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XIU.TO vs. BNS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XIU.TO vs. BNS

Last updated Jun 14, 2026

XIU.TO (iShares S&P/TSX 60 Index ETF) is Canada Equities fund tracking the S&P/TSX 60 Index, while BNS (The Bank of Nova Scotia) is a stock. Over the past 10 years, XIU.TO returned 13.04%/yr vs 12.57%/yr for BNS. A 0.60 correlation means they provide meaningful diversification when combined.

Performance

XIU.TO vs. BNS - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX 60 Index ETF (XIU.TO) and The Bank of Nova Scotia (BNS). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, XIU.TO achieves a 11.35% return, which is significantly lower than BNS's 18.88% return. Both investments have delivered pretty close results over the past 10 years, with XIU.TO having a 13.04% annualized return and BNS not far behind at 12.57%.

XIU.TO

1D
0.62%
1M
3.42%
YTD
11.35%
6M
12.04%
1Y
32.96%
3Y*
22.94%
5Y*
14.53%
10Y*
13.04%

BNS

1D
1.76%
1M
10.73%
YTD
18.88%
6M
19.68%
1Y
66.87%
3Y*
29.01%
5Y*
14.83%
10Y*
12.57%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XIU.TO vs. BNS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XIU.TO
iShares S&P/TSX 60 Index ETF		11.35%28.89%20.73%11.85%-6.35%28.06%5.27%21.81%-7.82%9.58%
BNS
The Bank of Nova Scotia		18.88%38.49%27.51%5.95%-23.49%40.55%-0.72%12.64%-11.41%13.58%

Correlation

The correlation between XIU.TO and BNS is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.48

Correlation (3Y)
Calculated over the trailing 3-year period

0.54

Correlation (5Y)
Calculated over the trailing 5-year period

0.60

Correlation (10Y)
Calculated over the trailing 10-year period

0.58

Correlation (All Time)
Calculated using the full available price history since Jul 12, 2006

0.60

The correlation between XIU.TO and BNS shifts across timeframes, from 0.48 (1 year) to 0.60 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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

iShares S&P/TSX 60 Index ETF

The Bank of Nova Scotia

Often compared with XIU.TO:
XIU.TO vs. XIC.TOXIU.TO vs. ZCN.TOXIU.TO vs. XDIV.TOXIU.TO vs. XSP.TOXIU.TO vs. HXT.TOXIU.TO vs. SPYXIU.TO vs. XIT.TO
Often compared with BNS:
BNS vs. TDBNS vs. RYBNS vs. BNS.TOBNS vs. BMOBNS vs. XEQT.TOBNS vs. VDY.TOBNS vs. VFV.TO

Return for Risk

XIU.TO vs. BNS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XIU.TO
XIU.TO Risk / Return Rank: 8989
Overall Rank
XIU.TO Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
XIU.TO Sortino Ratio Rank: 8989
Sortino Ratio Rank
XIU.TO Omega Ratio Rank: 8989
Omega Ratio Rank
XIU.TO Calmar Ratio Rank: 8787
Calmar Ratio Rank
XIU.TO Martin Ratio Rank: 9292
Martin Ratio Rank
BNS
BNS Risk / Return Rank: 9696
Overall Rank
BNS Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
BNS Sortino Ratio Rank: 9898
Sortino Ratio Rank
BNS Omega Ratio Rank: 9797
Omega Ratio Rank
BNS Calmar Ratio Rank: 9292
Calmar Ratio Rank
BNS Martin Ratio Rank: 9595
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.

XIU.TO vs. BNS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX 60 Index ETF (XIU.TO) and The Bank of Nova Scotia (BNS). 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.

XIU.TOBNSDifference
Sharpe ratioReturn per unit of total volatility
2.71
3.81

-1.10

Sortino ratioReturn per unit of downside risk
3.61
5.24

-1.63

Omega ratioGain probability vs. loss probability

1.49

1.68

-0.20

Calmar ratioReturn relative to maximum drawdown

4.26

5.66

-1.40

Martin ratioReturn relative to average drawdown

19.57

21.31

-1.74

XIU.TO vs. BNS - Sharpe Ratio Comparison

The current XIU.TO Sharpe Ratio is 2.71, which is comparable to the BNS Sharpe Ratio of 3.81. The chart below compares the historical Sharpe Ratios of XIU.TO and BNS, 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

XIU.TO vs. BNS - Drawdown Comparison

The maximum XIU.TO drawdown since its inception was -46.98%, smaller than the maximum BNS drawdown of -52.07%. Use the drawdown chart below to compare losses from any high point for XIU.TO and BNS.

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Drawdown Indicators

XIU.TOBNSDifference

Max Drawdown

Largest peak-to-trough decline

-46.98%

-52.07%

+5.09%

Max Drawdown (1Y)

Largest decline over 1 year

-7.65%

-11.73%

+4.08%

Max Drawdown (3Y)

Largest decline over 3 years

-12.36%

-18.17%

+5.81%

Max Drawdown (5Y)

Largest decline over 5 years

-16.36%

-33.49%

+17.13%

Max Drawdown (10Y)

Largest decline over 10 years

-35.46%

-38.48%

+3.02%

Current Drawdown

Current decline from peak

-0.19%

0.00%

-0.19%

Average Drawdown

Average peak-to-trough decline

-6.85%

-8.06%

+1.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.66%

3.11%

-1.45%

Volatility

XIU.TO vs. BNS - Volatility Comparison

The current volatility for iShares S&P/TSX 60 Index ETF (XIU.TO) is 4.06%, while The Bank of Nova Scotia (BNS) has a volatility of 5.10%. This indicates that XIU.TO experiences smaller price fluctuations and is considered to be less risky than BNS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XIU.TOBNSDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.06%

5.10%

-1.04%

Volatility (6M)

Calculated over the trailing 6-month period

9.62%

13.27%

-3.65%

Volatility (1Y)

Calculated over the trailing 1-year period

12.03%

17.42%

-5.39%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.83%

20.23%

-7.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.02%

22.63%

-7.61%

Dividends

XIU.TO vs. BNS - Dividend Comparison

XIU.TO's dividend yield for the trailing twelve months is around 2.18%, less than BNS's 3.79% yield.

PositionTTM20252024202320222021202020192018201720162015
BNS
The Bank of Nova Scotia		3.79%4.17%5.85%8.56%6.39%5.09%4.93%3.53%6.34%4.80%5.24%8.13%
XIU.TO
iShares S&P/TSX 60 Index ETF		2.18%2.39%2.92%3.16%3.02%2.43%3.03%2.87%3.18%2.58%2.65%3.19%

Frequently Asked Questions

XIU.TO and BNS have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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