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XSU.TO vs. VBR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XSU.TO vs. VBR

Last updated Jun 4, 2026

XSU.TO (iShares U.S. Small Cap Index ETF (CAD-Hedged)) and VBR (Vanguard Small-Cap Value ETF) are both exchange-traded funds - XSU.TO is a Small Cap Blend Equities fund tracking the Morningstar US SMID TR CAD, while VBR is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index. Both are passively managed. Over the past 10 years, XSU.TO returned 8.99%/yr vs 11.33%/yr for VBR. Their correlation of 0.83 suggests significant overlap in exposure. XSU.TO charges 0.35%/yr vs 0.05%/yr for VBR.

Performance

XSU.TO vs. VBR - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares U.S. Small Cap Index ETF (CAD-Hedged) (XSU.TO) and Vanguard Small-Cap Value ETF (VBR). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, XSU.TO achieves a 15.84% return, which is significantly higher than VBR's 13.09% return. Over the past 10 years, XSU.TO has underperformed VBR with an annualized return of 8.99%, while VBR has yielded a comparatively higher 11.33% annualized return.

XSU.TO

1D
-1.37%
1M
3.54%
YTD
15.84%
6M
14.30%
1Y
35.82%
3Y*
15.60%
5Y*
4.20%
10Y*
8.99%

VBR

1D
0.02%
1M
4.44%
YTD
13.09%
6M
11.52%
1Y
27.41%
3Y*
17.80%
5Y*
11.04%
10Y*
11.33%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XSU.TO vs. VBR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XSU.TO
iShares U.S. Small Cap Index ETF (CAD-Hedged)		15.84%10.50%9.67%14.70%-21.66%12.77%15.71%23.81%-12.82%13.66%
VBR
Vanguard Small-Cap Value ETF		13.09%4.08%22.05%13.44%-2.92%26.93%4.11%16.74%-4.84%4.69%

Correlation

The correlation between XSU.TO and VBR is 0.81, 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

0.81

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

0.85

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

0.86

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

0.84

Correlation (All Time)
Calculated using the full available price history since Jun 23, 2009

0.83

The correlation between XSU.TO and VBR has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.

XSU.TO vs. VBR - Sectors Allocation Comparison

Sectors
XSU.TO
VBR

Industrials

17.5%
18.1%

Technology

16.9%
10.6%

Healthcare

16.5%
7.9%

Financial Services

15.9%
17.6%

Consumer Cyclical

8.4%
12.4%

Real Estate

6.2%
10.1%

Energy

6.2%
5.2%

Basic Materials

4.8%
6.3%

Utilities

2.9%
4.8%

Communication Services

2.5%
2.5%

Consumer Defensive

2.4%
4.0%

Industrials

XSU.TO
17.5%
VBR
18.1%

Technology

XSU.TO
16.9%
VBR
10.6%

Healthcare

XSU.TO
16.5%
VBR
7.9%

Financial Services

XSU.TO
15.9%
VBR
17.6%

Consumer Cyclical

XSU.TO
8.4%
VBR
12.4%

Real Estate

XSU.TO
6.2%
VBR
10.1%

Energy

XSU.TO
6.2%
VBR
5.2%

Basic Materials

XSU.TO
4.8%
VBR
6.3%

Utilities

XSU.TO
2.9%
VBR
4.8%

Communication Services

XSU.TO
2.5%
VBR
2.5%

Consumer Defensive

XSU.TO
2.4%
VBR
4.0%

Compare stocks, funds, or ETFs

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iShares U.S. Small Cap Index ETF (CAD-Hedged)

Vanguard Small-Cap Value ETF

Often compared with XSU.TO:
XSU.TO vs. XUS.TOXSU.TO vs. IWMXSU.TO vs. AVUVXSU.TO vs. XSP.TOXSU.TO vs. XSMH.TOXSU.TO vs. XEQT.TOXSU.TO vs. XSMC.TO
Often compared with VBR:
VBR vs. AVUVVBR vs. VBVBR vs. VBKVBR vs. VOOVBR vs. VTIVBR vs. VIOVVBR vs. VSIAX

Return for Risk

XSU.TO vs. VBR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XSU.TO
XSU.TO Risk / Return Rank: 5656
Overall Rank
XSU.TO Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
XSU.TO Sortino Ratio Rank: 5454
Sortino Ratio Rank
XSU.TO Omega Ratio Rank: 4848
Omega Ratio Rank
XSU.TO Calmar Ratio Rank: 6262
Calmar Ratio Rank
XSU.TO Martin Ratio Rank: 6262
Martin Ratio Rank
VBR
VBR Risk / Return Rank: 5252
Overall Rank
VBR Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
VBR Sortino Ratio Rank: 5050
Sortino Ratio Rank
VBR Omega Ratio Rank: 4646
Omega Ratio Rank
VBR Calmar Ratio Rank: 5858
Calmar Ratio Rank
VBR Martin Ratio Rank: 5858
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.

XSU.TO vs. VBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Small Cap Index ETF (CAD-Hedged) (XSU.TO) and Vanguard Small-Cap Value ETF (VBR). 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.

XSU.TOVBRDifference
Sharpe ratioReturn per unit of total volatility
1.83
1.84

0.00

Sortino ratioReturn per unit of downside risk
2.61
2.65

-0.04

Omega ratioGain probability vs. loss probability

1.31

1.32

-0.01

Calmar ratioReturn relative to maximum drawdown

3.10

3.22

-0.12

Martin ratioReturn relative to average drawdown

11.04

12.21

-1.16

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XSU.TO vs. VBR - Sharpe Ratio Comparison

The current XSU.TO Sharpe Ratio is 1.83, which is comparable to the VBR Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of XSU.TO and VBR, 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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Sharpe Ratios by Period

XSU.TOVBRDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.83

1.84

0.00

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.19

0.63

-0.45

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.38

0.58

-0.19

Sharpe Ratio (All Time)

Calculated using the full available price history

0.26

0.79

-0.52

Drawdowns

XSU.TO vs. VBR - Drawdown Comparison

The maximum XSU.TO drawdown since its inception was -62.62%, which is greater than VBR's maximum drawdown of -39.68%. Use the drawdown chart below to compare losses from any high point for XSU.TO and VBR.

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Drawdown Indicators

XSU.TOVBRDifference

Max Drawdown

Largest peak-to-trough decline

-62.62%

-39.68%

-22.94%

Max Drawdown (1Y)

Largest decline over 1 year

-11.60%

-8.55%

-3.05%

Max Drawdown (3Y)

Largest decline over 3 years

-28.16%

-22.69%

-5.47%

Max Drawdown (5Y)

Largest decline over 5 years

-33.98%

-22.69%

-11.29%

Max Drawdown (10Y)

Largest decline over 10 years

-44.60%

-39.68%

-4.92%

Current Drawdown

Current decline from peak

-1.53%

0.00%

-1.53%

Average Drawdown

Average peak-to-trough decline

-13.72%

-4.74%

-8.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.25%

2.25%

+1.00%

Volatility

XSU.TO vs. VBR - Volatility Comparison

iShares U.S. Small Cap Index ETF (CAD-Hedged) (XSU.TO) has a higher volatility of 5.84% compared to Vanguard Small-Cap Value ETF (VBR) at 3.98%. This indicates that XSU.TO's price experiences larger fluctuations and is considered to be riskier than VBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XSU.TOVBRDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.84%

3.98%

+1.86%

Volatility (6M)

Calculated over the trailing 6-month period

13.61%

10.71%

+2.90%

Volatility (1Y)

Calculated over the trailing 1-year period

19.68%

15.04%

+4.64%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.74%

17.55%

+5.19%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.49%

19.61%

+3.88%

XSU.TO vs. VBR - Expense Ratio Comparison

XSU.TO has a 0.35% expense ratio, which is higher than VBR's 0.05% expense ratio.

Dividends

XSU.TO vs. VBR - Dividend Comparison

XSU.TO's dividend yield for the trailing twelve months is around 0.73%, less than VBR's 1.76% yield.

PositionTTM20252024202320222021202020192018201720162015
VBR
Vanguard Small-Cap Value ETF		1.76%1.95%1.98%2.12%2.03%1.75%1.68%2.06%2.35%1.79%1.77%1.99%
XSU.TO
iShares U.S. Small Cap Index ETF (CAD-Hedged)		0.73%0.85%0.93%1.09%1.28%0.73%0.79%1.00%1.12%0.95%1.16%1.28%

Frequently Asked Questions

XSU.TO and VBR have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VBR is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VBR is cheaper with a 0.05% expense ratio, compared with 0.35% for XSU.TO.

XSU.TO is categorized as Small Cap Blend Equities, while VBR is Small Cap Value Equities. XSU.TO tracks Morningstar US SMID TR CAD, while VBR tracks CRSP US Small Cap Value Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.35% for XSU.TO and 0.05% for VBR.

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