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VEF.TO vs. XIN.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEF.TO vs. XIN.TO

Last updated Jun 4, 2026

VEF.TO (Vanguard FTSE Developed All Cap Ex US) and XIN.TO (iShares MSCI EAFE Index ETF (CAD-Hedged)) are both Global Equities funds - VEF.TO tracks the Spliced FTSE Developed ex US Index Hedged in CAD while XIN.TO tracks the MSCI EAFE 100% Hedged to CAD Index. Both are passively managed. Over the past 10 years, VEF.TO returned 11.33%/yr vs 12.75%/yr for XIN.TO. With a 0.95 correlation, they move nearly in lockstep. VEF.TO charges 0.22%/yr vs 0.52%/yr for XIN.TO.

Performance

VEF.TO vs. XIN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Developed All Cap Ex US (VEF.TO) and iShares MSCI EAFE Index ETF (CAD-Hedged) (XIN.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, VEF.TO achieves a 16.05% return, which is significantly higher than XIN.TO's 9.11% return. Over the past 10 years, VEF.TO has underperformed XIN.TO with an annualized return of 11.33%, while XIN.TO has yielded a comparatively higher 12.75% annualized return.

VEF.TO

1D
-0.44%
1M
7.02%
YTD
16.05%
6M
18.30%
1Y
33.85%
3Y*
19.04%
5Y*
12.71%
10Y*
11.33%

XIN.TO

1D
-0.52%
1M
4.48%
YTD
9.11%
6M
10.87%
1Y
21.23%
3Y*
16.54%
5Y*
15.09%
10Y*
12.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VEF.TO vs. XIN.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VEF.TO
Vanguard FTSE Developed All Cap Ex US		16.05%24.61%10.91%18.02%-7.54%18.04%2.10%22.61%-11.96%16.90%
XIN.TO
iShares MSCI EAFE Index ETF (CAD-Hedged)		9.11%20.30%14.27%19.36%1.59%25.71%-0.02%24.88%-10.05%16.34%

Correlation

The correlation between VEF.TO and XIN.TO is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

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

0.96

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

0.95

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

0.95

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

0.96

Correlation (All Time)
Calculated using the full available price history since Dec 7, 2011

0.95

The correlation between VEF.TO and XIN.TO has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

VEF.TO vs. XIN.TO - Sectors Allocation Comparison

Sectors
VEF.TO
XIN.TO

Financial Services

23.3%
23.3%

Industrials

19.2%
16.6%

Technology

13.8%
10.9%

Healthcare

8.2%
9.5%

Basic Materials

7.5%
5.7%

Consumer Cyclical

7.5%
7.2%

Consumer Defensive

5.6%
6.8%

Energy

5.4%
3.3%

Communication Services

3.4%
4.0%

Utilities

3.3%
3.1%

Real Estate

2.7%
1.6%

Financial Services

VEF.TO
23.3%
XIN.TO
23.3%

Industrials

VEF.TO
19.2%
XIN.TO
16.6%

Technology

VEF.TO
13.8%
XIN.TO
10.9%

Healthcare

VEF.TO
8.2%
XIN.TO
9.5%

Basic Materials

VEF.TO
7.5%
XIN.TO
5.7%

Consumer Cyclical

VEF.TO
7.5%
XIN.TO
7.2%

Consumer Defensive

VEF.TO
5.6%
XIN.TO
6.8%

Energy

VEF.TO
5.4%
XIN.TO
3.3%

Communication Services

VEF.TO
3.4%
XIN.TO
4.0%

Utilities

VEF.TO
3.3%
XIN.TO
3.1%

Real Estate

VEF.TO
2.7%
XIN.TO
1.6%

Compare stocks, funds, or ETFs

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

Vanguard FTSE Developed All Cap Ex US

iShares MSCI EAFE Index ETF (CAD-Hedged)

Often compared with VEF.TO:
VEF.TO vs. XEF.TOVEF.TO vs. VDU.TOVEF.TO vs. VEAVEF.TO vs. VFV.TOVEF.TO vs. VXUSVEF.TO vs. XEH.TOVEF.TO vs. VUG
Often compared with XIN.TO:
XIN.TO vs. XEF.TOXIN.TO vs. XFH.TOXIN.TO vs. XWD.TOXIN.TO vs. XIU.TOXIN.TO vs. GBAL.TOXIN.TO vs. XUS-U.TOXIN.TO vs. XDW0.L

Return for Risk

VEF.TO vs. XIN.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VEF.TO
VEF.TO Risk / Return Rank: 7676
Overall Rank
VEF.TO Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
VEF.TO Sortino Ratio Rank: 7878
Sortino Ratio Rank
VEF.TO Omega Ratio Rank: 8181
Omega Ratio Rank
VEF.TO Calmar Ratio Rank: 6868
Calmar Ratio Rank
VEF.TO Martin Ratio Rank: 7676
Martin Ratio Rank
XIN.TO
XIN.TO Risk / Return Rank: 4848
Overall Rank
XIN.TO Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
XIN.TO Sortino Ratio Rank: 4747
Sortino Ratio Rank
XIN.TO Omega Ratio Rank: 5050
Omega Ratio Rank
XIN.TO Calmar Ratio Rank: 4444
Calmar Ratio Rank
XIN.TO Martin Ratio Rank: 5252
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.

VEF.TO vs. XIN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed All Cap Ex US (VEF.TO) and iShares MSCI EAFE Index ETF (CAD-Hedged) (XIN.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.

VEF.TOXIN.TODifference
Sharpe ratioReturn per unit of total volatility
2.59
1.66

+0.93

Sortino ratioReturn per unit of downside risk
3.54
2.37

+1.17

Omega ratioGain probability vs. loss probability

1.50

1.32

+0.18

Calmar ratioReturn relative to maximum drawdown

3.44

2.19

+1.24

Martin ratioReturn relative to average drawdown

14.77

8.95

+5.82

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

VEF.TO vs. XIN.TO - Sharpe Ratio Comparison

The current VEF.TO Sharpe Ratio is 2.59, which is higher than the XIN.TO Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of VEF.TO and XIN.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

VEF.TOXIN.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.59

1.66

+0.93

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.95

1.03

-0.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.73

0.78

-0.04

Sharpe Ratio (All Time)

Calculated using the full available price history

0.71

0.39

+0.32

Drawdowns

VEF.TO vs. XIN.TO - Drawdown Comparison

The maximum VEF.TO drawdown since its inception was -33.03%, smaller than the maximum XIN.TO drawdown of -58.14%. Use the drawdown chart below to compare losses from any high point for VEF.TO and XIN.TO.

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Drawdown Indicators

VEF.TOXIN.TODifference

Max Drawdown

Largest peak-to-trough decline

-33.03%

-58.14%

+25.11%

Max Drawdown (1Y)

Largest decline over 1 year

-9.89%

-9.72%

-0.17%

Max Drawdown (3Y)

Largest decline over 3 years

-13.78%

-14.23%

+0.45%

Max Drawdown (5Y)

Largest decline over 5 years

-16.35%

-15.40%

-0.95%

Max Drawdown (10Y)

Largest decline over 10 years

-33.03%

-33.68%

+0.65%

Current Drawdown

Current decline from peak

-0.44%

-0.72%

+0.28%

Average Drawdown

Average peak-to-trough decline

-4.27%

-12.36%

+8.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.30%

2.38%

-0.08%

Volatility

VEF.TO vs. XIN.TO - Volatility Comparison

Vanguard FTSE Developed All Cap Ex US (VEF.TO) has a higher volatility of 4.94% compared to iShares MSCI EAFE Index ETF (CAD-Hedged) (XIN.TO) at 3.99%. This indicates that VEF.TO's price experiences larger fluctuations and is considered to be riskier than XIN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VEF.TOXIN.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.94%

3.99%

+0.95%

Volatility (6M)

Calculated over the trailing 6-month period

11.06%

10.68%

+0.38%

Volatility (1Y)

Calculated over the trailing 1-year period

13.11%

12.83%

+0.28%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.51%

14.72%

-1.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.50%

16.44%

-0.94%

VEF.TO vs. XIN.TO - Expense Ratio Comparison

VEF.TO has a 0.22% expense ratio, which is lower than XIN.TO's 0.52% expense ratio.

Dividends

VEF.TO vs. XIN.TO - Dividend Comparison

VEF.TO's dividend yield for the trailing twelve months is around 2.05%, less than XIN.TO's 2.66% yield.

PositionTTM20252024202320222021202020192018201720162015
VEF.TO
Vanguard FTSE Developed All Cap Ex US		2.05%2.61%2.55%2.50%2.21%2.55%1.73%2.41%2.64%2.21%2.31%2.39%
XIN.TO
iShares MSCI EAFE Index ETF (CAD-Hedged)		2.66%2.90%2.66%2.60%2.27%2.98%2.15%3.06%3.43%2.60%2.90%2.80%

Frequently Asked Questions

With a correlation of 0.96, VEF.TO and XIN.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, VEF.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VEF.TO is cheaper with a 0.22% expense ratio, compared with 0.52% for XIN.TO.

VEF.TO tracks Spliced FTSE Developed ex US Index Hedged in CAD, while XIN.TO tracks MSCI EAFE 100% Hedged to CAD Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.22% for VEF.TO and 0.52% for XIN.TO.

Portfolio Optimizer

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