XIT.TO) and Open Text Corporation (OTEX.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XIT.TO achieves a -4.19% return, which is significantly higher than OTEX.TO's -25.67% return. Over the past 10 years, XIT.TO has outperformed OTEX.TO with an annualized return of 17.57%, while OTEX.TO has yielded a comparatively lower 0.46% annualized return.

XIT.TO

• 1D: -3.62%
• 1M: 5.49%
• YTD: -4.19%
• 6M: -5.79%
• 1Y: 9.80%
• 3Y*: 17.90%
• 5Y*: 8.31%
• 10Y*: 17.57%

OTEX.TO

• 1D: -4.14%
• 1M: 4.42%
• YTD: -25.67%
• 6M: -28.23%
• 1Y: -12.37%
• 3Y*: -13.95%
• 5Y*: -8.42%
• 10Y*: 0.46%

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

XIT.TO vs. OTEX.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XIT.TO iShares S&P/TSX Capped Information Technology Index ETF	-4.19%	15.48%	30.02%	55.56%	-35.85%	10.73%	45.91%	60.77%	11.71%	17.06%
OTEX.TO Open Text Corporation	-25.67%	13.89%	-24.57%	42.38%	-31.37%	5.63%	2.77%	30.77%	1.16%	9.35%

Correlation

The correlation between XIT.TO and OTEX.TO is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Mar 26, 2001	0.55

The correlation between XIT.TO and OTEX.TO shifts across timeframes, from 0.55 (all time) to 0.66 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

XIT.TO vs. OTEX.TO — Risk / Return Rank

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

XIT.TO

XIT.TO Risk / Return Rank: 13
XIT.TO Sharpe Ratio Rank: 13
XIT.TO Sortino Ratio Rank: 14
XIT.TO Omega Ratio Rank: 13
XIT.TO Calmar Ratio Rank: 12
XIT.TO Martin Ratio Rank: 12

OTEX.TO

OTEX.TO Risk / Return Rank: 27
OTEX.TO Sharpe Ratio Rank: 25
OTEX.TO Sortino Ratio Rank: 24
OTEX.TO Omega Ratio Rank: 24
OTEX.TO Calmar Ratio Rank: 32
OTEX.TO Martin Ratio Rank: 32

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.

XIT.TO vs. OTEX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Capped Information Technology Index ETF (XIT.TO) and Open Text Corporation (OTEX.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.

	XIT.TO	OTEX.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.31	-0.35	+0.67
Sortino ratio: Return per unit of downside risk	0.64	-0.29	+0.92
Omega ratio: Gain probability vs. loss probability	1.08	0.96	+0.11
Calmar ratio: Return relative to maximum drawdown	0.31	-0.26	+0.57
Martin ratio: Return relative to average drawdown	0.62	-0.48	+1.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XIT.TO vs. OTEX.TO - Sharpe Ratio Comparison

The current XIT.TO Sharpe Ratio is 0.31, which is higher than the OTEX.TO Sharpe Ratio of -0.35. The chart below compares the historical Sharpe Ratios of XIT.TO and OTEX.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

	XIT.TO	OTEX.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.31	-0.35	+0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	-0.29	+0.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.02	+0.64
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.24	+0.06

Drawdowns

XIT.TO vs. OTEX.TO - Drawdown Comparison

The maximum XIT.TO drawdown since its inception was -81.18%, which is greater than OTEX.TO's maximum drawdown of -72.08%. Use the drawdown chart below to compare losses from any high point for XIT.TO and OTEX.TO.

Drawdown Indicators

	XIT.TO	OTEX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-81.18%	-72.08%	-9.10%
Max Drawdown (1Y) Largest decline over 1 year	-31.93%	-47.69%	+15.76%
Max Drawdown (3Y) Largest decline over 3 years	-31.93%	-48.12%	+16.19%
Max Drawdown (5Y) Largest decline over 5 years	-54.15%	-52.98%	-1.17%
Max Drawdown (10Y) Largest decline over 10 years	-54.15%	-52.98%	-1.17%
Current Drawdown Current decline from peak	-14.47%	-45.58%	+31.11%
Average Drawdown Average peak-to-trough decline	-26.86%	-24.88%	-1.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.74%	25.67%	-9.93%

Volatility

XIT.TO vs. OTEX.TO - Volatility Comparison

iShares S&P/TSX Capped Information Technology Index ETF (XIT.TO) and Open Text Corporation (OTEX.TO) have volatilities of 11.83% and 12.44%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XIT.TO	OTEX.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.83%	12.44%	-0.61%
Volatility (6M) Calculated over the trailing 6-month period	24.39%	27.40%	-3.01%
Volatility (1Y) Calculated over the trailing 1-year period	31.36%	35.10%	-3.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.37%	29.54%	-0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.71%	27.13%	-0.42%

Dividends

XIT.TO vs. OTEX.TO - Dividend Comparison

XIT.TO has not paid dividends to shareholders, while OTEX.TO's dividend yield for the trailing twelve months is around 4.56%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OTEX.TO Open Text Corporation	4.56%	3.35%	3.45%	2.40%	3.00%	1.76%	1.66%	1.57%	1.71%	1.30%	1.04%	1.51%
XIT.TO iShares S&P/TSX Capped Information Technology Index ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.00%	0.29%	0.00%	0.13%	0.14%	0.08%

Frequently Asked Questions

Can I hold both XIT.TO and OTEX.TO in my portfolio?

XIT.TO and OTEX.TO have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.