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

XEF.TO vs. IVLU

Last updated Jun 9, 2026

XEF.TO (iShares Core MSCI EAFE IMI Index ETF) and IVLU (iShares MSCI Intl Value Factor ETF) are both Foreign Large Cap Equities funds from iShares - XEF.TO tracks the MSCI EAFE Investable Market Index (CAD) while IVLU tracks the MSCI World ex USA Enhanced Value. Both are passively managed. Over the past 10 years, XEF.TO returned 10.10%/yr vs 12.11%/yr for IVLU. A 0.68 correlation means they provide meaningful diversification when combined. XEF.TO charges 0.23%/yr vs 0.30%/yr for IVLU.

Performance

XEF.TO vs. IVLU - 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 MSCI Intl Value Factor ETF (IVLU). 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 IVLU is traded in USD. To make them comparable, the IVLU 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 lower than IVLU's 13.01% return. Over the past 10 years, XEF.TO has underperformed IVLU with an annualized return of 10.10%, while IVLU has yielded a comparatively higher 12.11% 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%

IVLU

1D
0.73%
1M
2.13%
YTD
13.01%
6M
15.46%
1Y
35.33%
3Y*
25.11%
5Y*
17.00%
10Y*
12.11%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XEF.TO vs. IVLU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
IVLU
iShares MSCI Intl Value Factor ETF		13.01%39.42%15.81%17.21%0.24%15.55%-6.76%10.84%-7.97%14.76%

Correlation

The correlation between XEF.TO and IVLU is 0.83, 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

0.83

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

0.78

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

0.75

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

0.72

Correlation (All Time)
Calculated using the full available price history since Jul 16, 2015

0.68

The correlation between XEF.TO and IVLU shifts across timeframes, from 0.68 (all time) to 0.83 (1 year), reflecting how their relationship changes across market environments.

XEF.TO vs. IVLU - Sectors Allocation Comparison

Sectors
XEF.TO
IVLU

Financial Services

22.9%
25.3%

Industrials

20.5%
17.2%

Technology

10.2%
11.3%

Healthcare

9.8%
9.7%

Consumer Cyclical

8.2%
7.4%

Basic Materials

6.6%
7.5%

Consumer Defensive

6.4%
6.3%

Communication Services

4.4%
4.0%

Energy

4.0%
5.1%

Utilities

3.8%
3.3%

Real Estate

3.1%
1.5%

Financial Services

XEF.TO
22.9%
IVLU
25.3%

Industrials

XEF.TO
20.5%
IVLU
17.2%

Technology

XEF.TO
10.2%
IVLU
11.3%

Healthcare

XEF.TO
9.8%
IVLU
9.7%

Consumer Cyclical

XEF.TO
8.2%
IVLU
7.4%

Basic Materials

XEF.TO
6.6%
IVLU
7.5%

Consumer Defensive

XEF.TO
6.4%
IVLU
6.3%

Communication Services

XEF.TO
4.4%
IVLU
4.0%

Energy

XEF.TO
4.0%
IVLU
5.1%

Utilities

XEF.TO
3.8%
IVLU
3.3%

Real Estate

XEF.TO
3.1%
IVLU
1.5%

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

iShares MSCI Intl Value Factor 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 IVLU:
IVLU vs. DFIVIVLU vs. VXUSIVLU vs. FIVAIVLU vs. IDMOIVLU vs. IEFAIVLU vs. DISVIVLU vs. SFNNX

Return for Risk

XEF.TO vs. IVLU — 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: 4848
Overall Rank
XEF.TO Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
XEF.TO Sortino Ratio Rank: 5050
Sortino Ratio Rank
XEF.TO Omega Ratio Rank: 5050
Omega Ratio Rank
XEF.TO Calmar Ratio Rank: 4242
Calmar Ratio Rank
XEF.TO Martin Ratio Rank: 4949
Martin Ratio Rank
IVLU
IVLU Risk / Return Rank: 6969
Overall Rank
IVLU Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
IVLU Sortino Ratio Rank: 7272
Sortino Ratio Rank
IVLU Omega Ratio Rank: 7272
Omega Ratio Rank
IVLU Calmar Ratio Rank: 6262
Calmar Ratio Rank
IVLU Martin Ratio Rank: 6464
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. IVLU - 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 MSCI Intl Value Factor ETF (IVLU). 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.TOIVLUDifference
Sharpe ratioReturn per unit of total volatility
1.53
2.26

-0.73

Sortino ratioReturn per unit of downside risk
2.19
3.07

-0.88

Omega ratioGain probability vs. loss probability

1.28

1.39

-0.11

Calmar ratioReturn relative to maximum drawdown

1.90

3.10

-1.19

Martin ratioReturn relative to average drawdown

7.58

11.82

-4.25

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. IVLU - Sharpe Ratio Comparison

The current XEF.TO Sharpe Ratio is 1.53, which is lower than the IVLU Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of XEF.TO and IVLU, 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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Sharpe Ratios by Period

XEF.TOIVLUDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.53

2.26

-0.73

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.79

0.97

-0.19

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.68

0.65

+0.03

Sharpe Ratio (All Time)

Calculated using the full available price history

0.70

0.49

+0.21

Drawdowns

XEF.TO vs. IVLU - Drawdown Comparison

The maximum XEF.TO drawdown since its inception was -28.51%, smaller than the maximum IVLU drawdown of -34.14%. Use the drawdown chart below to compare losses from any high point for XEF.TO and IVLU.

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Drawdown Indicators

XEF.TOIVLUDifference

Max Drawdown

Largest peak-to-trough decline

-28.51%

-34.14%

+5.63%

Max Drawdown (1Y)

Largest decline over 1 year

-11.27%

-11.47%

+0.20%

Max Drawdown (3Y)

Largest decline over 3 years

-14.31%

-15.85%

+1.54%

Max Drawdown (5Y)

Largest decline over 5 years

-24.58%

-20.32%

-4.26%

Max Drawdown (10Y)

Largest decline over 10 years

-28.51%

-34.14%

+5.63%

Current Drawdown

Current decline from peak

-1.96%

-1.68%

-0.28%

Average Drawdown

Average peak-to-trough decline

-4.61%

-6.56%

+1.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.82%

3.00%

-0.18%

Volatility

XEF.TO vs. IVLU - Volatility Comparison

The current volatility for iShares Core MSCI EAFE IMI Index ETF (XEF.TO) is 4.30%, while iShares MSCI Intl Value Factor ETF (IVLU) has a volatility of 4.75%. This indicates that XEF.TO experiences smaller price fluctuations and is considered to be less risky than IVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XEF.TOIVLUDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.30%

4.75%

-0.45%

Volatility (6M)

Calculated over the trailing 6-month period

11.82%

12.88%

-1.06%

Volatility (1Y)

Calculated over the trailing 1-year period

14.06%

15.75%

-1.69%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.62%

17.59%

-3.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.87%

18.66%

-3.79%

XEF.TO vs. IVLU - Expense Ratio Comparison

XEF.TO has a 0.23% expense ratio, which is lower than IVLU's 0.30% expense ratio.

Dividends

XEF.TO vs. IVLU - Dividend Comparison

XEF.TO's dividend yield for the trailing twelve months is around 2.23%, less than IVLU's 3.34% yield.

PositionTTM20252024202320222021202020192018201720162015
IVLU
iShares MSCI Intl Value Factor ETF		3.34%3.71%4.46%4.69%3.59%3.47%2.05%3.53%2.82%2.87%2.53%0.93%
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 IVLU have a correlation of 0.83, 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 0.30% for IVLU.

XEF.TO tracks MSCI EAFE Investable Market Index (CAD), while IVLU tracks MSCI World ex USA Enhanced Value. Their fees differ too: 0.23% for XEF.TO and 0.30% for IVLU.

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