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

XSP.TO vs. XUU.TO

Last updated Jul 16, 2026
Documentation

XSP.TO (iShares Core S&P 500 Index ETF (CAD-Hedged)) and XUU.TO (iShares Core S&P U.S. Total Market Index ETF) are both exchange-traded funds - XSP.TO is a S&P 500 fund tracking the S&P 500 Index, while XUU.TO is a Large Cap Blend Equities fund tracking the S&P Total Market Index. Both are passively managed. Over the past 10 years, XSP.TO returned 13.14%/yr vs 15.31%/yr for XUU.TO. Their correlation of 0.82 suggests significant overlap in exposure. XSP.TO charges 0.09%/yr vs 0.07%/yr for XUU.TO.

Performance

XSP.TO vs. XUU.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 iShares Core S&P U.S. Total Market Index ETF (XUU.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 9.73% return, which is significantly lower than XUU.TO's 14.12% return. Over the past 10 years, XSP.TO has underperformed XUU.TO with an annualized return of 13.14%, while XUU.TO has yielded a comparatively higher 15.31% annualized return.

XSP.TO

1D
0.34%
1M
0.15%
6M
8.50%
YTD
9.73%
1Y
19.88%
3Y*
18.35%
5Y*
11.02%
10Y*
13.14%

XUU.TO

1D
-0.12%
1M
0.71%
6M
11.17%
YTD
14.12%
1Y
25.10%
3Y*
22.13%
5Y*
14.80%
10Y*
15.31%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XSP.TO vs. XUU.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XSP.TO
iShares Core S&P 500 Index ETF (CAD-Hedged)		9.73%15.68%23.39%24.33%-19.32%24.27%15.16%29.37%-6.25%20.69%
XUU.TO
iShares Core S&P U.S. Total Market Index ETF		14.12%11.25%34.07%23.11%-13.53%25.94%16.26%23.78%2.43%12.80%

Correlation

The correlation between XSP.TO and XUU.TO is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.90

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

0.90

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

0.90

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

0.85

Correlation (All Time)
Calculated using the full available price history since Feb 18, 2015

0.82

The correlation between XSP.TO and XUU.TO has been stable across timeframes, ranging from 0.82 to 0.90 - a consistent structural relationship.

XSP.TO vs. XUU.TO - Sectors Allocation Comparison

Sectors
XSP.TO
XUU.TO

Technology

38.4%
37.0%

Financial Services

11.0%
11.4%

Communication Services

10.8%
10.0%

Consumer Cyclical

10.0%
10.0%

Healthcare

8.4%
8.6%

Industrials

7.9%
9.0%

Consumer Defensive

4.6%
4.4%

Energy

3.2%
3.3%

Utilities

2.1%
2.2%

Real Estate

1.8%
2.3%

Basic Materials

1.7%
1.9%

Technology

XSP.TO
38.4%
XUU.TO
37.0%

Financial Services

XSP.TO
11.0%
XUU.TO
11.4%

Communication Services

XSP.TO
10.8%
XUU.TO
10.0%

Consumer Cyclical

XSP.TO
10.0%
XUU.TO
10.0%

Healthcare

XSP.TO
8.4%
XUU.TO
8.6%

Industrials

XSP.TO
7.9%
XUU.TO
9.0%

Consumer Defensive

XSP.TO
4.6%
XUU.TO
4.4%

Energy

XSP.TO
3.2%
XUU.TO
3.3%

Utilities

XSP.TO
2.1%
XUU.TO
2.2%

Real Estate

XSP.TO
1.8%
XUU.TO
2.3%

Basic Materials

XSP.TO
1.7%
XUU.TO
1.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

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

iShares Core S&P U.S. Total Market Index ETF

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 XUU.TO:
XUU.TO vs. XUS.TOXUU.TO vs. VUN.TOXUU.TO vs. XAW.TOXUU.TO vs. XUU-U.TOXUU.TO vs. XIC.TOXUU.TO vs. VTIXUU.TO vs. VOO

Return for Risk

XSP.TO vs. XUU.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: 5959
Overall Rank
XSP.TO Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
XSP.TO Sortino Ratio Rank: 5858
Sortino Ratio Rank
XSP.TO Omega Ratio Rank: 5959
Omega Ratio Rank
XSP.TO Calmar Ratio Rank: 5252
Calmar Ratio Rank
XSP.TO Martin Ratio Rank: 6565
Martin Ratio Rank
XUU.TO
XUU.TO Risk / Return Rank: 7676
Overall Rank
XUU.TO Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
XUU.TO Sortino Ratio Rank: 7878
Sortino Ratio Rank
XUU.TO Omega Ratio Rank: 7878
Omega Ratio Rank
XUU.TO Calmar Ratio Rank: 7171
Calmar Ratio Rank
XUU.TO Martin Ratio Rank: 7373
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. XUU.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 iShares Core S&P U.S. Total Market Index ETF (XUU.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.TOXUU.TODifference
Sharpe ratioReturn per unit of total volatility
1.61
1.99

-0.39

Sortino ratioReturn per unit of downside risk
2.23
2.75

-0.53

Omega ratioGain probability vs. loss probability

1.29

1.36

-0.07

Calmar ratioReturn relative to maximum drawdown

2.12

2.86

-0.74

Martin ratioReturn relative to average drawdown

9.19

10.71

-1.52

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

The current XSP.TO Sharpe Ratio is 1.61, which is comparable to the XUU.TO Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of XSP.TO and XUU.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. XUU.TO - Drawdown Comparison

The maximum XSP.TO drawdown since its inception was -57.71%, which is greater than XUU.TO's maximum drawdown of -28.22%. Use the drawdown chart below to compare losses from any high point for XSP.TO and XUU.TO.

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Drawdown Indicators

XSP.TOXUU.TODifference

Max Drawdown

Largest peak-to-trough decline

-57.71%

-28.22%

-29.49%

Max Drawdown (1Y)

Largest decline over 1 year

-9.41%

-8.80%

-0.61%

Max Drawdown (3Y)

Largest decline over 3 years

-18.77%

-19.70%

+0.93%

Max Drawdown (5Y)

Largest decline over 5 years

-27.51%

-23.40%

-4.11%

Max Drawdown (10Y)

Largest decline over 10 years

-36.05%

-28.22%

-7.83%

Current Drawdown

Current decline from peak

-0.65%

-0.89%

+0.24%

Average Drawdown

Average peak-to-trough decline

-9.47%

-4.12%

-5.35%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.17%

2.35%

-0.18%

Volatility

XSP.TO vs. XUU.TO - Volatility Comparison

iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) and iShares Core S&P U.S. Total Market Index ETF (XUU.TO) have volatilities of 3.28% and 3.19%, 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.

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Volatility by Period

XSP.TOXUU.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.28%

3.19%

+0.09%

Volatility (6M)

Calculated over the trailing 6-month period

9.96%

9.92%

+0.04%

Volatility (1Y)

Calculated over the trailing 1-year period

12.44%

12.66%

-0.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.90%

15.56%

+1.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.20%

16.58%

+1.62%

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

XSP.TO has a 0.09% expense ratio, which is higher than XUU.TO's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XSP.TO vs. XUU.TO - Dividend Comparison

XSP.TO's dividend yield for the trailing twelve months is around 1.13%, more than XUU.TO's 1.02% yield.

PositionTTM20252024202320222021202020192018201720162015
XSP.TO
iShares Core S&P 500 Index ETF (CAD-Hedged)		1.13%1.23%1.09%1.18%1.37%1.01%1.31%1.73%1.86%1.45%1.76%1.88%
XUU.TO
iShares Core S&P U.S. Total Market Index ETF		1.02%1.16%1.02%1.22%1.38%1.01%1.33%1.68%1.74%1.49%1.65%1.53%

Frequently Asked Questions

With a correlation of 0.90, XSP.TO and XUU.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, XUU.TO is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XUU.TO is cheaper with a 0.07% expense ratio, compared with 0.09% for XSP.TO.

XSP.TO is categorized as S&P 500, while XUU.TO is Large Cap Blend Equities. XSP.TO tracks S&P 500 Index, while XUU.TO tracks S&P Total Market Index. Their fees differ too: 0.09% for XSP.TO and 0.07% for XUU.TO.

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