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XUH.TO vs. ETSX.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XUH.TO vs. ETSX.TO

Last updated Jun 4, 2026

XUH.TO (iShares Core S&P U.S. Total Market Index ETF (CAD-Hedged)) and ETSX.TO (Evolve S&P/TSX 60 Enhanced Yield Fund CAD Unhedged) are both Large Cap Blend Equities funds - XUH.TO tracks the Morningstar US Market TR CAD while ETSX.TO tracks the S&P/TSX 60. Both are passively managed. Over the past 3 years, XUH.TO returned 19.81%/yr vs 19.01%/yr for ETSX.TO. A 0.58 correlation means they provide meaningful diversification when combined. XUH.TO charges 0.08%/yr vs 0.45%/yr for ETSX.TO.

Performance

XUH.TO vs. ETSX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core S&P U.S. Total Market Index ETF (CAD-Hedged) (XUH.TO) and Evolve S&P/TSX 60 Enhanced Yield Fund CAD Unhedged (ETSX.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, XUH.TO achieves a 9.59% return, which is significantly higher than ETSX.TO's 7.49% return.

XUH.TO

1D
-0.66%
1M
5.17%
YTD
9.59%
6M
9.81%
1Y
24.95%
3Y*
19.81%
5Y*
11.17%
10Y*
13.19%

ETSX.TO

1D
-0.37%
1M
3.34%
YTD
7.49%
6M
9.59%
1Y
26.55%
3Y*
19.01%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XUH.TO vs. ETSX.TO - Yearly Performance Comparison

2026 (YTD)202520242023
XUH.TO
iShares Core S&P U.S. Total Market Index ETF (CAD-Hedged)		9.59%15.11%22.45%20.12%
ETSX.TO
Evolve S&P/TSX 60 Enhanced Yield Fund CAD Unhedged		7.49%25.93%18.50%6.16%

Correlation

The correlation between XUH.TO and ETSX.TO is 0.68, 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

0.68

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

0.58

Correlation (All Time)
Calculated using the full available price history since Jan 12, 2023

0.58

The correlation between XUH.TO and ETSX.TO shifts across timeframes, from 0.58 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.

XUH.TO vs. ETSX.TO - Sectors Allocation Comparison

Sectors
XUH.TO
ETSX.TO

Technology

38.5%
9.0%

Financial Services

11.0%
39.1%

Communication Services

10.2%
1.9%

Consumer Cyclical

9.6%
4.0%

Industrials

8.3%
7.8%

Healthcare

8.2%

-

Consumer Defensive

4.4%
3.2%

Energy

3.3%
18.5%

Utilities

2.5%
2.6%

Real Estate

2.0%
0.2%

Basic Materials

1.8%
13.6%

Technology

XUH.TO
38.5%
ETSX.TO
9.0%

Financial Services

XUH.TO
11.0%
ETSX.TO
39.1%

Communication Services

XUH.TO
10.2%
ETSX.TO
1.9%

Consumer Cyclical

XUH.TO
9.6%
ETSX.TO
4.0%

Industrials

XUH.TO
8.3%
ETSX.TO
7.8%

Healthcare

XUH.TO
8.2%
ETSX.TO

-

Consumer Defensive

XUH.TO
4.4%
ETSX.TO
3.2%

Energy

XUH.TO
3.3%
ETSX.TO
18.5%

Utilities

XUH.TO
2.5%
ETSX.TO
2.6%

Real Estate

XUH.TO
2.0%
ETSX.TO
0.2%

Basic Materials

XUH.TO
1.8%
ETSX.TO
13.6%

Compare stocks, funds, or ETFs

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iShares Core S&P U.S. Total Market Index ETF (CAD-Hedged)

Evolve S&P/TSX 60 Enhanced Yield Fund CAD Unhedged

Often compared with XUH.TO:
XUH.TO vs. XUU.TOXUH.TO vs. XUU-U.TOXUH.TO vs. VFV.TOXUH.TO vs. XSU.TOXUH.TO vs. VSP.TOXUH.TO vs. IUSGXUH.TO vs. VYM
Often compared with ETSX.TO:
ETSX.TO vs. TPU.TOETSX.TO vs. FCUQ.TOETSX.TO vs. BRKY.NEOETSX.TO vs. CNCL.TOETSX.TO vs. TULV.TOETSX.TO vs. UTES.TOETSX.TO vs. KNGC.TO

Return for Risk

XUH.TO vs. ETSX.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XUH.TO
XUH.TO Risk / Return Rank: 5959
Overall Rank
XUH.TO Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
XUH.TO Sortino Ratio Rank: 5959
Sortino Ratio Rank
XUH.TO Omega Ratio Rank: 5959
Omega Ratio Rank
XUH.TO Calmar Ratio Rank: 5454
Calmar Ratio Rank
XUH.TO Martin Ratio Rank: 6666
Martin Ratio Rank
ETSX.TO
ETSX.TO Risk / Return Rank: 7575
Overall Rank
ETSX.TO Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
ETSX.TO Sortino Ratio Rank: 7575
Sortino Ratio Rank
ETSX.TO Omega Ratio Rank: 7575
Omega Ratio Rank
ETSX.TO Calmar Ratio Rank: 6969
Calmar Ratio Rank
ETSX.TO Martin Ratio Rank: 8181
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.

XUH.TO vs. ETSX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P U.S. Total Market Index ETF (CAD-Hedged) (XUH.TO) and Evolve S&P/TSX 60 Enhanced Yield Fund CAD Unhedged (ETSX.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.

XUH.TOETSX.TODifference
Sharpe ratioReturn per unit of total volatility
2.02
2.43

-0.40

Sortino ratioReturn per unit of downside risk
2.82
3.36

-0.54

Omega ratioGain probability vs. loss probability

1.36

1.45

-0.08

Calmar ratioReturn relative to maximum drawdown

2.66

3.45

-0.79

Martin ratioReturn relative to average drawdown

12.06

15.85

-3.79

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

XUH.TO vs. ETSX.TO - Sharpe Ratio Comparison

The current XUH.TO Sharpe Ratio is 2.02, which is comparable to the ETSX.TO Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of XUH.TO and ETSX.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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Sharpe Ratios by Period

XUH.TOETSX.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.02

2.43

-0.40

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.66

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.71

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.64

1.46

-0.82

Drawdowns

XUH.TO vs. ETSX.TO - Drawdown Comparison

The maximum XUH.TO drawdown since its inception was -38.37%, which is greater than ETSX.TO's maximum drawdown of -12.23%. Use the drawdown chart below to compare losses from any high point for XUH.TO and ETSX.TO.

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Drawdown Indicators

XUH.TOETSX.TODifference

Max Drawdown

Largest peak-to-trough decline

-38.37%

-12.23%

-26.14%

Max Drawdown (1Y)

Largest decline over 1 year

-9.41%

-7.72%

-1.69%

Max Drawdown (3Y)

Largest decline over 3 years

-19.32%

-12.23%

-7.09%

Max Drawdown (5Y)

Largest decline over 5 years

-26.11%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-38.37%

—

—

Current Drawdown

Current decline from peak

-0.66%

-0.37%

-0.29%

Average Drawdown

Average peak-to-trough decline

-4.96%

-1.67%

-3.29%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.07%

1.68%

+0.39%

Volatility

XUH.TO vs. ETSX.TO - Volatility Comparison

iShares Core S&P U.S. Total Market Index ETF (CAD-Hedged) (XUH.TO) has a higher volatility of 3.21% compared to Evolve S&P/TSX 60 Enhanced Yield Fund CAD Unhedged (ETSX.TO) at 2.70%. This indicates that XUH.TO's price experiences larger fluctuations and is considered to be riskier than ETSX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XUH.TOETSX.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.21%

2.70%

+0.51%

Volatility (6M)

Calculated over the trailing 6-month period

9.36%

8.78%

+0.58%

Volatility (1Y)

Calculated over the trailing 1-year period

12.41%

11.01%

+1.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.08%

11.71%

+5.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.70%

11.71%

+6.99%

XUH.TO vs. ETSX.TO - Expense Ratio Comparison

XUH.TO has a 0.08% expense ratio, which is lower than ETSX.TO's 0.45% expense ratio.

Dividends

XUH.TO vs. ETSX.TO - Dividend Comparison

XUH.TO's dividend yield for the trailing twelve months is around 0.82%, less than ETSX.TO's 9.19% yield.

PositionTTM20252024202320222021202020192018201720162015
ETSX.TO
Evolve S&P/TSX 60 Enhanced Yield Fund CAD Unhedged		9.19%9.39%9.20%9.92%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XUH.TO
iShares Core S&P U.S. Total Market Index ETF (CAD-Hedged)		0.82%0.91%1.10%1.15%1.40%0.98%1.25%1.67%1.81%1.25%1.63%1.62%

Frequently Asked Questions

XUH.TO and ETSX.TO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XUH.TO is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XUH.TO is cheaper with a 0.08% expense ratio, compared with 0.45% for ETSX.TO.

XUH.TO tracks Morningstar US Market TR CAD, while ETSX.TO tracks S&P/TSX 60. They also come from different issuers: iShares and Evolve. Their fees differ too: 0.08% for XUH.TO and 0.45% for ETSX.TO.

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