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XMC.TO vs. VDY.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMC.TO vs. VDY.TO

Last updated Jun 4, 2026

XMC.TO (iShares S&P U.S. Mid-Cap Index ETF) and VDY.TO (Vanguard FTSE Canadian High Dividend Yield Index ETF) are both exchange-traded funds - XMC.TO is a Mid Cap Blend Equities fund tracking the Morningstar US SMID TR CAD, while VDY.TO is a Dividend fund tracking the FTSE Canada High Dividend Yield Index. Both are passively managed. Over the past 10 years, XMC.TO returned 11.71%/yr vs 14.02%/yr for VDY.TO. A 0.58 correlation means they provide meaningful diversification when combined. XMC.TO charges 0.16%/yr vs 0.22%/yr for VDY.TO.

Performance

XMC.TO vs. VDY.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P U.S. Mid-Cap Index ETF (XMC.TO) and Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.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, XMC.TO achieves a 15.43% return, which is significantly lower than VDY.TO's 20.59% return. Over the past 10 years, XMC.TO has underperformed VDY.TO with an annualized return of 11.71%, while VDY.TO has yielded a comparatively higher 14.02% annualized return.

XMC.TO

1D
0.48%
1M
6.14%
YTD
15.43%
6M
13.83%
1Y
26.54%
3Y*
17.13%
5Y*
10.91%
10Y*
11.71%

VDY.TO

1D
-0.07%
1M
4.52%
YTD
20.59%
6M
22.32%
1Y
46.18%
3Y*
26.00%
5Y*
17.21%
10Y*
14.02%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XMC.TO vs. VDY.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XMC.TO
iShares S&P U.S. Mid-Cap Index ETF		15.43%2.37%22.99%13.65%-7.61%23.39%11.11%20.87%-4.83%8.74%
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index ETF		20.59%29.20%20.71%8.40%-0.23%36.78%-1.37%21.43%-10.09%8.75%

Correlation

The correlation between XMC.TO and VDY.TO is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.49

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

0.58

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

0.59

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

0.60

Correlation (All Time)
Calculated using the full available price history since Aug 11, 2015

0.58

The correlation between XMC.TO and VDY.TO shifts across timeframes, from 0.49 (1 year) to 0.60 (10 years), reflecting how their relationship changes across market environments.

XMC.TO vs. VDY.TO - Sectors Allocation Comparison

Sectors
XMC.TO
VDY.TO

Industrials

25.0%
0.2%

Technology

16.6%
0.4%

Financial Services

13.7%
56.0%

Consumer Cyclical

9.5%
3.0%

Healthcare

8.9%
0.1%

Real Estate

7.5%

-

Energy

5.4%
30.8%

Basic Materials

4.8%
2.2%

Consumer Defensive

4.1%
0.4%

Utilities

3.0%
4.1%

Communication Services

1.0%
2.8%

Industrials

XMC.TO
25.0%
VDY.TO
0.2%

Technology

XMC.TO
16.6%
VDY.TO
0.4%

Financial Services

XMC.TO
13.7%
VDY.TO
56.0%

Consumer Cyclical

XMC.TO
9.5%
VDY.TO
3.0%

Healthcare

XMC.TO
8.9%
VDY.TO
0.1%

Real Estate

XMC.TO
7.5%
VDY.TO

-

Energy

XMC.TO
5.4%
VDY.TO
30.8%

Basic Materials

XMC.TO
4.8%
VDY.TO
2.2%

Consumer Defensive

XMC.TO
4.1%
VDY.TO
0.4%

Utilities

XMC.TO
3.0%
VDY.TO
4.1%

Communication Services

XMC.TO
1.0%
VDY.TO
2.8%

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 U.S. Mid-Cap Index ETF

Vanguard FTSE Canadian High Dividend Yield Index ETF

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Often compared with VDY.TO:
VDY.TO vs. XEI.TOVDY.TO vs. XDIV.TOVDY.TO vs. VCN.TOVDY.TO vs. SCHDVDY.TO vs. XIC.TOVDY.TO vs. VCE.TOVDY.TO vs. ZDV.TO

Return for Risk

XMC.TO vs. VDY.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XMC.TO
XMC.TO Risk / Return Rank: 5656
Overall Rank
XMC.TO Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
XMC.TO Sortino Ratio Rank: 5252
Sortino Ratio Rank
XMC.TO Omega Ratio Rank: 4747
Omega Ratio Rank
XMC.TO Calmar Ratio Rank: 6565
Calmar Ratio Rank
XMC.TO Martin Ratio Rank: 6565
Martin Ratio Rank
VDY.TO
VDY.TO Risk / Return Rank: 9898
Overall Rank
VDY.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
VDY.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
VDY.TO Omega Ratio Rank: 9898
Omega Ratio Rank
VDY.TO Calmar Ratio Rank: 9898
Calmar Ratio Rank
VDY.TO Martin Ratio Rank: 9898
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.

XMC.TO vs. VDY.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 Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.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.

XMC.TOVDY.TODifference
Sharpe ratioReturn per unit of total volatility
1.70
5.65

-3.96

Sortino ratioReturn per unit of downside risk
2.52
8.14

-5.62

Omega ratioGain probability vs. loss probability

1.30

2.14

-0.84

Calmar ratioReturn relative to maximum drawdown

3.22

14.88

-11.66

Martin ratioReturn relative to average drawdown

11.84

60.75

-48.91

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

XMC.TO vs. VDY.TO - Sharpe Ratio Comparison

The current XMC.TO Sharpe Ratio is 1.70, which is lower than the VDY.TO Sharpe Ratio of 5.65. The chart below compares the historical Sharpe Ratios of XMC.TO and VDY.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

XMC.TOVDY.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.70

5.65

-3.96

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.62

1.50

-0.87

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.63

0.88

-0.25

Sharpe Ratio (All Time)

Calculated using the full available price history

0.59

0.84

-0.26

Drawdowns

XMC.TO vs. VDY.TO - Drawdown Comparison

The maximum XMC.TO drawdown since its inception was -36.38%, smaller than the maximum VDY.TO drawdown of -39.21%. Use the drawdown chart below to compare losses from any high point for XMC.TO and VDY.TO.

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Drawdown Indicators

XMC.TOVDY.TODifference

Max Drawdown

Largest peak-to-trough decline

-36.38%

-39.21%

+2.83%

Max Drawdown (1Y)

Largest decline over 1 year

-8.28%

-3.12%

-5.16%

Max Drawdown (3Y)

Largest decline over 3 years

-22.70%

-10.87%

-11.83%

Max Drawdown (5Y)

Largest decline over 5 years

-22.70%

-16.18%

-6.52%

Max Drawdown (10Y)

Largest decline over 10 years

-36.38%

-39.21%

+2.83%

Current Drawdown

Current decline from peak

0.00%

-0.77%

+0.77%

Average Drawdown

Average peak-to-trough decline

-5.05%

-4.61%

-0.44%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.25%

0.76%

+1.49%

Volatility

XMC.TO vs. VDY.TO - Volatility Comparison

iShares S&P U.S. Mid-Cap Index ETF (XMC.TO) has a higher volatility of 4.57% compared to Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) at 3.31%. This indicates that XMC.TO's price experiences larger fluctuations and is considered to be riskier than VDY.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.TOVDY.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.57%

3.31%

+1.26%

Volatility (6M)

Calculated over the trailing 6-month period

11.57%

6.87%

+4.70%

Volatility (1Y)

Calculated over the trailing 1-year period

15.76%

8.21%

+7.55%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.62%

11.56%

+6.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.65%

15.96%

+2.69%

XMC.TO vs. VDY.TO - Expense Ratio Comparison

XMC.TO has a 0.16% expense ratio, which is lower than VDY.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

XMC.TO vs. VDY.TO - Dividend Comparison

XMC.TO's dividend yield for the trailing twelve months is around 0.96%, less than VDY.TO's 2.90% yield.

PositionTTM20252024202320222021202020192018201720162015
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index ETF		2.90%3.59%4.40%4.64%4.42%3.58%4.59%4.25%4.43%3.82%3.25%4.11%
XMC.TO
iShares S&P U.S. Mid-Cap Index ETF		0.96%1.10%0.94%1.17%1.27%0.99%1.07%1.40%1.56%0.96%1.09%0.51%

Frequently Asked Questions

XMC.TO and VDY.TO have a correlation of 0.49, 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 0.22% for VDY.TO.

XMC.TO is categorized as Mid Cap Blend Equities, while VDY.TO is Dividend. XMC.TO tracks Morningstar US SMID TR CAD, while VDY.TO tracks FTSE Canada High Dividend Yield Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.16% for XMC.TO and 0.22% for VDY.TO.

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