XEF-U.TO vs. IDEV

Last updated Jun 4, 2026

XEF-U.TO (iShares Core MSCI EAFE IMI Index ETF) and IDEV (iShares Core MSCI International Developed Markets ETF) are both exchange-traded funds - XEF-U.TO is a Global Equities fund tracking the MSCI EAFE® Investable Market Index, while IDEV is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Investable Market Index. Both are passively managed. Over the past 5 years, XEF-U.TO returned 7.17%/yr vs 8.48%/yr for IDEV. A 0.50 correlation means they provide meaningful diversification when combined. XEF-U.TO charges 0.21%/yr vs 0.05%/yr for IDEV.

Performance

XEF-U.TO vs. IDEV - 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 iShares Core MSCI International Developed Markets ETF (IDEV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XEF-U.TO achieves a 8.45% return, which is significantly lower than IDEV's 8.92% return.

XEF-U.TO

• 1D: -0.76%
• 1M: 3.58%
• YTD: 8.45%
• 6M: 10.90%
• 1Y: 20.77%
• 3Y*: 15.95%
• 5Y*: 7.17%
• 10Y*: —

IDEV

• 1D: -0.90%
• 1M: 3.23%
• YTD: 8.92%
• 6M: 11.57%
• 1Y: 23.20%
• 3Y*: 17.40%
• 5Y*: 8.48%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XEF-U.TO iShares Core MSCI EAFE IMI Index ETF	8.45%	31.24%	2.23%	15.90%	-15.58%	10.81%	10.61%	1.79%
IDEV iShares Core MSCI International Developed Markets ETF	8.92%	32.56%	4.54%	17.36%	-14.99%	13.00%	8.32%	4.57%

Correlation

The correlation between XEF-U.TO and IDEV is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Oct 30, 2019	0.50

Over the past year, XEF-U.TO and IDEV have become more correlated (0.90) than their long-term average of 0.50, meaning their price movements have been converging.

Return for Risk

XEF-U.TO vs. IDEV — 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: 38
XEF-U.TO Sharpe Ratio Rank: 38
XEF-U.TO Sortino Ratio Rank: 37
XEF-U.TO Omega Ratio Rank: 38
XEF-U.TO Calmar Ratio Rank: 36
XEF-U.TO Martin Ratio Rank: 42

IDEV

IDEV Risk / Return Rank: 45
IDEV Sharpe Ratio Rank: 45
IDEV Sortino Ratio Rank: 45
IDEV Omega Ratio Rank: 44
IDEV Calmar Ratio Rank: 41
IDEV Martin Ratio Rank: 48

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. IDEV - 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 iShares Core MSCI International Developed Markets ETF (IDEV). 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.

	XEF-U.TO	IDEV	Difference
Sharpe ratio: Return per unit of total volatility	1.38	1.61	-0.23
Sortino ratio: Return per unit of downside risk	1.96	2.29	-0.33
Omega ratio: Gain probability vs. loss probability	1.26	1.29	-0.03
Calmar ratio: Return relative to maximum drawdown	1.80	2.08	-0.28
Martin ratio: Return relative to average drawdown	6.90	8.16	-1.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current XEF-U.TO Sharpe Ratio is 1.38, which is comparable to the IDEV Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of XEF-U.TO and IDEV, 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

	XEF-U.TO	IDEV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	1.61	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.52	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.55	+0.13

Drawdowns

XEF-U.TO vs. IDEV - Drawdown Comparison

The maximum XEF-U.TO drawdown since its inception was -33.72%, roughly equal to the maximum IDEV drawdown of -34.77%. Use the drawdown chart below to compare losses from any high point for XEF-U.TO and IDEV.

Drawdown Indicators

	XEF-U.TO	IDEV	Difference
Max Drawdown Largest peak-to-trough decline	-33.72%	-34.77%	+1.05%
Max Drawdown (1Y) Largest decline over 1 year	-11.67%	-11.20%	-0.47%
Max Drawdown (3Y) Largest decline over 3 years	-13.48%	-13.41%	-0.07%
Max Drawdown (5Y) Largest decline over 5 years	-31.18%	-29.15%	-2.03%
Current Drawdown Current decline from peak	-1.58%	-0.98%	-0.60%
Average Drawdown Average peak-to-trough decline	-5.61%	-6.57%	+0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	2.85%	+0.18%

Volatility

XEF-U.TO vs. IDEV - Volatility Comparison

iShares Core MSCI EAFE IMI Index ETF (XEF-U.TO) has a higher volatility of 5.01% compared to iShares Core MSCI International Developed Markets ETF (IDEV) at 4.60%. This indicates that XEF-U.TO's price experiences larger fluctuations and is considered to be riskier than IDEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XEF-U.TO	IDEV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.01%	4.60%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	12.61%	12.10%	+0.51%
Volatility (1Y) Calculated over the trailing 1-year period	15.24%	14.51%	+0.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.28%	16.26%	+5.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.41%	17.27%	+7.14%

XEF-U.TO vs. IDEV - Expense Ratio Comparison

XEF-U.TO has a 0.21% expense ratio, which is higher than IDEV's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XEF-U.TO vs. IDEV - Dividend Comparison

XEF-U.TO's dividend yield for the trailing twelve months is around 1.63%, less than IDEV's 3.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
IDEV iShares Core MSCI International Developed Markets ETF	3.13%	3.40%	3.30%	3.07%	2.69%	3.05%	2.00%	3.18%	3.16%	1.54%
XEF-U.TO iShares Core MSCI EAFE IMI Index ETF	1.63%	1.77%	2.05%	2.09%	2.27%	1.94%	1.41%	0.77%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XEF-U.TO and IDEV in my portfolio?

With a correlation of 0.90, XEF-U.TO and IDEV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, XEF-U.TO or IDEV?

On fees, IDEV is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XEF-U.TO or IDEV?

IDEV is cheaper with a 0.05% expense ratio, compared with 0.21% for XEF-U.TO.

What is the main difference between XEF-U.TO and IDEV?

XEF-U.TO is categorized as Global Equities, while IDEV is Foreign Large Cap Equities. XEF-U.TO tracks MSCI EAFE® Investable Market Index, while IDEV tracks MSCI World ex USA Investable Market Index. Their fees differ too: 0.21% for XEF-U.TO and 0.05% for IDEV.