XUSR.TO vs. XSEM.TO

Last updated Jul 16, 2026

XUSR.TO (iShares ESG Advanced MSCI USA Index ETF) and XSEM.TO (iShares ESG Aware MSCI Emerging Markets Index ETF) are both exchange-traded funds - XUSR.TO is a Large Cap Growth Equities fund tracking the MSCI USA Choice ESG Screened Index, while XSEM.TO is a Emerging Markets Equities fund tracking the Morningstar EM GR CAD. Both are passively managed. Over the past 5 years, XUSR.TO returned 14.85%/yr vs 7.54%/yr for XSEM.TO. At a 0.47 correlation, their price movements are largely independent. XUSR.TO charges 0.23%/yr vs 0.32%/yr for XSEM.TO.

Performance

XUSR.TO vs. XSEM.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares ESG Advanced MSCI USA Index ETF (XUSR.TO) and iShares ESG Aware MSCI Emerging Markets Index ETF (XSEM.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with XUSR.TO having a 19.89% return and XSEM.TO slightly higher at 20.20%.

XUSR.TO

• 1D: -1.31%
• 1M: -1.86%
• 6M: 16.85%
• YTD: 19.89%
• 1Y: 24.63%
• 3Y*: 23.86%
• 5Y*: 14.85%
• 10Y*: —

XSEM.TO

• 1D: -0.30%
• 1M: -5.34%
• 6M: 15.56%
• YTD: 20.20%
• 1Y: 33.75%
• 3Y*: 20.70%
• 5Y*: 7.54%
• 10Y*: —

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

XUSR.TO vs. XSEM.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
XUSR.TO iShares ESG Advanced MSCI USA Index ETF	19.89%	9.23%	32.46%	29.28%	-17.20%	24.47%	27.03%
XSEM.TO iShares ESG Aware MSCI Emerging Markets Index ETF	20.20%	27.51%	14.79%	7.01%	-17.30%	-3.60%	30.57%

Correlation

The correlation between XUSR.TO and XSEM.TO is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since Apr 23, 2020	0.47

The correlation between XUSR.TO and XSEM.TO shifts across timeframes, from 0.47 (all time) to 0.64 (1 year), reflecting how their relationship changes across market environments.

XUSR.TO vs. XSEM.TO - Sectors Allocation Comparison

Sectors	XUSR.TO	XSEM.TO
Technology	54.1%	44.1%
Financial Services	15.3%	22.1%
Industrials	7.9%	5.2%
Consumer Cyclical	6.6%	7.6%
Healthcare	5.8%	2.5%
Real Estate	3.8%	1.0%
Basic Materials	2.4%	4.8%
Communication Services	1.7%	7.4%
Utilities	1.3%	1.3%
Consumer Defensive	1.0%	2.0%
Energy	0.1%	1.9%

Return for Risk

XUSR.TO vs. XSEM.TO — Risk / Return Rank

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

XUSR.TO

XUSR.TO Risk / Return Rank: 47
XUSR.TO Sharpe Ratio Rank: 47
XUSR.TO Sortino Ratio Rank: 42
XUSR.TO Omega Ratio Rank: 45
XUSR.TO Calmar Ratio Rank: 52
XUSR.TO Martin Ratio Rank: 47

XSEM.TO

XSEM.TO Risk / Return Rank: 57
XSEM.TO Sharpe Ratio Rank: 52
XSEM.TO Sortino Ratio Rank: 47
XSEM.TO Omega Ratio Rank: 56
XSEM.TO Calmar Ratio Rank: 68
XSEM.TO Martin Ratio Rank: 62

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.

XUSR.TO vs. XSEM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Advanced MSCI USA Index ETF (XUSR.TO) and iShares ESG Aware MSCI Emerging Markets Index ETF (XSEM.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	XUSR.TO	XSEM.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.45	-0.11
Sortino ratio: Return per unit of downside risk	1.82	1.96	-0.14
Omega ratio: Gain probability vs. loss probability	1.24	1.28	-0.04
Calmar ratio: Return relative to maximum drawdown	2.15	2.76	-0.61
Martin ratio: Return relative to average drawdown	6.29	8.82	-2.53

XUSR.TO vs. XSEM.TO - Sharpe Ratio Comparison

The current XUSR.TO Sharpe Ratio is 1.34, which is comparable to the XSEM.TO Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of XUSR.TO and XSEM.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.

Drawdowns

XUSR.TO vs. XSEM.TO - Drawdown Comparison

The maximum XUSR.TO drawdown since its inception was -31.17%, smaller than the maximum XSEM.TO drawdown of -37.09%. Use the drawdown chart below to compare losses from any high point for XUSR.TO and XSEM.TO.

Drawdown Indicators

	XUSR.TO	XSEM.TO	Difference
Max Drawdown Largest peak-to-trough decline	-31.17%	-37.09%	+5.92%
Max Drawdown (1Y) Largest decline over 1 year	-11.52%	-12.30%	+0.78%
Max Drawdown (3Y) Largest decline over 3 years	-23.01%	-15.18%	-7.83%
Max Drawdown (5Y) Largest decline over 5 years	-31.17%	-32.59%	+1.42%
Current Drawdown Current decline from peak	-3.94%	-8.26%	+4.32%
Average Drawdown Average peak-to-trough decline	-7.89%	-13.08%	+5.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.93%	3.84%	+0.09%

Volatility

XUSR.TO vs. XSEM.TO - Volatility Comparison

The current volatility for iShares ESG Advanced MSCI USA Index ETF (XUSR.TO) is 6.80%, while iShares ESG Aware MSCI Emerging Markets Index ETF (XSEM.TO) has a volatility of 10.44%. This indicates that XUSR.TO experiences smaller price fluctuations and is considered to be less risky than XSEM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XUSR.TO	XSEM.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.80%	10.44%	-3.64%
Volatility (6M) Calculated over the trailing 6-month period	14.89%	21.44%	-6.55%
Volatility (1Y) Calculated over the trailing 1-year period	18.41%	23.39%	-4.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.47%	18.04%	+2.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.87%	18.81%	+5.06%

XUSR.TO vs. XSEM.TO - Expense Ratio Comparison

XUSR.TO has a 0.23% expense ratio, which is lower than XSEM.TO's 0.32% expense ratio.

Dividends

XUSR.TO vs. XSEM.TO - Dividend Comparison

XUSR.TO's dividend yield for the trailing twelve months is around 0.58%, less than XSEM.TO's 1.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
XSEM.TO iShares ESG Aware MSCI Emerging Markets Index ETF	1.56%	1.78%	2.08%	1.10%	2.25%	2.45%	1.14%	2.41%
XUSR.TO iShares ESG Advanced MSCI USA Index ETF	0.58%	0.67%	0.69%	0.93%	1.01%	0.66%	0.34%	0.00%

Frequently Asked Questions

Can I hold both XUSR.TO and XSEM.TO in my portfolio?

XUSR.TO and XSEM.TO have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XUSR.TO or XSEM.TO?

On fees, XUSR.TO is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XUSR.TO or XSEM.TO?

XUSR.TO is cheaper with a 0.23% expense ratio, compared with 0.32% for XSEM.TO.

What is the main difference between XUSR.TO and XSEM.TO?

XUSR.TO is categorized as Large Cap Growth Equities, while XSEM.TO is Emerging Markets Equities. XUSR.TO tracks MSCI USA Choice ESG Screened Index, while XSEM.TO tracks Morningstar EM GR CAD. Their fees differ too: 0.23% for XUSR.TO and 0.32% for XSEM.TO.