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

XUH.TO vs. XAW.TO

Last updated Jun 5, 2026

XUH.TO (iShares Core S&P U.S. Total Market Index ETF (CAD-Hedged)) and XAW.TO (iShares Core MSCI All Country World ex Canada Index ETF) are both exchange-traded funds - XUH.TO is a Large Cap Blend Equities fund tracking the Morningstar US Market TR CAD, while XAW.TO is a Global Equities fund tracking the Morningstar Gbl GR CAD. Both are passively managed. Over the past 10 years, XUH.TO returned 13.19%/yr vs 13.26%/yr for XAW.TO. A 0.72 correlation means they provide meaningful diversification when combined. XUH.TO charges 0.08%/yr vs 0.22%/yr for XAW.TO.

Performance

XUH.TO vs. XAW.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 iShares Core MSCI All Country World ex Canada Index ETF (XAW.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 lower than XAW.TO's 14.15% return. Both investments have delivered pretty close results over the past 10 years, with XUH.TO having a 13.19% annualized return and XAW.TO not far ahead at 13.26%.

XUH.TO

1D
-0.66%
1M
4.13%
YTD
9.59%
6M
9.67%
1Y
24.90%
3Y*
19.81%
5Y*
11.17%
10Y*
13.19%

XAW.TO

1D
0.40%
1M
6.30%
YTD
14.15%
6M
12.98%
1Y
31.14%
3Y*
21.98%
5Y*
14.05%
10Y*
13.26%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
XUH.TO
iShares Core S&P U.S. Total Market Index ETF (CAD-Hedged)		9.59%15.11%22.45%24.06%-20.19%26.19%15.53%28.46%-7.51%20.10%
XAW.TO
iShares Core MSCI All Country World ex Canada Index ETF		14.15%15.87%26.31%18.45%-11.84%18.38%12.37%19.82%-2.28%16.10%

Correlation

The correlation between XUH.TO and XAW.TO is 0.85, 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

0.85

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

0.85

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

0.85

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

0.79

Correlation (All Time)
Calculated using the full available price history since Feb 23, 2015

0.72

The correlation between XUH.TO and XAW.TO shifts across timeframes, from 0.72 (all time) to 0.85 (5 years), reflecting how their relationship changes across market environments.

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

Sectors
XUH.TO
XAW.TO

Technology

38.5%
32.6%

Financial Services

11.0%
13.7%

Communication Services

10.2%
8.7%

Consumer Cyclical

9.6%
8.8%

Industrials

8.3%
9.1%

Healthcare

8.2%
7.8%

Consumer Defensive

4.4%
4.6%

Energy

3.3%
3.3%

Utilities

2.5%
2.2%

Real Estate

2.0%
1.4%

Basic Materials

1.8%
2.8%

Technology

XUH.TO
38.5%
XAW.TO
32.6%

Financial Services

XUH.TO
11.0%
XAW.TO
13.7%

Communication Services

XUH.TO
10.2%
XAW.TO
8.7%

Consumer Cyclical

XUH.TO
9.6%
XAW.TO
8.8%

Industrials

XUH.TO
8.3%
XAW.TO
9.1%

Healthcare

XUH.TO
8.2%
XAW.TO
7.8%

Consumer Defensive

XUH.TO
4.4%
XAW.TO
4.6%

Energy

XUH.TO
3.3%
XAW.TO
3.3%

Utilities

XUH.TO
2.5%
XAW.TO
2.2%

Real Estate

XUH.TO
2.0%
XAW.TO
1.4%

Basic Materials

XUH.TO
1.8%
XAW.TO
2.8%

Compare stocks, funds, or ETFs

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

iShares Core MSCI All Country World ex Canada Index ETF

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 XAW.TO:
XAW.TO vs. XEQT.TOXAW.TO vs. VXC.TOXAW.TO vs. VEQT.TOXAW.TO vs. XUU.TOXAW.TO vs. XIC.TOXAW.TO vs. XGRO.TOXAW.TO vs. VT

Return for Risk

XUH.TO vs. XAW.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: 6161
Overall Rank
XUH.TO Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
XUH.TO Sortino Ratio Rank: 6161
Sortino Ratio Rank
XUH.TO Omega Ratio Rank: 6161
Omega Ratio Rank
XUH.TO Calmar Ratio Rank: 5555
Calmar Ratio Rank
XUH.TO Martin Ratio Rank: 6767
Martin Ratio Rank
XAW.TO
XAW.TO Risk / Return Rank: 8080
Overall Rank
XAW.TO Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
XAW.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
XAW.TO Omega Ratio Rank: 8282
Omega Ratio Rank
XAW.TO Calmar Ratio Rank: 7777
Calmar Ratio Rank
XAW.TO Martin Ratio Rank: 7979
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. XAW.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 iShares Core MSCI All Country World ex Canada Index ETF (XAW.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.TOXAW.TODifference
Sharpe ratioReturn per unit of total volatility
2.02
2.55

-0.53

Sortino ratioReturn per unit of downside risk
2.82
3.55

-0.73

Omega ratioGain probability vs. loss probability

1.36

1.49

-0.12

Calmar ratioReturn relative to maximum drawdown

2.66

3.84

-1.17

Martin ratioReturn relative to average drawdown

12.06

15.47

-3.41

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. XAW.TO - Sharpe Ratio Comparison

The current XUH.TO Sharpe Ratio is 2.02, which is comparable to the XAW.TO Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of XUH.TO and XAW.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.TOXAW.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.02

2.55

-0.53

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.66

1.04

-0.38

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.71

0.88

-0.17

Sharpe Ratio (All Time)

Calculated using the full available price history

0.64

0.79

-0.15

Drawdowns

XUH.TO vs. XAW.TO - Drawdown Comparison

The maximum XUH.TO drawdown since its inception was -38.37%, which is greater than XAW.TO's maximum drawdown of -27.32%. Use the drawdown chart below to compare losses from any high point for XUH.TO and XAW.TO.

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Drawdown Indicators

XUH.TOXAW.TODifference

Max Drawdown

Largest peak-to-trough decline

-38.37%

-27.32%

-11.05%

Max Drawdown (1Y)

Largest decline over 1 year

-9.41%

-8.16%

-1.25%

Max Drawdown (3Y)

Largest decline over 3 years

-19.32%

-16.66%

-2.66%

Max Drawdown (5Y)

Largest decline over 5 years

-26.11%

-21.02%

-5.09%

Max Drawdown (10Y)

Largest decline over 10 years

-38.37%

-27.32%

-11.05%

Current Drawdown

Current decline from peak

-0.66%

0.00%

-0.66%

Average Drawdown

Average peak-to-trough decline

-4.96%

-3.91%

-1.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.07%

2.02%

+0.05%

Volatility

XUH.TO vs. XAW.TO - Volatility Comparison

The current volatility for iShares Core S&P U.S. Total Market Index ETF (CAD-Hedged) (XUH.TO) is 3.21%, while iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO) has a volatility of 4.12%. This indicates that XUH.TO experiences smaller price fluctuations and is considered to be less risky than XAW.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.TOXAW.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.21%

4.12%

-0.91%

Volatility (6M)

Calculated over the trailing 6-month period

9.36%

9.86%

-0.50%

Volatility (1Y)

Calculated over the trailing 1-year period

12.41%

12.25%

+0.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.08%

13.56%

+3.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.70%

15.12%

+3.58%

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

XUH.TO has a 0.08% expense ratio, which is lower than XAW.TO's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XUH.TO vs. XAW.TO - Dividend Comparison

XUH.TO's dividend yield for the trailing twelve months is around 0.82%, less than XAW.TO's 1.16% yield.

PositionTTM20252024202320222021202020192018201720162015
XAW.TO
iShares Core MSCI All Country World ex Canada Index ETF		1.16%1.33%1.61%1.71%1.79%1.77%1.49%2.02%2.29%1.92%1.80%1.83%
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 XAW.TO have a correlation of 0.85, 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 0.22% for XAW.TO.

XUH.TO is categorized as Large Cap Blend Equities, while XAW.TO is Global Equities. XUH.TO tracks Morningstar US Market TR CAD, while XAW.TO tracks Morningstar Gbl GR CAD. Their fees differ too: 0.08% for XUH.TO and 0.22% for XAW.TO.

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