XIC.TO vs. XEF.TO

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) and iShares Core MSCI EAFE IMI Index ETF (XEF.TO).

XIC.TO and XEF.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XIC.TO is a passively managed fund by iShares that tracks the performance of the Morningstar Canada GR CAD. It was launched on Feb 16, 2001. XEF.TO is a passively managed fund by iShares that tracks the performance of the Morningstar DM xNA GR CAD. It was launched on Apr 10, 2013. Both XIC.TO and XEF.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XIC.TO vs. XEF.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) and iShares Core MSCI EAFE IMI Index ETF (XEF.TO). The values are adjusted to include any dividend payments, if applicable.

XIC.TO vs. XEF.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF	3.89%	31.51%	21.48%	11.73%	-5.82%	23.42%	5.61%	22.76%	-8.72%	8.99%
XEF.TO iShares Core MSCI EAFE IMI Index ETF	2.29%	25.69%	12.04%	15.21%	-9.53%	10.36%	6.13%	15.86%	-6.65%	18.19%

Returns By Period

In the year-to-date period, XIC.TO achieves a 3.89% return, which is significantly higher than XEF.TO's 2.29% return. Over the past 10 years, XIC.TO has outperformed XEF.TO with an annualized return of 12.45%, while XEF.TO has yielded a comparatively lower 9.32% annualized return.

XIC.TO

• 1D: 2.55%
• 1M: -4.36%
• YTD: 3.89%
• 6M: 10.31%
• 1Y: 34.58%
• 3Y*: 21.07%
• 5Y*: 14.44%
• 10Y*: 12.45%

XEF.TO

• 1D: 2.93%
• 1M: -6.27%
• YTD: 2.29%
• 6M: 5.53%
• 1Y: 19.64%
• 3Y*: 15.35%
• 5Y*: 9.83%
• 10Y*: 9.32%

*Multi-year figures are annualized to reflect compound growth (CAGR)

XIC.TO vs. XEF.TO - Expense Ratio Comparison

XIC.TO has a 0.06% expense ratio, which is lower than XEF.TO's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

XEF.TO

iShares Core MSCI EAFE IMI Index ETF

XIC.TO

iShares Core S&P/TSX Capped Composite Index ETF

Return for Risk

XIC.TO vs. XEF.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XIC.TO

XIC.TO Risk / Return Rank: 94
XIC.TO Sharpe Ratio Rank: 95
XIC.TO Sortino Ratio Rank: 94
XIC.TO Omega Ratio Rank: 95
XIC.TO Calmar Ratio Rank: 92
XIC.TO Martin Ratio Rank: 95

XEF.TO

XEF.TO Risk / Return Rank: 70
XEF.TO Sharpe Ratio Rank: 71
XEF.TO Sortino Ratio Rank: 71
XEF.TO Omega Ratio Rank: 71
XEF.TO Calmar Ratio Rank: 70
XEF.TO Martin Ratio Rank: 68

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.

XIC.TO vs. XEF.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) and iShares Core MSCI EAFE IMI Index ETF (XEF.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.

	XIC.TO	XEF.TO	Difference
Sharpe ratio Return per unit of total volatility	2.27	1.20	+1.07
Sortino ratio Return per unit of downside risk	2.87	1.70	+1.17
Omega ratio Gain probability vs. loss probability	1.45	1.25	+0.20
Calmar ratio Return relative to maximum drawdown	3.25	1.68	+1.56
Martin ratio Return relative to average drawdown	14.62	6.40	+8.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XIC.TO vs. XEF.TO - Sharpe Ratio Comparison

The current XIC.TO Sharpe Ratio is 2.27, which is higher than the XEF.TO Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of XIC.TO and XEF.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XIC.TO	XEF.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	1.20	+1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.11	0.74	+0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	0.63	+0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.68	-0.15

Correlation

The correlation between XIC.TO and XEF.TO is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

XIC.TO vs. XEF.TO - Dividend Comparison

XIC.TO's dividend yield for the trailing twelve months is around 2.16%, less than XEF.TO's 2.38% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF	2.16%	2.23%	2.64%	2.95%	3.10%	2.44%	3.03%	3.01%	3.19%	2.49%	2.72%	3.21%
XEF.TO iShares Core MSCI EAFE IMI Index ETF	2.38%	2.43%	2.76%	2.75%	2.93%	2.42%	1.93%	2.72%	2.76%	2.10%	2.42%	2.42%

Drawdowns

XIC.TO vs. XEF.TO - Drawdown Comparison

The maximum XIC.TO drawdown since its inception was -48.21%, which is greater than XEF.TO's maximum drawdown of -28.51%. Use the drawdown chart below to compare losses from any high point for XIC.TO and XEF.TO.

Drawdown Indicators

	XIC.TO	XEF.TO	Difference
Max Drawdown Largest peak-to-trough decline	-48.21%	-28.51%	-19.70%
Max Drawdown (1Y) Largest decline over 1 year	-10.98%	-11.28%	+0.30%
Max Drawdown (5Y) Largest decline over 5 years	-16.24%	-24.58%	+8.34%
Max Drawdown (10Y) Largest decline over 10 years	-37.21%	-28.51%	-8.70%
Current Drawdown Current decline from peak	-4.95%	-6.82%	+1.87%
Average Drawdown Average peak-to-trough decline	-7.08%	-4.64%	-2.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.44%	2.96%	-0.52%

Volatility

XIC.TO vs. XEF.TO - Volatility Comparison

The current volatility for iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) is 5.98%, while iShares Core MSCI EAFE IMI Index ETF (XEF.TO) has a volatility of 7.56%. This indicates that XIC.TO experiences smaller price fluctuations and is considered to be less risky than XEF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XIC.TO	XEF.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.98%	7.56%	-1.58%
Volatility (6M) Calculated over the trailing 6-month period	10.89%	10.39%	+0.50%
Volatility (1Y) Calculated over the trailing 1-year period	15.30%	16.40%	-1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.07%	13.37%	-0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.93%	14.76%	+0.17%