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XMV.TO vs. XEG.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMV.TO vs. XEG.TO

Last updated Jul 25, 2026
Documentation

XMV.TO (iShares MSCI Min Vol Canada Index ETF) and XEG.TO (iShares S&P/TSX Capped Energy Index ETF) are both exchange-traded funds - XMV.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD, while XEG.TO is a Energy Equities fund tracking the S&P/TSX Capped Energy Index. Both are passively managed. Over the past 10 years, XMV.TO returned 9.95%/yr vs 11.93%/yr for XEG.TO. At a 0.32 correlation, their price movements are largely independent. XMV.TO charges 0.33%/yr vs 0.60%/yr for XEG.TO.

Performance

XMV.TO vs. XEG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI Min Vol Canada Index ETF (XMV.TO) and iShares S&P/TSX Capped Energy Index ETF (XEG.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, XMV.TO achieves a 13.16% return, which is significantly lower than XEG.TO's 44.98% return. Over the past 10 years, XMV.TO has underperformed XEG.TO with an annualized return of 9.95%, while XEG.TO has yielded a comparatively higher 11.93% annualized return.

XMV.TO

1D
0.92%
1M
2.36%
6M
11.20%
YTD
13.16%
1Y
18.88%
3Y*
17.02%
5Y*
10.60%
10Y*
9.95%
ALL TIME*
10.61%

XEG.TO

1D
-0.83%
1M
14.91%
6M
34.10%
YTD
44.98%
1Y
62.68%
3Y*
25.57%
5Y*
32.16%
10Y*
11.93%
ALL TIME*
4.59%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

XEG.TO

iShares S&P/TSX Capped Energy Index ETF
CA$55.41MCA$49.18MCA$55.92M

XMV.TO

iShares MSCI Min Vol Canada Index ETF
CA$225.31KCA$221.10KCA$544.03K

XMV.TO vs. XEG.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XMV.TO
iShares MSCI Min Vol Canada Index ETF		13.16%17.98%15.85%11.14%-1.46%21.73%-1.41%23.69%-7.37%7.14%
XEG.TO
iShares S&P/TSX Capped Energy Index ETF		44.98%16.72%14.04%3.55%53.25%83.71%-34.44%9.04%-27.05%-11.17%

Correlation

The correlation between XMV.TO and XEG.TO is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

0.04

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

0.20

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

0.30

Correlation (10Y)
Calculated over the trailing 10-year period

0.34

Correlation (All Time)
Calculated using the full available price history since Jul 31, 2012

0.32

Over the past year, the correlation between XMV.TO and XEG.TO has dropped to 0.04 - well below their long-term average of 0.32, suggesting their price drivers have been diverging.

XMV.TO vs. XEG.TO - Sectors Allocation Comparison

Sectors
XMV.TO
XEG.TO

Financial Services

36.2%

-

Energy

13.6%
100.0%

Industrials

11.9%

-

Consumer Defensive

9.1%

-

Basic Materials

7.5%

-

Utilities

7.5%

-

Consumer Cyclical

5.3%

-

Communication Services

4.8%

-

Technology

3.7%

-

Real Estate

0.4%

-

Healthcare

-

-

Financial Services

XMV.TO
36.2%
XEG.TO

-

Energy

XMV.TO
13.6%
XEG.TO
100.0%

Industrials

XMV.TO
11.9%
XEG.TO

-

Consumer Defensive

XMV.TO
9.1%
XEG.TO

-

Basic Materials

XMV.TO
7.5%
XEG.TO

-

Utilities

XMV.TO
7.5%
XEG.TO

-

Consumer Cyclical

XMV.TO
5.3%
XEG.TO

-

Communication Services

XMV.TO
4.8%
XEG.TO

-

Technology

XMV.TO
3.7%
XEG.TO

-

Real Estate

XMV.TO
0.4%
XEG.TO

-

Healthcare

XMV.TO

-

XEG.TO

-

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 Canada Index ETF

iShares S&P/TSX Capped Energy Index ETF

Often compared with XMV.TO:
XMV.TO vs. XIC.TOXMV.TO vs. VEQT.TOXMV.TO vs. XMU.TOXMV.TO vs. XMW.TOXMV.TO vs. XMI.TOXMV.TO vs. XEQT.TOXMV.TO vs. VCE.TO
Often compared with XEG.TO:
XEG.TO vs. XLEXEG.TO vs. XEQT.TOXEG.TO vs. CNQ.TOXEG.TO vs. ZEO.TOXEG.TO vs. HXE.TOXEG.TO vs. XDIV.TOXEG.TO vs. XCG.TO

Return for Risk

XMV.TO vs. XEG.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XMV.TO
XMV.TO Risk / Return Rank: 8484
Overall Rank
XMV.TO Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
XMV.TO Sortino Ratio Rank: 8383
Sortino Ratio Rank
XMV.TO Omega Ratio Rank: 8686
Omega Ratio Rank
XMV.TO Calmar Ratio Rank: 8484
Calmar Ratio Rank
XMV.TO Martin Ratio Rank: 8383
Martin Ratio Rank
XEG.TO
XEG.TO Risk / Return Rank: 9090
Overall Rank
XEG.TO Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
XEG.TO Sortino Ratio Rank: 9090
Sortino Ratio Rank
XEG.TO Omega Ratio Rank: 9090
Omega Ratio Rank
XEG.TO Calmar Ratio Rank: 8989
Calmar Ratio Rank
XEG.TO Martin Ratio Rank: 8484
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.

XMV.TO vs. XEG.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Min Vol Canada Index ETF (XMV.TO) and iShares S&P/TSX Capped Energy Index ETF (XEG.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.

XMV.TOXEG.TODifference
Sharpe ratioReturn per unit of total volatility
1.99
2.61

-0.63

Sortino ratioReturn per unit of downside risk
2.71
3.13

-0.42

Omega ratioGain probability vs. loss probability

1.38

1.41

-0.04

Calmar ratioReturn relative to maximum drawdown

3.22

3.82

-0.60

Martin ratioReturn relative to average drawdown

11.39

11.57

-0.18

XMV.TO vs. XEG.TO - Sharpe Ratio Comparison

The current XMV.TO Sharpe Ratio is 1.99, which is comparable to the XEG.TO Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of XMV.TO and XEG.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

XMV.TO vs. XEG.TO - Drawdown Comparison

The maximum XMV.TO drawdown since its inception was -38.65%, smaller than the maximum XEG.TO drawdown of -87.51%. Use the drawdown chart below to compare losses from any high point for XMV.TO and XEG.TO.

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Drawdown Indicators

XMV.TOXEG.TODifference

Max Drawdown

Largest peak-to-trough decline

-38.65%

-87.51%

+48.86%

Max Drawdown (1Y)

Largest decline over 1 year

-5.88%

-16.47%

+10.59%

Max Drawdown (3Y)

Largest decline over 3 years

-9.72%

-25.67%

+15.95%

Max Drawdown (5Y)

Largest decline over 5 years

-17.56%

-28.42%

+10.86%

Max Drawdown (10Y)

Largest decline over 10 years

-38.65%

-79.66%

+41.01%

Current Drawdown

Current decline from peak

-0.29%

-3.58%

+3.29%

Average Drawdown

Average peak-to-trough decline

-6.55%

-34.51%

+27.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.66%

5.44%

-3.78%

Volatility

XMV.TO vs. XEG.TO - Volatility Comparison

The current volatility for iShares MSCI Min Vol Canada Index ETF (XMV.TO) is 2.39%, while iShares S&P/TSX Capped Energy Index ETF (XEG.TO) has a volatility of 6.80%. This indicates that XMV.TO experiences smaller price fluctuations and is considered to be less risky than XEG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XMV.TOXEG.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.39%

6.80%

-4.41%

Volatility (6M)

Calculated over the trailing 6-month period

6.80%

19.71%

-12.91%

Volatility (1Y)

Calculated over the trailing 1-year period

9.54%

24.10%

-14.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.82%

28.59%

-10.77%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.69%

33.40%

-5.71%

XMV.TO vs. XEG.TO - Expense Ratio Comparison

XMV.TO has a 0.33% expense ratio, which is lower than XEG.TO's 0.60% expense ratio.

Dividends

XMV.TO vs. XEG.TO - Dividend Comparison

XMV.TO's dividend yield for the trailing twelve months is around 2.06%, less than XEG.TO's 2.54% yield.

PositionTTM20252024202320222021202020192018201720162015
XEG.TO
iShares S&P/TSX Capped Energy Index ETF		2.54%3.63%3.46%4.26%3.31%1.64%2.96%2.70%2.25%1.41%1.40%3.58%
XMV.TO
iShares MSCI Min Vol Canada Index ETF		2.06%2.28%2.49%2.83%2.59%2.28%3.04%2.72%3.25%2.79%2.38%2.72%

Frequently Asked Questions

XMV.TO and XEG.TO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

XMV.TO is cheaper with a 0.33% expense ratio, compared with 0.60% for XEG.TO.

XMV.TO is categorized as Canada Equities, while XEG.TO is Energy Equities. XMV.TO tracks Morningstar Canada GR CAD, while XEG.TO tracks S&P/TSX Capped Energy Index. Their fees differ too: 0.33% for XMV.TO and 0.60% for XEG.TO.

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