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

XEU.TO vs. IVLU

Last updated Jul 17, 2026
Documentation

XEU.TO (iShares MSCI Europe IMI Index ETF) and IVLU (iShares MSCI International Value Factor ETF) are both exchange-traded funds - XEU.TO is a Europe Equities fund tracking the MSCI Europe Investable Market Index (IMI) Net Return in CAD, while IVLU is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Enhanced Value Index. Both are passively managed. Over the past 10 years, XEU.TO returned 10.49%/yr vs 12.02%/yr for IVLU. A 0.59 correlation means they provide meaningful diversification when combined. XEU.TO charges 0.28%/yr vs 0.30%/yr for IVLU.

Performance

XEU.TO vs. IVLU - 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 iShares MSCI International Value Factor ETF (IVLU). 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 IVLU is traded in USD. To make them comparable, the IVLU 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 10.43% return, which is significantly lower than IVLU's 15.98% return. Over the past 10 years, XEU.TO has underperformed IVLU with an annualized return of 10.49%, while IVLU has yielded a comparatively higher 12.02% annualized return.

XEU.TO

1D
-0.34%
1M
0.35%
6M
6.32%
YTD
10.43%
1Y
21.26%
3Y*
17.53%
5Y*
11.25%
10Y*
10.49%

IVLU

1D
-0.85%
1M
-0.25%
6M
10.27%
YTD
15.98%
1Y
37.33%
3Y*
25.16%
5Y*
17.94%
10Y*
12.02%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XEU.TO vs. IVLU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XEU.TO
iShares MSCI Europe IMI Index ETF		10.43%29.40%9.34%17.38%-10.49%16.36%3.16%18.30%-8.11%18.47%
IVLU
iShares MSCI International Value Factor ETF		15.98%39.42%15.81%17.21%0.24%15.55%-6.76%10.84%-7.97%14.76%

Correlation

The correlation between XEU.TO and IVLU is 0.75, 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

0.75

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

0.70

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

0.65

Correlation (10Y)
Calculated over the trailing 10-year period

0.62

Correlation (All Time)
Calculated using the full available price history since Jul 15, 2015

0.60

The correlation between XEU.TO and IVLU shifts across timeframes, from 0.59 (all time) to 0.75 (1 year), reflecting how their relationship changes across market environments.

XEU.TO vs. IVLU - Sectors Allocation Comparison

Sectors
XEU.TO
IVLU

Financial Services

22.7%
26.5%

Industrials

15.6%
18.8%

Healthcare

11.1%
9.0%

Technology

9.1%
10.6%

Consumer Defensive

7.8%
6.0%

Consumer Cyclical

6.3%
7.6%

Basic Materials

5.0%
7.4%

Utilities

3.6%
3.6%

Energy

3.5%
5.5%

Communication Services

3.0%
3.7%

Real Estate

1.4%
1.4%

Financial Services

XEU.TO
22.7%
IVLU
26.5%

Industrials

XEU.TO
15.6%
IVLU
18.8%

Healthcare

XEU.TO
11.1%
IVLU
9.0%

Technology

XEU.TO
9.1%
IVLU
10.6%

Consumer Defensive

XEU.TO
7.8%
IVLU
6.0%

Consumer Cyclical

XEU.TO
6.3%
IVLU
7.6%

Basic Materials

XEU.TO
5.0%
IVLU
7.4%

Utilities

XEU.TO
3.6%
IVLU
3.6%

Energy

XEU.TO
3.5%
IVLU
5.5%

Communication Services

XEU.TO
3.0%
IVLU
3.7%

Real Estate

XEU.TO
1.4%
IVLU
1.4%

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

iShares MSCI International Value Factor 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 IVLU:
IVLU vs. DFIVIVLU vs. FIVAIVLU vs. VXUSIVLU vs. IDMOIVLU vs. DISVIVLU vs. IEFAIVLU vs. SFNNX

Return for Risk

XEU.TO vs. IVLU — 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: 5050
Overall Rank
XEU.TO Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
XEU.TO Sortino Ratio Rank: 5252
Sortino Ratio Rank
XEU.TO Omega Ratio Rank: 5151
Omega Ratio Rank
XEU.TO Calmar Ratio Rank: 4343
Calmar Ratio Rank
XEU.TO Martin Ratio Rank: 5151
Martin Ratio Rank
IVLU
IVLU Risk / Return Rank: 8080
Overall Rank
IVLU Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
IVLU Sortino Ratio Rank: 8484
Sortino Ratio Rank
IVLU Omega Ratio Rank: 8383
Omega Ratio Rank
IVLU Calmar Ratio Rank: 7373
Calmar Ratio Rank
IVLU 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. IVLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe IMI Index ETF (XEU.TO) and iShares MSCI International Value Factor ETF (IVLU). 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.TOIVLUDifference
Sharpe ratioReturn per unit of total volatility
1.45
2.35

-0.89

Sortino ratioReturn per unit of downside risk
2.08
3.20

-1.12

Omega ratioGain probability vs. loss probability

1.26

1.41

-0.15

Calmar ratioReturn relative to maximum drawdown

1.79

3.27

-1.48

Martin ratioReturn relative to average drawdown

6.87

12.46

-5.59

XEU.TO vs. IVLU - Sharpe Ratio Comparison

The current XEU.TO Sharpe Ratio is 1.45, which is lower than the IVLU Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of XEU.TO and IVLU, 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. IVLU - Drawdown Comparison

The maximum XEU.TO drawdown since its inception was -32.02%, smaller than the maximum IVLU drawdown of -34.14%. Use the drawdown chart below to compare losses from any high point for XEU.TO and IVLU.

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Drawdown Indicators

XEU.TOIVLUDifference

Max Drawdown

Largest peak-to-trough decline

-32.02%

-34.14%

+2.12%

Max Drawdown (1Y)

Largest decline over 1 year

-11.94%

-11.47%

-0.47%

Max Drawdown (3Y)

Largest decline over 3 years

-14.62%

-15.85%

+1.23%

Max Drawdown (5Y)

Largest decline over 5 years

-26.96%

-20.32%

-6.64%

Max Drawdown (10Y)

Largest decline over 10 years

-32.02%

-34.14%

+2.12%

Current Drawdown

Current decline from peak

-2.44%

-2.33%

-0.11%

Average Drawdown

Average peak-to-trough decline

-5.42%

-6.51%

+1.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.10%

3.00%

+0.10%

Volatility

XEU.TO vs. IVLU - Volatility Comparison

The current volatility for iShares MSCI Europe IMI Index ETF (XEU.TO) is 3.51%, while iShares MSCI International Value Factor ETF (IVLU) has a volatility of 4.27%. This indicates that XEU.TO experiences smaller price fluctuations and is considered to be less risky than IVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XEU.TOIVLUDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.51%

4.27%

-0.76%

Volatility (6M)

Calculated over the trailing 6-month period

12.64%

13.54%

-0.90%

Volatility (1Y)

Calculated over the trailing 1-year period

14.69%

15.98%

-1.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.82%

17.56%

-2.74%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.72%

18.39%

-2.67%

XEU.TO vs. IVLU - Expense Ratio Comparison

XEU.TO has a 0.28% expense ratio, which is lower than IVLU's 0.30% expense ratio.

Dividends

XEU.TO vs. IVLU - Dividend Comparison

XEU.TO's dividend yield for the trailing twelve months is around 2.67%, less than IVLU's 3.32% yield.

PositionTTM20252024202320222021202020192018201720162015
IVLU
iShares MSCI International Value Factor ETF		3.32%3.71%4.46%4.69%3.59%3.47%2.05%3.53%2.82%2.87%2.53%0.93%
XEU.TO
iShares MSCI Europe IMI Index ETF		2.67%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 IVLU have a correlation of 0.75, 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 0.30% for IVLU.

XEU.TO is categorized as Europe Equities, while IVLU is Foreign Large Cap Equities. XEU.TO tracks MSCI Europe Investable Market Index (IMI) Net Return in CAD, while IVLU tracks MSCI World ex USA Enhanced Value Index. Their fees differ too: 0.28% for XEU.TO and 0.30% for IVLU.

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