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

XMC.TO vs. XSMC.TO

Last updated Apr 1, 2026

Compare and contrast key facts about iShares S&P U.S. Mid-Cap Index ETF (XMC.TO) and iShares S&P U.S. Small-Cap Index ETF (XSMC.TO).

XMC.TO and XSMC.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XMC.TO is a passively managed fund by iShares that tracks the performance of the Morningstar US SMID TR CAD. It was launched on Aug 4, 2015. XSMC.TO is a passively managed fund by iShares that tracks the performance of the S&P SmallCap 600 Index. It was launched on Sep 4, 2019. Both XMC.TO and XSMC.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XMC.TO vs. XSMC.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 S&P U.S. Small-Cap Index ETF (XSMC.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)2025202420232022202120202019
XMC.TO
iShares S&P U.S. Mid-Cap Index ETF		3.74%2.37%22.99%13.65%-7.61%23.39%11.11%4.24%
XSMC.TO
iShares S&P U.S. Small-Cap Index ETF		4.91%0.80%17.06%13.24%-10.56%25.12%8.66%3.84%

Returns By Period

In the year-to-date period, XMC.TO achieves a 3.74% return, which is significantly lower than XSMC.TO's 4.91% return.

XMC.TO

1D
2.94%
1M
-3.51%
YTD
3.74%
6M
4.18%
1Y
12.98%
3Y*
12.74%
5Y*
8.44%
10Y*
10.87%

XSMC.TO

1D
2.67%
1M
-2.15%
YTD
4.91%
6M
5.03%
1Y
16.09%
3Y*
11.13%
5Y*
5.95%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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

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

Often compared with XMC.TO:
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Often compared with XSMC.TO:
XSMC.TO vs. XSU.TOXSMC.TO vs. XVLU.TOXSMC.TO vs. XSMH.TOXSMC.TO vs. XUS.TOXSMC.TO vs. XDIV.TOXSMC.TO vs. TTWOXSMC.TO vs. QQQ

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

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

XSMC.TO
iShares S&P U.S. Small-Cap Index ETF
XMC.TO
iShares S&P U.S. Mid-Cap Index ETF

Return for Risk

XMC.TO vs. XSMC.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: 3636
Overall Rank
XMC.TO Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
XMC.TO Sortino Ratio Rank: 3535
Sortino Ratio Rank
XMC.TO Omega Ratio Rank: 3434
Omega Ratio Rank
XMC.TO Calmar Ratio Rank: 3838
Calmar Ratio Rank
XMC.TO Martin Ratio Rank: 3939
Martin Ratio Rank
XSMC.TO
XSMC.TO Risk / Return Rank: 4040
Overall Rank
XSMC.TO Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
XSMC.TO Sortino Ratio Rank: 3939
Sortino Ratio Rank
XSMC.TO Omega Ratio Rank: 3737
Omega Ratio Rank
XSMC.TO Calmar Ratio Rank: 4444
Calmar Ratio Rank
XSMC.TO Martin Ratio Rank: 4343
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. XSMC.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 S&P U.S. Small-Cap Index ETF (XSMC.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.TOXSMC.TODifference

Sharpe ratio

Return per unit of total volatility

0.61

0.68

-0.08

Sortino ratio

Return per unit of downside risk

0.97

1.10

-0.13

Omega ratio

Gain probability vs. loss probability

1.14

1.14

-0.01

Calmar ratio

Return relative to maximum drawdown

0.96

1.13

-0.17

Martin ratio

Return relative to average drawdown

3.53

4.01

-0.48

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. XSMC.TO - Sharpe Ratio Comparison

The current XMC.TO Sharpe Ratio is 0.61, which is comparable to the XSMC.TO Sharpe Ratio of 0.68. The chart below compares the historical Sharpe Ratios of XMC.TO and XSMC.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

XMC.TOXSMC.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.61

0.68

-0.08

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.48

0.30

+0.18

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.59

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.54

0.39

+0.15

Correlation

The correlation between XMC.TO and XSMC.TO is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XMC.TO vs. XSMC.TO - Dividend Comparison

XMC.TO's dividend yield for the trailing twelve months is around 1.06%, less than XSMC.TO's 1.11% yield.

TTM20252024202320222021202020192018201720162015
XMC.TO
iShares S&P U.S. Mid-Cap Index ETF		1.06%1.10%0.94%1.17%1.27%0.99%1.07%1.40%1.56%0.96%1.09%0.51%
XSMC.TO
iShares S&P U.S. Small-Cap Index ETF		1.11%1.16%1.74%1.00%1.09%1.19%0.78%0.60%0.00%0.00%0.00%0.00%

Drawdowns

XMC.TO vs. XSMC.TO - Drawdown Comparison

The maximum XMC.TO drawdown since its inception was -36.38%, roughly equal to the maximum XSMC.TO drawdown of -37.30%. Use the drawdown chart below to compare losses from any high point for XMC.TO and XSMC.TO.

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Drawdown Indicators

XMC.TOXSMC.TODifference

Max Drawdown

Largest peak-to-trough decline

-36.38%

-37.30%

+0.92%

Max Drawdown (1Y)

Largest decline over 1 year

-14.31%

-15.14%

+0.83%

Max Drawdown (5Y)

Largest decline over 5 years

-22.70%

-27.05%

+4.35%

Max Drawdown (10Y)

Largest decline over 10 years

-36.38%

—

—

Current Drawdown

Current decline from peak

-4.68%

-4.07%

-0.61%

Average Drawdown

Average peak-to-trough decline

-5.12%

-8.29%

+3.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.88%

4.27%

-0.39%

Volatility

XMC.TO vs. XSMC.TO - Volatility Comparison

iShares S&P U.S. Mid-Cap Index ETF (XMC.TO) and iShares S&P U.S. Small-Cap Index ETF (XSMC.TO) have volatilities of 6.71% and 6.44%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XMC.TOXSMC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.71%

6.44%

+0.27%

Volatility (6M)

Calculated over the trailing 6-month period

12.30%

13.63%

-1.33%

Volatility (1Y)

Calculated over the trailing 1-year period

21.45%

23.61%

-2.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.60%

19.68%

-2.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.63%

23.51%

-4.88%