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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 202 underlying holdings. This share class generates a stream of income by distributing dividends.
Last update 4/24/2026, 1:30 PM UTC
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This fund is part ofDeveloped Market Blended Cap1M perf.+8.42%
Last price
$51.44
1M perf.
+2.99%
1M flows
+€56M
AuM
€496M
E/R
0.66%
Rating
ESG Consensus®
VXM
$51.44
Performance & flows
Segment for quartile rank
January 26, 2026 → April 24, 2026
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VXM
$51.24
+3.67%
Developed Market Blended Cap
+2.51%
Historic performance and flows
| 1M | 3M | 1Y | 3Y | 5Y | MTD | QTD | YTD | ||
|---|---|---|---|---|---|---|---|---|---|
| Perf. | +2.99%  | +3.67%  | +45.96%  | +109.03% | +147.34% | +1.89% | +1.89% | +7.83% | |
| Flows |
Key fund info
Segment for quartile rank
This ETF's jurisdiction country is not in your region (Europe and Middle East) ·
Main characteristics
More details
NAV
4/24/2026
$51.26
1D NAV change
-0.48%
Dividend policy
Replication method
Direct (Physical)
Replication model
Full replication
No. of holdings
202
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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E/R
0.63%
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1M perf.
E/R
0.6%
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1M perf.
+4.93%
E/R
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XEF
1M perf.
+6.09%
E/R
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ZEA
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+6.13%
E/R
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Risk profile
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Historical risk/return profile
| 3M | 1Y | 3Y | 5Y | |
|---|---|---|---|---|
| Returns | +3.67% | +45.96% | +109.03% | +147.34% |
| 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
40.51%
France
8.40%
United Kingdom
5.65%
Italy
5.52%
Germany
4.97%
Norway
4.87%
Spain
4.14%
Austria
4.02%
Bermuda
3.26%
Other
19.16%
Sectors
Industrials
21.37%
Financials
15.99%
Consumer Discretionary
12.43%
Utilities
12.10%
Materials
8.80%
Energy
8.32%
Consumer Staples
8.24%
Information Technology
4.37%
Unavailable
2.38%
Other
5.98%
Diversification
Total weight of top 15 holdings out of 202
Top 15 holdings
Data as of March 31, 2026
EQUINOR
IWATANI
TOTALENERGIES SE
ENI
REPSOL YPF SA
ELECTRIC POWER DEVELOPMENT
INPEX
SHIKOKU ELECTRIC POWER
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YARA INTL
POLSKI KONCERN
NO0012851874
MITSUI OSK LINES
HOKURIKU ELEC PW
JPN PETROLEUM EX
AKER SOLUTIONS ASA
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More risk metrics are available, exclusively in Trackinsight Enterprise
Sustainability
Integrates ESG criteria
No
SDG
More sustainability metrics are available, exclusively in Trackinsight Enterprise
Replication
Trackinsight replication rating:
1-year trailing difference
As of March 31, 2026
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VXM
N/A
Replication quality
Calculated over 12m, as of March 31, 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
€15.36B
Expense ratio range
0.05% - 2.35%
Average expense ratio
0.6397%
Top 5 funds by CI
| AuM | ||
|---|---|---|
CSAV | CI First Asset High Interest Savings ETF | €3.05B |
WXM | CI Morningstar Canada Momentum Index ETF | €925M |
CIAI | CI Global Artificial Intelligence ETF | €719M |
BTCX.B | CI Galaxy Bitcoin ETF | €530M |
DGRC | CI Canada Quality Dividend Growth Index ETF | €525M |
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 €496M in assets as of April 24, 2026.
How has VXM performed lately?
Based on data from April 24, 2026, VXM returned 2.99% over the past month, 3.67% over the last three months and 7.83% year-to-date.
What are the latest inflows or outflows for VXM?
As of April 24, 2026, VXM recorded net flows of +€56M over the last month and +€210M year-to-date.
Does VXM distribute dividends?
VXM follows a distributing dividend policy, meaning it pays out income to investors. As of April 24, 2026, its 12-month trailing yield was 2.19%.
What are the main country or region exposures of VXM?
As of March 31, 2026, VXM has significant geographic allocations in Japan, France and United Kingdom.
In which sector or theme does VXM invest in?
As of March 31, 2026, VXM focuses largely on Industrials, Financials and Consumer Discretionary.
How many securities does VXM hold and how diversified is it?
As of March 31, 2026, VXM holds 202 positions in its portfolio, with 8.64% of assets concentrated in its top 15 holdings.
What are the main positions in VXM?
As of March 31, 2026, VXM top three holdings include EQUINOR, IWATANI and TOTALENERGIES SE.
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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