CBO.TO vs. XFR.TO
CBO.TO (iShares 1-5 Year Laddered Corporate Bond Index ETF) and XFR.TO (iShares Floating Rate Index ETF) are both Canadian Government Bonds funds from iShares tracking the Morningstar Can 1-5Y Core Bd GR CAD. Both are passively managed. Over the past 10 years, CBO.TO returned 2.50%/yr vs 2.24%/yr for XFR.TO. At a 0.01 correlation, their price movements are largely independent. CBO.TO charges 0.28%/yr vs 0.14%/yr for XFR.TO.
Performance
CBO.TO vs. XFR.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with CBO.TO having a 1.02% return and XFR.TO slightly lower at 1.00%. Over the past 10 years, CBO.TO has outperformed XFR.TO with an annualized return of 2.50%, while XFR.TO has yielded a comparatively lower 2.24% annualized return.
CBO.TO
- 1D
- -0.05%
- 1M
- 0.94%
- YTD
- 1.02%
- 6M
- 1.01%
- 1Y
- 3.73%
- 3Y*
- 5.68%
- 5Y*
- 2.60%
- 10Y*
- 2.50%
XFR.TO
- 1D
- -0.05%
- 1M
- 0.21%
- YTD
- 1.00%
- 6M
- 1.33%
- 1Y
- 2.96%
- 3Y*
- 3.98%
- 5Y*
- 3.20%
- 10Y*
- 2.24%
CBO.TO vs. XFR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CBO.TO iShares 1-5 Year Laddered Corporate Bond Index ETF | 1.02% | 4.69% | 6.82% | 6.47% | -4.89% | -1.04% | 5.84% | 4.54% | 1.27% | 0.52% |
XFR.TO iShares Floating Rate Index ETF | 1.00% | 3.33% | 4.57% | 5.29% | 1.82% | 0.15% | 0.98% | 2.23% | 1.16% | 1.46% |
Correlation
The correlation between CBO.TO and XFR.TO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2011 | 0.01 |
The correlation between CBO.TO and XFR.TO shifts across timeframes, from 0.01 (all time) to 0.12 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CBO.TO vs. XFR.TO — Risk / Return Rank
CBO.TO
XFR.TO
CBO.TO vs. XFR.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 iShares Floating Rate Index ETF (XFR.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.
| CBO.TO | XFR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.55 | ||
| Sortino ratioReturn per unit of downside risk | -4.69 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.96 | -0.68 |
| Calmar ratioReturn relative to maximum drawdown | 2.32 | 29.79 | -27.47 |
| Martin ratioReturn relative to average drawdown | 8.72 | 88.61 | -79.89 |
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
| CBO.TO | XFR.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.57 | 4.12 | -2.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.88 | 3.92 | -3.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | 1.22 | -0.52 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.94 | 1.19 | -0.24 |
Drawdowns
CBO.TO vs. XFR.TO - Drawdown Comparison
The maximum CBO.TO drawdown since its inception was -11.67%, which is greater than XFR.TO's maximum drawdown of -4.12%. Use the drawdown chart below to compare losses from any high point for CBO.TO and XFR.TO.
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Drawdown Indicators
| CBO.TO | XFR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.67% | -4.12% | -7.55% |
Max Drawdown (1Y)Largest decline over 1 year | -1.61% | -0.10% | -1.51% |
Max Drawdown (3Y)Largest decline over 3 years | -1.61% | -0.30% | -1.31% |
Max Drawdown (5Y)Largest decline over 5 years | -8.22% | -0.30% | -7.92% |
Max Drawdown (10Y)Largest decline over 10 years | -11.67% | -4.12% | -7.55% |
Current DrawdownCurrent decline from peak | -0.05% | -0.05% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.96% | -0.06% | -0.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.03% | +0.40% |
Volatility
CBO.TO vs. XFR.TO - Volatility Comparison
iShares 1-5 Year Laddered Corporate Bond Index ETF (CBO.TO) has a higher volatility of 0.83% compared to iShares Floating Rate Index ETF (XFR.TO) at 0.18%. This indicates that CBO.TO's price experiences larger fluctuations and is considered to be riskier than XFR.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 | XFR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 0.18% | +0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 1.86% | 0.48% | +1.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.39% | 0.72% | +1.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.97% | 0.82% | +2.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.59% | 1.85% | +1.74% |
CBO.TO vs. XFR.TO - Expense Ratio Comparison
CBO.TO has a 0.28% expense ratio, which is higher than XFR.TO's 0.14% expense ratio.
Dividends
CBO.TO vs. XFR.TO - Dividend Comparison
CBO.TO's dividend yield for the trailing twelve months is around 3.45%, more than XFR.TO's 2.77% 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 | 3.45% | 3.37% | 3.09% | 2.81% | 2.67% | 2.55% | 2.55% | 2.65% | 2.74% | 2.80% | 3.03% | 3.86% |
XFR.TO iShares Floating Rate Index ETF | 2.77% | 3.23% | 4.93% | 4.91% | 1.85% | 0.30% | 1.07% | 1.96% | 1.60% | 0.95% | 0.77% | 0.94% |
Frequently Asked Questions
CBO.TO and XFR.TO have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XFR.TO is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XFR.TO is cheaper with a 0.14% expense ratio, compared with 0.28% for CBO.TO.
Both ETFs track Morningstar Can 1-5Y Core Bd GR CAD. Their fees differ too: 0.28% for CBO.TO and 0.14% for XFR.TO.
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