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 $60.13 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: +9.51%, 1-year: +20.00%, 3-year annualised: +21.17%, 5-year annualised: +13.66%, 10-year annualised: +11.08%. Past performance is not a guarantee of future results. The 3-year Sharpe ratio is 1.93, 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 2.05%, 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 (35.2%), Energy (15.9%), Industrials (10.6%). 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 $401M 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 8.96% and a beta of 0.66 (less volatile than the broad market). Its 3-year Sharpe ratio of 1.93 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
2026-09-10	$60.52	$60.52	$60.06	$60.13	$60.13	4,994
2026-09-09	$60.98	$60.98	$60.60	$60.62	$60.62	6,320
2026-09-08	$61.45	$61.45	$61.02	$61.02	$61.02	8,688
2026-09-04	$61.58	$61.88	$61.58	$61.67	$61.67	4,100
2026-09-03	$61.58	$61.75	$61.58	$61.75	$61.75	3,263
2026-09-02	$60.84	$61.10	$60.84	$61.10	$61.10	3,112
2026-09-01	$60.96	$60.96	$60.56	$60.56	$60.56	2,501
2026-08-31	$61.10	$61.24	$60.89	$60.97	$60.97	5,343
2026-08-28	$61.43	$61.43	$61.16	$61.27	$61.27	3,301
2026-08-27	$61.32	$61.33	$61.27	$61.33	$61.33	3,672

#	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	35.22%
Energy	15.86%
Industrials	10.61%
Basic Materials	9.48%
Consumer Defensive	8.67%
Utilities	6.85%
Consumer Cyclicals	5.35%
Communication Services	4.37%
Technology	3.58%
Real Estate	0.00%
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