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XIU.TO vs. XEC.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XIU.TO vs. XEC.TO

Last updated Jul 18, 2026
Documentation

XIU.TO (iShares S&P/TSX 60 Index ETF) and XEC.TO (iShares Core MSCI Emerging Markets IMI Index ETF) are both exchange-traded funds - XIU.TO is a Canada Equities fund tracking the S&P/TSX 60 Index, while XEC.TO is a Emerging Markets Equities fund tracking the MSCI Emerging Markets IMI Index. Both are passively managed. Over the past 10 years, XIU.TO returned 12.72%/yr vs 9.13%/yr for XEC.TO. A 0.54 correlation means they provide meaningful diversification when combined. XIU.TO charges 0.18%/yr vs 0.28%/yr for XEC.TO.

Performance

XIU.TO vs. XEC.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX 60 Index ETF (XIU.TO) and iShares Core MSCI Emerging Markets IMI Index ETF (XEC.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, XIU.TO achieves a 13.67% return, which is significantly lower than XEC.TO's 17.71% return. Over the past 10 years, XIU.TO has outperformed XEC.TO with an annualized return of 12.72%, while XEC.TO has yielded a comparatively lower 9.13% annualized return.

XIU.TO

1D
-0.28%
1M
1.69%
6M
9.82%
YTD
13.67%
1Y
31.00%
3Y*
22.96%
5Y*
14.97%
10Y*
12.72%

XEC.TO

1D
-1.85%
1M
-8.10%
6M
10.20%
YTD
17.71%
1Y
30.89%
3Y*
20.44%
5Y*
8.19%
10Y*
9.13%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XIU.TO vs. XEC.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XIU.TO
iShares S&P/TSX 60 Index ETF		13.67%28.89%20.73%11.85%-6.35%28.06%5.27%21.81%-7.82%9.58%
XEC.TO
iShares Core MSCI Emerging Markets IMI Index ETF		17.71%25.78%16.14%7.92%-14.76%-1.75%15.08%11.54%-8.26%27.93%

Correlation

The correlation between XIU.TO and XEC.TO is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.51

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

0.49

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

0.49

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

0.52

Correlation (All Time)
Calculated using the full available price history since Apr 15, 2013

0.54

The correlation between XIU.TO and XEC.TO has been stable across timeframes, ranging from 0.49 to 0.54 - a consistent structural relationship.

XIU.TO vs. XEC.TO - Sectors Allocation Comparison

Sectors
XIU.TO
XEC.TO

Financial Services

40.3%
14.3%

Energy

17.7%
2.4%

Basic Materials

13.6%
4.7%

Technology

8.8%
27.5%

Industrials

7.8%
4.7%

Consumer Cyclical

3.9%
5.6%

Consumer Defensive

3.2%
2.2%

Utilities

2.6%
1.6%

Communication Services

2.0%
4.5%

Real Estate

0.2%
1.1%

Healthcare

-

2.3%

Financial Services

XIU.TO
40.3%
XEC.TO
14.3%

Energy

XIU.TO
17.7%
XEC.TO
2.4%

Basic Materials

XIU.TO
13.6%
XEC.TO
4.7%

Technology

XIU.TO
8.8%
XEC.TO
27.5%

Industrials

XIU.TO
7.8%
XEC.TO
4.7%

Consumer Cyclical

XIU.TO
3.9%
XEC.TO
5.6%

Consumer Defensive

XIU.TO
3.2%
XEC.TO
2.2%

Utilities

XIU.TO
2.6%
XEC.TO
1.6%

Communication Services

XIU.TO
2.0%
XEC.TO
4.5%

Real Estate

XIU.TO
0.2%
XEC.TO
1.1%

Healthcare

XIU.TO

-

XEC.TO
2.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares S&P/TSX 60 Index ETF

iShares Core MSCI Emerging Markets IMI Index ETF

Often compared with XIU.TO:
XIU.TO vs. XIC.TOXIU.TO vs. ZCN.TOXIU.TO vs. XDIV.TOXIU.TO vs. XSP.TOXIU.TO vs. HXT.TOXIU.TO vs. SPYXIU.TO vs. XIT.TO
Often compared with XEC.TO:
XEC.TO vs. XEF.TOXEC.TO vs. VEE.TOXEC.TO vs. ZEM.TOXEC.TO vs. XEM.TOXEC.TO vs. XEQT.TOXEC.TO vs. VFV.TOXEC.TO vs. XIC.TO

Return for Risk

XIU.TO vs. XEC.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XIU.TO
XIU.TO Risk / Return Rank: 9191
Overall Rank
XIU.TO Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
XIU.TO Sortino Ratio Rank: 9191
Sortino Ratio Rank
XIU.TO Omega Ratio Rank: 9191
Omega Ratio Rank
XIU.TO Calmar Ratio Rank: 8888
Calmar Ratio Rank
XIU.TO Martin Ratio Rank: 9393
Martin Ratio Rank
XEC.TO
XEC.TO Risk / Return Rank: 5555
Overall Rank
XEC.TO Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
XEC.TO Sortino Ratio Rank: 4646
Sortino Ratio Rank
XEC.TO Omega Ratio Rank: 5555
Omega Ratio Rank
XEC.TO Calmar Ratio Rank: 6767
Calmar Ratio Rank
XEC.TO Martin Ratio Rank: 5959
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.

XIU.TO vs. XEC.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX 60 Index ETF (XIU.TO) and iShares Core MSCI Emerging Markets IMI Index ETF (XEC.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

XIU.TOXEC.TODifference
Sharpe ratioReturn per unit of total volatility
2.59
1.40

+1.19

Sortino ratioReturn per unit of downside risk
3.46
1.89

+1.57

Omega ratioGain probability vs. loss probability

1.47

1.27

+0.19

Calmar ratioReturn relative to maximum drawdown

4.07

2.67

+1.40

Martin ratioReturn relative to average drawdown

18.62

8.13

+10.49

XIU.TO vs. XEC.TO - Sharpe Ratio Comparison

The current XIU.TO Sharpe Ratio is 2.59, which is higher than the XEC.TO Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of XIU.TO and XEC.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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Drawdowns

XIU.TO vs. XEC.TO - Drawdown Comparison

The maximum XIU.TO drawdown since its inception was -46.98%, which is greater than XEC.TO's maximum drawdown of -32.54%. Use the drawdown chart below to compare losses from any high point for XIU.TO and XEC.TO.

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Drawdown Indicators

XIU.TOXEC.TODifference

Max Drawdown

Largest peak-to-trough decline

-46.98%

-32.54%

-14.44%

Max Drawdown (1Y)

Largest decline over 1 year

-7.65%

-11.61%

+3.96%

Max Drawdown (3Y)

Largest decline over 3 years

-12.36%

-15.07%

+2.71%

Max Drawdown (5Y)

Largest decline over 5 years

-16.36%

-28.30%

+11.94%

Max Drawdown (10Y)

Largest decline over 10 years

-35.46%

-32.54%

-2.92%

Current Drawdown

Current decline from peak

-0.28%

-11.61%

+11.33%

Average Drawdown

Average peak-to-trough decline

-6.85%

-9.53%

+2.68%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.67%

3.81%

-2.14%

Volatility

XIU.TO vs. XEC.TO - Volatility Comparison

The current volatility for iShares S&P/TSX 60 Index ETF (XIU.TO) is 1.92%, while iShares Core MSCI Emerging Markets IMI Index ETF (XEC.TO) has a volatility of 9.72%. This indicates that XIU.TO experiences smaller price fluctuations and is considered to be less risky than XEC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XIU.TOXEC.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.92%

9.72%

-7.80%

Volatility (6M)

Calculated over the trailing 6-month period

9.54%

20.29%

-10.75%

Volatility (1Y)

Calculated over the trailing 1-year period

12.04%

22.13%

-10.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.82%

16.87%

-4.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.98%

17.93%

-2.95%

XIU.TO vs. XEC.TO - Expense Ratio Comparison

XIU.TO has a 0.18% expense ratio, which is lower than XEC.TO's 0.28% expense ratio.

Dividends

XIU.TO vs. XEC.TO - Dividend Comparison

XIU.TO's dividend yield for the trailing twelve months is around 2.13%, more than XEC.TO's 1.67% yield.

PositionTTM20252024202320222021202020192018201720162015
XEC.TO
iShares Core MSCI Emerging Markets IMI Index ETF		1.67%1.92%2.03%2.15%2.19%2.78%1.64%2.87%2.66%2.13%1.80%2.19%
XIU.TO
iShares S&P/TSX 60 Index ETF		2.13%2.39%2.92%3.16%3.02%2.43%3.03%2.87%3.18%2.58%2.65%3.19%

Frequently Asked Questions

XIU.TO and XEC.TO have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XIU.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XIU.TO is cheaper with a 0.18% expense ratio, compared with 0.28% for XEC.TO.

XIU.TO is categorized as Canada Equities, while XEC.TO is Emerging Markets Equities. XIU.TO tracks S&P/TSX 60 Index, while XEC.TO tracks MSCI Emerging Markets IMI Index. Their fees differ too: 0.18% for XIU.TO and 0.28% for XEC.TO.

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