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VXM ETF · CI First Asset Morningstar International Value Index ETF
The VXM Exchange Traded Fund (ETF) is provided by CI. It is built to track an index: Morningstar Developed Markets ex-North America Target Value Index. The VXM ETF provides physical exposure, so by buying it you actually own parts of all the 200 underlying holdings. This share class generates a stream of income by distributing dividends.
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This fund is part ofDeveloped Market Blended Cap1M perf.+0.68%
Last price
$52.19
1M perf.
-0.62%
1M flows
+€62M
AuM
€575M
TER
0.66%
Rating
ESG Consensus®
VXM
$52.19
Performance & flows
Segment for quartile rank
March 9, 2026 → June 8, 2026
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VXM
$51.95
+3.88%
Developed Market Blended Cap
+8.34%
Historic performance and flows
| 1M | 3M | 1Y | 3Y | 5Y | MTD | QTD | YTD | ||
|---|---|---|---|---|---|---|---|---|---|
| Perf. | -0.62%  | +3.88% | +35.55%  | +109.23% | +141.99% | -1.62% | +3.31% | +9.33%  | |
| Flows |
Key fund info
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This ETF's jurisdiction country is not in your region (Europe and Middle East) ·
Main characteristics
More details
NAV
6/8/2026
$51.97
1D NAV change
-0.99%
Dividend policy
Replication method
Direct (Physical)
Replication model
Full replication
No. of holdings
200
Inception date
11/13/2014
Jurisdiction
Canada
Distribution
Canada
Legal structure
Unit Investment Trust
Base currency
CAD
Dividend distribution
Trailing 12-month distr. yield
Distribution frequency
Last distribution
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Classification
Product type
Asset class
Factors
N/A
Investment strategy
The Fund has been designed to replicate, to the extent possible, the performance of the Morningstar® Developed Markets ex-North America Target Value IndexTM (the "Index"), net of expenses. The Index is comprised of the largest and most liquid equity securities from countries classified by Morningstar as developed markets, excluding North America, based on proprietary research generated by Morningstar. The Index is designed to provide diversified exposure to the top 200 issuers from these markets which are considered to be "good value" based on characteristics like low price to earnings and low price to cash flow ratios. The investment strategy of the Fund is to invest in and hold the constituent securities of the Index. Foreign currency assets held by the Fund attributable to the Units will not be hedged back to the Canadian dollar.
Tax optimisation
PEA
France
UK Reporting Status
United Kingdom
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VXM.B
1M perf.
-0.82%
TER
0.63%
VXM.U
1M perf.
-2.63%
TER
0.6%
VAS
1M perf.
-0.20%
TER
0.07%
XEF
1M perf.
+0.83%
TER
0.23%
ZEA
1M perf.
+1.03%
TER
0.22%
Advertisement
Risk profile
Segment for quartile rank
Historical risk/return profile
| 3M | 1Y | 3Y | 5Y | |
|---|---|---|---|---|
| Returns | +3.88%  | +35.55% | +109.23% | +141.99% |
| Volatility | ||||
| Perf./Volatility | ||||
| Max drawdown |
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Synthetic Risk and Reward Indicator (SRRI)
UCITS
N/A
PRIIPS
N/A
More exposure metrics are available, exclusively in Trackinsight Enterprise
Exposure
Countries
Japan
39.70%
France
8.66%
United Kingdom
5.82%
Italy
5.05%
Germany
5.03%
Norway
4.68%
Spain
4.34%
Austria
4.02%
Unavailable
0.52%
Other
22.17%
Sectors
Industrials
20.94%
Financials
15.94%
Consumer Discretionary
12.31%
Utilities
11.54%
Materials
9.02%
Consumer Staples
7.89%
Energy
7.80%
Information Technology
4.75%
Unavailable
3.79%
Other
6.00%
Diversification
Total weight of top 15 holdings out of 200
Top 15 holdings
Data as of April 30, 2026
NISSHINBO HOLDINGS
FIRST RESOURCES
FERROTEC
GS YUASA
OKI ELECTRIC INDUSTRY
ACCIONA SA
KANAMOTO
EQUINOR
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SBM OFFSHORE
ALPS ALPINE
BPER BANCA
RWE ST
SSAB SWEDISH STAL SR
TOTALENERGIES SE
UACJ CORP
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More risk metrics are available, exclusively in Trackinsight Enterprise
Sustainability
Integrates ESG criteria
No
SDG
ESG Consensus® by Conser
Data as of March 31, 2026
MethodologyOur partner Conser gathers the industry's consensus on the business practices of the underlying holdings. We have computed the following metrics about VXM ETF's sustainability, based on their methodology.
ESG Consensus®
ESG Consensus® is based on the Final Sustainability Grade, which itself consists of 10 grades. Our partner Conser calculates the exact grade, based on market intelligence, using their proprietary ESG Consensus® methodology.
VXM’s has a Final Sustainability Grade of either C+, C, C-, or D.
A+
A
A-
B+
B
B-
C+
C
C-
D
This fund’s exact Final Sustainability Grade is available in Trackinsight Enterprise.
Learn more about Trackinsight EnterpriseHoldings review
73.07% of holdings have positive scoring
27.45% of holdings have negative scoring
11.82%
43.55%
17.70%
6.33%
16.32%
Consensus levels
Strong
Medium
Weak
More sustainability metrics are available, exclusively in Trackinsight Enterprise
Replication
Trackinsight replication rating:
1-year trailing difference
As of May 29, 2026
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VXM
N/A
Replication quality
Calculated over 12m, as of May 29, 2026
Tracking error
Tracking difference
1-year cumulative return difference
Best
Worst
Daily return difference
Average
Worst
Replication information
Index
Index ticker
Index dividend policy
Replication method
Replication model
Issuer
CI
CI ID Card
Number of funds
149
Total AuM
€15.45B
Expense ratio range
0.05% - 2.35%
Average expense ratio
0.6991%
Top 5 funds by CI
Frequently asked questions about VXM
What does CI First Asset Morningstar International Value Index ETF, VXM, invest in?
VXM is a Passive ETF. This ETF provides exposure to Equally Weighted Developed markets ex-North America Equities.
Which benchmark or index does VXM replicate?
VXM tracks the Morningstar Developed Markets ex-North America Target Value Index Hedged NR CAD - CAD, through a full replication replication method.
What is the Total Expense ratio (TER) of VXM?
VXM carries a total expense ratio (TER) of 0.66%, indicating the annual cost for holding the fund.
When was VXM launched?
VXM was introduced to the market on November 13, 2014. It trades on Canada
Who is the ETF issuer of VXM?
CI First Asset Morningstar International Value Index ETF, VXM, is provided by CI. Learn more about CI here.
What is the current assets under management (AUM) of VXM?
VXM oversees €575M in assets as of June 8, 2026.
How has VXM performed lately?
Based on data from June 8, 2026, VXM returned -0.62% over the past month, 3.88% over the last three months and 9.33% year-to-date.
What are the latest inflows or outflows for VXM?
As of June 8, 2026, VXM recorded net flows of +€62M over the last month and +€285M year-to-date.
Does VXM distribute dividends?
VXM follows a distributing dividend policy, meaning it pays out income to investors. As of June 8, 2026, its 12-month trailing yield was 2.16%.
What are the main country or region exposures of VXM?
As of April 30, 2026, VXM has significant geographic allocations in Japan, France and United Kingdom.
In which sector or theme does VXM invest in?
As of April 30, 2026, VXM focuses largely on Industrials, Financials and Consumer Discretionary.
How many securities does VXM hold and how diversified is it?
As of April 30, 2026, VXM holds 200 positions in its portfolio, with 8.90% of assets concentrated in its top 15 holdings.
What are the main positions in VXM?
As of April 30, 2026, VXM top three holdings include NISSHINBO HOLDINGS, FIRST RESOURCES and FERROTEC.
What is the base currency of VXM?
The base currency of VXM is CAD.
Is VXM currency-hedged?
VXM is hedged, meaning it seeks to minimize the impact of currency fluctuations between its base currency and the currency of the underlying assets.
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