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XHC.TO vs. VXM.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XHC.TO vs. VXM.TO

Last updated Jun 4, 2026

XHC.TO (iShares Global Healthcare Index ETF (CAD-Hedged)) and VXM.TO (CI Morningstar International Value CAD Hedged) are both exchange-traded funds - XHC.TO is a Health & Biotech Equities fund tracking the Morningstar Gbl GR CAD, while VXM.TO is a International Equity fund tracking the Morningstar® Developed Markets ex-North America Target Value Index. Both are passively managed. Over the past 10 years, XHC.TO returned 6.87%/yr vs 13.33%/yr for VXM.TO. At a 0.30 correlation, their price movements are largely independent. Both charge a 0.66% expense ratio.

Performance

XHC.TO vs. VXM.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Global Healthcare Index ETF (CAD-Hedged) (XHC.TO) and CI Morningstar International Value CAD Hedged (VXM.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, XHC.TO achieves a -5.65% return, which is significantly lower than VXM.TO's 10.12% return. Over the past 10 years, XHC.TO has underperformed VXM.TO with an annualized return of 6.87%, while VXM.TO has yielded a comparatively higher 13.33% annualized return.

XHC.TO

1D
0.59%
1M
0.77%
YTD
-5.65%
6M
-5.54%
1Y
7.72%
3Y*
2.70%
5Y*
3.54%
10Y*
6.87%

VXM.TO

1D
-0.19%
1M
3.10%
YTD
10.12%
6M
14.12%
1Y
36.80%
3Y*
29.48%
5Y*
19.56%
10Y*
13.33%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XHC.TO vs. VXM.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XHC.TO
iShares Global Healthcare Index ETF (CAD-Hedged)		-5.65%10.91%1.22%2.14%-3.56%21.32%8.71%22.47%2.20%16.84%
VXM.TO
CI Morningstar International Value CAD Hedged		10.12%44.77%19.29%24.09%3.19%19.09%-13.99%16.55%-15.76%24.08%

Correlation

The correlation between XHC.TO and VXM.TO is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.46

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

0.29

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

0.27

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

0.32

Correlation (All Time)
Calculated using the full available price history since Nov 25, 2014

0.30

The correlation between XHC.TO and VXM.TO shifts across timeframes, from 0.27 (5 years) to 0.46 (1 year), reflecting how their relationship changes across market environments.

XHC.TO vs. VXM.TO - Sectors Allocation Comparison

Sectors
XHC.TO
VXM.TO

Healthcare

97.4%
2.0%

Consumer Defensive

0.5%
6.5%

Basic Materials

-

7.1%

Communication Services

-

3.5%

Consumer Cyclical

-

16.8%

Energy

-

7.8%

Financial Services

-

16.0%

Industrials

-

25.0%

Real Estate

-

1.0%

Technology

-

3.8%

Utilities

-

10.5%

Healthcare

XHC.TO
97.4%
VXM.TO
2.0%

Consumer Defensive

XHC.TO
0.5%
VXM.TO
6.5%

Basic Materials

XHC.TO

-

VXM.TO
7.1%

Communication Services

XHC.TO

-

VXM.TO
3.5%

Consumer Cyclical

XHC.TO

-

VXM.TO
16.8%

Energy

XHC.TO

-

VXM.TO
7.8%

Financial Services

XHC.TO

-

VXM.TO
16.0%

Industrials

XHC.TO

-

VXM.TO
25.0%

Real Estate

XHC.TO

-

VXM.TO
1.0%

Technology

XHC.TO

-

VXM.TO
3.8%

Utilities

XHC.TO

-

VXM.TO
10.5%

Compare stocks, funds, or ETFs

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iShares Global Healthcare Index ETF (CAD-Hedged)

CI Morningstar International Value CAD Hedged

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Often compared with VXM.TO:
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Return for Risk

XHC.TO vs. VXM.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XHC.TO
XHC.TO Risk / Return Rank: 1717
Overall Rank
XHC.TO Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
XHC.TO Sortino Ratio Rank: 1717
Sortino Ratio Rank
XHC.TO Omega Ratio Rank: 1616
Omega Ratio Rank
XHC.TO Calmar Ratio Rank: 1818
Calmar Ratio Rank
XHC.TO Martin Ratio Rank: 1717
Martin Ratio Rank
VXM.TO
VXM.TO Risk / Return Rank: 8282
Overall Rank
VXM.TO Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
VXM.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
VXM.TO Omega Ratio Rank: 8787
Omega Ratio Rank
VXM.TO Calmar Ratio Rank: 7777
Calmar Ratio Rank
VXM.TO Martin Ratio Rank: 7575
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.

XHC.TO vs. VXM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Healthcare Index ETF (CAD-Hedged) (XHC.TO) and CI Morningstar International Value CAD Hedged (VXM.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.

XHC.TOVXM.TODifference
Sharpe ratioReturn per unit of total volatility
0.54
2.85

-2.31

Sortino ratioReturn per unit of downside risk
0.91
3.83

-2.92

Omega ratioGain probability vs. loss probability

1.10

1.54

-0.44

Calmar ratioReturn relative to maximum drawdown

0.72

3.93

-3.22

Martin ratioReturn relative to average drawdown

1.76

14.50

-12.74

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

XHC.TO vs. VXM.TO - Sharpe Ratio Comparison

The current XHC.TO Sharpe Ratio is 0.54, which is lower than the VXM.TO Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of XHC.TO and VXM.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

XHC.TOVXM.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.54

2.85

-2.31

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.26

1.33

-1.07

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.44

0.79

-0.35

Sharpe Ratio (All Time)

Calculated using the full available price history

0.67

0.64

+0.04

Drawdowns

XHC.TO vs. VXM.TO - Drawdown Comparison

The maximum XHC.TO drawdown since its inception was -27.28%, smaller than the maximum VXM.TO drawdown of -42.73%. Use the drawdown chart below to compare losses from any high point for XHC.TO and VXM.TO.

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Drawdown Indicators

XHC.TOVXM.TODifference

Max Drawdown

Largest peak-to-trough decline

-27.28%

-42.73%

+15.45%

Max Drawdown (1Y)

Largest decline over 1 year

-10.79%

-9.40%

-1.39%

Max Drawdown (3Y)

Largest decline over 3 years

-18.81%

-13.71%

-5.10%

Max Drawdown (5Y)

Largest decline over 5 years

-18.81%

-14.47%

-4.34%

Max Drawdown (10Y)

Largest decline over 10 years

-27.28%

-42.73%

+15.45%

Current Drawdown

Current decline from peak

-9.76%

-3.49%

-6.27%

Average Drawdown

Average peak-to-trough decline

-4.85%

-7.51%

+2.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.39%

2.54%

+1.85%

Volatility

XHC.TO vs. VXM.TO - Volatility Comparison

The current volatility for iShares Global Healthcare Index ETF (CAD-Hedged) (XHC.TO) is 4.76%, while CI Morningstar International Value CAD Hedged (VXM.TO) has a volatility of 5.92%. This indicates that XHC.TO experiences smaller price fluctuations and is considered to be less risky than VXM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XHC.TOVXM.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.76%

5.92%

-1.16%

Volatility (6M)

Calculated over the trailing 6-month period

10.21%

11.01%

-0.80%

Volatility (1Y)

Calculated over the trailing 1-year period

14.34%

12.99%

+1.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.87%

14.82%

-0.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.75%

16.97%

-1.22%

XHC.TO vs. VXM.TO - Expense Ratio Comparison

Both XHC.TO and VXM.TO have an expense ratio of 0.66%.

Dividends

XHC.TO vs. VXM.TO - Dividend Comparison

XHC.TO's dividend yield for the trailing twelve months is around 1.98%, less than VXM.TO's 2.14% yield.

PositionTTM20252024202320222021202020192018201720162015
VXM.TO
CI Morningstar International Value CAD Hedged		2.14%2.03%3.60%3.37%3.54%2.08%2.27%1.56%2.07%1.51%1.85%2.14%
XHC.TO
iShares Global Healthcare Index ETF (CAD-Hedged)		1.98%1.87%4.42%2.38%0.84%0.79%0.96%1.07%1.68%1.14%1.63%2.15%

Frequently Asked Questions

XHC.TO and VXM.TO have a correlation of 0.46, 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 0.66% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

XHC.TO and VXM.TO have the same expense ratio: 0.66% per year.

XHC.TO is categorized as Health & Biotech Equities, while VXM.TO is International Equity. XHC.TO tracks Morningstar Gbl GR CAD, while VXM.TO tracks Morningstar® Developed Markets ex-North America Target Value Index. They also come from different issuers: iShares and CI Investments.

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