XMD.TO vs. XUS.TO
XMD.TO (iShares S&P/TSX Completion Index ETF) and XUS.TO (iShares Core S&P 500 Index ETF) are both exchange-traded funds - XMD.TO is a Canada Equities fund tracking the Morningstar Canada Sml GR CAD, while XUS.TO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, XMD.TO returned 11.90%/yr vs 15.98%/yr for XUS.TO. At a 0.41 correlation, their price movements are largely independent. XMD.TO charges 0.60%/yr vs 0.09%/yr for XUS.TO.
Performance
XMD.TO vs. XUS.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with XMD.TO having a 12.81% return and XUS.TO slightly lower at 12.21%. Over the past 10 years, XMD.TO has underperformed XUS.TO with an annualized return of 11.90%, while XUS.TO has yielded a comparatively higher 15.98% annualized 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%
XUS.TO
- 1D
- -0.31%
- 1M
- 7.22%
- YTD
- 12.21%
- 6M
- 10.39%
- 1Y
- 29.30%
- 3Y*
- 23.52%
- 5Y*
- 16.78%
- 10Y*
- 15.98%
XMD.TO vs. XUS.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% | 6.17% |
XUS.TO iShares Core S&P 500 Index ETF | 12.21% | 12.19% | 35.16% | 23.31% | -12.59% | 27.20% | 15.56% | 24.57% | 3.31% | 13.56% |
Correlation
The correlation between XMD.TO and XUS.TO is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2013 | 0.41 |
The correlation between XMD.TO and XUS.TO has been stable across timeframes, ranging from 0.41 to 0.50 - a consistent structural relationship.
XMD.TO vs. XUS.TO - Sectors Allocation Comparison
Sectors
XMD.TO
XUS.TO
Basic Materials
Industrials
Energy
Financial Services
Real Estate
Utilities
Consumer Cyclical
Technology
Consumer Defensive
Communication Services
Healthcare
Basic Materials
XMD.TO
XUS.TO
Industrials
XMD.TO
XUS.TO
Energy
XMD.TO
XUS.TO
Financial Services
XMD.TO
XUS.TO
Real Estate
XMD.TO
XUS.TO
Utilities
XMD.TO
XUS.TO
Consumer Cyclical
XMD.TO
XUS.TO
Technology
XMD.TO
XUS.TO
Consumer Defensive
XMD.TO
XUS.TO
Communication Services
XMD.TO
XUS.TO
Healthcare
XMD.TO
XUS.TO
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Return for Risk
XMD.TO vs. XUS.TO — Risk / Return Rank
XMD.TO
XUS.TO
XMD.TO vs. XUS.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 S&P 500 Index ETF (XUS.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 | XUS.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.47 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 3.41 | -0.30 |
| Martin ratioReturn relative to average drawdown | 11.51 | 12.94 | -1.43 |
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 | XUS.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.47 | 2.55 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.97 | 1.13 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | 0.98 | -0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 1.08 | -0.53 |
Drawdowns
XMD.TO vs. XUS.TO - Drawdown Comparison
The maximum XMD.TO drawdown since its inception was -53.42%, which is greater than XUS.TO's maximum drawdown of -27.23%. Use the drawdown chart below to compare losses from any high point for XMD.TO and XUS.TO.
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Drawdown Indicators
| XMD.TO | XUS.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.42% | -27.23% | -26.19% |
Max Drawdown (1Y)Largest decline over 1 year | -15.12% | -8.63% | -6.49% |
Max Drawdown (3Y)Largest decline over 3 years | -15.12% | -18.96% | +3.84% |
Max Drawdown (5Y)Largest decline over 5 years | -18.16% | -21.85% | +3.69% |
Max Drawdown (10Y)Largest decline over 10 years | -43.40% | -27.23% | -16.17% |
Current DrawdownCurrent decline from peak | -4.17% | -0.31% | -3.86% |
Average DrawdownAverage peak-to-trough decline | -8.20% | -3.46% | -4.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.08% | 2.27% | +1.81% |
Volatility
XMD.TO vs. XUS.TO - Volatility Comparison
iShares S&P/TSX Completion Index ETF (XMD.TO) has a higher volatility of 5.74% compared to iShares Core S&P 500 Index ETF (XUS.TO) at 3.19%. This indicates that XMD.TO's price experiences larger fluctuations and is considered to be riskier than XUS.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 | XUS.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.74% | 3.19% | +2.55% |
Volatility (6M)Calculated over the trailing 6-month period | 16.26% | 8.66% | +7.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.08% | 11.58% | +7.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.59% | 14.92% | +1.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.93% | 16.48% | +0.45% |
XMD.TO vs. XUS.TO - Expense Ratio Comparison
XMD.TO has a 0.60% expense ratio, which is higher than XUS.TO's 0.09% expense ratio.
Dividends
XMD.TO vs. XUS.TO - Dividend Comparison
XMD.TO's dividend yield for the trailing twelve months is around 0.83%, less than XUS.TO's 1.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XUS.TO iShares Core S&P 500 Index ETF | 1.12% | 1.26% | 1.03% | 1.22% | 1.38% | 0.99% | 1.35% | 2.02% | 1.77% | 1.48% | 1.66% | 1.70% |
Frequently Asked Questions
XMD.TO and XUS.TO have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUS.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUS.TO is cheaper with a 0.09% expense ratio, compared with 0.60% for XMD.TO.
XMD.TO is categorized as Canada Equities, while XUS.TO is S&P 500. XMD.TO tracks Morningstar Canada Sml GR CAD, while XUS.TO tracks S&P 500 Index. Their fees differ too: 0.60% for XMD.TO and 0.09% for XUS.TO.
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