XSMC.TO vs. DFSV

Last updated Jun 4, 2026

XSMC.TO (iShares S&P U.S. Small-Cap Index ETF) and DFSV (Dimensional US Small Cap Value ETF) are both exchange-traded funds - XSMC.TO is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index, while DFSV is a Small Cap Value Equities fund actively managed by Dimensional. XSMC.TO is passively managed, while DFSV is actively managed. Over the past 3 years, XSMC.TO returned 15.37%/yr vs 18.23%/yr for DFSV. Their correlation of 0.89 suggests significant overlap in exposure. XSMC.TO charges 0.22%/yr vs 0.31%/yr for DFSV.

Performance

XSMC.TO vs. DFSV - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P U.S. Small-Cap Index ETF (XSMC.TO) and Dimensional US Small Cap Value ETF (DFSV). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both stocks are quite close, with XSMC.TO having a 16.67% return and DFSV slightly lower at 16.47%.

XSMC.TO

• 1D: -0.44%
• 1M: 3.55%
• YTD: 16.67%
• 6M: 13.55%
• 1Y: 32.62%
• 3Y*: 15.37%
• 5Y*: 8.32%
• 10Y*: —

DFSV

• 1D: -0.43%
• 1M: 3.34%
• YTD: 16.47%
• 6M: 14.19%
• 1Y: 35.72%
• 3Y*: 18.23%
• 5Y*: —
• 10Y*: —

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

XSMC.TO vs. DFSV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XSMC.TO iShares S&P U.S. Small-Cap Index ETF	16.67%	0.80%	17.06%	13.24%	-3.52%
DFSV Dimensional US Small Cap Value ETF	16.47%	3.61%	16.34%	16.63%	6.33%

Correlation

The correlation between XSMC.TO and DFSV is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (All Time) Calculated using the full available price history since Feb 25, 2022	0.89

The correlation between XSMC.TO and DFSV has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

XSMC.TO vs. DFSV - Sectors Allocation Comparison

Sectors	XSMC.TO	DFSV
Financial Services	16.4%	27.5%
Industrials	16.1%	15.1%
Technology	16.0%	8.1%
Consumer Cyclical	12.9%	13.5%
Healthcare	10.8%	6.9%
Real Estate	7.4%	0.9%
Energy	7.0%	13.6%
Basic Materials	4.6%	5.4%
Consumer Defensive	3.4%	5.8%
Communication Services	3.2%	2.6%
Utilities	1.8%	0.6%

Return for Risk

XSMC.TO vs. DFSV — Risk / Return Rank

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

XSMC.TO

XSMC.TO Risk / Return Rank: 62
XSMC.TO Sharpe Ratio Rank: 54
XSMC.TO Sortino Ratio Rank: 57
XSMC.TO Omega Ratio Rank: 50
XSMC.TO Calmar Ratio Rank: 77
XSMC.TO Martin Ratio Rank: 73

DFSV

DFSV Risk / Return Rank: 61
DFSV Sharpe Ratio Rank: 56
DFSV Sortino Ratio Rank: 59
DFSV Omega Ratio Rank: 55
DFSV Calmar Ratio Rank: 72
DFSV Martin Ratio Rank: 63

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.

XSMC.TO vs. DFSV - 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 Dimensional US Small Cap Value ETF (DFSV). 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.

	XSMC.TO	DFSV	Difference
Sharpe ratio Return per unit of total volatility	1.84	2.07	-0.23
Sortino ratio Return per unit of downside risk	2.73	2.95	-0.22
Omega ratio Gain probability vs. loss probability	1.32	1.36	-0.04
Calmar ratio Return relative to maximum drawdown	3.86	4.05	-0.18
Martin ratio Return relative to average drawdown	13.56	14.16	-0.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XSMC.TO vs. DFSV - Sharpe Ratio Comparison

The current XSMC.TO Sharpe Ratio is 1.84, which is comparable to the DFSV Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of XSMC.TO and DFSV, 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

	XSMC.TO	DFSV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	2.07	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.69	-0.23

Drawdowns

XSMC.TO vs. DFSV - Drawdown Comparison

The maximum XSMC.TO drawdown since its inception was -37.30%, which is greater than DFSV's maximum drawdown of -26.59%. Use the drawdown chart below to compare losses from any high point for XSMC.TO and DFSV.

Drawdown Indicators

	XSMC.TO	DFSV	Difference
Max Drawdown Largest peak-to-trough decline	-37.30%	-26.59%	-10.71%
Max Drawdown (1Y) Largest decline over 1 year	-8.48%	-8.87%	+0.39%
Max Drawdown (3Y) Largest decline over 3 years	-27.05%	-26.59%	-0.46%
Max Drawdown (5Y) Largest decline over 5 years	-27.05%	—	—
Current Drawdown Current decline from peak	-0.44%	-0.43%	-0.01%
Average Drawdown Average peak-to-trough decline	-8.09%	-5.84%	-2.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.41%	2.53%	-0.12%

Volatility

XSMC.TO vs. DFSV - Volatility Comparison

iShares S&P U.S. Small-Cap Index ETF (XSMC.TO) and Dimensional US Small Cap Value ETF (DFSV) have volatilities of 4.12% and 3.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSMC.TO	DFSV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.12%	3.95%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	11.75%	11.54%	+0.21%
Volatility (1Y) Calculated over the trailing 1-year period	17.89%	17.46%	+0.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.58%	20.18%	-0.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.30%	20.18%	+3.12%

XSMC.TO vs. DFSV - Expense Ratio Comparison

XSMC.TO has a 0.22% expense ratio, which is lower than DFSV's 0.31% expense ratio.

Dividends

XSMC.TO vs. DFSV - Dividend Comparison

XSMC.TO's dividend yield for the trailing twelve months is around 0.99%, less than DFSV's 1.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
DFSV Dimensional US Small Cap Value ETF	1.42%	1.53%	1.31%	1.29%	0.90%	0.00%	0.00%	0.00%
XSMC.TO iShares S&P U.S. Small-Cap Index ETF	0.99%	1.16%	1.74%	1.00%	1.09%	1.19%	0.78%	0.60%

Frequently Asked Questions

Can I hold both XSMC.TO and DFSV in my portfolio?

XSMC.TO and DFSV have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XSMC.TO or DFSV?

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

Which ETF is cheaper, XSMC.TO or DFSV?

XSMC.TO is cheaper with a 0.22% expense ratio, compared with 0.31% for DFSV.

What is the main difference between XSMC.TO and DFSV?

XSMC.TO is categorized as Small Cap Blend Equities, while DFSV is Small Cap Value Equities. They also come from different issuers: iShares and Dimensional. Their fees differ too: 0.22% for XSMC.TO and 0.31% for DFSV.