VS
Compare CI Morningstar Canada Value Index ETF (FXM) vs Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY) to find the best fit for your portfolio. FXM provides Non-Energy Materials, Finance, and Energy exposures, while VDY is primarily weighted in Finance, Energy, and Utilities. When evaluating costs, FXM features a management fee (MER) of 0.6%, compared to 0.2% for VDY. Performance-wise, FXM has returned 21.61% year-to-date with +$15 M in net flows, whereas VDY is at 28.64% with +$2 B. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
FXM
VDY
| AuM | $554.59 M | $9,287.87 M |
| Management Fees | 0.60% | 0.20% |
| Exp. ratio | 0.64% | 0.22% |
| Tracking Difference | -0.96% | -0.03% |
Historical performance and flows
As of October 20, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | FXM | +2.31% | +5.20% | +21.61% | +30.60% | +131.35% |
VDY | +0.53% | +0.68% | +28.64% | +39.49% | +134.56% | |
| Flows | FXM | +$10 M | +$42 M | +$15 M | -$2 M | -$30 M |
VDY | +$107 M | +$331 M | +$2,091 M | +$2,458 M | +$3,973 M |
FXM vs VDY exposure
Countries
FXM
Canada
99.86%
VDY
Canada
96.94%
Sectors
FXM
Non-Energy Materials
22.76%
Finance
16.61%
Energy
16.23%
Utilities
12.78%
Consumer Non-Cyclicals
9.39%
Telecommunications
8.76%
Other
13.46%
VDY
Finance
59.44%
Energy
28.52%
Other
12.04%
As of October 20, 2026
Top 10 Holdings
FXM
Centerra Gold, Inc.
4.70%
Torex Gold Resources, Inc.
3.89%
Russel Metals, Inc.
3.78%
CGI, Inc.
3.62%
The Bank of Nova Scotia
3.61%
OceanaGold Corp.
3.60%
Nutrien Ltd.
3.57%
Cenovus Energy, Inc.
3.57%
Open Text Corp.
3.54%
Parex Resources, Inc.
3.46%
VDY
Royal Bank of Canada
15.65%
The Toronto-Dominion Bank
11.07%
Bank of Montreal
6.59%
The Bank of Nova Scotia
6.17%
Enbridge, Inc.
6.05%
Canadian Imperial Bank of Commerce
5.71%
Canadian Natural Resources Ltd.
5.60%
Suncor Energy, Inc.
4.35%
Manulife Financial Corp.
3.88%
TC Energy Corp.
3.57%
Diversification
FXM
Total weight of top 10 holdings out of 30 total
37.33%
VDY
Total weight of top 10 holdings out of 60 total
68.65%
Characteristics
Compare
FXM
VDY
| Provider | CI | Vanguard |
| Management | Passively managed | Passively managed |
| Benchmark | Morningstar Canada Target Value Total Return Index - CAD | FTSE Canada High Dividend Yield Net Tax Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.81% | 3.25% |
| Meets ESG criteria | No | No |
| Inception Date | February 13, 2012 | November 2, 2012 |
Frequently asked questions about FXM and VDY
Which ETF has performed better year to date: FXM or VDY?
As of October 20, 2026, FXM has returned 21.61% year to date, while VDY has returned 28.64%. VDY is ahead on YTD performance.
Which ETF is larger by assets under management: FXM or VDY?
As of October 20, 2026, FXM manages $554.59 M in assets, while VDY manages $9.29 B. VDY is the larger fund by AUM.
How are FXM and VDY managed?
FXM is passively managed by CI. It tracks the Morningstar Canada Target Value Total Return Index - CAD benchmark. VDY is passively managed by Vanguard. It tracks the FTSE Canada High Dividend Yield Net Tax Index - CAD benchmark.
What sectors do FXM and VDY emphasize?
FXM is most exposed to Non-Energy Materials, Finance, and Energy. VDY is most exposed to Finance, Energy, and Utilities.
Which ETF is attracting more investor flows: FXM or VDY?
Year to date, FXM has seen +$15.50 M in net flows, compared with +$2,091.40 M for VDY. VDY has attracted more net investor money so far.
How do the fees of FXM and VDY compare?
FXM has an expense ratio of 0.64%, while VDY has an expense ratio of 0.22%.
What are the top holdings of FXM and VDY?
FXM's largest holdings include Centerra Gold, Inc., Torex Gold Resources, Inc., and Russel Metals, Inc.. VDY's top holdings include Royal Bank of Canada, The Toronto-Dominion Bank, and Bank of Montreal.
Which ETF is more diversified: FXM or VDY?
FXM holds 30 securities, while VDY holds 60. On holdings count, VDY is the more diversified portfolio.
Recent articles about FXM and VDY
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