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

XSMC.TO vs. XMTM.TO

Last updated Jun 4, 2026

XSMC.TO (iShares S&P U.S. Small-Cap Index ETF) and XMTM.TO (iShares MSCI USA Momentum Factor Index ETF) are both exchange-traded funds - XSMC.TO is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index, while XMTM.TO is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. Both are passively managed. Over the past 5 years, XSMC.TO returned 8.32%/yr vs 17.92%/yr for XMTM.TO. At a 0.34 correlation, their price movements are largely independent. XSMC.TO charges 0.22%/yr vs 0.31%/yr for XMTM.TO.

Performance

XSMC.TO vs. XMTM.TO - 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 iShares MSCI USA Momentum Factor Index ETF (XMTM.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, XSMC.TO achieves a 16.67% return, which is significantly lower than XMTM.TO's 33.39% return.

XSMC.TO

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

XMTM.TO

1D
4.00%
1M
19.00%
YTD
33.39%
6M
29.32%
1Y
40.58%
3Y*
35.55%
5Y*
17.92%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022202120202019
XSMC.TO
iShares S&P U.S. Small-Cap Index ETF		16.67%0.80%17.06%13.24%-10.56%25.12%8.66%2.62%
XMTM.TO
iShares MSCI USA Momentum Factor Index ETF		33.39%14.02%43.59%6.48%-14.53%15.01%25.77%3.42%

Correlation

The correlation between XSMC.TO and XMTM.TO is 0.54, 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

0.54

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

0.44

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

0.38

Correlation (All Time)
Calculated using the full available price history since Sep 18, 2019

0.34

Over the past year, XSMC.TO and XMTM.TO have become more correlated (0.54) than their long-term average of 0.34, meaning their price movements have been converging.

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

Sectors
XSMC.TO
XMTM.TO

Financial Services

16.4%
10.5%

Industrials

16.1%
15.3%

Technology

16.0%
44.7%

Consumer Cyclical

12.9%
3.7%

Healthcare

10.8%
7.0%

Real Estate

7.4%
1.8%

Energy

7.0%
3.6%

Basic Materials

4.6%
1.7%

Consumer Defensive

3.4%
3.3%

Communication Services

3.2%
7.0%

Utilities

1.8%
1.6%

Financial Services

XSMC.TO
16.4%
XMTM.TO
10.5%

Industrials

XSMC.TO
16.1%
XMTM.TO
15.3%

Technology

XSMC.TO
16.0%
XMTM.TO
44.7%

Consumer Cyclical

XSMC.TO
12.9%
XMTM.TO
3.7%

Healthcare

XSMC.TO
10.8%
XMTM.TO
7.0%

Real Estate

XSMC.TO
7.4%
XMTM.TO
1.8%

Energy

XSMC.TO
7.0%
XMTM.TO
3.6%

Basic Materials

XSMC.TO
4.6%
XMTM.TO
1.7%

Consumer Defensive

XSMC.TO
3.4%
XMTM.TO
3.3%

Communication Services

XSMC.TO
3.2%
XMTM.TO
7.0%

Utilities

XSMC.TO
1.8%
XMTM.TO
1.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares S&P U.S. Small-Cap Index ETF

iShares MSCI USA Momentum Factor Index ETF

Often compared with XSMC.TO:
XSMC.TO vs. XMC.TOXSMC.TO vs. XSU.TOXSMC.TO vs. XVLU.TOXSMC.TO vs. XSMH.TOXSMC.TO vs. XUS.TOXSMC.TO vs. TTWOXSMC.TO vs. XDIV.TO
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

Return for Risk

XSMC.TO vs. XMTM.TO — 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: 6262
Overall Rank
XSMC.TO Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
XSMC.TO Sortino Ratio Rank: 5757
Sortino Ratio Rank
XSMC.TO Omega Ratio Rank: 5050
Omega Ratio Rank
XSMC.TO Calmar Ratio Rank: 7777
Calmar Ratio Rank
XSMC.TO Martin Ratio Rank: 7373
Martin Ratio Rank
XMTM.TO
XMTM.TO Risk / Return Rank: 6565
Overall Rank
XMTM.TO Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
XMTM.TO Sortino Ratio Rank: 6666
Sortino Ratio Rank
XMTM.TO Omega Ratio Rank: 6464
Omega Ratio Rank
XMTM.TO Calmar Ratio Rank: 7171
Calmar Ratio Rank
XMTM.TO Martin Ratio Rank: 5858
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.

XSMC.TO vs. XMTM.TO - 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 iShares MSCI USA Momentum Factor Index ETF (XMTM.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.

XSMC.TOXMTM.TODifference

Sharpe ratio

Return per unit of total volatility

1.84

2.20

-0.36

Sortino ratio

Return per unit of downside risk

2.73

3.07

-0.34

Omega ratio

Gain probability vs. loss probability

1.32

1.39

-0.08

Calmar ratio

Return relative to maximum drawdown

3.86

3.57

+0.29

Martin ratio

Return relative to average drawdown

13.56

10.21

+3.35

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. XMTM.TO - Sharpe Ratio Comparison

The current XSMC.TO Sharpe Ratio is 1.84, which is comparable to the XMTM.TO Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of XSMC.TO and XMTM.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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Sharpe Ratios by Period

XSMC.TOXMTM.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.84

2.20

-0.36

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.43

0.96

-0.53

Sharpe Ratio (All Time)

Calculated using the full available price history

0.46

0.88

-0.43

Drawdowns

XSMC.TO vs. XMTM.TO - Drawdown Comparison

The maximum XSMC.TO drawdown since its inception was -37.30%, which is greater than XMTM.TO's maximum drawdown of -29.01%. Use the drawdown chart below to compare losses from any high point for XSMC.TO and XMTM.TO.

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Drawdown Indicators

XSMC.TOXMTM.TODifference

Max Drawdown

Largest peak-to-trough decline

-37.30%

-29.01%

-8.29%

Max Drawdown (1Y)

Largest decline over 1 year

-8.48%

-11.42%

+2.94%

Max Drawdown (3Y)

Largest decline over 3 years

-27.05%

-20.64%

-6.41%

Max Drawdown (5Y)

Largest decline over 5 years

-27.05%

-29.01%

+1.96%

Current Drawdown

Current decline from peak

-0.44%

0.00%

-0.44%

Average Drawdown

Average peak-to-trough decline

-8.09%

-7.96%

-0.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.41%

3.99%

-1.58%

Volatility

XSMC.TO vs. XMTM.TO - Volatility Comparison

The current volatility for iShares S&P U.S. Small-Cap Index ETF (XSMC.TO) is 4.12%, while iShares MSCI USA Momentum Factor Index ETF (XMTM.TO) has a volatility of 7.86%. This indicates that XSMC.TO experiences smaller price fluctuations and is considered to be less risky than XMTM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XSMC.TOXMTM.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.12%

7.86%

-3.74%

Volatility (6M)

Calculated over the trailing 6-month period

11.75%

16.02%

-4.27%

Volatility (1Y)

Calculated over the trailing 1-year period

17.89%

18.57%

-0.68%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.58%

18.79%

+0.79%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.30%

20.07%

+3.23%

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

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

Dividends

XSMC.TO vs. XMTM.TO - Dividend Comparison

XSMC.TO's dividend yield for the trailing twelve months is around 0.99%, more than XMTM.TO's 0.46% yield.

PositionTTM2025202420232022202120202019
XMTM.TO
iShares MSCI USA Momentum Factor Index ETF		0.46%0.70%0.62%0.84%1.66%0.33%0.64%1.24%
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

XSMC.TO and XMTM.TO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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.

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

XSMC.TO is categorized as Small Cap Blend Equities, while XMTM.TO is Momentum. XSMC.TO tracks S&P SmallCap 600 Index, while XMTM.TO tracks MSCI USA Momentum SR Variant Index. Their fees differ too: 0.22% for XSMC.TO and 0.31% for XMTM.TO.

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