IVLU vs. XDIV.TO

Last updated Jun 9, 2026

IVLU (iShares MSCI Intl Value Factor ETF) and XDIV.TO (iShares Core MSCI Canadian Quality Dividend Index ETF) are both exchange-traded funds - IVLU is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Enhanced Value, while XDIV.TO is a Dividend fund tracking the MSCI Canada High Dividend Yield 10% Security Capped Index. Both are passively managed. Over the past 5 years, IVLU returned 13.74%/yr vs 13.62%/yr for XDIV.TO. A 0.51 correlation means they provide meaningful diversification when combined. IVLU charges 0.30%/yr vs 0.11%/yr for XDIV.TO.

Performance

IVLU vs. XDIV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Intl Value Factor ETF (IVLU) and iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IVLU is traded in USD, while XDIV.TO is traded in CAD. To make them comparable, the XDIV.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IVLU achieves a 10.99% return, which is significantly lower than XDIV.TO's 17.68% return.

IVLU

• 1D: 0.45%
• 1M: 0.05%
• YTD: 10.99%
• 6M: 14.55%
• 1Y: 32.63%
• 3Y*: 23.34%
• 5Y*: 13.74%
• 10Y*: 11.09%

XDIV.TO

• 1D: -0.10%
• 1M: 1.83%
• YTD: 17.68%
• 6M: 18.16%
• 1Y: 36.89%
• 3Y*: 21.74%
• 5Y*: 13.62%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IVLU vs. XDIV.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVLU iShares MSCI Intl Value Factor ETF	10.99%	46.09%	6.76%	20.07%	-5.73%	15.60%	-4.50%	15.60%	-15.10%	10.96%
XDIV.TO iShares Core MSCI Canadian Quality Dividend Index ETF	17.61%	31.02%	10.48%	14.68%	-5.50%	33.37%	-5.29%	30.52%	-16.81%	14.41%

Correlation

The correlation between IVLU and XDIV.TO is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since Jun 14, 2017	0.51

Over the past year, the correlation between IVLU and XDIV.TO has dropped to 0.31 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

IVLU vs. XDIV.TO - Sectors Allocation Comparison

Sectors	IVLU	XDIV.TO
Financial Services	25.3%	46.7%
Industrials	17.2%	-
Technology	11.3%	1.3%
Healthcare	9.7%	-
Basic Materials	7.5%	-
Consumer Cyclical	7.4%	11.5%
Consumer Defensive	6.3%	-
Energy	5.1%	28.8%
Communication Services	4.0%	0.4%
Utilities	3.3%	11.3%
Real Estate	1.5%	-

Return for Risk

IVLU vs. XDIV.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IVLU

IVLU Risk / Return Rank: 69
IVLU Sharpe Ratio Rank: 73
IVLU Sortino Ratio Rank: 72
IVLU Omega Ratio Rank: 72
IVLU Calmar Ratio Rank: 62
IVLU Martin Ratio Rank: 64

XDIV.TO

XDIV.TO Risk / Return Rank: 98
XDIV.TO Sharpe Ratio Rank: 98
XDIV.TO Sortino Ratio Rank: 98
XDIV.TO Omega Ratio Rank: 98
XDIV.TO Calmar Ratio Rank: 99
XDIV.TO Martin Ratio Rank: 98

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.

IVLU vs. XDIV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Intl Value Factor ETF (IVLU) and iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.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.

	IVLU	XDIV.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.14	4.21	-2.07
Sortino ratio: Return per unit of downside risk	2.92	6.03	-3.11
Omega ratio: Gain probability vs. loss probability	1.38	1.81	-0.43
Calmar ratio: Return relative to maximum drawdown	2.80	11.19	-8.39
Martin ratio: Return relative to average drawdown	10.66	37.59	-26.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IVLU vs. XDIV.TO - Sharpe Ratio Comparison

The current IVLU Sharpe Ratio is 2.14, which is lower than the XDIV.TO Sharpe Ratio of 4.21. The chart below compares the historical Sharpe Ratios of IVLU and XDIV.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IVLU	XDIV.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	4.21	-2.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	1.10	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.71	-0.24

Drawdowns

IVLU vs. XDIV.TO - Drawdown Comparison

The maximum IVLU drawdown since its inception was -41.85%, smaller than the maximum XDIV.TO drawdown of -46.32%. Use the drawdown chart below to compare losses from any high point for IVLU and XDIV.TO.

Drawdown Indicators

	IVLU	XDIV.TO	Difference
Max Drawdown Largest peak-to-trough decline	-41.85%	-46.32%	+4.47%
Max Drawdown (1Y) Largest decline over 1 year	-11.69%	-3.31%	-8.38%
Max Drawdown (3Y) Largest decline over 3 years	-15.48%	-12.20%	-3.28%
Max Drawdown (5Y) Largest decline over 5 years	-26.04%	-24.74%	-1.30%
Max Drawdown (10Y) Largest decline over 10 years	-41.85%	—	—
Current Drawdown Current decline from peak	-2.27%	-0.76%	-1.51%
Average Drawdown Average peak-to-trough decline	-8.59%	-6.35%	-2.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	0.98%	+2.09%

Volatility

IVLU vs. XDIV.TO - Volatility Comparison

iShares MSCI Intl Value Factor ETF (IVLU) has a higher volatility of 4.47% compared to iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) at 2.51%. This indicates that IVLU's price experiences larger fluctuations and is considered to be riskier than XDIV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVLU	XDIV.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	2.51%	+1.96%
Volatility (6M) Calculated over the trailing 6-month period	12.48%	6.83%	+5.65%
Volatility (1Y) Calculated over the trailing 1-year period	15.33%	8.82%	+6.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.52%	12.47%	+4.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.67%	17.77%	-0.10%

IVLU vs. XDIV.TO - Expense Ratio Comparison

IVLU has a 0.30% expense ratio, which is higher than XDIV.TO's 0.11% expense ratio.

Dividends

IVLU vs. XDIV.TO - Dividend Comparison

IVLU's dividend yield for the trailing twelve months is around 3.34%, which matches XDIV.TO's 3.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVLU iShares MSCI Intl Value Factor ETF	3.34%	3.71%	4.46%	4.69%	3.59%	3.47%	2.05%	3.53%	2.82%	2.87%	2.53%	0.93%
XDIV.TO iShares Core MSCI Canadian Quality Dividend Index ETF	3.31%	3.90%	4.50%	4.42%	4.15%	3.76%	4.85%	4.24%	5.13%	1.92%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IVLU and XDIV.TO in my portfolio?

IVLU and XDIV.TO have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IVLU or XDIV.TO?

On fees, XDIV.TO is cheaper at 0.11% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IVLU or XDIV.TO?

XDIV.TO is cheaper with a 0.11% expense ratio, compared with 0.30% for IVLU.

What is the main difference between IVLU and XDIV.TO?

IVLU is categorized as Foreign Large Cap Equities, while XDIV.TO is Dividend. IVLU tracks MSCI World ex USA Enhanced Value, while XDIV.TO tracks MSCI Canada High Dividend Yield 10% Security Capped Index. Their fees differ too: 0.30% for IVLU and 0.11% for XDIV.TO.