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XUU.TO vs. XSP.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XUU.TO vs. XSP.TO

Last updated Jun 25, 2026

XUU.TO (iShares Core S&P U.S. Total Market Index ETF) and XSP.TO (iShares Core S&P 500 Index ETF (CAD-Hedged)) are both exchange-traded funds - XUU.TO is a Large Cap Blend Equities fund tracking the S&P Total Market Index, while XSP.TO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, XUU.TO returned 15.75%/yr vs 13.49%/yr for XSP.TO. Their correlation of 0.82 suggests significant overlap in exposure. XUU.TO charges 0.07%/yr vs 0.09%/yr for XSP.TO.

Performance

XUU.TO vs. XSP.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 (XUU.TO) and iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.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, XUU.TO achieves a 12.56% return, which is significantly higher than XSP.TO's 6.62% return. Over the past 10 years, XUU.TO has outperformed XSP.TO with an annualized return of 15.75%, while XSP.TO has yielded a comparatively lower 13.49% annualized return.

XUU.TO

1D
-0.06%
1M
0.52%
YTD
12.56%
6M
11.52%
1Y
26.41%
3Y*
23.30%
5Y*
15.12%
10Y*
15.75%

XSP.TO

1D
-0.11%
1M
-3.08%
YTD
6.62%
6M
5.33%
1Y
19.35%
3Y*
18.59%
5Y*
10.64%
10Y*
13.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XUU.TO vs. XSP.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XUU.TO
iShares Core S&P U.S. Total Market Index ETF		12.56%11.25%34.07%23.11%-13.53%25.94%16.26%23.78%2.43%12.80%
XSP.TO
iShares Core S&P 500 Index ETF (CAD-Hedged)		6.62%15.68%23.39%24.33%-19.32%24.27%15.16%29.37%-6.25%20.69%

Correlation

The correlation between XUU.TO and XSP.TO is 0.90, 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

0.90

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

0.90

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

0.90

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

0.85

Correlation (All Time)
Calculated using the full available price history since Feb 18, 2015

0.82

The correlation between XUU.TO and XSP.TO has been stable across timeframes, ranging from 0.82 to 0.90 - a consistent structural relationship.

XUU.TO vs. XSP.TO - Sectors Allocation Comparison

Sectors
XUU.TO
XSP.TO

Technology

37.0%
38.4%

Financial Services

11.4%
11.0%

Communication Services

10.0%
10.8%

Consumer Cyclical

10.0%
10.0%

Industrials

9.0%
7.9%

Healthcare

8.6%
8.4%

Consumer Defensive

4.4%
4.6%

Energy

3.3%
3.2%

Real Estate

2.3%
1.8%

Utilities

2.2%
2.1%

Basic Materials

1.9%
1.7%

Technology

XUU.TO
37.0%
XSP.TO
38.4%

Financial Services

XUU.TO
11.4%
XSP.TO
11.0%

Communication Services

XUU.TO
10.0%
XSP.TO
10.8%

Consumer Cyclical

XUU.TO
10.0%
XSP.TO
10.0%

Industrials

XUU.TO
9.0%
XSP.TO
7.9%

Healthcare

XUU.TO
8.6%
XSP.TO
8.4%

Consumer Defensive

XUU.TO
4.4%
XSP.TO
4.6%

Energy

XUU.TO
3.3%
XSP.TO
3.2%

Real Estate

XUU.TO
2.3%
XSP.TO
1.8%

Utilities

XUU.TO
2.2%
XSP.TO
2.1%

Basic Materials

XUU.TO
1.9%
XSP.TO
1.7%

Compare stocks, funds, or ETFs

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iShares Core S&P U.S. Total Market Index ETF

iShares Core S&P 500 Index ETF (CAD-Hedged)

Often compared with XUU.TO:
XUU.TO vs. XUS.TOXUU.TO vs. VUN.TOXUU.TO vs. XAW.TOXUU.TO vs. XUU-U.TOXUU.TO vs. XIC.TOXUU.TO vs. VTIXUU.TO vs. VOO
Often compared with XSP.TO:
XSP.TO vs. XUS.TOXSP.TO vs. XEQT.TOXSP.TO vs. ZSP.TOXSP.TO vs. VSP.TOXSP.TO vs. XIU.TOXSP.TO vs. XQQ.TOXSP.TO vs. VFVA

Return for Risk

XUU.TO vs. XSP.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XUU.TO
XUU.TO Risk / Return Rank: 7171
Overall Rank
XUU.TO Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
XUU.TO Sortino Ratio Rank: 7272
Sortino Ratio Rank
XUU.TO Omega Ratio Rank: 7474
Omega Ratio Rank
XUU.TO Calmar Ratio Rank: 6767
Calmar Ratio Rank
XUU.TO Martin Ratio Rank: 6969
Martin Ratio Rank
XSP.TO
XSP.TO Risk / Return Rank: 5050
Overall Rank
XSP.TO Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
XSP.TO Sortino Ratio Rank: 4848
Sortino Ratio Rank
XSP.TO Omega Ratio Rank: 4949
Omega Ratio Rank
XSP.TO Calmar Ratio Rank: 4646
Calmar Ratio Rank
XSP.TO Martin Ratio Rank: 5757
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.

XUU.TO vs. XSP.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 (XUU.TO) and iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.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.

XUU.TOXSP.TODifference
Sharpe ratioReturn per unit of total volatility
2.12
1.57

+0.55

Sortino ratioReturn per unit of downside risk
2.89
2.18

+0.72

Omega ratioGain probability vs. loss probability

1.39

1.28

+0.11

Calmar ratioReturn relative to maximum drawdown

3.01

2.07

+0.95

Martin ratioReturn relative to average drawdown

11.32

9.15

+2.18

XUU.TO vs. XSP.TO - Sharpe Ratio Comparison

The current XUU.TO Sharpe Ratio is 2.12, which is higher than the XSP.TO Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of XUU.TO and XSP.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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Drawdowns

XUU.TO vs. XSP.TO - Drawdown Comparison

The maximum XUU.TO drawdown since its inception was -28.22%, smaller than the maximum XSP.TO drawdown of -57.71%. Use the drawdown chart below to compare losses from any high point for XUU.TO and XSP.TO.

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Drawdown Indicators

XUU.TOXSP.TODifference

Max Drawdown

Largest peak-to-trough decline

-28.22%

-57.71%

+29.49%

Max Drawdown (1Y)

Largest decline over 1 year

-8.80%

-9.41%

+0.61%

Max Drawdown (3Y)

Largest decline over 3 years

-19.70%

-18.77%

-0.93%

Max Drawdown (5Y)

Largest decline over 5 years

-23.40%

-27.51%

+4.11%

Max Drawdown (10Y)

Largest decline over 10 years

-28.22%

-36.05%

+7.83%

Current Drawdown

Current decline from peak

-1.81%

-3.46%

+1.65%

Average Drawdown

Average peak-to-trough decline

-4.14%

-9.46%

+5.32%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.34%

2.12%

+0.22%

Volatility

XUU.TO vs. XSP.TO - Volatility Comparison

The current volatility for iShares Core S&P U.S. Total Market Index ETF (XUU.TO) is 4.52%, while iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) has a volatility of 4.78%. This indicates that XUU.TO experiences smaller price fluctuations and is considered to be less risky than XSP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XUU.TOXSP.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.52%

4.78%

-0.26%

Volatility (6M)

Calculated over the trailing 6-month period

9.82%

9.86%

-0.04%

Volatility (1Y)

Calculated over the trailing 1-year period

12.56%

12.39%

+0.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.53%

16.90%

-1.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.63%

18.23%

-1.60%

XUU.TO vs. XSP.TO - Expense Ratio Comparison

XUU.TO has a 0.07% expense ratio, which is lower than XSP.TO's 0.09% 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

XUU.TO vs. XSP.TO - Dividend Comparison

XUU.TO's dividend yield for the trailing twelve months is around 1.01%, less than XSP.TO's 1.15% yield.

PositionTTM20252024202320222021202020192018201720162015
XSP.TO
iShares Core S&P 500 Index ETF (CAD-Hedged)		1.15%1.23%1.09%1.18%1.37%1.01%1.31%1.73%1.86%1.45%1.76%1.88%
XUU.TO
iShares Core S&P U.S. Total Market Index ETF		1.01%1.16%1.02%1.22%1.38%1.01%1.33%1.68%1.74%1.49%1.65%1.53%

Frequently Asked Questions

With a correlation of 0.90, XUU.TO and XSP.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, XUU.TO is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XUU.TO is cheaper with a 0.07% expense ratio, compared with 0.09% for XSP.TO.

XUU.TO is categorized as Large Cap Blend Equities, while XSP.TO is S&P 500. XUU.TO tracks S&P Total Market Index, while XSP.TO tracks S&P 500 Index. Their fees differ too: 0.07% for XUU.TO and 0.09% for XSP.TO.

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