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XML.TO vs. FINN.NEO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XML.TO vs. FINN.NEO

Last updated Jul 18, 2026
Documentation

XML.TO (iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged)) and FINN.NEO (Fidelity Global Innovators ETF) are both Global Equities funds. XML.TO is passively managed, while FINN.NEO is actively managed. Over the past 3 years, XML.TO returned 14.68%/yr vs 40.06%/yr for FINN.NEO. At a 0.15 correlation, their price movements are largely independent. XML.TO charges 0.40%/yr vs 1.09%/yr for FINN.NEO.

Performance

XML.TO vs. FINN.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged) (XML.TO) and Fidelity Global Innovators ETF (FINN.NEO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XML.TO achieves a 8.48% return, which is significantly lower than FINN.NEO's 35.77% return.

XML.TO

1D
1.06%
1M
4.33%
6M
6.75%
YTD
8.48%
1Y
15.37%
3Y*
14.68%
5Y*
9.54%
10Y*
7.46%

FINN.NEO

1D
-1.71%
1M
-3.34%
6M
28.06%
YTD
35.77%
1Y
49.48%
3Y*
40.06%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XML.TO vs. FINN.NEO - Yearly Performance Comparison

2026 (YTD)202520242023
XML.TO
iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged)		8.48%17.56%14.13%1.22%
FINN.NEO
Fidelity Global Innovators ETF		35.77%20.61%58.65%21.40%

Correlation

The correlation between XML.TO and FINN.NEO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.12

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

0.16

Correlation (All Time)
Calculated using the full available price history since May 19, 2023

0.15

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 (CAD-Hedged)

Fidelity Global Innovators ETF

Often compared with XML.TO:
XML.TO vs. XIN.TOXML.TO vs. XSP.TOXML.TO vs. XEQT.TOXML.TO vs. XMI.TOXML.TO vs. HXQ.TOXML.TO vs. XMW.TOXML.TO vs. XMU.TO
Often compared with FINN.NEO:
FINN.NEO vs. TEC.TOFINN.NEO vs. XEQT.TOFINN.NEO vs. VFV.TOFINN.NEO vs. QQC.TOFINN.NEO vs. TECI.TOFINN.NEO vs. FCUV.TOFINN.NEO vs. QQCC.TO

Return for Risk

XML.TO vs. FINN.NEO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XML.TO
XML.TO Risk / Return Rank: 6666
Overall Rank
XML.TO Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
XML.TO Sortino Ratio Rank: 6767
Sortino Ratio Rank
XML.TO Omega Ratio Rank: 7777
Omega Ratio Rank
XML.TO Calmar Ratio Rank: 6262
Calmar Ratio Rank
XML.TO Martin Ratio Rank: 5757
Martin Ratio Rank
FINN.NEO
FINN.NEO Risk / Return Rank: 8080
Overall Rank
FINN.NEO Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
FINN.NEO Sortino Ratio Rank: 7474
Sortino Ratio Rank
FINN.NEO Omega Ratio Rank: 7676
Omega Ratio Rank
FINN.NEO Calmar Ratio Rank: 8989
Calmar Ratio Rank
FINN.NEO Martin Ratio Rank: 8383
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.

XML.TO vs. FINN.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged) (XML.TO) and Fidelity Global Innovators ETF (FINN.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.

XML.TOFINN.NEODifference
Sharpe ratioReturn per unit of total volatility
1.67
2.01

-0.34

Sortino ratioReturn per unit of downside risk
2.37
2.67

-0.29

Omega ratioGain probability vs. loss probability

1.35

1.36

0.00

Calmar ratioReturn relative to maximum drawdown

2.39

4.16

-1.77

Martin ratioReturn relative to average drawdown

7.44

12.96

-5.52

XML.TO vs. FINN.NEO - Sharpe Ratio Comparison

The current XML.TO Sharpe Ratio is 1.67, which is comparable to the FINN.NEO Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of XML.TO and FINN.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.

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Drawdowns

XML.TO vs. FINN.NEO - Drawdown Comparison

The maximum XML.TO drawdown since its inception was -28.62%, which is greater than FINN.NEO's maximum drawdown of -25.66%. Use the drawdown chart below to compare losses from any high point for XML.TO and FINN.NEO.

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Drawdown Indicators

XML.TOFINN.NEODifference

Max Drawdown

Largest peak-to-trough decline

-28.62%

-25.66%

-2.96%

Max Drawdown (1Y)

Largest decline over 1 year

-6.46%

-11.94%

+5.48%

Max Drawdown (3Y)

Largest decline over 3 years

-7.46%

-25.66%

+18.20%

Max Drawdown (5Y)

Largest decline over 5 years

-12.34%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-28.62%

—

—

Current Drawdown

Current decline from peak

-0.02%

-6.49%

+6.47%

Average Drawdown

Average peak-to-trough decline

-3.43%

-3.98%

+0.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.07%

3.83%

-1.76%

Volatility

XML.TO vs. FINN.NEO - Volatility Comparison

The current volatility for iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged) (XML.TO) is 4.58%, while Fidelity Global Innovators ETF (FINN.NEO) has a volatility of 6.48%. This indicates that XML.TO experiences smaller price fluctuations and is considered to be less risky than FINN.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XML.TOFINN.NEODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.58%

6.48%

-1.90%

Volatility (6M)

Calculated over the trailing 6-month period

7.82%

20.24%

-12.42%

Volatility (1Y)

Calculated over the trailing 1-year period

9.29%

24.76%

-15.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.86%

22.40%

-12.54%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.93%

22.40%

-10.47%

XML.TO vs. FINN.NEO - Expense Ratio Comparison

XML.TO has a 0.40% expense ratio, which is lower than FINN.NEO's 1.09% expense ratio.

Dividends

XML.TO vs. FINN.NEO - Dividend Comparison

XML.TO's dividend yield for the trailing twelve months is around 2.68%, while FINN.NEO has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019201820172016
FINN.NEO
Fidelity Global Innovators ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XML.TO
iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged)		2.68%2.76%2.67%2.56%2.02%1.92%1.11%3.62%2.79%1.91%3.33%

Frequently Asked Questions

XML.TO and FINN.NEO have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

XML.TO is cheaper with a 0.40% expense ratio, compared with 1.09% for FINN.NEO.

They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.40% for XML.TO and 1.09% for FINN.NEO.

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