CGR.TO vs. XSB.TO
CGR.TO (iShares Global Real Estate Index ETF) and XSB.TO (iShares Core Canadian Short Term Bond Index ETF) are both exchange-traded funds - CGR.TO is a REIT fund tracking the Morningstar DM REIT NR CAD, while XSB.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD. Both are passively managed. Over the past 10 years, CGR.TO returned 3.96%/yr vs 1.96%/yr for XSB.TO. At a 0.10 correlation, their price movements are largely independent. CGR.TO charges 0.72%/yr vs 0.10%/yr for XSB.TO.
Performance
CGR.TO vs. XSB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CGR.TO achieves a 7.84% return, which is significantly higher than XSB.TO's 1.03% return. Over the past 10 years, CGR.TO has outperformed XSB.TO with an annualized return of 3.96%, while XSB.TO has yielded a comparatively lower 1.96% annualized return.
CGR.TO
- 1D
- -0.12%
- 1M
- -0.61%
- YTD
- 7.84%
- 6M
- 6.09%
- 1Y
- 9.02%
- 3Y*
- 9.97%
- 5Y*
- 3.60%
- 10Y*
- 3.96%
XSB.TO
- 1D
- 0.04%
- 1M
- 0.93%
- YTD
- 1.03%
- 6M
- 0.80%
- 1Y
- 2.95%
- 3Y*
- 4.75%
- 5Y*
- 2.02%
- 10Y*
- 1.96%
CGR.TO vs. XSB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CGR.TO iShares Global Real Estate Index ETF | 7.84% | 2.56% | 9.99% | 7.58% | -21.75% | 28.98% | -9.40% | 14.90% | 2.92% | 3.32% |
XSB.TO iShares Core Canadian Short Term Bond Index ETF | 1.03% | 3.70% | 5.87% | 4.67% | -4.04% | -1.11% | 5.20% | 3.20% | 1.60% | 0.13% |
Correlation
The correlation between CGR.TO and XSB.TO is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Aug 27, 2008 | 0.10 |
Over the past year, CGR.TO and XSB.TO have become more correlated (0.40) than their long-term average of 0.10, meaning their price movements have been converging.
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Return for Risk
CGR.TO vs. XSB.TO — Risk / Return Rank
CGR.TO
XSB.TO
CGR.TO vs. XSB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Real Estate Index ETF (CGR.TO) 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.
| CGR.TO | XSB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.76 | ||
| Sortino ratioReturn per unit of downside risk | -1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.29 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.95 | 2.01 | -1.06 |
| Martin ratioReturn relative to average drawdown | 3.03 | 6.68 | -3.65 |
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
| CGR.TO | XSB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.72 | 1.48 | -0.76 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 0.75 | -0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | 0.58 | -0.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 1.11 | -0.83 |
Drawdowns
CGR.TO vs. XSB.TO - Drawdown Comparison
The maximum CGR.TO drawdown since its inception was -52.90%, which is greater than XSB.TO's maximum drawdown of -8.65%. Use the drawdown chart below to compare losses from any high point for CGR.TO and XSB.TO.
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Drawdown Indicators
| CGR.TO | XSB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.90% | -8.65% | -44.25% |
Max Drawdown (1Y)Largest decline over 1 year | -9.55% | -1.47% | -8.08% |
Max Drawdown (3Y)Largest decline over 3 years | -14.40% | -1.47% | -12.93% |
Max Drawdown (5Y)Largest decline over 5 years | -28.76% | -6.99% | -21.77% |
Max Drawdown (10Y)Largest decline over 10 years | -33.71% | -8.65% | -25.06% |
Current DrawdownCurrent decline from peak | -2.99% | -0.12% | -2.87% |
Average DrawdownAverage peak-to-trough decline | -9.98% | -0.83% | -9.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 0.44% | +2.55% |
Volatility
CGR.TO vs. XSB.TO - Volatility Comparison
iShares Global Real Estate Index ETF (CGR.TO) has a higher volatility of 3.77% compared to iShares Core Canadian Short Term Bond Index ETF (XSB.TO) at 0.78%. This indicates that CGR.TO'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.
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Volatility by Period
| CGR.TO | XSB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.77% | 0.78% | +2.99% |
Volatility (6M)Calculated over the trailing 6-month period | 9.87% | 1.68% | +8.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.51% | 2.00% | +10.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.01% | 2.72% | +12.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.56% | 3.40% | +13.16% |
CGR.TO vs. XSB.TO - Expense Ratio Comparison
CGR.TO has a 0.72% expense ratio, which is higher than XSB.TO's 0.10% expense ratio.
Dividends
CGR.TO vs. XSB.TO - Dividend Comparison
CGR.TO's dividend yield for the trailing twelve months is around 2.33%, less than XSB.TO's 3.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGR.TO iShares Global Real Estate Index ETF | 2.33% | 2.51% | 2.52% | 2.59% | 2.40% | 1.70% | 2.22% | 2.10% | 2.54% | 4.25% | 2.83% | 2.97% |
XSB.TO iShares Core Canadian Short Term Bond Index ETF | 3.11% | 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
CGR.TO and XSB.TO have a correlation of 0.40, 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 0.72% for CGR.TO.
CGR.TO is categorized as REIT, while XSB.TO is Canadian Government Bonds. CGR.TO tracks Morningstar DM REIT NR CAD, while XSB.TO tracks Morningstar Can 1-5Y Core Bd GR CAD. Their fees differ too: 0.72% for CGR.TO and 0.10% for XSB.TO.
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