CRQ.NEO vs. XEC.TO
CRQ.NEO (iShares Canadian Fundamental Index ETF) and XEC.TO (iShares Core MSCI Emerging Markets IMI Index ETF) are both exchange-traded funds - CRQ.NEO is a Canada Equities fund tracking the FTSE RAFI Canada Index, while XEC.TO is a Emerging Markets Equities fund tracking the MSCI Emerging Markets IMI Index. Both are passively managed. Over the past 10 years, CRQ.NEO returned 13.72%/yr vs 9.13%/yr for XEC.TO. At a 0.46 correlation, their price movements are largely independent. CRQ.NEO charges 0.72%/yr vs 0.28%/yr for XEC.TO.
Performance
CRQ.NEO vs. XEC.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CRQ.NEO achieves a 21.35% return, which is significantly higher than XEC.TO's 17.71% return. Over the past 10 years, CRQ.NEO has outperformed XEC.TO with an annualized return of 13.72%, while XEC.TO has yielded a comparatively lower 9.13% annualized return.
CRQ.NEO
- 1D
- -0.03%
- 1M
- 2.62%
- 6M
- 16.94%
- YTD
- 21.35%
- 1Y
- 44.57%
- 3Y*
- 26.99%
- 5Y*
- 19.04%
- 10Y*
- 13.72%
XEC.TO
- 1D
- -1.85%
- 1M
- -8.10%
- 6M
- 10.20%
- YTD
- 17.71%
- 1Y
- 30.89%
- 3Y*
- 20.44%
- 5Y*
- 8.19%
- 10Y*
- 9.13%
CRQ.NEO vs. XEC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CRQ.NEO iShares Canadian Fundamental Index ETF | 21.35% | 31.87% | 22.17% | 9.76% | 0.89% | 33.95% | -2.73% | 19.66% | -10.18% | 6.98% |
XEC.TO iShares Core MSCI Emerging Markets IMI Index ETF | 17.71% | 25.78% | 16.14% | 7.92% | -14.76% | -1.75% | 15.08% | 11.54% | -8.26% | 27.93% |
Correlation
The correlation between CRQ.NEO and XEC.TO is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2013 | 0.46 |
The correlation between CRQ.NEO and XEC.TO shifts across timeframes, from 0.34 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CRQ.NEO vs. XEC.TO — Risk / Return Rank
CRQ.NEO
XEC.TO
CRQ.NEO vs. XEC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Fundamental Index ETF (CRQ.NEO) and iShares Core MSCI Emerging Markets IMI Index ETF (XEC.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.
| CRQ.NEO | XEC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.01 | ||
| Sortino ratioReturn per unit of downside risk | +4.24 | ||
| Omega ratioGain probability vs. loss probability | 1.96 | 1.27 | +0.68 |
| Calmar ratioReturn relative to maximum drawdown | 6.58 | 2.67 | +3.91 |
| Martin ratioReturn relative to average drawdown | 31.79 | 8.13 | +23.67 |
Loading charts...
Drawdowns
CRQ.NEO vs. XEC.TO - Drawdown Comparison
The maximum CRQ.NEO drawdown since its inception was -41.75%, which is greater than XEC.TO's maximum drawdown of -32.54%. Use the drawdown chart below to compare losses from any high point for CRQ.NEO and XEC.TO.
Loading charts...
Drawdown Indicators
| CRQ.NEO | XEC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.75% | -32.54% | -9.21% |
Max Drawdown (1Y)Largest decline over 1 year | -6.84% | -11.61% | +4.77% |
Max Drawdown (3Y)Largest decline over 3 years | -11.70% | -15.07% | +3.37% |
Max Drawdown (5Y)Largest decline over 5 years | -15.82% | -28.30% | +12.48% |
Max Drawdown (10Y)Largest decline over 10 years | -41.75% | -32.54% | -9.21% |
Current DrawdownCurrent decline from peak | -0.03% | -11.61% | +11.58% |
Average DrawdownAverage peak-to-trough decline | -5.59% | -9.53% | +3.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 3.81% | -2.40% |
Volatility
CRQ.NEO vs. XEC.TO - Volatility Comparison
The current volatility for iShares Canadian Fundamental Index ETF (CRQ.NEO) is 2.19%, while iShares Core MSCI Emerging Markets IMI Index ETF (XEC.TO) has a volatility of 9.72%. This indicates that CRQ.NEO experiences smaller price fluctuations and is considered to be less risky than XEC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CRQ.NEO | XEC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.19% | 9.72% | -7.53% |
Volatility (6M)Calculated over the trailing 6-month period | 8.17% | 20.29% | -12.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.20% | 22.13% | -11.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.40% | 16.87% | -4.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.19% | 17.93% | -1.74% |
CRQ.NEO vs. XEC.TO - Expense Ratio Comparison
CRQ.NEO has a 0.72% expense ratio, which is higher than XEC.TO's 0.28% expense ratio.
Dividends
CRQ.NEO vs. XEC.TO - Dividend Comparison
CRQ.NEO's dividend yield for the trailing twelve months is around 1.78%, more than XEC.TO's 1.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CRQ.NEO iShares Canadian Fundamental Index ETF | 1.78% | 2.18% | 2.72% | 2.97% | 2.90% | 2.17% | 2.98% | 2.71% | 2.46% | 1.91% | 1.89% | 3.09% |
XEC.TO iShares Core MSCI Emerging Markets IMI Index ETF | 1.67% | 1.92% | 2.03% | 2.15% | 2.19% | 2.78% | 1.64% | 2.87% | 2.66% | 2.13% | 1.80% | 2.19% |
Frequently Asked Questions
CRQ.NEO and XEC.TO have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEC.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEC.TO is cheaper with a 0.28% expense ratio, compared with 0.72% for CRQ.NEO.
CRQ.NEO is categorized as Canada Equities, while XEC.TO is Emerging Markets Equities. CRQ.NEO tracks FTSE RAFI Canada Index, while XEC.TO tracks MSCI Emerging Markets IMI Index. Their fees differ too: 0.72% for CRQ.NEO and 0.28% for XEC.TO.
Find the right allocation for CRQ.NEO and XEC.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer