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VEE.TO vs. XSEM.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEE.TO vs. XSEM.TO

Last updated Jun 4, 2026

VEE.TO (Vanguard FTSE Emerging Markets All Cap Index ETF) and XSEM.TO (iShares ESG Aware MSCI Emerging Markets Index ETF) are both Emerging Markets Equities funds - VEE.TO tracks the FTSE Emerging Markets All Cap China A Inclusion Index while XSEM.TO tracks the Morningstar EM GR CAD. Both are passively managed. Over the past 5 years, VEE.TO returned 7.50%/yr vs 9.59%/yr for XSEM.TO. A 0.79 correlation means they provide meaningful diversification when combined. VEE.TO charges 0.25%/yr vs 0.32%/yr for XSEM.TO.

Performance

VEE.TO vs. XSEM.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) and iShares ESG Aware MSCI Emerging Markets Index ETF (XSEM.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, VEE.TO achieves a 13.54% return, which is significantly lower than XSEM.TO's 28.13% return.

VEE.TO

1D
-0.90%
1M
4.93%
YTD
13.54%
6M
12.96%
1Y
31.71%
3Y*
18.62%
5Y*
7.50%
10Y*
9.01%

XSEM.TO

1D
-0.86%
1M
12.07%
YTD
28.13%
6M
29.29%
1Y
57.34%
3Y*
25.23%
5Y*
9.59%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VEE.TO vs. XSEM.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
VEE.TO
Vanguard FTSE Emerging Markets All Cap Index ETF		13.54%19.32%19.06%6.24%-12.78%0.05%12.32%5.75%
XSEM.TO
iShares ESG Aware MSCI Emerging Markets Index ETF		28.13%30.16%14.82%7.04%-17.24%-3.58%15.66%5.23%

Correlation

The correlation between VEE.TO and XSEM.TO is 0.92, 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

0.92

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

0.92

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

0.90

Correlation (All Time)
Calculated using the full available price history since Mar 25, 2019

0.79

The correlation between VEE.TO and XSEM.TO shifts across timeframes, from 0.79 (all time) to 0.92 (1 year), reflecting how their relationship changes across market environments.

VEE.TO vs. XSEM.TO - Sectors Allocation Comparison

Sectors
VEE.TO
XSEM.TO

Technology

26.3%
37.0%

Financial Services

20.5%
24.1%

Consumer Cyclical

11.2%
9.7%

Basic Materials

8.4%
4.5%

Industrials

7.9%
5.6%

Communication Services

7.8%
8.4%

Energy

4.7%
2.7%

Healthcare

4.1%
2.8%

Consumer Defensive

3.9%
2.3%

Utilities

3.0%
1.7%

Real Estate

2.3%
1.2%

Technology

VEE.TO
26.3%
XSEM.TO
37.0%

Financial Services

VEE.TO
20.5%
XSEM.TO
24.1%

Consumer Cyclical

VEE.TO
11.2%
XSEM.TO
9.7%

Basic Materials

VEE.TO
8.4%
XSEM.TO
4.5%

Industrials

VEE.TO
7.9%
XSEM.TO
5.6%

Communication Services

VEE.TO
7.8%
XSEM.TO
8.4%

Energy

VEE.TO
4.7%
XSEM.TO
2.7%

Healthcare

VEE.TO
4.1%
XSEM.TO
2.8%

Consumer Defensive

VEE.TO
3.9%
XSEM.TO
2.3%

Utilities

VEE.TO
3.0%
XSEM.TO
1.7%

Real Estate

VEE.TO
2.3%
XSEM.TO
1.2%

Compare stocks, funds, or ETFs

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Vanguard FTSE Emerging Markets All Cap Index ETF

iShares ESG Aware MSCI Emerging Markets Index ETF

Often compared with VEE.TO:
VEE.TO vs. XEC.TOVEE.TO vs. ZEM.TOVEE.TO vs. VFV.TOVEE.TO vs. XEQT.TOVEE.TO vs. VIDY.TOVEE.TO vs. VOOVEE.TO vs. VXUS
Often compared with XSEM.TO:
XSEM.TO vs. XDSR.TOXSEM.TO vs. XMM.TOXSEM.TO vs. XEQT.TOXSEM.TO vs. XEC.TOXSEM.TO vs. XEF.TOXSEM.TO vs. VE.TOXSEM.TO vs. ZEM.TO

Return for Risk

VEE.TO vs. XSEM.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VEE.TO
VEE.TO Risk / Return Rank: 6060
Overall Rank
VEE.TO Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
VEE.TO Sortino Ratio Rank: 6060
Sortino Ratio Rank
VEE.TO Omega Ratio Rank: 6363
Omega Ratio Rank
VEE.TO Calmar Ratio Rank: 5959
Calmar Ratio Rank
VEE.TO Martin Ratio Rank: 5959
Martin Ratio Rank
XSEM.TO
XSEM.TO Risk / Return Rank: 8585
Overall Rank
XSEM.TO Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
XSEM.TO Sortino Ratio Rank: 8383
Sortino Ratio Rank
XSEM.TO Omega Ratio Rank: 8686
Omega Ratio Rank
XSEM.TO Calmar Ratio Rank: 8585
Calmar Ratio Rank
XSEM.TO Martin Ratio Rank: 8383
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.

VEE.TO vs. XSEM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) and iShares ESG Aware MSCI Emerging Markets Index ETF (XSEM.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.

VEE.TOXSEM.TODifference
Sharpe ratioReturn per unit of total volatility
2.08
2.96

-0.88

Sortino ratioReturn per unit of downside risk
2.90
3.78

-0.87

Omega ratioGain probability vs. loss probability

1.39

1.54

-0.15

Calmar ratioReturn relative to maximum drawdown

2.97

4.69

-1.72

Martin ratioReturn relative to average drawdown

10.74

17.06

-6.32

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

VEE.TO vs. XSEM.TO - Sharpe Ratio Comparison

The current VEE.TO Sharpe Ratio is 2.08, which is comparable to the XSEM.TO Sharpe Ratio of 2.96. The chart below compares the historical Sharpe Ratios of VEE.TO and XSEM.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

VEE.TOXSEM.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.08

2.96

-0.88

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.49

0.57

-0.07

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.53

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.44

0.55

-0.11

Drawdowns

VEE.TO vs. XSEM.TO - Drawdown Comparison

The maximum VEE.TO drawdown since its inception was -29.84%, smaller than the maximum XSEM.TO drawdown of -37.03%. Use the drawdown chart below to compare losses from any high point for VEE.TO and XSEM.TO.

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Drawdown Indicators

VEE.TOXSEM.TODifference

Max Drawdown

Largest peak-to-trough decline

-29.84%

-37.03%

+7.19%

Max Drawdown (1Y)

Largest decline over 1 year

-10.74%

-12.30%

+1.56%

Max Drawdown (3Y)

Largest decline over 3 years

-14.97%

-15.17%

+0.20%

Max Drawdown (5Y)

Largest decline over 5 years

-26.10%

-33.18%

+7.08%

Max Drawdown (10Y)

Largest decline over 10 years

-29.84%

—

—

Current Drawdown

Current decline from peak

-0.90%

-0.86%

-0.04%

Average Drawdown

Average peak-to-trough decline

-8.73%

-13.17%

+4.44%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.96%

3.37%

-0.41%

Volatility

VEE.TO vs. XSEM.TO - Volatility Comparison

The current volatility for Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) is 6.04%, while iShares ESG Aware MSCI Emerging Markets Index ETF (XSEM.TO) has a volatility of 8.35%. This indicates that VEE.TO experiences smaller price fluctuations and is considered to be less risky than XSEM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VEE.TOXSEM.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.04%

8.35%

-2.31%

Volatility (6M)

Calculated over the trailing 6-month period

12.86%

17.02%

-4.16%

Volatility (1Y)

Calculated over the trailing 1-year period

15.31%

19.47%

-4.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.29%

17.06%

-1.77%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.97%

18.26%

-1.29%

VEE.TO vs. XSEM.TO - Expense Ratio Comparison

VEE.TO has a 0.25% expense ratio, which is lower than XSEM.TO's 0.32% expense ratio.

Dividends

VEE.TO vs. XSEM.TO - Dividend Comparison

VEE.TO's dividend yield for the trailing twelve months is around 1.91%, more than XSEM.TO's 1.41% yield.

PositionTTM20252024202320222021202020192018201720162015
VEE.TO
Vanguard FTSE Emerging Markets All Cap Index ETF		1.91%2.26%2.45%2.83%3.35%2.18%1.61%2.71%2.21%1.89%1.99%2.53%
XSEM.TO
iShares ESG Aware MSCI Emerging Markets Index ETF		1.41%1.80%2.12%1.12%2.29%2.50%1.16%2.46%0.00%0.00%0.00%0.00%

Frequently Asked Questions

With a correlation of 0.92, VEE.TO and XSEM.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, VEE.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VEE.TO is cheaper with a 0.25% expense ratio, compared with 0.32% for XSEM.TO.

VEE.TO tracks FTSE Emerging Markets All Cap China A Inclusion Index, while XSEM.TO tracks Morningstar EM GR CAD. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.25% for VEE.TO and 0.32% for XSEM.TO.

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