XWD.TO vs. XUS.TO
XWD.TO (iShares MSCI World Index ETF) and XUS.TO (iShares Core S&P 500 Index ETF) are both exchange-traded funds - XWD.TO is a Global Equities fund tracking the Morningstar Gbl GR CAD, while XUS.TO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, XWD.TO returned 13.45%/yr vs 15.98%/yr for XUS.TO. Their correlation of 0.87 suggests significant overlap in exposure. XWD.TO charges 0.48%/yr vs 0.09%/yr for XUS.TO.
Performance
XWD.TO vs. XUS.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XWD.TO achieves a 11.42% return, which is significantly lower than XUS.TO's 12.21% return. Over the past 10 years, XWD.TO has underperformed XUS.TO with an annualized return of 13.45%, while XUS.TO has yielded a comparatively higher 15.98% annualized return.
XWD.TO
- 1D
- -0.47%
- 1M
- 6.72%
- YTD
- 11.42%
- 6M
- 10.29%
- 1Y
- 27.27%
- 3Y*
- 21.42%
- 5Y*
- 14.76%
- 10Y*
- 13.45%
XUS.TO
- 1D
- -0.31%
- 1M
- 7.22%
- YTD
- 12.21%
- 6M
- 10.39%
- 1Y
- 29.30%
- 3Y*
- 23.52%
- 5Y*
- 16.78%
- 10Y*
- 15.98%
XWD.TO vs. XUS.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XWD.TO iShares MSCI World Index ETF | 11.42% | 15.25% | 28.07% | 20.32% | -11.57% | 21.87% | 11.41% | 21.44% | -1.52% | 14.42% |
XUS.TO iShares Core S&P 500 Index ETF | 12.21% | 12.19% | 35.16% | 23.31% | -12.59% | 27.20% | 15.56% | 24.57% | 3.31% | 13.56% |
Correlation
The correlation between XWD.TO and XUS.TO is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2013 | 0.87 |
The correlation between XWD.TO and XUS.TO has been stable across timeframes, ranging from 0.87 to 0.95 - a consistent structural relationship.
XWD.TO vs. XUS.TO - Sectors Allocation Comparison
Sectors
XWD.TO
XUS.TO
Technology
Financial Services
Industrials
Consumer Cyclical
Communication Services
Healthcare
Consumer Defensive
Energy
Basic Materials
Utilities
Real Estate
Technology
XWD.TO
XUS.TO
Financial Services
XWD.TO
XUS.TO
Industrials
XWD.TO
XUS.TO
Consumer Cyclical
XWD.TO
XUS.TO
Communication Services
XWD.TO
XUS.TO
Healthcare
XWD.TO
XUS.TO
Consumer Defensive
XWD.TO
XUS.TO
Energy
XWD.TO
XUS.TO
Basic Materials
XWD.TO
XUS.TO
Utilities
XWD.TO
XUS.TO
Real Estate
XWD.TO
XUS.TO
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Return for Risk
XWD.TO vs. XUS.TO — Risk / Return Rank
XWD.TO
XUS.TO
XWD.TO vs. XUS.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World Index ETF (XWD.TO) and iShares Core S&P 500 Index ETF (XUS.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.
| XWD.TO | XUS.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.47 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.55 | 3.41 | +0.14 |
| Martin ratioReturn relative to average drawdown | 14.52 | 12.94 | +1.58 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XWD.TO | XUS.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.35 | 2.55 | -0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.08 | 1.13 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | 0.98 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | 1.08 | -0.18 |
Drawdowns
XWD.TO vs. XUS.TO - Drawdown Comparison
The maximum XWD.TO drawdown since its inception was -27.48%, roughly equal to the maximum XUS.TO drawdown of -27.23%. Use the drawdown chart below to compare losses from any high point for XWD.TO and XUS.TO.
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Drawdown Indicators
| XWD.TO | XUS.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.48% | -27.23% | -0.25% |
Max Drawdown (1Y)Largest decline over 1 year | -7.71% | -8.63% | +0.92% |
Max Drawdown (3Y)Largest decline over 3 years | -16.77% | -18.96% | +2.19% |
Max Drawdown (5Y)Largest decline over 5 years | -21.40% | -21.85% | +0.45% |
Max Drawdown (10Y)Largest decline over 10 years | -27.48% | -27.23% | -0.25% |
Current DrawdownCurrent decline from peak | -0.80% | -0.31% | -0.49% |
Average DrawdownAverage peak-to-trough decline | -3.50% | -3.46% | -0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.88% | 2.27% | -0.39% |
Volatility
XWD.TO vs. XUS.TO - Volatility Comparison
iShares MSCI World Index ETF (XWD.TO) has a higher volatility of 3.61% compared to iShares Core S&P 500 Index ETF (XUS.TO) at 3.19%. This indicates that XWD.TO's price experiences larger fluctuations and is considered to be riskier than XUS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XWD.TO | XUS.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.61% | 3.19% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 9.03% | 8.66% | +0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.67% | 11.58% | +0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.71% | 14.92% | -1.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.36% | 16.48% | -1.12% |
XWD.TO vs. XUS.TO - Expense Ratio Comparison
XWD.TO has a 0.48% expense ratio, which is higher than XUS.TO's 0.09% expense ratio.
Dividends
XWD.TO vs. XUS.TO - Dividend Comparison
XWD.TO's dividend yield for the trailing twelve months is around 1.19%, more than XUS.TO's 1.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XUS.TO iShares Core S&P 500 Index ETF | 1.12% | 1.26% | 1.03% | 1.22% | 1.38% | 0.99% | 1.35% | 2.02% | 1.77% | 1.48% | 1.66% | 1.70% |
XWD.TO iShares MSCI World Index ETF | 1.19% | 1.33% | 1.19% | 1.39% | 1.36% | 1.21% | 1.06% | 1.77% | 1.94% | 1.63% | 1.83% | 1.84% |
Frequently Asked Questions
With a correlation of 0.95, XWD.TO and XUS.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, XUS.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUS.TO is cheaper with a 0.09% expense ratio, compared with 0.48% for XWD.TO.
XWD.TO is categorized as Global Equities, while XUS.TO is S&P 500. XWD.TO tracks Morningstar Gbl GR CAD, while XUS.TO tracks S&P 500 Index. Their fees differ too: 0.48% for XWD.TO and 0.09% for XUS.TO.
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