XSMC.TO vs. ^GSPC
XSMC.TO (iShares S&P U.S. Small-Cap Index ETF) is Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index, while ^GSPC (S&P 500 Index) is an index. Over the past 5 years, XSMC.TO returned 10.13%/yr vs 14.32%/yr for ^GSPC. A 0.55 correlation means they provide meaningful diversification when combined.
Performance
XSMC.TO vs. ^GSPC - Performance Comparison
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Different Trading Currencies
XSMC.TO is traded in CAD, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XSMC.TO achieves a 24.78% return, which is significantly higher than ^GSPC's 13.47% return.
XSMC.TO
- 1D
- 0.37%
- 1M
- 2.48%
- 6M
- 16.58%
- YTD
- 24.78%
- 1Y
- 36.16%
- 3Y*
- 16.64%
- 5Y*
- 10.13%
- 10Y*
- —
^GSPC
- 1D
- -0.34%
- 1M
- 0.84%
- 6M
- 10.59%
- YTD
- 13.47%
- 1Y
- 24.32%
- 3Y*
- 21.66%
- 5Y*
- 14.32%
- 10Y*
- 14.32%
XSMC.TO vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XSMC.TO iShares S&P U.S. Small-Cap Index ETF | 24.78% | 0.80% | 17.06% | 13.25% | -10.56% | 25.11% | 8.66% | 4.03% |
^GSPC S&P 500 Index | 13.50% | 11.07% | 33.75% | 21.28% | -14.34% | 26.83% | 13.50% | 6.96% |
Correlation
The correlation between XSMC.TO and ^GSPC is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2019 | 0.55 |
The correlation between XSMC.TO and ^GSPC has been stable across timeframes, ranging from 0.55 to 0.61 - a consistent structural relationship.
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Return for Risk
XSMC.TO vs. ^GSPC — Risk / Return Rank
XSMC.TO
^GSPC
XSMC.TO vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P U.S. Small-Cap Index ETF (XSMC.TO) and S&P 500 Index (^GSPC). 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.
| XSMC.TO | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.33 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.28 | 2.66 | +1.62 |
| Martin ratioReturn relative to average drawdown | 15.13 | 9.86 | +5.27 |
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Drawdowns
XSMC.TO vs. ^GSPC - Drawdown Comparison
The maximum XSMC.TO drawdown since its inception was -37.30%, smaller than the maximum ^GSPC drawdown of -48.87%. Use the drawdown chart below to compare losses from any high point for XSMC.TO and ^GSPC.
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Drawdown Indicators
| XSMC.TO | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.30% | -48.87% | +11.57% |
Max Drawdown (1Y)Largest decline over 1 year | -8.48% | -9.17% | +0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -27.05% | -19.59% | -7.46% |
Max Drawdown (5Y)Largest decline over 5 years | -27.05% | -23.14% | -3.91% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.97% | — |
Current DrawdownCurrent decline from peak | -3.23% | -0.85% | -2.38% |
Average DrawdownAverage peak-to-trough decline | -7.97% | -9.63% | +1.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.40% | 2.47% | -0.07% |
Volatility
XSMC.TO vs. ^GSPC - Volatility Comparison
iShares S&P U.S. Small-Cap Index ETF (XSMC.TO) has a higher volatility of 5.12% compared to S&P 500 Index (^GSPC) at 3.80%. This indicates that XSMC.TO's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSMC.TO | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.12% | 3.80% | +1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 12.37% | 10.36% | +2.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.93% | 12.89% | +5.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.67% | 17.94% | +1.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.24% | 19.12% | +4.12% |
Frequently Asked Questions
XSMC.TO and ^GSPC have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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