XMI.TO vs. XFH.TO
XMI.TO (iShares MSCI Min Vol EAFE Index ETF) and XFH.TO (iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged)) are both Global Equities funds from iShares - XMI.TO tracks the MSCI EAFE Minimum Volatility Index while XFH.TO tracks the Morningstar DM xNA GR CAD. Both are passively managed. Over the past 10 years, XMI.TO returned 6.04%/yr vs 10.13%/yr for XFH.TO. A 0.52 correlation means they provide meaningful diversification when combined. XMI.TO charges 0.40%/yr vs 0.22%/yr for XFH.TO.
Performance
XMI.TO vs. XFH.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XMI.TO achieves a 5.02% return, which is significantly lower than XFH.TO's 9.22% return. Over the past 10 years, XMI.TO has underperformed XFH.TO with an annualized return of 6.04%, while XFH.TO has yielded a comparatively higher 10.13% annualized 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%
XFH.TO
- 1D
- -0.46%
- 1M
- 4.38%
- YTD
- 9.22%
- 6M
- 11.32%
- 1Y
- 22.60%
- 3Y*
- 16.07%
- 5Y*
- 10.16%
- 10Y*
- 10.13%
XMI.TO vs. XFH.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XMI.TO iShares MSCI Min Vol EAFE Index ETF | 5.02% | 19.69% | 13.51% | 9.32% | -10.50% | 7.01% | -2.02% | 9.84% | 1.70% | 13.74% |
XFH.TO iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged) | 9.22% | 21.68% | 11.68% | 18.28% | -6.60% | 12.13% | 0.84% | 23.05% | -10.97% | 17.50% |
Correlation
The correlation between XMI.TO and XFH.TO is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2015 | 0.52 |
The correlation between XMI.TO and XFH.TO has been stable across timeframes, ranging from 0.52 to 0.60 - a consistent structural relationship.
XMI.TO vs. XFH.TO - Sectors Allocation Comparison
Sectors
XMI.TO
XFH.TO
Financial Services
Industrials
Healthcare
Consumer Defensive
Communication Services
Utilities
Energy
Consumer Cyclical
Technology
Real Estate
Basic Materials
Financial Services
XMI.TO
XFH.TO
Industrials
XMI.TO
XFH.TO
Healthcare
XMI.TO
XFH.TO
Consumer Defensive
XMI.TO
XFH.TO
Communication Services
XMI.TO
XFH.TO
Utilities
XMI.TO
XFH.TO
Energy
XMI.TO
XFH.TO
Consumer Cyclical
XMI.TO
XFH.TO
Technology
XMI.TO
XFH.TO
Real Estate
XMI.TO
XFH.TO
Basic Materials
XMI.TO
XFH.TO
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Return for Risk
XMI.TO vs. XFH.TO — Risk / Return Rank
XMI.TO
XFH.TO
XMI.TO vs. XFH.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 iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged) (XFH.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 | XFH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.36 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 2.36 | -0.70 |
| Martin ratioReturn relative to average drawdown | 4.94 | 9.71 | -4.77 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XMI.TO | XFH.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 1.89 | -0.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.87 | 0.73 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.63 | -0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.78 | 0.50 | +0.28 |
Drawdowns
XMI.TO vs. XFH.TO - Drawdown Comparison
The maximum XMI.TO drawdown since its inception was -23.08%, smaller than the maximum XFH.TO drawdown of -33.85%. Use the drawdown chart below to compare losses from any high point for XMI.TO and XFH.TO.
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Drawdown Indicators
| XMI.TO | XFH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.08% | -33.85% | +10.77% |
Max Drawdown (1Y)Largest decline over 1 year | -6.12% | -9.63% | +3.51% |
Max Drawdown (3Y)Largest decline over 3 years | -7.97% | -14.14% | +6.17% |
Max Drawdown (5Y)Largest decline over 5 years | -21.18% | -20.59% | -0.59% |
Max Drawdown (10Y)Largest decline over 10 years | -23.08% | -33.85% | +10.77% |
Current DrawdownCurrent decline from peak | -3.90% | -1.29% | -2.61% |
Average DrawdownAverage peak-to-trough decline | -4.04% | -5.61% | +1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 2.33% | -0.29% |
Volatility
XMI.TO vs. XFH.TO - Volatility Comparison
The current volatility for iShares MSCI Min Vol EAFE Index ETF (XMI.TO) is 3.28%, while iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged) (XFH.TO) has a volatility of 4.08%. This indicates that XMI.TO experiences smaller price fluctuations and is considered to be less risky than XFH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XMI.TO | XFH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.28% | 4.08% | -0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 8.21% | 9.85% | -1.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.47% | 12.00% | -1.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.87% | 14.03% | -4.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.48% | 16.16% | -4.68% |
XMI.TO vs. XFH.TO - Expense Ratio Comparison
XMI.TO has a 0.40% expense ratio, which is higher than XFH.TO's 0.22% expense ratio.
Dividends
XMI.TO vs. XFH.TO - Dividend Comparison
XMI.TO's dividend yield for the trailing twelve months is around 2.56%, more than XFH.TO's 1.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XFH.TO iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged) | 1.98% | 2.16% | 2.47% | 2.91% | 2.91% | 2.29% | 1.73% | 2.43% | 2.66% | 2.11% | 2.03% | 2.45% |
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
XMI.TO and XFH.TO have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XFH.TO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XFH.TO is cheaper with a 0.22% expense ratio, compared with 0.40% for XMI.TO.
XMI.TO tracks MSCI EAFE Minimum Volatility Index, while XFH.TO tracks Morningstar DM xNA GR CAD. Their fees differ too: 0.40% for XMI.TO and 0.22% for XFH.TO.
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