XMI.TO vs. EFAV

Last updated Apr 2, 2026

Compare and contrast key facts about iShares MSCI Min Vol EAFE Index ETF (XMI.TO) and iShares Edge MSCI Min Vol EAFE ETF (EFAV).

XMI.TO and EFAV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XMI.TO is a passively managed fund by iShares that tracks the performance of the MSCI EAFE Minimum Volatility Index. It was launched on Jul 24, 2012. EFAV is a passively managed fund by iShares that tracks the performance of the MSCI EAFE Minimum Volatility Index. It was launched on Oct 18, 2011. Both XMI.TO and EFAV 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

XMI.TO vs. EFAV - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI Min Vol EAFE Index ETF (XMI.TO) and iShares Edge MSCI Min Vol EAFE ETF (EFAV). The values are adjusted to include any dividend payments, if applicable.

XMI.TO vs. EFAV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XMI.TO iShares MSCI Min Vol EAFE Index ETF	7.71%	19.69%	13.51%	9.32%	-10.50%	7.01%	-2.02%	9.84%	1.70%	13.74%
EFAV iShares Edge MSCI Min Vol EAFE ETF	7.91%	20.22%	14.35%	10.04%	-9.06%	6.23%	-1.75%	10.94%	2.25%	14.46%

Different Trading Currencies

XMI.TO is traded in CAD, while EFAV is traded in USD. To make them comparable, the EFAV values have been converted to CAD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with XMI.TO having a 7.71% return and EFAV slightly higher at 7.91%. Over the past 10 years, XMI.TO has underperformed EFAV with an annualized return of 6.56%, while EFAV has yielded a comparatively higher 7.23% annualized return.

XMI.TO

• 1D: 0.37%
• 1M: -0.12%
• YTD: 7.71%
• 6M: 8.48%
• 1Y: 17.46%
• 3Y*: 14.67%
• 5Y*: 9.15%
• 10Y*: 6.56%

EFAV

• 1D: 0.45%
• 1M: 0.01%
• YTD: 7.91%
• 6M: 9.02%
• 1Y: 18.23%
• 3Y*: 15.41%
• 5Y*: 9.88%
• 10Y*: 7.23%

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

XMI.TO vs. EFAV - Expense Ratio Comparison

XMI.TO has a 0.40% expense ratio, which is higher than EFAV's 0.20% expense ratio.

XMI.TO

iShares MSCI Min Vol EAFE Index ETF

EFAV

iShares Edge MSCI Min Vol EAFE ETF

Return for Risk

XMI.TO vs. EFAV — Risk / Return Rank

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

XMI.TO

XMI.TO Risk / Return Rank: 78
XMI.TO Sharpe Ratio Rank: 79
XMI.TO Sortino Ratio Rank: 77
XMI.TO Omega Ratio Rank: 76
XMI.TO Calmar Ratio Rank: 82
XMI.TO Martin Ratio Rank: 79

EFAV

EFAV Risk / Return Rank: 87
EFAV Sharpe Ratio Rank: 85
EFAV Sortino Ratio Rank: 86
EFAV Omega Ratio Rank: 84
EFAV Calmar Ratio Rank: 89
EFAV Martin Ratio Rank: 88

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.

XMI.TO vs. EFAV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Min Vol EAFE Index ETF (XMI.TO) and iShares Edge MSCI Min Vol EAFE ETF (EFAV). 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.

	XMI.TO	EFAV	Difference
Sharpe ratio Return per unit of total volatility	1.52	1.71	-0.19
Sortino ratio Return per unit of downside risk	2.03	2.27	-0.23
Omega ratio Gain probability vs. loss probability	1.30	1.33	-0.03
Calmar ratio Return relative to maximum drawdown	2.48	2.60	-0.12
Martin ratio Return relative to average drawdown	9.21	9.99	-0.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XMI.TO vs. EFAV - Sharpe Ratio Comparison

The current XMI.TO Sharpe Ratio is 1.52, which is comparable to the EFAV Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of XMI.TO and EFAV, 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

	XMI.TO	EFAV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	1.71	-0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	1.05	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.64	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.86	-0.05

Correlation

The correlation between XMI.TO and EFAV is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XMI.TO vs. EFAV - Dividend Comparison

XMI.TO's dividend yield for the trailing twelve months is around 2.50%, less than EFAV's 3.00% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XMI.TO iShares MSCI Min Vol EAFE Index ETF	2.50%	2.69%	2.64%	2.56%	1.99%	1.93%	1.16%	3.74%	2.92%	2.07%	3.29%	2.02%
EFAV iShares Edge MSCI Min Vol EAFE ETF	3.00%	3.20%	3.24%	3.08%	2.53%	2.47%	1.33%	4.19%	3.34%	2.45%	3.94%	2.49%

Drawdowns

XMI.TO vs. EFAV - Drawdown Comparison

The maximum XMI.TO drawdown since its inception was -23.08%, roughly equal to the maximum EFAV drawdown of -23.19%. Use the drawdown chart below to compare losses from any high point for XMI.TO and EFAV.

Drawdown Indicators

	XMI.TO	EFAV	Difference
Max Drawdown Largest peak-to-trough decline	-23.08%	-27.56%	+4.48%
Max Drawdown (1Y) Largest decline over 1 year	-6.78%	-7.14%	+0.36%
Max Drawdown (5Y) Largest decline over 5 years	-21.18%	-27.46%	+6.28%
Max Drawdown (10Y) Largest decline over 10 years	-23.08%	-27.56%	+4.48%
Current Drawdown Current decline from peak	-1.40%	-3.12%	+1.72%
Average Drawdown Average peak-to-trough decline	-4.06%	-4.78%	+0.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.83%	1.95%	-0.12%

Volatility

XMI.TO vs. EFAV - Volatility Comparison

iShares MSCI Min Vol EAFE Index ETF (XMI.TO) and iShares Edge MSCI Min Vol EAFE ETF (EFAV) have volatilities of 4.80% and 4.67%, 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.

Volatility by Period

	XMI.TO	EFAV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.80%	4.67%	+0.13%
Volatility (6M) Calculated over the trailing 6-month period	7.77%	7.25%	+0.52%
Volatility (1Y) Calculated over the trailing 1-year period	11.58%	10.74%	+0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.83%	9.50%	+0.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.46%	11.29%	+0.17%