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 13.14%/yr vs 0.00%/yr for CADUSD=X. At a 0.01 correlation, their price movements are largely independent.
Performance
XSP.TO vs. CADUSD=X - Performance Comparison
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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 9.73% return, which is significantly higher than CADUSD=X's 0.01% return.
XSP.TO
- 1D
- 0.34%
- 1M
- 0.15%
- 6M
- 8.50%
- YTD
- 9.73%
- 1Y
- 19.88%
- 3Y*
- 18.35%
- 5Y*
- 11.02%
- 10Y*
- 13.14%
CADUSD=X
- 1D
- 0.01%
- 1M
- 0.01%
- 6M
- 0.01%
- YTD
- 0.01%
- 1Y
- 0.01%
- 3Y*
- 0.00%
- 5Y*
- 0.00%
- 10Y*
- 0.00%
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) | 9.73% | 15.68% | 23.39% | 24.33% | -19.32% | 24.27% | 15.16% | 29.37% | -6.25% | 20.69% |
CADUSD=X CAD/USD | 0.01% | -0.00% | 0.00% | 0.00% | -0.00% | -0.00% | -0.00% | 0.00% | 0.00% | 0.00% |
Correlation
The correlation between XSP.TO and CADUSD=X is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Aug 14, 2006 | 0.01 |
The correlation between XSP.TO and CADUSD=X shifts across timeframes, from -0.01 (10 years) to 0.11 (1 year), reflecting how their relationship changes across market environments.
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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.
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.
| XSP.TO | CADUSD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | -313.76 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 36.07 | -34.78 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 1,351.50 | -1,349.37 |
| Martin ratioReturn relative to average drawdown | 9.19 | 2,436.60 | -2,427.41 |
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Drawdowns
XSP.TO vs. CADUSD=X - Drawdown Comparison
The maximum XSP.TO drawdown since its inception was -57.71%, which is greater than CADUSD=X's maximum drawdown of -0.00%. Use the drawdown chart below to compare losses from any high point for XSP.TO and CADUSD=X.
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Drawdown Indicators
| XSP.TO | CADUSD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.71% | -0.00% | -57.71% |
Max Drawdown (1Y)Largest decline over 1 year | -9.41% | -0.00% | -9.41% |
Max Drawdown (3Y)Largest decline over 3 years | -18.77% | -0.00% | -18.77% |
Max Drawdown (5Y)Largest decline over 5 years | -27.51% | -0.00% | -27.51% |
Max Drawdown (10Y)Largest decline over 10 years | -36.05% | -0.00% | -36.05% |
Current DrawdownCurrent decline from peak | -0.65% | 0.00% | -0.65% |
Average DrawdownAverage peak-to-trough decline | -9.47% | -0.00% | -9.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.17% | 0.00% | +2.17% |
Volatility
XSP.TO vs. CADUSD=X - Volatility Comparison
iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) has a higher volatility of 3.28% compared to CAD/USD (CADUSD=X) at 0.01%. 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.
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Volatility by Period
| XSP.TO | CADUSD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.28% | 0.01% | +3.27% |
Volatility (6M)Calculated over the trailing 6-month period | 9.96% | 0.01% | +9.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.44% | 0.01% | +12.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.90% | 0.01% | +16.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.20% | 0.00% | +18.20% |
Frequently Asked Questions
XSP.TO and CADUSD=X have a correlation of 0.11, 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
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