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

TILV.TO vs. XEF.TO

Last updated Jun 4, 2026

TILV.TO (TD Q International Low Volatility ETF) and XEF.TO (iShares Core MSCI EAFE IMI Index ETF) are both Foreign Large Cap Equities funds. TILV.TO is actively managed, while XEF.TO is passively managed. Over the past 5 years, TILV.TO returned 10.23%/yr vs 10.89%/yr for XEF.TO. At a 0.43 correlation, their price movements are largely independent. TILV.TO charges 0.40%/yr vs 0.23%/yr for XEF.TO.

Performance

TILV.TO vs. XEF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD Q International Low Volatility ETF (TILV.TO) 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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Returns By Period

In the year-to-date period, TILV.TO achieves a 6.87% return, which is significantly lower than XEF.TO's 9.95% return.

TILV.TO

1D
-0.05%
1M
0.99%
YTD
6.87%
6M
6.51%
1Y
13.37%
3Y*
14.53%
5Y*
10.23%
10Y*
—

XEF.TO

1D
-0.41%
1M
5.38%
YTD
9.95%
6M
10.72%
1Y
23.12%
3Y*
17.83%
5Y*
10.89%
10Y*
9.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TILV.TO vs. XEF.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
TILV.TO
TD Q International Low Volatility ETF		6.87%19.69%13.19%8.85%-4.94%14.06%-5.88%4.32%
XEF.TO
iShares Core MSCI EAFE IMI Index ETF		9.95%25.69%12.04%15.21%-9.53%10.36%6.13%6.64%

Correlation

The correlation between TILV.TO and XEF.TO is 0.75, 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

0.75

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

0.61

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

0.50

Correlation (All Time)
Calculated using the full available price history since May 13, 2019

0.43

Over the past year, TILV.TO and XEF.TO have become more correlated (0.75) than their long-term average of 0.43, meaning their price movements have been converging.

TILV.TO vs. XEF.TO - Sectors Allocation Comparison

Sectors
TILV.TO
XEF.TO

Financial Services

21.0%
22.9%

Consumer Defensive

19.0%
6.4%

Communication Services

17.3%
4.4%

Industrials

11.2%
20.5%

Healthcare

9.8%
9.8%

Utilities

8.1%
3.8%

Real Estate

4.8%
3.1%

Energy

4.8%
4.0%

Consumer Cyclical

2.8%
8.2%

Basic Materials

0.6%
6.6%

Technology

0.6%
10.2%

Financial Services

TILV.TO
21.0%
XEF.TO
22.9%

Consumer Defensive

TILV.TO
19.0%
XEF.TO
6.4%

Communication Services

TILV.TO
17.3%
XEF.TO
4.4%

Industrials

TILV.TO
11.2%
XEF.TO
20.5%

Healthcare

TILV.TO
9.8%
XEF.TO
9.8%

Utilities

TILV.TO
8.1%
XEF.TO
3.8%

Real Estate

TILV.TO
4.8%
XEF.TO
3.1%

Energy

TILV.TO
4.8%
XEF.TO
4.0%

Consumer Cyclical

TILV.TO
2.8%
XEF.TO
8.2%

Basic Materials

TILV.TO
0.6%
XEF.TO
6.6%

Technology

TILV.TO
0.6%
XEF.TO
10.2%

Compare stocks, funds, or ETFs

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TD Q International Low Volatility ETF

iShares Core MSCI EAFE IMI Index ETF

Often compared with TILV.TO:
TILV.TO vs. VVO.TOTILV.TO vs. FCIL.NEOTILV.TO vs. QDX.TOTILV.TO vs. RIDH.TOTILV.TO vs. TINF.TOTILV.TO vs. ZLI.TOTILV.TO vs. FCIV.TO
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

TILV.TO vs. XEF.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TILV.TO
TILV.TO Risk / Return Rank: 3636
Overall Rank
TILV.TO Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
TILV.TO Sortino Ratio Rank: 3232
Sortino Ratio Rank
TILV.TO Omega Ratio Rank: 3535
Omega Ratio Rank
TILV.TO Calmar Ratio Rank: 3838
Calmar Ratio Rank
TILV.TO Martin Ratio Rank: 4040
Martin Ratio Rank
XEF.TO
XEF.TO Risk / Return Rank: 4747
Overall Rank
XEF.TO Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
XEF.TO Sortino Ratio Rank: 4848
Sortino Ratio Rank
XEF.TO Omega Ratio Rank: 4848
Omega Ratio Rank
XEF.TO Calmar Ratio Rank: 4141
Calmar Ratio Rank
XEF.TO Martin Ratio Rank: 4848
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.

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

This table presents a comparison of risk-adjusted performance metrics for TD Q International Low Volatility ETF (TILV.TO) 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.

TILV.TOXEF.TODifference
Sharpe ratioReturn per unit of total volatility
1.21
1.68

-0.47

Sortino ratioReturn per unit of downside risk
1.69
2.41

-0.72

Omega ratioGain probability vs. loss probability

1.23

1.31

-0.08

Calmar ratioReturn relative to maximum drawdown

1.89

2.06

-0.17

Martin ratioReturn relative to average drawdown

6.15

8.22

-2.07

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TILV.TO vs. XEF.TO - Sharpe Ratio Comparison

The current TILV.TO Sharpe Ratio is 1.21, which is comparable to the XEF.TO Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of TILV.TO 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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Sharpe Ratios by Period

TILV.TOXEF.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.21

1.68

-0.47

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.03

0.81

+0.22

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.66

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.65

0.71

-0.05

Drawdowns

TILV.TO vs. XEF.TO - Drawdown Comparison

The maximum TILV.TO drawdown since its inception was -26.64%, smaller than the maximum XEF.TO drawdown of -28.51%. Use the drawdown chart below to compare losses from any high point for TILV.TO and XEF.TO.

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Drawdown Indicators

TILV.TOXEF.TODifference

Max Drawdown

Largest peak-to-trough decline

-26.64%

-28.51%

+1.87%

Max Drawdown (1Y)

Largest decline over 1 year

-7.11%

-11.27%

+4.16%

Max Drawdown (3Y)

Largest decline over 3 years

-7.62%

-14.32%

+6.70%

Max Drawdown (5Y)

Largest decline over 5 years

-16.32%

-24.58%

+8.26%

Max Drawdown (10Y)

Largest decline over 10 years

—

-28.51%

—

Current Drawdown

Current decline from peak

-4.73%

-1.09%

-3.64%

Average Drawdown

Average peak-to-trough decline

-4.28%

-4.62%

+0.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.18%

2.82%

-0.64%

Volatility

TILV.TO vs. XEF.TO - Volatility Comparison

TD Q International Low Volatility ETF (TILV.TO) has a higher volatility of 5.45% compared to iShares Core MSCI EAFE IMI Index ETF (XEF.TO) at 4.77%. This indicates that TILV.TO's price experiences larger fluctuations and is considered to be riskier than XEF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TILV.TOXEF.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.45%

4.77%

+0.68%

Volatility (6M)

Calculated over the trailing 6-month period

9.29%

11.56%

-2.27%

Volatility (1Y)

Calculated over the trailing 1-year period

11.13%

13.85%

-2.72%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.04%

13.58%

-3.54%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.67%

14.85%

-3.18%

TILV.TO vs. XEF.TO - Expense Ratio Comparison

TILV.TO has a 0.40% expense ratio, which is higher than XEF.TO's 0.23% expense ratio.

Dividends

TILV.TO vs. XEF.TO - Dividend Comparison

TILV.TO's dividend yield for the trailing twelve months is around 2.95%, more than XEF.TO's 2.21% yield.

PositionTTM20252024202320222021202020192018201720162015
TILV.TO
TD Q International Low Volatility ETF		2.95%3.08%3.34%3.51%2.81%2.78%2.99%2.10%0.00%0.00%0.00%0.00%
XEF.TO
iShares Core MSCI EAFE IMI Index ETF		2.21%2.43%2.76%2.75%2.93%2.42%1.93%2.72%2.76%2.10%2.42%2.42%

Frequently Asked Questions

TILV.TO and XEF.TO have a correlation of 0.75, 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 0.40% for TILV.TO.

They also come from different issuers: TD and iShares. Their fees differ too: 0.40% for TILV.TO and 0.23% for XEF.TO.

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