XMW.TO vs. CAGE.TO

Last updated Jun 4, 2026

XMW.TO (iShares MSCI Min Vol Global Index ETF) and CAGE.TO (Avantis CIBC All-Equity Asset Allocation ETF) are both Global Equities funds. XMW.TO is passively managed, while CAGE.TO is actively managed. At a 0.39 correlation, their price movements are largely independent.

Performance

XMW.TO vs. CAGE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI Min Vol Global Index ETF (XMW.TO) and Avantis CIBC All-Equity Asset Allocation ETF (CAGE.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

XMW.TO

• 1D: 0.07%
• 1M: 3.38%
• YTD: 3.60%
• 6M: 2.07%
• 1Y: 5.74%
• 3Y*: 10.78%
• 5Y*: 7.90%
• 10Y*: 7.50%

CAGE.TO

• 1D: -0.31%
• 1M: 5.63%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XMW.TO vs. CAGE.TO - Yearly Performance Comparison

	2026 (YTD)
XMW.TO iShares MSCI Min Vol Global Index ETF	2.79%
CAGE.TO Avantis CIBC All-Equity Asset Allocation ETF	11.71%

Correlation

The correlation between XMW.TO and CAGE.TO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 19, 2026	0.39

Return for Risk

XMW.TO vs. CAGE.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XMW.TO

XMW.TO Risk / Return Rank: 22
XMW.TO Sharpe Ratio Rank: 21
XMW.TO Sortino Ratio Rank: 20
XMW.TO Omega Ratio Rank: 20
XMW.TO Calmar Ratio Rank: 24
XMW.TO Martin Ratio Rank: 24

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.

XMW.TO vs. CAGE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Min Vol Global Index ETF (XMW.TO) and Avantis CIBC All-Equity Asset Allocation ETF (CAGE.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.

	XMW.TO	CAGE.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.75	—	—
Sortino ratio: Return per unit of downside risk	1.10	—	—
Omega ratio: Gain probability vs. loss probability	1.14	—	—
Calmar ratio: Return relative to maximum drawdown	1.12	—	—
Martin ratio: Return relative to average drawdown	3.08	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	XMW.TO	CAGE.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.91	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.94	4.44	-3.50

Drawdowns

XMW.TO vs. CAGE.TO - Drawdown Comparison

The maximum XMW.TO drawdown since its inception was -21.42%, which is greater than CAGE.TO's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for XMW.TO and CAGE.TO.

Drawdown Indicators

	XMW.TO	CAGE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-21.42%	-2.93%	-18.49%
Max Drawdown (1Y) Largest decline over 1 year	-5.14%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-8.59%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.45%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-21.42%	—	—
Current Drawdown Current decline from peak	-0.58%	-1.96%	+1.38%
Average Drawdown Average peak-to-trough decline	-2.74%	-0.72%	-2.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	—	—

Volatility

Volatility by Period

	XMW.TO	CAGE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.87%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.59%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.67%	15.75%	-8.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.70%	15.75%	-7.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.07%	15.75%	-4.68%

Dividends

XMW.TO vs. CAGE.TO - Dividend Comparison

XMW.TO's dividend yield for the trailing twelve months is around 1.52%, while CAGE.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAGE.TO Avantis CIBC All-Equity Asset Allocation ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XMW.TO iShares MSCI Min Vol Global Index ETF	1.52%	1.58%	1.81%	1.98%	1.66%	1.43%	1.52%	2.20%	2.01%	1.61%	2.02%	1.85%

Frequently Asked Questions

Can I hold both XMW.TO and CAGE.TO in my portfolio?

XMW.TO and CAGE.TO have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between XMW.TO and CAGE.TO?

They also come from different issuers: iShares and Avantis.