XMY.TO vs. XEF-U.TO

Last updated Jun 4, 2026

XMY.TO (iShares MSCI Min Vol Global Index ETF (CAD-Hedged)) and XEF-U.TO (iShares Core MSCI EAFE IMI Index ETF) are both Global Equities funds from iShares - XMY.TO tracks the Morningstar Gbl GR CAD while XEF-U.TO tracks the MSCI EAFE® Investable Market Index. Both are passively managed. Over the past 5 years, XMY.TO returned 6.28%/yr vs 10.23%/yr for XEF-U.TO. At a 0.16 correlation, their price movements are largely independent. XMY.TO charges 0.49%/yr vs 0.21%/yr for XEF-U.TO.

Performance

XMY.TO vs. XEF-U.TO - Performance Comparison

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

Different Trading Currencies

XMY.TO is traded in CAD, while XEF-U.TO is traded in USD. To make them comparable, the XEF-U.TO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XMY.TO achieves a 2.30% return, which is significantly lower than XEF-U.TO's 9.83% return.

XMY.TO

• 1D: 0.12%
• 1M: 1.84%
• YTD: 2.30%
• 6M: 2.49%
• 1Y: 5.25%
• 3Y*: 10.11%
• 5Y*: 6.28%
• 10Y*: —

XEF-U.TO

• 1D: -0.35%
• 1M: 5.65%
• YTD: 9.83%
• 6M: 10.47%
• 1Y: 22.33%
• 3Y*: 17.30%
• 5Y*: 10.23%
• 10Y*: —

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

XMY.TO vs. XEF-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XMY.TO iShares MSCI Min Vol Global Index ETF (CAD-Hedged)	2.30%	9.22%	13.48%	7.15%	-7.59%	16.37%	-1.31%	1.32%
XEF-U.TO iShares Core MSCI EAFE IMI Index ETF	9.83%	25.22%	11.01%	13.32%	-9.54%	9.81%	6.64%	2.91%

Correlation

The correlation between XMY.TO and XEF-U.TO is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (All Time) Calculated using the full available price history since Oct 30, 2019	0.16

Return for Risk

XMY.TO vs. XEF-U.TO — Risk / Return Rank

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

XMY.TO

XMY.TO Risk / Return Rank: 22
XMY.TO Sharpe Ratio Rank: 21
XMY.TO Sortino Ratio Rank: 20
XMY.TO Omega Ratio Rank: 20
XMY.TO Calmar Ratio Rank: 22
XMY.TO Martin Ratio Rank: 23

XEF-U.TO

XEF-U.TO Risk / Return Rank: 38
XEF-U.TO Sharpe Ratio Rank: 38
XEF-U.TO Sortino Ratio Rank: 37
XEF-U.TO Omega Ratio Rank: 38
XEF-U.TO Calmar Ratio Rank: 36
XEF-U.TO Martin Ratio Rank: 42

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.

XMY.TO vs. XEF-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Min Vol Global Index ETF (CAD-Hedged) (XMY.TO) and iShares Core MSCI EAFE IMI Index ETF (XEF-U.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.

	XMY.TO	XEF-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.72	1.59	-0.86
Sortino ratio: Return per unit of downside risk	1.05	2.21	-1.16
Omega ratio: Gain probability vs. loss probability	1.13	1.29	-0.16
Calmar ratio: Return relative to maximum drawdown	1.02	1.99	-0.97
Martin ratio: Return relative to average drawdown	2.95	8.01	-5.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XMY.TO vs. XEF-U.TO - Sharpe Ratio Comparison

The current XMY.TO Sharpe Ratio is 0.72, which is lower than the XEF-U.TO Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of XMY.TO and XEF-U.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.

Sharpe Ratios by Period

	XMY.TO	XEF-U.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.72	1.59	-0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.90	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.91	-0.28

Drawdowns

XMY.TO vs. XEF-U.TO - Drawdown Comparison

The maximum XMY.TO drawdown since its inception was -29.00%, which is greater than XEF-U.TO's maximum drawdown of -27.28%. Use the drawdown chart below to compare losses from any high point for XMY.TO and XEF-U.TO.

Drawdown Indicators

	XMY.TO	XEF-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-29.00%	-27.28%	-1.72%
Max Drawdown (1Y) Largest decline over 1 year	-5.35%	-11.37%	+6.02%
Max Drawdown (3Y) Largest decline over 3 years	-8.10%	-13.81%	+5.71%
Max Drawdown (5Y) Largest decline over 5 years	-13.89%	-25.05%	+11.16%
Current Drawdown Current decline from peak	-2.20%	-0.91%	-1.29%
Average Drawdown Average peak-to-trough decline	-3.30%	-3.89%	+0.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	2.81%	-0.96%

Volatility

XMY.TO vs. XEF-U.TO - Volatility Comparison

The current volatility for iShares MSCI Min Vol Global Index ETF (CAD-Hedged) (XMY.TO) is 1.98%, while iShares Core MSCI EAFE IMI Index ETF (XEF-U.TO) has a volatility of 4.81%. This indicates that XMY.TO experiences smaller price fluctuations and is considered to be less risky than XEF-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XMY.TO	XEF-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.98%	4.81%	-2.83%
Volatility (6M) Calculated over the trailing 6-month period	5.92%	11.84%	-5.92%
Volatility (1Y) Calculated over the trailing 1-year period	7.58%	14.28%	-6.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.74%	17.82%	-8.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.48%	20.35%	-8.87%

XMY.TO vs. XEF-U.TO - Expense Ratio Comparison

XMY.TO has a 0.49% expense ratio, which is higher than XEF-U.TO's 0.21% expense ratio.

Dividends

XMY.TO vs. XEF-U.TO - Dividend Comparison

XMY.TO's dividend yield for the trailing twelve months is around 1.86%, more than XEF-U.TO's 1.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
XEF-U.TO iShares Core MSCI EAFE IMI Index ETF	1.63%	1.77%	2.05%	2.09%	2.27%	1.94%	1.41%	0.77%	0.00%	0.00%	0.00%
XMY.TO iShares MSCI Min Vol Global Index ETF (CAD-Hedged)	1.86%	1.90%	1.91%	1.90%	1.71%	1.40%	1.37%	2.16%	1.45%	1.58%	2.07%

Frequently Asked Questions

Can I hold both XMY.TO and XEF-U.TO in my portfolio?

XMY.TO and XEF-U.TO have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XMY.TO or XEF-U.TO?

On fees, XEF-U.TO is cheaper at 0.21% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XMY.TO or XEF-U.TO?

XEF-U.TO is cheaper with a 0.21% expense ratio, compared with 0.49% for XMY.TO.

What is the main difference between XMY.TO and XEF-U.TO?

XMY.TO tracks Morningstar Gbl GR CAD, while XEF-U.TO tracks MSCI EAFE® Investable Market Index. Their fees differ too: 0.49% for XMY.TO and 0.21% for XEF-U.TO.