CBO.TO vs. XGB.TO
CBO.TO (iShares 1-5 Year Laddered Corporate Bond Index ETF) and XGB.TO (iShares Core Canadian Government Bond Index ETF) are both Canadian Government Bonds funds from iShares - CBO.TO tracks the Morningstar Can 1-5Y Core Bd GR CAD while XGB.TO tracks the Morningstar Can Core Bd GR CAD. Both are passively managed. Over the past 10 years, CBO.TO returned 2.50%/yr vs 1.03%/yr for XGB.TO. A 0.59 correlation means they provide meaningful diversification when combined. CBO.TO charges 0.28%/yr vs 0.13%/yr for XGB.TO.
Performance
CBO.TO vs. XGB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CBO.TO achieves a 1.02% return, which is significantly lower than XGB.TO's 1.57% return. Over the past 10 years, CBO.TO has outperformed XGB.TO with an annualized return of 2.50%, while XGB.TO has yielded a comparatively lower 1.03% 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%
XGB.TO
- 1D
- -0.16%
- 1M
- 1.63%
- YTD
- 1.57%
- 6M
- 0.52%
- 1Y
- 2.67%
- 3Y*
- 3.45%
- 5Y*
- 0.13%
- 10Y*
- 1.03%
CBO.TO vs. XGB.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% |
XGB.TO iShares Core Canadian Government Bond Index ETF | 1.57% | 1.65% | 3.54% | 5.57% | -12.25% | -3.11% | 8.14% | 6.10% | 1.34% | 1.71% |
Correlation
The correlation between CBO.TO and XGB.TO is 0.74, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2009 | 0.59 |
The correlation between CBO.TO and XGB.TO shifts across timeframes, from 0.59 (all time) to 0.78 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
CBO.TO vs. XGB.TO — Risk / Return Rank
CBO.TO
XGB.TO
CBO.TO vs. XGB.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 Core Canadian Government Bond Index ETF (XGB.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 | XGB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.97 | ||
| Sortino ratioReturn per unit of downside risk | +1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.11 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.32 | 0.94 | +1.39 |
| Martin ratioReturn relative to average drawdown | 8.72 | 2.02 | +6.71 |
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 | XGB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.57 | 0.59 | +0.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.88 | 0.02 | +0.86 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | 0.17 | +0.53 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.94 | 0.52 | +0.42 |
Drawdowns
CBO.TO vs. XGB.TO - Drawdown Comparison
The maximum CBO.TO drawdown since its inception was -11.67%, smaller than the maximum XGB.TO drawdown of -19.53%. Use the drawdown chart below to compare losses from any high point for CBO.TO and XGB.TO.
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Drawdown Indicators
| CBO.TO | XGB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.67% | -19.53% | +7.86% |
Max Drawdown (1Y)Largest decline over 1 year | -1.61% | -2.86% | +1.25% |
Max Drawdown (3Y)Largest decline over 3 years | -1.61% | -5.83% | +4.22% |
Max Drawdown (5Y)Largest decline over 5 years | -8.22% | -16.44% | +8.22% |
Max Drawdown (10Y)Largest decline over 10 years | -11.67% | -19.53% | +7.86% |
Current DrawdownCurrent decline from peak | -0.05% | -5.25% | +5.20% |
Average DrawdownAverage peak-to-trough decline | -0.96% | -3.94% | +2.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 1.33% | -0.90% |
Volatility
CBO.TO vs. XGB.TO - Volatility Comparison
The current volatility for iShares 1-5 Year Laddered Corporate Bond Index ETF (CBO.TO) is 0.83%, while iShares Core Canadian Government Bond Index ETF (XGB.TO) has a volatility of 1.70%. This indicates that CBO.TO experiences smaller price fluctuations and is considered to be less risky than XGB.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 | XGB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 1.70% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 1.86% | 3.49% | -1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.39% | 4.53% | -2.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.97% | 6.92% | -3.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.59% | 5.99% | -2.40% |
CBO.TO vs. XGB.TO - Expense Ratio Comparison
CBO.TO has a 0.28% expense ratio, which is higher than XGB.TO's 0.13% expense ratio.
Dividends
CBO.TO vs. XGB.TO - Dividend Comparison
CBO.TO's dividend yield for the trailing twelve months is around 3.45%, more than XGB.TO's 3.11% 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% |
XGB.TO iShares Core Canadian Government Bond Index ETF | 3.11% | 3.11% | 2.95% | 2.73% | 2.64% | 2.25% | 2.12% | 2.32% | 2.44% | 2.41% | 2.53% | 2.62% |
Frequently Asked Questions
CBO.TO and XGB.TO have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XGB.TO is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XGB.TO is cheaper with a 0.13% expense ratio, compared with 0.28% for CBO.TO.
CBO.TO tracks Morningstar Can 1-5Y Core Bd GR CAD, while XGB.TO tracks Morningstar Can Core Bd GR CAD. Their fees differ too: 0.28% for CBO.TO and 0.13% for XGB.TO.
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