XME vs. XAD.TO
XME (SPDR S&P Metals & Mining ETF) and XAD.TO (iShares U.S. Aerospace & Defense Index ETF) are both exchange-traded funds - XME is a Materials fund tracking the S&P Metals & Mining Select Industry Index, while XAD.TO is a Aerospace & Defense fund tracking the Dow Jones U.S. Select Aerospace & Defense Index. Both are passively managed. Over the past year, XME returned 85.07% vs 30.79% for XAD.TO. At a 0.30 correlation, their price movements are largely independent. XME charges 0.35%/yr vs 0.44%/yr for XAD.TO.
Performance
XME vs. XAD.TO - Performance Comparison
Loading charts...
Different Trading Currencies
XME is traded in USD, while XAD.TO is traded in CAD. To make them comparable, the XAD.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XME achieves a 16.32% return, which is significantly higher than XAD.TO's 8.97% return.
XME
- 1D
- 1.77%
- 1M
- -0.44%
- YTD
- 16.32%
- 6M
- 18.13%
- 1Y
- 85.07%
- 3Y*
- 35.23%
- 5Y*
- 21.78%
- 10Y*
- 19.60%
XAD.TO
- 1D
- -0.65%
- 1M
- 7.53%
- YTD
- 8.97%
- 6M
- 12.08%
- 1Y
- 30.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XME vs. XAD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XME SPDR S&P Metals & Mining ETF | 16.32% | 83.47% | -4.54% | 13.61% |
XAD.TO iShares U.S. Aerospace & Defense Index ETF | 8.97% | 48.55% | 15.24% | 16.07% |
Correlation
The correlation between XME and XAD.TO is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 2023 | 0.30 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XME vs. XAD.TO — Risk / Return Rank
XME
XAD.TO
XME vs. XAD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Metals & Mining ETF (XME) and iShares U.S. Aerospace & Defense Index ETF (XAD.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| XME | XAD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.93 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.25 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.84 | 2.02 | +1.82 |
| Martin ratioReturn relative to average drawdown | 9.58 | 5.32 | +4.26 |
Loading charts...
Drawdowns
XME vs. XAD.TO - Drawdown Comparison
The maximum XME drawdown since its inception was -85.89%, which is greater than XAD.TO's maximum drawdown of -15.78%. Use the drawdown chart below to compare losses from any high point for XME and XAD.TO.
Loading charts...
Drawdown Indicators
| XME | XAD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.89% | -15.78% | -70.11% |
Max Drawdown (1Y)Largest decline over 1 year | -22.60% | -15.78% | -6.82% |
Max Drawdown (3Y)Largest decline over 3 years | -30.47% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -37.27% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -61.69% | — | — |
Current DrawdownCurrent decline from peak | -9.33% | -6.37% | -2.96% |
Average DrawdownAverage peak-to-trough decline | -44.09% | -2.97% | -41.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.05% | 5.99% | +3.06% |
Volatility
XME vs. XAD.TO - Volatility Comparison
SPDR S&P Metals & Mining ETF (XME) has a higher volatility of 15.26% compared to iShares U.S. Aerospace & Defense Index ETF (XAD.TO) at 7.64%. This indicates that XME's price experiences larger fluctuations and is considered to be riskier than XAD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XME | XAD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.26% | 7.64% | +7.62% |
Volatility (6M)Calculated over the trailing 6-month period | 28.51% | 17.61% | +10.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.11% | 21.57% | +14.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.84% | 20.46% | +12.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.96% | 20.46% | +12.50% |
XME vs. XAD.TO - Expense Ratio Comparison
XME has a 0.35% expense ratio, which is lower than XAD.TO's 0.44% expense ratio.
Dividends
XME vs. XAD.TO - Dividend Comparison
XME's dividend yield for the trailing twelve months is around 0.32%, which matches XAD.TO's 0.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XAD.TO iShares U.S. Aerospace & Defense Index ETF | 0.32% | 0.35% | 0.44% | 0.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XME SPDR S&P Metals & Mining ETF | 0.32% | 0.38% | 0.65% | 1.00% | 1.64% | 0.70% | 0.99% | 2.43% | 2.23% | 1.15% | 1.02% | 2.61% |
Frequently Asked Questions
XME and XAD.TO have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XME is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XME is cheaper with a 0.35% expense ratio, compared with 0.44% for XAD.TO.
XME is categorized as Materials, while XAD.TO is Aerospace & Defense. XME tracks S&P Metals & Mining Select Industry Index, while XAD.TO tracks Dow Jones U.S. Select Aerospace & Defense Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.35% for XME and 0.44% for XAD.TO.
Find the right allocation for XME and XAD.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer