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

XMC.TO vs. VOO

Last updated Jun 4, 2026

XMC.TO (iShares S&P U.S. Mid-Cap Index ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - XMC.TO is a Mid Cap Blend Equities fund tracking the Morningstar US SMID TR CAD, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, XMC.TO returned 11.71%/yr vs 16.44%/yr for VOO. A 0.69 correlation means they provide meaningful diversification when combined. XMC.TO charges 0.16%/yr vs 0.03%/yr for VOO.

Performance

XMC.TO vs. VOO - 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 S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, XMC.TO achieves a 15.43% return, which is significantly higher than VOO's 12.66% return. Over the past 10 years, XMC.TO has underperformed VOO with an annualized return of 11.71%, while VOO has yielded a comparatively higher 16.44% 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%

VOO

1D
0.00%
1M
7.45%
YTD
12.66%
6M
10.84%
1Y
30.08%
3Y*
23.99%
5Y*
17.22%
10Y*
16.44%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XMC.TO vs. VOO - 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%
VOO
Vanguard S&P 500 ETF		12.32%12.42%35.71%23.54%-12.34%27.63%16.32%24.91%3.60%14.02%

Correlation

The correlation between XMC.TO and VOO 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

0.68

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

0.73

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

0.71

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

0.69

The correlation between XMC.TO and VOO has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.

XMC.TO vs. VOO - Sectors Allocation Comparison

Sectors
XMC.TO
VOO

Industrials

25.0%
8.3%

Technology

16.6%
35.7%

Financial Services

13.7%
11.6%

Consumer Cyclical

9.5%
10.2%

Healthcare

8.9%
8.5%

Real Estate

7.5%
1.9%

Energy

5.4%
3.5%

Basic Materials

4.8%
1.8%

Consumer Defensive

4.1%
4.9%

Utilities

3.0%
2.4%

Communication Services

1.0%
11.3%

Industrials

XMC.TO
25.0%
VOO
8.3%

Technology

XMC.TO
16.6%
VOO
35.7%

Financial Services

XMC.TO
13.7%
VOO
11.6%

Consumer Cyclical

XMC.TO
9.5%
VOO
10.2%

Healthcare

XMC.TO
8.9%
VOO
8.5%

Real Estate

XMC.TO
7.5%
VOO
1.9%

Energy

XMC.TO
5.4%
VOO
3.5%

Basic Materials

XMC.TO
4.8%
VOO
1.8%

Consumer Defensive

XMC.TO
4.1%
VOO
4.9%

Utilities

XMC.TO
3.0%
VOO
2.4%

Communication Services

XMC.TO
1.0%
VOO
11.3%

Compare stocks, funds, or ETFs

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iShares S&P U.S. Mid-Cap Index ETF

Vanguard S&P 500 ETF

Often compared with XMC.TO:
XMC.TO vs. XSMC.TOXMC.TO vs. ZEB.TOXMC.TO vs. XSP.TOXMC.TO vs. XSMOXMC.TO vs. IMCGXMC.TO vs. FMDEXMC.TO vs. VOE
Often compared with VOO:
VOO vs. VTIVOO vs. QQQVOO vs. SCHDVOO vs. VTVOO vs. SPYVOO vs. FXAIXVOO vs. IVV

Return for Risk

XMC.TO vs. VOO — 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
VOO
VOO Risk / Return Rank: 7070
Overall Rank
VOO Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
VOO Sortino Ratio Rank: 7070
Sortino Ratio Rank
VOO Omega Ratio Rank: 7070
Omega Ratio Rank
VOO Calmar Ratio Rank: 6262
Calmar Ratio Rank
VOO Martin Ratio Rank: 7575
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. VOO - 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 S&P 500 ETF (VOO). 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.TOVOODifference
Sharpe ratioReturn per unit of total volatility
1.70
2.60

-0.90

Sortino ratioReturn per unit of downside risk
2.52
3.49

-0.97

Omega ratioGain probability vs. loss probability

1.30

1.50

-0.20

Calmar ratioReturn relative to maximum drawdown

3.22

3.51

-0.29

Martin ratioReturn relative to average drawdown

11.84

13.34

-1.50

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. VOO - Sharpe Ratio Comparison

The current XMC.TO Sharpe Ratio is 1.70, which is lower than the VOO Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of XMC.TO and VOO, 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.TOVOODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.70

2.60

-0.90

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.62

1.16

-0.54

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.63

1.01

-0.38

Sharpe Ratio (All Time)

Calculated using the full available price history

0.59

1.15

-0.57

Drawdowns

XMC.TO vs. VOO - Drawdown Comparison

The maximum XMC.TO drawdown since its inception was -36.38%, which is greater than VOO's maximum drawdown of -27.65%. Use the drawdown chart below to compare losses from any high point for XMC.TO and VOO.

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Drawdown Indicators

XMC.TOVOODifference

Max Drawdown

Largest peak-to-trough decline

-36.38%

-27.65%

-8.73%

Max Drawdown (1Y)

Largest decline over 1 year

-8.28%

-8.62%

+0.34%

Max Drawdown (3Y)

Largest decline over 3 years

-22.70%

-18.93%

-3.77%

Max Drawdown (5Y)

Largest decline over 5 years

-22.70%

-22.08%

-0.62%

Max Drawdown (10Y)

Largest decline over 10 years

-36.38%

-27.65%

-8.73%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-5.05%

-3.24%

-1.81%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.25%

2.26%

-0.01%

Volatility

XMC.TO vs. VOO - Volatility Comparison

iShares S&P U.S. Mid-Cap Index ETF (XMC.TO) has a higher volatility of 4.57% compared to Vanguard S&P 500 ETF (VOO) at 2.60%. This indicates that XMC.TO's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XMC.TOVOODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.57%

2.60%

+1.97%

Volatility (6M)

Calculated over the trailing 6-month period

11.57%

8.79%

+2.78%

Volatility (1Y)

Calculated over the trailing 1-year period

15.76%

11.64%

+4.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.62%

14.91%

+2.71%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.65%

16.28%

+2.37%

XMC.TO vs. VOO - Expense Ratio Comparison

XMC.TO has a 0.16% expense ratio, which is higher than VOO's 0.03% expense ratio. However, 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. VOO - Dividend Comparison

XMC.TO's dividend yield for the trailing twelve months is around 0.96%, less than VOO's 1.03% yield.

PositionTTM20252024202320222021202020192018201720162015
VOO
Vanguard S&P 500 ETF		1.03%1.13%1.24%1.46%1.69%1.25%1.54%1.88%2.06%1.78%2.02%2.10%
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 VOO 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, VOO is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VOO is cheaper with a 0.03% expense ratio, compared with 0.16% for XMC.TO.

XMC.TO is categorized as Mid Cap Blend Equities, while VOO is S&P 500. XMC.TO tracks Morningstar US SMID TR CAD, while VOO tracks S&P 500 Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.16% for XMC.TO and 0.03% for VOO.

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