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AVDV vs. XEI.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AVDV vs. XEI.TO

Last updated Jun 14, 2026

AVDV (Avantis International Small Cap Value ETF) and XEI.TO (iShares S&P/TSX Composite High Dividend Index ETF) are both exchange-traded funds - AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis, while XEI.TO is a Canada Equities fund tracking the S&P/TSX Composite High Dividend Index. AVDV is actively managed, while XEI.TO is passively managed. Over the past 5 years, AVDV returned 13.63%/yr vs 11.47%/yr for XEI.TO. A 0.58 correlation means they provide meaningful diversification when combined. AVDV charges 0.36%/yr vs 0.22%/yr for XEI.TO.

Performance

AVDV vs. XEI.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis International Small Cap Value ETF (AVDV) and iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

AVDV is traded in USD, while XEI.TO is traded in CAD. To make them comparable, the XEI.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, AVDV achieves a 14.99% return, which is significantly lower than XEI.TO's 21.85% return.

AVDV

1D
0.89%
1M
0.12%
YTD
14.99%
6M
17.18%
1Y
41.91%
3Y*
26.72%
5Y*
13.63%
10Y*
—

XEI.TO

1D
0.40%
1M
1.93%
YTD
21.85%
6M
18.53%
1Y
35.12%
3Y*
19.60%
5Y*
11.47%
10Y*
11.14%
*Multi-year figures are annualized to reflect compound growth (CAGR)

AVDV vs. XEI.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
AVDV
Avantis International Small Cap Value ETF		14.99%49.37%8.67%16.85%-11.47%15.80%5.01%11.78%
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		21.85%26.64%6.27%9.19%-5.65%35.83%-5.35%5.15%

Correlation

The correlation between AVDV and XEI.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

0.50

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

0.56

Correlation (All Time)
Calculated using the full available price history since Sep 26, 2019

0.58

Over the past year, the correlation between AVDV and XEI.TO has dropped to 0.35 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.

AVDV vs. XEI.TO - Sectors Allocation Comparison

Sectors
AVDV
XEI.TO

Industrials

22.8%
0.7%

Basic Materials

21.0%
4.6%

Consumer Cyclical

15.4%
6.2%

Financial Services

13.6%
31.4%

Energy

9.6%
32.1%

Technology

6.6%
0.7%

Consumer Defensive

3.4%
0.5%

Communication Services

2.4%
7.6%

Healthcare

2.3%
0.2%

Utilities

1.7%
11.2%

Real Estate

1.3%
4.8%

Industrials

AVDV
22.8%
XEI.TO
0.7%

Basic Materials

AVDV
21.0%
XEI.TO
4.6%

Consumer Cyclical

AVDV
15.4%
XEI.TO
6.2%

Financial Services

AVDV
13.6%
XEI.TO
31.4%

Energy

AVDV
9.6%
XEI.TO
32.1%

Technology

AVDV
6.6%
XEI.TO
0.7%

Consumer Defensive

AVDV
3.4%
XEI.TO
0.5%

Communication Services

AVDV
2.4%
XEI.TO
7.6%

Healthcare

AVDV
2.3%
XEI.TO
0.2%

Utilities

AVDV
1.7%
XEI.TO
11.2%

Real Estate

AVDV
1.3%
XEI.TO
4.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Avantis International Small Cap Value ETF

iShares S&P/TSX Composite High Dividend Index ETF

Often compared with AVDV:
AVDV vs. VXUSAVDV vs. AVDEAVDV vs. VSSAVDV vs. DISVXAVDV vs. AVDVXAVDV vs. ISVLAVDV vs. AVIV
Often compared with XEI.TO:
XEI.TO vs. VDY.TOXEI.TO vs. XDIV.TOXEI.TO vs. XEQT.TOXEI.TO vs. VFV.TOXEI.TO vs. ZDV.TOXEI.TO vs. CDZ.TOXEI.TO vs. XDV.TO

Return for Risk

AVDV vs. XEI.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AVDV
AVDV Risk / Return Rank: 8181
Overall Rank
AVDV Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
AVDV Sortino Ratio Rank: 8686
Sortino Ratio Rank
AVDV Omega Ratio Rank: 8686
Omega Ratio Rank
AVDV Calmar Ratio Rank: 7171
Calmar Ratio Rank
AVDV Martin Ratio Rank: 7676
Martin Ratio Rank
XEI.TO
XEI.TO Risk / Return Rank: 9898
Overall Rank
XEI.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
XEI.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
XEI.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XEI.TO Calmar Ratio Rank: 9797
Calmar Ratio Rank
XEI.TO Martin Ratio Rank: 9797
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.

AVDV vs. XEI.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis International Small Cap Value ETF (AVDV) and iShares S&P/TSX Composite High Dividend Index ETF (XEI.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.

AVDVXEI.TODifference
Sharpe ratioReturn per unit of total volatility
2.53
4.10

-1.56

Sortino ratioReturn per unit of downside risk
3.36
5.62

-2.26

Omega ratioGain probability vs. loss probability

1.46

1.76

-0.30

Calmar ratioReturn relative to maximum drawdown

3.12

7.94

-4.82

Martin ratioReturn relative to average drawdown

12.44

31.62

-19.17

AVDV vs. XEI.TO - Sharpe Ratio Comparison

The current AVDV Sharpe Ratio is 2.53, which is lower than the XEI.TO Sharpe Ratio of 4.10. The chart below compares the historical Sharpe Ratios of AVDV and XEI.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

AVDV vs. XEI.TO - Drawdown Comparison

The maximum AVDV drawdown since its inception was -43.01%, smaller than the maximum XEI.TO drawdown of -50.19%. Use the drawdown chart below to compare losses from any high point for AVDV and XEI.TO.

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Drawdown Indicators

AVDVXEI.TODifference

Max Drawdown

Largest peak-to-trough decline

-43.01%

-50.19%

+7.18%

Max Drawdown (1Y)

Largest decline over 1 year

-13.19%

-4.57%

-8.62%

Max Drawdown (3Y)

Largest decline over 3 years

-14.17%

-13.22%

-0.95%

Max Drawdown (5Y)

Largest decline over 5 years

-28.08%

-24.53%

-3.55%

Max Drawdown (10Y)

Largest decline over 10 years

—

-50.19%

—

Current Drawdown

Current decline from peak

-2.24%

-0.48%

-1.76%

Average Drawdown

Average peak-to-trough decline

-6.76%

-9.92%

+3.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.30%

1.14%

+2.16%

Volatility

AVDV vs. XEI.TO - Volatility Comparison

Avantis International Small Cap Value ETF (AVDV) has a higher volatility of 6.26% compared to iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) at 2.57%. This indicates that AVDV's price experiences larger fluctuations and is considered to be riskier than XEI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

AVDVXEI.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.26%

2.57%

+3.69%

Volatility (6M)

Calculated over the trailing 6-month period

13.88%

7.17%

+6.71%

Volatility (1Y)

Calculated over the trailing 1-year period

16.25%

8.85%

+7.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.41%

13.23%

+4.18%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.77%

17.53%

+2.24%

AVDV vs. XEI.TO - Expense Ratio Comparison

AVDV has a 0.36% expense ratio, which is higher than XEI.TO's 0.22% expense ratio.

Dividends

AVDV vs. XEI.TO - Dividend Comparison

AVDV's dividend yield for the trailing twelve months is around 4.11%, more than XEI.TO's 3.53% yield.

PositionTTM20252024202320222021202020192018201720162015
AVDV
Avantis International Small Cap Value ETF		4.11%3.05%4.31%3.29%3.17%2.39%1.67%0.36%0.00%0.00%0.00%0.00%
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		3.53%4.47%5.45%4.97%4.68%3.58%5.03%4.62%5.42%4.29%4.41%5.64%

Frequently Asked Questions

AVDV and XEI.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, XEI.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XEI.TO is cheaper with a 0.22% expense ratio, compared with 0.36% for AVDV.

AVDV is categorized as Foreign Small & Mid Cap Equities, while XEI.TO is Canada Equities. They also come from different issuers: Avantis and iShares. Their fees differ too: 0.36% for AVDV and 0.22% for XEI.TO.

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