EHE.TO vs. XEU.TO
EHE.TO (CI Europe Hedged Equity Index ETF) and XEU.TO (iShares MSCI Europe IMI Index ETF) are both Europe Equities funds - EHE.TO tracks the WisdomTree Europe CAD-Hedged Equity Index while XEU.TO tracks the Morningstar Eur GR CAD. Both are passively managed. Over the past 5 years, EHE.TO returned 9.97%/yr vs 10.75%/yr for XEU.TO. At a 0.31 correlation, their price movements are largely independent.
Performance
EHE.TO vs. XEU.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 XEU.TO's 6.39% 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*
- —
XEU.TO
- 1D
- -1.62%
- 1M
- 1.19%
- YTD
- 6.39%
- 6M
- 8.82%
- 1Y
- 17.14%
- 3Y*
- 17.09%
- 5Y*
- 10.75%
- 10Y*
- 9.71%
EHE.TO vs. XEU.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% |
XEU.TO iShares MSCI Europe IMI Index ETF | 6.39% | 29.40% | 9.34% | 17.38% | -10.49% | 16.36% | 3.16% | 18.30% | -8.11% | 18.47% |
Correlation
The correlation between EHE.TO and XEU.TO is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2016 | 0.31 |
The correlation between EHE.TO and XEU.TO shifts across timeframes, from -0.02 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EHE.TO vs. XEU.TO — Risk / Return Rank
EHE.TO
XEU.TO
EHE.TO vs. XEU.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 (XEU.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 | XEU.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.22 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 1.48 | -0.24 |
| Martin ratioReturn relative to average drawdown | 4.59 | 5.71 | -1.12 |
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 | XEU.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | 1.23 | -0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.73 | -0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.61 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.52 | +0.02 |
Drawdowns
EHE.TO vs. XEU.TO - Drawdown Comparison
The maximum EHE.TO drawdown since its inception was -38.20%, which is greater than XEU.TO's maximum drawdown of -32.02%. Use the drawdown chart below to compare losses from any high point for EHE.TO and XEU.TO.
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Drawdown Indicators
| EHE.TO | XEU.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.20% | -32.02% | -6.18% |
Max Drawdown (1Y)Largest decline over 1 year | -11.85% | -11.94% | +0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -16.30% | -14.62% | -1.68% |
Max Drawdown (5Y)Largest decline over 5 years | -22.91% | -26.96% | +4.05% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.02% | — |
Current DrawdownCurrent decline from peak | -0.62% | -2.13% | +1.51% |
Average DrawdownAverage peak-to-trough decline | -5.35% | -5.46% | +0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.19% | 3.10% | +0.09% |
Volatility
EHE.TO vs. XEU.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 (XEU.TO) at 4.78%. This indicates that EHE.TO's price experiences larger fluctuations and is considered to be riskier than XEU.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 | XEU.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.64% | 4.78% | +0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 12.70% | 12.03% | +0.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.02% | 14.35% | +1.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.98% | 14.73% | +3.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.44% | 16.10% | +1.34% |
Dividends
EHE.TO vs. XEU.TO - Dividend Comparison
EHE.TO's dividend yield for the trailing twelve months is around 2.02%, less than XEU.TO's 2.32% 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% |
XEU.TO iShares MSCI Europe IMI Index ETF | 2.32% | 2.47% | 2.68% | 2.96% | 3.02% | 2.42% | 1.98% | 3.56% | 3.28% | 2.26% | 2.91% | 2.33% |
Frequently Asked Questions
EHE.TO and XEU.TO have a correlation of -0.02, 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 XEU.TO tracks Morningstar Eur GR CAD. They also come from different issuers: CI and iShares.
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