XSP.TO vs. CADUSD=X
XSP.TO (iShares Core S&P 500 Index ETF (CAD-Hedged)) is S&P 500 fund tracking the S&P 500 Index, while CADUSD=X (CAD/USD) is a currency. Over the past 10 years, XSP.TO returned 13.78%/yr vs 0.01%/yr for CADUSD=X. At a correlation of -0.08, they often move in opposite directions.
Performance
XSP.TO vs. CADUSD=X - Performance Comparison
Loading charts...
Different Trading Currencies
XSP.TO is traded in CAD, while CADUSD=X is traded in USD. To make them comparable, the CADUSD=X 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 10.07% return, which is significantly higher than CADUSD=X's 0.08% return. Over the past 10 years, XSP.TO has outperformed CADUSD=X with an annualized return of 13.78%, while CADUSD=X has yielded a comparatively lower 0.01% annualized return.
XSP.TO
- 1D
- 0.39%
- 1M
- 4.54%
- YTD
- 10.07%
- 6M
- 9.82%
- 1Y
- 25.62%
- 3Y*
- 20.50%
- 5Y*
- 12.27%
- 10Y*
- 13.78%
CADUSD=X
- 1D
- 0.02%
- 1M
- 0.02%
- YTD
- 0.08%
- 6M
- 0.06%
- 1Y
- -0.01%
- 3Y*
- 0.01%
- 5Y*
- 0.03%
- 10Y*
- 0.01%
XSP.TO vs. CADUSD=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSP.TO iShares Core S&P 500 Index ETF (CAD-Hedged) | 10.07% | 15.68% | 23.39% | 24.33% | -19.32% | 27.85% | 15.17% | 29.35% | -6.26% | 20.71% |
CADUSD=X CAD/USD | 0.08% | -0.01% | 0.01% | 0.02% | -0.04% | -0.17% | 0.28% | -0.17% | 0.06% | 0.10% |
Correlation
The correlation between XSP.TO and CADUSD=X is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2009 | -0.08 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XSP.TO vs. CADUSD=X — Risk / Return Rank
XSP.TO
CADUSD=X
XSP.TO vs. CADUSD=X - 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 CAD/USD (CADUSD=X). 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.TO | CADUSD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.20 | ||
| Sortino ratioReturn per unit of downside risk | +3.02 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.00 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | -0.03 | +2.76 |
| Martin ratioReturn relative to average drawdown | 12.64 | -0.04 | +12.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| XSP.TO | CADUSD=X | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.19 | -0.01 | +2.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | 0.03 | +0.71 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.76 | 0.00 | +0.76 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.00 | +0.37 |
Drawdowns
XSP.TO vs. CADUSD=X - Drawdown Comparison
The maximum XSP.TO drawdown since its inception was -57.82%, which is greater than CADUSD=X's maximum drawdown of -11.57%. Use the drawdown chart below to compare losses from any high point for XSP.TO and CADUSD=X.
Loading charts...
Drawdown Indicators
| XSP.TO | CADUSD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.82% | -11.57% | -46.25% |
Max Drawdown (1Y)Largest decline over 1 year | -9.41% | -0.27% | -9.14% |
Max Drawdown (3Y)Largest decline over 3 years | -18.77% | -0.40% | -18.37% |
Max Drawdown (5Y)Largest decline over 5 years | -25.44% | -0.40% | -25.04% |
Max Drawdown (10Y)Largest decline over 10 years | -36.05% | -3.43% | -32.62% |
Current DrawdownCurrent decline from peak | -0.34% | -1.06% | +0.72% |
Average DrawdownAverage peak-to-trough decline | -12.11% | -1.11% | -11.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 0.19% | +1.84% |
Volatility
XSP.TO vs. CADUSD=X - Volatility Comparison
iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) has a higher volatility of 3.20% compared to CAD/USD (CADUSD=X) at 0.25%. This indicates that XSP.TO's price experiences larger fluctuations and is considered to be riskier than CADUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XSP.TO | CADUSD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.20% | 0.25% | +2.95% |
Volatility (6M)Calculated over the trailing 6-month period | 8.99% | 0.52% | +8.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.75% | 0.83% | +10.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.74% | 0.83% | +15.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.19% | 1.81% | +16.38% |
Frequently Asked Questions
XSP.TO and CADUSD=X have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for XSP.TO and CADUSD=X
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer