XMC.TO vs. PSA.TO
XMC.TO (iShares S&P U.S. Mid-Cap Index ETF) and PSA.TO (Purpose High Interest Savings Fund) are both exchange-traded funds - XMC.TO is a Mid Cap Blend Equities fund tracking the Morningstar US SMID TR CAD, while PSA.TO is a Money Market fund actively managed by Purpose Investments. XMC.TO is passively managed, while PSA.TO is actively managed. Over the past 10 years, XMC.TO returned 11.49%/yr vs 2.27%/yr for PSA.TO. At a 0.03 correlation, their price movements are largely independent. XMC.TO charges 0.16%/yr vs 0.17%/yr for PSA.TO.
Performance
XMC.TO vs. PSA.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XMC.TO achieves a 17.19% return, which is significantly higher than PSA.TO's 1.19% return. Over the past 10 years, XMC.TO has outperformed PSA.TO with an annualized return of 11.49%, while PSA.TO has yielded a comparatively lower 2.27% annualized return.
XMC.TO
- 1D
- -0.61%
- 1M
- 0.02%
- 6M
- 8.97%
- YTD
- 17.19%
- 1Y
- 22.46%
- 3Y*
- 15.22%
- 5Y*
- 11.12%
- 10Y*
- 11.49%
PSA.TO
- 1D
- 0.02%
- 1M
- 0.22%
- 6M
- 1.09%
- YTD
- 1.19%
- 1Y
- 2.33%
- 3Y*
- 3.61%
- 5Y*
- 3.22%
- 10Y*
- 2.27%
XMC.TO vs. PSA.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XMC.TO iShares S&P U.S. Mid-Cap Index ETF | 17.19% | 2.37% | 22.99% | 13.65% | -7.61% | 23.39% | 11.11% | 20.90% | -4.83% | 8.76% |
PSA.TO Purpose High Interest Savings Fund | 1.19% | 2.64% | 4.55% | 5.13% | 2.32% | 0.61% | 0.93% | 2.22% | 1.65% | 1.08% |
Correlation
The correlation between XMC.TO and PSA.TO is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2015 | 0.03 |
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Return for Risk
XMC.TO vs. PSA.TO — Risk / Return Rank
XMC.TO
PSA.TO
XMC.TO vs. PSA.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P U.S. Mid-Cap Index ETF (XMC.TO) and Purpose High Interest Savings Fund (PSA.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.
| XMC.TO | PSA.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.06 | ||
| Sortino ratioReturn per unit of downside risk | -21.40 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 5.80 | -4.54 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 116.89 | -114.17 |
| Martin ratioReturn relative to average drawdown | 9.85 | 356.65 | -346.80 |
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Drawdowns
XMC.TO vs. PSA.TO - Drawdown Comparison
The maximum XMC.TO drawdown since its inception was -36.38%, which is greater than PSA.TO's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for XMC.TO and PSA.TO.
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Drawdown Indicators
| XMC.TO | PSA.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.38% | -0.04% | -36.34% |
Max Drawdown (1Y)Largest decline over 1 year | -8.28% | -0.02% | -8.26% |
Max Drawdown (3Y)Largest decline over 3 years | -22.70% | -0.02% | -22.68% |
Max Drawdown (5Y)Largest decline over 5 years | -22.70% | -0.04% | -22.66% |
Max Drawdown (10Y)Largest decline over 10 years | -36.38% | -0.04% | -36.34% |
Current DrawdownCurrent decline from peak | -3.24% | 0.00% | -3.24% |
Average DrawdownAverage peak-to-trough decline | -5.00% | -0.00% | -5.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.29% | 0.01% | +2.28% |
Volatility
XMC.TO vs. PSA.TO - Volatility Comparison
iShares S&P U.S. Mid-Cap Index ETF (XMC.TO) has a higher volatility of 3.44% compared to Purpose High Interest Savings Fund (PSA.TO) at 0.05%. This indicates that XMC.TO's price experiences larger fluctuations and is considered to be riskier than PSA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XMC.TO | PSA.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.44% | 0.05% | +3.39% |
Volatility (6M)Calculated over the trailing 6-month period | 11.76% | 0.16% | +11.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.81% | 0.25% | +15.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.67% | 0.29% | +17.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.58% | 0.25% | +18.33% |
XMC.TO vs. PSA.TO - Expense Ratio Comparison
XMC.TO has a 0.16% expense ratio, which is lower than PSA.TO's 0.17% 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
XMC.TO vs. PSA.TO - Dividend Comparison
XMC.TO's dividend yield for the trailing twelve months is around 0.91%, less than PSA.TO's 2.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSA.TO Purpose High Interest Savings Fund | 2.30% | 2.61% | 4.46% | 5.05% | 2.26% | 0.59% | 0.94% | 2.18% | 1.66% | 1.07% | 0.99% | 1.07% |
XMC.TO iShares S&P U.S. Mid-Cap Index ETF | 0.91% | 1.10% | 0.94% | 1.17% | 1.27% | 0.99% | 1.07% | 1.43% | 1.57% | 0.98% | 1.06% | 0.54% |
Frequently Asked Questions
XMC.TO and PSA.TO have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XMC.TO is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XMC.TO is cheaper with a 0.16% expense ratio, compared with 0.17% for PSA.TO.
XMC.TO is categorized as Mid Cap Blend Equities, while PSA.TO is Money Market. They also come from different issuers: iShares and Purpose Investments. Their fees differ too: 0.16% for XMC.TO and 0.17% for PSA.TO.
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