XMM.TO vs. XSP.TO
XMM.TO (iShares MSCI Min Vol Emerging Markets Index ETF) and XSP.TO (iShares Core S&P 500 Index ETF (CAD-Hedged)) are both exchange-traded funds - XMM.TO is a Emerging Markets Equities fund tracking the Morningstar EM GR CAD, while XSP.TO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, XMM.TO returned 6.86%/yr vs 13.79%/yr for XSP.TO. At a 0.45 correlation, their price movements are largely independent. XMM.TO charges 0.42%/yr vs 0.09%/yr for XSP.TO.
Performance
XMM.TO vs. XSP.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XMM.TO achieves a 18.98% return, which is significantly higher than XSP.TO's 9.64% return. Over the past 10 years, XMM.TO has underperformed XSP.TO with an annualized return of 6.86%, while XSP.TO has yielded a comparatively higher 13.79% annualized return.
XMM.TO
- 1D
- -0.77%
- 1M
- 9.35%
- YTD
- 18.98%
- 6M
- 17.95%
- 1Y
- 27.44%
- 3Y*
- 15.00%
- 5Y*
- 8.00%
- 10Y*
- 6.86%
XSP.TO
- 1D
- -0.73%
- 1M
- 4.98%
- YTD
- 9.64%
- 6M
- 9.50%
- 1Y
- 25.13%
- 3Y*
- 20.28%
- 5Y*
- 12.18%
- 10Y*
- 13.79%
XMM.TO vs. XSP.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XMM.TO iShares MSCI Min Vol Emerging Markets Index ETF | 18.98% | 7.65% | 16.66% | 4.10% | -7.83% | 3.95% | 4.32% | 1.36% | 2.35% | 18.74% |
XSP.TO iShares Core S&P 500 Index ETF (CAD-Hedged) | 9.64% | 15.68% | 23.39% | 24.33% | -19.32% | 27.85% | 15.17% | 29.35% | -6.26% | 20.71% |
Correlation
The correlation between XMM.TO and XSP.TO is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2012 | 0.45 |
The correlation between XMM.TO and XSP.TO shifts across timeframes, from 0.34 (5 years) to 0.54 (1 year), reflecting how their relationship changes across market environments.
XMM.TO vs. XSP.TO - Sectors Allocation Comparison
Sectors
XMM.TO
XSP.TO
Technology
Financial Services
Communication Services
Consumer Defensive
Consumer Cyclical
Healthcare
Utilities
Industrials
Energy
Basic Materials
Real Estate
Technology
XMM.TO
XSP.TO
Financial Services
XMM.TO
XSP.TO
Communication Services
XMM.TO
XSP.TO
Consumer Defensive
XMM.TO
XSP.TO
Consumer Cyclical
XMM.TO
XSP.TO
Healthcare
XMM.TO
XSP.TO
Utilities
XMM.TO
XSP.TO
Industrials
XMM.TO
XSP.TO
Energy
XMM.TO
XSP.TO
Basic Materials
XMM.TO
XSP.TO
Real Estate
XMM.TO
XSP.TO
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Return for Risk
XMM.TO vs. XSP.TO — Risk / Return Rank
XMM.TO
XSP.TO
XMM.TO vs. XSP.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Min Vol Emerging Markets Index ETF (XMM.TO) and iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.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.
| XMM.TO | XSP.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.39 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.15 | 2.68 | +0.46 |
| Martin ratioReturn relative to average drawdown | 11.25 | 12.40 | -1.15 |
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
| XMM.TO | XSP.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.19 | 2.15 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.77 | 0.73 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.76 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.37 | +0.18 |
Drawdowns
XMM.TO vs. XSP.TO - Drawdown Comparison
The maximum XMM.TO drawdown since its inception was -22.07%, smaller than the maximum XSP.TO drawdown of -57.82%. Use the drawdown chart below to compare losses from any high point for XMM.TO and XSP.TO.
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Drawdown Indicators
| XMM.TO | XSP.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.07% | -57.82% | +35.75% |
Max Drawdown (1Y)Largest decline over 1 year | -8.76% | -9.41% | +0.65% |
Max Drawdown (3Y)Largest decline over 3 years | -9.94% | -18.77% | +8.83% |
Max Drawdown (5Y)Largest decline over 5 years | -15.42% | -25.44% | +10.02% |
Max Drawdown (10Y)Largest decline over 10 years | -22.07% | -36.05% | +13.98% |
Current DrawdownCurrent decline from peak | -0.77% | -0.73% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -5.21% | -12.11% | +6.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.45% | 2.03% | +0.42% |
Volatility
XMM.TO vs. XSP.TO - Volatility Comparison
iShares MSCI Min Vol Emerging Markets Index ETF (XMM.TO) has a higher volatility of 5.38% compared to iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) at 3.25%. This indicates that XMM.TO's price experiences larger fluctuations and is considered to be riskier than XSP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XMM.TO | XSP.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.38% | 3.25% | +2.13% |
Volatility (6M)Calculated over the trailing 6-month period | 11.25% | 8.99% | +2.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.57% | 11.75% | +0.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.40% | 16.75% | -6.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.02% | 18.19% | -6.17% |
XMM.TO vs. XSP.TO - Expense Ratio Comparison
XMM.TO has a 0.42% expense ratio, which is higher than XSP.TO's 0.09% expense ratio.
Dividends
XMM.TO vs. XSP.TO - Dividend Comparison
XMM.TO's dividend yield for the trailing twelve months is around 2.00%, more than XSP.TO's 1.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XMM.TO iShares MSCI Min Vol Emerging Markets Index ETF | 2.00% | 2.37% | 2.95% | 2.55% | 1.55% | 1.91% | 2.09% | 2.44% | 2.21% | 2.09% | 2.32% | 2.16% |
XSP.TO iShares Core S&P 500 Index ETF (CAD-Hedged) | 1.12% | 1.23% | 1.09% | 1.18% | 1.37% | 1.00% | 1.31% | 1.73% | 1.84% | 1.47% | 1.75% | 1.86% |
Frequently Asked Questions
XMM.TO and XSP.TO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XSP.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSP.TO is cheaper with a 0.09% expense ratio, compared with 0.42% for XMM.TO.
XMM.TO is categorized as Emerging Markets Equities, while XSP.TO is S&P 500. XMM.TO tracks Morningstar EM GR CAD, while XSP.TO tracks S&P 500 Index. Their fees differ too: 0.42% for XMM.TO and 0.09% for XSP.TO.
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