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

XMC.TO vs. XIC.TO

Last updated Jun 4, 2026

XMC.TO (iShares S&P U.S. Mid-Cap Index ETF) and XIC.TO (iShares Core S&P/TSX Capped Composite Index ETF) are both exchange-traded funds - XMC.TO is a Mid Cap Blend Equities fund tracking the Morningstar US SMID TR CAD, while XIC.TO is a Canada Equities fund tracking the S&P/TSX Capped Composite Index. Both are passively managed. Over the past 10 years, XMC.TO returned 11.71%/yr vs 12.48%/yr for XIC.TO. A 0.64 correlation means they provide meaningful diversification when combined. XMC.TO charges 0.16%/yr vs 0.06%/yr for XIC.TO.

Performance

XMC.TO vs. XIC.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 S&P/TSX Capped Composite Index ETF (XIC.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 XIC.TO's 10.75% return. Over the past 10 years, XMC.TO has underperformed XIC.TO with an annualized return of 11.71%, while XIC.TO has yielded a comparatively higher 12.48% 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%

XIC.TO

1D
-1.05%
1M
3.59%
YTD
10.75%
6M
12.90%
1Y
34.79%
3Y*
23.62%
5Y*
14.60%
10Y*
12.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XMC.TO vs. XIC.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%
XIC.TO
iShares Core S&P/TSX Capped Composite Index ETF		10.75%31.51%21.48%11.73%-5.82%23.42%5.61%22.76%-8.72%8.99%

Correlation

The correlation between XMC.TO and XIC.TO is 0.63, 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

0.63

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

0.68

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

0.70

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

0.67

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

0.64

The correlation between XMC.TO and XIC.TO has been stable across timeframes, ranging from 0.63 to 0.70 - a consistent structural relationship.

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

Sectors
XMC.TO
XIC.TO

Industrials

25.0%
10.0%

Technology

16.6%
6.7%

Financial Services

13.7%
34.0%

Consumer Cyclical

9.5%
3.7%

Healthcare

8.9%
0.1%

Real Estate

7.5%
1.5%

Energy

5.4%
18.1%

Basic Materials

4.8%
17.2%

Consumer Defensive

4.1%
2.9%

Utilities

3.0%
2.9%

Communication Services

1.0%
1.8%

Industrials

XMC.TO
25.0%
XIC.TO
10.0%

Technology

XMC.TO
16.6%
XIC.TO
6.7%

Financial Services

XMC.TO
13.7%
XIC.TO
34.0%

Consumer Cyclical

XMC.TO
9.5%
XIC.TO
3.7%

Healthcare

XMC.TO
8.9%
XIC.TO
0.1%

Real Estate

XMC.TO
7.5%
XIC.TO
1.5%

Energy

XMC.TO
5.4%
XIC.TO
18.1%

Basic Materials

XMC.TO
4.8%
XIC.TO
17.2%

Consumer Defensive

XMC.TO
4.1%
XIC.TO
2.9%

Utilities

XMC.TO
3.0%
XIC.TO
2.9%

Communication Services

XMC.TO
1.0%
XIC.TO
1.8%

Compare stocks, funds, or ETFs

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

iShares Core S&P/TSX Capped Composite Index ETF

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Often compared with XIC.TO:
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Return for Risk

XMC.TO vs. XIC.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
XIC.TO
XIC.TO Risk / Return Rank: 8080
Overall Rank
XIC.TO Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
XIC.TO Sortino Ratio Rank: 7878
Sortino Ratio Rank
XIC.TO Omega Ratio Rank: 8181
Omega Ratio Rank
XIC.TO Calmar Ratio Rank: 7373
Calmar Ratio Rank
XIC.TO Martin Ratio Rank: 8383
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. XIC.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 S&P/TSX Capped Composite Index ETF (XIC.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.TOXIC.TODifference
Sharpe ratioReturn per unit of total volatility
1.70
2.76

-1.06

Sortino ratioReturn per unit of downside risk
2.52
3.57

-1.05

Omega ratioGain probability vs. loss probability

1.30

1.50

-0.20

Calmar ratioReturn relative to maximum drawdown

3.22

3.76

-0.54

Martin ratioReturn relative to average drawdown

11.84

17.44

-5.60

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. XIC.TO - Sharpe Ratio Comparison

The current XMC.TO Sharpe Ratio is 1.70, which is lower than the XIC.TO Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of XMC.TO and XIC.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.TOXIC.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.70

2.76

-1.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.62

1.12

-0.50

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.63

0.84

-0.21

Sharpe Ratio (All Time)

Calculated using the full available price history

0.59

0.54

+0.05

Drawdowns

XMC.TO vs. XIC.TO - Drawdown Comparison

The maximum XMC.TO drawdown since its inception was -36.38%, smaller than the maximum XIC.TO drawdown of -48.21%. Use the drawdown chart below to compare losses from any high point for XMC.TO and XIC.TO.

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Drawdown Indicators

XMC.TOXIC.TODifference

Max Drawdown

Largest peak-to-trough decline

-36.38%

-48.21%

+11.83%

Max Drawdown (1Y)

Largest decline over 1 year

-8.28%

-9.29%

+1.01%

Max Drawdown (3Y)

Largest decline over 3 years

-22.70%

-12.27%

-10.43%

Max Drawdown (5Y)

Largest decline over 5 years

-22.70%

-16.24%

-6.46%

Max Drawdown (10Y)

Largest decline over 10 years

-36.38%

-37.21%

+0.83%

Current Drawdown

Current decline from peak

0.00%

-1.05%

+1.05%

Average Drawdown

Average peak-to-trough decline

-5.05%

-7.04%

+1.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.25%

2.00%

+0.25%

Volatility

XMC.TO vs. XIC.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 S&P/TSX Capped Composite Index ETF (XIC.TO) at 3.48%. This indicates that XMC.TO's price experiences larger fluctuations and is considered to be riskier than XIC.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.TOXIC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.57%

3.48%

+1.09%

Volatility (6M)

Calculated over the trailing 6-month period

11.57%

10.33%

+1.24%

Volatility (1Y)

Calculated over the trailing 1-year period

15.76%

12.67%

+3.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.62%

13.13%

+4.49%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.65%

14.96%

+3.69%

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

XMC.TO has a 0.16% expense ratio, which is higher than XIC.TO's 0.06% 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. XIC.TO - Dividend Comparison

XMC.TO's dividend yield for the trailing twelve months is around 0.96%, less than XIC.TO's 2.02% yield.

PositionTTM20252024202320222021202020192018201720162015
XIC.TO
iShares Core S&P/TSX Capped Composite Index ETF		2.02%2.23%2.64%2.95%3.10%2.44%3.03%3.01%3.19%2.49%2.72%3.21%
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 XIC.TO have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XIC.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XIC.TO is cheaper with a 0.06% expense ratio, compared with 0.16% for XMC.TO.

XMC.TO is categorized as Mid Cap Blend Equities, while XIC.TO is Canada Equities. XMC.TO tracks Morningstar US SMID TR CAD, while XIC.TO tracks S&P/TSX Capped Composite Index. Their fees differ too: 0.16% for XMC.TO and 0.06% for XIC.TO.

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