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LEAD.TO vs. XEF-U.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

LEAD.TO vs. XEF-U.TO

Last updated Jul 25, 2026
Documentation

LEAD.TO (Evolve Future Leadership Fund) and XEF-U.TO (iShares Core MSCI EAFE IMI Index ETF) are both Global Equities funds. LEAD.TO is actively managed, while XEF-U.TO is passively managed. Over the past 5 years, LEAD.TO returned 5.58%/yr vs 11.04%/yr for XEF-U.TO. At a 0.18 correlation, their price movements are largely independent. LEAD.TO charges 0.92%/yr vs 0.21%/yr for XEF-U.TO.

Performance

LEAD.TO vs. XEF-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Future Leadership Fund (LEAD.TO) and iShares Core MSCI EAFE IMI Index ETF (XEF-U.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, LEAD.TO achieves a -4.13% return, which is significantly lower than XEF-U.TO's 12.61% return.

LEAD.TO

1D
-1.14%
1M
1.87%
6M
-0.68%
YTD
-4.13%
1Y
-3.93%
3Y*
18.17%
5Y*
5.58%
10Y*
—
ALL TIME*
8.63%

XEF-U.TO

1D
0.82%
1M
0.32%
6M
7.12%
YTD
12.61%
1Y
21.73%
3Y*
17.94%
5Y*
11.04%
10Y*
6.67%
ALL TIME*
9.41%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

LEAD.TO

Evolve Future Leadership Fund
CA$5.33KCA$6.18KCA$7.84K

XEF-U.TO

iShares Core MSCI EAFE IMI Index ETF
CA$316.42KCA$331.50KCA$319.99K

LEAD.TO vs. XEF-U.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
LEAD.TO
Evolve Future Leadership Fund		-4.13%12.13%38.23%34.98%-34.79%14.98%7.95%
XEF-U.TO
iShares Core MSCI EAFE IMI Index ETF		12.61%25.69%11.75%13.94%-9.57%11.30%9.02%

Correlation

The correlation between LEAD.TO and XEF-U.TO is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.29

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

0.17

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

0.17

Correlation (All Time)
Calculated using the full available price history since Sep 14, 2020

0.18

The correlation between LEAD.TO and XEF-U.TO shifts across timeframes, from 0.17 (3 years) to 0.29 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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

Evolve Future Leadership Fund

iShares Core MSCI EAFE IMI Index ETF

Often compared with LEAD.TO:
LEAD.TO vs. HYLD.TOLEAD.TO vs. CNCC.TOLEAD.TO vs. FDN.TOLEAD.TO vs. TEC.TOLEAD.TO vs. TLF.TOLEAD.TO vs. XIT.TO
Often compared with XEF-U.TO:
XEF-U.TO vs. XEF.TOXEF-U.TO vs. VEAXEF-U.TO vs. VXUSXEF-U.TO vs. IEFAXEF-U.TO vs. ZSP.TOXEF-U.TO vs. VTIXEF-U.TO vs. IEMG

Return for Risk

LEAD.TO vs. XEF-U.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
LEAD.TO
LEAD.TO Risk / Return Rank: 1010
Overall Rank
LEAD.TO Sharpe Ratio Rank: 99
Sharpe Ratio Rank
LEAD.TO Sortino Ratio Rank: 99
Sortino Ratio Rank
LEAD.TO Omega Ratio Rank: 99
Omega Ratio Rank
LEAD.TO Calmar Ratio Rank: 1010
Calmar Ratio Rank
LEAD.TO Martin Ratio Rank: 1010
Martin Ratio Rank
XEF-U.TO
XEF-U.TO Risk / Return Rank: 4848
Overall Rank
XEF-U.TO Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
XEF-U.TO Sortino Ratio Rank: 4848
Sortino Ratio Rank
XEF-U.TO Omega Ratio Rank: 4848
Omega Ratio Rank
XEF-U.TO Calmar Ratio Rank: 4545
Calmar Ratio Rank
XEF-U.TO Martin Ratio Rank: 5151
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.

LEAD.TO vs. XEF-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Future Leadership Fund (LEAD.TO) and iShares Core MSCI EAFE IMI Index ETF (XEF-U.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.

LEAD.TOXEF-U.TODifference
Sharpe ratioReturn per unit of total volatility
-0.18
1.41

-1.59

Sortino ratioReturn per unit of downside risk
-0.12
2.04

-2.16

Omega ratioGain probability vs. loss probability

0.99

1.25

-0.27

Calmar ratioReturn relative to maximum drawdown

-0.15

1.94

-2.09

Martin ratioReturn relative to average drawdown

-0.33

7.42

-7.74

LEAD.TO vs. XEF-U.TO - Sharpe Ratio Comparison

The current LEAD.TO Sharpe Ratio is -0.18, which is lower than the XEF-U.TO Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of LEAD.TO and XEF-U.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

LEAD.TO vs. XEF-U.TO - Drawdown Comparison

The maximum LEAD.TO drawdown since its inception was -39.80%, smaller than the maximum XEF-U.TO drawdown of -42.21%. Use the drawdown chart below to compare losses from any high point for LEAD.TO and XEF-U.TO.

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Drawdown Indicators

LEAD.TOXEF-U.TODifference

Max Drawdown

Largest peak-to-trough decline

-39.80%

-42.21%

+2.41%

Max Drawdown (1Y)

Largest decline over 1 year

-22.65%

-11.34%

-11.31%

Max Drawdown (3Y)

Largest decline over 3 years

-22.65%

-14.64%

-8.01%

Max Drawdown (5Y)

Largest decline over 5 years

-39.80%

-25.28%

-14.52%

Max Drawdown (10Y)

Largest decline over 10 years

—

-42.21%

—

Current Drawdown

Current decline from peak

-9.30%

-2.72%

-6.58%

Average Drawdown

Average peak-to-trough decline

-13.81%

-8.97%

-4.84%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.12%

2.96%

+7.16%

Volatility

LEAD.TO vs. XEF-U.TO - Volatility Comparison

Evolve Future Leadership Fund (LEAD.TO) has a higher volatility of 5.40% compared to iShares Core MSCI EAFE IMI Index ETF (XEF-U.TO) at 4.00%. This indicates that LEAD.TO's price experiences larger fluctuations and is considered to be riskier than XEF-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

LEAD.TOXEF-U.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.40%

4.00%

+1.40%

Volatility (6M)

Calculated over the trailing 6-month period

14.99%

13.48%

+1.51%

Volatility (1Y)

Calculated over the trailing 1-year period

18.57%

15.60%

+2.97%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.80%

17.64%

+4.16%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.02%

18.13%

+2.89%

LEAD.TO vs. XEF-U.TO - Expense Ratio Comparison

LEAD.TO has a 0.92% expense ratio, which is higher than XEF-U.TO's 0.21% expense ratio.

Dividends

LEAD.TO vs. XEF-U.TO - Dividend Comparison

LEAD.TO's dividend yield for the trailing twelve months is around 11.67%, more than XEF-U.TO's 2.36% yield.

PositionTTM20252024202320222021202020192018201720162015
LEAD.TO
Evolve Future Leadership Fund		11.67%9.21%5.84%7.25%9.02%5.44%1.48%0.00%0.00%0.00%0.00%0.00%
XEF-U.TO
iShares Core MSCI EAFE IMI Index ETF		2.36%2.44%2.85%2.76%2.98%2.43%1.86%2.72%2.07%1.62%1.84%1.86%

Frequently Asked Questions

LEAD.TO and XEF-U.TO have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XEF-U.TO is cheaper at 0.21% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XEF-U.TO is cheaper with a 0.21% expense ratio, compared with 0.92% for LEAD.TO.

They also come from different issuers: Evolve Funds Group Inc. and iShares. Their fees differ too: 0.92% for LEAD.TO and 0.21% for XEF-U.TO.

Portfolio Optimizer

Find the right allocation for LEAD.TO and XEF-U.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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