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XEF.TO vs. ITA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XEF.TO vs. ITA

Last updated Jun 16, 2026

XEF.TO (iShares Core MSCI EAFE IMI Index ETF) and ITA (iShares U.S. Aerospace & Defense ETF) are both exchange-traded funds - XEF.TO is a Foreign Large Cap Equities fund tracking the MSCI EAFE Investable Market Index (CAD), while ITA is a Aerospace & Defense fund tracking the Dow Jones U.S. Select Aerospace & Defense Index. Both are passively managed. Over the past 10 years, XEF.TO returned 10.44%/yr vs 16.45%/yr for ITA. At a 0.48 correlation, their price movements are largely independent. XEF.TO charges 0.23%/yr vs 0.38%/yr for ITA.

Performance

XEF.TO vs. ITA - 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 iShares U.S. Aerospace & Defense ETF (ITA). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XEF.TO is traded in CAD, while ITA is traded in USD. To make them comparable, the ITA 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 12.24% return, which is significantly lower than ITA's 12.90% return. Over the past 10 years, XEF.TO has underperformed ITA with an annualized return of 10.44%, while ITA has yielded a comparatively higher 16.45% annualized return.

XEF.TO

1D
0.66%
1M
5.31%
YTD
12.24%
6M
12.83%
1Y
26.52%
3Y*
18.22%
5Y*
11.04%
10Y*
10.44%

ITA

1D
1.55%
1M
11.25%
YTD
12.90%
6M
15.01%
1Y
36.10%
3Y*
30.29%
5Y*
20.65%
10Y*
16.45%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XEF.TO vs. ITA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XEF.TO
iShares Core MSCI EAFE IMI Index ETF		12.24%25.69%12.04%15.21%-9.53%10.35%6.13%15.85%-6.66%18.20%
ITA
iShares U.S. Aerospace & Defense ETF		12.90%41.86%25.62%11.61%16.93%9.34%-15.62%25.13%0.58%26.09%

Correlation

The correlation between XEF.TO and ITA is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.43

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

0.37

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

0.42

Correlation (10Y)
Calculated over the trailing 10-year period

0.46

Correlation (All Time)
Calculated using the full available price history since Apr 15, 2013

0.48

The correlation between XEF.TO and ITA shifts across timeframes, from 0.37 (3 years) to 0.48 (all time), reflecting how their relationship changes across market environments.

XEF.TO vs. ITA - Sectors Allocation Comparison

Sectors
XEF.TO
ITA

Financial Services

22.9%

-

Industrials

20.5%
99.8%

Technology

10.2%
0.1%

Healthcare

9.8%

-

Consumer Cyclical

8.2%

-

Basic Materials

6.6%

-

Consumer Defensive

6.4%

-

Communication Services

4.4%

-

Energy

4.0%

-

Utilities

3.8%

-

Real Estate

3.1%

-

Financial Services

XEF.TO
22.9%
ITA

-

Industrials

XEF.TO
20.5%
ITA
99.8%

Technology

XEF.TO
10.2%
ITA
0.1%

Healthcare

XEF.TO
9.8%
ITA

-

Consumer Cyclical

XEF.TO
8.2%
ITA

-

Basic Materials

XEF.TO
6.6%
ITA

-

Consumer Defensive

XEF.TO
6.4%
ITA

-

Communication Services

XEF.TO
4.4%
ITA

-

Energy

XEF.TO
4.0%
ITA

-

Utilities

XEF.TO
3.8%
ITA

-

Real Estate

XEF.TO
3.1%
ITA

-

Compare stocks, funds, or ETFs

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iShares Core MSCI EAFE IMI Index ETF

iShares U.S. Aerospace & Defense 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. XIC.TOXEF.TO vs. IEFAXEF.TO vs. XEF-U.TO
Often compared with ITA:
ITA vs. XARITA vs. PPAITA vs. SHLDITA vs. ARKXITA vs. VOOITA vs. FSDAXITA vs. DFEN

Return for Risk

XEF.TO vs. ITA — 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: 6060
Overall Rank
XEF.TO Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
XEF.TO Sortino Ratio Rank: 6464
Sortino Ratio Rank
XEF.TO Omega Ratio Rank: 6464
Omega Ratio Rank
XEF.TO Calmar Ratio Rank: 5252
Calmar Ratio Rank
XEF.TO Martin Ratio Rank: 5858
Martin Ratio Rank
ITA
ITA Risk / Return Rank: 4545
Overall Rank
ITA Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
ITA Sortino Ratio Rank: 4949
Sortino Ratio Rank
ITA Omega Ratio Rank: 4444
Omega Ratio Rank
ITA Calmar Ratio Rank: 4646
Calmar Ratio Rank
ITA Martin Ratio Rank: 3838
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. ITA - 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 U.S. Aerospace & Defense ETF (ITA). 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.TOITADifference
Sharpe ratioReturn per unit of total volatility
1.85
1.62

+0.23

Sortino ratioReturn per unit of downside risk
2.65
2.34

+0.31

Omega ratioGain probability vs. loss probability

1.34

1.28

+0.07

Calmar ratioReturn relative to maximum drawdown

2.36

2.43

-0.07

Martin ratioReturn relative to average drawdown

9.41

6.14

+3.27

XEF.TO vs. ITA - Sharpe Ratio Comparison

The current XEF.TO Sharpe Ratio is 1.85, which is comparable to the ITA Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of XEF.TO and ITA, 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.TO vs. ITA - Drawdown Comparison

The maximum XEF.TO drawdown since its inception was -28.51%, smaller than the maximum ITA drawdown of -47.26%. Use the drawdown chart below to compare losses from any high point for XEF.TO and ITA.

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Drawdown Indicators

XEF.TOITADifference

Max Drawdown

Largest peak-to-trough decline

-28.51%

-47.26%

+18.75%

Max Drawdown (1Y)

Largest decline over 1 year

-11.27%

-14.91%

+3.64%

Max Drawdown (3Y)

Largest decline over 3 years

-14.31%

-17.29%

+2.98%

Max Drawdown (5Y)

Largest decline over 5 years

-24.58%

-17.29%

-7.29%

Max Drawdown (10Y)

Largest decline over 10 years

-28.51%

-46.69%

+18.18%

Current Drawdown

Current decline from peak

0.00%

-3.08%

+3.08%

Average Drawdown

Average peak-to-trough decline

-4.60%

-8.88%

+4.28%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.83%

5.89%

-3.06%

Volatility

XEF.TO vs. ITA - Volatility Comparison

The current volatility for iShares Core MSCI EAFE IMI Index ETF (XEF.TO) is 5.30%, while iShares U.S. Aerospace & Defense ETF (ITA) has a volatility of 9.26%. This indicates that XEF.TO experiences smaller price fluctuations and is considered to be less risky than ITA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XEF.TOITADifference

Volatility (1M)

Calculated over the trailing 1-month period

5.30%

9.26%

-3.96%

Volatility (6M)

Calculated over the trailing 6-month period

12.24%

19.10%

-6.86%

Volatility (1Y)

Calculated over the trailing 1-year period

14.39%

22.39%

-8.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.70%

21.34%

-7.64%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.87%

24.04%

-9.17%

XEF.TO vs. ITA - Expense Ratio Comparison

XEF.TO has a 0.23% expense ratio, which is lower than ITA's 0.38% expense ratio.

Dividends

XEF.TO vs. ITA - Dividend Comparison

XEF.TO's dividend yield for the trailing twelve months is around 2.17%, more than ITA's 0.52% yield.

PositionTTM20252024202320222021202020192018201720162015
ITA
iShares U.S. Aerospace & Defense ETF		0.52%0.55%0.85%0.93%0.95%0.82%1.07%1.54%1.13%0.91%1.07%1.04%
XEF.TO
iShares Core MSCI EAFE IMI Index ETF		2.17%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 ITA have a correlation of 0.43, 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 0.38% for ITA.

XEF.TO is categorized as Foreign Large Cap Equities, while ITA is Aerospace & Defense. XEF.TO tracks MSCI EAFE Investable Market Index (CAD), while ITA tracks Dow Jones U.S. Select Aerospace & Defense Index. Their fees differ too: 0.23% for XEF.TO and 0.38% for ITA.

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