XSP.TO vs. VFVA

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) and Vanguard U.S. Value Factor ETF (VFVA).

XSP.TO and VFVA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XSP.TO is a passively managed fund by iShares that tracks the performance of the S&P 500 Index. It was launched on May 24, 2001. VFVA is an actively managed fund by Vanguard. It was launched on Feb 13, 2018.

Performance

XSP.TO vs. VFVA - 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 Vanguard U.S. Value Factor ETF (VFVA). The values are adjusted to include any dividend payments, if applicable.

XSP.TO vs. VFVA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
XSP.TO iShares Core S&P 500 Index ETF (CAD-Hedged)	-4.98%	15.68%	23.39%	24.33%	-19.32%	27.85%	15.17%	29.35%	-8.02%
VFVA Vanguard U.S. Value Factor ETF	3.28%	9.51%	16.92%	14.78%	2.88%	35.70%	0.55%	19.26%	-7.72%

Different Trading Currencies

XSP.TO is traded in CAD, while VFVA is traded in USD. To make them comparable, the VFVA 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 -4.98% return, which is significantly lower than VFVA's 3.28% return.

XSP.TO

• 1D: 2.96%
• 1M: -5.30%
• YTD: -4.98%
• 6M: -2.94%
• 1Y: 15.25%
• 3Y*: 16.38%
• 5Y*: 10.15%
• 10Y*: 12.35%

VFVA

• 1D: 1.57%
• 1M: -2.33%
• YTD: 3.28%
• 6M: 6.60%
• 1Y: 16.70%
• 3Y*: 15.39%
• 5Y*: 11.93%
• 10Y*: —

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

XSP.TO vs. VFVA - Expense Ratio Comparison

XSP.TO has a 0.09% expense ratio, which is lower than VFVA's 0.13% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

VFVA

Vanguard U.S. Value Factor ETF

XSP.TO

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

Return for Risk

XSP.TO vs. VFVA — 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: 57
XSP.TO Sharpe Ratio Rank: 51
XSP.TO Sortino Ratio Rank: 54
XSP.TO Omega Ratio Rank: 57
XSP.TO Calmar Ratio Rank: 58
XSP.TO Martin Ratio Rank: 66

VFVA

VFVA Risk / Return Rank: 57
VFVA Sharpe Ratio Rank: 55
VFVA Sortino Ratio Rank: 58
VFVA Omega Ratio Rank: 58
VFVA Calmar Ratio Rank: 57
VFVA Martin Ratio Rank: 58

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. VFVA - 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 Vanguard U.S. Value Factor ETF (VFVA). 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	VFVA	Difference
Sharpe ratio Return per unit of total volatility	0.86	0.75	+0.11
Sortino ratio Return per unit of downside risk	1.33	1.16	+0.18
Omega ratio Gain probability vs. loss probability	1.20	1.17	+0.03
Calmar ratio Return relative to maximum drawdown	1.33	1.15	+0.18
Martin ratio Return relative to average drawdown	6.13	4.05	+2.08
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. VFVA - Sharpe Ratio Comparison

The current XSP.TO Sharpe Ratio is 0.86, which is comparable to the VFVA Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of XSP.TO and VFVA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XSP.TO	VFVA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	0.75	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.67	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.50	-0.17

Correlation

The correlation between XSP.TO and VFVA is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

XSP.TO vs. VFVA - Dividend Comparison

XSP.TO's dividend yield for the trailing twelve months is around 1.29%, less than VFVA's 2.10% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XSP.TO iShares Core S&P 500 Index ETF (CAD-Hedged)	1.29%	1.23%	1.09%	1.18%	1.37%	1.00%	1.31%	1.73%	1.84%	1.47%	1.75%	1.86%
VFVA Vanguard U.S. Value Factor ETF	2.10%	2.13%	2.40%	2.45%	2.21%	1.68%	2.04%	2.08%	1.65%	0.00%	0.00%	0.00%

Drawdowns

XSP.TO vs. VFVA - Drawdown Comparison

The maximum XSP.TO drawdown since its inception was -57.82%, which is greater than VFVA's maximum drawdown of -42.82%. Use the drawdown chart below to compare losses from any high point for XSP.TO and VFVA.

Drawdown Indicators

	XSP.TO	VFVA	Difference
Max Drawdown Largest peak-to-trough decline	-57.82%	-48.58%	-9.24%
Max Drawdown (1Y) Largest decline over 1 year	-11.93%	-15.54%	+3.61%
Max Drawdown (5Y) Largest decline over 5 years	-25.44%	-24.07%	-1.37%
Max Drawdown (10Y) Largest decline over 10 years	-36.05%	—	—
Current Drawdown Current decline from peak	-6.73%	-6.43%	-0.30%
Average Drawdown Average peak-to-trough decline	-12.19%	-7.43%	-4.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	3.89%	-1.30%

Volatility

XSP.TO vs. VFVA - Volatility Comparison

iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) has a higher volatility of 5.36% compared to Vanguard U.S. Value Factor ETF (VFVA) at 4.56%. This indicates that XSP.TO's price experiences larger fluctuations and is considered to be riskier than VFVA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSP.TO	VFVA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.36%	4.56%	+0.80%
Volatility (6M) Calculated over the trailing 6-month period	9.38%	11.36%	-1.98%
Volatility (1Y) Calculated over the trailing 1-year period	17.80%	22.24%	-4.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.74%	18.03%	-1.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.17%	22.07%	-3.90%