CWO.NEO vs. XGRO.TO
CWO.NEO (iShares Emerging Markets Fundamental Index ETF) and XGRO.TO (iShares Core Growth ETF Portfolio) are both exchange-traded funds - CWO.NEO is a Emerging Markets Equities fund tracking the FTSE RAFI Emerging Markets Index, while XGRO.TO is a Diversified Portfolio fund actively managed by iShares. CWO.NEO is passively managed, while XGRO.TO is actively managed. Over the past 10 years, CWO.NEO returned 11.24%/yr vs 10.17%/yr for XGRO.TO. At a 0.49 correlation, their price movements are largely independent. CWO.NEO charges 0.73%/yr vs 0.20%/yr for XGRO.TO.
Performance
CWO.NEO vs. XGRO.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CWO.NEO achieves a 13.27% return, which is significantly higher than XGRO.TO's 10.70% return. Over the past 10 years, CWO.NEO has outperformed XGRO.TO with an annualized return of 11.24%, while XGRO.TO has yielded a comparatively lower 10.17% annualized return.
CWO.NEO
- 1D
- -0.47%
- 1M
- 2.68%
- YTD
- 13.27%
- 6M
- 12.25%
- 1Y
- 33.89%
- 3Y*
- 22.83%
- 5Y*
- 11.44%
- 10Y*
- 11.24%
XGRO.TO
- 1D
- 0.29%
- 1M
- 5.00%
- YTD
- 10.70%
- 6M
- 8.71%
- 1Y
- 23.83%
- 3Y*
- 18.10%
- 5Y*
- 10.89%
- 10Y*
- 10.17%
CWO.NEO vs. XGRO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CWO.NEO iShares Emerging Markets Fundamental Index ETF | 13.27% | 26.34% | 22.33% | 9.56% | -9.03% | 7.13% | -3.12% | 10.86% | -0.29% | 17.16% |
XGRO.TO iShares Core Growth ETF Portfolio | 10.70% | 15.59% | 19.53% | 15.01% | -11.08% | 14.29% | 11.51% | 17.97% | -6.73% | 11.61% |
Correlation
The correlation between CWO.NEO and XGRO.TO is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2009 | 0.49 |
The correlation between CWO.NEO and XGRO.TO shifts across timeframes, from 0.42 (5 years) to 0.61 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CWO.NEO vs. XGRO.TO — Risk / Return Rank
CWO.NEO
XGRO.TO
CWO.NEO vs. XGRO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Emerging Markets Fundamental Index ETF (CWO.NEO) and iShares Core Growth ETF Portfolio (XGRO.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.
| CWO.NEO | XGRO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.42 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.12 | 3.36 | -0.24 |
| Martin ratioReturn relative to average drawdown | 11.86 | 14.92 | -3.06 |
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
| CWO.NEO | XGRO.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.20 | 2.22 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 0.99 | -0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.64 | 0.83 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.36 | +0.10 |
Drawdowns
CWO.NEO vs. XGRO.TO - Drawdown Comparison
The maximum CWO.NEO drawdown since its inception was -31.99%, smaller than the maximum XGRO.TO drawdown of -47.97%. Use the drawdown chart below to compare losses from any high point for CWO.NEO and XGRO.TO.
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Drawdown Indicators
| CWO.NEO | XGRO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.99% | -47.97% | +15.98% |
Max Drawdown (1Y)Largest decline over 1 year | -10.90% | -7.12% | -3.78% |
Max Drawdown (3Y)Largest decline over 3 years | -17.12% | -12.47% | -4.65% |
Max Drawdown (5Y)Largest decline over 5 years | -24.80% | -18.40% | -6.40% |
Max Drawdown (10Y)Largest decline over 10 years | -31.97% | -25.85% | -6.12% |
Current DrawdownCurrent decline from peak | -1.89% | 0.00% | -1.89% |
Average DrawdownAverage peak-to-trough decline | -10.28% | -8.49% | -1.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.86% | 1.60% | +1.26% |
Volatility
CWO.NEO vs. XGRO.TO - Volatility Comparison
iShares Emerging Markets Fundamental Index ETF (CWO.NEO) has a higher volatility of 5.38% compared to iShares Core Growth ETF Portfolio (XGRO.TO) at 3.40%. This indicates that CWO.NEO's price experiences larger fluctuations and is considered to be riskier than XGRO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CWO.NEO | XGRO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.38% | 3.40% | +1.98% |
Volatility (6M)Calculated over the trailing 6-month period | 12.46% | 9.20% | +3.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.50% | 10.78% | +4.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.64% | 11.05% | +5.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.51% | 12.26% | +5.25% |
CWO.NEO vs. XGRO.TO - Expense Ratio Comparison
CWO.NEO has a 0.73% expense ratio, which is higher than XGRO.TO's 0.20% expense ratio.
Dividends
CWO.NEO vs. XGRO.TO - Dividend Comparison
CWO.NEO's dividend yield for the trailing twelve months is around 2.46%, more than XGRO.TO's 1.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CWO.NEO iShares Emerging Markets Fundamental Index ETF | 2.46% | 2.79% | 3.50% | 4.14% | 5.03% | 4.61% | 2.64% | 3.01% | 3.22% | 2.60% | 2.57% | 3.23% |
XGRO.TO iShares Core Growth ETF Portfolio | 1.75% | 1.92% | 1.98% | 2.22% | 1.86% | 1.66% | 1.94% | 2.21% | 7.42% | 2.04% | 2.65% | 2.15% |
Frequently Asked Questions
CWO.NEO and XGRO.TO have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XGRO.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XGRO.TO is cheaper with a 0.20% expense ratio, compared with 0.73% for CWO.NEO.
CWO.NEO is categorized as Emerging Markets Equities, while XGRO.TO is Diversified Portfolio. Their fees differ too: 0.73% for CWO.NEO and 0.20% for XGRO.TO.
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