CLF.TO vs. FCNVX
CLF.TO (iShares 1-5 Year Laddered Government Bond Index ETF) and FCNVX (Fidelity Conservative Income Bond Institutional Class) are both funds - CLF.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD, while FCNVX is a Total Bond Market fund managed by Fidelity. Over the past 10 years, CLF.TO returned 1.60%/yr vs 3.48%/yr for FCNVX. At a 0.02 correlation, their price movements are largely independent. CLF.TO charges 0.17%/yr vs 0.25%/yr for FCNVX.
Performance
CLF.TO vs. FCNVX - Performance Comparison
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Different Trading Currencies
CLF.TO is traded in CAD, while FCNVX is traded in USD. To make them comparable, the FCNVX values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CLF.TO achieves a 1.00% return, which is significantly lower than FCNVX's 3.37% return. Over the past 10 years, CLF.TO has underperformed FCNVX with an annualized return of 1.60%, while FCNVX has yielded a comparatively higher 3.48% annualized return.
CLF.TO
- 1D
- -0.06%
- 1M
- 0.65%
- YTD
- 1.00%
- 6M
- 1.19%
- 1Y
- 2.80%
- 3Y*
- 4.39%
- 5Y*
- 1.74%
- 10Y*
- 1.60%
FCNVX
- 1D
- -0.05%
- 1M
- 2.16%
- YTD
- 3.37%
- 6M
- 3.11%
- 1Y
- 6.28%
- 3Y*
- 6.61%
- 5Y*
- 6.58%
- 10Y*
- 3.48%
CLF.TO vs. FCNVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CLF.TO iShares 1-5 Year Laddered Government Bond Index ETF | 1.00% | 3.36% | 4.82% | 4.58% | -3.98% | -1.27% | 4.82% | 2.47% | 1.68% | -0.49% |
FCNVX Fidelity Conservative Income Bond Institutional Class | 3.37% | -0.26% | 14.35% | 3.34% | 7.24% | -0.11% | -1.30% | -1.24% | 10.38% | -5.45% |
Correlation
The correlation between CLF.TO and FCNVX is 0.06, 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 | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since May 26, 2011 | 0.02 |
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Return for Risk
CLF.TO vs. FCNVX — Risk / Return Rank
CLF.TO
FCNVX
CLF.TO vs. FCNVX - 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 Fidelity Conservative Income Bond Institutional Class (FCNVX). 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.TO | FCNVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.25 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 1.83 | +0.24 |
| Martin ratioReturn relative to average drawdown | 5.87 | 4.77 | +1.09 |
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Drawdowns
CLF.TO vs. FCNVX - Drawdown Comparison
The maximum CLF.TO drawdown since its inception was -6.91%, smaller than the maximum FCNVX drawdown of -15.21%. Use the drawdown chart below to compare losses from any high point for CLF.TO and FCNVX.
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Drawdown Indicators
| CLF.TO | FCNVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.91% | -15.21% | +8.30% |
Max Drawdown (1Y)Largest decline over 1 year | -1.35% | -3.43% | +2.08% |
Max Drawdown (3Y)Largest decline over 3 years | -1.40% | -6.40% | +5.00% |
Max Drawdown (5Y)Largest decline over 5 years | -6.80% | -6.40% | -0.40% |
Max Drawdown (10Y)Largest decline over 10 years | -6.91% | -14.76% | +7.85% |
Current DrawdownCurrent decline from peak | -0.17% | -0.07% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -1.08% | -4.72% | +3.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 1.31% | -0.83% |
Volatility
CLF.TO vs. FCNVX - Volatility Comparison
iShares 1-5 Year Laddered Government Bond Index ETF (CLF.TO) and Fidelity Conservative Income Bond Institutional Class (FCNVX) have volatilities of 0.67% and 0.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CLF.TO | FCNVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 0.64% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.49% | 3.24% | -1.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.03% | 4.53% | -2.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.99% | 6.39% | -3.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.36% | 6.66% | -3.30% |
CLF.TO vs. FCNVX - Expense Ratio Comparison
CLF.TO has a 0.17% expense ratio, which is lower than FCNVX's 0.25% 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
CLF.TO vs. FCNVX - Dividend Comparison
CLF.TO's dividend yield for the trailing twelve months is around 2.25%, less than FCNVX's 4.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
FCNVX Fidelity Conservative Income Bond Institutional Class | 4.15% | 4.41% | 5.17% | 4.97% | 1.24% | 0.24% | 0.99% | 2.45% | 2.21% | 1.30% | 1.01% | 0.48% |
Frequently Asked Questions
CLF.TO and FCNVX have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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