the negative aspects of xeqt?

is xeqt too diversified? in the last 5 years xeqt has grown about 50% and the s/p 500 has climbed about 90%. most people are buying xeqt because they expect the usa to crash so hard their portfolio disappears. $ISHARES CORE EQUITY ETF PORTFOLIO UNITS CAD(XEQT.CA)$