WSHR.NEO vs. XEF-U.TO
WSHR.NEO (Wealthsimple Shariah World Equity Index ETF) and XEF-U.TO (iShares Core MSCI EAFE IMI Index ETF) are both Global Equities funds - WSHR.NEO tracks the Dow Jones Islamic Market Developed Markets Quality and Low Volatility Index while XEF-U.TO tracks the MSCI EAFE® Investable Market Index. Both are passively managed. Over the past 5 years, WSHR.NEO returned 5.89%/yr vs 11.04%/yr for XEF-U.TO. At a 0.37 correlation, their price movements are largely independent. WSHR.NEO charges 0.56%/yr vs 0.21%/yr for XEF-U.TO.
Performance
WSHR.NEO vs. XEF-U.TO - Performance Comparison
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Different Trading Currencies
WSHR.NEO is traded in CAD, while XEF-U.TO is traded in USD. To make them comparable, the XEF-U.TO values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, WSHR.NEO achieves a 8.73% return, which is significantly lower than XEF-U.TO's 12.61% return.
WSHR.NEO
- 1D
- 0.82%
- 1M
- 1.98%
- 6M
- 5.76%
- YTD
- 8.73%
- 1Y
- 10.11%
- 3Y*
- 9.70%
- 5Y*
- 5.89%
- 10Y*
- —
- ALL TIME*
- 7.83%
XEF-U.TO
- 1D
- 0.82%
- 1M
- 0.32%
- 6M
- 7.12%
- YTD
- 12.61%
- 1Y
- 21.73%
- 3Y*
- 17.94%
- 5Y*
- 11.04%
- 10Y*
- 6.67%
- ALL TIME*
- 9.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$492.20K | CA$642.90K | CA$601.04K | |
| CA$316.42K | CA$331.50K | CA$319.99K |
WSHR.NEO vs. XEF-U.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
WSHR.NEO Wealthsimple Shariah World Equity Index ETF | 8.73% | 5.34% | 12.31% | 11.88% | -11.31% | 15.91% |
XEF-U.TO iShares Core MSCI EAFE IMI Index ETF | 12.61% | 25.69% | 11.75% | 13.94% | -9.57% | 7.08% |
Correlation
The correlation between WSHR.NEO and XEF-U.TO is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since May 12, 2021 | 0.37 |
The correlation between WSHR.NEO and XEF-U.TO shifts across timeframes, from 0.37 (all time) to 0.50 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
WSHR.NEO vs. XEF-U.TO — Risk / Return Rank
WSHR.NEO
XEF-U.TO
WSHR.NEO vs. XEF-U.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Wealthsimple Shariah World Equity Index ETF (WSHR.NEO) and iShares Core MSCI EAFE IMI Index ETF (XEF-U.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.
| WSHR.NEO | XEF-U.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.25 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | 1.94 | -0.80 |
| Martin ratioReturn relative to average drawdown | 3.79 | 7.42 | -3.63 |
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Drawdowns
WSHR.NEO vs. XEF-U.TO - Drawdown Comparison
The maximum WSHR.NEO drawdown since its inception was -21.74%, smaller than the maximum XEF-U.TO drawdown of -42.21%. Use the drawdown chart below to compare losses from any high point for WSHR.NEO and XEF-U.TO.
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Drawdown Indicators
| WSHR.NEO | XEF-U.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.74% | -42.21% | +20.47% |
Max Drawdown (1Y)Largest decline over 1 year | -8.96% | -11.34% | +2.38% |
Max Drawdown (3Y)Largest decline over 3 years | -11.15% | -14.64% | +3.49% |
Max Drawdown (5Y)Largest decline over 5 years | -21.74% | -25.28% | +3.54% |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.21% | — |
Current DrawdownCurrent decline from peak | -1.26% | -2.72% | +1.46% |
Average DrawdownAverage peak-to-trough decline | -5.06% | -8.97% | +3.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 2.96% | -0.28% |
Volatility
WSHR.NEO vs. XEF-U.TO - Volatility Comparison
The current volatility for Wealthsimple Shariah World Equity Index ETF (WSHR.NEO) is 2.48%, while iShares Core MSCI EAFE IMI Index ETF (XEF-U.TO) has a volatility of 4.00%. This indicates that WSHR.NEO experiences smaller price fluctuations and is considered to be less risky than XEF-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WSHR.NEO | XEF-U.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.48% | 4.00% | -1.52% |
Volatility (6M)Calculated over the trailing 6-month period | 7.76% | 13.48% | -5.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.76% | 15.60% | -4.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.13% | 17.64% | -6.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.03% | 18.13% | -7.10% |
WSHR.NEO vs. XEF-U.TO - Expense Ratio Comparison
WSHR.NEO has a 0.56% expense ratio, which is higher than XEF-U.TO's 0.21% expense ratio.
Dividends
WSHR.NEO vs. XEF-U.TO - Dividend Comparison
WSHR.NEO's dividend yield for the trailing twelve months is around 1.39%, less than XEF-U.TO's 2.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
WSHR.NEO Wealthsimple Shariah World Equity Index ETF | 1.39% | 1.34% | 1.31% | 1.34% | 1.45% | 0.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XEF-U.TO iShares Core MSCI EAFE IMI Index ETF | 2.36% | 2.44% | 2.85% | 2.76% | 2.98% | 2.43% | 1.86% | 2.72% | 2.07% | 1.62% | 1.84% | 1.86% |
Frequently Asked Questions
WSHR.NEO and XEF-U.TO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEF-U.TO is cheaper at 0.21% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEF-U.TO is cheaper with a 0.21% expense ratio, compared with 0.56% for WSHR.NEO.
WSHR.NEO tracks Dow Jones Islamic Market Developed Markets Quality and Low Volatility Index, while XEF-U.TO tracks MSCI EAFE® Investable Market Index. They also come from different issuers: Mackenzie and iShares. Their fees differ too: 0.56% for WSHR.NEO and 0.21% for XEF-U.TO.
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