XEF.TO vs. XFR.TO
XEF.TO (iShares Core MSCI EAFE IMI Index ETF) and XFR.TO (iShares Floating Rate Index ETF) are both exchange-traded funds - XEF.TO is a Foreign Large Cap Equities fund tracking the MSCI EAFE Investable Market Index (CAD), while XFR.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD. Both are passively managed. Over the past 10 years, XEF.TO returned 9.77%/yr vs 2.24%/yr for XFR.TO. At a 0.04 correlation, their price movements are largely independent. XEF.TO charges 0.23%/yr vs 0.14%/yr for XFR.TO.
Performance
XEF.TO vs. XFR.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XEF.TO achieves a 9.95% return, which is significantly higher than XFR.TO's 1.00% return. Over the past 10 years, XEF.TO has outperformed XFR.TO with an annualized return of 9.77%, while XFR.TO has yielded a comparatively lower 2.24% annualized return.
XEF.TO
- 1D
- -0.41%
- 1M
- 5.38%
- YTD
- 9.95%
- 6M
- 10.72%
- 1Y
- 23.12%
- 3Y*
- 17.83%
- 5Y*
- 10.89%
- 10Y*
- 9.77%
XFR.TO
- 1D
- -0.05%
- 1M
- 0.21%
- YTD
- 1.00%
- 6M
- 1.33%
- 1Y
- 2.96%
- 3Y*
- 3.98%
- 5Y*
- 3.20%
- 10Y*
- 2.24%
XEF.TO vs. XFR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XEF.TO iShares Core MSCI EAFE IMI Index ETF | 9.95% | 25.69% | 12.04% | 15.21% | -9.53% | 10.36% | 6.13% | 15.86% | -6.65% | 18.19% |
XFR.TO iShares Floating Rate Index ETF | 1.00% | 3.33% | 4.57% | 5.29% | 1.82% | 0.15% | 0.98% | 2.23% | 1.16% | 1.46% |
Correlation
The correlation between XEF.TO and XFR.TO is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2013 | 0.04 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XEF.TO vs. XFR.TO — Risk / Return Rank
XEF.TO
XFR.TO
XEF.TO vs. XFR.TO - 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 Floating Rate Index ETF (XFR.TO). 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 | XFR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.44 | ||
| Sortino ratioReturn per unit of downside risk | -4.57 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.96 | -0.65 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 29.79 | -27.73 |
| Martin ratioReturn relative to average drawdown | 8.22 | 88.61 | -80.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| XEF.TO | XFR.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.68 | 4.12 | -2.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | 3.92 | -3.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 1.22 | -0.56 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 1.19 | -0.48 |
Drawdowns
XEF.TO vs. XFR.TO - Drawdown Comparison
The maximum XEF.TO drawdown since its inception was -28.51%, which is greater than XFR.TO's maximum drawdown of -4.12%. Use the drawdown chart below to compare losses from any high point for XEF.TO and XFR.TO.
Loading charts...
Drawdown Indicators
| XEF.TO | XFR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.51% | -4.12% | -24.39% |
Max Drawdown (1Y)Largest decline over 1 year | -11.27% | -0.10% | -11.17% |
Max Drawdown (3Y)Largest decline over 3 years | -14.32% | -0.30% | -14.02% |
Max Drawdown (5Y)Largest decline over 5 years | -24.58% | -0.30% | -24.28% |
Max Drawdown (10Y)Largest decline over 10 years | -28.51% | -4.12% | -24.39% |
Current DrawdownCurrent decline from peak | -1.09% | -0.05% | -1.04% |
Average DrawdownAverage peak-to-trough decline | -4.62% | -0.06% | -4.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 0.03% | +2.79% |
Volatility
XEF.TO vs. XFR.TO - Volatility Comparison
iShares Core MSCI EAFE IMI Index ETF (XEF.TO) has a higher volatility of 4.77% compared to iShares Floating Rate Index ETF (XFR.TO) at 0.18%. This indicates that XEF.TO's price experiences larger fluctuations and is considered to be riskier than XFR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XEF.TO | XFR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.77% | 0.18% | +4.59% |
Volatility (6M)Calculated over the trailing 6-month period | 11.56% | 0.48% | +11.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.85% | 0.72% | +13.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.58% | 0.82% | +12.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.85% | 1.85% | +13.00% |
XEF.TO vs. XFR.TO - Expense Ratio Comparison
XEF.TO has a 0.23% expense ratio, which is higher than XFR.TO's 0.14% 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. XFR.TO - Dividend Comparison
XEF.TO's dividend yield for the trailing twelve months is around 2.21%, less than XFR.TO's 2.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XEF.TO iShares Core MSCI EAFE IMI Index ETF | 2.21% | 2.43% | 2.76% | 2.75% | 2.93% | 2.42% | 1.93% | 2.72% | 2.76% | 2.10% | 2.42% | 2.42% |
XFR.TO iShares Floating Rate Index ETF | 2.77% | 3.23% | 4.93% | 4.91% | 1.85% | 0.30% | 1.07% | 1.96% | 1.60% | 0.95% | 0.77% | 0.94% |
Frequently Asked Questions
XEF.TO and XFR.TO have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XFR.TO is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XFR.TO is cheaper with a 0.14% expense ratio, compared with 0.23% for XEF.TO.
XEF.TO is categorized as Foreign Large Cap Equities, while XFR.TO is Canadian Government Bonds. XEF.TO tracks MSCI EAFE Investable Market Index (CAD), while XFR.TO tracks Morningstar Can 1-5Y Core Bd GR CAD. Their fees differ too: 0.23% for XEF.TO and 0.14% for XFR.TO.
Find the right allocation for XEF.TO and XFR.TO
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