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

VFV.TO vs. XEF.TO

Last updated Jun 6, 2026

VFV.TO (Vanguard S&P 500 Index ETF) and XEF.TO (iShares Core MSCI EAFE IMI Index ETF) are both exchange-traded funds - VFV.TO is a S&P 500 fund tracking the S&P 500 Index, while XEF.TO is a Foreign Large Cap Equities fund tracking the MSCI EAFE Investable Market Index (CAD). Both are passively managed. A 0.70 correlation means they provide meaningful diversification when combined. VFV.TO charges 0.09%/yr vs 0.23%/yr for XEF.TO.

Performance

VFV.TO vs. XEF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard S&P 500 Index ETF (VFV.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, VFV.TO achieves a 10.06% return, which is significantly lower than XEF.TO's 10.86% return.

VFV.TO

1D
-2.35%
1M
2.71%
YTD
10.06%
6M
8.92%
1Y
—
3Y*
—
5Y*
—
10Y*
—

XEF.TO

1D
0.82%
1M
2.14%
YTD
10.86%
6M
12.33%
1Y
24.11%
3Y*
18.31%
5Y*
11.07%
10Y*
9.90%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025
VFV.TO
Vanguard S&P 500 Index ETF		10.06%14.91%
XEF.TO
iShares Core MSCI EAFE IMI Index ETF		10.86%11.35%

Correlation

The correlation between VFV.TO and XEF.TO is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (All Time)
Calculated using the full available price history since Jun 9, 2025

0.70

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

Sectors
VFV.TO
XEF.TO

Technology

35.7%
10.2%

Financial Services

11.6%
22.9%

Communication Services

11.3%
4.4%

Consumer Cyclical

10.2%
8.2%

Healthcare

8.5%
9.8%

Industrials

8.3%
20.5%

Consumer Defensive

4.9%
6.4%

Energy

3.5%
4.0%

Utilities

2.4%
3.8%

Real Estate

1.9%
3.1%

Basic Materials

1.8%
6.6%

Technology

VFV.TO
35.7%
XEF.TO
10.2%

Financial Services

VFV.TO
11.6%
XEF.TO
22.9%

Communication Services

VFV.TO
11.3%
XEF.TO
4.4%

Consumer Cyclical

VFV.TO
10.2%
XEF.TO
8.2%

Healthcare

VFV.TO
8.5%
XEF.TO
9.8%

Industrials

VFV.TO
8.3%
XEF.TO
20.5%

Consumer Defensive

VFV.TO
4.9%
XEF.TO
6.4%

Energy

VFV.TO
3.5%
XEF.TO
4.0%

Utilities

VFV.TO
2.4%
XEF.TO
3.8%

Real Estate

VFV.TO
1.9%
XEF.TO
3.1%

Basic Materials

VFV.TO
1.8%
XEF.TO
6.6%

Compare stocks, funds, or ETFs

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Vanguard S&P 500 Index ETF

iShares Core MSCI EAFE IMI Index ETF

Often compared with VFV.TO:
VFV.TO vs. XEQT.TOVFV.TO vs. VEQT.TOVFV.TO vs. VOOVFV.TO vs. QQC.TOVFV.TO vs. VSP.TOVFV.TO vs. VCN.TOVFV.TO vs. XQQ.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

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VFV.TO
XEF.TO
XEF.TO Risk / Return Rank: 5050
Overall Rank
XEF.TO Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
XEF.TO Sortino Ratio Rank: 5252
Sortino Ratio Rank
XEF.TO Omega Ratio Rank: 5353
Omega Ratio Rank
XEF.TO Calmar Ratio Rank: 4444
Calmar Ratio Rank
XEF.TO Martin Ratio Rank: 5151
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.

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

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 Index ETF (VFV.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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

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Sharpe Ratios by Period

VFV.TOXEF.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

1.73

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.82

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.67

—

Sharpe Ratio (All Time)

Calculated using the full available price history

2.30

0.71

+1.59

Drawdowns

VFV.TO vs. XEF.TO - Drawdown Comparison

The maximum VFV.TO drawdown since its inception was -8.62%, smaller than the maximum XEF.TO drawdown of -28.51%. Use the drawdown chart below to compare losses from any high point for VFV.TO and XEF.TO.

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Drawdown Indicators

VFV.TOXEF.TODifference

Max Drawdown

Largest peak-to-trough decline

-8.62%

-28.51%

+19.89%

Max Drawdown (1Y)

Largest decline over 1 year

—

-11.27%

—

Max Drawdown (3Y)

Largest decline over 3 years

—

-14.32%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-24.58%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-28.51%

—

Current Drawdown

Current decline from peak

-2.35%

-0.27%

-2.08%

Average Drawdown

Average peak-to-trough decline

-1.38%

-4.61%

+3.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

2.82%

—

Volatility

VFV.TO vs. XEF.TO - Volatility Comparison

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Volatility by Period

VFV.TOXEF.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

—

4.67%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

11.59%

—

Volatility (1Y)

Calculated over the trailing 1-year period

11.65%

13.85%

-2.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.65%

13.58%

-1.93%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.65%

14.85%

-3.20%

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

VFV.TO has a 0.09% expense ratio, which is lower than XEF.TO's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VFV.TO vs. XEF.TO - Dividend Comparison

VFV.TO's dividend yield for the trailing twelve months is around 0.85%, less than XEF.TO's 2.19% yield.

PositionTTM20252024202320222021202020192018201720162015
VFV.TO
Vanguard S&P 500 Index ETF		0.85%0.92%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XEF.TO
iShares Core MSCI EAFE IMI Index ETF		2.19%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

VFV.TO and XEF.TO have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VFV.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VFV.TO is cheaper with a 0.09% expense ratio, compared with 0.23% for XEF.TO.

VFV.TO is categorized as S&P 500, while XEF.TO is Foreign Large Cap Equities. VFV.TO tracks S&P 500 Index, while XEF.TO tracks MSCI EAFE Investable Market Index (CAD). They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.09% for VFV.TO and 0.23% for XEF.TO.

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