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VXM.TO vs. DFIV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VXM.TO vs. DFIV

Last updated Jun 4, 2026

VXM.TO (CI Morningstar International Value CAD Hedged) and DFIV (Dimensional International Value ETF) are both exchange-traded funds - VXM.TO is a International Equity fund tracking the Morningstar® Developed Markets ex-North America Target Value Index, while DFIV is a Foreign Large Cap Equities fund actively managed by Dimensional. VXM.TO is passively managed, while DFIV is actively managed. Over the past 3 years, VXM.TO returned 29.48%/yr vs 25.34%/yr for DFIV. At a 0.43 correlation, their price movements are largely independent. VXM.TO charges 0.66%/yr vs 0.27%/yr for DFIV.

Performance

VXM.TO vs. DFIV - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Morningstar International Value CAD Hedged (VXM.TO) and Dimensional International Value ETF (DFIV). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

VXM.TO is traded in CAD, while DFIV is traded in USD. To make them comparable, the DFIV values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VXM.TO achieves a 10.12% return, which is significantly lower than DFIV's 12.96% return.

VXM.TO

1D
-0.19%
1M
3.10%
YTD
10.12%
6M
14.12%
1Y
36.80%
3Y*
29.48%
5Y*
19.56%
10Y*
13.33%

DFIV

1D
-0.29%
1M
4.61%
YTD
12.96%
6M
14.97%
1Y
36.62%
3Y*
25.34%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VXM.TO vs. DFIV - Yearly Performance Comparison

2026 (YTD)20252024202320222021
VXM.TO
CI Morningstar International Value CAD Hedged		10.12%44.77%19.29%24.09%3.19%-0.65%
DFIV
Dimensional International Value ETF		12.96%38.69%16.47%15.15%3.17%0.06%

Correlation

The correlation between VXM.TO and DFIV is 0.69, 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

0.69

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

0.50

Correlation (All Time)
Calculated using the full available price history since Sep 14, 2021

0.43

Over the past year, VXM.TO and DFIV have become more correlated (0.69) than their long-term average of 0.43, meaning their price movements have been converging.

VXM.TO vs. DFIV - Sectors Allocation Comparison

Sectors
VXM.TO
DFIV

Industrials

25.0%
9.6%

Consumer Cyclical

16.8%
9.6%

Financial Services

16.0%
32.4%

Utilities

10.5%
2.5%

Energy

7.8%
16.4%

Basic Materials

7.1%
10.9%

Consumer Defensive

6.5%
4.9%

Technology

3.8%
2.8%

Communication Services

3.5%
4.2%

Healthcare

2.0%
4.9%

Real Estate

1.0%
1.8%

Industrials

VXM.TO
25.0%
DFIV
9.6%

Consumer Cyclical

VXM.TO
16.8%
DFIV
9.6%

Financial Services

VXM.TO
16.0%
DFIV
32.4%

Utilities

VXM.TO
10.5%
DFIV
2.5%

Energy

VXM.TO
7.8%
DFIV
16.4%

Basic Materials

VXM.TO
7.1%
DFIV
10.9%

Consumer Defensive

VXM.TO
6.5%
DFIV
4.9%

Technology

VXM.TO
3.8%
DFIV
2.8%

Communication Services

VXM.TO
3.5%
DFIV
4.2%

Healthcare

VXM.TO
2.0%
DFIV
4.9%

Real Estate

VXM.TO
1.0%
DFIV
1.8%

Compare stocks, funds, or ETFs

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

CI Morningstar International Value CAD Hedged

Dimensional International Value ETF

Often compared with VXM.TO:
VXM.TO vs. FCIM.NEOVXM.TO vs. VMO.TOVXM.TO vs. VIDY.TOVXM.TO vs. VIU.TOVXM.TO vs. VVL.TOVXM.TO vs. XHC.TOVXM.TO vs. ZXM.TO
Often compared with DFIV:
DFIV vs. FNDFDFIV vs. AVIVDFIV vs. VYMIDFIV vs. IVLUDFIV vs. DFVIXDFIV vs. IWVL.LDFIV vs. AVDE

Return for Risk

VXM.TO vs. DFIV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VXM.TO
VXM.TO Risk / Return Rank: 8282
Overall Rank
VXM.TO Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
VXM.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
VXM.TO Omega Ratio Rank: 8787
Omega Ratio Rank
VXM.TO Calmar Ratio Rank: 7777
Calmar Ratio Rank
VXM.TO Martin Ratio Rank: 7575
Martin Ratio Rank
DFIV
DFIV Risk / Return Rank: 7575
Overall Rank
DFIV Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
DFIV Sortino Ratio Rank: 7676
Sortino Ratio Rank
DFIV Omega Ratio Rank: 7575
Omega Ratio Rank
DFIV Calmar Ratio Rank: 7171
Calmar Ratio Rank
DFIV Martin Ratio Rank: 7373
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.

VXM.TO vs. DFIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Morningstar International Value CAD Hedged (VXM.TO) and Dimensional International Value ETF (DFIV). 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.

VXM.TODFIVDifference
Sharpe ratioReturn per unit of total volatility
2.85
2.91

-0.06

Sortino ratioReturn per unit of downside risk
3.83
3.91

-0.08

Omega ratioGain probability vs. loss probability

1.54

1.53

+0.01

Calmar ratioReturn relative to maximum drawdown

3.93

3.93

0.00

Martin ratioReturn relative to average drawdown

14.50

16.08

-1.58

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

VXM.TO vs. DFIV - Sharpe Ratio Comparison

The current VXM.TO Sharpe Ratio is 2.85, which is comparable to the DFIV Sharpe Ratio of 2.91. The chart below compares the historical Sharpe Ratios of VXM.TO and DFIV, 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

VXM.TODFIVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.85

2.91

-0.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.33

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.79

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.64

1.32

-0.68

Drawdowns

VXM.TO vs. DFIV - Drawdown Comparison

The maximum VXM.TO drawdown since its inception was -42.73%, which is greater than DFIV's maximum drawdown of -19.20%. Use the drawdown chart below to compare losses from any high point for VXM.TO and DFIV.

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Drawdown Indicators

VXM.TODFIVDifference

Max Drawdown

Largest peak-to-trough decline

-42.73%

-19.20%

-23.53%

Max Drawdown (1Y)

Largest decline over 1 year

-9.40%

-9.36%

-0.04%

Max Drawdown (3Y)

Largest decline over 3 years

-13.71%

-15.09%

+1.38%

Max Drawdown (5Y)

Largest decline over 5 years

-14.47%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-42.73%

—

—

Current Drawdown

Current decline from peak

-3.49%

-0.29%

-3.20%

Average Drawdown

Average peak-to-trough decline

-7.51%

-3.26%

-4.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.54%

2.28%

+0.26%

Volatility

VXM.TO vs. DFIV - Volatility Comparison

CI Morningstar International Value CAD Hedged (VXM.TO) has a higher volatility of 5.92% compared to Dimensional International Value ETF (DFIV) at 3.71%. This indicates that VXM.TO's price experiences larger fluctuations and is considered to be riskier than DFIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VXM.TODFIVDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.92%

3.71%

+2.21%

Volatility (6M)

Calculated over the trailing 6-month period

11.01%

10.28%

+0.73%

Volatility (1Y)

Calculated over the trailing 1-year period

12.99%

12.66%

+0.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.82%

13.55%

+1.27%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.97%

13.55%

+3.42%

VXM.TO vs. DFIV - Expense Ratio Comparison

VXM.TO has a 0.66% expense ratio, which is higher than DFIV's 0.27% expense ratio.

Dividends

VXM.TO vs. DFIV - Dividend Comparison

VXM.TO's dividend yield for the trailing twelve months is around 2.14%, less than DFIV's 2.55% yield.

PositionTTM20252024202320222021202020192018201720162015
DFIV
Dimensional International Value ETF		2.55%2.92%3.88%3.93%3.84%2.30%0.00%0.00%0.00%0.00%0.00%0.00%
VXM.TO
CI Morningstar International Value CAD Hedged		2.14%2.03%3.60%3.37%3.54%2.08%2.27%1.56%2.07%1.51%1.85%2.14%

Frequently Asked Questions

VXM.TO and DFIV have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, DFIV is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.

DFIV is cheaper with a 0.27% expense ratio, compared with 0.66% for VXM.TO.

VXM.TO is categorized as International Equity, while DFIV is Foreign Large Cap Equities. They also come from different issuers: CI Investments and Dimensional. Their fees differ too: 0.66% for VXM.TO and 0.27% for DFIV.

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