PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
XEF.TO vs. GSWO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XEF.TO vs. GSWO

Last updated Jun 5, 2026

XEF.TO (iShares Core MSCI EAFE IMI Index ETF) and GSWO (Goldman Sachs ActiveBeta World Equity ETF) are both exchange-traded funds - XEF.TO is a Foreign Large Cap Equities fund tracking the MSCI EAFE Investable Market Index (CAD), while GSWO is a Global Equities fund tracking the Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, XEF.TO returned 18.31%/yr vs 19.43%/yr for GSWO. A 0.70 correlation means they provide meaningful diversification when combined. XEF.TO charges 0.23%/yr vs 0.25%/yr for GSWO.

Performance

XEF.TO vs. GSWO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core MSCI EAFE IMI Index ETF (XEF.TO) and Goldman Sachs ActiveBeta World Equity ETF (GSWO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

XEF.TO is traded in CAD, while GSWO is traded in USD. To make them comparable, the GSWO 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 10.86% return, which is significantly higher than GSWO's 10.30% return.

XEF.TO

1D
0.82%
1M
2.14%
YTD
10.86%
6M
12.33%
1Y
24.11%
3Y*
18.31%
5Y*
11.07%
10Y*
9.90%

GSWO

1D
-2.49%
1M
2.07%
YTD
10.30%
6M
10.18%
1Y
20.14%
3Y*
19.43%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XEF.TO vs. GSWO - Yearly Performance Comparison

2026 (YTD)2025202420232022
XEF.TO
iShares Core MSCI EAFE IMI Index ETF		10.86%25.69%12.04%15.21%-1.92%
GSWO
Goldman Sachs ActiveBeta World Equity ETF		10.30%13.51%25.19%13.72%0.64%

Correlation

The correlation between XEF.TO and GSWO is 0.72, 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

0.72

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

0.70

Correlation (All Time)
Calculated using the full available price history since Mar 18, 2022

0.70

The correlation between XEF.TO and GSWO has been stable across timeframes, ranging from 0.70 to 0.72 - a consistent structural relationship.

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 EAFE IMI Index ETF

Goldman Sachs ActiveBeta World Equity ETF

Often compared with XEF.TO:
XEF.TO vs. XEC.TOXEF.TO vs. VIU.TOXEF.TO vs. ZEA.TOXEF.TO vs. XFH.TOXEF.TO vs. IEFAXEF.TO vs. XIC.TOXEF.TO vs. XEF-U.TO
Often compared with GSWO:
GSWO vs. GLOFGSWO vs. ACWVGSWO vs. WBIFGSWO vs. AVGEGSWO vs. SPYGSWO vs. CAPEGSWO vs. SDG

Return for Risk

XEF.TO vs. GSWO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XEF.TO
XEF.TO Risk / Return Rank: 5050
Overall Rank
XEF.TO Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
XEF.TO Sortino Ratio Rank: 5252
Sortino Ratio Rank
XEF.TO Omega Ratio Rank: 5353
Omega Ratio Rank
XEF.TO Calmar Ratio Rank: 4444
Calmar Ratio Rank
XEF.TO Martin Ratio Rank: 5151
Martin Ratio Rank
GSWO
GSWO Risk / Return Rank: 5050
Overall Rank
GSWO Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
GSWO Sortino Ratio Rank: 5151
Sortino Ratio Rank
GSWO Omega Ratio Rank: 5151
Omega Ratio Rank
GSWO Calmar Ratio Rank: 4343
Calmar Ratio Rank
GSWO Martin Ratio Rank: 5757
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.TO vs. GSWO - 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 Goldman Sachs ActiveBeta World Equity ETF (GSWO). 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.TOGSWODifference
Sharpe ratioReturn per unit of total volatility
1.73
1.89

-0.16

Sortino ratioReturn per unit of downside risk
2.48
2.68

-0.20

Omega ratioGain probability vs. loss probability

1.32

1.36

-0.04

Calmar ratioReturn relative to maximum drawdown

2.13

2.72

-0.59

Martin ratioReturn relative to average drawdown

8.48

11.65

-3.17

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.TO vs. GSWO - Sharpe Ratio Comparison

The current XEF.TO Sharpe Ratio is 1.73, which is comparable to the GSWO Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of XEF.TO and GSWO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

XEF.TOGSWODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.73

1.89

-0.16

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.82

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.67

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.71

1.36

-0.65

Drawdowns

XEF.TO vs. GSWO - Drawdown Comparison

The maximum XEF.TO drawdown since its inception was -28.51%, which is greater than GSWO's maximum drawdown of -12.43%. Use the drawdown chart below to compare losses from any high point for XEF.TO and GSWO.

Loading charts...

Drawdown Indicators

XEF.TOGSWODifference

Max Drawdown

Largest peak-to-trough decline

-28.51%

-12.43%

-16.08%

Max Drawdown (1Y)

Largest decline over 1 year

-11.27%

-7.45%

-3.82%

Max Drawdown (3Y)

Largest decline over 3 years

-14.32%

-11.05%

-3.27%

Max Drawdown (5Y)

Largest decline over 5 years

-24.58%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-28.51%

—

—

Current Drawdown

Current decline from peak

-0.27%

-2.49%

+2.22%

Average Drawdown

Average peak-to-trough decline

-4.61%

-1.94%

-2.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.82%

1.73%

+1.09%

Volatility

XEF.TO vs. GSWO - Volatility Comparison

iShares Core MSCI EAFE IMI Index ETF (XEF.TO) has a higher volatility of 4.67% compared to Goldman Sachs ActiveBeta World Equity ETF (GSWO) at 3.67%. This indicates that XEF.TO's price experiences larger fluctuations and is considered to be riskier than GSWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

XEF.TOGSWODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.67%

3.67%

+1.00%

Volatility (6M)

Calculated over the trailing 6-month period

11.59%

9.13%

+2.46%

Volatility (1Y)

Calculated over the trailing 1-year period

13.85%

10.70%

+3.15%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.58%

11.00%

+2.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.85%

11.00%

+3.85%

XEF.TO vs. GSWO - Expense Ratio Comparison

XEF.TO has a 0.23% expense ratio, which is lower than GSWO's 0.25% expense ratio. Despite the difference, 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. GSWO - Dividend Comparison

XEF.TO's dividend yield for the trailing twelve months is around 2.19%, more than GSWO's 1.65% yield.

PositionTTM20252024202320222021202020192018201720162015
GSWO
Goldman Sachs ActiveBeta World Equity ETF		1.65%1.74%1.75%2.06%1.73%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XEF.TO
iShares Core MSCI EAFE IMI Index ETF		2.19%2.43%2.76%2.75%2.93%2.42%1.93%2.72%2.76%2.10%2.42%2.42%

Frequently Asked Questions

XEF.TO and GSWO have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XEF.TO is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XEF.TO is cheaper with a 0.23% expense ratio, compared with 0.25% for GSWO.

XEF.TO is categorized as Foreign Large Cap Equities, while GSWO is Global Equities. XEF.TO tracks MSCI EAFE Investable Market Index (CAD), while GSWO tracks Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.23% for XEF.TO and 0.25% for GSWO.

Portfolio Optimizer

Find the right allocation for XEF.TO and GSWO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer