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

XSP.TO vs. WPM.TO

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 WPM.TO (Wheaton Precious Metals Corp.) is a stock. Over the past 10 years, XSP.TO returned 13.40%/yr vs 21.58%/yr for WPM.TO. At a 0.20 correlation, their price movements are largely independent.

Performance

XSP.TO vs. WPM.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 Wheaton Precious Metals Corp. (WPM.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XSP.TO achieves a 7.74% return, which is significantly higher than WPM.TO's 0.91% return. Over the past 10 years, XSP.TO has underperformed WPM.TO with an annualized return of 13.40%, while WPM.TO has yielded a comparatively higher 21.58% 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%

WPM.TO

1D
3.30%
1M
-14.91%
YTD
0.91%
6M
0.67%
1Y
31.15%
3Y*
40.83%
5Y*
24.07%
10Y*
21.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XSP.TO vs. WPM.TO - 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%
WPM.TO
Wheaton Precious Metals Corp.		0.91%100.91%25.13%25.20%-1.07%3.20%39.06%47.18%-2.24%8.88%

Correlation

The correlation between XSP.TO and WPM.TO is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.34

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

0.27

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

0.23

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

0.15

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

0.20

The correlation between XSP.TO and WPM.TO shifts across timeframes, from 0.15 (10 years) to 0.34 (1 year), reflecting how their relationship changes across market environments.

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

Wheaton Precious Metals Corp.

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 WPM.TO:
WPM.TO vs. FNV.TOWPM.TO vs. GLDMWPM.TO vs. AEMWPM.TO vs. CCO.TOWPM.TO vs. GOLDWPM.TO vs. AGI.TOWPM.TO vs. GLD

Return for Risk

XSP.TO vs. WPM.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: 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
WPM.TO
WPM.TO Risk / Return Rank: 6464
Overall Rank
WPM.TO Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
WPM.TO Sortino Ratio Rank: 6060
Sortino Ratio Rank
WPM.TO Omega Ratio Rank: 6262
Omega Ratio Rank
WPM.TO Calmar Ratio Rank: 6363
Calmar Ratio Rank
WPM.TO Martin Ratio Rank: 6767
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. WPM.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 Wheaton Precious Metals Corp. (WPM.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.

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.TOWPM.TODifference
Sharpe ratioReturn per unit of total volatility
1.77
0.73

+1.04

Sortino ratioReturn per unit of downside risk
2.42
1.15

+1.27

Omega ratioGain probability vs. loss probability

1.32

1.16

+0.16

Calmar ratioReturn relative to maximum drawdown

2.30

0.98

+1.32

Martin ratioReturn relative to average drawdown

10.35

2.77

+7.58

XSP.TO vs. WPM.TO - Sharpe Ratio Comparison

The current XSP.TO Sharpe Ratio is 1.77, which is higher than the WPM.TO Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of XSP.TO and WPM.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.

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Drawdowns

XSP.TO vs. WPM.TO - Drawdown Comparison

The maximum XSP.TO drawdown since its inception was -57.71%, smaller than the maximum WPM.TO drawdown of -83.21%. Use the drawdown chart below to compare losses from any high point for XSP.TO and WPM.TO.

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Drawdown Indicators

XSP.TOWPM.TODifference

Max Drawdown

Largest peak-to-trough decline

-57.71%

-83.21%

+25.50%

Max Drawdown (1Y)

Largest decline over 1 year

-9.41%

-33.62%

+24.21%

Max Drawdown (3Y)

Largest decline over 3 years

-18.77%

-33.62%

+14.85%

Max Drawdown (5Y)

Largest decline over 5 years

-27.51%

-39.04%

+11.53%

Max Drawdown (10Y)

Largest decline over 10 years

-36.05%

-47.50%

+11.45%

Current Drawdown

Current decline from peak

-2.45%

-28.16%

+25.71%

Average Drawdown

Average peak-to-trough decline

-9.46%

-25.72%

+16.26%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.09%

11.90%

-9.81%

Volatility

XSP.TO vs. WPM.TO - Volatility Comparison

The current volatility for iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) is 4.61%, while Wheaton Precious Metals Corp. (WPM.TO) has a volatility of 17.82%. This indicates that XSP.TO experiences smaller price fluctuations and is considered to be less risky than WPM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XSP.TOWPM.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.61%

17.82%

-13.21%

Volatility (6M)

Calculated over the trailing 6-month period

9.66%

38.20%

-28.54%

Volatility (1Y)

Calculated over the trailing 1-year period

12.22%

44.95%

-32.73%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.87%

33.46%

-16.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.24%

35.26%

-17.02%

Dividends

XSP.TO vs. WPM.TO - Dividend Comparison

XSP.TO's dividend yield for the trailing twelve months is around 1.14%, more than WPM.TO's 0.62% yield.

PositionTTM20252024202320222021202020192018201720162015
WPM.TO
Wheaton Precious Metals Corp.		0.62%0.57%1.05%1.25%1.40%1.05%1.08%1.24%1.75%1.54%1.06%1.48%
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 WPM.TO have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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