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iShares Core MSCI All Country World ex Canada Index ETF (XAW) and iShares Core Equity ETF (XEQT) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XAW focuses its top 3 sector exposures on Technology, Finance, and Industrials, while XEQT leans towards Technology, Finance, and Industrials. When evaluating costs, XAW features a management fee (MER) of 0.2%, compared to 0.18% for XEQT. Performance-wise, XAW has returned 13.55% year-to-date with +$311 M in net flows, whereas XEQT is at 13.42% with +$7 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
XAW
XEQT
| AuM | $4,397.36 M | $20,578.74 M |
| Management Fees | 0.20% | 0.18% |
| Exp. ratio | 0.22% | 0.20% |
| Tracking Difference | -0.07% | - |
Historical performance and flows
As of July 27, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XAW | -1.47% | +6.95% | +13.55% | +22.89% | +73.70% |
XEQT | -0.34% | +6.85% | +13.42% | +25.18% | +78.14% | |
| Flows | XAW | +$35 M | +$187 M | +$311 M | +$620 M | +$910 M |
XEQT | +$1,034 M | +$3,104 M | +$6,547 M | +$9,062 M | +$14,494 M |
XAW vs XEQT exposure
Countries
XAW
USA
62.84%
Other
37.16%
XEQT
USA
44.97%
Canada
23.95%
Other
31.08%
Sectors
XAW
Technology
36.57%
Finance
17.50%
Industrials
10.20%
Healthcare
8.21%
Consumer Non-Cyclicals
7.90%
Other
19.62%
XEQT
Technology
25.85%
Finance
24.22%
Industrials
10.42%
Non-Energy Materials
7.44%
Other
32.06%
As of July 27, 2026
Top 10 Holdings
XAW
NVIDIA Corp.
4.36%
Apple, Inc.
3.82%
Microsoft Corp.
2.49%
Amazon.com, Inc.
2.10%
Alphabet, Inc.
1.89%
Taiwan Semiconductor Manufacturing Co., Ltd.
1.74%
Broadcom Inc.
1.61%
Alphabet, Inc.
1.50%
Micron Technology, Inc.
1.17%
Meta Platforms, Inc.
1.11%
XEQT
NVIDIA Corp.
3.02%
Apple, Inc.
2.65%
Royal Bank of Canada
2.05%
Microsoft Corp.
1.72%
Amazon.com, Inc.
1.45%
The Toronto-Dominion Bank
1.44%
Alphabet, Inc.
1.30%
Broadcom Inc.
1.11%
Alphabet, Inc.
1.04%
Shopify, Inc.
0.99%
Diversification
XAW
Total weight of top 10 holdings out of 8,123 total
21.80%
XEQT
Total weight of top 10 holdings out of 8,337 total
16.77%
Characteristics
Compare
XAW
XEQT
| Provider | iShares | iShares |
| Management | Passively managed | Actively managed |
| Benchmark | MSCI ACWI ex Canada IMI Net Total Return Index - CAD | - |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.22% | 1.60% |
| Meets ESG criteria | No | No |
| Inception Date | February 10, 2015 | August 7, 2019 |
Frequently asked questions about XAW and XEQT
Which ETF has performed better year to date: XAW or XEQT?
As of July 27, 2026, XAW has returned 13.55% year to date, while XEQT has returned 13.42%. XAW is ahead on YTD performance.
Which ETF is larger by assets under management: XAW or XEQT?
As of July 27, 2026, XAW manages $4.40 B in assets, while XEQT manages $20.58 B. XEQT is the larger fund by AUM.
How are XAW and XEQT managed?
XAW is passively managed by iShares. It tracks the MSCI ACWI ex Canada IMI Net Total Return Index - CAD benchmark. XEQT is actively managed by iShares. It does not track an index.
What sectors do XAW and XEQT emphasize?
XAW is most exposed to Technology, Finance, and Industrials. XEQT is most exposed to Technology, Finance, and Industrials.
Which ETF is attracting more investor flows: XAW or XEQT?
Year to date, XAW has seen +$311.28 M in net flows, compared with +$6,547.11 M for XEQT. XEQT has attracted more net investor money so far.
How do the fees of XAW and XEQT compare?
XAW has an expense ratio of 0.22%, while XEQT has an expense ratio of 0.20%.
What are the top holdings of XAW and XEQT?
XAW's largest holdings include NVIDIA Corp., Apple, Inc., and Alphabet, Inc.. XEQT's top holdings include NVIDIA Corp., Apple, Inc., and Alphabet, Inc..
Which ETF is more diversified: XAW or XEQT?
XAW holds 7993 securities, while XEQT holds 8205. On holdings count, XEQT is the more diversified portfolio.
Recent articles about XAW and XEQT
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