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

XEU.TO vs. AVDV

Last updated Jun 13, 2026

XEU.TO (iShares MSCI Europe IMI Index ETF) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - XEU.TO is a Europe Equities fund tracking the Morningstar Eur GR CAD, while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. XEU.TO is passively managed, while AVDV is actively managed. Over the past 5 years, XEU.TO returned 11.14%/yr vs 16.98%/yr for AVDV. A 0.64 correlation means they provide meaningful diversification when combined. XEU.TO charges 0.28%/yr vs 0.36%/yr for AVDV.

Performance

XEU.TO vs. AVDV - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI Europe IMI Index ETF (XEU.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

XEU.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, XEU.TO achieves a 9.50% return, which is significantly lower than AVDV's 17.38% return.

XEU.TO

1D
0.56%
1M
4.42%
YTD
9.50%
6M
11.49%
1Y
20.26%
3Y*
18.05%
5Y*
11.14%
10Y*
10.87%

AVDV

1D
1.12%
1M
0.07%
YTD
17.38%
6M
18.91%
1Y
44.16%
3Y*
28.64%
5Y*
16.98%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XEU.TO vs. AVDV - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XEU.TO
iShares MSCI Europe IMI Index ETF		9.50%29.40%9.34%17.38%-10.49%16.36%3.16%8.11%
AVDV
Avantis International Small Cap Value ETF		17.44%42.55%17.87%14.07%-5.86%15.74%2.51%10.13%

Correlation

The correlation between XEU.TO and AVDV is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.67

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

0.62

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

0.63

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

0.64

The correlation between XEU.TO and AVDV has been stable across timeframes, ranging from 0.62 to 0.67 - a consistent structural relationship.

XEU.TO vs. AVDV - Sectors Allocation Comparison

Sectors
XEU.TO
AVDV

Financial Services

22.5%
13.7%

Industrials

15.6%
21.3%

Healthcare

10.5%
2.1%

Technology

8.4%
6.4%

Consumer Defensive

8.0%
3.4%

Consumer Cyclical

6.5%
14.4%

Basic Materials

5.3%
22.5%

Energy

4.0%
10.8%

Utilities

3.5%
1.7%

Communication Services

3.3%
2.0%

Real Estate

1.4%
1.1%

Financial Services

XEU.TO
22.5%
AVDV
13.7%

Industrials

XEU.TO
15.6%
AVDV
21.3%

Healthcare

XEU.TO
10.5%
AVDV
2.1%

Technology

XEU.TO
8.4%
AVDV
6.4%

Consumer Defensive

XEU.TO
8.0%
AVDV
3.4%

Consumer Cyclical

XEU.TO
6.5%
AVDV
14.4%

Basic Materials

XEU.TO
5.3%
AVDV
22.5%

Energy

XEU.TO
4.0%
AVDV
10.8%

Utilities

XEU.TO
3.5%
AVDV
1.7%

Communication Services

XEU.TO
3.3%
AVDV
2.0%

Real Estate

XEU.TO
1.4%
AVDV
1.1%

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 Europe IMI Index ETF

Avantis International Small Cap Value ETF

Often compared with XEU.TO:
XEU.TO vs. XEH.TOXEU.TO vs. XEF.TOXEU.TO vs. VE.TOXEU.TO vs. VEAXEU.TO vs. HXS.TOXEU.TO vs. XUS.TOXEU.TO vs. XDIV.TO
Often compared with AVDV:
AVDV vs. VXUSAVDV vs. AVDEAVDV vs. VSSAVDV vs. DISVXAVDV vs. AVDVXAVDV vs. ISVLAVDV vs. AVIV

Return for Risk

XEU.TO vs. AVDV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XEU.TO
XEU.TO Risk / Return Rank: 4444
Overall Rank
XEU.TO Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
XEU.TO Sortino Ratio Rank: 4545
Sortino Ratio Rank
XEU.TO Omega Ratio Rank: 4444
Omega Ratio Rank
XEU.TO Calmar Ratio Rank: 3939
Calmar Ratio Rank
XEU.TO Martin Ratio Rank: 4545
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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe IMI Index ETF (XEU.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.

XEU.TOAVDVDifference
Sharpe ratioReturn per unit of total volatility
1.38
2.69

-1.31

Sortino ratioReturn per unit of downside risk
2.00
3.54

-1.54

Omega ratioGain probability vs. loss probability

1.25

1.47

-0.22

Calmar ratioReturn relative to maximum drawdown

1.70

3.46

-1.76

Martin ratioReturn relative to average drawdown

6.57

14.22

-7.65

XEU.TO vs. AVDV - Sharpe Ratio Comparison

The current XEU.TO Sharpe Ratio is 1.38, which is lower than the AVDV Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of XEU.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

XEU.TO vs. AVDV - Drawdown Comparison

The maximum XEU.TO drawdown since its inception was -32.02%, smaller than the maximum AVDV drawdown of -37.43%. Use the drawdown chart below to compare losses from any high point for XEU.TO and AVDV.

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Drawdown Indicators

XEU.TOAVDVDifference

Max Drawdown

Largest peak-to-trough decline

-32.02%

-37.43%

+5.41%

Max Drawdown (1Y)

Largest decline over 1 year

-11.94%

-12.81%

+0.87%

Max Drawdown (3Y)

Largest decline over 3 years

-14.62%

-14.53%

-0.09%

Max Drawdown (5Y)

Largest decline over 5 years

-26.96%

-22.53%

-4.43%

Max Drawdown (10Y)

Largest decline over 10 years

-32.02%

—

—

Current Drawdown

Current decline from peak

0.00%

-1.00%

+1.00%

Average Drawdown

Average peak-to-trough decline

-5.45%

-5.01%

-0.44%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.10%

3.12%

-0.02%

Volatility

XEU.TO vs. AVDV - Volatility Comparison

The current volatility for iShares MSCI Europe IMI Index ETF (XEU.TO) is 5.29%, while Avantis International Small Cap Value ETF (AVDV) has a volatility of 6.40%. This indicates that XEU.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

XEU.TOAVDVDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.29%

6.40%

-1.11%

Volatility (6M)

Calculated over the trailing 6-month period

12.40%

14.18%

-1.78%

Volatility (1Y)

Calculated over the trailing 1-year period

14.72%

16.48%

-1.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.80%

18.25%

-3.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.09%

20.45%

-4.36%

XEU.TO vs. AVDV - Expense Ratio Comparison

XEU.TO has a 0.28% expense ratio, which is lower than AVDV's 0.36% expense ratio.

Dividends

XEU.TO vs. AVDV - Dividend Comparison

XEU.TO's dividend yield for the trailing twelve months is around 2.25%, 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%
XEU.TO
iShares MSCI Europe IMI Index ETF		2.25%2.47%2.68%2.96%3.02%2.42%1.98%3.56%3.28%2.26%2.91%2.33%

Frequently Asked Questions

XEU.TO and AVDV have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XEU.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XEU.TO is cheaper with a 0.28% expense ratio, compared with 0.36% for AVDV.

XEU.TO is categorized as Europe Equities, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: iShares and Avantis. Their fees differ too: 0.28% for XEU.TO and 0.36% for AVDV.

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