CBIL.TO vs. CLG.TO
CBIL.TO (Global X 0-3 Month T-Bill ETF) and CLG.TO (iShares 1-10 Year Laddered Government Bond Index ETF) are both Canadian Government Bonds funds. CBIL.TO is actively managed, while CLG.TO is passively managed. Over the past 3 years, CBIL.TO returned 3.63%/yr vs 4.04%/yr for CLG.TO. At a 0.04 correlation, their price movements are largely independent. CBIL.TO charges 0.10%/yr vs 0.17%/yr for CLG.TO.
Performance
CBIL.TO vs. CLG.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CBIL.TO achieves a 0.85% return, which is significantly lower than CLG.TO's 1.12% return.
CBIL.TO
- 1D
- 0.02%
- 1M
- 0.20%
- YTD
- 0.85%
- 6M
- 1.08%
- 1Y
- 2.34%
- 3Y*
- 3.63%
- 5Y*
- —
- 10Y*
- —
CLG.TO
- 1D
- -0.06%
- 1M
- 1.14%
- YTD
- 1.12%
- 6M
- 0.59%
- 1Y
- 2.87%
- 3Y*
- 4.04%
- 5Y*
- 1.34%
- 10Y*
- 1.52%
CBIL.TO vs. CLG.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CBIL.TO Global X 0-3 Month T-Bill ETF | 0.85% | 2.68% | 4.47% | 3.36% |
CLG.TO iShares 1-10 Year Laddered Government Bond Index ETF | 1.12% | 3.35% | 4.30% | 2.87% |
Correlation
The correlation between CBIL.TO and CLG.TO is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Apr 17, 2023 | 0.04 |
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Return for Risk
CBIL.TO vs. CLG.TO — Risk / Return Rank
CBIL.TO
CLG.TO
CBIL.TO vs. CLG.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X 0-3 Month T-Bill ETF (CBIL.TO) and iShares 1-10 Year Laddered Government Bond Index ETF (CLG.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.
| CBIL.TO | CLG.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +8.51 | ||
| Sortino ratioReturn per unit of downside risk | +22.27 | ||
| Omega ratioGain probability vs. loss probability | 5.38 | 1.18 | +4.21 |
| Calmar ratioReturn relative to maximum drawdown | 58.74 | 1.49 | +57.24 |
| Martin ratioReturn relative to average drawdown | 339.60 | 3.71 | +335.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CBIL.TO | CLG.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 9.47 | 0.96 | +8.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.31 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.35 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 11.64 | 0.54 | +11.10 |
Drawdowns
CBIL.TO vs. CLG.TO - Drawdown Comparison
The maximum CBIL.TO drawdown since its inception was -0.06%, smaller than the maximum CLG.TO drawdown of -10.74%. Use the drawdown chart below to compare losses from any high point for CBIL.TO and CLG.TO.
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Drawdown Indicators
| CBIL.TO | CLG.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.06% | -10.74% | +10.68% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -1.93% | +1.89% |
Max Drawdown (3Y)Largest decline over 3 years | -0.06% | -3.38% | +3.32% |
Max Drawdown (5Y)Largest decline over 5 years | — | -9.96% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -10.74% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.56% | +0.56% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -2.00% | +2.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.77% | -0.76% |
Volatility
CBIL.TO vs. CLG.TO - Volatility Comparison
The current volatility for Global X 0-3 Month T-Bill ETF (CBIL.TO) is 0.08%, while iShares 1-10 Year Laddered Government Bond Index ETF (CLG.TO) has a volatility of 1.13%. This indicates that CBIL.TO experiences smaller price fluctuations and is considered to be less risky than CLG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBIL.TO | CLG.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.08% | 1.13% | -1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 0.19% | 2.34% | -2.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.25% | 3.00% | -2.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.31% | 4.31% | -4.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.31% | 4.34% | -4.03% |
CBIL.TO vs. CLG.TO - Expense Ratio Comparison
CBIL.TO has a 0.10% expense ratio, which is lower than CLG.TO's 0.17% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CBIL.TO vs. CLG.TO - Dividend Comparison
CBIL.TO's dividend yield for the trailing twelve months is around 2.29%, less than CLG.TO's 2.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBIL.TO Global X 0-3 Month T-Bill ETF | 2.29% | 2.59% | 4.38% | 3.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CLG.TO iShares 1-10 Year Laddered Government Bond Index ETF | 2.54% | 2.54% | 2.53% | 2.51% | 2.55% | 2.61% | 2.59% | 2.88% | 3.02% | 3.17% | 3.25% | 3.34% |
Frequently Asked Questions
CBIL.TO and CLG.TO have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CBIL.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBIL.TO is cheaper with a 0.10% expense ratio, compared with 0.17% for CLG.TO.
They also come from different issuers: Global X and iShares. Their fees differ too: 0.10% for CBIL.TO and 0.17% for CLG.TO.
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