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IVLU vs. XEF.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IVLU vs. XEF.TO

Last updated Jun 13, 2026

IVLU (iShares MSCI International Value Factor ETF) and XEF.TO (iShares Core MSCI EAFE IMI Index ETF) are both Foreign Large Cap Equities funds from iShares - IVLU tracks the MSCI World ex USA Enhanced Value Index while XEF.TO tracks the MSCI EAFE Investable Market Index (CAD). Both are passively managed. Over the past 10 years, IVLU returned 11.63%/yr vs 9.68%/yr for XEF.TO. A 0.66 correlation means they provide meaningful diversification when combined. IVLU charges 0.30%/yr vs 0.23%/yr for XEF.TO.

Performance

IVLU vs. XEF.TO - Performance Comparison

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

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Different Trading Currencies

IVLU is traded in USD, while XEF.TO is traded in CAD. To make them comparable, the XEF.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 12.96% return, which is significantly higher than XEF.TO's 9.17% return. Over the past 10 years, IVLU has outperformed XEF.TO with an annualized return of 11.63%, while XEF.TO has yielded a comparatively lower 9.68% annualized return.

IVLU

1D
0.56%
1M
0.70%
YTD
12.96%
6M
14.33%
1Y
33.78%
3Y*
23.53%
5Y*
14.06%
10Y*
11.63%

XEF.TO

1D
0.28%
1M
0.80%
YTD
9.17%
6M
10.97%
1Y
21.14%
3Y*
16.28%
5Y*
7.76%
10Y*
9.68%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IVLU vs. XEF.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IVLU
iShares MSCI International Value Factor ETF		12.96%46.09%6.76%20.07%-5.73%15.60%-4.50%15.60%-15.10%23.10%
XEF.TO
iShares Core MSCI EAFE IMI Index ETF		9.17%31.70%3.30%18.02%-14.92%10.41%8.71%20.83%-13.90%26.79%

Correlation

The correlation between IVLU and XEF.TO is 0.82, 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

0.82

Correlation (3Y)
Calculated over the trailing 3-year period

0.77

Correlation (5Y)
Calculated over the trailing 5-year period

0.73

Correlation (10Y)
Calculated over the trailing 10-year period

0.70

Correlation (All Time)
Calculated using the full available price history since Jul 15, 2015

0.66

The correlation between IVLU and XEF.TO shifts across timeframes, from 0.66 (all time) to 0.82 (1 year), reflecting how their relationship changes across market environments.

IVLU vs. XEF.TO - Sectors Allocation Comparison

Sectors
IVLU
XEF.TO

Financial Services

25.3%
22.9%

Industrials

17.2%
20.5%

Technology

11.3%
10.2%

Healthcare

9.7%
9.8%

Basic Materials

7.5%
6.6%

Consumer Cyclical

7.4%
8.2%

Consumer Defensive

6.3%
6.4%

Energy

5.1%
4.0%

Communication Services

4.0%
4.4%

Utilities

3.3%
3.8%

Real Estate

1.5%
3.1%

Financial Services

IVLU
25.3%
XEF.TO
22.9%

Industrials

IVLU
17.2%
XEF.TO
20.5%

Technology

IVLU
11.3%
XEF.TO
10.2%

Healthcare

IVLU
9.7%
XEF.TO
9.8%

Basic Materials

IVLU
7.5%
XEF.TO
6.6%

Consumer Cyclical

IVLU
7.4%
XEF.TO
8.2%

Consumer Defensive

IVLU
6.3%
XEF.TO
6.4%

Energy

IVLU
5.1%
XEF.TO
4.0%

Communication Services

IVLU
4.0%
XEF.TO
4.4%

Utilities

IVLU
3.3%
XEF.TO
3.8%

Real Estate

IVLU
1.5%
XEF.TO
3.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI International Value Factor ETF

iShares Core MSCI EAFE IMI Index ETF

Often compared with IVLU:
IVLU vs. DFIVIVLU vs. FIVAIVLU vs. VXUSIVLU vs. IDMOIVLU vs. IEFAIVLU vs. DISVIVLU vs. SFNNX
Often compared with XEF.TO:
XEF.TO vs. XEC.TOXEF.TO vs. VIU.TOXEF.TO vs. ZEA.TOXEF.TO vs. XFH.TOXEF.TO vs. IEFAXEF.TO vs. XIC.TOXEF.TO vs. XEF-U.TO

Return for Risk

IVLU vs. XEF.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IVLU
IVLU Risk / Return Rank: 7373
Overall Rank
IVLU Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
IVLU Sortino Ratio Rank: 7777
Sortino Ratio Rank
IVLU Omega Ratio Rank: 7676
Omega Ratio Rank
IVLU Calmar Ratio Rank: 6767
Calmar Ratio Rank
IVLU Martin Ratio Rank: 6969
Martin Ratio Rank
XEF.TO
XEF.TO Risk / Return Rank: 5555
Overall Rank
XEF.TO Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
XEF.TO Sortino Ratio Rank: 5858
Sortino Ratio Rank
XEF.TO Omega Ratio Rank: 5757
Omega Ratio Rank
XEF.TO Calmar Ratio Rank: 4848
Calmar Ratio Rank
XEF.TO Martin Ratio Rank: 5555
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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI International Value Factor ETF (IVLU) and iShares Core MSCI EAFE IMI Index ETF (XEF.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.

IVLUXEF.TODifference
Sharpe ratioReturn per unit of total volatility
2.17
1.40

+0.77

Sortino ratioReturn per unit of downside risk
2.98
2.06

+0.92

Omega ratioGain probability vs. loss probability

1.39

1.26

+0.13

Calmar ratioReturn relative to maximum drawdown

2.90

1.83

+1.07

Martin ratioReturn relative to average drawdown

11.01

7.10

+3.91

IVLU vs. XEF.TO - Sharpe Ratio Comparison

The current IVLU Sharpe Ratio is 2.17, which is higher than the XEF.TO Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of IVLU and XEF.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.

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Drawdowns

IVLU vs. XEF.TO - Drawdown Comparison

The maximum IVLU drawdown since its inception was -41.85%, which is greater than XEF.TO's maximum drawdown of -34.33%. Use the drawdown chart below to compare losses from any high point for IVLU and XEF.TO.

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Drawdown Indicators

IVLUXEF.TODifference

Max Drawdown

Largest peak-to-trough decline

-41.85%

-34.33%

-7.52%

Max Drawdown (1Y)

Largest decline over 1 year

-11.69%

-11.58%

-0.11%

Max Drawdown (3Y)

Largest decline over 3 years

-15.48%

-13.93%

-1.55%

Max Drawdown (5Y)

Largest decline over 5 years

-26.04%

-31.05%

+5.01%

Max Drawdown (10Y)

Largest decline over 10 years

-41.85%

-34.33%

-7.52%

Current Drawdown

Current decline from peak

-0.53%

-1.02%

+0.49%

Average Drawdown

Average peak-to-trough decline

-8.57%

-7.13%

-1.44%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.09%

2.99%

+0.10%

Volatility

IVLU vs. XEF.TO - Volatility Comparison

iShares MSCI International Value Factor ETF (IVLU) and iShares Core MSCI EAFE IMI Index ETF (XEF.TO) have volatilities of 5.44% and 5.32%, 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

IVLUXEF.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.44%

5.32%

+0.12%

Volatility (6M)

Calculated over the trailing 6-month period

12.85%

12.60%

+0.25%

Volatility (1Y)

Calculated over the trailing 1-year period

15.65%

15.18%

+0.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.58%

15.04%

+1.54%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.66%

16.23%

+1.43%

IVLU vs. XEF.TO - Expense Ratio Comparison

IVLU has a 0.30% expense ratio, which is higher than XEF.TO's 0.23% expense ratio.

Dividends

IVLU vs. XEF.TO - Dividend Comparison

IVLU's dividend yield for the trailing twelve months is around 3.28%, more than XEF.TO's 2.18% yield.

PositionTTM20252024202320222021202020192018201720162015
IVLU
iShares MSCI International Value Factor ETF		3.28%3.71%4.46%4.69%3.59%3.47%2.05%3.53%2.82%2.87%2.53%0.93%
XEF.TO
iShares Core MSCI EAFE IMI Index ETF		2.18%2.43%2.76%2.75%2.93%2.42%1.93%2.71%2.75%2.11%2.45%2.42%

Frequently Asked Questions

IVLU and XEF.TO have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XEF.TO is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XEF.TO is cheaper with a 0.23% expense ratio, compared with 0.30% for IVLU.

IVLU tracks MSCI World ex USA Enhanced Value Index, while XEF.TO tracks MSCI EAFE Investable Market Index (CAD). Their fees differ too: 0.30% for IVLU and 0.23% for XEF.TO.

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