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

XFH.TO vs. VVO.TO

Last updated Jun 5, 2026

XFH.TO (iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged)) and VVO.TO (Vanguard Global Minimum Volatility ETF) are both Global Equities funds - XFH.TO tracks the Morningstar DM xNA GR CAD while VVO.TO tracks the FTSE Global All Cap Index. Both are passively managed. Over the past 5 years, XFH.TO returned 10.31%/yr vs 6.64%/yr for VVO.TO. A 0.55 correlation means they provide meaningful diversification when combined. XFH.TO charges 0.22%/yr vs 0.39%/yr for VVO.TO.

Performance

XFH.TO vs. VVO.TO - 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 Vanguard Global Minimum Volatility ETF (VVO.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XFH.TO achieves a 9.98% return, which is significantly higher than VVO.TO's 6.35% return.

XFH.TO

1D
0.70%
1M
3.65%
YTD
9.98%
6M
11.71%
1Y
23.32%
3Y*
16.60%
5Y*
10.31%
10Y*
10.20%

VVO.TO

1D
0.72%
1M
1.33%
YTD
6.35%
6M
7.25%
1Y
10.04%
3Y*
11.66%
5Y*
6.64%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XFH.TO vs. VVO.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%23.05%-10.97%17.50%
VVO.TO
Vanguard Global Minimum Volatility ETF		6.35%9.74%13.56%4.87%-5.18%10.43%-2.48%19.40%-2.10%14.32%

Correlation

The correlation between XFH.TO and VVO.TO is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.47

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

0.45

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

0.50

Correlation (All Time)
Calculated using the full available price history since Jun 24, 2016

0.55

The correlation between XFH.TO and VVO.TO has been stable across timeframes, ranging from 0.45 to 0.55 - a consistent structural relationship.

XFH.TO vs. VVO.TO - Sectors Allocation Comparison

Sectors
XFH.TO
VVO.TO

Financial Services

22.9%
12.4%

Industrials

20.5%
10.5%

Technology

10.2%
19.8%

Healthcare

9.8%
13.0%

Consumer Cyclical

8.2%
6.6%

Basic Materials

6.6%
0.5%

Consumer Defensive

6.4%
9.6%

Communication Services

4.5%
11.5%

Energy

4.0%
5.3%

Utilities

3.8%
7.4%

Real Estate

3.1%
3.5%

Financial Services

XFH.TO
22.9%
VVO.TO
12.4%

Industrials

XFH.TO
20.5%
VVO.TO
10.5%

Technology

XFH.TO
10.2%
VVO.TO
19.8%

Healthcare

XFH.TO
9.8%
VVO.TO
13.0%

Consumer Cyclical

XFH.TO
8.2%
VVO.TO
6.6%

Basic Materials

XFH.TO
6.6%
VVO.TO
0.5%

Consumer Defensive

XFH.TO
6.4%
VVO.TO
9.6%

Communication Services

XFH.TO
4.5%
VVO.TO
11.5%

Energy

XFH.TO
4.0%
VVO.TO
5.3%

Utilities

XFH.TO
3.8%
VVO.TO
7.4%

Real Estate

XFH.TO
3.1%
VVO.TO
3.5%

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

Vanguard Global Minimum Volatility ETF

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Often compared with VVO.TO:
VVO.TO vs. CAGE.TOVVO.TO vs. XEQT.TOVVO.TO vs. TILV.TOVVO.TO vs. FLVI.NEOVVO.TO vs. FGEP.TOVVO.TO vs. VVL.TOVVO.TO vs. VMO.TO

Return for Risk

XFH.TO vs. VVO.TO — 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
VVO.TO
VVO.TO Risk / Return Rank: 3636
Overall Rank
VVO.TO Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
VVO.TO Sortino Ratio Rank: 3737
Sortino Ratio Rank
VVO.TO Omega Ratio Rank: 3838
Omega Ratio Rank
VVO.TO Calmar Ratio Rank: 3232
Calmar Ratio Rank
VVO.TO Martin Ratio Rank: 3838
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. VVO.TO - 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 Vanguard Global Minimum Volatility ETF (VVO.TO). 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.TOVVO.TODifference
Sharpe ratioReturn per unit of total volatility
1.95
1.31

+0.64

Sortino ratioReturn per unit of downside risk
2.78
1.88

+0.90

Omega ratioGain probability vs. loss probability

1.37

1.25

+0.12

Calmar ratioReturn relative to maximum drawdown

2.43

1.56

+0.87

Martin ratioReturn relative to average drawdown

10.02

5.77

+4.25

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. VVO.TO - Sharpe Ratio Comparison

The current XFH.TO Sharpe Ratio is 1.95, which is higher than the VVO.TO Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of XFH.TO and VVO.TO, 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.TOVVO.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.95

1.31

+0.64

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.74

0.68

+0.06

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

0.59

-0.09

Drawdowns

XFH.TO vs. VVO.TO - Drawdown Comparison

The maximum XFH.TO drawdown since its inception was -33.85%, roughly equal to the maximum VVO.TO drawdown of -33.20%. Use the drawdown chart below to compare losses from any high point for XFH.TO and VVO.TO.

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Drawdown Indicators

XFH.TOVVO.TODifference

Max Drawdown

Largest peak-to-trough decline

-33.85%

-33.20%

-0.65%

Max Drawdown (1Y)

Largest decline over 1 year

-9.63%

-6.47%

-3.16%

Max Drawdown (3Y)

Largest decline over 3 years

-14.14%

-6.98%

-7.16%

Max Drawdown (5Y)

Largest decline over 5 years

-20.59%

-14.37%

-6.22%

Max Drawdown (10Y)

Largest decline over 10 years

-33.85%

—

—

Current Drawdown

Current decline from peak

-0.60%

-1.06%

+0.46%

Average Drawdown

Average peak-to-trough decline

-5.61%

-3.45%

-2.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.33%

1.74%

+0.59%

Volatility

XFH.TO vs. VVO.TO - Volatility Comparison

iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged) (XFH.TO) has a higher volatility of 3.93% compared to Vanguard Global Minimum Volatility ETF (VVO.TO) at 2.18%. This indicates that XFH.TO's price experiences larger fluctuations and is considered to be riskier than VVO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XFH.TOVVO.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.93%

2.18%

+1.75%

Volatility (6M)

Calculated over the trailing 6-month period

9.87%

5.87%

+4.00%

Volatility (1Y)

Calculated over the trailing 1-year period

12.01%

7.68%

+4.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.03%

9.83%

+4.20%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.16%

12.09%

+4.07%

XFH.TO vs. VVO.TO - Expense Ratio Comparison

XFH.TO has a 0.22% expense ratio, which is lower than VVO.TO's 0.39% expense ratio.

Dividends

XFH.TO vs. VVO.TO - Dividend Comparison

XFH.TO's dividend yield for the trailing twelve months is around 1.96%, less than VVO.TO's 2.00% yield.

PositionTTM20252024202320222021202020192018201720162015
VVO.TO
Vanguard Global Minimum Volatility ETF		2.00%2.13%2.05%2.68%1.55%2.30%2.23%2.22%1.87%2.07%0.71%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 VVO.TO have a correlation of 0.47, 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 0.39% for VVO.TO.

XFH.TO tracks Morningstar DM xNA GR CAD, while VVO.TO tracks FTSE Global All Cap Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.22% for XFH.TO and 0.39% for VVO.TO.

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