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XMI.TO vs. XSEM.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMI.TO vs. XSEM.TO

Last updated Jul 1, 2026
See Documentation

XMI.TO (iShares MSCI Min Vol EAFE Index ETF) and XSEM.TO (iShares ESG Aware MSCI Emerging Markets Index ETF) are both exchange-traded funds - XMI.TO is a Global Equities fund tracking the MSCI EAFE Minimum Volatility Index, while XSEM.TO is a Emerging Markets Equities fund tracking the Morningstar EM GR CAD. Both are passively managed. Over the past 5 years, XMI.TO returned 8.37%/yr vs 8.49%/yr for XSEM.TO. At a 0.38 correlation, their price movements are largely independent. XMI.TO charges 0.40%/yr vs 0.32%/yr for XSEM.TO.

Performance

XMI.TO vs. XSEM.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 iShares ESG Aware MSCI Emerging Markets Index ETF (XSEM.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, XMI.TO achieves a 6.56% return, which is significantly lower than XSEM.TO's 26.64% return.

XMI.TO

1D
-0.61%
1M
0.53%
YTD
6.56%
6M
5.16%
1Y
11.28%
3Y*
14.50%
5Y*
8.37%
10Y*
6.32%

XSEM.TO

1D
1.35%
1M
3.63%
YTD
26.64%
6M
25.90%
1Y
44.41%
3Y*
24.23%
5Y*
8.49%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022202120202019
XMI.TO
iShares MSCI Min Vol EAFE Index ETF		6.56%19.69%13.51%9.32%-10.50%7.01%-2.02%3.26%
XSEM.TO
iShares ESG Aware MSCI Emerging Markets Index ETF		26.64%27.51%14.79%7.01%-17.30%-3.60%15.64%5.18%

Correlation

The correlation between XMI.TO and XSEM.TO is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.34

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

0.36

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

0.38

Correlation (All Time)
Calculated using the full available price history since Mar 22, 2019

0.38

XMI.TO vs. XSEM.TO - Sectors Allocation Comparison

Sectors
XMI.TO
XSEM.TO

Financial Services

19.4%
22.1%

Industrials

15.9%
5.2%

Healthcare

12.0%
2.5%

Consumer Defensive

11.9%
2.0%

Communication Services

9.6%
7.4%

Utilities

8.8%
1.3%

Energy

8.3%
1.9%

Consumer Cyclical

5.0%
7.6%

Technology

4.6%
44.1%

Real Estate

3.0%
1.0%

Basic Materials

1.5%
4.8%

Financial Services

XMI.TO
19.4%
XSEM.TO
22.1%

Industrials

XMI.TO
15.9%
XSEM.TO
5.2%

Healthcare

XMI.TO
12.0%
XSEM.TO
2.5%

Consumer Defensive

XMI.TO
11.9%
XSEM.TO
2.0%

Communication Services

XMI.TO
9.6%
XSEM.TO
7.4%

Utilities

XMI.TO
8.8%
XSEM.TO
1.3%

Energy

XMI.TO
8.3%
XSEM.TO
1.9%

Consumer Cyclical

XMI.TO
5.0%
XSEM.TO
7.6%

Technology

XMI.TO
4.6%
XSEM.TO
44.1%

Real Estate

XMI.TO
3.0%
XSEM.TO
1.0%

Basic Materials

XMI.TO
1.5%
XSEM.TO
4.8%

Compare stocks, funds, or ETFs

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iShares MSCI Min Vol EAFE Index ETF

iShares ESG Aware MSCI Emerging Markets Index ETF

Often compared with XMI.TO:
XMI.TO vs. XMV.TOXMI.TO vs. ZLB.TOXMI.TO vs. XMU.TOXMI.TO vs. EFAVXMI.TO vs. XEF.TOXMI.TO vs. XMW.TOXMI.TO vs. XUU.TO
Often compared with XSEM.TO:
XSEM.TO vs. XDSR.TOXSEM.TO vs. XEC.TOXSEM.TO vs. XMM.TOXSEM.TO vs. XEQT.TOXSEM.TO vs. XEF.TOXSEM.TO vs. VE.TOXSEM.TO vs. ZEM.TO

Return for Risk

XMI.TO vs. XSEM.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: 3636
Overall Rank
XMI.TO Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
XMI.TO Sortino Ratio Rank: 3232
Sortino Ratio Rank
XMI.TO Omega Ratio Rank: 3333
Omega Ratio Rank
XMI.TO Calmar Ratio Rank: 4242
Calmar Ratio Rank
XMI.TO Martin Ratio Rank: 3838
Martin Ratio Rank
XSEM.TO
XSEM.TO Risk / Return Rank: 7575
Overall Rank
XSEM.TO Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
XSEM.TO Sortino Ratio Rank: 6767
Sortino Ratio Rank
XSEM.TO Omega Ratio Rank: 7676
Omega Ratio Rank
XSEM.TO Calmar Ratio Rank: 8181
Calmar Ratio Rank
XSEM.TO Martin Ratio Rank: 7777
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.

XMI.TO vs. XSEM.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 ESG Aware MSCI Emerging Markets Index ETF (XSEM.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.

XMI.TOXSEM.TODifference
Sharpe ratioReturn per unit of total volatility
1.11
2.01

-0.91

Sortino ratioReturn per unit of downside risk
1.57
2.61

-1.03

Omega ratioGain probability vs. loss probability

1.21

1.38

-0.17

Calmar ratioReturn relative to maximum drawdown

1.85

3.63

-1.78

Martin ratioReturn relative to average drawdown

5.27

12.39

-7.11

XMI.TO vs. XSEM.TO - Sharpe Ratio Comparison

The current XMI.TO Sharpe Ratio is 1.11, which is lower than the XSEM.TO Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of XMI.TO and XSEM.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

XMI.TO vs. XSEM.TO - Drawdown Comparison

The maximum XMI.TO drawdown since its inception was -23.08%, smaller than the maximum XSEM.TO drawdown of -37.09%. Use the drawdown chart below to compare losses from any high point for XMI.TO and XSEM.TO.

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Drawdown Indicators

XMI.TOXSEM.TODifference

Max Drawdown

Largest peak-to-trough decline

-23.08%

-37.09%

+14.01%

Max Drawdown (1Y)

Largest decline over 1 year

-6.12%

-12.30%

+6.18%

Max Drawdown (3Y)

Largest decline over 3 years

-7.97%

-15.18%

+7.21%

Max Drawdown (5Y)

Largest decline over 5 years

-21.18%

-32.59%

+11.41%

Max Drawdown (10Y)

Largest decline over 10 years

-23.08%

—

—

Current Drawdown

Current decline from peak

-2.49%

-3.35%

+0.86%

Average Drawdown

Average peak-to-trough decline

-4.03%

-13.11%

+9.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.15%

3.60%

-1.45%

Volatility

XMI.TO vs. XSEM.TO - Volatility Comparison

The current volatility for iShares MSCI Min Vol EAFE Index ETF (XMI.TO) is 2.80%, while iShares ESG Aware MSCI Emerging Markets Index ETF (XSEM.TO) has a volatility of 11.58%. This indicates that XMI.TO experiences smaller price fluctuations and is considered to be less risky than XSEM.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.TOXSEM.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.80%

11.58%

-8.78%

Volatility (6M)

Calculated over the trailing 6-month period

8.26%

20.09%

-11.83%

Volatility (1Y)

Calculated over the trailing 1-year period

10.25%

22.17%

-11.92%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.90%

17.76%

-7.86%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.36%

18.65%

-7.29%

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

XMI.TO has a 0.40% expense ratio, which is higher than XSEM.TO's 0.32% expense ratio.

Dividends

XMI.TO vs. XSEM.TO - Dividend Comparison

XMI.TO's dividend yield for the trailing twelve months is around 2.68%, more than XSEM.TO's 1.48% yield.

PositionTTM20252024202320222021202020192018201720162015
XMI.TO
iShares MSCI Min Vol EAFE Index ETF		2.68%2.69%2.64%2.56%1.98%1.93%1.16%3.74%2.93%2.07%3.29%2.02%
XSEM.TO
iShares ESG Aware MSCI Emerging Markets Index ETF		1.48%1.78%2.08%1.10%2.25%2.45%1.14%2.41%0.00%0.00%0.00%0.00%

Frequently Asked Questions

XMI.TO and XSEM.TO have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XSEM.TO is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XSEM.TO is cheaper with a 0.32% expense ratio, compared with 0.40% for XMI.TO.

XMI.TO is categorized as Global Equities, while XSEM.TO is Emerging Markets Equities. XMI.TO tracks MSCI EAFE Minimum Volatility Index, while XSEM.TO tracks Morningstar EM GR CAD. Their fees differ too: 0.40% for XMI.TO and 0.32% for XSEM.TO.

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