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XWD.TO vs. XMW.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XWD.TO vs. XMW.TO

Last updated Jun 4, 2026

XWD.TO (iShares MSCI World Index ETF) and XMW.TO (iShares MSCI Min Vol Global Index ETF) are both Global Equities funds from iShares tracking the Morningstar Gbl GR CAD. Both are passively managed. Over the past 10 years, XWD.TO returned 13.45%/yr vs 7.50%/yr for XMW.TO. A 0.67 correlation means they provide meaningful diversification when combined. Both charge a 0.48% expense ratio.

Performance

XWD.TO vs. XMW.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI World Index ETF (XWD.TO) and iShares MSCI Min Vol Global Index ETF (XMW.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, XWD.TO achieves a 11.42% return, which is significantly higher than XMW.TO's 3.60% return. Over the past 10 years, XWD.TO has outperformed XMW.TO with an annualized return of 13.45%, while XMW.TO has yielded a comparatively lower 7.50% annualized return.

XWD.TO

1D
-0.47%
1M
6.72%
YTD
11.42%
6M
10.29%
1Y
27.27%
3Y*
21.42%
5Y*
14.76%
10Y*
13.45%

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

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

2026 (YTD)202520242023202220212020201920182017
XWD.TO
iShares MSCI World Index ETF		11.42%15.25%28.07%20.32%-11.57%21.87%11.41%21.44%-1.52%14.42%
XMW.TO
iShares MSCI Min Vol Global Index ETF		3.60%5.84%20.05%4.68%-4.33%12.80%0.51%14.74%5.95%10.19%

Correlation

The correlation between XWD.TO and XMW.TO is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.50

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

0.53

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

0.57

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

0.67

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

0.67

The correlation between XWD.TO and XMW.TO shifts across timeframes, from 0.50 (1 year) to 0.67 (all time), reflecting how their relationship changes across market environments.

XWD.TO vs. XMW.TO - Sectors Allocation Comparison

Sectors
XWD.TO
XMW.TO

Technology

29.0%
22.6%

Financial Services

15.9%
13.4%

Industrials

11.0%
7.5%

Consumer Cyclical

9.3%
5.1%

Communication Services

9.1%
11.6%

Healthcare

8.6%
12.9%

Consumer Defensive

5.3%
10.1%

Energy

4.1%
2.9%

Basic Materials

3.2%
1.6%

Utilities

2.7%
7.6%

Real Estate

1.9%
0.7%

Technology

XWD.TO
29.0%
XMW.TO
22.6%

Financial Services

XWD.TO
15.9%
XMW.TO
13.4%

Industrials

XWD.TO
11.0%
XMW.TO
7.5%

Consumer Cyclical

XWD.TO
9.3%
XMW.TO
5.1%

Communication Services

XWD.TO
9.1%
XMW.TO
11.6%

Healthcare

XWD.TO
8.6%
XMW.TO
12.9%

Consumer Defensive

XWD.TO
5.3%
XMW.TO
10.1%

Energy

XWD.TO
4.1%
XMW.TO
2.9%

Basic Materials

XWD.TO
3.2%
XMW.TO
1.6%

Utilities

XWD.TO
2.7%
XMW.TO
7.6%

Real Estate

XWD.TO
1.9%
XMW.TO
0.7%

Compare stocks, funds, or ETFs

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iShares MSCI World Index ETF

iShares MSCI Min Vol Global Index ETF

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Often compared with XMW.TO:
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Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XWD.TO
XWD.TO Risk / Return Rank: 7171
Overall Rank
XWD.TO Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
XWD.TO Sortino Ratio Rank: 7171
Sortino Ratio Rank
XWD.TO Omega Ratio Rank: 7171
Omega Ratio Rank
XWD.TO Calmar Ratio Rank: 7070
Calmar Ratio Rank
XWD.TO Martin Ratio Rank: 7575
Martin Ratio Rank
XMW.TO
XMW.TO Risk / Return Rank: 2222
Overall Rank
XMW.TO Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
XMW.TO Sortino Ratio Rank: 2020
Sortino Ratio Rank
XMW.TO Omega Ratio Rank: 2020
Omega Ratio Rank
XMW.TO Calmar Ratio Rank: 2424
Calmar Ratio Rank
XMW.TO Martin Ratio Rank: 2424
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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World Index ETF (XWD.TO) and iShares MSCI Min Vol Global Index ETF (XMW.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.

XWD.TOXMW.TODifference
Sharpe ratioReturn per unit of total volatility
2.35
0.75

+1.60

Sortino ratioReturn per unit of downside risk
3.29
1.10

+2.19

Omega ratioGain probability vs. loss probability

1.43

1.14

+0.30

Calmar ratioReturn relative to maximum drawdown

3.55

1.12

+2.43

Martin ratioReturn relative to average drawdown

14.52

3.08

+11.44

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

XWD.TO vs. XMW.TO - Sharpe Ratio Comparison

The current XWD.TO Sharpe Ratio is 2.35, which is higher than the XMW.TO Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of XWD.TO and XMW.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

XWD.TOXMW.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.35

0.75

+1.60

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.08

0.91

+0.17

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.88

0.68

+0.20

Sharpe Ratio (All Time)

Calculated using the full available price history

0.90

0.94

-0.04

Drawdowns

XWD.TO vs. XMW.TO - Drawdown Comparison

The maximum XWD.TO drawdown since its inception was -27.48%, which is greater than XMW.TO's maximum drawdown of -21.42%. Use the drawdown chart below to compare losses from any high point for XWD.TO and XMW.TO.

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Drawdown Indicators

XWD.TOXMW.TODifference

Max Drawdown

Largest peak-to-trough decline

-27.48%

-21.42%

-6.06%

Max Drawdown (1Y)

Largest decline over 1 year

-7.71%

-5.14%

-2.57%

Max Drawdown (3Y)

Largest decline over 3 years

-16.77%

-8.59%

-8.18%

Max Drawdown (5Y)

Largest decline over 5 years

-21.40%

-14.45%

-6.95%

Max Drawdown (10Y)

Largest decline over 10 years

-27.48%

-21.42%

-6.06%

Current Drawdown

Current decline from peak

-0.80%

-0.58%

-0.22%

Average Drawdown

Average peak-to-trough decline

-3.50%

-2.74%

-0.76%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.88%

1.87%

+0.01%

Volatility

XWD.TO vs. XMW.TO - Volatility Comparison

iShares MSCI World Index ETF (XWD.TO) has a higher volatility of 3.61% compared to iShares MSCI Min Vol Global Index ETF (XMW.TO) at 1.87%. This indicates that XWD.TO's price experiences larger fluctuations and is considered to be riskier than XMW.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XWD.TOXMW.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.61%

1.87%

+1.74%

Volatility (6M)

Calculated over the trailing 6-month period

9.03%

5.59%

+3.44%

Volatility (1Y)

Calculated over the trailing 1-year period

11.67%

7.67%

+4.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.71%

8.70%

+5.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.36%

11.07%

+4.29%

XWD.TO vs. XMW.TO - Expense Ratio Comparison

Both XWD.TO and XMW.TO have an expense ratio of 0.48%.

Dividends

XWD.TO vs. XMW.TO - Dividend Comparison

XWD.TO's dividend yield for the trailing twelve months is around 1.19%, less than XMW.TO's 1.52% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
XWD.TO
iShares MSCI World Index ETF		1.19%1.33%1.19%1.39%1.36%1.21%1.06%1.77%1.94%1.63%1.83%1.84%

Frequently Asked Questions

XWD.TO and XMW.TO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Both ETFs have the same 0.48% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

XWD.TO and XMW.TO have the same expense ratio: 0.48% per year.

Both ETFs track Morningstar Gbl GR CAD.

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