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XUT.TO vs. INDA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XUT.TO vs. INDA

Last updated Jun 14, 2026

XUT.TO (iShares S&P/TSX Capped Utilities Index ETF) and INDA (iShares MSCI India ETF) are both exchange-traded funds - XUT.TO is a Utilities Equities fund tracking the Morningstar Gbl GR CAD, while INDA is a Asia Pacific Equities fund tracking the MSCI India Index. Both are passively managed. Over the past 10 years, XUT.TO returned 8.96%/yr vs 8.01%/yr for INDA. At a 0.22 correlation, their price movements are largely independent. XUT.TO charges 0.61%/yr vs 0.69%/yr for INDA.

Performance

XUT.TO vs. INDA - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) and iShares MSCI India ETF (INDA). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XUT.TO is traded in CAD, while INDA is traded in USD. To make them comparable, the INDA values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XUT.TO achieves a 16.33% return, which is significantly higher than INDA's -8.77% return. Over the past 10 years, XUT.TO has outperformed INDA with an annualized return of 8.96%, while INDA has yielded a comparatively lower 8.01% annualized return.

XUT.TO

1D
0.05%
1M
4.08%
YTD
16.33%
6M
13.38%
1Y
21.77%
3Y*
12.14%
5Y*
6.77%
10Y*
8.96%

INDA

1D
1.32%
1M
1.89%
YTD
-8.77%
6M
-7.75%
1Y
-8.09%
3Y*
6.08%
5Y*
5.81%
10Y*
8.01%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XUT.TO vs. INDA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XUT.TO
iShares S&P/TSX Capped Utilities Index ETF		16.33%14.74%13.09%-0.45%-11.02%8.92%14.74%36.63%-8.30%10.16%
INDA
iShares MSCI India ETF		-8.77%-2.01%17.83%14.37%-3.17%21.30%12.10%2.10%1.18%26.86%

Correlation

The correlation between XUT.TO and INDA is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.06

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

0.18

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

0.17

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

0.18

Correlation (All Time)
Calculated using the full available price history since Feb 3, 2012

0.22

The correlation between XUT.TO and INDA shifts across timeframes, from 0.06 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.

XUT.TO vs. INDA - Sectors Allocation Comparison

Sectors
XUT.TO
INDA

Utilities

90.7%
4.4%

Energy

9.3%
9.1%

Basic Materials

-

8.6%

Communication Services

-

5.1%

Consumer Cyclical

-

12.0%

Consumer Defensive

-

5.8%

Financial Services

-

28.9%

Healthcare

-

6.1%

Industrials

-

10.6%

Real Estate

-

1.3%

Technology

-

8.0%

Utilities

XUT.TO
90.7%
INDA
4.4%

Energy

XUT.TO
9.3%
INDA
9.1%

Basic Materials

XUT.TO

-

INDA
8.6%

Communication Services

XUT.TO

-

INDA
5.1%

Consumer Cyclical

XUT.TO

-

INDA
12.0%

Consumer Defensive

XUT.TO

-

INDA
5.8%

Financial Services

XUT.TO

-

INDA
28.9%

Healthcare

XUT.TO

-

INDA
6.1%

Industrials

XUT.TO

-

INDA
10.6%

Real Estate

XUT.TO

-

INDA
1.3%

Technology

XUT.TO

-

INDA
8.0%

Compare stocks, funds, or ETFs

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iShares S&P/TSX Capped Utilities Index ETF

iShares MSCI India ETF

Often compared with XUT.TO:
XUT.TO vs. ZUT.TOXUT.TO vs. XEI.TOXUT.TO vs. ZLB.TOXUT.TO vs. XIU.TOXUT.TO vs. XLUXUT.TO vs. UTES.TOXUT.TO vs. VPU
Often compared with INDA:
INDA vs. FLININDA vs. INDYINDA vs. EPIINDA vs. SMININDA vs. VOOINDA vs. MCHIINDA vs. VNM

Return for Risk

XUT.TO vs. INDA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XUT.TO
XUT.TO Risk / Return Rank: 7575
Overall Rank
XUT.TO Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
XUT.TO Sortino Ratio Rank: 8383
Sortino Ratio Rank
XUT.TO Omega Ratio Rank: 8989
Omega Ratio Rank
XUT.TO Calmar Ratio Rank: 6565
Calmar Ratio Rank
XUT.TO Martin Ratio Rank: 5353
Martin Ratio Rank
INDA
INDA Risk / Return Rank: 33
Overall Rank
INDA Sharpe Ratio Rank: 33
Sharpe Ratio Rank
INDA Sortino Ratio Rank: 33
Sortino Ratio Rank
INDA Omega Ratio Rank: 33
Omega Ratio Rank
INDA Calmar Ratio Rank: 44
Calmar Ratio Rank
INDA Martin Ratio Rank: 22
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.

XUT.TO vs. INDA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) and iShares MSCI India ETF (INDA). 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.

XUT.TOINDADifference
Sharpe ratioReturn per unit of total volatility
2.48
-0.64

+3.12

Sortino ratioReturn per unit of downside risk
3.20
-0.85

+4.05

Omega ratioGain probability vs. loss probability

1.49

0.90

+0.59

Calmar ratioReturn relative to maximum drawdown

2.83

-0.53

+3.37

Martin ratioReturn relative to average drawdown

8.04

-1.17

+9.22

XUT.TO vs. INDA - Sharpe Ratio Comparison

The current XUT.TO Sharpe Ratio is 2.48, which is higher than the INDA Sharpe Ratio of -0.64. The chart below compares the historical Sharpe Ratios of XUT.TO and INDA, 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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Drawdowns

XUT.TO vs. INDA - Drawdown Comparison

The maximum XUT.TO drawdown since its inception was -37.65%, roughly equal to the maximum INDA drawdown of -39.13%. Use the drawdown chart below to compare losses from any high point for XUT.TO and INDA.

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Drawdown Indicators

XUT.TOINDADifference

Max Drawdown

Largest peak-to-trough decline

-37.65%

-39.13%

+1.48%

Max Drawdown (1Y)

Largest decline over 1 year

-7.64%

-18.56%

+10.92%

Max Drawdown (3Y)

Largest decline over 3 years

-17.51%

-20.76%

+3.25%

Max Drawdown (5Y)

Largest decline over 5 years

-28.54%

-20.76%

-7.78%

Max Drawdown (10Y)

Largest decline over 10 years

-37.65%

-39.13%

+1.48%

Current Drawdown

Current decline from peak

0.00%

-15.24%

+15.24%

Average Drawdown

Average peak-to-trough decline

-5.81%

-7.42%

+1.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.69%

8.42%

-5.73%

Volatility

XUT.TO vs. INDA - Volatility Comparison

The current volatility for iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) is 2.56%, while iShares MSCI India ETF (INDA) has a volatility of 4.44%. This indicates that XUT.TO experiences smaller price fluctuations and is considered to be less risky than INDA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XUT.TOINDADifference

Volatility (1M)

Calculated over the trailing 1-month period

2.56%

4.44%

-1.88%

Volatility (6M)

Calculated over the trailing 6-month period

7.57%

13.22%

-5.65%

Volatility (1Y)

Calculated over the trailing 1-year period

8.76%

15.53%

-6.77%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.77%

16.98%

-4.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.17%

22.43%

-6.26%

XUT.TO vs. INDA - Expense Ratio Comparison

XUT.TO has a 0.61% expense ratio, which is lower than INDA's 0.69% expense ratio.

Dividends

XUT.TO vs. INDA - Dividend Comparison

XUT.TO's dividend yield for the trailing twelve months is around 3.25%, while INDA has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
INDA
iShares MSCI India ETF		0.00%0.00%0.76%0.16%0.00%6.44%0.27%0.99%0.94%1.09%0.90%1.19%
XUT.TO
iShares S&P/TSX Capped Utilities Index ETF		3.25%3.91%4.00%3.90%3.80%3.04%4.51%3.57%4.52%3.57%3.74%4.05%

Frequently Asked Questions

XUT.TO and INDA have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XUT.TO is cheaper at 0.61% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XUT.TO is cheaper with a 0.61% expense ratio, compared with 0.69% for INDA.

XUT.TO is categorized as Utilities Equities, while INDA is Asia Pacific Equities. XUT.TO tracks Morningstar Gbl GR CAD, while INDA tracks MSCI India Index. Their fees differ too: 0.61% for XUT.TO and 0.69% for INDA.

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