XMU.TO vs. TPU.TO
XMU.TO (iShares MSCI Min Vol USA Index ETF) and TPU.TO (TD U.S. Equity Index ETF) are both Large Cap Blend Equities funds - XMU.TO tracks the MSCI USA Minimum Volatility Index while TPU.TO tracks the Solactive US Large Cap CAD Index. Both are passively managed. Over the past 10 years, XMU.TO returned 9.17%/yr vs 16.10%/yr for TPU.TO. A 0.68 correlation means they provide meaningful diversification when combined. XMU.TO charges 0.33%/yr vs 0.06%/yr for TPU.TO.
Performance
XMU.TO vs. TPU.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XMU.TO achieves a 3.85% return, which is significantly lower than TPU.TO's 12.48% return. Over the past 10 years, XMU.TO has underperformed TPU.TO with an annualized return of 9.17%, while TPU.TO has yielded a comparatively higher 16.10% annualized return.
XMU.TO
- 1D
- -0.09%
- 1M
- 4.37%
- YTD
- 3.85%
- 6M
- -1.16%
- 1Y
- 1.98%
- 3Y*
- 10.21%
- 5Y*
- 8.15%
- 10Y*
- 9.17%
TPU.TO
- 1D
- -0.27%
- 1M
- 7.38%
- YTD
- 12.48%
- 6M
- 10.60%
- 1Y
- 29.73%
- 3Y*
- 23.84%
- 5Y*
- 16.57%
- 10Y*
- 16.10%
XMU.TO vs. TPU.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XMU.TO iShares MSCI Min Vol USA Index ETF | 3.85% | -0.84% | 21.99% | 6.59% | -3.64% | 16.99% | 2.99% | 20.78% | 9.07% | 10.80% |
TPU.TO TD U.S. Equity Index ETF | 12.48% | 12.69% | 34.82% | 24.24% | -14.31% | 26.02% | 18.73% | 25.02% | 3.03% | 13.31% |
Correlation
The correlation between XMU.TO and TPU.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 | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2016 | 0.68 |
Over the past year, the correlation between XMU.TO and TPU.TO has dropped to 0.45 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.
XMU.TO vs. TPU.TO - Sectors Allocation Comparison
Sectors
XMU.TO
TPU.TO
Technology
Financial Services
Healthcare
Consumer Defensive
Utilities
Communication Services
Consumer Cyclical
Industrials
Energy
Real Estate
Basic Materials
Technology
XMU.TO
TPU.TO
Financial Services
XMU.TO
TPU.TO
Healthcare
XMU.TO
TPU.TO
Consumer Defensive
XMU.TO
TPU.TO
Utilities
XMU.TO
TPU.TO
Communication Services
XMU.TO
TPU.TO
Consumer Cyclical
XMU.TO
TPU.TO
Industrials
XMU.TO
TPU.TO
Energy
XMU.TO
TPU.TO
Real Estate
XMU.TO
TPU.TO
Basic Materials
XMU.TO
TPU.TO
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Return for Risk
XMU.TO vs. TPU.TO — Risk / Return Rank
XMU.TO
TPU.TO
XMU.TO vs. TPU.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Min Vol USA Index ETF (XMU.TO) and TD U.S. Equity Index ETF (TPU.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.
| XMU.TO | TPU.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.32 | ||
| Sortino ratioReturn per unit of downside risk | -3.07 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.46 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | 0.26 | 3.44 | -3.18 |
| Martin ratioReturn relative to average drawdown | 0.56 | 12.86 | -12.31 |
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
| XMU.TO | TPU.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.22 | 2.53 | -2.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 1.09 | -0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 0.97 | -0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.98 | 0.97 | +0.01 |
Drawdowns
XMU.TO vs. TPU.TO - Drawdown Comparison
The maximum XMU.TO drawdown since its inception was -27.31%, roughly equal to the maximum TPU.TO drawdown of -27.96%. Use the drawdown chart below to compare losses from any high point for XMU.TO and TPU.TO.
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Drawdown Indicators
| XMU.TO | TPU.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.31% | -27.96% | +0.65% |
Max Drawdown (1Y)Largest decline over 1 year | -7.71% | -8.68% | +0.97% |
Max Drawdown (3Y)Largest decline over 3 years | -10.98% | -19.30% | +8.32% |
Max Drawdown (5Y)Largest decline over 5 years | -18.16% | -23.73% | +5.57% |
Max Drawdown (10Y)Largest decline over 10 years | -27.31% | -27.96% | +0.65% |
Current DrawdownCurrent decline from peak | -3.95% | -0.27% | -3.68% |
Average DrawdownAverage peak-to-trough decline | -3.44% | -3.96% | +0.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.57% | 2.32% | +1.25% |
Volatility
XMU.TO vs. TPU.TO - Volatility Comparison
The current volatility for iShares MSCI Min Vol USA Index ETF (XMU.TO) is 2.18%, while TD U.S. Equity Index ETF (TPU.TO) has a volatility of 3.23%. This indicates that XMU.TO experiences smaller price fluctuations and is considered to be less risky than TPU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XMU.TO | TPU.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.18% | 3.23% | -1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 6.86% | 8.83% | -1.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.20% | 11.81% | -2.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.15% | 15.31% | -4.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.97% | 16.60% | -2.63% |
XMU.TO vs. TPU.TO - Expense Ratio Comparison
XMU.TO has a 0.33% expense ratio, which is higher than TPU.TO's 0.06% expense ratio.
Dividends
XMU.TO vs. TPU.TO - Dividend Comparison
XMU.TO's dividend yield for the trailing twelve months is around 1.12%, more than TPU.TO's 0.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TPU.TO TD U.S. Equity Index ETF | 0.85% | 0.96% | 0.90% | 1.22% | 1.34% | 0.99% | 1.23% | 1.23% | 1.57% | 1.59% | 1.33% | 0.00% |
XMU.TO iShares MSCI Min Vol USA Index ETF | 1.12% | 1.10% | 1.14% | 1.33% | 1.10% | 1.00% | 1.59% | 1.36% | 1.39% | 1.51% | 1.73% | 1.35% |
Frequently Asked Questions
XMU.TO and TPU.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, TPU.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TPU.TO is cheaper with a 0.06% expense ratio, compared with 0.33% for XMU.TO.
XMU.TO tracks MSCI USA Minimum Volatility Index, while TPU.TO tracks Solactive US Large Cap CAD Index. They also come from different issuers: iShares and TD. Their fees differ too: 0.33% for XMU.TO and 0.06% for TPU.TO.
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