CACB.TO vs. PSB.TO
CACB.TO (CIBC Active Investment Grade Corporate Bond ETF) and PSB.TO (Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF) are both Corporate Bonds funds. CACB.TO is actively managed, while PSB.TO is passively managed. Over the past 5 years, CACB.TO returned 2.03%/yr vs 2.95%/yr for PSB.TO. At a 0.42 correlation, their price movements are largely independent. CACB.TO charges 0.40%/yr vs 0.28%/yr for PSB.TO.
Performance
CACB.TO vs. PSB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CACB.TO achieves a 1.29% return, which is significantly lower than PSB.TO's 1.60% return.
CACB.TO
- 1D
- 0.15%
- 1M
- -0.52%
- 6M
- 0.69%
- YTD
- 1.29%
- 1Y
- 5.09%
- 3Y*
- 6.21%
- 5Y*
- 2.03%
- 10Y*
- —
PSB.TO
- 1D
- 0.11%
- 1M
- -0.01%
- 6M
- 1.04%
- YTD
- 1.60%
- 1Y
- 4.40%
- 3Y*
- 6.06%
- 5Y*
- 2.95%
- 10Y*
- 2.71%
CACB.TO vs. PSB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CACB.TO CIBC Active Investment Grade Corporate Bond ETF | 1.29% | 4.34% | 7.21% | 8.55% | -9.72% | -2.45% | 9.82% | 7.33% |
PSB.TO Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF | 1.60% | 4.68% | 7.08% | 6.44% | -3.89% | -0.97% | 6.08% | 4.37% |
Correlation
The correlation between CACB.TO and PSB.TO is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jan 22, 2019 | 0.42 |
The correlation between CACB.TO and PSB.TO shifts across timeframes, from 0.40 (1 year) to 0.53 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
CACB.TO vs. PSB.TO — Risk / Return Rank
CACB.TO
PSB.TO
CACB.TO vs. PSB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CIBC Active Investment Grade Corporate Bond ETF (CACB.TO) and Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CACB.TO | PSB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.29 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 3.20 | -1.22 |
| Martin ratioReturn relative to average drawdown | 6.12 | 9.77 | -3.65 |
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Drawdowns
CACB.TO vs. PSB.TO - Drawdown Comparison
The maximum CACB.TO drawdown since its inception was -15.56%, which is greater than PSB.TO's maximum drawdown of -13.24%. Use the drawdown chart below to compare losses from any high point for CACB.TO and PSB.TO.
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Drawdown Indicators
| CACB.TO | PSB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.56% | -13.24% | -2.32% |
Max Drawdown (1Y)Largest decline over 1 year | -2.59% | -1.38% | -1.21% |
Max Drawdown (3Y)Largest decline over 3 years | -3.36% | -1.89% | -1.47% |
Max Drawdown (5Y)Largest decline over 5 years | -14.52% | -7.93% | -6.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.24% | — |
Current DrawdownCurrent decline from peak | -0.82% | -0.17% | -0.65% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -1.00% | -2.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 0.45% | +0.38% |
Volatility
CACB.TO vs. PSB.TO - Volatility Comparison
CIBC Active Investment Grade Corporate Bond ETF (CACB.TO) has a higher volatility of 1.09% compared to Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB.TO) at 0.67%. This indicates that CACB.TO's price experiences larger fluctuations and is considered to be riskier than PSB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CACB.TO | PSB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 0.67% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 1.96% | +0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 2.76% | +0.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.66% | 3.32% | +2.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.16% | 4.85% | +1.31% |
CACB.TO vs. PSB.TO - Expense Ratio Comparison
CACB.TO has a 0.40% expense ratio, which is higher than PSB.TO's 0.28% expense ratio.
Dividends
CACB.TO vs. PSB.TO - Dividend Comparison
CACB.TO's dividend yield for the trailing twelve months is around 4.45%, more than PSB.TO's 3.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CACB.TO CIBC Active Investment Grade Corporate Bond ETF | 4.45% | 4.46% | 4.24% | 3.59% | 3.11% | 2.78% | 2.41% | 2.45% | 0.00% | 0.00% | 0.00% | 0.00% |
PSB.TO Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF | 3.20% | 3.18% | 3.12% | 3.09% | 3.13% | 2.91% | 2.74% | 3.00% | 3.37% | 3.61% | 4.01% | 4.04% |
Frequently Asked Questions
CACB.TO and PSB.TO have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PSB.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PSB.TO is cheaper with a 0.28% expense ratio, compared with 0.40% for CACB.TO.
They also come from different issuers: CIBC and Invesco. Their fees differ too: 0.40% for CACB.TO and 0.28% for PSB.TO.
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