XMI.TO vs. FLVI.NEO

Last updated Jul 25, 2026

XMI.TO (iShares MSCI Min Vol EAFE Index ETF) and FLVI.NEO (Franklin International Low Volatility High Dividend Index ETF) are both Foreign Large Cap Equities funds - XMI.TO tracks the MSCI EAFE Minimum Volatility Index while FLVI.NEO tracks the Franklin International ex North America Low Volatility High Dividend Index. Both are passively managed. Over the past year, XMI.TO returned 14.17% vs 24.31% for FLVI.NEO. A 0.57 correlation means they provide meaningful diversification when combined.

Performance

XMI.TO vs. FLVI.NEO - 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 Franklin International Low Volatility High Dividend Index ETF (FLVI.NEO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XMI.TO achieves a 9.90% return, which is significantly lower than FLVI.NEO's 13.39% return.

XMI.TO

• 1D: 1.23%
• 1M: 3.55%
• 6M: 7.91%
• YTD: 9.90%
• 1Y: 14.17%
• 3Y*: 15.24%
• 5Y*: 8.34%
• 10Y*: 6.30%
• ALL TIME*: 9.10%

FLVI.NEO

• 1D: 0.80%
• 1M: 2.65%
• 6M: 9.71%
• YTD: 13.39%
• 1Y: 24.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 24.25%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FLVI.NEO Franklin International Low Volatility High Dividend Index ETF	CA$892.41K	CA$896.97K	CA$983.05K
XMI.TO iShares MSCI Min Vol EAFE Index ETF	CA$47.75K	CA$79.69K	CA$218.68K

XMI.TO vs. FLVI.NEO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XMI.TO iShares MSCI Min Vol EAFE Index ETF	9.90%	19.69%	7.98%
FLVI.NEO Franklin International Low Volatility High Dividend Index ETF	13.39%	33.34%	9.70%

Correlation

The correlation between XMI.TO and FLVI.NEO is 0.67, 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	0.67
Correlation (All Time) Calculated using the full available price history since Mar 25, 2024	0.57

The correlation between XMI.TO and FLVI.NEO shifts across timeframes, from 0.57 (all time) to 0.67 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

XMI.TO vs. FLVI.NEO — 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: 60
XMI.TO Sharpe Ratio Rank: 59
XMI.TO Sortino Ratio Rank: 57
XMI.TO Omega Ratio Rank: 60
XMI.TO Calmar Ratio Rank: 66
XMI.TO Martin Ratio Rank: 57

FLVI.NEO

FLVI.NEO Risk / Return Rank: 89
FLVI.NEO Sharpe Ratio Rank: 93
FLVI.NEO Sortino Ratio Rank: 92
FLVI.NEO Omega Ratio Rank: 92
FLVI.NEO Calmar Ratio Rank: 83
FLVI.NEO Martin Ratio Rank: 85

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. FLVI.NEO - 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 Franklin International Low Volatility High Dividend Index ETF (FLVI.NEO). 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.

	XMI.TO	FLVI.NEO	Difference
Sharpe ratio: Return per unit of total volatility	1.37	2.43	-1.05
Sortino ratio: Return per unit of downside risk	1.95	3.38	-1.43
Omega ratio: Gain probability vs. loss probability	1.26	1.45	-0.19
Calmar ratio: Return relative to maximum drawdown	2.33	3.18	-0.86
Martin ratio: Return relative to average drawdown	6.63	11.89	-5.26

XMI.TO vs. FLVI.NEO - Sharpe Ratio Comparison

The current XMI.TO Sharpe Ratio is 1.37, which is lower than the FLVI.NEO Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of XMI.TO and FLVI.NEO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XMI.TO vs. FLVI.NEO - Drawdown Comparison

The maximum XMI.TO drawdown since its inception was -23.08%, which is greater than FLVI.NEO's maximum drawdown of -11.90%. Use the drawdown chart below to compare losses from any high point for XMI.TO and FLVI.NEO.

Drawdown Indicators

	XMI.TO	FLVI.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-23.08%	-11.90%	-11.18%
Max Drawdown (1Y) Largest decline over 1 year	-6.12%	-7.71%	+1.59%
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	0.00%	-0.46%	+0.46%
Average Drawdown Average peak-to-trough decline	-4.02%	-1.52%	-2.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	2.05%	+0.09%

Volatility

XMI.TO vs. FLVI.NEO - Volatility Comparison

iShares MSCI Min Vol EAFE Index ETF (XMI.TO) has a higher volatility of 2.80% compared to Franklin International Low Volatility High Dividend Index ETF (FLVI.NEO) at 2.44%. This indicates that XMI.TO's price experiences larger fluctuations and is considered to be riskier than FLVI.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XMI.TO	FLVI.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.80%	2.44%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	8.27%	8.09%	+0.18%
Volatility (1Y) Calculated over the trailing 1-year period	10.37%	10.11%	+0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.92%	12.65%	-2.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.36%	12.65%	-1.29%

Dividends

XMI.TO vs. FLVI.NEO - Dividend Comparison

XMI.TO's dividend yield for the trailing twelve months is around 2.60%, less than FLVI.NEO's 2.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLVI.NEO Franklin International Low Volatility High Dividend Index ETF	2.75%	3.07%	3.84%	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	2.60%	2.69%	2.64%	2.56%	1.98%	1.93%	1.16%	3.74%	2.93%	2.07%	3.29%	2.02%

Frequently Asked Questions

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

XMI.TO and FLVI.NEO have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between XMI.TO and FLVI.NEO?

XMI.TO tracks MSCI EAFE Minimum Volatility Index, while FLVI.NEO tracks Franklin International ex North America Low Volatility High Dividend Index. They also come from different issuers: iShares and Franklin Templeton.