CLF.TO vs. FXAIX
CLF.TO (iShares 1-5 Year Laddered Government Bond Index ETF) and FXAIX (Fidelity 500 Index Fund) are both funds - CLF.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, CLF.TO returned 1.60%/yr vs 16.45%/yr for FXAIX. At a correlation of -0.09, they often move in opposite directions. CLF.TO charges 0.17%/yr vs 0.02%/yr for FXAIX.
Performance
CLF.TO vs. FXAIX - Performance Comparison
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Different Trading Currencies
CLF.TO is traded in CAD, while FXAIX is traded in USD. To make them comparable, the FXAIX 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 FXAIX's 10.59% return. Over the past 10 years, CLF.TO has underperformed FXAIX with an annualized return of 1.60%, while FXAIX has yielded a comparatively higher 16.45% annualized return.
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%
FXAIX
- 1D
- 1.70%
- 1M
- 1.53%
- YTD
- 10.59%
- 6M
- 10.29%
- 1Y
- 28.41%
- 3Y*
- 22.88%
- 5Y*
- 16.62%
- 10Y*
- 16.45%
CLF.TO vs. FXAIX - 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% |
FXAIX Fidelity 500 Index Fund | 10.59% | 12.46% | 35.60% | 23.29% | -12.95% | 28.64% | 15.61% | 26.06% | 3.61% | 13.57% |
Correlation
The correlation between CLF.TO and FXAIX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since May 4, 2011 | -0.09 |
The correlation between CLF.TO and FXAIX shifts across timeframes, from -0.09 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CLF.TO vs. FXAIX — Risk / Return Rank
CLF.TO
FXAIX
CLF.TO vs. FXAIX - 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 500 Index Fund (FXAIX). 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 | FXAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.37 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 3.01 | -0.94 |
| Martin ratioReturn relative to average drawdown | 5.87 | 11.29 | -5.42 |
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Drawdowns
CLF.TO vs. FXAIX - Drawdown Comparison
The maximum CLF.TO drawdown since its inception was -6.91%, smaller than the maximum FXAIX drawdown of -27.78%. Use the drawdown chart below to compare losses from any high point for CLF.TO and FXAIX.
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Drawdown Indicators
| CLF.TO | FXAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.91% | -27.78% | +20.87% |
Max Drawdown (1Y)Largest decline over 1 year | -1.35% | -8.94% | +7.59% |
Max Drawdown (3Y)Largest decline over 3 years | -1.40% | -19.39% | +17.99% |
Max Drawdown (5Y)Largest decline over 5 years | -6.80% | -22.57% | +15.77% |
Max Drawdown (10Y)Largest decline over 10 years | -6.91% | -27.78% | +20.87% |
Current DrawdownCurrent decline from peak | -0.17% | -2.11% | +1.94% |
Average DrawdownAverage peak-to-trough decline | -1.08% | -3.41% | +2.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 2.38% | -1.90% |
Volatility
CLF.TO vs. FXAIX - Volatility Comparison
The current volatility for iShares 1-5 Year Laddered Government Bond Index ETF (CLF.TO) is 0.67%, while Fidelity 500 Index Fund (FXAIX) has a volatility of 4.58%. This indicates that CLF.TO experiences smaller price fluctuations and is considered to be less risky than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CLF.TO | FXAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 4.58% | -3.91% |
Volatility (6M)Calculated over the trailing 6-month period | 1.49% | 10.08% | -8.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.03% | 12.77% | -10.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.99% | 17.96% | -14.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.36% | 19.16% | -15.80% |
CLF.TO vs. FXAIX - Expense Ratio Comparison
CLF.TO has a 0.17% expense ratio, which is higher than FXAIX's 0.02% 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
CLF.TO vs. FXAIX - Dividend Comparison
CLF.TO's dividend yield for the trailing twelve months is around 2.25%, more than FXAIX's 1.06% 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% |
FXAIX Fidelity 500 Index Fund | 1.06% | 1.11% | 1.25% | 1.45% | 1.69% | 1.22% | 1.60% | 2.06% | 2.72% | 1.97% | 2.52% | 2.83% |
Frequently Asked Questions
CLF.TO and FXAIX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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