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CLF.TO vs. CCRV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CLF.TO vs. CCRV

Last updated Jun 14, 2026

CLF.TO (iShares 1-5 Year Laddered Government Bond Index ETF) and CCRV (iShares Commodity Curve Carry Strategy ETF) are both exchange-traded funds - CLF.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD, while CCRV is a Commodities fund tracking the CCRV-US - ICE BofA Commodity Enhanced Carry Index. Both are passively managed. At a correlation of -0.09, they often move in opposite directions. CLF.TO charges 0.17%/yr vs 0.40%/yr for CCRV.

Performance

CLF.TO vs. CCRV - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares 1-5 Year Laddered Government Bond Index ETF (CLF.TO) and iShares Commodity Curve Carry Strategy ETF (CCRV). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

CLF.TO is traded in CAD, while CCRV is traded in USD. To make them comparable, the CCRV values have been converted to CAD using the latest available exchange rates.

Returns By Period

CLF.TO

1D
-0.06%
1M
0.88%
YTD
1.00%
6M
1.19%
1Y
2.80%
3Y*
4.39%
5Y*
1.74%
10Y*
1.60%

CCRV

1D
—
1M
—
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

CLF.TO vs. CCRV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
CLF.TO
iShares 1-5 Year Laddered Government Bond Index ETF		1.00%3.36%4.82%4.58%-3.98%-1.27%0.27%
CCRV
iShares Commodity Curve Carry Strategy ETF		0.00%-3.94%14.69%2.96%27.51%33.72%4.74%

Correlation

The correlation between CLF.TO and CCRV is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.04

Correlation (3Y)
Calculated over the trailing 3-year period

-0.13

Correlation (5Y)
Calculated over the trailing 5-year period

-0.10

Correlation (All Time)
Calculated using the full available price history since Sep 3, 2020

-0.09

The correlation between CLF.TO and CCRV shifts across timeframes, from -0.13 (3 years) to 0.04 (1 year), reflecting how their relationship changes across market environments.

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iShares 1-5 Year Laddered Government Bond Index ETF

iShares Commodity Curve Carry Strategy ETF

Often compared with CLF.TO:
CLF.TO vs. XGB.TOCLF.TO vs. XSH.TOCLF.TO vs. TLTCLF.TO vs. XBB.TOCLF.TO vs. CBIL.TOCLF.TO vs. SPYCLF.TO vs. ZSP.TO
Often compared with CCRV:
CCRV vs. SDCICCRV vs. COMCCRV vs. CMDYCCRV vs. USCICCRV vs. SPYCCRV vs. VGTCCRV vs. JPLD

Return for Risk

CLF.TO vs. CCRV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CLF.TO
CLF.TO Risk / Return Rank: 4444
Overall Rank
CLF.TO Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
CLF.TO Sortino Ratio Rank: 4242
Sortino Ratio Rank
CLF.TO Omega Ratio Rank: 4646
Omega Ratio Rank
CLF.TO Calmar Ratio Rank: 4747
Calmar Ratio Rank
CLF.TO Martin Ratio Rank: 4141
Martin Ratio Rank
CCRV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CLF.TO vs. CCRV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 1-5 Year Laddered Government Bond Index ETF (CLF.TO) and iShares Commodity Curve Carry Strategy ETF (CCRV). 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.

CLF.TOCCRVDifference
Sharpe ratioReturn per unit of total volatility
1.38

—

—

Sortino ratioReturn per unit of downside risk
1.92

—

—

Omega ratioGain probability vs. loss probability

1.26

—

—

Calmar ratioReturn relative to maximum drawdown

2.07

—

—

Martin ratioReturn relative to average drawdown

5.87

—

—

CLF.TO vs. CCRV - Sharpe Ratio Comparison

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Drawdowns

CLF.TO vs. CCRV - Drawdown Comparison

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Drawdown Indicators

CLF.TOCCRVDifference

Max Drawdown

Largest peak-to-trough decline

-6.91%

—

—

Max Drawdown (1Y)

Largest decline over 1 year

-1.35%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-1.40%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-6.80%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-6.91%

—

—

Current Drawdown

Current decline from peak

-0.17%

—

—

Average Drawdown

Average peak-to-trough decline

-1.08%

—

—

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.48%

—

—

Volatility

CLF.TO vs. CCRV - Volatility Comparison

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Volatility by Period

CLF.TOCCRVDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.67%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

1.49%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

2.03%

—

—

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.99%

—

—

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.36%

—

—

CLF.TO vs. CCRV - Expense Ratio Comparison

CLF.TO has a 0.17% expense ratio, which is lower than CCRV's 0.40% expense ratio.

Dividends

CLF.TO vs. CCRV - Dividend Comparison

CLF.TO's dividend yield for the trailing twelve months is around 2.25%, while CCRV has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
CCRV
iShares Commodity Curve Carry Strategy ETF		0.00%0.00%4.43%7.26%33.27%26.22%0.00%0.00%0.00%0.00%0.00%0.00%
CLF.TO
iShares 1-5 Year Laddered Government Bond Index ETF		2.25%2.22%2.22%2.23%2.10%1.98%2.15%2.46%2.67%2.91%3.12%3.29%

Frequently Asked Questions

CLF.TO and CCRV have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, CLF.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

CLF.TO is cheaper with a 0.17% expense ratio, compared with 0.40% for CCRV.

CLF.TO is categorized as Canadian Government Bonds, while CCRV is Commodities. CLF.TO tracks Morningstar Can 1-5Y Core Bd GR CAD, while CCRV tracks CCRV-US - ICE BofA Commodity Enhanced Carry Index. Their fees differ too: 0.17% for CLF.TO and 0.40% for CCRV.

Portfolio Optimizer

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