CBIL.TO vs. XFLB.TO
CBIL.TO (Global X 0-3 Month T-Bill ETF) and XFLB.TO (iShares Core Canadian 15+ Year Federal Bond Index ETF) are both Canadian Government Bonds funds. CBIL.TO is actively managed, while XFLB.TO is passively managed. Over the past 3 years, CBIL.TO returned 3.63%/yr vs -1.06%/yr for XFLB.TO. At a 0.04 correlation, their price movements are largely independent. CBIL.TO charges 0.10%/yr vs 0.17%/yr for XFLB.TO.
Performance
CBIL.TO vs. XFLB.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 XFLB.TO's 2.42% return.
CBIL.TO
- 1D
- 0.02%
- 1M
- 0.20%
- YTD
- 0.85%
- 6M
- 1.08%
- 1Y
- 2.34%
- 3Y*
- 3.63%
- 5Y*
- —
- 10Y*
- —
XFLB.TO
- 1D
- 0.11%
- 1M
- 3.14%
- YTD
- 2.42%
- 6M
- -0.48%
- 1Y
- -0.95%
- 3Y*
- -1.06%
- 5Y*
- —
- 10Y*
- —
CBIL.TO vs. XFLB.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% |
XFLB.TO iShares Core Canadian 15+ Year Federal Bond Index ETF | 2.42% | -6.17% | -2.12% | 4.54% |
Correlation
The correlation between CBIL.TO and XFLB.TO is 0.00, 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 | 0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
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. XFLB.TO — Risk / Return Rank
CBIL.TO
XFLB.TO
CBIL.TO vs. XFLB.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 Core Canadian 15+ Year Federal Bond Index ETF (XFLB.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 | XFLB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +9.56 | ||
| Sortino ratioReturn per unit of downside risk | +23.65 | ||
| Omega ratioGain probability vs. loss probability | 5.38 | 0.99 | +4.39 |
| Calmar ratioReturn relative to maximum drawdown | 58.74 | -0.14 | +58.87 |
| Martin ratioReturn relative to average drawdown | 339.60 | -0.23 | +339.83 |
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 | XFLB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 9.47 | -0.09 | +9.56 |
Sharpe Ratio (All Time)Calculated using the full available price history | 11.64 | -0.03 | +11.67 |
Drawdowns
CBIL.TO vs. XFLB.TO - Drawdown Comparison
The maximum CBIL.TO drawdown since its inception was -0.06%, smaller than the maximum XFLB.TO drawdown of -20.54%. Use the drawdown chart below to compare losses from any high point for CBIL.TO and XFLB.TO.
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Drawdown Indicators
| CBIL.TO | XFLB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.06% | -20.54% | +20.48% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -7.04% | +7.00% |
Max Drawdown (3Y)Largest decline over 3 years | -0.06% | -15.61% | +15.55% |
Current DrawdownCurrent decline from peak | 0.00% | -9.31% | +9.31% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -8.16% | +8.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 4.09% | -4.08% |
Volatility
CBIL.TO vs. XFLB.TO - Volatility Comparison
The current volatility for Global X 0-3 Month T-Bill ETF (CBIL.TO) is 0.08%, while iShares Core Canadian 15+ Year Federal Bond Index ETF (XFLB.TO) has a volatility of 3.80%. This indicates that CBIL.TO experiences smaller price fluctuations and is considered to be less risky than XFLB.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 | XFLB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.08% | 3.80% | -3.72% |
Volatility (6M)Calculated over the trailing 6-month period | 0.19% | 8.15% | -7.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.25% | 10.27% | -10.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.31% | 15.65% | -15.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.31% | 15.65% | -15.34% |
CBIL.TO vs. XFLB.TO - Expense Ratio Comparison
CBIL.TO has a 0.10% expense ratio, which is lower than XFLB.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. XFLB.TO - Dividend Comparison
CBIL.TO's dividend yield for the trailing twelve months is around 2.29%, less than XFLB.TO's 3.06% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CBIL.TO Global X 0-3 Month T-Bill ETF | 2.29% | 2.59% | 4.38% | 3.39% |
XFLB.TO iShares Core Canadian 15+ Year Federal Bond Index ETF | 3.06% | 3.05% | 2.72% | 2.27% |
Frequently Asked Questions
CBIL.TO and XFLB.TO have a correlation of 0.00, 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 XFLB.TO.
They also come from different issuers: Global X and iShares. Their fees differ too: 0.10% for CBIL.TO and 0.17% for XFLB.TO.
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