PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
XEM.TO vs. VXUS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XEM.TO vs. VXUS

Last updated Aug 5, 2026
Documentation

XEM.TO (iShares MSCI Emerging Markets Index ETF) and VXUS (Vanguard Total International Stock ETF) are both exchange-traded funds - XEM.TO is a Emerging Markets Equities fund tracking the MSCI Emerging Markets CAD (Net), while VXUS is a Global Equities fund tracking the FTSE Global All Cap ex US Index. Both are passively managed. Over the past 10 years, XEM.TO returned 8.71%/yr vs 10.43%/yr for VXUS. Their 0.68 correlation means they have sometimes moved together and sometimes differently. XEM.TO charges 0.83%/yr vs 0.05%/yr for VXUS.

Performance

XEM.TO vs. VXUS - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI Emerging Markets Index ETF (XEM.TO) and Vanguard Total International Stock ETF (VXUS). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

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

Returns By Period

In the year-to-date period, XEM.TO achieves a 24.24% return, which is significantly higher than VXUS's 18.19% return. Over the past 10 years, XEM.TO has underperformed VXUS with an annualized return of 8.71%, while VXUS has yielded a comparatively higher 10.43% annualized return.

XEM.TO

1D
3.29%
1M
-3.14%
6M
15.01%
YTD
24.24%
1Y
42.18%
3Y*
21.86%
5Y*
9.41%
10Y*
8.71%
ALL TIME*
7.54%

VXUS

1D
1.92%
1M
0.67%
6M
11.19%
YTD
18.19%
1Y
31.28%
3Y*
20.83%
5Y*
11.47%
10Y*
10.43%
ALL TIME*
9.09%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

VXUS

Vanguard Total International Stock ETF
CA$531.68MCA$569.89MCA$708.62M

XEM.TO

iShares MSCI Emerging Markets Index ETF
CA$2.91MCA$2.81MCA$3.10M

XEM.TO vs. VXUS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XEM.TO
iShares MSCI Emerging Markets Index ETF		24.24%27.25%14.98%6.49%-15.74%-4.09%14.12%11.47%-8.06%27.79%
VXUS
Vanguard Total International Stock ETF		18.19%26.31%13.97%13.11%-10.76%8.93%8.04%16.73%-7.23%18.83%

Correlation

The correlation between XEM.TO and VXUS is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.77

Correlation (3Y)
Balances recent behavior with more history.

0.70

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.67

Correlation (10Y)
Provides a long-term view across more market conditions.

0.67

Correlation (All Time)
Calculated using the full available price history since Jan 28, 2011

0.68

The correlation between XEM.TO and VXUS has been stable across timeframes, ranging from 0.67 to 0.77 - a consistent structural relationship.

XEM.TO vs. VXUS - Sectors Allocation Comparison

Sectors
XEM.TO
VXUS

Technology

45.2%
23.7%

Financial Services

18.5%
23.2%

Consumer Cyclical

7.5%
6.8%

Industrials

6.3%
14.5%

Communication Services

6.0%
3.8%

Basic Materials

5.5%
6.6%

Energy

3.2%
4.2%

Consumer Defensive

2.6%
4.8%

Healthcare

2.5%
6.8%

Utilities

1.8%
2.9%

Real Estate

1.0%
1.7%

Technology

XEM.TO
45.2%
VXUS
23.7%

Financial Services

XEM.TO
18.5%
VXUS
23.2%

Consumer Cyclical

XEM.TO
7.5%
VXUS
6.8%

Industrials

XEM.TO
6.3%
VXUS
14.5%

Communication Services

XEM.TO
6.0%
VXUS
3.8%

Basic Materials

XEM.TO
5.5%
VXUS
6.6%

Energy

XEM.TO
3.2%
VXUS
4.2%

Consumer Defensive

XEM.TO
2.6%
VXUS
4.8%

Healthcare

XEM.TO
2.5%
VXUS
6.8%

Utilities

XEM.TO
1.8%
VXUS
2.9%

Real Estate

XEM.TO
1.0%
VXUS
1.7%

Compare stocks, funds, or ETFs

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

iShares MSCI Emerging Markets Index ETF

Vanguard Total International Stock ETF

Often compared with XEM.TO:
XEM.TO vs. XEC.TOXEM.TO vs. XEF.TOXEM.TO vs. XEQT.TOXEM.TO vs. ZEA.TOXEM.TO vs. VEE.TOXEM.TO vs. VOOXEM.TO vs. VXC.TO
Often compared with VXUS:
VXUS vs. VTIVXUS vs. VOOVXUS vs. VTVXUS vs. VEAVXUS vs. FZILXVXUS vs. VEUVXUS vs. SCHF

Return for Risk

XEM.TO vs. VXUS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
XEM.TO
XEM.TO Risk / Return Rank: 6868
Overall Rank
XEM.TO Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
XEM.TO Sortino Ratio Rank: 6161
Sortino Ratio Rank
XEM.TO Omega Ratio Rank: 7070
Omega Ratio Rank
XEM.TO Calmar Ratio Rank: 7272
Calmar Ratio Rank
XEM.TO Martin Ratio Rank: 6767
Martin Ratio Rank
VXUS
VXUS Risk / Return Rank: 6666
Overall Rank
VXUS Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
VXUS Sortino Ratio Rank: 6363
Sortino Ratio Rank
VXUS Omega Ratio Rank: 6666
Omega Ratio Rank
VXUS Calmar Ratio Rank: 6666
Calmar Ratio Rank
VXUS Martin Ratio Rank: 6969
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XEM.TO vs. VXUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Index ETF (XEM.TO) and Vanguard Total International Stock ETF (VXUS). 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.

XEM.TOVXUSDifference
Sharpe ratioReturn per unit of total volatility
1.76
1.81

-0.05

Sortino ratioReturn per unit of downside risk
2.31
2.49

-0.19

Omega ratioGain probability vs. loss probability

1.33

1.32

+0.01

Calmar ratioReturn relative to maximum drawdown

2.84

2.87

-0.03

Martin ratioReturn relative to average drawdown

9.23

10.31

-1.08

XEM.TO vs. VXUS - Sharpe Ratio Comparison

The current XEM.TO Sharpe Ratio is 1.76, which is comparable to the VXUS Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of XEM.TO and VXUS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

XEM.TO vs. VXUS - Drawdown Comparison

The maximum XEM.TO drawdown since its inception was -35.27%, which is greater than VXUS's maximum drawdown of -29.20%. Use the drawdown chart below to compare losses from any high point for XEM.TO and VXUS.

Loading charts...

Drawdown Indicators

XEM.TOVXUSDifference

Max Drawdown

Largest peak-to-trough decline

-35.27%

-29.20%

-6.07%

Max Drawdown (1Y)

Largest decline over 1 year

-14.90%

-10.95%

-3.95%

Max Drawdown (3Y)

Largest decline over 3 years

-15.30%

-14.25%

-1.05%

Max Drawdown (5Y)

Largest decline over 5 years

-29.79%

-23.04%

-6.75%

Max Drawdown (10Y)

Largest decline over 10 years

-35.27%

-29.20%

-6.07%

Current Drawdown

Current decline from peak

-7.74%

-1.60%

-6.14%

Average Drawdown

Average peak-to-trough decline

-10.46%

-5.21%

-5.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.58%

3.04%

+1.54%

Volatility

XEM.TO vs. VXUS - Volatility Comparison

iShares MSCI Emerging Markets Index ETF (XEM.TO) has a higher volatility of 9.34% compared to Vanguard Total International Stock ETF (VXUS) at 5.32%. This indicates that XEM.TO's price experiences larger fluctuations and is considered to be riskier than VXUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

XEM.TOVXUSDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.34%

5.32%

+4.02%

Volatility (6M)

Calculated over the trailing 6-month period

22.12%

15.24%

+6.88%

Volatility (1Y)

Calculated over the trailing 1-year period

24.14%

17.38%

+6.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.86%

17.39%

+0.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.52%

18.19%

+0.33%

XEM.TO vs. VXUS - Expense Ratio Comparison

XEM.TO has a 0.83% expense ratio, which is higher than VXUS's 0.05% expense ratio.

Dividends

XEM.TO vs. VXUS - Dividend Comparison

XEM.TO's dividend yield for the trailing twelve months is around 1.46%, less than VXUS's 2.53% yield.

PositionTTM20252024202320222021202020192018201720162015
VXUS
Vanguard Total International Stock ETF		2.53%3.18%3.37%3.24%3.09%3.10%2.14%3.06%3.18%2.73%2.93%2.83%
XEM.TO
iShares MSCI Emerging Markets Index ETF		1.46%1.90%2.08%2.39%2.10%1.91%1.28%2.56%1.95%1.78%1.97%2.24%

Frequently Asked Questions

XEM.TO and VXUS have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VXUS is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VXUS is cheaper with a 0.05% expense ratio, compared with 0.83% for XEM.TO.

XEM.TO is categorized as Emerging Markets Equities, while VXUS is Global Equities. XEM.TO tracks MSCI Emerging Markets CAD (Net), while VXUS tracks FTSE Global All Cap ex US Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.83% for XEM.TO and 0.05% for VXUS.

Portfolio Optimizer

Find the right allocation for XEM.TO and VXUS

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