PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
XFH.TO vs. XAW.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XFH.TO vs. XAW.TO

Last updated Jun 5, 2026

XFH.TO (iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged)) and XAW.TO (iShares Core MSCI All Country World ex Canada Index ETF) are both Global Equities funds from iShares - XFH.TO tracks the Morningstar DM xNA GR CAD while XAW.TO tracks the Morningstar Gbl GR CAD. Both are passively managed. Over the past 10 years, XFH.TO returned 10.20%/yr vs 13.26%/yr for XAW.TO. A 0.72 correlation means they provide meaningful diversification when combined. Both charge a 0.22% expense ratio.

Performance

XFH.TO vs. XAW.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 iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, XFH.TO achieves a 9.98% return, which is significantly lower than XAW.TO's 14.15% return. Over the past 10 years, XFH.TO has underperformed XAW.TO with an annualized return of 10.20%, while XAW.TO has yielded a comparatively higher 13.26% annualized 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%

XAW.TO

1D
0.40%
1M
6.30%
YTD
14.15%
6M
12.98%
1Y
31.14%
3Y*
21.98%
5Y*
14.05%
10Y*
13.26%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XFH.TO vs. XAW.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%
XAW.TO
iShares Core MSCI All Country World ex Canada Index ETF		14.15%15.87%26.31%18.45%-11.84%18.38%12.37%19.82%-2.28%16.10%

Correlation

The correlation between XFH.TO and XAW.TO is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.84

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

0.79

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

0.80

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

0.77

Correlation (All Time)
Calculated using the full available price history since Feb 23, 2015

0.72

The correlation between XFH.TO and XAW.TO shifts across timeframes, from 0.72 (all time) to 0.84 (1 year), reflecting how their relationship changes across market environments.

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

Sectors
XFH.TO
XAW.TO

Financial Services

22.9%
13.7%

Industrials

20.5%
9.1%

Technology

10.2%
32.6%

Healthcare

9.8%
7.8%

Consumer Cyclical

8.2%
8.8%

Basic Materials

6.6%
2.8%

Consumer Defensive

6.4%
4.6%

Communication Services

4.5%
8.7%

Energy

4.0%
3.3%

Utilities

3.8%
2.2%

Real Estate

3.1%
1.4%

Financial Services

XFH.TO
22.9%
XAW.TO
13.7%

Industrials

XFH.TO
20.5%
XAW.TO
9.1%

Technology

XFH.TO
10.2%
XAW.TO
32.6%

Healthcare

XFH.TO
9.8%
XAW.TO
7.8%

Consumer Cyclical

XFH.TO
8.2%
XAW.TO
8.8%

Basic Materials

XFH.TO
6.6%
XAW.TO
2.8%

Consumer Defensive

XFH.TO
6.4%
XAW.TO
4.6%

Communication Services

XFH.TO
4.5%
XAW.TO
8.7%

Energy

XFH.TO
4.0%
XAW.TO
3.3%

Utilities

XFH.TO
3.8%
XAW.TO
2.2%

Real Estate

XFH.TO
3.1%
XAW.TO
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 Core MSCI EAFE IMI Index ETF (CAD-Hedged)

iShares Core MSCI All Country World ex Canada Index 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 XAW.TO:
XAW.TO vs. XEQT.TOXAW.TO vs. VXC.TOXAW.TO vs. VEQT.TOXAW.TO vs. XUU.TOXAW.TO vs. XIC.TOXAW.TO vs. XGRO.TOXAW.TO vs. VT

Return for Risk

XFH.TO vs. XAW.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
XAW.TO
XAW.TO Risk / Return Rank: 8080
Overall Rank
XAW.TO Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
XAW.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
XAW.TO Omega Ratio Rank: 8282
Omega Ratio Rank
XAW.TO Calmar Ratio Rank: 7777
Calmar Ratio Rank
XAW.TO Martin Ratio Rank: 7979
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. XAW.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 iShares Core MSCI All Country World ex Canada Index ETF (XAW.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.TOXAW.TODifference
Sharpe ratioReturn per unit of total volatility
1.95
2.55

-0.60

Sortino ratioReturn per unit of downside risk
2.78
3.55

-0.77

Omega ratioGain probability vs. loss probability

1.37

1.49

-0.12

Calmar ratioReturn relative to maximum drawdown

2.43

3.84

-1.40

Martin ratioReturn relative to average drawdown

10.02

15.47

-5.45

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. XAW.TO - Sharpe Ratio Comparison

The current XFH.TO Sharpe Ratio is 1.95, which is comparable to the XAW.TO Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of XFH.TO and XAW.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.

Loading charts...

Sharpe Ratios by Period

XFH.TOXAW.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.95

2.55

-0.60

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.74

1.04

-0.30

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.63

0.88

-0.25

Sharpe Ratio (All Time)

Calculated using the full available price history

0.51

0.79

-0.28

Drawdowns

XFH.TO vs. XAW.TO - Drawdown Comparison

The maximum XFH.TO drawdown since its inception was -33.85%, which is greater than XAW.TO's maximum drawdown of -27.32%. Use the drawdown chart below to compare losses from any high point for XFH.TO and XAW.TO.

Loading charts...

Drawdown Indicators

XFH.TOXAW.TODifference

Max Drawdown

Largest peak-to-trough decline

-33.85%

-27.32%

-6.53%

Max Drawdown (1Y)

Largest decline over 1 year

-9.63%

-8.16%

-1.47%

Max Drawdown (3Y)

Largest decline over 3 years

-14.14%

-16.66%

+2.52%

Max Drawdown (5Y)

Largest decline over 5 years

-20.59%

-21.02%

+0.43%

Max Drawdown (10Y)

Largest decline over 10 years

-33.85%

-27.32%

-6.53%

Current Drawdown

Current decline from peak

-0.60%

0.00%

-0.60%

Average Drawdown

Average peak-to-trough decline

-5.61%

-3.91%

-1.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.33%

2.02%

+0.31%

Volatility

XFH.TO vs. XAW.TO - Volatility Comparison

iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged) (XFH.TO) and iShares Core MSCI All Country World ex Canada Index ETF (XAW.TO) have volatilities of 3.93% and 4.12%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

XFH.TOXAW.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.93%

4.12%

-0.19%

Volatility (6M)

Calculated over the trailing 6-month period

9.87%

9.86%

+0.01%

Volatility (1Y)

Calculated over the trailing 1-year period

12.01%

12.25%

-0.24%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.03%

13.56%

+0.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.16%

15.12%

+1.04%

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

Both XFH.TO and XAW.TO have an expense ratio of 0.22%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

XFH.TO vs. XAW.TO - Dividend Comparison

XFH.TO's dividend yield for the trailing twelve months is around 1.96%, more than XAW.TO's 1.16% yield.

PositionTTM20252024202320222021202020192018201720162015
XAW.TO
iShares Core MSCI All Country World ex Canada Index ETF		1.16%1.33%1.61%1.71%1.79%1.77%1.49%2.02%2.29%1.92%1.80%1.83%
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 XAW.TO have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Both ETFs have the same 0.22% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

XFH.TO and XAW.TO have the same expense ratio: 0.22% per year.

XFH.TO tracks Morningstar DM xNA GR CAD, while XAW.TO tracks Morningstar Gbl GR CAD.

Portfolio Optimizer

Find the right allocation for XFH.TO and XAW.TO

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