XAW.TO vs. FINN.NEO
XAW.TO (iShares Core MSCI All Country World ex Canada Index ETF) and FINN.NEO (Fidelity Global Innovators ETF) are both Global Equities funds. XAW.TO is passively managed, while FINN.NEO is actively managed. Over the past 3 years, XAW.TO returned 19.97%/yr vs 40.06%/yr for FINN.NEO. A 0.77 correlation means they provide meaningful diversification when combined. XAW.TO charges 0.22%/yr vs 1.09%/yr for FINN.NEO.
Performance
XAW.TO vs. FINN.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, XAW.TO achieves a 12.81% return, which is significantly lower than FINN.NEO's 35.77% return.
XAW.TO
- 1D
- -1.14%
- 1M
- -1.31%
- 6M
- 8.32%
- YTD
- 12.81%
- 1Y
- 23.27%
- 3Y*
- 19.97%
- 5Y*
- 12.87%
- 10Y*
- 12.82%
FINN.NEO
- 1D
- -1.71%
- 1M
- -3.34%
- 6M
- 28.06%
- YTD
- 35.77%
- 1Y
- 49.48%
- 3Y*
- 40.06%
- 5Y*
- —
- 10Y*
- —
XAW.TO vs. FINN.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XAW.TO iShares Core MSCI All Country World ex Canada Index ETF | 12.81% | 15.87% | 26.31% | 9.31% |
FINN.NEO Fidelity Global Innovators ETF | 35.77% | 20.61% | 58.65% | 21.40% |
Correlation
The correlation between XAW.TO and FINN.NEO is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since May 19, 2023 | 0.77 |
The correlation between XAW.TO and FINN.NEO has been stable across timeframes, ranging from 0.77 to 0.77 - a consistent structural relationship.
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Return for Risk
XAW.TO vs. FINN.NEO — Risk / Return Rank
XAW.TO
FINN.NEO
XAW.TO vs. FINN.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO) and Fidelity Global Innovators ETF (FINN.NEO). 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.
| XAW.TO | FINN.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.36 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | 4.16 | -1.30 |
| Martin ratioReturn relative to average drawdown | 11.20 | 12.96 | -1.76 |
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Drawdowns
XAW.TO vs. FINN.NEO - Drawdown Comparison
The maximum XAW.TO drawdown since its inception was -27.32%, which is greater than FINN.NEO's maximum drawdown of -25.66%. Use the drawdown chart below to compare losses from any high point for XAW.TO and FINN.NEO.
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Drawdown Indicators
| XAW.TO | FINN.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.32% | -25.66% | -1.66% |
Max Drawdown (1Y)Largest decline over 1 year | -8.16% | -11.94% | +3.78% |
Max Drawdown (3Y)Largest decline over 3 years | -16.66% | -25.66% | +9.00% |
Max Drawdown (5Y)Largest decline over 5 years | -21.02% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -27.32% | — | — |
Current DrawdownCurrent decline from peak | -3.24% | -6.49% | +3.25% |
Average DrawdownAverage peak-to-trough decline | -3.88% | -3.98% | +0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.08% | 3.83% | -1.75% |
Volatility
XAW.TO vs. FINN.NEO - Volatility Comparison
The current volatility for iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO) is 3.82%, while Fidelity Global Innovators ETF (FINN.NEO) has a volatility of 6.48%. This indicates that XAW.TO experiences smaller price fluctuations and is considered to be less risky than FINN.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XAW.TO | FINN.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.82% | 6.48% | -2.66% |
Volatility (6M)Calculated over the trailing 6-month period | 11.08% | 20.24% | -9.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.21% | 24.76% | -11.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.76% | 22.40% | -8.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.09% | 22.40% | -7.31% |
XAW.TO vs. FINN.NEO - Expense Ratio Comparison
XAW.TO has a 0.22% expense ratio, which is lower than FINN.NEO's 1.09% expense ratio.
Dividends
XAW.TO vs. FINN.NEO - Dividend Comparison
XAW.TO's dividend yield for the trailing twelve months is around 1.23%, while FINN.NEO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FINN.NEO Fidelity Global Innovators ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XAW.TO iShares Core MSCI All Country World ex Canada Index ETF | 1.23% | 1.33% | 1.61% | 1.71% | 1.79% | 1.77% | 1.49% | 2.02% | 2.28% | 1.94% | 1.79% | 1.81% |
Frequently Asked Questions
XAW.TO and FINN.NEO have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XAW.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XAW.TO is cheaper with a 0.22% expense ratio, compared with 1.09% for FINN.NEO.
They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.22% for XAW.TO and 1.09% for FINN.NEO.
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