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

XEC.TO vs. VUN.TO

Last updated Jun 14, 2026

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

Performance

XEC.TO vs. VUN.TO - 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 Vanguard U.S. Total Market Index ETF (VUN.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, XEC.TO achieves a 25.33% return, which is significantly higher than VUN.TO's 11.51% return. Over the past 10 years, XEC.TO has underperformed VUN.TO with an annualized return of 10.85%, while VUN.TO has yielded a comparatively higher 15.56% annualized return.

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%

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

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

2026 (YTD)202520242023202220212020201920182017
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%
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%

Correlation

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

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

Sectors
XEC.TO
VUN.TO

Technology

35.0%
31.5%

Financial Services

18.4%
12.5%

Consumer Cyclical

9.6%
10.0%

Industrials

9.0%
9.9%

Basic Materials

6.9%
2.2%

Communication Services

6.4%
9.7%

Energy

3.9%
4.2%

Healthcare

3.7%
10.2%

Consumer Defensive

3.3%
5.0%

Utilities

2.2%
2.5%

Real Estate

1.7%
2.5%

Technology

XEC.TO
35.0%
VUN.TO
31.5%

Financial Services

XEC.TO
18.4%
VUN.TO
12.5%

Consumer Cyclical

XEC.TO
9.6%
VUN.TO
10.0%

Industrials

XEC.TO
9.0%
VUN.TO
9.9%

Basic Materials

XEC.TO
6.9%
VUN.TO
2.2%

Communication Services

XEC.TO
6.4%
VUN.TO
9.7%

Energy

XEC.TO
3.9%
VUN.TO
4.2%

Healthcare

XEC.TO
3.7%
VUN.TO
10.2%

Consumer Defensive

XEC.TO
3.3%
VUN.TO
5.0%

Utilities

XEC.TO
2.2%
VUN.TO
2.5%

Real Estate

XEC.TO
1.7%
VUN.TO
2.5%

Compare stocks, funds, or ETFs

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

iShares Core MSCI Emerging Markets IMI Index ETF

Vanguard U.S. Total Market Index ETF

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
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

Return for Risk

XEC.TO vs. VUN.TO — 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: 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
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
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. VUN.TO - 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 Vanguard U.S. Total Market Index ETF (VUN.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.

XEC.TOVUN.TODifference
Sharpe ratioReturn per unit of total volatility
2.34
2.28

+0.05

Sortino ratioReturn per unit of downside risk
3.00
3.09

-0.09

Omega ratioGain probability vs. loss probability

1.45

1.42

+0.03

Calmar ratioReturn relative to maximum drawdown

4.13

3.30

+0.83

Martin ratioReturn relative to average drawdown

13.90

12.24

+1.66

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

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

XEC.TO vs. VUN.TO - Drawdown Comparison

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

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Drawdown Indicators

XEC.TOVUN.TODifference

Max Drawdown

Largest peak-to-trough decline

-32.54%

-28.19%

-4.35%

Max Drawdown (1Y)

Largest decline over 1 year

-11.25%

-8.51%

-2.74%

Max Drawdown (3Y)

Largest decline over 3 years

-15.07%

-19.88%

+4.81%

Max Drawdown (5Y)

Largest decline over 5 years

-29.14%

-23.67%

-5.47%

Max Drawdown (10Y)

Largest decline over 10 years

-32.54%

-28.19%

-4.35%

Current Drawdown

Current decline from peak

-2.89%

-1.32%

-1.57%

Average Drawdown

Average peak-to-trough decline

-9.57%

-3.80%

-5.77%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.34%

2.29%

+1.05%

Volatility

XEC.TO vs. VUN.TO - Volatility Comparison

iShares Core MSCI Emerging Markets IMI Index ETF (XEC.TO) has a higher volatility of 10.20% compared to Vanguard U.S. Total Market Index ETF (VUN.TO) at 4.41%. This indicates that XEC.TO's price experiences larger fluctuations and is considered to be riskier than VUN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XEC.TOVUN.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

10.20%

4.41%

+5.79%

Volatility (6M)

Calculated over the trailing 6-month period

17.86%

9.44%

+8.42%

Volatility (1Y)

Calculated over the trailing 1-year period

19.90%

12.32%

+7.58%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.31%

15.50%

+0.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.77%

16.73%

+1.04%

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

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

Dividends

XEC.TO vs. VUN.TO - Dividend Comparison

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

XEC.TO and VUN.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.

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

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