PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
XMS.TO vs. XMM.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMS.TO vs. XMM.TO

Last updated Aug 5, 2026
Documentation

XMS.TO (iShares MSCI Min Vol USA Index ETF (CAD-Hedged)) and XMM.TO (iShares MSCI Min Vol Emerging Markets Index ETF) are both exchange-traded funds - XMS.TO is a Low Volatility fund tracking the MSCI USA Minimum Volatility (USD) 100% Hedged to CAD Index, while XMM.TO is a Emerging Markets Equities fund tracking the Morningstar EM GR CAD. Both are passively managed. Over the past 10 years, XMS.TO returned 7.66%/yr vs 6.06%/yr for XMM.TO. Their 0.22 correlation means their historical movements had little consistent relationship. XMS.TO charges 0.33%/yr vs 0.42%/yr for XMM.TO.

Performance

XMS.TO vs. XMM.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI Min Vol USA Index ETF (CAD-Hedged) (XMS.TO) and iShares MSCI Min Vol Emerging Markets Index ETF (XMM.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, XMS.TO achieves a 3.79% return, which is significantly lower than XMM.TO's 18.53% return. Over the past 10 years, XMS.TO has outperformed XMM.TO with an annualized return of 7.66%, while XMM.TO has yielded a comparatively lower 6.06% annualized return.

XMS.TO

1D
1.45%
1M
1.17%
6M
3.55%
YTD
3.79%
1Y
4.16%
3Y*
8.49%
5Y*
4.51%
10Y*
7.66%
ALL TIME*
8.16%

XMM.TO

1D
3.53%
1M
-1.65%
6M
13.71%
YTD
18.53%
1Y
23.63%
3Y*
14.39%
5Y*
7.96%
10Y*
6.06%
ALL TIME*
6.62%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

XMM.TO

iShares MSCI Min Vol Emerging Markets Index ETF
CA$59.82KCA$74.15KCA$94.80K

XMS.TO

iShares MSCI Min Vol USA Index ETF (CAD-Hedged)
CA$6.72KCA$12.98KCA$19.38K

XMS.TO vs. XMM.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XMS.TO
iShares MSCI Min Vol USA Index ETF (CAD-Hedged)		3.79%3.74%14.27%7.88%-11.12%21.05%1.86%25.99%-1.00%16.77%
XMM.TO
iShares MSCI Min Vol Emerging Markets Index ETF		18.53%7.65%16.66%4.10%-7.83%3.95%4.32%1.36%2.38%18.75%

Correlation

The correlation between XMS.TO and XMM.TO is 0.11, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.11

Correlation (3Y)
Balances recent behavior with more history.

0.15

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.19

Correlation (10Y)
Provides a long-term view across more market conditions.

0.22

Correlation (All Time)
Calculated using the full available price history since Apr 11, 2016

0.22

The correlation between XMS.TO and XMM.TO shifts across timeframes, from 0.11 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.

XMS.TO vs. XMM.TO - Sectors Allocation Comparison

Sectors
XMS.TO
XMM.TO

Technology

32.5%
37.4%

Healthcare

13.5%
5.5%

Financial Services

11.8%
18.3%

Consumer Defensive

9.5%
5.4%

Utilities

7.3%
4.2%

Industrials

6.3%
5.8%

Communication Services

5.8%
10.0%

Consumer Cyclical

5.7%
6.7%

Energy

2.6%
3.5%

Real Estate

2.6%
0.6%

Basic Materials

2.2%
2.6%

Technology

XMS.TO
32.5%
XMM.TO
37.4%

Healthcare

XMS.TO
13.5%
XMM.TO
5.5%

Financial Services

XMS.TO
11.8%
XMM.TO
18.3%

Consumer Defensive

XMS.TO
9.5%
XMM.TO
5.4%

Utilities

XMS.TO
7.3%
XMM.TO
4.2%

Industrials

XMS.TO
6.3%
XMM.TO
5.8%

Communication Services

XMS.TO
5.8%
XMM.TO
10.0%

Consumer Cyclical

XMS.TO
5.7%
XMM.TO
6.7%

Energy

XMS.TO
2.6%
XMM.TO
3.5%

Real Estate

XMS.TO
2.6%
XMM.TO
0.6%

Basic Materials

XMS.TO
2.2%
XMM.TO
2.6%

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 USA Index ETF (CAD-Hedged)

iShares MSCI Min Vol Emerging Markets Index ETF

Often compared with XMS.TO:
XMS.TO vs. XMU.TOXMS.TO vs. VFV.TOXMS.TO vs. XDU.TOXMS.TO vs. VSP.TOXMS.TO vs. XUS.TOXMS.TO vs. SPYXMS.TO vs. ZSP.TO
Often compared with XMM.TO:
XMM.TO vs. XSEM.TOXMM.TO vs. XMU.TOXMM.TO vs. XEC.TOXMM.TO vs. XEQT.TOXMM.TO vs. HTAE.TOXMM.TO vs. SPMOXMM.TO vs. VEE.TO

Return for Risk

XMS.TO vs. XMM.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
XMS.TO
XMS.TO Risk / Return Rank: 1818
Overall Rank
XMS.TO Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
XMS.TO Sortino Ratio Rank: 1717
Sortino Ratio Rank
XMS.TO Omega Ratio Rank: 1818
Omega Ratio Rank
XMS.TO Calmar Ratio Rank: 1818
Calmar Ratio Rank
XMS.TO Martin Ratio Rank: 1818
Martin Ratio Rank
XMM.TO
XMM.TO Risk / Return Rank: 5656
Overall Rank
XMM.TO Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
XMM.TO Sortino Ratio Rank: 5252
Sortino Ratio Rank
XMM.TO Omega Ratio Rank: 6464
Omega Ratio Rank
XMM.TO Calmar Ratio Rank: 5858
Calmar Ratio Rank
XMM.TO Martin Ratio Rank: 5656
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XMS.TO vs. XMM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Min Vol USA Index ETF (CAD-Hedged) (XMS.TO) and iShares MSCI Min Vol Emerging Markets Index ETF (XMM.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.

XMS.TOXMM.TODifference
Sharpe ratioReturn per unit of total volatility
0.40
1.47

-1.08

Sortino ratioReturn per unit of downside risk
0.62
2.09

-1.47

Omega ratioGain probability vs. loss probability

1.08

1.31

-0.23

Calmar ratioReturn relative to maximum drawdown

0.50

2.35

-1.85

Martin ratioReturn relative to average drawdown

1.15

7.34

-6.19

XMS.TO vs. XMM.TO - Sharpe Ratio Comparison

The current XMS.TO Sharpe Ratio is 0.40, which is lower than the XMM.TO Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of XMS.TO and XMM.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.

Loading charts...

Drawdowns

XMS.TO vs. XMM.TO - Drawdown Comparison

The maximum XMS.TO drawdown since its inception was -36.87%, which is greater than XMM.TO's maximum drawdown of -22.07%. Use the drawdown chart below to compare losses from any high point for XMS.TO and XMM.TO.

Loading charts...

Drawdown Indicators

XMS.TOXMM.TODifference

Max Drawdown

Largest peak-to-trough decline

-36.87%

-22.07%

-14.80%

Max Drawdown (1Y)

Largest decline over 1 year

-8.32%

-10.09%

+1.77%

Max Drawdown (3Y)

Largest decline over 3 years

-9.80%

-10.09%

+0.29%

Max Drawdown (5Y)

Largest decline over 5 years

-19.06%

-15.42%

-3.64%

Max Drawdown (10Y)

Largest decline over 10 years

-36.87%

-22.07%

-14.80%

Current Drawdown

Current decline from peak

-0.71%

-4.89%

+4.18%

Average Drawdown

Average peak-to-trough decline

-4.42%

-5.19%

+0.77%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.62%

3.23%

+0.39%

Volatility

XMS.TO vs. XMM.TO - Volatility Comparison

The current volatility for iShares MSCI Min Vol USA Index ETF (CAD-Hedged) (XMS.TO) is 3.68%, while iShares MSCI Min Vol Emerging Markets Index ETF (XMM.TO) has a volatility of 7.33%. This indicates that XMS.TO experiences smaller price fluctuations and is considered to be less risky than XMM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

XMS.TOXMM.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.68%

7.33%

-3.65%

Volatility (6M)

Calculated over the trailing 6-month period

7.00%

14.99%

-7.99%

Volatility (1Y)

Calculated over the trailing 1-year period

10.58%

16.15%

-5.57%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.44%

11.21%

+1.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.25%

12.33%

+2.92%

XMS.TO vs. XMM.TO - Expense Ratio Comparison

XMS.TO has a 0.33% expense ratio, which is lower than XMM.TO's 0.42% expense ratio.

Dividends

XMS.TO vs. XMM.TO - Dividend Comparison

XMS.TO's dividend yield for the trailing twelve months is around 1.18%, less than XMM.TO's 1.97% yield.

PositionTTM20252024202320222021202020192018201720162015
XMM.TO
iShares MSCI Min Vol Emerging Markets Index ETF		1.97%2.37%2.95%2.55%1.55%1.91%2.09%2.44%2.23%2.09%2.35%2.16%
XMS.TO
iShares MSCI Min Vol USA Index ETF (CAD-Hedged)		1.18%1.10%1.24%1.41%1.22%1.02%1.71%1.44%1.58%2.02%0.94%0.00%

Frequently Asked Questions

XMS.TO and XMM.TO have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XMS.TO is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XMS.TO is cheaper with a 0.33% expense ratio, compared with 0.42% for XMM.TO.

XMS.TO is categorized as Low Volatility, while XMM.TO is Emerging Markets Equities. XMS.TO tracks MSCI USA Minimum Volatility (USD) 100% Hedged to CAD Index, while XMM.TO tracks Morningstar EM GR CAD. Their fees differ too: 0.33% for XMS.TO and 0.42% for XMM.TO.

Portfolio Optimizer

Find the right allocation for XMS.TO and XMM.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer