XSU.TO vs. XIU.TO

Last updated Jun 4, 2026

XSU.TO (iShares U.S. Small Cap Index ETF (CAD-Hedged)) and XIU.TO (iShares S&P/TSX 60 Index ETF) are both exchange-traded funds - XSU.TO is a Small Cap Blend Equities fund tracking the Morningstar US SMID TR CAD, while XIU.TO is a Canada Equities fund tracking the S&P/TSX 60 Index. Both are passively managed. Over the past 10 years, XSU.TO returned 8.99%/yr vs 12.62%/yr for XIU.TO. A 0.67 correlation means they provide meaningful diversification when combined. XSU.TO charges 0.35%/yr vs 0.18%/yr for XIU.TO.

Performance

XSU.TO vs. XIU.TO - 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 iShares S&P/TSX 60 Index ETF (XIU.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XSU.TO achieves a 15.84% return, which is significantly higher than XIU.TO's 10.14% return. Over the past 10 years, XSU.TO has underperformed XIU.TO with an annualized return of 8.99%, while XIU.TO has yielded a comparatively higher 12.62% 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%

XIU.TO

• 1D: -0.87%
• 1M: 3.47%
• YTD: 10.14%
• 6M: 12.10%
• 1Y: 31.65%
• 3Y*: 22.48%
• 5Y*: 14.37%
• 10Y*: 12.62%

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

XSU.TO vs. XIU.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
XIU.TO iShares S&P/TSX 60 Index ETF	10.14%	28.89%	20.73%	11.85%	-6.35%	28.06%	5.27%	21.81%	-7.82%	9.58%

Correlation

The correlation between XSU.TO and XIU.TO is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since May 22, 2007	0.67

The correlation between XSU.TO and XIU.TO has been stable across timeframes, ranging from 0.67 to 0.74 - a consistent structural relationship.

XSU.TO vs. XIU.TO - Sectors Allocation Comparison

Sectors	XSU.TO	XIU.TO
Industrials	17.5%	7.9%
Technology	16.9%	8.8%
Healthcare	16.5%	-
Financial Services	15.9%	39.4%
Consumer Cyclical	8.4%	4.1%
Real Estate	6.2%	0.2%
Energy	6.2%	18.6%
Basic Materials	4.8%	13.3%
Utilities	2.9%	2.6%
Communication Services	2.5%	2.0%
Consumer Defensive	2.4%	3.2%

Return for Risk

XSU.TO vs. XIU.TO — 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: 56
XSU.TO Sharpe Ratio Rank: 53
XSU.TO Sortino Ratio Rank: 54
XSU.TO Omega Ratio Rank: 48
XSU.TO Calmar Ratio Rank: 62
XSU.TO Martin Ratio Rank: 62

XIU.TO

XIU.TO Risk / Return Rank: 82
XIU.TO Sharpe Ratio Rank: 82
XIU.TO Sortino Ratio Rank: 79
XIU.TO Omega Ratio Rank: 80
XIU.TO Calmar Ratio Rank: 79
XIU.TO Martin Ratio Rank: 87

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. XIU.TO - 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 iShares S&P/TSX 60 Index ETF (XIU.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.

	XSU.TO	XIU.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.83	2.71	-0.88
Sortino ratio: Return per unit of downside risk	2.61	3.64	-1.02
Omega ratio: Gain probability vs. loss probability	1.31	1.49	-0.18
Calmar ratio: Return relative to maximum drawdown	3.10	4.16	-1.05
Martin ratio: Return relative to average drawdown	11.04	19.30	-8.26
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. XIU.TO - Sharpe Ratio Comparison

The current XSU.TO Sharpe Ratio is 1.83, which is lower than the XIU.TO Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of XSU.TO and XIU.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.

Sharpe Ratios by Period

	XSU.TO	XIU.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	2.71	-0.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	1.13	-0.95
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	0.85	-0.46
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.51	-0.25

Drawdowns

XSU.TO vs. XIU.TO - Drawdown Comparison

The maximum XSU.TO drawdown since its inception was -62.62%, which is greater than XIU.TO's maximum drawdown of -52.31%. Use the drawdown chart below to compare losses from any high point for XSU.TO and XIU.TO.

Drawdown Indicators

	XSU.TO	XIU.TO	Difference
Max Drawdown Largest peak-to-trough decline	-62.62%	-52.31%	-10.31%
Max Drawdown (1Y) Largest decline over 1 year	-11.60%	-7.65%	-3.95%
Max Drawdown (3Y) Largest decline over 3 years	-28.16%	-12.36%	-15.80%
Max Drawdown (5Y) Largest decline over 5 years	-33.98%	-16.36%	-17.62%
Max Drawdown (10Y) Largest decline over 10 years	-44.60%	-35.46%	-9.14%
Current Drawdown Current decline from peak	-1.53%	-0.87%	-0.66%
Average Drawdown Average peak-to-trough decline	-13.72%	-11.63%	-2.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	1.64%	+1.61%

Volatility

XSU.TO vs. XIU.TO - Volatility Comparison

iShares U.S. Small Cap Index ETF (CAD-Hedged) (XSU.TO) has a higher volatility of 5.84% compared to iShares S&P/TSX 60 Index ETF (XIU.TO) at 3.28%. This indicates that XSU.TO's price experiences larger fluctuations and is considered to be riskier than XIU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSU.TO	XIU.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.84%	3.28%	+2.56%
Volatility (6M) Calculated over the trailing 6-month period	13.61%	9.32%	+4.29%
Volatility (1Y) Calculated over the trailing 1-year period	19.68%	11.73%	+7.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.74%	12.78%	+9.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.49%	15.01%	+8.48%

XSU.TO vs. XIU.TO - Expense Ratio Comparison

XSU.TO has a 0.35% expense ratio, which is higher than XIU.TO's 0.18% expense ratio.

Dividends

XSU.TO vs. XIU.TO - Dividend Comparison

XSU.TO's dividend yield for the trailing twelve months is around 0.73%, less than XIU.TO's 2.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XIU.TO iShares S&P/TSX 60 Index ETF	2.20%	2.39%	2.92%	3.16%	3.02%	2.43%	3.03%	2.87%	3.18%	2.58%	2.65%	3.19%
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

Can I hold both XSU.TO and XIU.TO in my portfolio?

XSU.TO and XIU.TO have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XSU.TO or XIU.TO?

On fees, XIU.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XSU.TO or XIU.TO?

XIU.TO is cheaper with a 0.18% expense ratio, compared with 0.35% for XSU.TO.

What is the main difference between XSU.TO and XIU.TO?

XSU.TO is categorized as Small Cap Blend Equities, while XIU.TO is Canada Equities. XSU.TO tracks Morningstar US SMID TR CAD, while XIU.TO tracks S&P/TSX 60 Index. Their fees differ too: 0.35% for XSU.TO and 0.18% for XIU.TO.