CCBI.TO vs. XCB.TO
CCBI.TO (CIBC Canadian Bond Index ETF) and XCB.TO (iShares Core Canadian Corporate Bond Index ETF) are both exchange-traded funds - CCBI.TO is a Total Bond Market fund tracking the FTSE Canada Universe Bond Index, while XCB.TO is a Corporate Bonds fund tracking the FTSE Canada All Corporate Bond Index. Both are passively managed. Over the past 5 years, CCBI.TO returned -0.50%/yr vs 1.91%/yr for XCB.TO. A 0.53 correlation means they provide meaningful diversification when combined. CCBI.TO charges 0.07%/yr vs 0.17%/yr for XCB.TO.
Performance
CCBI.TO vs. XCB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CCBI.TO achieves a 0.83% return, which is significantly lower than XCB.TO's 1.09% return.
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%
XCB.TO
- 1D
- 0.30%
- 1M
- -0.99%
- 6M
- 0.49%
- YTD
- 1.09%
- 1Y
- 3.96%
- 3Y*
- 6.22%
- 5Y*
- 1.91%
- 10Y*
- 2.61%
- ALL TIME*
- 3.79%
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$3.39M | CA$3.61M | CA$3.84M |
CCBI.TO vs. XCB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CCBI.TO CIBC Canadian Bond Index ETF | 0.83% | 2.17% | 4.26% | 4.11% | -9.05% | 2.30% |
XCB.TO iShares Core Canadian Corporate Bond Index ETF | 1.09% | 4.45% | 6.72% | 8.30% | -9.79% | 2.24% |
Correlation
The correlation between CCBI.TO and XCB.TO is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Mar 24, 2021 | 0.53 |
Over the past year, CCBI.TO and XCB.TO have become more correlated (0.76) than their long-term average of 0.53, meaning their price movements have been converging.
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Return for Risk
CCBI.TO vs. XCB.TO — Risk / Return Rank
CCBI.TO
XCB.TO
CCBI.TO vs. XCB.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 Core Canadian Corporate Bond Index ETF (XCB.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 | XCB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.19 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 1.59 | -0.23 |
| Martin ratioReturn relative to average drawdown | 3.35 | 4.68 | -1.32 |
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Drawdowns
CCBI.TO vs. XCB.TO - Drawdown Comparison
The maximum CCBI.TO drawdown since its inception was -17.72%, smaller than the maximum XCB.TO drawdown of -22.59%. Use the drawdown chart below to compare losses from any high point for CCBI.TO and XCB.TO.
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Drawdown Indicators
| CCBI.TO | XCB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.72% | -22.59% | +4.87% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -2.49% | -0.23% |
Max Drawdown (3Y)Largest decline over 3 years | -4.34% | -3.27% | -1.07% |
Max Drawdown (5Y)Largest decline over 5 years | -17.72% | -14.17% | -3.55% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.59% | — |
Current DrawdownCurrent decline from peak | -2.64% | -1.04% | -1.60% |
Average DrawdownAverage peak-to-trough decline | -7.90% | -2.10% | -5.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 0.85% | +0.25% |
Volatility
CCBI.TO vs. XCB.TO - Volatility Comparison
CIBC Canadian Bond Index ETF (CCBI.TO) has a higher volatility of 1.15% compared to iShares Core Canadian Corporate Bond Index ETF (XCB.TO) at 1.05%. This indicates that CCBI.TO's price experiences larger fluctuations and is considered to be riskier than XCB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CCBI.TO | XCB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 1.05% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.34% | 3.10% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.20% | 3.82% | +0.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.82% | 5.68% | +1.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.97% | 7.23% | -0.26% |
CCBI.TO vs. XCB.TO - Expense Ratio Comparison
CCBI.TO has a 0.07% expense ratio, which is lower than XCB.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
CCBI.TO vs. XCB.TO - Dividend Comparison
CCBI.TO's dividend yield for the trailing twelve months is around 3.36%, less than XCB.TO's 4.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CCBI.TO CIBC Canadian Bond Index ETF | 3.36% | 3.22% | 2.85% | 2.78% | 2.60% | 1.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XCB.TO iShares Core Canadian Corporate Bond Index ETF | 4.18% | 4.10% | 4.00% | 3.69% | 3.55% | 3.01% | 2.75% | 2.95% | 3.10% | 3.07% | 3.19% | 3.31% |
Frequently Asked Questions
CCBI.TO and XCB.TO have a correlation of 0.76, 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 0.17% for XCB.TO.
CCBI.TO is categorized as Total Bond Market, while XCB.TO is Corporate Bonds. CCBI.TO tracks FTSE Canada Universe Bond Index, while XCB.TO tracks FTSE Canada All Corporate Bond Index. They also come from different issuers: CIBC Asset Management Inc. and iShares. Their fees differ too: 0.07% for CCBI.TO and 0.17% for XCB.TO.
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