AGG vs. XEF.TO
AGG (iShares Core U.S. Aggregate Bond ETF) and XEF.TO (iShares Core MSCI EAFE IMI Index ETF) are both exchange-traded funds - AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index, while XEF.TO is a Foreign Large Cap Equities fund tracking the MSCI EAFE Investable Market Index (CAD). Both are passively managed. Over the past 10 years, AGG returned 1.52%/yr vs 9.10%/yr for XEF.TO. At a 0.01 correlation, their price movements are largely independent. AGG charges 0.03%/yr vs 0.23%/yr for XEF.TO.
Performance
AGG vs. XEF.TO - Performance Comparison
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Different Trading Currencies
AGG is traded in USD, while XEF.TO is traded in CAD. To make them comparable, the XEF.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, AGG achieves a -0.08% return, which is significantly lower than XEF.TO's 7.03% return. Over the past 10 years, AGG has underperformed XEF.TO with an annualized return of 1.52%, while XEF.TO has yielded a comparatively higher 9.10% annualized return.
AGG
- 1D
- 0.00%
- 1M
- -0.69%
- YTD
- -0.08%
- 6M
- 0.26%
- 1Y
- 4.97%
- 3Y*
- 3.88%
- 5Y*
- -0.03%
- 10Y*
- 1.52%
XEF.TO
- 1D
- 0.24%
- 1M
- -1.35%
- YTD
- 7.03%
- 6M
- 9.68%
- 1Y
- 18.93%
- 3Y*
- 15.92%
- 5Y*
- 7.57%
- 10Y*
- 9.10%
AGG vs. XEF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AGG iShares Core U.S. Aggregate Bond ETF | -0.08% | 7.19% | 1.31% | 5.65% | -13.02% | -1.77% | 7.48% | 8.46% | 0.09% | 3.55% |
XEF.TO iShares Core MSCI EAFE IMI Index ETF | 7.03% | 31.70% | 3.30% | 18.02% | -14.92% | 10.41% | 8.71% | 20.83% | -13.90% | 26.79% |
Correlation
The correlation between AGG and XEF.TO is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2013 | 0.02 |
Over the past year, AGG and XEF.TO have become more correlated (0.35) than their long-term average of 0.01, meaning their price movements have been converging.
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Return for Risk
AGG vs. XEF.TO — Risk / Return Rank
AGG
XEF.TO
AGG vs. XEF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core U.S. Aggregate Bond ETF (AGG) and iShares Core MSCI EAFE IMI Index ETF (XEF.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.
| AGG | XEF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.24 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 1.64 | +0.16 |
| Martin ratioReturn relative to average drawdown | 5.44 | 6.39 | -0.95 |
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
| AGG | XEF.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 1.28 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.00 | 0.51 | -0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.56 | -0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.47 | +0.12 |
Drawdowns
AGG vs. XEF.TO - Drawdown Comparison
The maximum AGG drawdown since its inception was -18.43%, smaller than the maximum XEF.TO drawdown of -34.33%. Use the drawdown chart below to compare losses from any high point for AGG and XEF.TO.
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Drawdown Indicators
| AGG | XEF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.43% | -34.33% | +15.90% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -11.58% | +8.82% |
Max Drawdown (3Y)Largest decline over 3 years | -6.11% | -13.93% | +7.82% |
Max Drawdown (5Y)Largest decline over 5 years | -17.82% | -31.05% | +13.23% |
Max Drawdown (10Y)Largest decline over 10 years | -18.43% | -34.33% | +15.90% |
Current DrawdownCurrent decline from peak | -2.47% | -2.96% | +0.49% |
Average DrawdownAverage peak-to-trough decline | -2.71% | -7.14% | +4.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 2.97% | -2.05% |
Volatility
AGG vs. XEF.TO - Volatility Comparison
The current volatility for iShares Core U.S. Aggregate Bond ETF (AGG) is 1.29%, while iShares Core MSCI EAFE IMI Index ETF (XEF.TO) has a volatility of 4.24%. This indicates that AGG experiences smaller price fluctuations and is considered to be less risky than XEF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGG | XEF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 4.24% | -2.95% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 12.22% | -9.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.80% | 14.83% | -11.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.09% | 14.98% | -8.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.41% | 16.23% | -10.82% |
AGG vs. XEF.TO - Expense Ratio Comparison
AGG has a 0.03% expense ratio, which is lower than XEF.TO's 0.23% 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
AGG vs. XEF.TO - Dividend Comparison
AGG's dividend yield for the trailing twelve months is around 4.00%, more than XEF.TO's 2.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGG iShares Core U.S. Aggregate Bond ETF | 4.00% | 3.89% | 3.74% | 3.13% | 2.39% | 1.77% | 2.14% | 2.70% | 2.72% | 2.32% | 2.39% | 2.45% |
XEF.TO iShares Core MSCI EAFE IMI Index ETF | 2.23% | 2.43% | 2.76% | 2.75% | 2.93% | 2.42% | 1.93% | 2.71% | 2.75% | 2.11% | 2.45% | 2.42% |
Frequently Asked Questions
AGG and XEF.TO have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AGG is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AGG is cheaper with a 0.03% expense ratio, compared with 0.23% for XEF.TO.
AGG is categorized as Total Bond Market, while XEF.TO is Foreign Large Cap Equities. AGG tracks Bloomberg U.S. Aggregate Bond Index, while XEF.TO tracks MSCI EAFE Investable Market Index (CAD). Their fees differ too: 0.03% for AGG and 0.23% for XEF.TO.
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