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XSP.TO vs. AVDV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XSP.TO vs. AVDV

Last updated Jun 9, 2026

XSP.TO (iShares Core S&P 500 Index ETF (CAD-Hedged)) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - XSP.TO is a S&P 500 fund tracking the S&P 500 Index, while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. XSP.TO is passively managed, while AVDV is actively managed. Over the past 5 years, XSP.TO returned 11.15%/yr vs 16.56%/yr for AVDV. A 0.64 correlation means they provide meaningful diversification when combined. XSP.TO charges 0.09%/yr vs 0.36%/yr for AVDV.

Performance

XSP.TO vs. AVDV - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) and Avantis International Small Cap Value ETF (AVDV). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, XSP.TO achieves a 7.46% return, which is significantly lower than AVDV's 15.25% return.

XSP.TO

1D
0.25%
1M
0.19%
YTD
7.46%
6M
7.38%
1Y
22.08%
3Y*
19.32%
5Y*
11.15%
10Y*
13.25%

AVDV

1D
0.50%
1M
-0.95%
YTD
15.25%
6M
17.17%
1Y
42.96%
3Y*
28.41%
5Y*
16.56%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XSP.TO vs. AVDV - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XSP.TO
iShares Core S&P 500 Index ETF (CAD-Hedged)		7.46%15.68%23.39%24.33%-19.32%24.27%15.16%8.74%
AVDV
Avantis International Small Cap Value ETF		15.29%42.55%17.87%14.07%-5.86%15.74%2.51%10.39%

Correlation

The correlation between XSP.TO and AVDV is 0.60, 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

0.60

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

0.54

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

0.60

Correlation (All Time)
Calculated using the full available price history since Sep 27, 2019

0.64

The correlation between XSP.TO and AVDV has been stable across timeframes, ranging from 0.54 to 0.64 - a consistent structural relationship.

XSP.TO vs. AVDV - Sectors Allocation Comparison

Sectors
XSP.TO
AVDV

Technology

36.2%
6.4%

Financial Services

11.9%
13.7%

Communication Services

10.9%
2.0%

Consumer Cyclical

10.1%
14.4%

Healthcare

8.4%
2.1%

Industrials

8.1%
21.3%

Consumer Defensive

4.9%
3.4%

Energy

3.5%
10.8%

Utilities

2.3%
1.7%

Real Estate

1.9%
1.1%

Basic Materials

1.8%
22.5%

Technology

XSP.TO
36.2%
AVDV
6.4%

Financial Services

XSP.TO
11.9%
AVDV
13.7%

Communication Services

XSP.TO
10.9%
AVDV
2.0%

Consumer Cyclical

XSP.TO
10.1%
AVDV
14.4%

Healthcare

XSP.TO
8.4%
AVDV
2.1%

Industrials

XSP.TO
8.1%
AVDV
21.3%

Consumer Defensive

XSP.TO
4.9%
AVDV
3.4%

Energy

XSP.TO
3.5%
AVDV
10.8%

Utilities

XSP.TO
2.3%
AVDV
1.7%

Real Estate

XSP.TO
1.9%
AVDV
1.1%

Basic Materials

XSP.TO
1.8%
AVDV
22.5%

Compare stocks, funds, or ETFs

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iShares Core S&P 500 Index ETF (CAD-Hedged)

Avantis International Small Cap Value ETF

Often compared with XSP.TO:
XSP.TO vs. XUS.TOXSP.TO vs. XEQT.TOXSP.TO vs. ZSP.TOXSP.TO vs. VSP.TOXSP.TO vs. XIU.TOXSP.TO vs. VFVAXSP.TO vs. XQQ.TO
Often compared with AVDV:
AVDV vs. VXUSAVDV vs. AVDEAVDV vs. VSSAVDV vs. DISVXAVDV vs. AVDVXAVDV vs. ISVLAVDV vs. AVIV

Return for Risk

XSP.TO vs. AVDV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XSP.TO
XSP.TO Risk / Return Rank: 6060
Overall Rank
XSP.TO Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
XSP.TO Sortino Ratio Rank: 5959
Sortino Ratio Rank
XSP.TO Omega Ratio Rank: 6060
Omega Ratio Rank
XSP.TO Calmar Ratio Rank: 5353
Calmar Ratio Rank
XSP.TO Martin Ratio Rank: 6565
Martin Ratio Rank
AVDV
AVDV Risk / Return Rank: 7979
Overall Rank
AVDV Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
AVDV Sortino Ratio Rank: 8383
Sortino Ratio Rank
AVDV Omega Ratio Rank: 8484
Omega Ratio Rank
AVDV Calmar Ratio Rank: 6767
Calmar Ratio Rank
AVDV Martin Ratio Rank: 7373
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.

XSP.TO vs. AVDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) and Avantis International Small Cap Value ETF (AVDV). 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.

XSP.TOAVDVDifference
Sharpe ratioReturn per unit of total volatility
1.85
2.68

-0.83

Sortino ratioReturn per unit of downside risk
2.52
3.50

-0.99

Omega ratioGain probability vs. loss probability

1.33

1.47

-0.13

Calmar ratioReturn relative to maximum drawdown

2.36

3.37

-1.01

Martin ratioReturn relative to average drawdown

10.81

13.91

-3.10

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XSP.TO vs. AVDV - Sharpe Ratio Comparison

The current XSP.TO Sharpe Ratio is 1.85, which is lower than the AVDV Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of XSP.TO and AVDV, 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

XSP.TOAVDVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.85

2.68

-0.83

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.67

0.92

-0.25

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.73

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.49

0.79

-0.30

Drawdowns

XSP.TO vs. AVDV - Drawdown Comparison

The maximum XSP.TO drawdown since its inception was -57.71%, which is greater than AVDV's maximum drawdown of -37.43%. Use the drawdown chart below to compare losses from any high point for XSP.TO and AVDV.

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Drawdown Indicators

XSP.TOAVDVDifference

Max Drawdown

Largest peak-to-trough decline

-57.71%

-37.43%

-20.28%

Max Drawdown (1Y)

Largest decline over 1 year

-9.41%

-12.81%

+3.40%

Max Drawdown (3Y)

Largest decline over 3 years

-18.77%

-14.53%

-4.24%

Max Drawdown (5Y)

Largest decline over 5 years

-27.51%

-22.53%

-4.98%

Max Drawdown (10Y)

Largest decline over 10 years

-36.05%

—

—

Current Drawdown

Current decline from peak

-2.71%

-2.80%

+0.09%

Average Drawdown

Average peak-to-trough decline

-9.46%

-5.02%

-4.44%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.05%

3.10%

-1.05%

Volatility

XSP.TO vs. AVDV - Volatility Comparison

The current volatility for iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) is 4.07%, while Avantis International Small Cap Value ETF (AVDV) has a volatility of 5.70%. This indicates that XSP.TO experiences smaller price fluctuations and is considered to be less risky than AVDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XSP.TOAVDVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.07%

5.70%

-1.63%

Volatility (6M)

Calculated over the trailing 6-month period

9.40%

13.84%

-4.44%

Volatility (1Y)

Calculated over the trailing 1-year period

12.04%

16.16%

-4.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.85%

18.19%

-1.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.24%

20.44%

-2.20%

XSP.TO vs. AVDV - Expense Ratio Comparison

XSP.TO has a 0.09% expense ratio, which is lower than AVDV's 0.36% expense ratio.

Dividends

XSP.TO vs. AVDV - Dividend Comparison

XSP.TO's dividend yield for the trailing twelve months is around 1.14%, less than AVDV's 2.81% yield.

PositionTTM20252024202320222021202020192018201720162015
AVDV
Avantis International Small Cap Value ETF		2.81%3.05%4.31%3.29%3.17%2.39%1.67%0.36%0.00%0.00%0.00%0.00%
XSP.TO
iShares Core S&P 500 Index ETF (CAD-Hedged)		1.14%1.23%1.09%1.18%1.37%1.01%1.31%1.73%1.86%1.45%1.76%1.88%

Frequently Asked Questions

XSP.TO and AVDV have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XSP.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XSP.TO is cheaper with a 0.09% expense ratio, compared with 0.36% for AVDV.

XSP.TO is categorized as S&P 500, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: iShares and Avantis. Their fees differ too: 0.09% for XSP.TO and 0.36% for AVDV.

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