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iShares MSCI Europe IMI Index ETF (XEH) and iShares Core MSCI EAFE IMI Index ETF (XEF) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XEH focuses its top 3 sector exposures on Finance, Industrials, and Healthcare, while XEF leans towards Finance, Industrials, and Technology. When evaluating costs, XEH features a management fee (MER) of 0.25%, compared to 0.2% for XEF. Performance-wise, XEH has returned 9.38% year-to-date with +$2 M in net flows, whereas XEF is at 13.52% with +$5 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
XEH
XEF
| AuM | $294.34 M | $23,705.12 M |
| Management Fees | 0.25% | 0.20% |
| Exp. ratio | 0.25% | 0.22% |
| Tracking Difference | -0.25% | -0.14% |
Historical performance and flows
As of September 10, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XEH | -3.32% | +3.83% | +9.38% | +17.35% | +49.81% |
XEF | -2.22% | +4.71% | +13.52% | +18.43% | +67.33% | |
| Flows | XEH | +$0 M | +$6 M | +$2 M | +$2 M | +$98 M |
XEF | +$685 M | +$1,807 M | +$5,105 M | +$6,914 M | +$11,890 M |
XEH vs XEF exposure
Countries
XEH
United Kingdom
22.11%
Switzerland
14.84%
France
13.09%
Germany
12.98%
Netherlands
9.32%
Other
27.65%
XEF
Japan
24.79%
United Kingdom
13.81%
Switzerland
9.26%
France
8.14%
Germany
8.12%
Australia
7.05%
Other
28.83%
Sectors
XEH
Finance
25.88%
Industrials
17.19%
Healthcare
11.92%
Technology
9.83%
Consumer Non-Cyclicals
8.57%
Other
26.60%
XEF
Finance
27.43%
Industrials
16.38%
Technology
11.80%
Healthcare
9.36%
Consumer Non-Cyclicals
8.07%
Non-Energy Materials
7.48%
Other
19.48%
As of September 10, 2026
Top 10 Holdings
XEH
ASML Holding NV
4.03%
HSBC Holdings Plc
2.29%
Roche Holding AG
1.93%
Novartis AG
1.80%
Nestlé SA
1.65%
AstraZeneca PLC
1.62%
Shell Plc
1.57%
Siemens AG
1.51%
Banco Santander SA
1.27%
Allianz SE
1.18%
XEF
ASML Holding NV
2.51%
HSBC Holdings Plc
1.43%
Roche Holding AG
1.20%
Novartis AG
1.12%
Nestlé SA
1.02%
AstraZeneca PLC
1.01%
Shell Plc
0.98%
Siemens AG
0.94%
Mitsubishi UFJ Financial Group, Inc.
0.92%
BHP Group Ltd.
0.82%
Diversification
XEH
Total weight of top 10 holdings out of 1,192 total
18.84%
XEF
Total weight of top 10 holdings out of 2,648 total
11.94%
Characteristics
Compare
XEH
XEF
| Provider | iShares | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | MSCI Europe IMI 100% Hedged to CAD Net Total Return Index - CAD | MSCI EAFE IMI Net Total Return Index - CAD |
| Replication Method | ||
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.67% | 2.33% |
| Meets ESG criteria | No | No |
| Inception Date | April 22, 2014 | April 10, 2013 |
Frequently asked questions about XEH and XEF
Which ETF has performed better year to date: XEH or XEF?
As of September 10, 2026, XEH has returned 9.38% year to date, while XEF has returned 13.52%. XEF is ahead on YTD performance.
Which ETF is larger by assets under management: XEH or XEF?
As of September 10, 2026, XEH manages $294.34 M in assets, while XEF manages $23.71 B. XEF is the larger fund by AUM.
How are XEH and XEF managed?
XEH is passively managed by iShares. It tracks the MSCI Europe IMI 100% Hedged to CAD Net Total Return Index - CAD benchmark. XEF is passively managed by iShares. It tracks the MSCI EAFE IMI Net Total Return Index - CAD benchmark.
What sectors do XEH and XEF emphasize?
XEH is most exposed to Finance, Industrials, and Healthcare. XEF is most exposed to Finance, Industrials, and Technology.
Which ETF is attracting more investor flows: XEH or XEF?
Year to date, XEH has seen +$2.47 M in net flows, compared with +$5,104.66 M for XEF. XEF has attracted more net investor money so far.
How do the fees of XEH and XEF compare?
XEH has an expense ratio of 0.25%, while XEF has an expense ratio of 0.22%.
What are the top holdings of XEH and XEF?
XEH's largest holdings include ASML Holding NV, HSBC Holdings Plc, and Roche Holding AG. XEF's top holdings include ASML Holding NV, HSBC Holdings Plc, and Roche Holding AG.
Which ETF is more diversified: XEH or XEF?
XEH holds 1180 securities, while XEF holds 2636. On holdings count, XEF is the more diversified portfolio.
Recent articles about XEH and XEF
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