XST.TO vs. BALT

Last updated Jun 4, 2026

XST.TO (iShares S&P/TSX Capped Consumer Staples Index ETF) and BALT (Innovator Defined Wealth Shield ETF) are both exchange-traded funds - XST.TO is a Consumer Staples Equities fund tracking the Morningstar Gbl GR CAD, while BALT is a Defined Outcome fund tracking the S&P 500. Both are passively managed. Over the past 3 years, XST.TO returned 13.65%/yr vs 8.51%/yr for BALT. At a 0.01 correlation, their price movements are largely independent. XST.TO charges 0.61%/yr vs 0.69%/yr for BALT.

Performance

XST.TO vs. BALT - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Capped Consumer Staples Index ETF (XST.TO) and Innovator Defined Wealth Shield ETF (BALT). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XST.TO is traded in CAD, while BALT is traded in USD. To make them comparable, the BALT values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XST.TO achieves a 1.49% return, which is significantly lower than BALT's 3.21% return.

XST.TO

• 1D: 1.56%
• 1M: 1.84%
• YTD: 1.49%
• 6M: 1.76%
• 1Y: 5.73%
• 3Y*: 13.65%
• 5Y*: 12.66%
• 10Y*: 9.50%

BALT

• 1D: 0.35%
• 1M: 2.54%
• YTD: 3.21%
• 6M: 2.42%
• 1Y: 8.33%
• 3Y*: 8.51%
• 5Y*: —
• 10Y*: —

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

XST.TO vs. BALT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XST.TO iShares S&P/TSX Capped Consumer Staples Index ETF	1.49%	16.38%	19.83%	6.37%	8.76%	10.56%
BALT Innovator Defined Wealth Shield ETF	3.21%	1.76%	19.42%	5.09%	9.84%	2.53%

Correlation

The correlation between XST.TO and BALT 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	0.05
Correlation (All Time) Calculated using the full available price history since Jul 2, 2021	0.01

XST.TO vs. BALT - Sectors Allocation Comparison

Sectors	XST.TO	BALT
Consumer Defensive	74.9%	4.9%
Consumer Cyclical	25.1%	10.1%
Basic Materials	-	1.8%
Communication Services	-	10.9%
Energy	-	3.5%
Financial Services	-	11.9%
Healthcare	-	8.4%
Industrials	-	8.1%
Real Estate	-	1.9%
Technology	-	36.2%
Utilities	-	2.3%

Return for Risk

XST.TO vs. BALT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XST.TO

XST.TO Risk / Return Rank: 14
XST.TO Sharpe Ratio Rank: 14
XST.TO Sortino Ratio Rank: 13
XST.TO Omega Ratio Rank: 13
XST.TO Calmar Ratio Rank: 15
XST.TO Martin Ratio Rank: 15

BALT

BALT Risk / Return Rank: 92
BALT Sharpe Ratio Rank: 90
BALT Sortino Ratio Rank: 94
BALT Omega Ratio Rank: 93
BALT Calmar Ratio Rank: 91
BALT Martin Ratio Rank: 91

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.

XST.TO vs. BALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Capped Consumer Staples Index ETF (XST.TO) and Innovator Defined Wealth Shield ETF (BALT). 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.

	XST.TO	BALT	Difference
Sharpe ratio: Return per unit of total volatility	0.36	1.74	-1.38
Sortino ratio: Return per unit of downside risk	0.61	2.37	-1.76
Omega ratio: Gain probability vs. loss probability	1.07	1.32	-0.25
Calmar ratio: Return relative to maximum drawdown	0.55	2.90	-2.35
Martin ratio: Return relative to average drawdown	1.30	8.28	-6.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XST.TO vs. BALT - Sharpe Ratio Comparison

The current XST.TO Sharpe Ratio is 0.36, which is lower than the BALT Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of XST.TO and BALT, 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

	XST.TO	BALT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.36	1.74	-1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	1.39	-0.41

Drawdowns

XST.TO vs. BALT - Drawdown Comparison

The maximum XST.TO drawdown since its inception was -22.65%, which is greater than BALT's maximum drawdown of -7.07%. Use the drawdown chart below to compare losses from any high point for XST.TO and BALT.

Drawdown Indicators

	XST.TO	BALT	Difference
Max Drawdown Largest peak-to-trough decline	-22.65%	-7.07%	-15.58%
Max Drawdown (1Y) Largest decline over 1 year	-10.52%	-2.89%	-7.63%
Max Drawdown (3Y) Largest decline over 3 years	-10.86%	-7.07%	-3.79%
Max Drawdown (5Y) Largest decline over 5 years	-10.86%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-22.65%	—	—
Current Drawdown Current decline from peak	-6.65%	0.00%	-6.65%
Average Drawdown Average peak-to-trough decline	-3.21%	-1.29%	-1.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.46%	1.01%	+3.45%

Volatility

XST.TO vs. BALT - Volatility Comparison

iShares S&P/TSX Capped Consumer Staples Index ETF (XST.TO) has a higher volatility of 4.77% compared to Innovator Defined Wealth Shield ETF (BALT) at 0.80%. This indicates that XST.TO's price experiences larger fluctuations and is considered to be riskier than BALT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XST.TO	BALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.77%	0.80%	+3.97%
Volatility (6M) Calculated over the trailing 6-month period	12.08%	3.60%	+8.48%
Volatility (1Y) Calculated over the trailing 1-year period	16.16%	4.82%	+11.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.22%	6.02%	+8.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.95%	6.02%	+8.93%

XST.TO vs. BALT - Expense Ratio Comparison

XST.TO has a 0.61% expense ratio, which is lower than BALT's 0.69% expense ratio.

Dividends

XST.TO vs. BALT - Dividend Comparison

XST.TO's dividend yield for the trailing twelve months is around 0.68%, while BALT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BALT Innovator Defined Wealth Shield ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XST.TO iShares S&P/TSX Capped Consumer Staples Index ETF	0.68%	0.67%	0.86%	0.79%	0.74%	0.68%	0.74%	0.73%	0.81%	0.90%	0.52%	0.62%

Frequently Asked Questions

Can I hold both XST.TO and BALT in my portfolio?

XST.TO and BALT 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.

Which ETF is better, XST.TO or BALT?

On fees, XST.TO is cheaper at 0.61% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XST.TO or BALT?

XST.TO is cheaper with a 0.61% expense ratio, compared with 0.69% for BALT.

What is the main difference between XST.TO and BALT?

XST.TO is categorized as Consumer Staples Equities, while BALT is Defined Outcome. XST.TO tracks Morningstar Gbl GR CAD, while BALT tracks S&P 500. They also come from different issuers: iShares and Innovator. Their fees differ too: 0.61% for XST.TO and 0.69% for BALT.