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XMY.TO vs. XEF.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMY.TO vs. XEF.TO

Last updated Jun 4, 2026

XMY.TO (iShares MSCI Min Vol Global Index ETF (CAD-Hedged)) and XEF.TO (iShares Core MSCI EAFE IMI Index ETF) are both exchange-traded funds - XMY.TO is a Global Equities fund tracking the Morningstar Gbl GR CAD, while XEF.TO is a Foreign Large Cap Equities fund tracking the MSCI EAFE Investable Market Index (CAD). Both are passively managed. Over the past 5 years, XMY.TO returned 6.28%/yr vs 10.89%/yr for XEF.TO. At a 0.36 correlation, their price movements are largely independent. XMY.TO charges 0.49%/yr vs 0.23%/yr for XEF.TO.

Performance

XMY.TO vs. XEF.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.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, XMY.TO achieves a 2.30% return, which is significantly lower than XEF.TO's 9.95% 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.TO

1D
-0.41%
1M
5.38%
YTD
9.95%
6M
10.72%
1Y
23.12%
3Y*
17.83%
5Y*
10.89%
10Y*
9.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
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%19.42%-2.11%15.60%
XEF.TO
iShares Core MSCI EAFE IMI Index ETF		9.95%25.69%12.04%15.21%-9.53%10.36%6.13%15.86%-6.65%18.19%

Correlation

The correlation between XMY.TO and XEF.TO is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.26

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

0.25

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

0.29

Correlation (All Time)
Calculated using the full available price history since Jun 15, 2016

0.36

The correlation between XMY.TO and XEF.TO shifts across timeframes, from 0.25 (3 years) to 0.36 (all time), reflecting how their relationship changes across market environments.

XMY.TO vs. XEF.TO - Sectors Allocation Comparison

Sectors
XMY.TO
XEF.TO

Technology

22.4%
10.2%

Financial Services

13.8%
22.9%

Healthcare

13.1%
9.8%

Communication Services

11.7%
4.4%

Consumer Defensive

10.2%
6.4%

Utilities

7.8%
3.8%

Industrials

7.7%
20.5%

Consumer Cyclical

5.2%
8.2%

Energy

3.0%
4.0%

Basic Materials

1.6%
6.6%

Real Estate

0.8%
3.1%

Technology

XMY.TO
22.4%
XEF.TO
10.2%

Financial Services

XMY.TO
13.8%
XEF.TO
22.9%

Healthcare

XMY.TO
13.1%
XEF.TO
9.8%

Communication Services

XMY.TO
11.7%
XEF.TO
4.4%

Consumer Defensive

XMY.TO
10.2%
XEF.TO
6.4%

Utilities

XMY.TO
7.8%
XEF.TO
3.8%

Industrials

XMY.TO
7.7%
XEF.TO
20.5%

Consumer Cyclical

XMY.TO
5.2%
XEF.TO
8.2%

Energy

XMY.TO
3.0%
XEF.TO
4.0%

Basic Materials

XMY.TO
1.6%
XEF.TO
6.6%

Real Estate

XMY.TO
0.8%
XEF.TO
3.1%

Compare stocks, funds, or ETFs

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iShares MSCI Min Vol Global Index ETF (CAD-Hedged)

iShares Core MSCI EAFE IMI Index ETF

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XMY.TO vs. XMU.TOXMY.TO vs. XMV.TOXMY.TO vs. XML.TOXMY.TO vs. CAGE.TOXMY.TO vs. FCIN.NEOXMY.TO vs. XEQT.TOXMY.TO vs. VMO.TO
Often compared with XEF.TO:
XEF.TO vs. XEC.TOXEF.TO vs. VIU.TOXEF.TO vs. ZEA.TOXEF.TO vs. XFH.TOXEF.TO vs. IEFAXEF.TO vs. XIC.TOXEF.TO vs. XEF-U.TO

Return for Risk

XMY.TO vs. XEF.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: 2222
Overall Rank
XMY.TO Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
XMY.TO Sortino Ratio Rank: 2020
Sortino Ratio Rank
XMY.TO Omega Ratio Rank: 2020
Omega Ratio Rank
XMY.TO Calmar Ratio Rank: 2222
Calmar Ratio Rank
XMY.TO Martin Ratio Rank: 2323
Martin Ratio Rank
XEF.TO
XEF.TO Risk / Return Rank: 4747
Overall Rank
XEF.TO Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
XEF.TO Sortino Ratio Rank: 4848
Sortino Ratio Rank
XEF.TO Omega Ratio Rank: 4848
Omega Ratio Rank
XEF.TO Calmar Ratio Rank: 4141
Calmar Ratio Rank
XEF.TO Martin Ratio Rank: 4848
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.

XMY.TO vs. XEF.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.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.TOXEF.TODifference
Sharpe ratioReturn per unit of total volatility
0.72
1.68

-0.96

Sortino ratioReturn per unit of downside risk
1.05
2.41

-1.36

Omega ratioGain probability vs. loss probability

1.13

1.31

-0.18

Calmar ratioReturn relative to maximum drawdown

1.02

2.06

-1.04

Martin ratioReturn relative to average drawdown

2.95

8.22

-5.28

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current XMY.TO Sharpe Ratio is 0.72, which is lower than the XEF.TO Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of XMY.TO and XEF.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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Sharpe Ratios by Period

XMY.TOXEF.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.72

1.68

-0.96

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.65

0.81

-0.16

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.66

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.63

0.71

-0.08

Drawdowns

XMY.TO vs. XEF.TO - Drawdown Comparison

The maximum XMY.TO drawdown since its inception was -29.00%, roughly equal to the maximum XEF.TO drawdown of -28.51%. Use the drawdown chart below to compare losses from any high point for XMY.TO and XEF.TO.

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Drawdown Indicators

XMY.TOXEF.TODifference

Max Drawdown

Largest peak-to-trough decline

-29.00%

-28.51%

-0.49%

Max Drawdown (1Y)

Largest decline over 1 year

-5.35%

-11.27%

+5.92%

Max Drawdown (3Y)

Largest decline over 3 years

-8.10%

-14.32%

+6.22%

Max Drawdown (5Y)

Largest decline over 5 years

-13.89%

-24.58%

+10.69%

Max Drawdown (10Y)

Largest decline over 10 years

—

-28.51%

—

Current Drawdown

Current decline from peak

-2.20%

-1.09%

-1.11%

Average Drawdown

Average peak-to-trough decline

-3.30%

-4.62%

+1.32%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.85%

2.82%

-0.97%

Volatility

XMY.TO vs. XEF.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.TO) has a volatility of 4.77%. This indicates that XMY.TO experiences smaller price fluctuations and is considered to be less risky than XEF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XMY.TOXEF.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.98%

4.77%

-2.79%

Volatility (6M)

Calculated over the trailing 6-month period

5.92%

11.56%

-5.64%

Volatility (1Y)

Calculated over the trailing 1-year period

7.58%

13.85%

-6.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.74%

13.58%

-3.84%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.48%

14.85%

-3.37%

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

XMY.TO has a 0.49% expense ratio, which is higher than XEF.TO's 0.23% expense ratio.

Dividends

XMY.TO vs. XEF.TO - Dividend Comparison

XMY.TO's dividend yield for the trailing twelve months is around 1.86%, less than XEF.TO's 2.21% yield.

PositionTTM20252024202320222021202020192018201720162015
XEF.TO
iShares Core MSCI EAFE IMI Index ETF		2.21%2.43%2.76%2.75%2.93%2.42%1.93%2.72%2.76%2.10%2.42%2.42%
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%0.00%

Frequently Asked Questions

XMY.TO and XEF.TO have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XEF.TO is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XEF.TO is cheaper with a 0.23% expense ratio, compared with 0.49% for XMY.TO.

XMY.TO is categorized as Global Equities, while XEF.TO is Foreign Large Cap Equities. XMY.TO tracks Morningstar Gbl GR CAD, while XEF.TO tracks MSCI EAFE Investable Market Index (CAD). Their fees differ too: 0.49% for XMY.TO and 0.23% for XEF.TO.

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