XSP.TO vs. VSP.TO

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) and Vanguard S&P 500 CAD-hedged ETF (VSP.TO).

XSP.TO and VSP.TO 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. VSP.TO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Nov 2, 2012. Both XSP.TO and VSP.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XSP.TO vs. VSP.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 Vanguard S&P 500 CAD-hedged ETF (VSP.TO). The values are adjusted to include any dividend payments, if applicable.

XSP.TO vs. VSP.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)	-4.98%	15.68%	23.39%	24.33%	-19.32%	27.85%	15.17%	29.35%	-6.26%	20.71%
VSP.TO Vanguard S&P 500 CAD-hedged ETF	-4.82%	15.49%	23.68%	24.16%	-19.24%	27.90%	15.32%	30.18%	-6.75%	21.05%

Returns By Period

The year-to-date returns for both investments are quite close, with XSP.TO having a -4.98% return and VSP.TO slightly higher at -4.82%. Both investments have delivered pretty close results over the past 10 years, with XSP.TO having a 12.35% annualized return and VSP.TO not far ahead at 12.44%.

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%

VSP.TO

• 1D: 3.15%
• 1M: -5.06%
• YTD: -4.82%
• 6M: -2.72%
• 1Y: 15.55%
• 3Y*: 16.44%
• 5Y*: 10.21%
• 10Y*: 12.44%

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

XSP.TO vs. VSP.TO - Expense Ratio Comparison

Both XSP.TO and VSP.TO have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

XSP.TO

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

VSP.TO

Vanguard S&P 500 CAD-hedged ETF

Return for Risk

XSP.TO vs. VSP.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: 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

VSP.TO

VSP.TO Risk / Return Rank: 57
VSP.TO Sharpe Ratio Rank: 51
VSP.TO Sortino Ratio Rank: 54
VSP.TO Omega Ratio Rank: 58
VSP.TO Calmar Ratio Rank: 58
VSP.TO Martin Ratio Rank: 66

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. VSP.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 Vanguard S&P 500 CAD-hedged ETF (VSP.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	VSP.TO	Difference
Sharpe ratio Return per unit of total volatility	0.86	0.86	0.00
Sortino ratio Return per unit of downside risk	1.33	1.35	-0.01
Omega ratio Gain probability vs. loss probability	1.20	1.20	0.00
Calmar ratio Return relative to maximum drawdown	1.33	1.34	-0.01
Martin ratio Return relative to average drawdown	6.13	6.22	-0.09
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. VSP.TO - Sharpe Ratio Comparison

The current XSP.TO Sharpe Ratio is 0.86, which is comparable to the VSP.TO Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of XSP.TO and VSP.TO, 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	VSP.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	0.86	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.61	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.70	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.78	-0.44

Correlation

The correlation between XSP.TO and VSP.TO is 0.97, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XSP.TO vs. VSP.TO - Dividend Comparison

XSP.TO's dividend yield for the trailing twelve months is around 1.29%, more than VSP.TO's 0.97% 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%
VSP.TO Vanguard S&P 500 CAD-hedged ETF	0.97%	0.92%	1.07%	1.17%	1.37%	1.07%	1.27%	1.52%	1.76%	1.46%	1.69%	1.75%

Drawdowns

XSP.TO vs. VSP.TO - Drawdown Comparison

The maximum XSP.TO drawdown since its inception was -57.82%, which is greater than VSP.TO's maximum drawdown of -35.55%. Use the drawdown chart below to compare losses from any high point for XSP.TO and VSP.TO.

Drawdown Indicators

	XSP.TO	VSP.TO	Difference
Max Drawdown Largest peak-to-trough decline	-57.82%	-35.55%	-22.27%
Max Drawdown (1Y) Largest decline over 1 year	-11.93%	-12.07%	+0.14%
Max Drawdown (5Y) Largest decline over 5 years	-25.44%	-25.54%	+0.10%
Max Drawdown (10Y) Largest decline over 10 years	-36.05%	-35.55%	-0.50%
Current Drawdown Current decline from peak	-6.73%	-6.55%	-0.18%
Average Drawdown Average peak-to-trough decline	-12.19%	-4.04%	-8.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	2.60%	-0.01%

Volatility

XSP.TO vs. VSP.TO - Volatility Comparison

iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) and Vanguard S&P 500 CAD-hedged ETF (VSP.TO) have volatilities of 5.36% and 5.50%, 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	VSP.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.36%	5.50%	-0.14%
Volatility (6M) Calculated over the trailing 6-month period	9.38%	9.47%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	17.80%	18.12%	-0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.74%	16.82%	-0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.17%	17.96%	+0.21%