XEC.TO vs. FXAIX

Last updated Jun 4, 2026

XEC.TO (iShares Core MSCI Emerging Markets IMI Index ETF) and FXAIX (Fidelity 500 Index Fund) are both funds - XEC.TO is a Emerging Markets Equities fund tracking the Morningstar EM GR CAD, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, XEC.TO returned 10.71%/yr vs 16.45%/yr for FXAIX. A 0.51 correlation means they provide meaningful diversification when combined. XEC.TO charges 0.28%/yr vs 0.02%/yr for FXAIX.

Performance

XEC.TO vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core MSCI Emerging Markets IMI Index ETF (XEC.TO) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, XEC.TO achieves a 27.92% return, which is significantly higher than FXAIX's 12.67% return. Over the past 10 years, XEC.TO has underperformed FXAIX with an annualized return of 10.71%, while FXAIX has yielded a comparatively higher 16.45% annualized return.

XEC.TO

• 1D: -0.88%
• 1M: 10.15%
• YTD: 27.92%
• 6M: 28.48%
• 1Y: 54.44%
• 3Y*: 24.69%
• 5Y*: 10.21%
• 10Y*: 10.71%

FXAIX

• 1D: 0.44%
• 1M: 7.47%
• YTD: 12.67%
• 6M: 10.86%
• 1Y: 30.12%
• 3Y*: 24.01%
• 5Y*: 17.38%
• 10Y*: 16.45%

*Multi-year figures are annualized to reflect compound growth (CAGR)

XEC.TO vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XEC.TO iShares Core MSCI Emerging Markets IMI Index ETF	27.92%	25.78%	16.14%	7.92%	-14.68%	-1.74%	15.08%	11.53%	-8.26%	27.93%
FXAIX Fidelity 500 Index Fund	12.67%	12.44%	35.75%	23.51%	-12.30%	27.54%	16.42%	25.02%	3.68%	14.06%

Correlation

The correlation between XEC.TO and FXAIX is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Apr 16, 2013	0.51

The correlation between XEC.TO and FXAIX shifts across timeframes, from 0.50 (5 years) to 0.63 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

XEC.TO vs. FXAIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XEC.TO

XEC.TO Risk / Return Rank: 86
XEC.TO Sharpe Ratio Rank: 88
XEC.TO Sortino Ratio Rank: 85
XEC.TO Omega Ratio Rank: 88
XEC.TO Calmar Ratio Rank: 86
XEC.TO Martin Ratio Rank: 83

FXAIX

FXAIX Risk / Return Rank: 73
FXAIX Sharpe Ratio Rank: 76
FXAIX Sortino Ratio Rank: 67
FXAIX Omega Ratio Rank: 67
FXAIX Calmar Ratio Rank: 74
FXAIX Martin Ratio Rank: 83

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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Emerging Markets IMI Index ETF (XEC.TO) and Fidelity 500 Index Fund (FXAIX). 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.

	XEC.TO	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	3.01	2.65	+0.35
Sortino ratio: Return per unit of downside risk	3.86	3.57	+0.29
Omega ratio: Gain probability vs. loss probability	1.56	1.50	+0.06
Calmar ratio: Return relative to maximum drawdown	4.86	3.61	+1.25
Martin ratio: Return relative to average drawdown	17.00	13.77	+3.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XEC.TO vs. FXAIX - Sharpe Ratio Comparison

The current XEC.TO Sharpe Ratio is 3.01, which is comparable to the FXAIX Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of XEC.TO and FXAIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XEC.TO	FXAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.01	2.65	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	1.16	-0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	1.01	-0.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	1.12	-0.60

Drawdowns

XEC.TO vs. FXAIX - Drawdown Comparison

The maximum XEC.TO drawdown since its inception was -32.54%, which is greater than FXAIX's maximum drawdown of -27.44%. Use the drawdown chart below to compare losses from any high point for XEC.TO and FXAIX.

Drawdown Indicators

	XEC.TO	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-32.54%	-27.44%	-5.10%
Max Drawdown (1Y) Largest decline over 1 year	-11.25%	-8.62%	-2.63%
Max Drawdown (3Y) Largest decline over 3 years	-15.07%	-19.01%	+3.94%
Max Drawdown (5Y) Largest decline over 5 years	-29.14%	-22.03%	-7.11%
Max Drawdown (10Y) Largest decline over 10 years	-32.54%	-27.44%	-5.10%
Current Drawdown Current decline from peak	-0.88%	0.00%	-0.88%
Average Drawdown Average peak-to-trough decline	-9.56%	-3.27%	-6.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	2.25%	+0.96%

Volatility

XEC.TO vs. FXAIX - Volatility Comparison

iShares Core MSCI Emerging Markets IMI Index ETF (XEC.TO) has a higher volatility of 7.80% compared to Fidelity 500 Index Fund (FXAIX) at 2.79%. This indicates that XEC.TO's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XEC.TO	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.80%	2.79%	+5.01%
Volatility (6M) Calculated over the trailing 6-month period	15.85%	8.88%	+6.97%
Volatility (1Y) Calculated over the trailing 1-year period	18.19%	11.71%	+6.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.91%	15.01%	+0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.60%	16.34%	+1.26%

XEC.TO vs. FXAIX - Expense Ratio Comparison

XEC.TO has a 0.28% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

Dividends

XEC.TO vs. FXAIX - Dividend Comparison

XEC.TO's dividend yield for the trailing twelve months is around 1.50%, more than FXAIX's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXAIX Fidelity 500 Index Fund	1.03%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%
XEC.TO iShares Core MSCI Emerging Markets IMI Index ETF	1.50%	1.92%	2.03%	2.16%	2.28%	2.78%	1.64%	2.87%	2.66%	2.13%	1.80%	2.19%

Frequently Asked Questions

Can I hold both XEC.TO and FXAIX in my portfolio?

XEC.TO and FXAIX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.