CBO.TO vs. CCBI.TO
CBO.TO (iShares 1-5 Year Laddered Corporate Bond Index ETF) and CCBI.TO (CIBC Canadian Bond Index ETF) are both exchange-traded funds - CBO.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD, while CCBI.TO is a Total Bond Market fund tracking the FTSE Canada Universe Bond Index. Both are passively managed. Over the past 5 years, CBO.TO returned 2.55%/yr vs 0.23%/yr for CCBI.TO. Their 0.47 correlation means their historical movements had little consistent relationship. CBO.TO charges 0.28%/yr vs 0.07%/yr for CCBI.TO.
Performance
CBO.TO vs. CCBI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CBO.TO achieves a 0.94% return, which is significantly higher than CCBI.TO's 0.72% return.
CBO.TO
- 1D
- -0.22%
- 1M
- -0.36%
- 6M
- 0.60%
- YTD
- 0.94%
- 1Y
- 2.64%
- 3Y*
- 5.71%
- 5Y*
- 2.55%
- 10Y*
- 2.45%
- ALL TIME*
- 2.98%
CCBI.TO
- 1D
- -0.39%
- 1M
- -1.26%
- 6M
- 0.01%
- YTD
- 0.72%
- 1Y
- 2.31%
- 3Y*
- 4.22%
- 5Y*
- 0.23%
- 10Y*
- —
- ALL TIME*
- 0.72%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$455.60K | CA$555.30K | CA$472.76K | |
CCBI.TO CIBC Canadian Bond Index ETF | CA$238.27K | CA$302.42K | CA$297.80K |
CBO.TO vs. CCBI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CBO.TO iShares 1-5 Year Laddered Corporate Bond Index ETF | 0.94% | 4.69% | 6.82% | 6.47% | -4.89% | 0.00% |
CCBI.TO CIBC Canadian Bond Index ETF | 0.72% | 2.17% | 4.26% | 4.11% | -9.05% | 2.30% |
Correlation
The correlation between CBO.TO and CCBI.TO is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.59 |
Correlation (3Y) Balances recent behavior with more history. | 0.63 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.48 |
Correlation (All Time) Calculated using the full available price history since Mar 24, 2021 | 0.47 |
The correlation between CBO.TO and CCBI.TO shifts across timeframes, from 0.47 (all time) to 0.63 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
CBO.TO vs. CCBI.TO — Risk / Return Rank
CBO.TO
CCBI.TO
CBO.TO vs. CCBI.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-5 Year Laddered Corporate Bond Index ETF (CBO.TO) and CIBC Canadian Bond Index ETF (CCBI.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.
| CBO.TO | CCBI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.13 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 1.02 | +0.76 |
| Martin ratioReturn relative to average drawdown | 6.69 | 2.49 | +4.20 |
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Drawdowns
CBO.TO vs. CCBI.TO - Drawdown Comparison
The maximum CBO.TO drawdown since its inception was -11.67%, smaller than the maximum CCBI.TO drawdown of -17.72%. Use the drawdown chart below to compare losses from any high point for CBO.TO and CCBI.TO.
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Drawdown Indicators
| CBO.TO | CCBI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.67% | -17.72% | +6.05% |
Max Drawdown (1Y)Largest decline over 1 year | -1.61% | -2.72% | +1.11% |
Max Drawdown (3Y)Largest decline over 3 years | -1.61% | -4.04% | +2.43% |
Max Drawdown (5Y)Largest decline over 5 years | -8.24% | -15.08% | +6.84% |
Max Drawdown (10Y)Largest decline over 10 years | -11.67% | — | — |
Current DrawdownCurrent decline from peak | -0.41% | -2.75% | +2.34% |
Average DrawdownAverage peak-to-trough decline | -0.95% | -7.88% | +6.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 1.12% | -0.69% |
Volatility
CBO.TO vs. CCBI.TO - Volatility Comparison
The current volatility for iShares 1-5 Year Laddered Corporate Bond Index ETF (CBO.TO) is 0.72%, while CIBC Canadian Bond Index ETF (CCBI.TO) has a volatility of 1.35%. This indicates that CBO.TO experiences smaller price fluctuations and is considered to be less risky than CCBI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBO.TO | CCBI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 1.35% | -0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 1.88% | 3.42% | -1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.39% | 4.26% | -1.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.99% | 6.60% | -3.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.59% | 6.96% | -3.37% |
CBO.TO vs. CCBI.TO - Expense Ratio Comparison
CBO.TO has a 0.28% expense ratio, which is higher than CCBI.TO's 0.07% expense ratio.
Dividends
CBO.TO vs. CCBI.TO - Dividend Comparison
CBO.TO's dividend yield for the trailing twelve months is around 3.50%, more than CCBI.TO's 3.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBO.TO iShares 1-5 Year Laddered Corporate Bond Index ETF | 3.50% | 3.37% | 3.09% | 2.81% | 2.67% | 2.55% | 2.55% | 2.65% | 2.74% | 2.80% | 3.03% | 3.86% |
CCBI.TO CIBC Canadian Bond Index ETF | 3.39% | 3.22% | 2.85% | 2.78% | 2.60% | 1.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CBO.TO and CCBI.TO have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CCBI.TO is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CCBI.TO is cheaper with a 0.07% expense ratio, compared with 0.28% for CBO.TO.
CBO.TO is categorized as Canadian Government Bonds, while CCBI.TO is Total Bond Market. CBO.TO tracks Morningstar Can 1-5Y Core Bd GR CAD, while CCBI.TO tracks FTSE Canada Universe Bond Index. They also come from different issuers: iShares and CIBC. Their fees differ too: 0.28% for CBO.TO and 0.07% for CCBI.TO.
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