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

TSX:XSP
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
XSP
TSX
CA$5B
Market Cap
  1. Home
  2. CA
  3. Diversified Financials
Company description

iShares Core S&P 500 Index ETF (CAD-Hedged) is an exchange traded fund launched and managed by BlackRock Asset Management Canada Limited. The last earnings update was 6 days ago. More info.


Add to Portfolio Compare Print
  • iShares Core S&P 500 Index ETF (CAD-Hedged) is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • iShares Core S&P 500 Index ETF (CAD-Hedged) has significant price volatility in the past 3 months.
XSP Share Price and Events
7 Day Returns
12%
TSX:XSP
2.8%
CA Capital Markets
7.1%
CA Market
1 Year Returns
-12.1%
TSX:XSP
-18.5%
CA Capital Markets
-25.3%
CA Market
XSP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP) 12% -14.9% -21.6% -12.1% 2.8% 16.3%
CA Capital Markets 2.8% -24.6% -26.7% -18.5% -19.3% -20.5%
CA Market 7.1% -24.1% -26.7% -25.3% -23.4% -17.5%
1 Year Return vs Industry and Market
  • XSP outperformed the Capital Markets industry which returned -18.5% over the past year.
  • XSP outperformed the Market in Canada which returned -25.3% over the past year.
Price Volatility
XSP
Industry
5yr Volatility vs Market

Value

 Is iShares Core S&P 500 Index ETF (CAD-Hedged) undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of iShares Core S&P 500 Index ETF (CAD-Hedged) to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for iShares Core S&P 500 Index ETF (CAD-Hedged).

TSX:XSP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= CA$30.40 * 12.2%
CA$3.71
Book Value of Equity per Share Median Book Value from the past 5 years. CA$30.40
Discount Rate (Cost of Equity) See below 7.6%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:XSP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.754 (1 + (1- 26.5%) (0%))
1.135
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (1.135 * 5.44%)
7.61%

Discounted Cash Flow Calculation for TSX:XSP using Excess Returns Model Model

The calculations below outline how an intrinsic value for iShares Core S&P 500 Index ETF (CAD-Hedged) is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

TSX:XSP Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (12.2% – 7.61%) * CA$30.40)
CA$1.39
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CA$1.39 / (7.61% - 1.44%)
CA$22.58
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CA$30.40 + CA$22.58
CA$52.97
TSX:XSP Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$52.97
Current discount Discount to share price of CA$27.80
= -1 x (CA$27.80 - CA$52.97) / CA$52.97
47.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price iShares Core S&P 500 Index ETF (CAD-Hedged) is available for.
Intrinsic value
48%
Share price is CA$27.8 vs Future cash flow value of CA$52.97
Current Discount Checks
For iShares Core S&P 500 Index ETF (CAD-Hedged) to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • iShares Core S&P 500 Index ETF (CAD-Hedged)'s share price is below the future cash flow value, and at a moderate discount (> 20%).
  • iShares Core S&P 500 Index ETF (CAD-Hedged)'s share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for iShares Core S&P 500 Index ETF (CAD-Hedged)'s earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are iShares Core S&P 500 Index ETF (CAD-Hedged)'s earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:XSP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$2.50
TSX:XSP Share Price ** TSX (2020-03-27) in CAD CA$27.8
Canada Capital Markets Industry PE Ratio Median Figure of 15 Publicly-Listed Capital Markets Companies 7.45x
Canada Market PE Ratio Median Figure of 497 Publicly-Listed Companies 10.58x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of iShares Core S&P 500 Index ETF (CAD-Hedged).

TSX:XSP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:XSP Share Price ÷ EPS (both in CAD)

= 27.8 ÷ 2.50

11.14x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • iShares Core S&P 500 Index ETF (CAD-Hedged) is overvalued based on earnings compared to the CA Capital Markets industry average.
  • iShares Core S&P 500 Index ETF (CAD-Hedged) is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does iShares Core S&P 500 Index ETF (CAD-Hedged)'s expected growth come at a high price?
Raw Data
TSX:XSP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.14x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
North America Capital Markets Industry PEG Ratio Median Figure of 39 Publicly-Listed Capital Markets Companies 1.84x
Canada Market PEG Ratio Median Figure of 234 Publicly-Listed Companies 0.69x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for iShares Core S&P 500 Index ETF (CAD-Hedged), we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on iShares Core S&P 500 Index ETF (CAD-Hedged)'s assets?
Raw Data
TSX:XSP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$32.56
TSX:XSP Share Price * TSX (2020-03-27) in CAD CA$27.8
Canada Capital Markets Industry PB Ratio Median Figure of 157 Publicly-Listed Capital Markets Companies 0.82x
Canada Market PB Ratio Median Figure of 2,351 Publicly-Listed Companies 1x
TSX:XSP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:XSP Share Price ÷ Book Value per Share (both in CAD)

= 27.8 ÷ 32.56

0.85x

* Primary Listing of iShares Core S&P 500 Index ETF (CAD-Hedged).

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • iShares Core S&P 500 Index ETF (CAD-Hedged) is overvalued based on assets compared to the CA Capital Markets industry average.
X
Value checks
We assess iShares Core S&P 500 Index ETF (CAD-Hedged)'s value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. iShares Core S&P 500 Index ETF (CAD-Hedged) has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is iShares Core S&P 500 Index ETF (CAD-Hedged) expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as iShares Core S&P 500 Index ETF (CAD-Hedged) has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.8%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is iShares Core S&P 500 Index ETF (CAD-Hedged) expected to grow at an attractive rate?
  • Unable to compare iShares Core S&P 500 Index ETF (CAD-Hedged)'s earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare iShares Core S&P 500 Index ETF (CAD-Hedged)'s earnings growth to the Canada market average as no estimate data is available.
  • Unable to compare iShares Core S&P 500 Index ETF (CAD-Hedged)'s revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSX:XSP Future Growth Rates Data Sources
Data Point Source Value (per year)
North America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 5.8%
North America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 2.7%
Canada Market Earnings Growth Rate Market Cap Weighted Average 7.8%
Canada Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:XSP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:XSP Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 1,012 68 1,174
2019-09-30 714 71 767
2019-06-30 415 74 360
2019-03-31 295 65 45
2018-12-31 174 57 -269
2018-09-30 386 66 113
2018-06-30 599 76 495
2018-03-31 554 76 625
2017-12-31 509 76 755
2017-09-30 564 67 677
2017-06-30 618 59 600
2017-03-31 476 47 504

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if iShares Core S&P 500 Index ETF (CAD-Hedged) is high growth as no earnings estimate data is available.
  • Unable to determine if iShares Core S&P 500 Index ETF (CAD-Hedged) is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:XSP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from iShares Core S&P 500 Index ETF (CAD-Hedged) Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:XSP Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31
2019-09-30
2019-06-30 2.50
2019-03-31 0.32
2018-12-31 -1.93
2018-09-30
2018-06-30 3.56
2018-03-31 4.39
2017-12-31 5.18
2017-09-30 4.61
2017-06-30 4.05
2017-03-31 3.42

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if iShares Core S&P 500 Index ETF (CAD-Hedged) will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess iShares Core S&P 500 Index ETF (CAD-Hedged)'s future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the North America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the North America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
iShares Core S&P 500 Index ETF (CAD-Hedged) has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has iShares Core S&P 500 Index ETF (CAD-Hedged) performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare iShares Core S&P 500 Index ETF (CAD-Hedged)'s growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • iShares Core S&P 500 Index ETF (CAD-Hedged) has delivered over 20% year on year earnings growth in the past 5 years.
  • iShares Core S&P 500 Index ETF (CAD-Hedged) has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • iShares Core S&P 500 Index ETF (CAD-Hedged) has become profitable in the last year making it difficult to compare the CA Capital Markets industry average.
Earnings and Revenue History
iShares Core S&P 500 Index ETF (CAD-Hedged)'s revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from iShares Core S&P 500 Index ETF (CAD-Hedged) Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:XSP Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 1,012.17 1,173.62 2.64
2019-09-30 713.68 766.60 2.72
2019-06-30 415.20 359.57 2.80
2019-03-31 294.55 45.05 2.87
2018-12-31 173.91 -269.48 2.95
2018-09-30 386.37 112.54 2.89
2018-06-30 598.83 494.55 2.83
2018-03-31 553.88 624.69 2.80
2017-12-31 508.92 754.83 2.78
2017-09-30 563.70 677.39 2.54
2017-06-30 618.48 599.95 2.30
2017-03-31 475.53 503.56 1.92
2016-12-31 332.57 407.16 1.54
2016-09-30 299.90 270.21 1.33
2016-06-30 267.23 133.26 1.11
2016-03-31 415.58 76.17 1.07
2015-12-31 563.94 19.08 1.03
2015-09-30 574.94 97.39 0.98
2015-06-30 585.95 175.71 0.93
2015-03-31 539.58 233.53 1.18
2014-12-31 493.22 291.35 1.43
2014-09-30 470.47 360.55 2.02
2014-06-30 447.72 429.75 2.61
2014-03-31 533.97 467.36 2.82
2013-12-31 620.23 504.97 3.03
2013-09-30 330.33 405.28 3.00
2013-06-30 329.91 306.91 2.85
2013-03-31 179.56 269.69 2.75

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • iShares Core S&P 500 Index ETF (CAD-Hedged) has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • iShares Core S&P 500 Index ETF (CAD-Hedged) used its assets more efficiently than the CA Capital Markets industry average last year based on Return on Assets.
  • iShares Core S&P 500 Index ETF (CAD-Hedged) has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess iShares Core S&P 500 Index ETF (CAD-Hedged)'s performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
iShares Core S&P 500 Index ETF (CAD-Hedged) has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is iShares Core S&P 500 Index ETF (CAD-Hedged)'s financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up iShares Core S&P 500 Index ETF (CAD-Hedged)'s finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • iShares Core S&P 500 Index ETF (CAD-Hedged) is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • iShares Core S&P 500 Index ETF (CAD-Hedged) has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of iShares Core S&P 500 Index ETF (CAD-Hedged)'s finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • iShares Core S&P 500 Index ETF (CAD-Hedged) has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from iShares Core S&P 500 Index ETF (CAD-Hedged) Company Filings, last reported 2 months ago.

TSX:XSP Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 5,147.07 0.00 5,110.39
2019-09-30 5,147.07 0.00 5,110.39
2019-06-30 4,688.96 0.00 4,669.43
2019-03-31 4,688.96 0.00 4,669.43
2018-12-31 4,105.94 0.00 4,121.17
2018-09-30 4,105.94 0.00 4,121.17
2018-06-30
2018-03-31 4,082.09 0.00 4,045.21
2017-12-31 4,082.09 0.00 4,045.21
2017-09-30 4,082.09 0.00 4,045.21
2017-06-30 4,149.87 0.00 4,134.93
2017-03-31 4,149.87 0.00 4,134.93
2016-12-31 3,855.22 0.00 3,815.68
2016-09-30 3,855.22 0.00 3,815.68
2016-06-30 3,518.69 0.00 3,518.81
2016-03-31 3,518.69 0.00 3,518.81
2015-12-31 3,118.30 0.00 3,136.47
2015-09-30 3,118.30 0.00 3,136.47
2015-06-30 2,830.65 0.00 2,859.18
2015-03-31 2,830.65 0.00 2,859.18
2014-12-31 2,564.99 0.00 2,568.43
2014-09-30 2,564.99 0.00 2,568.43
2014-06-30 2,143.83 0.00 2,146.30
2014-03-31 2,143.83 0.00 2,146.30
2013-12-31 2,005.67 0.00 2,013.54
2013-09-30 2,005.46 0.00 13.18
2013-06-30 1,753.73 0.00 4.13
2013-03-31 1,753.73 0.00 4.13
  • iShares Core S&P 500 Index ETF (CAD-Hedged) has no debt.
  • iShares Core S&P 500 Index ETF (CAD-Hedged) has not taken on any debt in the past 5 years.
  • iShares Core S&P 500 Index ETF (CAD-Hedged) has no debt, it does not need to be covered by operating cash flow.
  • iShares Core S&P 500 Index ETF (CAD-Hedged) has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess iShares Core S&P 500 Index ETF (CAD-Hedged)'s financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. iShares Core S&P 500 Index ETF (CAD-Hedged) has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is iShares Core S&P 500 Index ETF (CAD-Hedged)'s current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.79%
Current annual income from iShares Core S&P 500 Index ETF (CAD-Hedged) dividends.
If you bought CA$2,000 of iShares Core S&P 500 Index ETF (CAD-Hedged) shares you are expected to receive CA$36 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • iShares Core S&P 500 Index ETF (CAD-Hedged)'s pays a lower dividend yield than the bottom 25% of dividend payers in Canada (2.75%).
  • iShares Core S&P 500 Index ETF (CAD-Hedged)'s dividend is below the markets top 25% of dividend payers in Canada (8.79%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:XSP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Canada Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 6.1%
Canada Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 4.9%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.3%
Canada Bottom 25% Dividend Yield 25th Percentile 2.7%
Canada Top 25% Dividend Yield 75th Percentile 8.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:XSP Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2018-12-20 0.496 1.532
2017-06-14 0.421 1.391
2016-12-28 0.446 1.660
2016-06-08 0.466 1.881
2015-12-29 0.436 1.896
2014-06-11 0.351 1.494
2013-12-18 1.088 5.097
2013-06-10 0.301 1.542
2012-12-17 0.277 1.567
2012-06-15 0.247 1.545
2012-03-28 0.236 1.521
2011-12-16 0.286 1.886
2011-06-17 0.207 1.475
2010-12-17 0.206 1.371
2010-06-18 0.192 1.475
2009-12-17 0.193 1.475
2009-06-18 0.183 1.534

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of iShares Core S&P 500 Index ETF (CAD-Hedged)'s earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess iShares Core S&P 500 Index ETF (CAD-Hedged)'s dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can iShares Core S&P 500 Index ETF (CAD-Hedged) afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. iShares Core S&P 500 Index ETF (CAD-Hedged) has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of iShares Core S&P 500 Index ETF (CAD-Hedged)'s salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
  • iShares Core S&P 500 Index ETF (CAD-Hedged) has no CEO, or we have no data on them.
Management Team

Greg Savage

TITLE
Portfolio Manager

Scott Radell

TITLE
Portfolio Manager
AGE
50

Creighton Jue

TITLE
Portfolio Manager

Amy Whitelaw

TITLE
Portfolio Manager
Board of Directors
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
X
Management checks
We assess iShares Core S&P 500 Index ETF (CAD-Hedged)'s management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. iShares Core S&P 500 Index ETF (CAD-Hedged) has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

iShares Core S&P 500 Index ETF (CAD-Hedged) is an exchange traded fund launched and managed by BlackRock Asset Management Canada Limited. It is co-managed by BlackRock Institutional Trust Company, N.A. The fund invests in the public equity markets of the United States. It seeks to invest directly and through other ETFs in stocks of companies operating across diversified sectors. The fund invests in the stocks of large-cap companies. It uses derivatives such as currency forward or futures contracts to seek to hedge the U.S. dollar currency exposure back to Canadian dollars. The fund seeks to replicate the performance of the S&P 500 CAD Hedged Index. The fund was formerly known as iShares S&P 500 Index ETF (CAD-Hedged). iShares Core S&P 500 Index ETF (CAD-Hedged) was formed on May 24, 2001 and is domiciled in Canada.

Details
Name: iShares Core S&P 500 Index ETF (CAD-Hedged)
XSP
Exchange: TSX
Founded: 2001
CA$4,759,360,000
171,200,000
Website: http://www.blackrock.com/ca/individual/en/products/239727/
Address: iShares Core S&P 500 Index ETF (CAD-Hedged)
161 Bay Street,
Suite 2500,
Toronto,
Ontario, M5J 2S1,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX XSP Units The Toronto Stock Exchange CA CAD 29. May 2001
OTCPK ISSX.F Units Pink Sheets LLC US USD 29. May 2001
Number of employees
Current staff
Staff numbers
0
iShares Core S&P 500 Index ETF (CAD-Hedged) employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/29 01:51
End of day share price update: 2020/03/27 00:00
Last earnings filing: 2020/03/23
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.