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

XMC.TO vs. XEQT.TO

Last updated Jun 4, 2026

XMC.TO (iShares S&P U.S. Mid-Cap Index ETF) and XEQT.TO (iShares Core Equity ETF Portfolio) are both exchange-traded funds - XMC.TO is a Mid Cap Blend Equities fund tracking the Morningstar US SMID TR CAD, while XEQT.TO is a Global Equities fund actively managed by iShares. XMC.TO is passively managed, while XEQT.TO is actively managed. Over the past 5 years, XMC.TO returned 10.91%/yr vs 13.72%/yr for XEQT.TO. A 0.79 correlation means they provide meaningful diversification when combined. XMC.TO charges 0.16%/yr vs 0.20%/yr for XEQT.TO.

Performance

XMC.TO vs. XEQT.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 iShares Core Equity ETF Portfolio (XEQT.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 higher than XEQT.TO's 12.29% 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%

XEQT.TO

1D
-0.56%
1M
5.98%
YTD
12.29%
6M
11.20%
1Y
29.24%
3Y*
21.78%
5Y*
13.72%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022202120202019
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%10.36%
XEQT.TO
iShares Core Equity ETF Portfolio		12.29%19.47%24.36%17.25%-11.01%18.94%11.82%9.89%

Correlation

The correlation between XMC.TO and XEQT.TO is 0.78, 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

0.78

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

0.80

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

0.83

Correlation (All Time)
Calculated using the full available price history since Aug 15, 2019

0.79

The correlation between XMC.TO and XEQT.TO has been stable across timeframes, ranging from 0.78 to 0.83 - a consistent structural relationship.

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

Sectors
XMC.TO
XEQT.TO

Industrials

25.0%
12.1%

Technology

16.6%
22.9%

Financial Services

13.7%
20.3%

Consumer Cyclical

9.5%
7.8%

Healthcare

8.9%
6.6%

Real Estate

7.5%
2.2%

Energy

5.4%
7.2%

Basic Materials

4.8%
7.3%

Consumer Defensive

4.1%
4.4%

Utilities

3.0%
2.8%

Communication Services

1.0%
6.4%

Industrials

XMC.TO
25.0%
XEQT.TO
12.1%

Technology

XMC.TO
16.6%
XEQT.TO
22.9%

Financial Services

XMC.TO
13.7%
XEQT.TO
20.3%

Consumer Cyclical

XMC.TO
9.5%
XEQT.TO
7.8%

Healthcare

XMC.TO
8.9%
XEQT.TO
6.6%

Real Estate

XMC.TO
7.5%
XEQT.TO
2.2%

Energy

XMC.TO
5.4%
XEQT.TO
7.2%

Basic Materials

XMC.TO
4.8%
XEQT.TO
7.3%

Consumer Defensive

XMC.TO
4.1%
XEQT.TO
4.4%

Utilities

XMC.TO
3.0%
XEQT.TO
2.8%

Communication Services

XMC.TO
1.0%
XEQT.TO
6.4%

Compare stocks, funds, or ETFs

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

iShares Core Equity ETF Portfolio

Often compared with XMC.TO:
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Often compared with XEQT.TO:
XEQT.TO vs. VFV.TOXEQT.TO vs. VEQT.TOXEQT.TO vs. XGRO.TOXEQT.TO vs. ZEQT.TOXEQT.TO vs. VGRO.TOXEQT.TO vs. XEI.TOXEQT.TO vs. VOO

Return for Risk

XMC.TO vs. XEQT.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
XEQT.TO
XEQT.TO Risk / Return Rank: 7575
Overall Rank
XEQT.TO Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
XEQT.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
XEQT.TO Omega Ratio Rank: 7676
Omega Ratio Rank
XEQT.TO Calmar Ratio Rank: 7070
Calmar Ratio Rank
XEQT.TO Martin Ratio Rank: 7878
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. XEQT.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 iShares Core Equity ETF Portfolio (XEQT.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.TOXEQT.TODifference
Sharpe ratioReturn per unit of total volatility
1.70
2.53

-0.83

Sortino ratioReturn per unit of downside risk
2.52
3.49

-0.97

Omega ratioGain probability vs. loss probability

1.30

1.47

-0.17

Calmar ratioReturn relative to maximum drawdown

3.22

3.56

-0.34

Martin ratioReturn relative to average drawdown

11.84

15.50

-3.66

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. XEQT.TO - Sharpe Ratio Comparison

The current XMC.TO Sharpe Ratio is 1.70, which is lower than the XEQT.TO Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of XMC.TO and XEQT.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.TOXEQT.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.70

2.53

-0.83

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.62

1.05

-0.43

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.63

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.59

0.95

-0.36

Drawdowns

XMC.TO vs. XEQT.TO - Drawdown Comparison

The maximum XMC.TO drawdown since its inception was -36.38%, which is greater than XEQT.TO's maximum drawdown of -29.74%. Use the drawdown chart below to compare losses from any high point for XMC.TO and XEQT.TO.

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Drawdown Indicators

XMC.TOXEQT.TODifference

Max Drawdown

Largest peak-to-trough decline

-36.38%

-29.74%

-6.64%

Max Drawdown (1Y)

Largest decline over 1 year

-8.28%

-8.25%

-0.03%

Max Drawdown (3Y)

Largest decline over 3 years

-22.70%

-15.08%

-7.62%

Max Drawdown (5Y)

Largest decline over 5 years

-22.70%

-19.56%

-3.14%

Max Drawdown (10Y)

Largest decline over 10 years

-36.38%

—

—

Current Drawdown

Current decline from peak

0.00%

-0.56%

+0.56%

Average Drawdown

Average peak-to-trough decline

-5.05%

-4.11%

-0.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.25%

1.89%

+0.36%

Volatility

XMC.TO vs. XEQT.TO - Volatility Comparison

iShares S&P U.S. Mid-Cap Index ETF (XMC.TO) has a higher volatility of 4.57% compared to iShares Core Equity ETF Portfolio (XEQT.TO) at 3.70%. This indicates that XMC.TO's price experiences larger fluctuations and is considered to be riskier than XEQT.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.TOXEQT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.57%

3.70%

+0.87%

Volatility (6M)

Calculated over the trailing 6-month period

11.57%

9.38%

+2.19%

Volatility (1Y)

Calculated over the trailing 1-year period

15.76%

11.63%

+4.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.62%

13.12%

+4.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.65%

15.56%

+3.09%

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

XMC.TO has a 0.16% expense ratio, which is lower than XEQT.TO's 0.20% 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. XEQT.TO - Dividend Comparison

XMC.TO's dividend yield for the trailing twelve months is around 0.96%, less than XEQT.TO's 1.48% yield.

PositionTTM20252024202320222021202020192018201720162015
XEQT.TO
iShares Core Equity ETF Portfolio		1.48%1.66%2.01%2.07%2.12%1.64%1.66%1.19%0.00%0.00%0.00%0.00%
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 XEQT.TO have a correlation of 0.78, 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 0.20% for XEQT.TO.

XMC.TO is categorized as Mid Cap Blend Equities, while XEQT.TO is Global Equities. Their fees differ too: 0.16% for XMC.TO and 0.20% for XEQT.TO.

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