XMS.TO vs. XUU-U.TO

Last updated Jun 4, 2026

XMS.TO (iShares MSCI Min Vol USA Index ETF (CAD-Hedged)) and XUU-U.TO (iShares Core S&P U.S. Total Market Index ETF) are both Large Cap Blend Equities funds from iShares - XMS.TO tracks the MSCI USA Minimum Volatility (USD) 100% Hedged to CAD Index while XUU-U.TO tracks the S&P Total Market Index. Both are passively managed. Over the past 5 years, XMS.TO returned 5.12%/yr vs 15.74%/yr for XUU-U.TO. At a 0.13 correlation, their price movements are largely independent. XMS.TO charges 0.33%/yr vs 0.08%/yr for XUU-U.TO.

Performance

XMS.TO vs. XUU-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI Min Vol USA Index ETF (CAD-Hedged) (XMS.TO) and iShares Core S&P U.S. Total Market Index ETF (XUU-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XMS.TO is traded in CAD, while XUU-U.TO is traded in USD. To make them comparable, the XUU-U.TO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XMS.TO achieves a 1.17% return, which is significantly lower than XUU-U.TO's 12.58% return.

XMS.TO

• 1D: -0.36%
• 1M: 1.94%
• YTD: 1.17%
• 6M: -0.55%
• 1Y: 0.08%
• 3Y*: 8.89%
• 5Y*: 5.12%
• 10Y*: 7.82%

XUU-U.TO

• 1D: 0.03%
• 1M: 7.44%
• YTD: 12.58%
• 6M: 10.92%
• 1Y: 29.83%
• 3Y*: 22.81%
• 5Y*: 15.74%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XMS.TO vs. XUU-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XMS.TO iShares MSCI Min Vol USA Index ETF (CAD-Hedged)	1.17%	3.71%	14.23%	7.84%	-11.15%	21.02%	1.81%	3.45%
XUU-U.TO iShares Core S&P U.S. Total Market Index ETF	12.58%	11.00%	33.03%	23.73%	-14.72%	26.98%	16.71%	6.48%

Correlation

The correlation between XMS.TO and XUU-U.TO is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (All Time) Calculated using the full available price history since Oct 23, 2019	0.13

The correlation between XMS.TO and XUU-U.TO shifts across timeframes, from 0.13 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

XMS.TO vs. XUU-U.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XMS.TO

XMS.TO Risk / Return Rank: 9
XMS.TO Sharpe Ratio Rank: 9
XMS.TO Sortino Ratio Rank: 8
XMS.TO Omega Ratio Rank: 8
XMS.TO Calmar Ratio Rank: 9
XMS.TO Martin Ratio Rank: 9

XUU-U.TO

XUU-U.TO Risk / Return Rank: 72
XUU-U.TO Sharpe Ratio Rank: 71
XUU-U.TO Sortino Ratio Rank: 69
XUU-U.TO Omega Ratio Rank: 81
XUU-U.TO Calmar Ratio Rank: 64
XUU-U.TO Martin Ratio Rank: 77

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.

XMS.TO vs. XUU-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Min Vol USA Index ETF (CAD-Hedged) (XMS.TO) and iShares Core S&P U.S. Total Market Index ETF (XUU-U.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.

	XMS.TO	XUU-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.01	2.51	-2.50
Sortino ratio: Return per unit of downside risk	0.07	3.34	-3.27
Omega ratio: Gain probability vs. loss probability	1.01	1.49	-0.48
Calmar ratio: Return relative to maximum drawdown	0.01	3.49	-3.48
Martin ratio: Return relative to average drawdown	0.03	13.31	-13.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XMS.TO vs. XUU-U.TO - Sharpe Ratio Comparison

The current XMS.TO Sharpe Ratio is 0.01, which is lower than the XUU-U.TO Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of XMS.TO and XUU-U.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XMS.TO	XUU-U.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.01	2.51	-2.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.97	-0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.96	-0.42

Drawdowns

XMS.TO vs. XUU-U.TO - Drawdown Comparison

The maximum XMS.TO drawdown since its inception was -36.48%, which is greater than XUU-U.TO's maximum drawdown of -24.77%. Use the drawdown chart below to compare losses from any high point for XMS.TO and XUU-U.TO.

Drawdown Indicators

	XMS.TO	XUU-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-36.48%	-24.77%	-11.71%
Max Drawdown (1Y) Largest decline over 1 year	-6.91%	-8.58%	+1.67%
Max Drawdown (3Y) Largest decline over 3 years	-9.82%	-20.06%	+10.24%
Max Drawdown (5Y) Largest decline over 5 years	-19.23%	-22.68%	+3.45%
Max Drawdown (10Y) Largest decline over 10 years	-36.48%	—	—
Current Drawdown Current decline from peak	-1.73%	0.00%	-1.73%
Average Drawdown Average peak-to-trough decline	-4.26%	-4.88%	+0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	2.25%	+0.29%

Volatility

XMS.TO vs. XUU-U.TO - Volatility Comparison

The current volatility for iShares MSCI Min Vol USA Index ETF (CAD-Hedged) (XMS.TO) is 2.35%, while iShares Core S&P U.S. Total Market Index ETF (XUU-U.TO) has a volatility of 2.86%. This indicates that XMS.TO experiences smaller price fluctuations and is considered to be less risky than XUU-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XMS.TO	XUU-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.35%	2.86%	-0.51%
Volatility (6M) Calculated over the trailing 6-month period	6.14%	9.19%	-3.05%
Volatility (1Y) Calculated over the trailing 1-year period	8.75%	11.93%	-3.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.11%	16.25%	-4.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.74%	17.36%	-2.62%

XMS.TO vs. XUU-U.TO - Expense Ratio Comparison

XMS.TO has a 0.33% expense ratio, which is higher than XUU-U.TO's 0.08% expense ratio.

Dividends

XMS.TO vs. XUU-U.TO - Dividend Comparison

XMS.TO's dividend yield for the trailing twelve months is around 1.18%, more than XUU-U.TO's 0.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
XMS.TO iShares MSCI Min Vol USA Index ETF (CAD-Hedged)	1.18%	1.08%	1.21%	1.38%	1.20%	0.99%	1.66%	1.40%	1.54%	1.53%	1.43%
XUU-U.TO iShares Core S&P U.S. Total Market Index ETF	0.74%	0.83%	0.76%	0.85%	1.01%	0.77%	0.90%	0.38%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XMS.TO and XUU-U.TO in my portfolio?

XMS.TO and XUU-U.TO have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XMS.TO or XUU-U.TO?

On fees, XUU-U.TO is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XMS.TO or XUU-U.TO?

XUU-U.TO is cheaper with a 0.08% expense ratio, compared with 0.33% for XMS.TO.

What is the main difference between XMS.TO and XUU-U.TO?

XMS.TO tracks MSCI USA Minimum Volatility (USD) 100% Hedged to CAD Index, while XUU-U.TO tracks S&P Total Market Index. Their fees differ too: 0.33% for XMS.TO and 0.08% for XUU-U.TO.