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

XIU.TO vs. XAW.TO

Last updated Jun 4, 2026

XIU.TO (iShares S&P/TSX 60 Index ETF) and XAW.TO (iShares Core MSCI All Country World ex Canada Index ETF) are both exchange-traded funds - XIU.TO is a Canada Equities fund tracking the S&P/TSX 60 Index, while XAW.TO is a Global Equities fund tracking the Morningstar Gbl GR CAD. Both are passively managed. Over the past 10 years, XIU.TO returned 12.62%/yr vs 13.22%/yr for XAW.TO. A 0.69 correlation means they provide meaningful diversification when combined. XIU.TO charges 0.18%/yr vs 0.22%/yr for XAW.TO.

Performance

XIU.TO vs. XAW.TO - 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 iShares Core MSCI All Country World ex Canada Index ETF (XAW.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, XIU.TO achieves a 10.14% return, which is significantly lower than XAW.TO's 13.70% return. Both investments have delivered pretty close results over the past 10 years, with XIU.TO having a 12.62% annualized return and XAW.TO not far ahead at 13.22%.

XIU.TO

1D
-0.87%
1M
3.47%
YTD
10.14%
6M
12.10%
1Y
31.65%
3Y*
22.48%
5Y*
14.37%
10Y*
12.62%

XAW.TO

1D
-0.37%
1M
7.13%
YTD
13.70%
6M
12.70%
1Y
30.51%
3Y*
21.73%
5Y*
13.96%
10Y*
13.22%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XIU.TO vs. XAW.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XIU.TO
iShares S&P/TSX 60 Index ETF		10.14%28.89%20.73%11.85%-6.35%28.06%5.27%21.81%-7.82%9.58%
XAW.TO
iShares Core MSCI All Country World ex Canada Index ETF		13.70%15.87%26.31%18.45%-11.84%18.38%12.37%19.82%-2.28%16.10%

Correlation

The correlation between XIU.TO and XAW.TO is 0.66, 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

0.66

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

0.69

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

0.71

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

0.71

Correlation (All Time)
Calculated using the full available price history since Feb 18, 2015

0.69

The correlation between XIU.TO and XAW.TO has been stable across timeframes, ranging from 0.66 to 0.71 - a consistent structural relationship.

XIU.TO vs. XAW.TO - Sectors Allocation Comparison

Sectors
XIU.TO
XAW.TO

Financial Services

39.4%
13.7%

Energy

18.6%
3.3%

Basic Materials

13.3%
2.8%

Technology

8.8%
32.6%

Industrials

7.9%
9.1%

Consumer Cyclical

4.1%
8.8%

Consumer Defensive

3.2%
4.6%

Utilities

2.6%
2.2%

Communication Services

2.0%
8.7%

Real Estate

0.2%
1.4%

Healthcare

-

7.8%

Financial Services

XIU.TO
39.4%
XAW.TO
13.7%

Energy

XIU.TO
18.6%
XAW.TO
3.3%

Basic Materials

XIU.TO
13.3%
XAW.TO
2.8%

Technology

XIU.TO
8.8%
XAW.TO
32.6%

Industrials

XIU.TO
7.9%
XAW.TO
9.1%

Consumer Cyclical

XIU.TO
4.1%
XAW.TO
8.8%

Consumer Defensive

XIU.TO
3.2%
XAW.TO
4.6%

Utilities

XIU.TO
2.6%
XAW.TO
2.2%

Communication Services

XIU.TO
2.0%
XAW.TO
8.7%

Real Estate

XIU.TO
0.2%
XAW.TO
1.4%

Healthcare

XIU.TO

-

XAW.TO
7.8%

Compare stocks, funds, or ETFs

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iShares S&P/TSX 60 Index ETF

iShares Core MSCI All Country World ex Canada Index ETF

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 XAW.TO:
XAW.TO vs. XEQT.TOXAW.TO vs. VXC.TOXAW.TO vs. VEQT.TOXAW.TO vs. XUU.TOXAW.TO vs. XIC.TOXAW.TO vs. XGRO.TOXAW.TO vs. VT

Return for Risk

XIU.TO vs. XAW.TO — 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: 8282
Overall Rank
XIU.TO Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
XIU.TO Sortino Ratio Rank: 7979
Sortino Ratio Rank
XIU.TO Omega Ratio Rank: 8080
Omega Ratio Rank
XIU.TO Calmar Ratio Rank: 7979
Calmar Ratio Rank
XIU.TO Martin Ratio Rank: 8787
Martin Ratio Rank
XAW.TO
XAW.TO Risk / Return Rank: 7676
Overall Rank
XAW.TO Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
XAW.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
XAW.TO Omega Ratio Rank: 7878
Omega Ratio Rank
XAW.TO Calmar Ratio Rank: 7474
Calmar Ratio Rank
XAW.TO Martin Ratio Rank: 7777
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. XAW.TO - 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 iShares Core MSCI All Country World ex Canada Index ETF (XAW.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.

XIU.TOXAW.TODifference
Sharpe ratioReturn per unit of total volatility
2.71
2.50

+0.21

Sortino ratioReturn per unit of downside risk
3.64
3.49

+0.15

Omega ratioGain probability vs. loss probability

1.49

1.48

+0.01

Calmar ratioReturn relative to maximum drawdown

4.16

3.76

+0.40

Martin ratioReturn relative to average drawdown

19.30

15.15

+4.15

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XIU.TO vs. XAW.TO - Sharpe Ratio Comparison

The current XIU.TO Sharpe Ratio is 2.71, which is comparable to the XAW.TO Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of XIU.TO and XAW.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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Sharpe Ratios by Period

XIU.TOXAW.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.71

2.50

+0.21

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.13

1.04

+0.10

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.85

0.88

-0.03

Sharpe Ratio (All Time)

Calculated using the full available price history

0.51

0.78

-0.28

Drawdowns

XIU.TO vs. XAW.TO - Drawdown Comparison

The maximum XIU.TO drawdown since its inception was -52.31%, which is greater than XAW.TO's maximum drawdown of -27.32%. Use the drawdown chart below to compare losses from any high point for XIU.TO and XAW.TO.

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Drawdown Indicators

XIU.TOXAW.TODifference

Max Drawdown

Largest peak-to-trough decline

-52.31%

-27.32%

-24.99%

Max Drawdown (1Y)

Largest decline over 1 year

-7.65%

-8.16%

+0.51%

Max Drawdown (3Y)

Largest decline over 3 years

-12.36%

-16.66%

+4.30%

Max Drawdown (5Y)

Largest decline over 5 years

-16.36%

-21.02%

+4.66%

Max Drawdown (10Y)

Largest decline over 10 years

-35.46%

-27.32%

-8.14%

Current Drawdown

Current decline from peak

-0.87%

-0.37%

-0.50%

Average Drawdown

Average peak-to-trough decline

-11.63%

-3.91%

-7.72%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.64%

2.02%

-0.38%

Volatility

XIU.TO vs. XAW.TO - Volatility Comparison

The current volatility for iShares S&P/TSX 60 Index ETF (XIU.TO) is 3.28%, while iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO) has a volatility of 4.21%. This indicates that XIU.TO experiences smaller price fluctuations and is considered to be less risky than XAW.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XIU.TOXAW.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.28%

4.21%

-0.93%

Volatility (6M)

Calculated over the trailing 6-month period

9.32%

9.85%

-0.53%

Volatility (1Y)

Calculated over the trailing 1-year period

11.73%

12.25%

-0.52%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.78%

13.56%

-0.78%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.01%

15.12%

-0.11%

XIU.TO vs. XAW.TO - Expense Ratio Comparison

XIU.TO has a 0.18% expense ratio, which is lower than XAW.TO's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XIU.TO vs. XAW.TO - Dividend Comparison

XIU.TO's dividend yield for the trailing twelve months is around 2.20%, more than XAW.TO's 1.17% yield.

PositionTTM20252024202320222021202020192018201720162015
XAW.TO
iShares Core MSCI All Country World ex Canada Index ETF		1.17%1.33%1.61%1.71%1.79%1.77%1.49%2.02%2.29%1.92%1.80%1.83%
XIU.TO
iShares S&P/TSX 60 Index ETF		2.20%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 XAW.TO have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XIU.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XIU.TO is cheaper with a 0.18% expense ratio, compared with 0.22% for XAW.TO.

XIU.TO is categorized as Canada Equities, while XAW.TO is Global Equities. XIU.TO tracks S&P/TSX 60 Index, while XAW.TO tracks Morningstar Gbl GR CAD. Their fees differ too: 0.18% for XIU.TO and 0.22% for XAW.TO.

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