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XFH.TO vs. FRDM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XFH.TO vs. FRDM

Last updated Jun 5, 2026

XFH.TO (iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged)) and FRDM (Freedom 100 Emerging Markets ETF) are both exchange-traded funds - XFH.TO is a Global Equities fund tracking the Morningstar DM xNA GR CAD, while FRDM is a Emerging Markets Diversified fund tracking the Life + Liberty Freedom 100 Emerging Markets Index. Both are passively managed. Over the past 5 years, XFH.TO returned 10.31%/yr vs 22.35%/yr for FRDM. A 0.57 correlation means they provide meaningful diversification when combined. XFH.TO charges 0.22%/yr vs 0.49%/yr for FRDM.

Performance

XFH.TO vs. FRDM - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged) (XFH.TO) and Freedom 100 Emerging Markets ETF (FRDM). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, XFH.TO achieves a 9.98% return, which is significantly lower than FRDM's 44.32% return.

XFH.TO

1D
0.70%
1M
1.61%
YTD
9.98%
6M
11.71%
1Y
23.46%
3Y*
16.60%
5Y*
10.31%
10Y*
10.20%

FRDM

1D
0.00%
1M
8.94%
YTD
44.32%
6M
51.66%
1Y
94.65%
3Y*
37.90%
5Y*
22.35%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XFH.TO vs. FRDM - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XFH.TO
iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged)		9.98%21.68%11.68%18.28%-6.60%12.13%0.84%11.67%
FRDM
Freedom 100 Emerging Markets ETF		32.79%53.88%10.44%20.07%-8.35%5.17%14.93%8.17%

Correlation

The correlation between XFH.TO and FRDM is 0.63, 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

0.63

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

0.59

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

0.57

Correlation (All Time)
Calculated using the full available price history since May 24, 2019

0.57

The correlation between XFH.TO and FRDM has been stable across timeframes, ranging from 0.57 to 0.63 - a consistent structural relationship.

XFH.TO vs. FRDM - Sectors Allocation Comparison

Sectors
XFH.TO
FRDM

Financial Services

22.9%
22.1%

Industrials

20.5%
8.6%

Technology

10.2%
41.1%

Healthcare

9.8%
1.8%

Consumer Cyclical

8.2%
7.8%

Basic Materials

6.6%
7.4%

Consumer Defensive

6.4%
2.2%

Communication Services

4.5%
3.9%

Energy

4.0%
0.1%

Utilities

3.8%
2.6%

Real Estate

3.1%
2.5%

Financial Services

XFH.TO
22.9%
FRDM
22.1%

Industrials

XFH.TO
20.5%
FRDM
8.6%

Technology

XFH.TO
10.2%
FRDM
41.1%

Healthcare

XFH.TO
9.8%
FRDM
1.8%

Consumer Cyclical

XFH.TO
8.2%
FRDM
7.8%

Basic Materials

XFH.TO
6.6%
FRDM
7.4%

Consumer Defensive

XFH.TO
6.4%
FRDM
2.2%

Communication Services

XFH.TO
4.5%
FRDM
3.9%

Energy

XFH.TO
4.0%
FRDM
0.1%

Utilities

XFH.TO
3.8%
FRDM
2.6%

Real Estate

XFH.TO
3.1%
FRDM
2.5%

Compare stocks, funds, or ETFs

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iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged)

Freedom 100 Emerging Markets ETF

Often compared with XFH.TO:
XFH.TO vs. XEF.TOXFH.TO vs. XIN.TOXFH.TO vs. XLCXFH.TO vs. VIU.TOXFH.TO vs. VEQT.TOXFH.TO vs. QQC.TOXFH.TO vs. VOO
Often compared with FRDM:
FRDM vs. SPYFRDM vs. EMDMFRDM vs. AVSEFRDM vs. EMXC.LFRDM vs. DAADXFRDM vs. DFAEFRDM vs. DEHP

Return for Risk

XFH.TO vs. FRDM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XFH.TO
XFH.TO Risk / Return Rank: 5858
Overall Rank
XFH.TO Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
XFH.TO Sortino Ratio Rank: 6060
Sortino Ratio Rank
XFH.TO Omega Ratio Rank: 6262
Omega Ratio Rank
XFH.TO Calmar Ratio Rank: 5050
Calmar Ratio Rank
XFH.TO Martin Ratio Rank: 5858
Martin Ratio Rank
FRDM
FRDM Risk / Return Rank: 8585
Overall Rank
FRDM Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
FRDM Sortino Ratio Rank: 7979
Sortino Ratio Rank
FRDM Omega Ratio Rank: 8686
Omega Ratio Rank
FRDM Calmar Ratio Rank: 8585
Calmar Ratio Rank
FRDM Martin Ratio Rank: 8686
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.

XFH.TO vs. FRDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged) (XFH.TO) and Freedom 100 Emerging Markets ETF (FRDM). 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.

XFH.TOFRDMDifference
Sharpe ratioReturn per unit of total volatility
1.95
4.01

-2.06

Sortino ratioReturn per unit of downside risk
2.78
4.75

-1.97

Omega ratioGain probability vs. loss probability

1.37

1.69

-0.32

Calmar ratioReturn relative to maximum drawdown

2.43

6.20

-3.77

Martin ratioReturn relative to average drawdown

10.02

23.89

-13.87

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XFH.TO vs. FRDM - Sharpe Ratio Comparison

The current XFH.TO Sharpe Ratio is 1.95, which is lower than the FRDM Sharpe Ratio of 4.01. The chart below compares the historical Sharpe Ratios of XFH.TO and FRDM, 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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Sharpe Ratios by Period

XFH.TOFRDMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.95

4.01

-2.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.74

1.23

-0.49

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.63

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.51

0.99

-0.48

Drawdowns

XFH.TO vs. FRDM - Drawdown Comparison

The maximum XFH.TO drawdown since its inception was -33.85%, roughly equal to the maximum FRDM drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for XFH.TO and FRDM.

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Drawdown Indicators

XFH.TOFRDMDifference

Max Drawdown

Largest peak-to-trough decline

-33.85%

-33.94%

+0.09%

Max Drawdown (1Y)

Largest decline over 1 year

-9.63%

-15.35%

+5.72%

Max Drawdown (3Y)

Largest decline over 3 years

-14.14%

-15.35%

+1.21%

Max Drawdown (5Y)

Largest decline over 5 years

-20.59%

-22.15%

+1.56%

Max Drawdown (10Y)

Largest decline over 10 years

-33.85%

—

—

Current Drawdown

Current decline from peak

-0.60%

-2.34%

+1.74%

Average Drawdown

Average peak-to-trough decline

-5.61%

-5.54%

-0.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.33%

3.98%

-1.65%

Volatility

XFH.TO vs. FRDM - Volatility Comparison

The current volatility for iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged) (XFH.TO) is 3.93%, while Freedom 100 Emerging Markets ETF (FRDM) has a volatility of 9.96%. This indicates that XFH.TO experiences smaller price fluctuations and is considered to be less risky than FRDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XFH.TOFRDMDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.93%

9.96%

-6.03%

Volatility (6M)

Calculated over the trailing 6-month period

9.87%

21.08%

-11.21%

Volatility (1Y)

Calculated over the trailing 1-year period

12.01%

23.75%

-11.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.03%

18.22%

-4.19%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.16%

19.95%

-3.79%

XFH.TO vs. FRDM - Expense Ratio Comparison

XFH.TO has a 0.22% expense ratio, which is lower than FRDM's 0.49% expense ratio.

Dividends

XFH.TO vs. FRDM - Dividend Comparison

XFH.TO's dividend yield for the trailing twelve months is around 1.96%, more than FRDM's 1.67% yield.

PositionTTM20252024202320222021202020192018201720162015
FRDM
Freedom 100 Emerging Markets ETF		1.67%2.26%2.53%2.66%2.72%2.17%1.11%1.07%0.00%0.00%0.00%0.00%
XFH.TO
iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged)		1.96%2.16%2.47%2.91%2.91%2.29%1.73%2.43%2.66%2.11%2.03%2.45%

Frequently Asked Questions

XFH.TO and FRDM have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

XFH.TO is cheaper with a 0.22% expense ratio, compared with 0.49% for FRDM.

XFH.TO is categorized as Global Equities, while FRDM is Emerging Markets Diversified. XFH.TO tracks Morningstar DM xNA GR CAD, while FRDM tracks Life + Liberty Freedom 100 Emerging Markets Index. They also come from different issuers: iShares and Freedom Funds. Their fees differ too: 0.22% for XFH.TO and 0.49% for FRDM.

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