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

XFH.TO vs. XEI.TO

Last updated Jun 4, 2026

XFH.TO (iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged)) and XEI.TO (iShares S&P/TSX Composite High Dividend Index ETF) are both exchange-traded funds - XFH.TO is a Global Equities fund tracking the Morningstar DM xNA GR CAD, while XEI.TO is a Canada Equities fund tracking the S&P/TSX Composite High Dividend Index. Both are passively managed. Over the past 10 years, XFH.TO returned 10.13%/yr vs 12.32%/yr for XEI.TO. A 0.58 correlation means they provide meaningful diversification when combined. Both charge a 0.22% expense ratio.

Performance

XFH.TO vs. XEI.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 S&P/TSX Composite High Dividend Index ETF (XEI.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 9.22% return, which is significantly lower than XEI.TO's 22.21% return. Over the past 10 years, XFH.TO has underperformed XEI.TO with an annualized return of 10.13%, while XEI.TO has yielded a comparatively higher 12.32% annualized return.

XFH.TO

1D
-0.46%
1M
4.38%
YTD
9.22%
6M
11.32%
1Y
22.60%
3Y*
16.07%
5Y*
10.16%
10Y*
10.13%

XEI.TO

1D
0.00%
1M
3.33%
YTD
22.21%
6M
23.56%
1Y
43.59%
3Y*
22.26%
5Y*
15.55%
10Y*
12.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
XFH.TO
iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged)		9.22%21.68%11.68%18.28%-6.60%12.13%0.84%23.05%-10.97%17.50%
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		22.21%25.96%15.42%6.69%0.41%35.88%-7.53%25.44%-10.85%7.24%

Correlation

The correlation between XFH.TO and XEI.TO is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.37

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

0.54

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

0.60

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

0.61

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

0.58

Over the past year, the correlation between XFH.TO and XEI.TO has dropped to 0.37 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.

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

Sectors
XFH.TO
XEI.TO

Financial Services

22.9%
31.4%

Industrials

20.5%
0.7%

Technology

10.2%
0.7%

Healthcare

9.8%
0.2%

Consumer Cyclical

8.2%
6.2%

Basic Materials

6.6%
4.6%

Consumer Defensive

6.4%
0.5%

Communication Services

4.5%
7.6%

Energy

4.0%
32.1%

Utilities

3.8%
11.2%

Real Estate

3.1%
4.8%

Financial Services

XFH.TO
22.9%
XEI.TO
31.4%

Industrials

XFH.TO
20.5%
XEI.TO
0.7%

Technology

XFH.TO
10.2%
XEI.TO
0.7%

Healthcare

XFH.TO
9.8%
XEI.TO
0.2%

Consumer Cyclical

XFH.TO
8.2%
XEI.TO
6.2%

Basic Materials

XFH.TO
6.6%
XEI.TO
4.6%

Consumer Defensive

XFH.TO
6.4%
XEI.TO
0.5%

Communication Services

XFH.TO
4.5%
XEI.TO
7.6%

Energy

XFH.TO
4.0%
XEI.TO
32.1%

Utilities

XFH.TO
3.8%
XEI.TO
11.2%

Real Estate

XFH.TO
3.1%
XEI.TO
4.8%

Compare stocks, funds, or ETFs

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

iShares S&P/TSX Composite High Dividend 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 XEI.TO:
XEI.TO vs. VDY.TOXEI.TO vs. XDIV.TOXEI.TO vs. XEQT.TOXEI.TO vs. VFV.TOXEI.TO vs. ZDV.TOXEI.TO vs. CDZ.TOXEI.TO vs. XDV.TO

Return for Risk

XFH.TO vs. XEI.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: 5454
Overall Rank
XFH.TO Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
XFH.TO Sortino Ratio Rank: 5656
Sortino Ratio Rank
XFH.TO Omega Ratio Rank: 5757
Omega Ratio Rank
XFH.TO Calmar Ratio Rank: 4747
Calmar Ratio Rank
XFH.TO Martin Ratio Rank: 5555
Martin Ratio Rank
XEI.TO
XEI.TO Risk / Return Rank: 9898
Overall Rank
XEI.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
XEI.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
XEI.TO Omega Ratio Rank: 9898
Omega Ratio Rank
XEI.TO Calmar Ratio Rank: 9898
Calmar Ratio Rank
XEI.TO Martin Ratio Rank: 9898
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. XEI.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 S&P/TSX Composite High Dividend Index ETF (XEI.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.TOXEI.TODifference
Sharpe ratioReturn per unit of total volatility
1.89
6.08

-4.18

Sortino ratioReturn per unit of downside risk
2.71
9.07

-6.36

Omega ratioGain probability vs. loss probability

1.36

2.27

-0.91

Calmar ratioReturn relative to maximum drawdown

2.36

19.53

-17.17

Martin ratioReturn relative to average drawdown

9.71

66.28

-56.57

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. XEI.TO - Sharpe Ratio Comparison

The current XFH.TO Sharpe Ratio is 1.89, which is lower than the XEI.TO Sharpe Ratio of 6.08. The chart below compares the historical Sharpe Ratios of XFH.TO and XEI.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.TOXEI.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.89

6.08

-4.18

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.73

1.39

-0.66

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.63

0.77

-0.14

Sharpe Ratio (All Time)

Calculated using the full available price history

0.50

0.67

-0.16

Drawdowns

XFH.TO vs. XEI.TO - Drawdown Comparison

The maximum XFH.TO drawdown since its inception was -33.85%, smaller than the maximum XEI.TO drawdown of -45.51%. Use the drawdown chart below to compare losses from any high point for XFH.TO and XEI.TO.

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Drawdown Indicators

XFH.TOXEI.TODifference

Max Drawdown

Largest peak-to-trough decline

-33.85%

-45.51%

+11.66%

Max Drawdown (1Y)

Largest decline over 1 year

-9.63%

-2.24%

-7.39%

Max Drawdown (3Y)

Largest decline over 3 years

-14.14%

-9.92%

-4.22%

Max Drawdown (5Y)

Largest decline over 5 years

-20.59%

-17.32%

-3.27%

Max Drawdown (10Y)

Largest decline over 10 years

-33.85%

-45.51%

+11.66%

Current Drawdown

Current decline from peak

-1.29%

-0.76%

-0.53%

Average Drawdown

Average peak-to-trough decline

-5.61%

-5.05%

-0.56%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.33%

0.66%

+1.67%

Volatility

XFH.TO vs. XEI.TO - Volatility Comparison

iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged) (XFH.TO) has a higher volatility of 4.08% compared to iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) at 2.87%. This indicates that XFH.TO's price experiences larger fluctuations and is considered to be riskier than XEI.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.TOXEI.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.08%

2.87%

+1.21%

Volatility (6M)

Calculated over the trailing 6-month period

9.85%

6.01%

+3.84%

Volatility (1Y)

Calculated over the trailing 1-year period

12.00%

7.21%

+4.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.03%

11.24%

+2.79%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.16%

16.01%

+0.15%

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

Both XFH.TO and XEI.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. XEI.TO - Dividend Comparison

XFH.TO's dividend yield for the trailing twelve months is around 1.98%, less than XEI.TO's 3.56% yield.

PositionTTM20252024202320222021202020192018201720162015
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETF		3.56%4.39%5.56%5.08%4.78%3.65%5.13%4.71%5.53%4.37%4.51%5.75%
XFH.TO
iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged)		1.98%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 XEI.TO have a correlation of 0.37, 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 XEI.TO have the same expense ratio: 0.22% per year.

XFH.TO is categorized as Global Equities, while XEI.TO is Canada Equities. XFH.TO tracks Morningstar DM xNA GR CAD, while XEI.TO tracks S&P/TSX Composite High Dividend Index.

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