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VUN.TO vs. XEC.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VUN.TO vs. XEC.TO

Last updated Jun 14, 2026

VUN.TO (Vanguard U.S. Total Market Index ETF) and XEC.TO (iShares Core MSCI Emerging Markets IMI Index ETF) are both exchange-traded funds - VUN.TO is a Large Cap Blend Equities fund tracking the CRSP US Total Market Index, while XEC.TO is a Emerging Markets Equities fund tracking the MSCI Emerging Markets IMI Index. Both are passively managed. Over the past 10 years, VUN.TO returned 15.56%/yr vs 10.85%/yr for XEC.TO. A 0.60 correlation means they provide meaningful diversification when combined. VUN.TO charges 0.17%/yr vs 0.28%/yr for XEC.TO.

Performance

VUN.TO vs. XEC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard U.S. Total Market Index ETF (VUN.TO) and iShares Core MSCI Emerging Markets IMI Index ETF (XEC.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, VUN.TO achieves a 11.51% return, which is significantly lower than XEC.TO's 25.33% return. Over the past 10 years, VUN.TO has outperformed XEC.TO with an annualized return of 15.56%, while XEC.TO has yielded a comparatively lower 10.85% annualized return.

VUN.TO

1D
0.65%
1M
1.61%
YTD
11.51%
6M
11.24%
1Y
29.65%
3Y*
22.18%
5Y*
14.98%
10Y*
15.56%

XEC.TO

1D
0.76%
1M
2.43%
YTD
25.33%
6M
27.75%
1Y
49.06%
3Y*
23.24%
5Y*
9.78%
10Y*
10.85%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VUN.TO vs. XEC.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VUN.TO
Vanguard U.S. Total Market Index ETF		11.51%11.43%33.76%23.00%-14.20%24.54%18.22%23.99%2.35%13.01%
XEC.TO
iShares Core MSCI Emerging Markets IMI Index ETF		25.33%25.78%16.14%7.92%-14.76%-1.75%15.08%11.54%-8.26%27.93%

Correlation

The correlation between VUN.TO and XEC.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 (1Y)
Calculated over the trailing 1-year period

0.70

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

0.57

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

0.54

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

0.58

Correlation (All Time)
Calculated using the full available price history since Aug 12, 2013

0.60

The correlation between VUN.TO and XEC.TO shifts across timeframes, from 0.54 (5 years) to 0.70 (1 year), reflecting how their relationship changes across market environments.

VUN.TO vs. XEC.TO - Sectors Allocation Comparison

Sectors
VUN.TO
XEC.TO

Technology

31.5%
35.0%

Financial Services

12.5%
18.4%

Healthcare

10.2%
3.7%

Consumer Cyclical

10.0%
9.6%

Industrials

9.9%
9.0%

Communication Services

9.7%
6.4%

Consumer Defensive

5.0%
3.3%

Energy

4.2%
3.9%

Utilities

2.5%
2.2%

Real Estate

2.5%
1.7%

Basic Materials

2.2%
6.9%

Technology

VUN.TO
31.5%
XEC.TO
35.0%

Financial Services

VUN.TO
12.5%
XEC.TO
18.4%

Healthcare

VUN.TO
10.2%
XEC.TO
3.7%

Consumer Cyclical

VUN.TO
10.0%
XEC.TO
9.6%

Industrials

VUN.TO
9.9%
XEC.TO
9.0%

Communication Services

VUN.TO
9.7%
XEC.TO
6.4%

Consumer Defensive

VUN.TO
5.0%
XEC.TO
3.3%

Energy

VUN.TO
4.2%
XEC.TO
3.9%

Utilities

VUN.TO
2.5%
XEC.TO
2.2%

Real Estate

VUN.TO
2.5%
XEC.TO
1.7%

Basic Materials

VUN.TO
2.2%
XEC.TO
6.9%

Compare stocks, funds, or ETFs

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

Vanguard U.S. Total Market Index ETF

iShares Core MSCI Emerging Markets IMI Index ETF

Often compared with VUN.TO:
VUN.TO vs. XUU.TOVUN.TO vs. VCN.TOVUN.TO vs. VOOVUN.TO vs. VTIVUN.TO vs. VEQT.TOVUN.TO vs. TPU.TOVUN.TO vs. SPY
Often compared with XEC.TO:
XEC.TO vs. XEF.TOXEC.TO vs. VEE.TOXEC.TO vs. XEM.TOXEC.TO vs. ZEM.TOXEC.TO vs. XEQT.TOXEC.TO vs. VFV.TOXEC.TO vs. XIC.TO

Return for Risk

VUN.TO vs. XEC.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VUN.TO
VUN.TO Risk / Return Rank: 7979
Overall Rank
VUN.TO Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
VUN.TO Sortino Ratio Rank: 8181
Sortino Ratio Rank
VUN.TO Omega Ratio Rank: 8181
Omega Ratio Rank
VUN.TO Calmar Ratio Rank: 7474
Calmar Ratio Rank
VUN.TO Martin Ratio Rank: 7575
Martin Ratio Rank
XEC.TO
XEC.TO Risk / Return Rank: 8383
Overall Rank
XEC.TO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
XEC.TO Sortino Ratio Rank: 7878
Sortino Ratio Rank
XEC.TO Omega Ratio Rank: 8585
Omega Ratio Rank
XEC.TO Calmar Ratio Rank: 8686
Calmar Ratio Rank
XEC.TO Martin Ratio Rank: 8181
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.

VUN.TO vs. XEC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard U.S. Total Market Index ETF (VUN.TO) and iShares Core MSCI Emerging Markets IMI Index ETF (XEC.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.

VUN.TOXEC.TODifference
Sharpe ratioReturn per unit of total volatility
2.28
2.34

-0.05

Sortino ratioReturn per unit of downside risk
3.09
3.00

+0.09

Omega ratioGain probability vs. loss probability

1.42

1.45

-0.03

Calmar ratioReturn relative to maximum drawdown

3.30

4.13

-0.83

Martin ratioReturn relative to average drawdown

12.24

13.90

-1.66

VUN.TO vs. XEC.TO - Sharpe Ratio Comparison

The current VUN.TO Sharpe Ratio is 2.28, which is comparable to the XEC.TO Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of VUN.TO and XEC.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

VUN.TO vs. XEC.TO - Drawdown Comparison

The maximum VUN.TO drawdown since its inception was -28.19%, smaller than the maximum XEC.TO drawdown of -32.54%. Use the drawdown chart below to compare losses from any high point for VUN.TO and XEC.TO.

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Drawdown Indicators

VUN.TOXEC.TODifference

Max Drawdown

Largest peak-to-trough decline

-28.19%

-32.54%

+4.35%

Max Drawdown (1Y)

Largest decline over 1 year

-8.51%

-11.25%

+2.74%

Max Drawdown (3Y)

Largest decline over 3 years

-19.88%

-15.07%

-4.81%

Max Drawdown (5Y)

Largest decline over 5 years

-23.67%

-29.14%

+5.47%

Max Drawdown (10Y)

Largest decline over 10 years

-28.19%

-32.54%

+4.35%

Current Drawdown

Current decline from peak

-1.32%

-2.89%

+1.57%

Average Drawdown

Average peak-to-trough decline

-3.80%

-9.57%

+5.77%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.29%

3.34%

-1.05%

Volatility

VUN.TO vs. XEC.TO - Volatility Comparison

The current volatility for Vanguard U.S. Total Market Index ETF (VUN.TO) is 4.41%, while iShares Core MSCI Emerging Markets IMI Index ETF (XEC.TO) has a volatility of 10.20%. This indicates that VUN.TO experiences smaller price fluctuations and is considered to be less risky than XEC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VUN.TOXEC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.41%

10.20%

-5.79%

Volatility (6M)

Calculated over the trailing 6-month period

9.44%

17.86%

-8.42%

Volatility (1Y)

Calculated over the trailing 1-year period

12.32%

19.90%

-7.58%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.50%

16.31%

-0.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.73%

17.77%

-1.04%

VUN.TO vs. XEC.TO - Expense Ratio Comparison

VUN.TO has a 0.17% expense ratio, which is lower than XEC.TO's 0.28% expense ratio.

Dividends

VUN.TO vs. XEC.TO - Dividend Comparison

VUN.TO's dividend yield for the trailing twelve months is around 0.75%, less than XEC.TO's 1.53% yield.

PositionTTM20252024202320222021202020192018201720162015
VUN.TO
Vanguard U.S. Total Market Index ETF		0.75%0.84%0.93%1.10%1.21%0.97%1.15%1.45%1.52%1.39%1.50%1.49%
XEC.TO
iShares Core MSCI Emerging Markets IMI Index ETF		1.53%1.92%2.03%2.15%2.19%2.78%1.64%2.87%2.66%2.13%1.80%2.19%

Frequently Asked Questions

VUN.TO and XEC.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, VUN.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VUN.TO is cheaper with a 0.17% expense ratio, compared with 0.28% for XEC.TO.

VUN.TO is categorized as Large Cap Blend Equities, while XEC.TO is Emerging Markets Equities. VUN.TO tracks CRSP US Total Market Index, while XEC.TO tracks MSCI Emerging Markets IMI Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.17% for VUN.TO and 0.28% for XEC.TO.

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