CDX vs. XSB.TO
CDX (Simplify High Yield PLUS Credit Hedge ETF) and XSB.TO (iShares Core Canadian Short Term Bond Index ETF) are both exchange-traded funds - CDX is a High Yield Bonds fund actively managed by Simplify, while XSB.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD. CDX is actively managed, while XSB.TO is passively managed. Over the past 3 years, CDX returned 7.84%/yr vs 3.42%/yr for XSB.TO. At a 0.13 correlation, their price movements are largely independent. CDX charges 0.26%/yr vs 0.10%/yr for XSB.TO.
Performance
CDX vs. XSB.TO - Performance Comparison
Loading charts...
Different Trading Currencies
CDX is traded in USD, while XSB.TO is traded in CAD. To make them comparable, the XSB.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CDX achieves a -1.56% return, which is significantly lower than XSB.TO's -0.83% return.
CDX
- 1D
- -0.09%
- 1M
- 0.33%
- YTD
- -1.56%
- 6M
- -1.47%
- 1Y
- -0.54%
- 3Y*
- 7.84%
- 5Y*
- —
- 10Y*
- —
XSB.TO
- 1D
- -0.18%
- 1M
- -1.11%
- YTD
- -0.83%
- 6M
- -0.03%
- 1Y
- 0.52%
- 3Y*
- 3.42%
- 5Y*
- -0.85%
- 10Y*
- 1.10%
CDX vs. XSB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CDX Simplify High Yield PLUS Credit Hedge ETF | -1.56% | 9.51% | 7.71% | 12.74% | -8.26% |
XSB.TO iShares Core Canadian Short Term Bond Index ETF | -0.83% | 8.66% | -2.39% | 7.22% | -8.59% |
Correlation
The correlation between CDX and XSB.TO is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2022 | 0.13 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CDX vs. XSB.TO — Risk / Return Rank
CDX
XSB.TO
CDX vs. XSB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify High Yield PLUS Credit Hedge ETF (CDX) and iShares Core Canadian Short Term Bond Index ETF (XSB.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.
| CDX | XSB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.04 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 0.28 | -0.45 |
| Martin ratioReturn relative to average drawdown | -0.39 | 0.67 | -1.06 |
Loading charts...
Drawdowns
CDX vs. XSB.TO - Drawdown Comparison
The maximum CDX drawdown since its inception was -13.24%, smaller than the maximum XSB.TO drawdown of -28.27%. Use the drawdown chart below to compare losses from any high point for CDX and XSB.TO.
Loading charts...
Drawdown Indicators
| CDX | XSB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.24% | -28.27% | +15.03% |
Max Drawdown (1Y)Largest decline over 1 year | -4.18% | -3.40% | -0.78% |
Max Drawdown (3Y)Largest decline over 3 years | -8.88% | -7.05% | -1.83% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.85% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.49% | — |
Current DrawdownCurrent decline from peak | -6.57% | -8.46% | +1.89% |
Average DrawdownAverage peak-to-trough decline | -4.35% | -11.08% | +6.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 1.43% | +0.42% |
Volatility
CDX vs. XSB.TO - Volatility Comparison
Simplify High Yield PLUS Credit Hedge ETF (CDX) has a higher volatility of 1.73% compared to iShares Core Canadian Short Term Bond Index ETF (XSB.TO) at 1.18%. This indicates that CDX's price experiences larger fluctuations and is considered to be riskier than XSB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CDX | XSB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.73% | 1.18% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 4.81% | 3.67% | +1.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.80% | 4.74% | +1.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.08% | 6.84% | +4.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.08% | 7.24% | +3.84% |
CDX vs. XSB.TO - Expense Ratio Comparison
CDX has a 0.26% expense ratio, which is higher than XSB.TO's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CDX vs. XSB.TO - Dividend Comparison
CDX's dividend yield for the trailing twelve months is around 8.29%, more than XSB.TO's 3.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CDX Simplify High Yield PLUS Credit Hedge ETF | 8.29% | 7.18% | 12.60% | 5.26% | 7.51% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XSB.TO iShares Core Canadian Short Term Bond Index ETF | 3.10% | 3.15% | 3.05% | 2.67% | 2.28% | 2.05% | 2.21% | 2.39% | 2.39% | 2.36% | 2.36% | 2.50% |
Frequently Asked Questions
CDX and XSB.TO have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XSB.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSB.TO is cheaper with a 0.10% expense ratio, compared with 0.26% for CDX.
CDX is categorized as High Yield Bonds, while XSB.TO is Canadian Government Bonds. They also come from different issuers: Simplify and iShares. Their fees differ too: 0.26% for CDX and 0.10% for XSB.TO.
Find the right allocation for CDX and XSB.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer