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

XMI.TO vs. XMD.TO

Last updated Apr 1, 2026

Compare and contrast key facts about iShares MSCI Min Vol EAFE Index ETF (XMI.TO) and iShares S&P/TSX Completion Index ETF (XMD.TO).

XMI.TO and XMD.TO 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. XMD.TO is a passively managed fund by iShares that tracks the performance of the Morningstar Canada Sml GR CAD. It was launched on Mar 2, 2001. Both XMI.TO and XMD.TO 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. XMD.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 S&P/TSX Completion Index ETF (XMD.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)202520242023202220212020201920182017
XMI.TO
iShares MSCI Min Vol EAFE Index ETF		7.31%19.69%13.51%9.32%-10.50%7.01%-2.02%9.84%1.70%13.74%
XMD.TO
iShares S&P/TSX Completion Index ETF		7.32%41.38%23.55%10.01%-4.90%13.78%6.05%26.03%-13.07%6.17%

Returns By Period

The year-to-date returns for both investments are quite close, with XMI.TO having a 7.31% return and XMD.TO slightly higher at 7.32%. Over the past 10 years, XMI.TO has underperformed XMD.TO with an annualized return of 6.53%, while XMD.TO has yielded a comparatively higher 12.14% annualized return.

XMI.TO

1D
1.29%
1M
-1.77%
YTD
7.31%
6M
9.28%
1Y
16.40%
3Y*
14.53%
5Y*
9.07%
10Y*
6.53%

XMD.TO

1D
4.07%
1M
-8.77%
YTD
7.32%
6M
15.79%
1Y
51.11%
3Y*
24.72%
5Y*
15.89%
10Y*
12.14%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Min Vol EAFE Index ETF

iShares S&P/TSX Completion Index ETF

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Often compared with XMD.TO:
XMD.TO vs. XCS.TOXMD.TO vs. XIU.TOXMD.TO vs. CGL-C.TOXMD.TO vs. VFV.TOXMD.TO vs. XCSR.TOXMD.TO vs. XCG.TOXMD.TO vs. VUN.TO

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

XMI.TO has a 0.40% expense ratio, which is lower than XMD.TO's 0.60% expense ratio.

XMD.TO
iShares S&P/TSX Completion Index ETF
XMI.TO
iShares MSCI Min Vol EAFE Index ETF

Return for Risk

XMI.TO vs. XMD.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: 7878
Overall Rank
XMI.TO Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
XMI.TO Sortino Ratio Rank: 7676
Sortino Ratio Rank
XMI.TO Omega Ratio Rank: 7575
Omega Ratio Rank
XMI.TO Calmar Ratio Rank: 8282
Calmar Ratio Rank
XMI.TO Martin Ratio Rank: 8181
Martin Ratio Rank
XMD.TO
XMD.TO Risk / Return Rank: 9494
Overall Rank
XMD.TO Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
XMD.TO Sortino Ratio Rank: 9494
Sortino Ratio Rank
XMD.TO Omega Ratio Rank: 9696
Omega Ratio Rank
XMD.TO Calmar Ratio Rank: 9393
Calmar Ratio Rank
XMD.TO Martin Ratio Rank: 9494
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. XMD.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 S&P/TSX Completion Index ETF (XMD.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.TOXMD.TODifference

Sharpe ratio

Return per unit of total volatility

1.42

2.45

-1.03

Sortino ratio

Return per unit of downside risk

1.92

2.93

-1.01

Omega ratio

Gain probability vs. loss probability

1.28

1.48

-0.20

Calmar ratio

Return relative to maximum drawdown

2.28

3.42

-1.14

Martin ratio

Return relative to average drawdown

8.83

14.24

-5.41

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. XMD.TO - Sharpe Ratio Comparison

The current XMI.TO Sharpe Ratio is 1.42, which is lower than the XMD.TO Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of XMI.TO and XMD.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

XMI.TOXMD.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.42

2.45

-1.03

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.93

0.98

-0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.57

0.73

-0.15

Sharpe Ratio (All Time)

Calculated using the full available price history

0.81

0.54

+0.27

Correlation

The correlation between XMI.TO and XMD.TO is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

XMI.TO vs. XMD.TO - Dividend Comparison

XMI.TO's dividend yield for the trailing twelve months is around 2.51%, more than XMD.TO's 0.87% yield.

TTM20252024202320222021202020192018201720162015
XMI.TO
iShares MSCI Min Vol EAFE Index ETF		2.51%2.69%2.64%2.56%1.99%1.93%1.16%3.74%2.92%2.07%3.29%2.02%
XMD.TO
iShares S&P/TSX Completion Index ETF		0.87%0.97%1.58%1.91%2.24%1.17%1.91%2.55%2.44%1.76%1.97%2.34%

Drawdowns

XMI.TO vs. XMD.TO - Drawdown Comparison

The maximum XMI.TO drawdown since its inception was -23.08%, smaller than the maximum XMD.TO drawdown of -53.42%. Use the drawdown chart below to compare losses from any high point for XMI.TO and XMD.TO.

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Drawdown Indicators

XMI.TOXMD.TODifference

Max Drawdown

Largest peak-to-trough decline

-23.08%

-53.42%

+30.34%

Max Drawdown (1Y)

Largest decline over 1 year

-6.78%

-15.12%

+8.34%

Max Drawdown (5Y)

Largest decline over 5 years

-21.18%

-18.16%

-3.02%

Max Drawdown (10Y)

Largest decline over 10 years

-23.08%

-43.40%

+20.32%

Current Drawdown

Current decline from peak

-1.77%

-8.84%

+7.07%

Average Drawdown

Average peak-to-trough decline

-4.06%

-8.21%

+4.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.86%

3.63%

-1.77%

Volatility

XMI.TO vs. XMD.TO - Volatility Comparison

The current volatility for iShares MSCI Min Vol EAFE Index ETF (XMI.TO) is 5.20%, while iShares S&P/TSX Completion Index ETF (XMD.TO) has a volatility of 8.82%. This indicates that XMI.TO experiences smaller price fluctuations and is considered to be less risky than XMD.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.TOXMD.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.20%

8.82%

-3.62%

Volatility (6M)

Calculated over the trailing 6-month period

7.77%

16.94%

-9.17%

Volatility (1Y)

Calculated over the trailing 1-year period

11.58%

20.98%

-9.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.83%

16.38%

-6.55%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.46%

16.82%

-5.36%