XMI.TO vs. FGEP.TO

Last updated Jun 4, 2026

XMI.TO (iShares MSCI Min Vol EAFE Index ETF) and FGEP.TO (Fidelity Global Equity+ Fund ETF) are both Global Equities funds. XMI.TO is passively managed, while FGEP.TO is actively managed. Over the past year, XMI.TO returned 10.07% vs 33.16% for FGEP.TO. At a 0.45 correlation, their price movements are largely independent. XMI.TO charges 0.40%/yr vs 1.16%/yr for FGEP.TO.

Performance

XMI.TO vs. FGEP.TO - 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 Fidelity Global Equity+ Fund ETF (FGEP.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XMI.TO achieves a 5.02% return, which is significantly lower than FGEP.TO's 16.78% return.

XMI.TO

• 1D: -0.21%
• 1M: 1.00%
• YTD: 5.02%
• 6M: 4.57%
• 1Y: 10.07%
• 3Y*: 13.52%
• 5Y*: 8.54%
• 10Y*: 6.04%

FGEP.TO

• 1D: -0.40%
• 1M: 6.04%
• YTD: 16.78%
• 6M: 17.33%
• 1Y: 33.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XMI.TO vs. FGEP.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XMI.TO iShares MSCI Min Vol EAFE Index ETF	5.02%	19.69%	6.11%
FGEP.TO Fidelity Global Equity+ Fund ETF	16.78%	17.44%	9.99%

Correlation

The correlation between XMI.TO and FGEP.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 (All Time) Calculated using the full available price history since May 23, 2024	0.45

The correlation between XMI.TO and FGEP.TO has been stable across timeframes, ranging from 0.45 to 0.51 - a consistent structural relationship.

Return for Risk

XMI.TO vs. FGEP.TO — 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: 29
XMI.TO Sharpe Ratio Rank: 26
XMI.TO Sortino Ratio Rank: 25
XMI.TO Omega Ratio Rank: 27
XMI.TO Calmar Ratio Rank: 33
XMI.TO Martin Ratio Rank: 33

FGEP.TO

FGEP.TO Risk / Return Rank: 89
FGEP.TO Sharpe Ratio Rank: 91
FGEP.TO Sortino Ratio Rank: 91
FGEP.TO Omega Ratio Rank: 91
FGEP.TO Calmar Ratio Rank: 85
FGEP.TO Martin Ratio Rank: 89

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. FGEP.TO - 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 Fidelity Global Equity+ Fund ETF (FGEP.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.

	XMI.TO	FGEP.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.97	3.19	-2.22
Sortino ratio: Return per unit of downside risk	1.37	4.40	-3.03
Omega ratio: Gain probability vs. loss probability	1.18	1.61	-0.42
Calmar ratio: Return relative to maximum drawdown	1.65	4.67	-3.01
Martin ratio: Return relative to average drawdown	4.94	19.65	-14.70
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. FGEP.TO - Sharpe Ratio Comparison

The current XMI.TO Sharpe Ratio is 0.97, which is lower than the FGEP.TO Sharpe Ratio of 3.19. The chart below compares the historical Sharpe Ratios of XMI.TO and FGEP.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.

Sharpe Ratios by Period

	XMI.TO	FGEP.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.97	3.19	-2.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	1.78	-0.99

Drawdowns

XMI.TO vs. FGEP.TO - Drawdown Comparison

The maximum XMI.TO drawdown since its inception was -23.08%, which is greater than FGEP.TO's maximum drawdown of -14.78%. Use the drawdown chart below to compare losses from any high point for XMI.TO and FGEP.TO.

Drawdown Indicators

	XMI.TO	FGEP.TO	Difference
Max Drawdown Largest peak-to-trough decline	-23.08%	-14.78%	-8.30%
Max Drawdown (1Y) Largest decline over 1 year	-6.12%	-7.14%	+1.02%
Max Drawdown (3Y) Largest decline over 3 years	-7.97%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.18%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-23.08%	—	—
Current Drawdown Current decline from peak	-3.90%	-0.66%	-3.24%
Average Drawdown Average peak-to-trough decline	-4.04%	-1.64%	-2.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	1.69%	+0.35%

Volatility

XMI.TO vs. FGEP.TO - Volatility Comparison

The current volatility for iShares MSCI Min Vol EAFE Index ETF (XMI.TO) is 3.28%, while Fidelity Global Equity+ Fund ETF (FGEP.TO) has a volatility of 3.81%. This indicates that XMI.TO experiences smaller price fluctuations and is considered to be less risky than FGEP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XMI.TO	FGEP.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.28%	3.81%	-0.53%
Volatility (6M) Calculated over the trailing 6-month period	8.21%	8.34%	-0.13%
Volatility (1Y) Calculated over the trailing 1-year period	10.47%	10.47%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.87%	12.70%	-2.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.48%	12.70%	-1.22%

XMI.TO vs. FGEP.TO - Expense Ratio Comparison

XMI.TO has a 0.40% expense ratio, which is lower than FGEP.TO's 1.16% expense ratio.

Dividends

XMI.TO vs. FGEP.TO - Dividend Comparison

XMI.TO's dividend yield for the trailing twelve months is around 2.56%, while FGEP.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGEP.TO Fidelity Global Equity+ Fund ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XMI.TO iShares MSCI Min Vol EAFE Index ETF	2.56%	2.69%	2.64%	2.56%	1.99%	1.93%	1.16%	3.74%	2.92%	2.07%	3.29%	2.02%

Frequently Asked Questions

Can I hold both XMI.TO and FGEP.TO in my portfolio?

XMI.TO and FGEP.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.

Which ETF is better, XMI.TO or FGEP.TO?

On fees, XMI.TO is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XMI.TO or FGEP.TO?

XMI.TO is cheaper with a 0.40% expense ratio, compared with 1.16% for FGEP.TO.

What is the main difference between XMI.TO and FGEP.TO?

They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.40% for XMI.TO and 1.16% for FGEP.TO.