EHE.TO vs. XEH.TO
EHE.TO (CI Europe Hedged Equity Index ETF) and XEH.TO (iShares MSCI Europe IMI Index ETF (CAD-Hedged)) are both Europe Equities funds - EHE.TO tracks the WisdomTree Europe CAD-Hedged Equity Index while XEH.TO tracks the Morningstar Eur GR CAD. Both are passively managed. Over the past 5 years, EHE.TO returned 9.97%/yr vs 9.11%/yr for XEH.TO. At a 0.35 correlation, their price movements are largely independent.
Performance
EHE.TO vs. XEH.TO - Performance Comparison
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Returns By Period
In the year-to-date period, EHE.TO achieves a 5.98% return, which is significantly lower than XEH.TO's 6.32% return.
EHE.TO
- 1D
- 1.09%
- 1M
- 3.27%
- YTD
- 5.98%
- 6M
- 7.19%
- 1Y
- 14.83%
- 3Y*
- 13.45%
- 5Y*
- 9.97%
- 10Y*
- —
XEH.TO
- 1D
- -0.15%
- 1M
- 1.76%
- YTD
- 6.32%
- 6M
- 8.26%
- 1Y
- 14.24%
- 3Y*
- 13.21%
- 5Y*
- 9.11%
- 10Y*
- 9.59%
EHE.TO vs. XEH.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EHE.TO CI Europe Hedged Equity Index ETF | 5.98% | 22.91% | 4.20% | 22.26% | -10.45% | 23.79% | -5.96% | 24.49% | -10.68% | 15.40% |
XEH.TO iShares MSCI Europe IMI Index ETF (CAD-Hedged) | 6.32% | 20.43% | 7.72% | 15.86% | -8.30% | 21.78% | -2.36% | 26.30% | -9.64% | 15.67% |
Correlation
The correlation between EHE.TO and XEH.TO is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2016 | 0.35 |
Over the past year, the correlation between EHE.TO and XEH.TO has dropped to 0.03 - well below their long-term average of 0.35, suggesting their price drivers have been diverging.
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Return for Risk
EHE.TO vs. XEH.TO — Risk / Return Rank
EHE.TO
XEH.TO
EHE.TO vs. XEH.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CI Europe Hedged Equity Index ETF (EHE.TO) and iShares MSCI Europe IMI Index ETF (CAD-Hedged) (XEH.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.
| EHE.TO | XEH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.22 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 1.46 | -0.21 |
| Martin ratioReturn relative to average drawdown | 4.59 | 5.91 | -1.31 |
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
| EHE.TO | XEH.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | 1.20 | -0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.65 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.60 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.54 | 0.00 |
Drawdowns
EHE.TO vs. XEH.TO - Drawdown Comparison
The maximum EHE.TO drawdown since its inception was -38.20%, which is greater than XEH.TO's maximum drawdown of -35.81%. Use the drawdown chart below to compare losses from any high point for EHE.TO and XEH.TO.
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Drawdown Indicators
| EHE.TO | XEH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.20% | -35.81% | -2.39% |
Max Drawdown (1Y)Largest decline over 1 year | -11.85% | -10.38% | -1.47% |
Max Drawdown (3Y)Largest decline over 3 years | -16.30% | -15.01% | -1.29% |
Max Drawdown (5Y)Largest decline over 5 years | -22.91% | -20.33% | -2.58% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.81% | — |
Current DrawdownCurrent decline from peak | -0.62% | -2.40% | +1.78% |
Average DrawdownAverage peak-to-trough decline | -5.35% | -4.93% | -0.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.19% | 2.55% | +0.64% |
Volatility
EHE.TO vs. XEH.TO - Volatility Comparison
CI Europe Hedged Equity Index ETF (EHE.TO) has a higher volatility of 5.64% compared to iShares MSCI Europe IMI Index ETF (CAD-Hedged) (XEH.TO) at 4.11%. This indicates that EHE.TO's price experiences larger fluctuations and is considered to be riskier than XEH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EHE.TO | XEH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.64% | 4.11% | +1.53% |
Volatility (6M)Calculated over the trailing 6-month period | 12.70% | 10.45% | +2.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.02% | 12.62% | +3.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.98% | 14.17% | +3.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.44% | 16.04% | +1.40% |
Dividends
EHE.TO vs. XEH.TO - Dividend Comparison
EHE.TO's dividend yield for the trailing twelve months is around 2.02%, less than XEH.TO's 2.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EHE.TO CI Europe Hedged Equity Index ETF | 2.02% | 2.16% | 4.38% | 3.30% | 2.19% | 1.90% | 2.55% | 2.02% | 2.08% | 1.37% | 0.13% | 0.00% |
XEH.TO iShares MSCI Europe IMI Index ETF (CAD-Hedged) | 2.35% | 2.50% | 2.71% | 2.98% | 3.12% | 2.40% | 2.01% | 3.52% | 3.39% | 2.22% | 2.39% | 2.27% |
Frequently Asked Questions
EHE.TO and XEH.TO have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EHE.TO tracks WisdomTree Europe CAD-Hedged Equity Index, while XEH.TO tracks Morningstar Eur GR CAD. They also come from different issuers: CI and iShares.
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