CBH.TO vs. PSB.TO
CBH.TO (iShares 1-10 Year Laddered Corporate Bond Index ETF) and PSB.TO (Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF) are both Corporate Bonds funds - CBH.TO tracks the Morningstar Can Corp Bd GR CAD while PSB.TO tracks the FTSE Canada Investment Grade 1-5 Year Laddered Corporate Bond Index. Both are passively managed. Over the past 10 years, CBH.TO returned 2.27%/yr vs 2.69%/yr for PSB.TO. At a 0.49 correlation, their price movements are largely independent. Both charge a 0.28% expense ratio.
Performance
CBH.TO vs. PSB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CBH.TO achieves a 1.13% return, which is significantly lower than PSB.TO's 1.49% return. Over the past 10 years, CBH.TO has underperformed PSB.TO with an annualized return of 2.27%, while PSB.TO has yielded a comparatively higher 2.69% annualized return.
CBH.TO
- 1D
- 0.00%
- 1M
- -0.27%
- 6M
- 0.68%
- YTD
- 1.13%
- 1Y
- 4.00%
- 3Y*
- 5.53%
- 5Y*
- 2.08%
- 10Y*
- 2.27%
PSB.TO
- 1D
- -0.11%
- 1M
- -0.07%
- 6M
- 1.15%
- YTD
- 1.49%
- 1Y
- 3.94%
- 3Y*
- 5.98%
- 5Y*
- 2.93%
- 10Y*
- 2.69%
CBH.TO vs. PSB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CBH.TO iShares 1-10 Year Laddered Corporate Bond Index ETF | 1.13% | 4.60% | 6.19% | 6.48% | -6.85% | -2.08% | 7.99% | 5.62% | 0.92% | 0.65% |
PSB.TO Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF | 1.49% | 4.68% | 7.08% | 6.44% | -3.89% | -0.97% | 6.08% | 4.25% | 1.59% | 0.23% |
Correlation
The correlation between CBH.TO and PSB.TO is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2011 | 0.49 |
The correlation between CBH.TO and PSB.TO shifts across timeframes, from 0.49 (all time) to 0.69 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
CBH.TO vs. PSB.TO — Risk / Return Rank
CBH.TO
PSB.TO
CBH.TO vs. PSB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-10 Year Laddered Corporate Bond Index ETF (CBH.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.
| CBH.TO | PSB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.26 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 2.86 | -0.98 |
| Martin ratioReturn relative to average drawdown | 5.63 | 8.73 | -3.11 |
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Drawdowns
CBH.TO vs. PSB.TO - Drawdown Comparison
The maximum CBH.TO drawdown since its inception was -16.36%, 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 CBH.TO and PSB.TO.
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Drawdown Indicators
| CBH.TO | PSB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.36% | -13.24% | -3.12% |
Max Drawdown (1Y)Largest decline over 1 year | -2.14% | -1.38% | -0.76% |
Max Drawdown (3Y)Largest decline over 3 years | -2.14% | -1.89% | -0.25% |
Max Drawdown (5Y)Largest decline over 5 years | -10.50% | -7.93% | -2.57% |
Max Drawdown (10Y)Largest decline over 10 years | -16.36% | -13.24% | -3.12% |
Current DrawdownCurrent decline from peak | -0.61% | -0.28% | -0.33% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -1.00% | -0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 0.45% | +0.26% |
Volatility
CBH.TO vs. PSB.TO - Volatility Comparison
iShares 1-10 Year Laddered Corporate Bond Index ETF (CBH.TO) has a higher volatility of 0.83% compared to Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB.TO) at 0.68%. This indicates that CBH.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
| CBH.TO | PSB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 0.68% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 2.26% | 1.95% | +0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.11% | 2.75% | +0.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.05% | 3.32% | +0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.47% | 4.85% | +1.62% |
CBH.TO vs. PSB.TO - Expense Ratio Comparison
Both CBH.TO and PSB.TO have an expense ratio of 0.28%.
Dividends
CBH.TO vs. PSB.TO - Dividend Comparison
CBH.TO's dividend yield for the trailing twelve months is around 3.39%, more than PSB.TO's 3.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBH.TO iShares 1-10 Year Laddered Corporate Bond Index ETF | 3.39% | 3.32% | 3.21% | 3.28% | 3.17% | 2.91% | 2.92% | 3.33% | 3.65% | 3.82% | 2.59% | 2.94% |
PSB.TO Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF | 3.21% | 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
CBH.TO and PSB.TO have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.28% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
CBH.TO and PSB.TO have the same expense ratio: 0.28% per year.
CBH.TO tracks Morningstar Can Corp Bd GR CAD, while PSB.TO tracks FTSE Canada Investment Grade 1-5 Year Laddered Corporate Bond Index. They also come from different issuers: iShares and Invesco.
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