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XEI.TO vs. AVDV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XEI.TO vs. AVDV

Last updated Jun 14, 2026

XEI.TO (iShares S&P/TSX Composite High Dividend Index ETF) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - XEI.TO is a Canada Equities fund tracking the S&P/TSX Composite High Dividend Index, while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. XEI.TO is passively managed, while AVDV is actively managed. Over the past 5 years, XEI.TO returned 14.74%/yr vs 16.96%/yr for AVDV. A 0.60 correlation means they provide meaningful diversification when combined. XEI.TO charges 0.22%/yr vs 0.36%/yr for AVDV.

Performance

XEI.TO vs. AVDV - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) and Avantis International Small Cap Value ETF (AVDV). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XEI.TO is traded in CAD, while AVDV is traded in USD. To make them comparable, the AVDV values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XEI.TO achieves a 24.32% return, which is significantly higher than AVDV's 17.32% return.

XEI.TO

1D
0.58%
1M
3.92%
YTD
24.32%
6M
20.22%
1Y
38.85%
3Y*
21.39%
5Y*
14.74%
10Y*
12.09%

AVDV

1D
1.08%
1M
-0.08%
YTD
17.32%
6M
18.86%
1Y
45.84%
3Y*
28.62%
5Y*
16.96%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XEI.TO vs. AVDV - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		24.32%20.86%15.26%6.59%0.32%35.76%-7.60%3.72%
AVDV
Avantis International Small Cap Value ETF		17.32%42.55%17.87%14.07%-5.86%15.74%2.51%10.13%

Correlation

The correlation between XEI.TO and AVDV is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.39

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

0.52

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

0.58

Correlation (All Time)
Calculated using the full available price history since Sep 26, 2019

0.60

Over the past year, the correlation between XEI.TO and AVDV has dropped to 0.39 - well below their long-term average of 0.60, suggesting their price drivers have been diverging.

XEI.TO vs. AVDV - Sectors Allocation Comparison

Sectors
XEI.TO
AVDV

Energy

32.1%
9.6%

Financial Services

31.4%
13.6%

Utilities

11.2%
1.7%

Communication Services

7.6%
2.4%

Consumer Cyclical

6.2%
15.4%

Real Estate

4.8%
1.3%

Basic Materials

4.6%
21.0%

Technology

0.7%
6.6%

Industrials

0.7%
22.8%

Consumer Defensive

0.5%
3.4%

Healthcare

0.2%
2.3%

Energy

XEI.TO
32.1%
AVDV
9.6%

Financial Services

XEI.TO
31.4%
AVDV
13.6%

Utilities

XEI.TO
11.2%
AVDV
1.7%

Communication Services

XEI.TO
7.6%
AVDV
2.4%

Consumer Cyclical

XEI.TO
6.2%
AVDV
15.4%

Real Estate

XEI.TO
4.8%
AVDV
1.3%

Basic Materials

XEI.TO
4.6%
AVDV
21.0%

Technology

XEI.TO
0.7%
AVDV
6.6%

Industrials

XEI.TO
0.7%
AVDV
22.8%

Consumer Defensive

XEI.TO
0.5%
AVDV
3.4%

Healthcare

XEI.TO
0.2%
AVDV
2.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares S&P/TSX Composite High Dividend Index ETF

Avantis International Small Cap Value ETF

Often compared with XEI.TO:
XEI.TO vs. VDY.TOXEI.TO vs. XDIV.TOXEI.TO vs. XEQT.TOXEI.TO vs. VFV.TOXEI.TO vs. ZDV.TOXEI.TO vs. CDZ.TOXEI.TO vs. XDV.TO
Often compared with AVDV:
AVDV vs. VXUSAVDV vs. AVDEAVDV vs. VSSAVDV vs. DISVXAVDV vs. AVDVXAVDV vs. ISVLAVDV vs. AVIV

Return for Risk

XEI.TO vs. AVDV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XEI.TO
XEI.TO Risk / Return Rank: 9898
Overall Rank
XEI.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
XEI.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
XEI.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XEI.TO Calmar Ratio Rank: 9797
Calmar Ratio Rank
XEI.TO Martin Ratio Rank: 9797
Martin Ratio Rank
AVDV
AVDV Risk / Return Rank: 8181
Overall Rank
AVDV Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
AVDV Sortino Ratio Rank: 8686
Sortino Ratio Rank
AVDV Omega Ratio Rank: 8686
Omega Ratio Rank
AVDV Calmar Ratio Rank: 7171
Calmar Ratio Rank
AVDV Martin Ratio Rank: 7676
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.

XEI.TO vs. AVDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) and Avantis International Small Cap Value ETF (AVDV). 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.

XEI.TOAVDVDifference
Sharpe ratioReturn per unit of total volatility
5.02
2.69

+2.33

Sortino ratioReturn per unit of downside risk
6.90
3.54

+3.36

Omega ratioGain probability vs. loss probability

2.02

1.46

+0.55

Calmar ratioReturn relative to maximum drawdown

9.32

3.46

+5.86

Martin ratioReturn relative to average drawdown

41.87

14.20

+27.66

XEI.TO vs. AVDV - Sharpe Ratio Comparison

The current XEI.TO Sharpe Ratio is 5.02, which is higher than the AVDV Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of XEI.TO and AVDV, 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

XEI.TO vs. AVDV - Drawdown Comparison

The maximum XEI.TO drawdown since its inception was -45.52%, which is greater than AVDV's maximum drawdown of -37.43%. Use the drawdown chart below to compare losses from any high point for XEI.TO and AVDV.

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Drawdown Indicators

XEI.TOAVDVDifference

Max Drawdown

Largest peak-to-trough decline

-45.52%

-37.43%

-8.09%

Max Drawdown (1Y)

Largest decline over 1 year

-4.22%

-12.81%

+8.59%

Max Drawdown (3Y)

Largest decline over 3 years

-9.96%

-14.53%

+4.57%

Max Drawdown (5Y)

Largest decline over 5 years

-17.35%

-22.53%

+5.18%

Max Drawdown (10Y)

Largest decline over 10 years

-45.52%

—

—

Current Drawdown

Current decline from peak

0.00%

-1.05%

+1.05%

Average Drawdown

Average peak-to-trough decline

-5.10%

-5.01%

-0.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.94%

3.12%

-2.18%

Volatility

XEI.TO vs. AVDV - Volatility Comparison

The current volatility for iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) is 2.68%, while Avantis International Small Cap Value ETF (AVDV) has a volatility of 6.39%. This indicates that XEI.TO experiences smaller price fluctuations and is considered to be less risky than AVDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XEI.TOAVDVDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.68%

6.39%

-3.71%

Volatility (6M)

Calculated over the trailing 6-month period

6.71%

14.17%

-7.46%

Volatility (1Y)

Calculated over the trailing 1-year period

7.84%

16.48%

-8.64%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.31%

18.25%

-6.94%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.02%

20.45%

-4.43%

XEI.TO vs. AVDV - Expense Ratio Comparison

XEI.TO has a 0.22% expense ratio, which is lower than AVDV's 0.36% expense ratio.

Dividends

XEI.TO vs. AVDV - Dividend Comparison

XEI.TO's dividend yield for the trailing twelve months is around 3.53%, less than AVDV's 4.11% yield.

PositionTTM20252024202320222021202020192018201720162015
AVDV
Avantis International Small Cap Value ETF		4.11%3.05%4.31%3.29%3.17%2.39%1.67%0.36%0.00%0.00%0.00%0.00%
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		3.53%4.47%5.45%4.97%4.68%3.58%5.03%4.62%5.42%4.29%4.41%5.64%

Frequently Asked Questions

XEI.TO and AVDV have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XEI.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XEI.TO is cheaper with a 0.22% expense ratio, compared with 0.36% for AVDV.

XEI.TO is categorized as Canada Equities, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: iShares and Avantis. Their fees differ too: 0.22% for XEI.TO and 0.36% for AVDV.

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