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FXM.TO vs. XEQT.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FXM.TO vs. XEQT.TO

Last updated Apr 1, 2026

Compare and contrast key facts about CI Morningstar Canada Value Index ETF (FXM.TO) and iShares Core Equity ETF Portfolio (XEQT.TO).

FXM.TO and XEQT.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FXM.TO is a passively managed fund by CI Investments that tracks the performance of the Morningstar Canada Target Value Index. It was launched on Feb 13, 2012. XEQT.TO is an actively managed fund by iShares. It was launched on Aug 7, 2019.

Performance

FXM.TO vs. XEQT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Morningstar Canada Value Index ETF (FXM.TO) and iShares Core Equity ETF Portfolio (XEQT.TO). The values are adjusted to include any dividend payments, if applicable.

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FXM.TO vs. XEQT.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
FXM.TO
CI Morningstar Canada Value Index ETF		8.97%38.54%30.05%5.79%-1.19%31.47%6.15%12.40%
XEQT.TO
iShares Core Equity ETF Portfolio		0.66%19.47%24.36%17.25%-11.01%18.94%11.82%9.89%

Returns By Period

In the year-to-date period, FXM.TO achieves a 8.97% return, which is significantly higher than XEQT.TO's 0.66% return.

FXM.TO

1D
1.19%
1M
-3.54%
YTD
8.97%
6M
20.63%
1Y
50.77%
3Y*
26.11%
5Y*
18.45%
10Y*
14.20%

XEQT.TO

1D
2.80%
1M
-4.49%
YTD
0.66%
6M
2.68%
1Y
20.05%
3Y*
18.11%
5Y*
11.80%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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CI Morningstar Canada Value Index ETF

iShares Core Equity ETF Portfolio

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FXM.TO vs. FCUV.TOFXM.TO vs. FCCM.NEOFXM.TO vs. VDY.TOFXM.TO vs. XDIV.TOFXM.TO vs. XCV.TOFXM.TO vs. XCS.TOFXM.TO vs. VCN.TO
Often compared with XEQT.TO:
XEQT.TO vs. VFV.TOXEQT.TO vs. VEQT.TOXEQT.TO vs. XGRO.TOXEQT.TO vs. ZEQT.TOXEQT.TO vs. VGRO.TOXEQT.TO vs. XEI.TOXEQT.TO vs. XAW.TO

FXM.TO vs. XEQT.TO - Expense Ratio Comparison

FXM.TO has a 0.64% expense ratio, which is higher than XEQT.TO's 0.20% expense ratio.

FXM.TO
CI Morningstar Canada Value Index ETF
XEQT.TO
iShares Core Equity ETF Portfolio

Return for Risk

FXM.TO vs. XEQT.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FXM.TO
FXM.TO Risk / Return Rank: 9797
Overall Rank
FXM.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
FXM.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
FXM.TO Omega Ratio Rank: 9898
Omega Ratio Rank
FXM.TO Calmar Ratio Rank: 9696
Calmar Ratio Rank
FXM.TO Martin Ratio Rank: 9797
Martin Ratio Rank
XEQT.TO
XEQT.TO Risk / Return Rank: 7575
Overall Rank
XEQT.TO Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
XEQT.TO Sortino Ratio Rank: 7474
Sortino Ratio Rank
XEQT.TO Omega Ratio Rank: 7676
Omega Ratio Rank
XEQT.TO Calmar Ratio Rank: 7373
Calmar Ratio Rank
XEQT.TO Martin Ratio Rank: 7979
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FXM.TO vs. XEQT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Morningstar Canada Value Index ETF (FXM.TO) and iShares Core Equity ETF Portfolio (XEQT.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.

FXM.TOXEQT.TODifference

Sharpe ratio

Return per unit of total volatility

3.42

1.26

+2.16

Sortino ratio

Return per unit of downside risk

4.07

1.76

+2.31

Omega ratio

Gain probability vs. loss probability

1.70

1.27

+0.43

Calmar ratio

Return relative to maximum drawdown

4.52

1.75

+2.77

Martin ratio

Return relative to average drawdown

20.67

7.85

+12.82

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FXM.TO vs. XEQT.TO - Sharpe Ratio Comparison

The current FXM.TO Sharpe Ratio is 3.42, which is higher than the XEQT.TO Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of FXM.TO and XEQT.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

FXM.TOXEQT.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.42

1.26

+2.16

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.30

0.91

+0.39

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.84

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.80

0.85

-0.05

Correlation

The correlation between FXM.TO and XEQT.TO is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FXM.TO vs. XEQT.TO - Dividend Comparison

FXM.TO's dividend yield for the trailing twelve months is around 1.93%, more than XEQT.TO's 1.66% yield.

TTM20252024202320222021202020192018201720162015
FXM.TO
CI Morningstar Canada Value Index ETF		1.93%1.91%2.17%2.96%2.18%2.19%2.40%2.03%2.52%1.70%1.83%2.24%
XEQT.TO
iShares Core Equity ETF Portfolio		1.66%1.66%2.01%2.07%2.12%1.64%1.66%1.19%0.00%0.00%0.00%0.00%

Drawdowns

FXM.TO vs. XEQT.TO - Drawdown Comparison

The maximum FXM.TO drawdown since its inception was -46.41%, which is greater than XEQT.TO's maximum drawdown of -29.74%. Use the drawdown chart below to compare losses from any high point for FXM.TO and XEQT.TO.

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Drawdown Indicators

FXM.TOXEQT.TODifference

Max Drawdown

Largest peak-to-trough decline

-46.41%

-29.74%

-16.67%

Max Drawdown (1Y)

Largest decline over 1 year

-11.48%

-11.78%

+0.30%

Max Drawdown (5Y)

Largest decline over 5 years

-16.08%

-19.56%

+3.48%

Max Drawdown (10Y)

Largest decline over 10 years

-46.41%

—

—

Current Drawdown

Current decline from peak

-4.31%

-5.08%

+0.77%

Average Drawdown

Average peak-to-trough decline

-4.72%

-4.20%

-0.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.51%

2.63%

-0.12%

Volatility

FXM.TO vs. XEQT.TO - Volatility Comparison

The current volatility for CI Morningstar Canada Value Index ETF (FXM.TO) is 4.37%, while iShares Core Equity ETF Portfolio (XEQT.TO) has a volatility of 6.01%. This indicates that FXM.TO experiences smaller price fluctuations and is considered to be less risky than XEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FXM.TOXEQT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.37%

6.01%

-1.64%

Volatility (6M)

Calculated over the trailing 6-month period

9.87%

9.46%

+0.41%

Volatility (1Y)

Calculated over the trailing 1-year period

14.95%

15.98%

-1.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.29%

13.03%

+1.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.05%

15.63%

+1.42%