XMU.TO vs. CLU.NEO
XMU.TO (iShares MSCI Min Vol USA Index ETF) and CLU.NEO (iShares US Fundamental Index ETF (CAD-Hedged) Common Class) are both Large Cap Blend Equities funds from iShares - XMU.TO tracks the MSCI USA Minimum Volatility Index while CLU.NEO tracks the FTSE RAFI US 1000 Canadian Dollar Hedged Index. Both are passively managed. Over the past 10 years, XMU.TO returned 9.17%/yr vs 11.02%/yr for CLU.NEO. At a 0.41 correlation, their price movements are largely independent. XMU.TO charges 0.33%/yr vs 0.72%/yr for CLU.NEO.
Performance
XMU.TO vs. CLU.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, XMU.TO achieves a 3.85% return, which is significantly lower than CLU.NEO's 8.69% return. Over the past 10 years, XMU.TO has underperformed CLU.NEO with an annualized return of 9.17%, while CLU.NEO has yielded a comparatively higher 11.02% annualized return.
XMU.TO
- 1D
- -0.09%
- 1M
- 4.37%
- YTD
- 3.85%
- 6M
- -1.16%
- 1Y
- 1.98%
- 3Y*
- 10.21%
- 5Y*
- 8.15%
- 10Y*
- 9.17%
CLU.NEO
- 1D
- -0.17%
- 1M
- 1.48%
- YTD
- 8.69%
- 6M
- 10.24%
- 1Y
- 25.16%
- 3Y*
- 16.95%
- 5Y*
- 9.30%
- 10Y*
- 11.02%
XMU.TO vs. CLU.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XMU.TO iShares MSCI Min Vol USA Index ETF | 3.85% | -0.84% | 21.99% | 6.59% | -3.64% | 16.99% | 2.99% | 20.78% | 9.07% | 10.80% |
CLU.NEO iShares US Fundamental Index ETF (CAD-Hedged) Common Class | 8.69% | 15.20% | 14.82% | 13.13% | -9.37% | 31.13% | 3.57% | 25.41% | -11.16% | 14.83% |
Correlation
The correlation between XMU.TO and CLU.NEO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2012 | 0.41 |
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Return for Risk
XMU.TO vs. CLU.NEO — Risk / Return Rank
XMU.TO
CLU.NEO
XMU.TO vs. CLU.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Min Vol USA Index ETF (XMU.TO) and iShares US Fundamental Index ETF (CAD-Hedged) Common Class (CLU.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.
| XMU.TO | CLU.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.28 | ||
| Sortino ratioReturn per unit of downside risk | -3.42 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.54 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | 0.26 | 3.86 | -3.60 |
| Martin ratioReturn relative to average drawdown | 0.56 | 14.84 | -14.28 |
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
| XMU.TO | CLU.NEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.22 | 2.50 | -2.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.64 | +0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 0.61 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.98 | 0.61 | +0.37 |
Drawdowns
XMU.TO vs. CLU.NEO - Drawdown Comparison
The maximum XMU.TO drawdown since its inception was -27.31%, smaller than the maximum CLU.NEO drawdown of -39.93%. Use the drawdown chart below to compare losses from any high point for XMU.TO and CLU.NEO.
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Drawdown Indicators
| XMU.TO | CLU.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.31% | -39.93% | +12.62% |
Max Drawdown (1Y)Largest decline over 1 year | -7.71% | -6.55% | -1.16% |
Max Drawdown (3Y)Largest decline over 3 years | -10.98% | -16.57% | +5.59% |
Max Drawdown (5Y)Largest decline over 5 years | -18.16% | -20.66% | +2.50% |
Max Drawdown (10Y)Largest decline over 10 years | -27.31% | -39.93% | +12.62% |
Current DrawdownCurrent decline from peak | -3.95% | -0.70% | -3.25% |
Average DrawdownAverage peak-to-trough decline | -3.44% | -4.74% | +1.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.57% | 1.70% | +1.87% |
Volatility
XMU.TO vs. CLU.NEO - Volatility Comparison
The current volatility for iShares MSCI Min Vol USA Index ETF (XMU.TO) is 2.18%, while iShares US Fundamental Index ETF (CAD-Hedged) Common Class (CLU.NEO) has a volatility of 2.30%. This indicates that XMU.TO experiences smaller price fluctuations and is considered to be less risky than CLU.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XMU.TO | CLU.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.18% | 2.30% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 6.86% | 7.24% | -0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.20% | 10.11% | -0.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.15% | 14.54% | -3.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.97% | 18.08% | -4.11% |
XMU.TO vs. CLU.NEO - Expense Ratio Comparison
XMU.TO has a 0.33% expense ratio, which is lower than CLU.NEO's 0.72% expense ratio.
Dividends
XMU.TO vs. CLU.NEO - Dividend Comparison
XMU.TO's dividend yield for the trailing twelve months is around 1.12%, less than CLU.NEO's 1.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLU.NEO iShares US Fundamental Index ETF (CAD-Hedged) Common Class | 1.20% | 1.31% | 1.32% | 1.35% | 1.63% | 1.19% | 1.66% | 1.46% | 1.77% | 1.46% | 1.63% | 1.87% |
XMU.TO iShares MSCI Min Vol USA Index ETF | 1.12% | 1.10% | 1.14% | 1.33% | 1.10% | 1.00% | 1.59% | 1.36% | 1.39% | 1.51% | 1.73% | 1.35% |
Frequently Asked Questions
XMU.TO and CLU.NEO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XMU.TO is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XMU.TO is cheaper with a 0.33% expense ratio, compared with 0.72% for CLU.NEO.
XMU.TO tracks MSCI USA Minimum Volatility Index, while CLU.NEO tracks FTSE RAFI US 1000 Canadian Dollar Hedged Index. Their fees differ too: 0.33% for XMU.TO and 0.72% for CLU.NEO.
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