XMD.TO vs. XDIV.TO
XMD.TO (iShares S&P/TSX Completion Index ETF) and XDIV.TO (iShares Core MSCI Canadian Quality Dividend Index ETF) are both exchange-traded funds - XMD.TO is a Canada Equities fund tracking the Morningstar Canada Sml GR CAD, while XDIV.TO is a Dividend fund tracking the MSCI Canada High Dividend Yield 10% Security Capped Index. Both are passively managed. Over the past 5 years, XMD.TO returned 16.03%/yr vs 16.42%/yr for XDIV.TO. A 0.60 correlation means they provide meaningful diversification when combined. XMD.TO charges 0.60%/yr vs 0.11%/yr for XDIV.TO.
Performance
XMD.TO vs. XDIV.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XMD.TO achieves a 12.81% return, which is significantly lower than XDIV.TO's 19.17% return.
XMD.TO
- 1D
- -1.61%
- 1M
- 4.02%
- YTD
- 12.81%
- 6M
- 15.57%
- 1Y
- 46.80%
- 3Y*
- 27.16%
- 5Y*
- 16.03%
- 10Y*
- 11.90%
XDIV.TO
- 1D
- 0.19%
- 1M
- 3.65%
- YTD
- 19.17%
- 6M
- 18.94%
- 1Y
- 38.61%
- 3Y*
- 22.97%
- 5Y*
- 16.42%
- 10Y*
- —
XMD.TO vs. XDIV.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XMD.TO iShares S&P/TSX Completion Index ETF | 12.81% | 41.38% | 23.55% | 10.01% | -4.90% | 13.78% | 6.05% | 26.03% | -13.07% | 6.69% |
XDIV.TO iShares Core MSCI Canadian Quality Dividend Index ETF | 19.17% | 24.92% | 19.56% | 11.71% | 0.29% | 32.25% | -7.81% | 24.84% | -10.04% | 8.48% |
Correlation
The correlation between XMD.TO and XDIV.TO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jun 16, 2017 | 0.60 |
Over the past year, the correlation between XMD.TO and XDIV.TO has dropped to 0.36 - well below their long-term average of 0.60, suggesting their price drivers have been diverging.
XMD.TO vs. XDIV.TO - Sectors Allocation Comparison
Sectors
XMD.TO
XDIV.TO
Basic Materials
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Industrials
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Energy
Financial Services
Real Estate
-
Utilities
Consumer Cyclical
Technology
Consumer Defensive
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Communication Services
Healthcare
-
Basic Materials
XMD.TO
XDIV.TO
-
Industrials
XMD.TO
XDIV.TO
-
Energy
XMD.TO
XDIV.TO
Financial Services
XMD.TO
XDIV.TO
Real Estate
XMD.TO
XDIV.TO
-
Utilities
XMD.TO
XDIV.TO
Consumer Cyclical
XMD.TO
XDIV.TO
Technology
XMD.TO
XDIV.TO
Consumer Defensive
XMD.TO
XDIV.TO
-
Communication Services
XMD.TO
XDIV.TO
Healthcare
XMD.TO
XDIV.TO
-
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Return for Risk
XMD.TO vs. XDIV.TO — Risk / Return Rank
XMD.TO
XDIV.TO
XMD.TO vs. XDIV.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Completion Index ETF (XMD.TO) and iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.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.
| XMD.TO | XDIV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.47 | ||
| Sortino ratioReturn per unit of downside risk | -4.33 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 2.03 | -0.57 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 16.64 | -13.53 |
| Martin ratioReturn relative to average drawdown | 11.51 | 56.55 | -45.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XMD.TO | XDIV.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.47 | 4.94 | -2.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.97 | 1.57 | -0.60 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.81 | -0.26 |
Drawdowns
XMD.TO vs. XDIV.TO - Drawdown Comparison
The maximum XMD.TO drawdown since its inception was -53.42%, which is greater than XDIV.TO's maximum drawdown of -41.30%. Use the drawdown chart below to compare losses from any high point for XMD.TO and XDIV.TO.
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Drawdown Indicators
| XMD.TO | XDIV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.42% | -41.30% | -12.12% |
Max Drawdown (1Y)Largest decline over 1 year | -15.12% | -2.33% | -12.79% |
Max Drawdown (3Y)Largest decline over 3 years | -15.12% | -10.53% | -4.59% |
Max Drawdown (5Y)Largest decline over 5 years | -18.16% | -17.60% | -0.56% |
Max Drawdown (10Y)Largest decline over 10 years | -43.40% | — | — |
Current DrawdownCurrent decline from peak | -4.17% | -0.09% | -4.08% |
Average DrawdownAverage peak-to-trough decline | -8.20% | -4.25% | -3.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.08% | 0.69% | +3.39% |
Volatility
XMD.TO vs. XDIV.TO - Volatility Comparison
iShares S&P/TSX Completion Index ETF (XMD.TO) has a higher volatility of 5.74% compared to iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) at 2.81%. This indicates that XMD.TO's price experiences larger fluctuations and is considered to be riskier than XDIV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XMD.TO | XDIV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.74% | 2.81% | +2.93% |
Volatility (6M)Calculated over the trailing 6-month period | 16.26% | 6.36% | +9.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.08% | 7.85% | +11.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.59% | 10.53% | +6.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.93% | 16.01% | +0.92% |
XMD.TO vs. XDIV.TO - Expense Ratio Comparison
XMD.TO has a 0.60% expense ratio, which is higher than XDIV.TO's 0.11% expense ratio.
Dividends
XMD.TO vs. XDIV.TO - Dividend Comparison
XMD.TO's dividend yield for the trailing twelve months is around 0.83%, less than XDIV.TO's 3.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XDIV.TO iShares Core MSCI Canadian Quality Dividend Index ETF | 3.28% | 3.81% | 4.29% | 4.20% | 3.95% | 3.58% | 4.58% | 4.02% | 4.85% | 1.82% | 0.00% | 0.00% |
XMD.TO iShares S&P/TSX Completion Index ETF | 0.83% | 0.97% | 1.58% | 1.91% | 2.24% | 1.17% | 1.91% | 2.55% | 2.44% | 1.76% | 1.97% | 2.34% |
Frequently Asked Questions
XMD.TO and XDIV.TO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XDIV.TO is cheaper at 0.11% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XDIV.TO is cheaper with a 0.11% expense ratio, compared with 0.60% for XMD.TO.
XMD.TO is categorized as Canada Equities, while XDIV.TO is Dividend. XMD.TO tracks Morningstar Canada Sml GR CAD, while XDIV.TO tracks MSCI Canada High Dividend Yield 10% Security Capped Index. Their fees differ too: 0.60% for XMD.TO and 0.11% for XDIV.TO.
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