XSP.TO vs. T.TO

Last updated Jun 9, 2026

XSP.TO (iShares Core S&P 500 Index ETF (CAD-Hedged)) is S&P 500 fund tracking the S&P 500 Index, while T.TO (TELUS Corporation) is a stock. Over the past 10 years, XSP.TO returned 13.25%/yr vs 12.82%/yr for T.TO. At a 0.29 correlation, their price movements are largely independent.

Performance

XSP.TO vs. T.TO - 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 TELUS Corporation (T.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XSP.TO achieves a 7.46% return, which is significantly higher than T.TO's -3.87% return. Both investments have delivered pretty close results over the past 10 years, with XSP.TO having a 13.25% annualized return and T.TO not far behind at 12.82%.

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%

T.TO

• 1D: -1.05%
• 1M: -2.63%
• YTD: -3.87%
• 6M: -4.00%
• 1Y: -17.45%
• 3Y*: -6.39%
• 5Y*: -3.68%
• 10Y*: 12.82%

*Multi-year figures are annualized to reflect compound growth (CAGR)

XSP.TO vs. T.TO - 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)	7.46%	15.68%	23.39%	24.33%	-19.32%	24.27%	15.16%	29.37%	-6.25%	20.69%
T.TO TELUS Corporation	-3.87%	0.34%	-11.50%	-4.41%	-8.27%	23.58%	113.11%	21.76%	3.92%	21.55%

Correlation

The correlation between XSP.TO and T.TO is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jul 7, 2006	0.29

Over the past year, the correlation between XSP.TO and T.TO has dropped to 0.04 - well below their long-term average of 0.29, suggesting their price drivers have been diverging.

Return for Risk

XSP.TO vs. T.TO — 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: 60
XSP.TO Sharpe Ratio Rank: 61
XSP.TO Sortino Ratio Rank: 59
XSP.TO Omega Ratio Rank: 60
XSP.TO Calmar Ratio Rank: 53
XSP.TO Martin Ratio Rank: 65

T.TO

T.TO Risk / Return Rank: 10
T.TO Sharpe Ratio Rank: 4
T.TO Sortino Ratio Rank: 8
T.TO Omega Ratio Rank: 7
T.TO Calmar Ratio Rank: 16
T.TO Martin Ratio Rank: 13

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. T.TO - 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 TELUS Corporation (T.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.

	XSP.TO	T.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.85	-1.04	+2.89
Sortino ratio: Return per unit of downside risk	2.52	-1.29	+3.81
Omega ratio: Gain probability vs. loss probability	1.33	0.82	+0.51
Calmar ratio: Return relative to maximum drawdown	2.36	-0.71	+3.07
Martin ratio: Return relative to average drawdown	10.81	-1.27	+12.08
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. T.TO - Sharpe Ratio Comparison

The current XSP.TO Sharpe Ratio is 1.85, which is higher than the T.TO Sharpe Ratio of -1.04. The chart below compares the historical Sharpe Ratios of XSP.TO and T.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.

Sharpe Ratios by Period

	XSP.TO	T.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.85	-1.04	+2.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	-0.23	+0.89
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.38	+0.35
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.61	-0.12

Drawdowns

XSP.TO vs. T.TO - Drawdown Comparison

The maximum XSP.TO drawdown since its inception was -57.71%, which is greater than T.TO's maximum drawdown of -39.72%. Use the drawdown chart below to compare losses from any high point for XSP.TO and T.TO.

Drawdown Indicators

	XSP.TO	T.TO	Difference
Max Drawdown Largest peak-to-trough decline	-57.71%	-39.72%	-17.99%
Max Drawdown (1Y) Largest decline over 1 year	-9.41%	-24.59%	+15.18%
Max Drawdown (3Y) Largest decline over 3 years	-18.77%	-24.59%	+5.82%
Max Drawdown (5Y) Largest decline over 5 years	-27.51%	-38.60%	+11.09%
Max Drawdown (10Y) Largest decline over 10 years	-36.05%	-38.60%	+2.55%
Current Drawdown Current decline from peak	-2.71%	-35.84%	+33.13%
Average Drawdown Average peak-to-trough decline	-9.46%	-10.12%	+0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	13.81%	-11.76%

Volatility

XSP.TO vs. T.TO - Volatility Comparison

iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) and TELUS Corporation (T.TO) have volatilities of 4.07% and 3.97%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSP.TO	T.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	3.97%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	9.40%	13.40%	-4.00%
Volatility (1Y) Calculated over the trailing 1-year period	12.04%	16.82%	-4.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.85%	16.45%	+0.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.24%	33.58%	-15.34%

Dividends

XSP.TO vs. T.TO - Dividend Comparison

XSP.TO's dividend yield for the trailing twelve months is around 1.14%, less than T.TO's 9.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
T.TO TELUS Corporation	9.82%	9.14%	7.99%	6.17%	5.19%	4.27%	4.70%	8.96%	9.28%	8.27%	8.61%	8.78%
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

Can I hold both XSP.TO and T.TO in my portfolio?

XSP.TO and T.TO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.