XEF.TO vs. AGG
XEF.TO (iShares Core MSCI EAFE IMI Index ETF) and AGG (iShares Core U.S. Aggregate Bond ETF) are both exchange-traded funds - XEF.TO is a Foreign Large Cap Equities fund tracking the MSCI EAFE Investable Market Index (CAD), while AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. Both are passively managed. Over the past 10 years, XEF.TO returned 10.10%/yr vs 2.45%/yr for AGG. At a 0.04 correlation, their price movements are largely independent. XEF.TO charges 0.23%/yr vs 0.03%/yr for AGG.
Performance
XEF.TO vs. AGG - Performance Comparison
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Different Trading Currencies
XEF.TO is traded in CAD, while AGG is traded in USD. To make them comparable, the AGG values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XEF.TO achieves a 8.98% return, which is significantly higher than AGG's 1.74% return. Over the past 10 years, XEF.TO has outperformed AGG with an annualized return of 10.10%, while AGG has yielded a comparatively lower 2.45% annualized return.
XEF.TO
- 1D
- 0.52%
- 1M
- 0.70%
- YTD
- 8.98%
- 6M
- 10.55%
- 1Y
- 21.35%
- 3Y*
- 17.58%
- 5Y*
- 10.64%
- 10Y*
- 10.10%
AGG
- 1D
- 0.28%
- 1M
- 1.38%
- YTD
- 1.74%
- 6M
- 1.06%
- 1Y
- 7.10%
- 3Y*
- 5.36%
- 5Y*
- 2.83%
- 10Y*
- 2.45%
XEF.TO vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XEF.TO iShares Core MSCI EAFE IMI Index ETF | 8.98% | 25.69% | 12.04% | 15.21% | -9.53% | 10.35% | 6.13% | 15.85% | -6.66% | 18.20% |
AGG iShares Core U.S. Aggregate Bond ETF | 1.74% | 2.30% | 9.89% | 3.14% | -7.51% | -1.82% | 4.93% | 3.99% | 8.51% | -3.46% |
Correlation
The correlation between XEF.TO and AGG is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2013 | 0.04 |
Over the past year, XEF.TO and AGG have become more correlated (0.27) than their long-term average of 0.04, meaning their price movements have been converging.
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Return for Risk
XEF.TO vs. AGG — Risk / Return Rank
XEF.TO
AGG
XEF.TO vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI EAFE IMI Index ETF (XEF.TO) and iShares Core U.S. Aggregate Bond ETF (AGG). 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.TO | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.20 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 1.59 | +0.31 |
| Martin ratioReturn relative to average drawdown | 7.58 | 3.54 | +4.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XEF.TO | AGG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.53 | 1.17 | +0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.79 | 0.32 | +0.46 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | 0.29 | +0.40 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | 0.32 | +0.38 |
Drawdowns
XEF.TO vs. AGG - Drawdown Comparison
The maximum XEF.TO drawdown since its inception was -28.51%, which is greater than AGG's maximum drawdown of -22.83%. Use the drawdown chart below to compare losses from any high point for XEF.TO and AGG.
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Drawdown Indicators
| XEF.TO | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.51% | -22.83% | -5.68% |
Max Drawdown (1Y)Largest decline over 1 year | -11.27% | -4.49% | -6.78% |
Max Drawdown (3Y)Largest decline over 3 years | -14.31% | -6.43% | -7.88% |
Max Drawdown (5Y)Largest decline over 5 years | -24.58% | -13.26% | -11.32% |
Max Drawdown (10Y)Largest decline over 10 years | -28.51% | -20.28% | -8.23% |
Current DrawdownCurrent decline from peak | -1.96% | -1.61% | -0.35% |
Average DrawdownAverage peak-to-trough decline | -4.61% | -7.61% | +3.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 2.01% | +0.81% |
Volatility
XEF.TO vs. AGG - Volatility Comparison
iShares Core MSCI EAFE IMI Index ETF (XEF.TO) has a higher volatility of 4.30% compared to iShares Core U.S. Aggregate Bond ETF (AGG) at 1.65%. This indicates that XEF.TO's price experiences larger fluctuations and is considered to be riskier than AGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XEF.TO | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.30% | 1.65% | +2.65% |
Volatility (6M)Calculated over the trailing 6-month period | 11.82% | 4.19% | +7.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.06% | 6.08% | +7.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.62% | 8.79% | +4.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.87% | 8.57% | +6.30% |
XEF.TO vs. AGG - Expense Ratio Comparison
XEF.TO has a 0.23% expense ratio, which is higher than AGG's 0.03% 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.TO vs. AGG - Dividend Comparison
XEF.TO's dividend yield for the trailing twelve months is around 2.23%, less than AGG's 4.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGG iShares Core U.S. Aggregate Bond ETF | 4.00% | 3.89% | 3.74% | 3.13% | 2.39% | 1.77% | 2.14% | 2.70% | 2.72% | 2.32% | 2.39% | 2.45% |
XEF.TO iShares Core MSCI EAFE IMI Index ETF | 2.23% | 2.43% | 2.76% | 2.75% | 2.93% | 2.42% | 1.93% | 2.71% | 2.75% | 2.11% | 2.45% | 2.42% |
Frequently Asked Questions
XEF.TO and AGG have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AGG is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AGG is cheaper with a 0.03% expense ratio, compared with 0.23% for XEF.TO.
XEF.TO is categorized as Foreign Large Cap Equities, while AGG is Total Bond Market. XEF.TO tracks MSCI EAFE Investable Market Index (CAD), while AGG tracks Bloomberg U.S. Aggregate Bond Index. Their fees differ too: 0.23% for XEF.TO and 0.03% for AGG.
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