VS
Compare CI First Asset Morningstar International Value Index ETF (VXM) vs iShares Core MSCI EAFE IMI Index ETF (XEF) to find the best fit for your portfolio. VXM provides Industrials, Finance, and Consumer Cyclicals exposures, while XEF is primarily weighted in Finance, Industrials, and Technology. When evaluating costs, VXM features a management fee (MER) of 0.6%, compared to 0.2% for XEF. Performance-wise, VXM has returned 11.92% year-to-date with +$555 M in net flows, whereas XEF is at 15.33% with +$4 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
VXM
XEF
| AuM | $1,040.82 M | $22,871.64 M |
| Management Fees | 0.60% | 0.20% |
| Exp. ratio | 0.66% | 0.23% |
| Tracking Difference | -0.75% | 0.03% |
Historical performance and flows
As of July 6, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | VXM | +2.37% | +3.15% | +11.92% | +34.94% | +110.78% |
XEF | +5.79% | +11.27% | +15.33% | +27.28% | +74.76% | |
| Flows | VXM | +$100 M | +$287 M | +$555 M | +$774 M | +$912 M |
XEF | +$637 M | +$1,697 M | +$3,905 M | +$6,554 M | +$10,803 M |
VXM vs XEF exposure
Countries
VXM
Japan
39.59%
France
9.32%
Other
51.09%
XEF
Japan
26.03%
United Kingdom
13.71%
Switzerland
9.42%
Germany
8.49%
France
8.34%
Australia
7.37%
Other
26.64%
Sectors
VXM
Industrials
18.77%
Finance
16.57%
Consumer Cyclicals
12.17%
Non-Energy Materials
10.84%
Utilities
9.82%
Consumer Non-Cyclicals
7.80%
Other
24.04%
XEF
Finance
26.37%
Industrials
17.26%
Technology
13.04%
Healthcare
9.51%
Non-Energy Materials
8.29%
Consumer Non-Cyclicals
8.03%
Other
17.49%
As of July 6, 2026
Top 10 Holdings
VXM
Nisshinbo Holdings, Inc.
0.75%
Ferrotec Corp.
0.71%
UACJ Corp.
0.66%
Aurubis AG
0.65%
NHK Spring Co., Ltd.
0.64%
SSAB AB
0.64%
GS Yuasa Corp.
0.63%
Valeo SE
0.62%
ArcelorMittal SA
0.62%
Oki Electric Industry Co., Ltd.
0.61%
XEF
ASML Holding NV
2.55%
HSBC Holdings Plc
1.31%
Roche Holding AG
1.20%
AstraZeneca PLC
1.14%
Novartis AG
1.12%
Nestlé SA
1.06%
Shell Plc
0.96%
Siemens AG
0.95%
BHP Group Ltd.
0.93%
Mitsubishi UFJ Financial Group, Inc.
0.81%
Diversification
VXM
Total weight of top 10 holdings out of 199 total
6.53%
XEF
Total weight of top 10 holdings out of 2,664 total
12.04%
Characteristics
Compare
VXM
XEF
| Provider | CI | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | Morningstar Developed Markets ex-North America Target Value Index Hedged NR CAD - CAD | MSCI EAFE IMI Net Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.80% | 2.30% |
| Meets ESG criteria | No | No |
| Inception Date | November 13, 2014 | April 10, 2013 |
Frequently asked questions about VXM and XEF
Which ETF has performed better year to date: VXM or XEF?
As of July 6, 2026, VXM has returned 11.92% year to date, while XEF has returned 15.33%. XEF is ahead on YTD performance.
Which ETF is larger by assets under management: VXM or XEF?
As of July 6, 2026, VXM manages $1.04 B in assets, while XEF manages $22.87 B. XEF is the larger fund by AUM.
How are VXM and XEF managed?
VXM is passively managed by CI. It tracks the Morningstar Developed Markets ex-North America Target Value Index Hedged NR CAD - CAD benchmark. XEF is passively managed by iShares. It tracks the MSCI EAFE IMI Net Total Return Index - CAD benchmark.
What sectors do VXM and XEF emphasize?
VXM is most exposed to Industrials, Finance, and Consumer Cyclicals. XEF is most exposed to Finance, Industrials, and Technology.
Which ETF is attracting more investor flows: VXM or XEF?
Year to date, VXM has seen +$554.93 M in net flows, compared with +$3,904.66 M for XEF. XEF has attracted more net investor money so far.
How do the fees of VXM and XEF compare?
VXM has an expense ratio of 0.66%, while XEF has an expense ratio of 0.23%.
What are the top holdings of VXM and XEF?
VXM's largest holdings include Nisshinbo Holdings, Inc., Ferrotec Corp., and UACJ Corp.. XEF's top holdings include ASML Holding NV, HSBC Holdings Plc, and Roche Holding AG.
Which ETF is more diversified: VXM or XEF?
VXM holds 199 securities, while XEF holds 2643. On holdings count, XEF is the more diversified portfolio.
Recent articles about VXM and XEF
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