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

XSP.TO vs. GOOGL

Last updated Jun 14, 2026

XSP.TO (iShares Core S&P 500 Index ETF (CAD-Hedged)) is S&P 500 fund tracking the S&P 500 Index, while GOOGL (Alphabet Inc. Class A) is a stock. Over the past 10 years, XSP.TO returned 13.40%/yr vs 26.84%/yr for GOOGL. A 0.56 correlation means they provide meaningful diversification when combined.

Performance

XSP.TO vs. GOOGL - 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 Alphabet Inc. Class A (GOOGL). 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 GOOGL is traded in USD. To make them comparable, the GOOGL 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 7.74% return, which is significantly lower than GOOGL's 17.40% return. Over the past 10 years, XSP.TO has underperformed GOOGL with an annualized return of 13.40%, while GOOGL has yielded a comparatively higher 26.84% annualized return.

XSP.TO

1D
0.50%
1M
-1.00%
YTD
7.74%
6M
7.98%
1Y
23.01%
3Y*
18.82%
5Y*
11.07%
10Y*
13.40%

GOOGL

1D
0.72%
1M
-7.65%
YTD
17.40%
6M
18.11%
1Y
112.22%
3Y*
45.24%
5Y*
28.11%
10Y*
26.84%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XSP.TO vs. GOOGL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XSP.TO
iShares Core S&P 500 Index ETF (CAD-Hedged)		7.74%15.68%23.39%24.33%-19.32%24.27%15.16%29.37%-6.25%20.69%
GOOGL
Alphabet Inc. Class A		17.40%58.42%47.52%54.56%-35.23%65.21%27.75%22.89%7.54%23.93%

Correlation

The correlation between XSP.TO and GOOGL is 0.52, 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

0.52

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

0.53

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

0.63

Correlation (10Y)
Calculated over the trailing 10-year period

0.62

Correlation (All Time)
Calculated using the full available price history since Jul 12, 2006

0.56

The correlation between XSP.TO and GOOGL shifts across timeframes, from 0.52 (1 year) to 0.63 (5 years), reflecting how their relationship changes across market environments.

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

Alphabet Inc. Class A

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. XQQ.TOXSP.TO vs. VFVA
Often compared with GOOGL:
GOOGL vs. GOOGGOOGL vs. MSFTGOOGL vs. AAPLGOOGL vs. VOOGOOGL vs. SPYGOOGL vs. VGTGOOGL vs. AMZN

Return for Risk

XSP.TO vs. GOOGL — 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: 5252
Calmar Ratio Rank
XSP.TO Martin Ratio Rank: 6565
Martin Ratio Rank
GOOGL
GOOGL Risk / Return Rank: 9696
Overall Rank
GOOGL Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
GOOGL Sortino Ratio Rank: 9898
Sortino Ratio Rank
GOOGL Omega Ratio Rank: 9696
Omega Ratio Rank
GOOGL Calmar Ratio Rank: 9393
Calmar Ratio Rank
GOOGL Martin Ratio Rank: 9595
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. GOOGL - 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 Alphabet Inc. Class A (GOOGL). 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.TOGOOGLDifference
Sharpe ratioReturn per unit of total volatility
1.77
3.78

-2.01

Sortino ratioReturn per unit of downside risk
2.42
5.06

-2.64

Omega ratioGain probability vs. loss probability

1.32

1.61

-0.29

Calmar ratioReturn relative to maximum drawdown

2.30

5.86

-3.56

Martin ratioReturn relative to average drawdown

10.35

19.93

-9.58

XSP.TO vs. GOOGL - Sharpe Ratio Comparison

The current XSP.TO Sharpe Ratio is 1.77, which is lower than the GOOGL Sharpe Ratio of 3.78. The chart below compares the historical Sharpe Ratios of XSP.TO and GOOGL, 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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Drawdowns

XSP.TO vs. GOOGL - Drawdown Comparison

The maximum XSP.TO drawdown since its inception was -57.71%, roughly equal to the maximum GOOGL drawdown of -56.06%. Use the drawdown chart below to compare losses from any high point for XSP.TO and GOOGL.

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Drawdown Indicators

XSP.TOGOOGLDifference

Max Drawdown

Largest peak-to-trough decline

-57.71%

-56.06%

-1.65%

Max Drawdown (1Y)

Largest decline over 1 year

-9.41%

-18.86%

+9.45%

Max Drawdown (3Y)

Largest decline over 3 years

-18.77%

-31.02%

+12.25%

Max Drawdown (5Y)

Largest decline over 5 years

-27.51%

-39.63%

+12.12%

Max Drawdown (10Y)

Largest decline over 10 years

-36.05%

-39.63%

+3.58%

Current Drawdown

Current decline from peak

-2.45%

-8.82%

+6.37%

Average Drawdown

Average peak-to-trough decline

-9.46%

-11.98%

+2.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.09%

5.54%

-3.45%

Volatility

XSP.TO vs. GOOGL - Volatility Comparison

The current volatility for iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) is 4.61%, while Alphabet Inc. Class A (GOOGL) has a volatility of 7.59%. This indicates that XSP.TO experiences smaller price fluctuations and is considered to be less risky than GOOGL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XSP.TOGOOGLDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.61%

7.59%

-2.98%

Volatility (6M)

Calculated over the trailing 6-month period

9.66%

20.92%

-11.26%

Volatility (1Y)

Calculated over the trailing 1-year period

12.22%

29.27%

-17.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.87%

31.92%

-15.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.24%

29.84%

-11.60%

Dividends

XSP.TO vs. GOOGL - Dividend Comparison

XSP.TO's dividend yield for the trailing twelve months is around 1.14%, more than GOOGL's 0.24% yield.

PositionTTM20252024202320222021202020192018201720162015
GOOGL
Alphabet Inc. Class A		0.24%0.27%0.32%0.00%0.00%0.00%0.00%0.00%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 GOOGL have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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