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XMTM.TO vs. VDY.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMTM.TO vs. VDY.TO

Last updated Jun 26, 2026

XMTM.TO (iShares MSCI USA Momentum Factor Index ETF) and VDY.TO (Vanguard FTSE Canadian High Dividend Yield Index ETF) are both exchange-traded funds - XMTM.TO is a Momentum fund tracking the MSCI USA Momentum SR Variant Index, while VDY.TO is a Dividend fund tracking the FTSE Canada High Dividend Yield Index. Both are passively managed. Over the past 5 years, XMTM.TO returned 18.51%/yr vs 18.07%/yr for VDY.TO. At a 0.21 correlation, their price movements are largely independent. XMTM.TO charges 0.31%/yr vs 0.22%/yr for VDY.TO.

Performance

XMTM.TO vs. VDY.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI USA Momentum Factor Index ETF (XMTM.TO) and Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XMTM.TO achieves a 39.24% return, which is significantly higher than VDY.TO's 24.72% return.

XMTM.TO

1D
2.09%
1M
10.46%
YTD
39.24%
6M
31.83%
1Y
45.84%
3Y*
36.72%
5Y*
18.51%
10Y*
—

VDY.TO

1D
0.64%
1M
3.23%
YTD
24.72%
6M
23.46%
1Y
51.39%
3Y*
28.65%
5Y*
18.07%
10Y*
14.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XMTM.TO vs. VDY.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XMTM.TO
iShares MSCI USA Momentum Factor Index ETF		39.24%14.03%43.59%6.48%-14.53%15.00%25.77%3.26%
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index ETF		24.72%29.21%21.44%8.41%-0.23%36.60%-1.37%3.08%

Correlation

The correlation between XMTM.TO and VDY.TO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.28

Correlation (3Y)
Calculated over the trailing 3-year period

0.29

Correlation (5Y)
Calculated over the trailing 5-year period

0.28

Correlation (All Time)
Calculated using the full available price history since Sep 17, 2019

0.21

XMTM.TO vs. VDY.TO - Sectors Allocation Comparison

Sectors
XMTM.TO
VDY.TO

Technology

50.8%
0.4%

Industrials

12.0%
0.2%

Energy

10.4%
30.8%

Financial Services

5.0%
56.0%

Communication Services

4.6%
2.8%

Consumer Defensive

3.8%
0.4%

Healthcare

3.6%
0.1%

Utilities

3.3%
4.1%

Consumer Cyclical

2.9%
3.0%

Basic Materials

2.2%
2.2%

Real Estate

1.3%

-

Technology

XMTM.TO
50.8%
VDY.TO
0.4%

Industrials

XMTM.TO
12.0%
VDY.TO
0.2%

Energy

XMTM.TO
10.4%
VDY.TO
30.8%

Financial Services

XMTM.TO
5.0%
VDY.TO
56.0%

Communication Services

XMTM.TO
4.6%
VDY.TO
2.8%

Consumer Defensive

XMTM.TO
3.8%
VDY.TO
0.4%

Healthcare

XMTM.TO
3.6%
VDY.TO
0.1%

Utilities

XMTM.TO
3.3%
VDY.TO
4.1%

Consumer Cyclical

XMTM.TO
2.9%
VDY.TO
3.0%

Basic Materials

XMTM.TO
2.2%
VDY.TO
2.2%

Real Estate

XMTM.TO
1.3%
VDY.TO

-

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iShares MSCI USA Momentum Factor Index ETF

Vanguard FTSE Canadian High Dividend Yield Index ETF

Often compared with XMTM.TO:
XMTM.TO vs. SPMOXMTM.TO vs. VMO.TOXMTM.TO vs. VFV.TOXMTM.TO vs. XCHP.TOXMTM.TO vs. FEQT.NEOXMTM.TO vs. QQC.TOXMTM.TO vs. VOO
Often compared with VDY.TO:
VDY.TO vs. XEI.TOVDY.TO vs. XDIV.TOVDY.TO vs. VCN.TOVDY.TO vs. SCHDVDY.TO vs. XIC.TOVDY.TO vs. VCE.TOVDY.TO vs. ZDV.TO

Return for Risk

XMTM.TO vs. VDY.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XMTM.TO
XMTM.TO Risk / Return Rank: 7777
Overall Rank
XMTM.TO Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
XMTM.TO Sortino Ratio Rank: 7575
Sortino Ratio Rank
XMTM.TO Omega Ratio Rank: 7676
Omega Ratio Rank
XMTM.TO Calmar Ratio Rank: 8484
Calmar Ratio Rank
XMTM.TO Martin Ratio Rank: 7070
Martin Ratio Rank
VDY.TO
VDY.TO Risk / Return Rank: 9898
Overall Rank
VDY.TO Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
VDY.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
VDY.TO Omega Ratio Rank: 9898
Omega Ratio Rank
VDY.TO Calmar Ratio Rank: 9999
Calmar Ratio Rank
VDY.TO Martin Ratio Rank: 9898
Martin Ratio Rank
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.

XMTM.TO vs. VDY.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Momentum Factor Index ETF (XMTM.TO) and Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.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.

XMTM.TOVDY.TODifference
Sharpe ratioReturn per unit of total volatility
2.16
6.17

-4.01

Sortino ratioReturn per unit of downside risk
2.91
8.74

-5.83

Omega ratioGain probability vs. loss probability

1.39

2.24

-0.85

Calmar ratioReturn relative to maximum drawdown

4.03

16.56

-12.53

Martin ratioReturn relative to average drawdown

11.32

67.37

-56.06

XMTM.TO vs. VDY.TO - Sharpe Ratio Comparison

The current XMTM.TO Sharpe Ratio is 2.16, which is lower than the VDY.TO Sharpe Ratio of 6.17. The chart below compares the historical Sharpe Ratios of XMTM.TO and VDY.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.

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Drawdowns

XMTM.TO vs. VDY.TO - Drawdown Comparison

The maximum XMTM.TO drawdown since its inception was -29.01%, smaller than the maximum VDY.TO drawdown of -39.21%. Use the drawdown chart below to compare losses from any high point for XMTM.TO and VDY.TO.

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Drawdown Indicators

XMTM.TOVDY.TODifference

Max Drawdown

Largest peak-to-trough decline

-29.01%

-39.21%

+10.20%

Max Drawdown (1Y)

Largest decline over 1 year

-11.42%

-3.12%

-8.30%

Max Drawdown (3Y)

Largest decline over 3 years

-20.64%

-10.38%

-10.26%

Max Drawdown (5Y)

Largest decline over 5 years

-29.01%

-16.17%

-12.84%

Max Drawdown (10Y)

Largest decline over 10 years

—

-39.21%

—

Current Drawdown

Current decline from peak

-1.52%

-0.22%

-1.30%

Average Drawdown

Average peak-to-trough decline

-7.91%

-4.46%

-3.45%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.06%

0.76%

+3.30%

Volatility

XMTM.TO vs. VDY.TO - Volatility Comparison

iShares MSCI USA Momentum Factor Index ETF (XMTM.TO) has a higher volatility of 11.27% compared to Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) at 2.95%. This indicates that XMTM.TO's price experiences larger fluctuations and is considered to be riskier than VDY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XMTM.TOVDY.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

11.27%

2.95%

+8.32%

Volatility (6M)

Calculated over the trailing 6-month period

19.02%

6.95%

+12.07%

Volatility (1Y)

Calculated over the trailing 1-year period

21.32%

8.39%

+12.93%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.42%

11.57%

+7.85%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.42%

15.92%

+4.50%

XMTM.TO vs. VDY.TO - Expense Ratio Comparison

XMTM.TO has a 0.31% expense ratio, which is higher than VDY.TO's 0.22% expense ratio.

Dividends

XMTM.TO vs. VDY.TO - Dividend Comparison

XMTM.TO's dividend yield for the trailing twelve months is around 0.46%, less than VDY.TO's 3.05% yield.

PositionTTM20252024202320222021202020192018201720162015
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index ETF		3.05%3.59%4.37%4.64%4.42%3.46%4.59%4.25%4.44%3.42%3.25%4.11%
XMTM.TO
iShares MSCI USA Momentum Factor Index ETF		0.46%0.71%0.62%0.84%1.66%0.32%0.64%1.24%0.00%0.00%0.00%0.00%

Frequently Asked Questions

XMTM.TO and VDY.TO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VDY.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VDY.TO is cheaper with a 0.22% expense ratio, compared with 0.31% for XMTM.TO.

XMTM.TO is categorized as Momentum, while VDY.TO is Dividend. XMTM.TO tracks MSCI USA Momentum SR Variant Index, while VDY.TO tracks FTSE Canada High Dividend Yield Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.31% for XMTM.TO and 0.22% for VDY.TO.

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