XUS-U.TO vs. XPP

Last updated Jun 4, 2026

XUS-U.TO (iShares Core S&P 500 Index ETF) and XPP (ProShares Ultra FTSE China 50) are both exchange-traded funds - XUS-U.TO is a S&P 500 fund tracking the S&P 500 Index, while XPP is a Leveraged Equities fund tracking the FTSE/Xinhua China 25 Index (200%). Both are passively managed. Over the past 5 years, XUS-U.TO returned 13.33%/yr vs -20.12%/yr for XPP. At a 0.39 correlation, their price movements are largely independent. XUS-U.TO charges 0.09%/yr vs 0.95%/yr for XPP.

Performance

XUS-U.TO vs. XPP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core S&P 500 Index ETF (XUS-U.TO) and ProShares Ultra FTSE China 50 (XPP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XUS-U.TO achieves a 10.51% return, which is significantly higher than XPP's -17.68% return.

XUS-U.TO

• 1D: -0.44%
• 1M: 5.35%
• YTD: 10.51%
• 6M: 10.77%
• 1Y: 27.81%
• 3Y*: 21.82%
• 5Y*: 13.33%
• 10Y*: —

XPP

• 1D: -4.83%
• 1M: -6.40%
• YTD: -17.68%
• 6M: -20.01%
• 1Y: -5.89%
• 3Y*: 7.34%
• 5Y*: -20.12%
• 10Y*: -5.30%

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

XUS-U.TO vs. XPP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XUS-U.TO iShares Core S&P 500 Index ETF	10.51%	17.66%	24.36%	26.17%	-19.01%	27.74%	18.01%	8.12%
XPP ProShares Ultra FTSE China 50	-17.68%	45.84%	38.18%	-34.77%	-50.06%	-40.45%	7.07%	13.93%

Correlation

The correlation between XUS-U.TO and XPP is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (All Time) Calculated using the full available price history since Oct 16, 2019	0.39

Return for Risk

XUS-U.TO vs. XPP — Risk / Return Rank

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

XUS-U.TO

XUS-U.TO Risk / Return Rank: 68
XUS-U.TO Sharpe Ratio Rank: 68
XUS-U.TO Sortino Ratio Rank: 69
XUS-U.TO Omega Ratio Rank: 68
XUS-U.TO Calmar Ratio Rank: 60
XUS-U.TO Martin Ratio Rank: 74

XPP

XPP Risk / Return Rank: 7
XPP Sharpe Ratio Rank: 7
XPP Sortino Ratio Rank: 8
XPP Omega Ratio Rank: 8
XPP Calmar Ratio Rank: 7
XPP Martin Ratio Rank: 7

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.

XUS-U.TO vs. XPP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 Index ETF (XUS-U.TO) and ProShares Ultra FTSE China 50 (XPP). 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.

	XUS-U.TO	XPP	Difference
Sharpe ratio: Return per unit of total volatility	2.30	-0.15	+2.45
Sortino ratio: Return per unit of downside risk	3.23	0.06	+3.17
Omega ratio: Gain probability vs. loss probability	1.42	1.01	+0.41
Calmar ratio: Return relative to maximum drawdown	3.00	-0.18	+3.18
Martin ratio: Return relative to average drawdown	14.33	-0.37	+14.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XUS-U.TO vs. XPP - Sharpe Ratio Comparison

The current XUS-U.TO Sharpe Ratio is 2.30, which is higher than the XPP Sharpe Ratio of -0.15. The chart below compares the historical Sharpe Ratios of XUS-U.TO and XPP, 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

	XUS-U.TO	XPP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	-0.15	+2.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	-0.32	+1.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	-0.09	+0.94

Drawdowns

XUS-U.TO vs. XPP - Drawdown Comparison

The maximum XUS-U.TO drawdown since its inception was -33.55%, smaller than the maximum XPP drawdown of -89.90%. Use the drawdown chart below to compare losses from any high point for XUS-U.TO and XPP.

Drawdown Indicators

	XUS-U.TO	XPP	Difference
Max Drawdown Largest peak-to-trough decline	-33.55%	-89.90%	+56.35%
Max Drawdown (1Y) Largest decline over 1 year	-9.30%	-32.60%	+23.30%
Max Drawdown (3Y) Largest decline over 3 years	-18.65%	-52.95%	+34.30%
Max Drawdown (5Y) Largest decline over 5 years	-25.06%	-85.24%	+60.18%
Max Drawdown (10Y) Largest decline over 10 years	—	-89.90%	—
Current Drawdown Current decline from peak	-0.44%	-78.21%	+77.77%
Average Drawdown Average peak-to-trough decline	-5.51%	-47.82%	+42.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	15.95%	-14.00%

Volatility

XUS-U.TO vs. XPP - Volatility Comparison

The current volatility for iShares Core S&P 500 Index ETF (XUS-U.TO) is 2.85%, while ProShares Ultra FTSE China 50 (XPP) has a volatility of 14.45%. This indicates that XUS-U.TO experiences smaller price fluctuations and is considered to be less risky than XPP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XUS-U.TO	XPP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	14.45%	-11.60%
Volatility (6M) Calculated over the trailing 6-month period	9.26%	28.79%	-19.53%
Volatility (1Y) Calculated over the trailing 1-year period	12.15%	39.27%	-27.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.68%	62.75%	-46.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.19%	54.91%	-35.72%

XUS-U.TO vs. XPP - Expense Ratio Comparison

XUS-U.TO has a 0.09% expense ratio, which is lower than XPP's 0.95% expense ratio.

Dividends

XUS-U.TO vs. XPP - Dividend Comparison

XUS-U.TO's dividend yield for the trailing twelve months is around 0.82%, less than XPP's 2.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
XPP ProShares Ultra FTSE China 50	2.63%	2.32%	2.96%	2.87%	0.00%	0.00%	0.00%	3.81%	1.47%
XUS-U.TO iShares Core S&P 500 Index ETF	0.82%	0.91%	0.74%	0.90%	1.04%	0.71%	0.91%	0.04%	0.00%

Frequently Asked Questions

Can I hold both XUS-U.TO and XPP in my portfolio?

XUS-U.TO and XPP have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XUS-U.TO or XPP?

On fees, XUS-U.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XUS-U.TO or XPP?

XUS-U.TO is cheaper with a 0.09% expense ratio, compared with 0.95% for XPP.

What is the main difference between XUS-U.TO and XPP?

XUS-U.TO is categorized as S&P 500, while XPP is Leveraged Equities. XUS-U.TO tracks S&P 500 Index, while XPP tracks FTSE/Xinhua China 25 Index (200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.09% for XUS-U.TO and 0.95% for XPP.