MIX.TO vs. XEC.TO

Last updated Jun 4, 2026

MIX.TO (Hamilton Enhanced Mixed Asset ETF) and XEC.TO (iShares Core MSCI Emerging Markets IMI Index ETF) are both exchange-traded funds - MIX.TO is a Diversified Portfolio fund tracking the Solactive Hamilton Mixed Asset Index, while XEC.TO is a Emerging Markets Equities fund tracking the Morningstar EM GR CAD. Both are passively managed. Over the past year, MIX.TO returned 28.31% vs 54.44% for XEC.TO. A 0.62 correlation means they provide meaningful diversification when combined. MIX.TO charges 0.00%/yr vs 0.28%/yr for XEC.TO.

Performance

MIX.TO vs. XEC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Hamilton Enhanced Mixed Asset ETF (MIX.TO) and iShares Core MSCI Emerging Markets IMI Index ETF (XEC.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MIX.TO achieves a 8.17% return, which is significantly lower than XEC.TO's 27.92% return.

MIX.TO

• 1D: -0.70%
• 1M: 3.91%
• YTD: 8.17%
• 6M: 7.84%
• 1Y: 28.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XEC.TO

• 1D: -0.88%
• 1M: 10.15%
• YTD: 27.92%
• 6M: 28.48%
• 1Y: 54.44%
• 3Y*: 24.69%
• 5Y*: 10.21%
• 10Y*: 10.71%

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

MIX.TO vs. XEC.TO - Yearly Performance Comparison

	2026 (YTD)	2025
MIX.TO Hamilton Enhanced Mixed Asset ETF	8.17%	25.24%
XEC.TO iShares Core MSCI Emerging Markets IMI Index ETF	27.92%	27.09%

Correlation

The correlation between MIX.TO and XEC.TO is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (All Time) Calculated using the full available price history since Apr 29, 2025	0.62

The correlation between MIX.TO and XEC.TO has been stable across timeframes, ranging from 0.62 to 0.64 - a consistent structural relationship.

Return for Risk

MIX.TO vs. XEC.TO — Risk / Return Rank

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

MIX.TO

MIX.TO Risk / Return Rank: 63
MIX.TO Sharpe Ratio Rank: 67
MIX.TO Sortino Ratio Rank: 66
MIX.TO Omega Ratio Rank: 66
MIX.TO Calmar Ratio Rank: 54
MIX.TO Martin Ratio Rank: 62

XEC.TO

XEC.TO Risk / Return Rank: 86
XEC.TO Sharpe Ratio Rank: 88
XEC.TO Sortino Ratio Rank: 85
XEC.TO Omega Ratio Rank: 88
XEC.TO Calmar Ratio Rank: 86
XEC.TO Martin Ratio Rank: 83

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.

MIX.TO vs. XEC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hamilton Enhanced Mixed Asset ETF (MIX.TO) and iShares Core MSCI Emerging Markets IMI Index ETF (XEC.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.

	MIX.TO	XEC.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.22	3.01	-0.79
Sortino ratio: Return per unit of downside risk	3.02	3.86	-0.84
Omega ratio: Gain probability vs. loss probability	1.40	1.56	-0.16
Calmar ratio: Return relative to maximum drawdown	2.66	4.86	-2.20
Martin ratio: Return relative to average drawdown	11.08	17.00	-5.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MIX.TO vs. XEC.TO - Sharpe Ratio Comparison

The current MIX.TO Sharpe Ratio is 2.22, which is comparable to the XEC.TO Sharpe Ratio of 3.01. The chart below compares the historical Sharpe Ratios of MIX.TO and XEC.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

	MIX.TO	XEC.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	3.01	-0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.65	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.53	0.52	+2.02

Drawdowns

MIX.TO vs. XEC.TO - Drawdown Comparison

The maximum MIX.TO drawdown since its inception was -10.71%, smaller than the maximum XEC.TO drawdown of -32.54%. Use the drawdown chart below to compare losses from any high point for MIX.TO and XEC.TO.

Drawdown Indicators

	MIX.TO	XEC.TO	Difference
Max Drawdown Largest peak-to-trough decline	-10.71%	-32.54%	+21.83%
Max Drawdown (1Y) Largest decline over 1 year	-10.71%	-11.25%	+0.54%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.07%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.14%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.54%	—
Current Drawdown Current decline from peak	-0.70%	-0.88%	+0.18%
Average Drawdown Average peak-to-trough decline	-1.38%	-9.56%	+8.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	3.21%	-0.65%

Volatility

MIX.TO vs. XEC.TO - Volatility Comparison

The current volatility for Hamilton Enhanced Mixed Asset ETF (MIX.TO) is 4.07%, while iShares Core MSCI Emerging Markets IMI Index ETF (XEC.TO) has a volatility of 7.80%. This indicates that MIX.TO experiences smaller price fluctuations and is considered to be less risky than XEC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MIX.TO	XEC.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	7.80%	-3.73%
Volatility (6M) Calculated over the trailing 6-month period	10.51%	15.85%	-5.34%
Volatility (1Y) Calculated over the trailing 1-year period	12.82%	18.19%	-5.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.63%	15.91%	-3.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.63%	17.60%	-4.97%

MIX.TO vs. XEC.TO - Expense Ratio Comparison

MIX.TO has a 0.00% expense ratio, which is lower than XEC.TO's 0.28% expense ratio.

Dividends

MIX.TO vs. XEC.TO - Dividend Comparison

MIX.TO's dividend yield for the trailing twelve months is around 1.57%, more than XEC.TO's 1.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MIX.TO Hamilton Enhanced Mixed Asset ETF	1.57%	1.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XEC.TO iShares Core MSCI Emerging Markets IMI Index ETF	1.50%	1.92%	2.03%	2.16%	2.28%	2.78%	1.64%	2.87%	2.66%	2.13%	1.80%	2.19%

Frequently Asked Questions

Can I hold both MIX.TO and XEC.TO in my portfolio?

MIX.TO and XEC.TO have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MIX.TO or XEC.TO?

On fees, MIX.TO is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MIX.TO or XEC.TO?

MIX.TO is cheaper with a 0.00% expense ratio, compared with 0.28% for XEC.TO.

What is the main difference between MIX.TO and XEC.TO?

MIX.TO is categorized as Diversified Portfolio, while XEC.TO is Emerging Markets Equities. MIX.TO tracks Solactive Hamilton Mixed Asset Index, while XEC.TO tracks Morningstar EM GR CAD. They also come from different issuers: Hamilton and iShares. Their fees differ too: 0.00% for MIX.TO and 0.28% for XEC.TO.