DRFE.TO vs. XEC.TO
DRFE.TO (Desjardins RI Emerging Markets Multifactor - Net-Zero Emissions Pathway ETF) and XEC.TO (iShares Core MSCI Emerging Markets IMI Index ETF) are both Emerging Markets Equities funds. DRFE.TO is actively managed, while XEC.TO is passively managed. Over the past 5 years, DRFE.TO returned 11.65%/yr vs 8.91%/yr for XEC.TO. At a 0.38 correlation, their price movements are largely independent.
Performance
DRFE.TO vs. XEC.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with DRFE.TO having a 21.13% return and XEC.TO slightly higher at 21.69%.
DRFE.TO
- 1D
- -0.72%
- 1M
- -5.64%
- 6M
- 13.96%
- YTD
- 21.13%
- 1Y
- 26.63%
- 3Y*
- 21.37%
- 5Y*
- 11.65%
- 10Y*
- —
XEC.TO
- 1D
- -0.50%
- 1M
- -5.91%
- 6M
- 14.19%
- YTD
- 21.69%
- 1Y
- 37.17%
- 3Y*
- 21.36%
- 5Y*
- 8.91%
- 10Y*
- 9.55%
DRFE.TO vs. XEC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
DRFE.TO Desjardins RI Emerging Markets Multifactor - Net-Zero Emissions Pathway ETF | 21.13% | 21.25% | 18.51% | 10.59% | -8.03% | 4.88% | 7.49% | 0.47% |
XEC.TO iShares Core MSCI Emerging Markets IMI Index ETF | 21.69% | 25.78% | 16.14% | 7.92% | -14.76% | -1.75% | 15.08% | 3.68% |
Correlation
The correlation between DRFE.TO and XEC.TO is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2019 | 0.38 |
Over the past year, DRFE.TO and XEC.TO have become more correlated (0.90) than their long-term average of 0.38, meaning their price movements have been converging.
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Return for Risk
DRFE.TO vs. XEC.TO — Risk / Return Rank
DRFE.TO
XEC.TO
DRFE.TO vs. XEC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Desjardins RI Emerging Markets Multifactor - Net-Zero Emissions Pathway ETF (DRFE.TO) 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.
| DRFE.TO | XEC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.33 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 3.32 | -1.15 |
| Martin ratioReturn relative to average drawdown | 6.93 | 10.10 | -3.17 |
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Drawdowns
DRFE.TO vs. XEC.TO - Drawdown Comparison
The maximum DRFE.TO drawdown since its inception was -25.26%, smaller than the maximum XEC.TO drawdown of -32.54%. Use the drawdown chart below to compare losses from any high point for DRFE.TO and XEC.TO.
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Drawdown Indicators
| DRFE.TO | XEC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.26% | -32.54% | +7.28% |
Max Drawdown (1Y)Largest decline over 1 year | -12.31% | -11.25% | -1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -14.27% | -15.07% | +0.80% |
Max Drawdown (5Y)Largest decline over 5 years | -21.05% | -28.30% | +7.25% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.54% | — |
Current DrawdownCurrent decline from peak | -8.52% | -8.63% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -6.88% | -9.53% | +2.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.85% | 3.69% | +0.16% |
Volatility
DRFE.TO vs. XEC.TO - Volatility Comparison
Desjardins RI Emerging Markets Multifactor - Net-Zero Emissions Pathway ETF (DRFE.TO) and iShares Core MSCI Emerging Markets IMI Index ETF (XEC.TO) have volatilities of 9.86% and 9.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRFE.TO | XEC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.86% | 9.69% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 19.33% | 20.14% | -0.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.00% | 21.99% | -0.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.59% | 16.85% | -0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.22% | 17.92% | -0.70% |
Dividends
DRFE.TO vs. XEC.TO - Dividend Comparison
DRFE.TO's dividend yield for the trailing twelve months is around 1.61%, which matches XEC.TO's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DRFE.TO Desjardins RI Emerging Markets Multifactor - Net-Zero Emissions Pathway ETF | 1.61% | 2.10% | 2.60% | 3.04% | 3.00% | 2.49% | 2.45% | 2.05% | 0.00% | 0.00% | 0.00% | 0.00% |
XEC.TO iShares Core MSCI Emerging Markets IMI Index ETF | 1.61% | 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
DRFE.TO and XEC.TO have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Desjardins and iShares.
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