XMU.TO vs. UOCT
XMU.TO (iShares MSCI Min Vol USA Index ETF) and UOCT (Innovator U.S. Equity Ultra Buffer ETF October) are both exchange-traded funds - XMU.TO is a Large Cap Blend Equities fund tracking the MSCI USA Minimum Volatility Index, while UOCT is a Defined Outcome fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, XMU.TO returned 8.15%/yr vs 11.34%/yr for UOCT. A 0.53 correlation means they provide meaningful diversification when combined. XMU.TO charges 0.33%/yr vs 0.79%/yr for UOCT.
Performance
XMU.TO vs. UOCT - Performance Comparison
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Different Trading Currencies
XMU.TO is traded in CAD, while UOCT is traded in USD. To make them comparable, the UOCT values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XMU.TO achieves a 3.85% return, which is significantly lower than UOCT's 6.42% 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%
UOCT
- 1D
- 0.29%
- 1M
- 4.06%
- YTD
- 6.42%
- 6M
- 4.97%
- 1Y
- 15.69%
- 3Y*
- 12.96%
- 5Y*
- 11.34%
- 10Y*
- —
XMU.TO vs. UOCT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | -1.71% |
UOCT Innovator U.S. Equity Ultra Buffer ETF October | 6.42% | 5.59% | 18.35% | 16.04% | 2.49% | 4.87% | 6.17% | 5.44% | -0.09% |
Correlation
The correlation between XMU.TO and UOCT is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Oct 2, 2018 | 0.53 |
The correlation between XMU.TO and UOCT shifts across timeframes, from 0.41 (1 year) to 0.53 (all time), reflecting how their relationship changes across market environments.
XMU.TO vs. UOCT - Sectors Allocation Comparison
Sectors
XMU.TO
UOCT
Technology
Financial Services
Healthcare
Consumer Defensive
Utilities
Communication Services
Consumer Cyclical
Industrials
Energy
Real Estate
Basic Materials
Technology
XMU.TO
UOCT
Financial Services
XMU.TO
UOCT
Healthcare
XMU.TO
UOCT
Consumer Defensive
XMU.TO
UOCT
Utilities
XMU.TO
UOCT
Communication Services
XMU.TO
UOCT
Consumer Cyclical
XMU.TO
UOCT
Industrials
XMU.TO
UOCT
Energy
XMU.TO
UOCT
Real Estate
XMU.TO
UOCT
Basic Materials
XMU.TO
UOCT
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Return for Risk
XMU.TO vs. UOCT — Risk / Return Rank
XMU.TO
UOCT
XMU.TO vs. UOCT - 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 Innovator U.S. Equity Ultra Buffer ETF October (UOCT). 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 | UOCT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.22 | ||
| Sortino ratioReturn per unit of downside risk | -2.95 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.47 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | 0.26 | 3.66 | -3.41 |
| Martin ratioReturn relative to average drawdown | 0.56 | 11.49 | -10.94 |
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 | UOCT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.22 | 2.44 | -2.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 1.58 | -0.85 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.98 | 1.08 | -0.10 |
Drawdowns
XMU.TO vs. UOCT - Drawdown Comparison
The maximum XMU.TO drawdown since its inception was -27.31%, which is greater than UOCT's maximum drawdown of -11.50%. Use the drawdown chart below to compare losses from any high point for XMU.TO and UOCT.
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Drawdown Indicators
| XMU.TO | UOCT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.31% | -11.50% | -15.81% |
Max Drawdown (1Y)Largest decline over 1 year | -7.71% | -4.30% | -3.41% |
Max Drawdown (3Y)Largest decline over 3 years | -10.98% | -11.50% | +0.52% |
Max Drawdown (5Y)Largest decline over 5 years | -18.16% | -11.50% | -6.66% |
Max Drawdown (10Y)Largest decline over 10 years | -27.31% | — | — |
Current DrawdownCurrent decline from peak | -3.95% | 0.00% | -3.95% |
Average DrawdownAverage peak-to-trough decline | -3.44% | -1.58% | -1.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.57% | 1.37% | +2.20% |
Volatility
XMU.TO vs. UOCT - Volatility Comparison
iShares MSCI Min Vol USA Index ETF (XMU.TO) has a higher volatility of 2.18% compared to Innovator U.S. Equity Ultra Buffer ETF October (UOCT) at 0.95%. This indicates that XMU.TO's price experiences larger fluctuations and is considered to be riskier than UOCT 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 | UOCT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.18% | 0.95% | +1.23% |
Volatility (6M)Calculated over the trailing 6-month period | 6.86% | 4.81% | +2.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.20% | 6.47% | +2.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.15% | 7.21% | +3.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.97% | 7.77% | +6.20% |
XMU.TO vs. UOCT - Expense Ratio Comparison
XMU.TO has a 0.33% expense ratio, which is lower than UOCT's 0.79% expense ratio.
Dividends
XMU.TO vs. UOCT - Dividend Comparison
XMU.TO's dividend yield for the trailing twelve months is around 1.12%, while UOCT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UOCT Innovator U.S. Equity Ultra Buffer ETF October | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.33% | 0.00% | 0.00% | 0.00% | 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 UOCT have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XMU.TO is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XMU.TO is cheaper with a 0.33% expense ratio, compared with 0.79% for UOCT.
XMU.TO is categorized as Large Cap Blend Equities, while UOCT is Defined Outcome. XMU.TO tracks MSCI USA Minimum Volatility Index, while UOCT tracks S&P 500 Index. They also come from different issuers: iShares and Innovator. Their fees differ too: 0.33% for XMU.TO and 0.79% for UOCT.
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