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XEF-U.TO vs. DRFG.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XEF-U.TO vs. DRFG.TO

Last updated Jul 18, 2026
Documentation

XEF-U.TO (iShares Core MSCI EAFE IMI Index ETF) and DRFG.TO (Desjardins RI Global Multifactor Fossil Fuel Reserves Free ETF) are both Global Equities funds. XEF-U.TO is passively managed, while DRFG.TO is actively managed. Over the past 5 years, XEF-U.TO returned 8.63%/yr vs 11.02%/yr for DRFG.TO. At a 0.32 correlation, their price movements are largely independent.

Performance

XEF-U.TO vs. DRFG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI EAFE IMI Index ETF (XEF-U.TO) and Desjardins RI Global Multifactor Fossil Fuel Reserves Free ETF (DRFG.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, XEF-U.TO achieves a 9.32% return, which is significantly lower than DRFG.TO's 11.28% return.

XEF-U.TO

1D
-0.47%
1M
-0.45%
6M
5.26%
YTD
9.32%
1Y
20.48%
3Y*
15.15%
5Y*
8.63%
10Y*
6.21%

DRFG.TO

1D
-0.80%
1M
-1.42%
6M
9.28%
YTD
11.28%
1Y
26.09%
3Y*
20.74%
5Y*
11.02%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XEF-U.TO vs. DRFG.TO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XEF-U.TO
iShares Core MSCI EAFE IMI Index ETF		9.32%31.70%3.03%16.71%-14.95%11.35%10.30%-18.16%
DRFG.TO
Desjardins RI Global Multifactor Fossil Fuel Reserves Free ETF		11.28%30.26%16.88%15.43%-17.39%18.05%10.50%11.21%

Correlation

The correlation between XEF-U.TO and DRFG.TO is 0.56, 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

0.56

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

0.46

Correlation (5Y)
Calculated over the trailing 5-year period

0.38

Correlation (All Time)
Calculated using the full available price history since Mar 6, 2019

0.32

Over the past year, XEF-U.TO and DRFG.TO have become more correlated (0.56) than their long-term average of 0.32, meaning their price movements have been converging.

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iShares Core MSCI EAFE IMI Index ETF

Desjardins RI Global Multifactor Fossil Fuel Reserves Free ETF

Often compared with XEF-U.TO:
XEF-U.TO vs. XEF.TOXEF-U.TO vs. VEAXEF-U.TO vs. VXUSXEF-U.TO vs. IEFAXEF-U.TO vs. ZSP.TOXEF-U.TO vs. VTIXEF-U.TO vs. IEMG
Often compared with DRFG.TO:
DRFG.TO vs. DANC.TODRFG.TO vs. DCG.TODRFG.TO vs. DCS.TODRFG.TO vs. DRFD.TODRFG.TO vs. DRFE.TODRFG.TO vs. DRFU.TODRFG.TO vs. DRMC.TO

Return for Risk

XEF-U.TO vs. DRFG.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XEF-U.TO
XEF-U.TO Risk / Return Rank: 4949
Overall Rank
XEF-U.TO Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
XEF-U.TO Sortino Ratio Rank: 5050
Sortino Ratio Rank
XEF-U.TO Omega Ratio Rank: 4949
Omega Ratio Rank
XEF-U.TO Calmar Ratio Rank: 4343
Calmar Ratio Rank
XEF-U.TO Martin Ratio Rank: 5151
Martin Ratio Rank
DRFG.TO
DRFG.TO Risk / Return Rank: 8787
Overall Rank
DRFG.TO Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
DRFG.TO Sortino Ratio Rank: 8888
Sortino Ratio Rank
DRFG.TO Omega Ratio Rank: 8787
Omega Ratio Rank
DRFG.TO Calmar Ratio Rank: 8585
Calmar Ratio Rank
DRFG.TO Martin Ratio Rank: 8787
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.

XEF-U.TO vs. DRFG.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI EAFE IMI Index ETF (XEF-U.TO) and Desjardins RI Global Multifactor Fossil Fuel Reserves Free ETF (DRFG.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.

XEF-U.TODRFG.TODifference
Sharpe ratioReturn per unit of total volatility
1.37
1.91

-0.54

Sortino ratioReturn per unit of downside risk
1.99
2.69

-0.69

Omega ratioGain probability vs. loss probability

1.25

1.34

-0.09

Calmar ratioReturn relative to maximum drawdown

1.79

2.78

-0.98

Martin ratioReturn relative to average drawdown

6.83

10.96

-4.12

XEF-U.TO vs. DRFG.TO - Sharpe Ratio Comparison

The current XEF-U.TO Sharpe Ratio is 1.37, which is comparable to the DRFG.TO Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of XEF-U.TO and DRFG.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

XEF-U.TO vs. DRFG.TO - Drawdown Comparison

The maximum XEF-U.TO drawdown since its inception was -46.92%, which is greater than DRFG.TO's maximum drawdown of -33.80%. Use the drawdown chart below to compare losses from any high point for XEF-U.TO and DRFG.TO.

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Drawdown Indicators

XEF-U.TODRFG.TODifference

Max Drawdown

Largest peak-to-trough decline

-46.92%

-33.80%

-13.12%

Max Drawdown (1Y)

Largest decline over 1 year

-11.57%

-9.43%

-2.14%

Max Drawdown (3Y)

Largest decline over 3 years

-13.85%

-16.65%

+2.80%

Max Drawdown (5Y)

Largest decline over 5 years

-30.71%

-26.38%

-4.33%

Max Drawdown (10Y)

Largest decline over 10 years

-46.92%

—

—

Current Drawdown

Current decline from peak

-2.05%

-2.12%

+0.07%

Average Drawdown

Average peak-to-trough decline

-8.17%

-5.84%

-2.33%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.02%

2.39%

+0.63%

Volatility

XEF-U.TO vs. DRFG.TO - Volatility Comparison

iShares Core MSCI EAFE IMI Index ETF (XEF-U.TO) has a higher volatility of 3.69% compared to Desjardins RI Global Multifactor Fossil Fuel Reserves Free ETF (DRFG.TO) at 3.13%. This indicates that XEF-U.TO's price experiences larger fluctuations and is considered to be riskier than DRFG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XEF-U.TODRFG.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.69%

3.13%

+0.56%

Volatility (6M)

Calculated over the trailing 6-month period

13.02%

11.20%

+1.82%

Volatility (1Y)

Calculated over the trailing 1-year period

15.09%

13.69%

+1.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.21%

14.24%

+2.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.44%

15.77%

+1.67%

Dividends

XEF-U.TO vs. DRFG.TO - Dividend Comparison

XEF-U.TO's dividend yield for the trailing twelve months is around 2.37%, more than DRFG.TO's 1.57% yield.

PositionTTM20252024202320222021202020192018201720162015
DRFG.TO
Desjardins RI Global Multifactor Fossil Fuel Reserves Free ETF		1.57%2.14%1.40%1.49%1.58%1.37%1.59%1.68%0.00%0.00%0.00%0.00%
XEF-U.TO
iShares Core MSCI EAFE IMI Index ETF		2.37%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

XEF-U.TO and DRFG.TO have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: iShares and Desjardins.

Portfolio Optimizer

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