Both Canon ELPH 360 HS and YI M1 have 20.0 MP resolution sensors but Canon ELPH 360 HS's sensor is 1/2.3' (6.17 x 4.55 mm ) and YI M1's sensor is Four Thirds (17.3 x 13 mm ).
Since YI M1's has a larger sensor area with the same resolution, this means that it also has a larger pixel area hence better light collecting capacity for a given aperture compared to Canon ELPH 360 HS.
Below you can see the 360 HS and M1 sensor size comparison.
As seen above, YI M1 has a 8.0x Larger sensor area than Canon ELPH 360 HS. Larger sensors give photographer more control on the depth of field and blurry background compared to smaller sensor when shot in same focal length and aperture.