CFRN.TO vs. XCBG.TO
CFRN.TO (CIBC Active Investment Grade Floating Rate Bond ETF) and XCBG.TO (iShares ESG Advanced Canadian Corporate Bond Index ETF) are both Corporate Bonds funds. CFRN.TO is actively managed, while XCBG.TO is passively managed. Over the past 3 years, CFRN.TO returned 4.22%/yr vs 5.88%/yr for XCBG.TO. At a 0.08 correlation, their price movements are largely independent.
Performance
CFRN.TO vs. XCBG.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CFRN.TO achieves a 1.41% return, which is significantly higher than XCBG.TO's 1.23% return.
CFRN.TO
- 1D
- 0.05%
- 1M
- 0.25%
- 6M
- 1.31%
- YTD
- 1.41%
- 1Y
- 3.01%
- 3Y*
- 4.22%
- 5Y*
- 3.43%
- 10Y*
- —
XCBG.TO
- 1D
- -0.05%
- 1M
- -0.33%
- 6M
- 0.57%
- YTD
- 1.23%
- 1Y
- 3.87%
- 3Y*
- 5.88%
- 5Y*
- —
- 10Y*
- —
CFRN.TO vs. XCBG.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CFRN.TO CIBC Active Investment Grade Floating Rate Bond ETF | 1.41% | 3.32% | 5.21% | 5.83% | 1.40% | -0.12% |
XCBG.TO iShares ESG Advanced Canadian Corporate Bond Index ETF | 1.23% | 4.21% | 6.79% | 7.45% | -7.40% | -1.10% |
Correlation
The correlation between CFRN.TO and XCBG.TO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jul 27, 2021 | 0.08 |
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Return for Risk
CFRN.TO vs. XCBG.TO — Risk / Return Rank
CFRN.TO
XCBG.TO
CFRN.TO vs. XCBG.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CIBC Active Investment Grade Floating Rate Bond ETF (CFRN.TO) and iShares ESG Advanced Canadian Corporate Bond Index ETF (XCBG.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.
| CFRN.TO | XCBG.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +1.72 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.24 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 6.68 | 1.92 | +4.75 |
| Martin ratioReturn relative to average drawdown | 31.94 | 6.06 | +25.89 |
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Drawdowns
CFRN.TO vs. XCBG.TO - Drawdown Comparison
The maximum CFRN.TO drawdown since its inception was -1.00%, smaller than the maximum XCBG.TO drawdown of -12.14%. Use the drawdown chart below to compare losses from any high point for CFRN.TO and XCBG.TO.
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Drawdown Indicators
| CFRN.TO | XCBG.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.00% | -12.14% | +11.14% |
Max Drawdown (1Y)Largest decline over 1 year | -0.45% | -2.03% | +1.58% |
Max Drawdown (3Y)Largest decline over 3 years | -0.66% | -2.26% | +1.60% |
Max Drawdown (5Y)Largest decline over 5 years | -1.00% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.71% | +0.71% |
Average DrawdownAverage peak-to-trough decline | -0.15% | -3.47% | +3.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.09% | 0.64% | -0.55% |
Volatility
CFRN.TO vs. XCBG.TO - Volatility Comparison
The current volatility for CIBC Active Investment Grade Floating Rate Bond ETF (CFRN.TO) is 0.22%, while iShares ESG Advanced Canadian Corporate Bond Index ETF (XCBG.TO) has a volatility of 0.81%. This indicates that CFRN.TO experiences smaller price fluctuations and is considered to be less risky than XCBG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CFRN.TO | XCBG.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.22% | 0.81% | -0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 0.83% | 2.37% | -1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.33% | 3.01% | -1.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.10% | 4.19% | -2.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.78% | 4.19% | -2.41% |
Dividends
CFRN.TO vs. XCBG.TO - Dividend Comparison
CFRN.TO's dividend yield for the trailing twelve months is around 3.17%, less than XCBG.TO's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CFRN.TO CIBC Active Investment Grade Floating Rate Bond ETF | 3.17% | 3.47% | 4.46% | 4.43% | 2.26% | 1.26% | 1.74% | 1.70% |
XCBG.TO iShares ESG Advanced Canadian Corporate Bond Index ETF | 3.97% | 3.84% | 3.61% | 3.19% | 2.99% | 0.87% | 0.00% | 0.00% |
Frequently Asked Questions
CFRN.TO and XCBG.TO have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: CIBC and iShares.
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