CCBI.TO vs. XAGH.TO
CCBI.TO (CIBC Canadian Bond Index ETF) and XAGH.TO (iShares U.S. Aggregate Bond Index ETF (CAD-Hedged)) are both Total Bond Market funds - CCBI.TO tracks the FTSE Canada Universe Bond Index while XAGH.TO tracks the Bloomberg US Aggregate Bond Index (CAD-Hedged). Both are passively managed. A 0.61 correlation means they provide meaningful diversification when combined. CCBI.TO charges 0.07%/yr vs 0.18%/yr for XAGH.TO.
Performance
CCBI.TO vs. XAGH.TO - Performance Comparison
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Returns By Period
CCBI.TO
- 1D
- -0.11%
- 1M
- -1.48%
- 6M
- 0.27%
- YTD
- 0.83%
- 1Y
- 3.73%
- 3Y*
- 4.09%
- 5Y*
- -0.50%
- 10Y*
- —
- ALL TIME*
- 0.75%
XAGH.TO
- 1D
- 0.11%
- 1M
- -1.55%
- 6M
- -1.51%
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
CCBI.TO CIBC Canadian Bond Index ETF | CA$275.96K | CA$286.08K | CA$301.22K |
| CA$202.64K | CA$217.17K | CA$530.16K |
CCBI.TO vs. XAGH.TO - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
CCBI.TO CIBC Canadian Bond Index ETF | 0.16% |
XAGH.TO iShares U.S. Aggregate Bond Index ETF (CAD-Hedged) | -1.36% |
Correlation
The correlation between CCBI.TO and XAGH.TO is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 20, 2026 | 0.61 |
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Return for Risk
CCBI.TO vs. XAGH.TO — Risk / Return Rank
CCBI.TO
XAGH.TO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CCBI.TO vs. XAGH.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CIBC Canadian Bond Index ETF (CCBI.TO) and iShares U.S. Aggregate Bond Index ETF (CAD-Hedged) (XAGH.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.
| CCBI.TO | XAGH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.18 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | — | — |
| Martin ratioReturn relative to average drawdown | 3.35 | — | — |
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Drawdowns
CCBI.TO vs. XAGH.TO - Drawdown Comparison
The maximum CCBI.TO drawdown since its inception was -17.72%, which is greater than XAGH.TO's maximum drawdown of -3.18%. Use the drawdown chart below to compare losses from any high point for CCBI.TO and XAGH.TO.
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Drawdown Indicators
| CCBI.TO | XAGH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.72% | -3.18% | -14.54% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -4.34% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.72% | — | — |
Current DrawdownCurrent decline from peak | -2.64% | -3.01% | +0.37% |
Average DrawdownAverage peak-to-trough decline | -7.90% | -1.50% | -6.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | — | — |
Volatility
CCBI.TO vs. XAGH.TO - Volatility Comparison
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Volatility by Period
| CCBI.TO | XAGH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.34% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.20% | 5.11% | -0.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.82% | 5.11% | +1.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.97% | 5.11% | +1.86% |
CCBI.TO vs. XAGH.TO - Expense Ratio Comparison
CCBI.TO has a 0.07% expense ratio, which is lower than XAGH.TO's 0.18% 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
CCBI.TO vs. XAGH.TO - Dividend Comparison
CCBI.TO's dividend yield for the trailing twelve months is around 3.36%, more than XAGH.TO's 1.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CCBI.TO CIBC Canadian Bond Index ETF | 3.36% | 3.22% | 2.85% | 2.78% | 2.60% | 1.78% |
XAGH.TO iShares U.S. Aggregate Bond Index ETF (CAD-Hedged) | 1.92% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CCBI.TO and XAGH.TO have a correlation of 0.61, 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 0.18% for XAGH.TO.
CCBI.TO tracks FTSE Canada Universe Bond Index, while XAGH.TO tracks Bloomberg US Aggregate Bond Index (CAD-Hedged). They also come from different issuers: CIBC Asset Management Inc. and iShares. Their fees differ too: 0.07% for CCBI.TO and 0.18% for XAGH.TO.
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