XEI.TO vs. RAAX
XEI.TO (iShares S&P/TSX Composite High Dividend Index ETF) and RAAX (VanEck Inflation Allocation ETF) are both exchange-traded funds - XEI.TO is a Canada Equities fund tracking the S&P/TSX Composite High Dividend Index, while RAAX is a Diversified Portfolio fund actively managed by VanEck. XEI.TO is passively managed, while RAAX is actively managed. Over the past 5 years, XEI.TO returned 14.74%/yr vs 16.49%/yr for RAAX. At a 0.50 correlation, their price movements are largely independent. XEI.TO charges 0.22%/yr vs 0.78%/yr for RAAX.
Performance
XEI.TO vs. RAAX - Performance Comparison
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Different Trading Currencies
XEI.TO is traded in CAD, while RAAX is traded in USD. To make them comparable, the RAAX 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 RAAX's 20.02% 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%
RAAX
- 1D
- 2.45%
- 1M
- -0.06%
- YTD
- 20.02%
- 6M
- 19.24%
- 1Y
- 35.74%
- 3Y*
- 23.17%
- 5Y*
- 16.49%
- 10Y*
- —
XEI.TO vs. RAAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | 25.30% | -4.62% |
RAAX VanEck Inflation Allocation ETF | 20.02% | 20.96% | 22.02% | 4.18% | 7.95% | 21.50% | -10.44% | 1.77% | 4.66% |
Correlation
The correlation between XEI.TO and RAAX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2018 | 0.50 |
The correlation between XEI.TO and RAAX shifts across timeframes, from 0.45 (1 year) to 0.58 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XEI.TO vs. RAAX — Risk / Return Rank
XEI.TO
RAAX
XEI.TO vs. RAAX - 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 VanEck Inflation Allocation ETF (RAAX). 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.TO | RAAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.49 | ||
| Sortino ratioReturn per unit of downside risk | +3.56 | ||
| Omega ratioGain probability vs. loss probability | 2.02 | 1.46 | +0.56 |
| Calmar ratioReturn relative to maximum drawdown | 9.32 | 5.76 | +3.56 |
| Martin ratioReturn relative to average drawdown | 41.87 | 21.64 | +20.23 |
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Drawdowns
XEI.TO vs. RAAX - Drawdown Comparison
The maximum XEI.TO drawdown since its inception was -45.52%, which is greater than RAAX's maximum drawdown of -29.03%. Use the drawdown chart below to compare losses from any high point for XEI.TO and RAAX.
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Drawdown Indicators
| XEI.TO | RAAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.52% | -29.03% | -16.49% |
Max Drawdown (1Y)Largest decline over 1 year | -4.22% | -6.34% | +2.12% |
Max Drawdown (3Y)Largest decline over 3 years | -9.96% | -11.92% | +1.96% |
Max Drawdown (5Y)Largest decline over 5 years | -17.35% | -17.70% | +0.35% |
Max Drawdown (10Y)Largest decline over 10 years | -45.52% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.74% | +1.74% |
Average DrawdownAverage peak-to-trough decline | -5.10% | -5.19% | +0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 1.69% | -0.75% |
Volatility
XEI.TO vs. RAAX - Volatility Comparison
The current volatility for iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) is 2.68%, while VanEck Inflation Allocation ETF (RAAX) has a volatility of 4.84%. This indicates that XEI.TO experiences smaller price fluctuations and is considered to be less risky than RAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XEI.TO | RAAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.68% | 4.84% | -2.16% |
Volatility (6M)Calculated over the trailing 6-month period | 6.71% | 12.44% | -5.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.84% | 14.43% | -6.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.31% | 16.55% | -5.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.02% | 16.76% | -0.74% |
XEI.TO vs. RAAX - Expense Ratio Comparison
XEI.TO has a 0.22% expense ratio, which is lower than RAAX's 0.78% expense ratio.
Dividends
XEI.TO vs. RAAX - Dividend Comparison
XEI.TO's dividend yield for the trailing twelve months is around 3.53%, more than RAAX's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RAAX VanEck Inflation Allocation ETF | 1.99% | 2.34% | 1.91% | 3.66% | 1.53% | 8.72% | 6.27% | 2.37% | 0.56% | 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 RAAX have a correlation of 0.45, 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 0.78% for RAAX.
XEI.TO is categorized as Canada Equities, while RAAX is Diversified Portfolio. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.22% for XEI.TO and 0.78% for RAAX.
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