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PID.TO vs. XML.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PID.TO vs. XML.TO

Last updated Jul 25, 2026
Documentation

PID.TO (Purpose International Dividend Fund) and XML.TO (iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged)) are both Foreign Large Cap Equities funds. PID.TO is actively managed, while XML.TO is passively managed. Over the past 10 years, PID.TO returned 10.45%/yr vs 7.49%/yr for XML.TO. At a 0.44 correlation, their price movements are largely independent. PID.TO charges 0.65%/yr vs 0.40%/yr for XML.TO.

Performance

PID.TO vs. XML.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose International Dividend Fund (PID.TO) and iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged) (XML.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PID.TO achieves a 14.90% return, which is significantly higher than XML.TO's 9.26% return. Over the past 10 years, PID.TO has outperformed XML.TO with an annualized return of 10.45%, while XML.TO has yielded a comparatively lower 7.49% annualized return.

PID.TO

1D
0.77%
1M
2.96%
6M
12.68%
YTD
14.90%
1Y
28.81%
3Y*
21.82%
5Y*
14.46%
10Y*
10.45%
ALL TIME*
9.12%

XML.TO

1D
0.42%
1M
4.75%
6M
8.26%
YTD
9.26%
1Y
15.77%
3Y*
14.42%
5Y*
9.44%
10Y*
7.49%
ALL TIME*
7.71%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

PID.TO

Purpose International Dividend Fund
CA$137.95KCA$141.14KCA$191.06K

XML.TO

iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged)
CA$12.85KCA$7.78KCA$9.01K

PID.TO vs. XML.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PID.TO
Purpose International Dividend Fund		14.90%33.43%13.85%15.75%-2.67%7.76%-3.24%14.04%0.49%11.86%
XML.TO
iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged)		9.26%17.56%14.13%11.69%-6.94%13.27%-5.87%16.26%-4.34%15.14%

Correlation

The correlation between PID.TO and XML.TO is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.35

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

0.37

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

0.36

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

0.43

Correlation (All Time)
Calculated using the full available price history since Apr 11, 2016

0.44

Compare stocks, funds, or ETFs

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Purpose International Dividend Fund

iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged)

Often compared with PID.TO:
PID.TO vs. CPD.TOPID.TO vs. PDF.TOPID.TO vs. VRIF.TOPID.TO vs. XMV.TOPID.TO vs. XIC.TOPID.TO vs. SPYPID.TO vs. VGG.TO
Often compared with XML.TO:
XML.TO vs. XIN.TOXML.TO vs. XSP.TOXML.TO vs. XEQT.TOXML.TO vs. XMI.TOXML.TO vs. HXQ.TOXML.TO vs. XMW.TOXML.TO vs. XMU.TO

Return for Risk

PID.TO vs. XML.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PID.TO
PID.TO Risk / Return Rank: 8181
Overall Rank
PID.TO Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
PID.TO Sortino Ratio Rank: 8585
Sortino Ratio Rank
PID.TO Omega Ratio Rank: 8585
Omega Ratio Rank
PID.TO Calmar Ratio Rank: 7272
Calmar Ratio Rank
PID.TO Martin Ratio Rank: 7878
Martin Ratio Rank
XML.TO
XML.TO Risk / Return Rank: 7373
Overall Rank
XML.TO Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
XML.TO Sortino Ratio Rank: 7575
Sortino Ratio Rank
XML.TO Omega Ratio Rank: 8484
Omega Ratio Rank
XML.TO Calmar Ratio Rank: 6969
Calmar Ratio Rank
XML.TO Martin Ratio Rank: 6363
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.

PID.TO vs. XML.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose International Dividend Fund (PID.TO) and iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged) (XML.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.

PID.TOXML.TODifference
Sharpe ratioReturn per unit of total volatility
2.02
1.71

+0.31

Sortino ratioReturn per unit of downside risk
2.80
2.43

+0.37

Omega ratioGain probability vs. loss probability

1.37

1.36

+0.01

Calmar ratioReturn relative to maximum drawdown

2.61

2.45

+0.16

Martin ratioReturn relative to average drawdown

10.08

7.64

+2.44

PID.TO vs. XML.TO - Sharpe Ratio Comparison

The current PID.TO Sharpe Ratio is 2.02, which is comparable to the XML.TO Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of PID.TO and XML.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

PID.TO vs. XML.TO - Drawdown Comparison

The maximum PID.TO drawdown since its inception was -27.27%, roughly equal to the maximum XML.TO drawdown of -28.62%. Use the drawdown chart below to compare losses from any high point for PID.TO and XML.TO.

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Drawdown Indicators

PID.TOXML.TODifference

Max Drawdown

Largest peak-to-trough decline

-27.27%

-28.62%

+1.35%

Max Drawdown (1Y)

Largest decline over 1 year

-11.09%

-6.46%

-4.63%

Max Drawdown (3Y)

Largest decline over 3 years

-12.35%

-7.46%

-4.89%

Max Drawdown (5Y)

Largest decline over 5 years

-20.07%

-12.34%

-7.73%

Max Drawdown (10Y)

Largest decline over 10 years

-27.27%

-28.62%

+1.35%

Current Drawdown

Current decline from peak

-0.90%

0.00%

-0.90%

Average Drawdown

Average peak-to-trough decline

-4.12%

-3.43%

-0.69%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.87%

2.07%

+0.80%

Volatility

PID.TO vs. XML.TO - Volatility Comparison

Purpose International Dividend Fund (PID.TO) has a higher volatility of 3.82% compared to iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged) (XML.TO) at 2.68%. This indicates that PID.TO's price experiences larger fluctuations and is considered to be riskier than XML.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PID.TOXML.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.82%

2.68%

+1.14%

Volatility (6M)

Calculated over the trailing 6-month period

12.12%

7.79%

+4.33%

Volatility (1Y)

Calculated over the trailing 1-year period

14.33%

9.27%

+5.06%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.46%

9.81%

+2.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.79%

11.92%

+1.87%

PID.TO vs. XML.TO - Expense Ratio Comparison

PID.TO has a 0.65% expense ratio, which is higher than XML.TO's 0.40% expense ratio.

Dividends

PID.TO vs. XML.TO - Dividend Comparison

PID.TO's dividend yield for the trailing twelve months is around 2.75%, more than XML.TO's 2.66% yield.

PositionTTM20252024202320222021202020192018201720162015
PID.TO
Purpose International Dividend Fund		2.75%3.12%4.02%4.39%4.86%4.50%4.64%4.28%4.67%3.53%3.49%2.10%
XML.TO
iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged)		2.66%2.76%2.67%2.56%2.02%1.92%1.11%3.62%2.79%1.91%3.33%0.00%

Frequently Asked Questions

PID.TO and XML.TO have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XML.TO is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XML.TO is cheaper with a 0.40% expense ratio, compared with 0.65% for PID.TO.

They also come from different issuers: Purpose Investments Inc. and iShares. Their fees differ too: 0.65% for PID.TO and 0.40% for XML.TO.

Portfolio Optimizer

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