Question 1

What is XMV?

Accepted Answer

XMV (iShares MSCI Canada Minimum Volatility) is a Canadian-listed ETF trading on the TSX in the Canadian Equity category. It tracks the Morningstar Canada GR CAD.

Question 2

What is the XMV ETF price today?

Accepted Answer

XMV last traded at $61.26 CAD on the TSX. See the price chart above for recent performance.

Question 3

What is the XMV MER (management expense ratio)?

Accepted Answer

XMV has a management expense ratio (MER) of 0% per year. This fee is automatically deducted from the fund's assets, so you never pay it directly — but it does reduce your net returns over time. At 0%, XMV is considered a low-cost ETF.

Question 4

What are XMV annualised returns?

Accepted Answer

XMV historical returns: YTD: +11.56%, 1-year: +21.54%, 3-year annualised: +21.28%, 5-year annualised: +13.77%, 10-year annualised: +11.13%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is 1.84, which measures risk-adjusted return.

Question 5

Does XMV pay dividends or distributions?

Accepted Answer

Yes, XMV distributes income to unitholders. The current distribution yield is approximately 2.04%, paid quarterly. Distributions may include dividends, interest, capital gains, or return of capital depending on the fund's holdings. In a TFSA or RRSP, distributions are sheltered from tax.

Question 6

What does XMV invest in?

Accepted Answer

XMV's top holdings include Bank of Montreal (BMO, 3.4%), Royal Bank of Canada (RY, 3.3%), Bank of Nova Scotia (BNS, 3.3%), Great-West Lifeco Inc. (GWO, 3.2%), Canadian National Railway Co (CNR, 3.2%) — and 5 more positions. See the full Top 10 Holdings table above for a complete breakdown. The fund tracks the Morningstar Canada GR CAD.

Question 7

What sectors does XMV invest in?

Accepted Answer

XMV's largest sector exposures are Financial Services (35.0%), Energy (14.0%), Industrials (11.9%). The full sector breakdown is shown in the Sector Weights table on this page.

Question 8

How large is XMV? (Assets under management)

Accepted Answer

XMV has approximately $395M in assets under management (AUM). Larger AUM generally means better liquidity, tighter bid-ask spreads, and a lower risk of the fund being wound down.

Question 9

When was XMV launched?

Accepted Answer

XMV was launched on July 24, 2012, giving it a 14-year track record. A longer history makes it easier to evaluate how the ETF performs across different market cycles.

Question 10

How do I buy XMV in Canada?

Accepted Answer

XMV trades on the TSX under the ticker XMV. You can buy it through any Canadian brokerage, including Wealthsimple Trade (commission-free), Questrade, TD Direct Investing, RBC Direct, and CIBC Investor's Edge. It can be held in a TFSA, RRSP, FHSA, or taxable account.

Question 11

How risky is XMV?

Accepted Answer

XMV has a 1-year volatility of 8.73% and a beta of 0.68 (less volatile than the broad market). Its 3-year Sharpe ratio of 1.84 indicates solid risk-adjusted returns. As with all market-linked investments, past volatility does not predict future risk.

Date	Open	High	Low	Close	Adj Close	Volume
2026-08-20	$61.33	$61.46	$61.13	$61.26	$61.26	7,971
2026-08-19	$61.72	$61.95	$61.44	$61.49	$61.49	5,501
2026-08-18	$61.75	$61.75	$61.60	$61.60	$61.60	1,754
2026-08-17	$61.88	$61.88	$61.73	$61.73	$61.73	608
2026-08-14	$62.13	$62.13	$61.96	$61.98	$61.98	3,959
2026-08-13	$61.83	$62.09	$61.75	$62.08	$62.08	4,619
2026-08-12	$61.63	$61.78	$61.63	$61.78	$61.78	3,355
2026-08-11	$61.52	$61.82	$61.52	$61.62	$61.62	4,480
2026-08-10	$61.43	$61.55	$61.38	$61.47	$61.47	4,972
2026-08-07	$61.48	$61.48	$61.27	$61.43	$61.43	3,664

#	Ticker	Name	Weight
1	BMO	Bank of Montreal	3.38%
2	RY	Royal Bank of Canada	3.30%
3	BNS	Bank of Nova Scotia	3.29%
4	GWO	Great-West Lifeco Inc.	3.25%
5	CNR	Canadian National Railway Co	3.25%
6	TD	Toronto Dominion Bank	3.22%
7	CM	Canadian Imperial Bank Of Commerce	3.06%
8	FTS	Fortis Inc	2.92%
9	NA	National Bank of Canada	2.92%
10	CP	Canadian Pacific Railway Ltd	2.87%

Sector	Weight
Financial Services	35.01%
Energy	14.00%
Industrials	11.86%
Basic Materials	8.84%
Consumer Defensive	8.71%
Utilities	6.99%
Consumer Cyclicals	5.31%
Communication Services	4.74%
Technology	4.15%
Real Estate	0.39%
Healthcare	0.00%

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CIBC Investor's Edge

iShares MSCI Canada Minimum Volatility (XMV : TSX)

Price Chart (30 Days)

Key Statistics

Recent Price History

Annualised Returns

Top 10 Holdings

Sector Weights

ETF Details

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Frequently Asked Questions — XMV