CLF.TO vs. IGSB
CLF.TO (iShares 1-5 Year Laddered Government Bond Index ETF) and IGSB (iShares Short-Term Corporate Bond 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 IGSB is a Corporate Bonds fund tracking the ICE BofAML 1-5 Year US Corporate Index. Both are passively managed. Over the past 10 years, CLF.TO returned 1.81%/yr vs 3.59%/yr for IGSB. At a 0.29 correlation, their price movements are largely independent. CLF.TO charges 0.17%/yr vs 0.06%/yr for IGSB.
Performance
CLF.TO vs. IGSB - Performance Comparison
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Different Trading Currencies
CLF.TO is traded in CAD, while IGSB is traded in USD. To make them comparable, the IGSB 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 0.91% return, which is significantly lower than IGSB's 2.18% return. Over the past 10 years, CLF.TO has underperformed IGSB with an annualized return of 1.81%, while IGSB has yielded a comparatively higher 3.59% annualized return.
CLF.TO
- 1D
- 0.09%
- 1M
- 0.73%
- YTD
- 0.91%
- 6M
- 0.70%
- 1Y
- 2.48%
- 3Y*
- 4.19%
- 5Y*
- 1.74%
- 10Y*
- 1.81%
IGSB
- 1D
- 0.18%
- 1M
- 2.41%
- YTD
- 2.18%
- 6M
- 0.83%
- 1Y
- 6.29%
- 3Y*
- 6.90%
- 5Y*
- 5.39%
- 10Y*
- 3.59%
CLF.TO vs. IGSB - 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 | 0.91% | 3.36% | 4.82% | 4.58% | -3.98% | -1.27% | 5.53% | 3.97% | 1.68% | -0.49% |
IGSB iShares Short-Term Corporate Bond ETF | 2.18% | 2.05% | 13.99% | 4.06% | 1.09% | -1.46% | 3.59% | 1.85% | 9.84% | -5.18% |
Correlation
The correlation between CLF.TO and IGSB is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2009 | 0.29 |
The correlation between CLF.TO and IGSB shifts across timeframes, from 0.19 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CLF.TO vs. IGSB — Risk / Return Rank
CLF.TO
IGSB
CLF.TO vs. IGSB - 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 Short-Term Corporate Bond ETF (IGSB). 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.
| CLF.TO | IGSB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.25 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.80 | 1.72 | +0.08 |
| Martin ratioReturn relative to average drawdown | 5.18 | 4.34 | +0.84 |
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
| CLF.TO | IGSB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 1.38 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 0.88 | -0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.52 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.46 | +0.26 |
Drawdowns
CLF.TO vs. IGSB - Drawdown Comparison
The maximum CLF.TO drawdown since its inception was -6.91%, smaller than the maximum IGSB drawdown of -14.21%. Use the drawdown chart below to compare losses from any high point for CLF.TO and IGSB.
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Drawdown Indicators
| CLF.TO | IGSB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.91% | -14.21% | +7.30% |
Max Drawdown (1Y)Largest decline over 1 year | -1.38% | -3.68% | +2.30% |
Max Drawdown (3Y)Largest decline over 3 years | -1.42% | -5.00% | +3.58% |
Max Drawdown (5Y)Largest decline over 5 years | -6.80% | -8.02% | +1.22% |
Max Drawdown (10Y)Largest decline over 10 years | -6.91% | -12.72% | +5.81% |
Current DrawdownCurrent decline from peak | -0.26% | -0.20% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -1.08% | -5.12% | +4.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 1.45% | -0.97% |
Volatility
CLF.TO vs. IGSB - Volatility Comparison
The current volatility for iShares 1-5 Year Laddered Government Bond Index ETF (CLF.TO) is 0.72%, while iShares Short-Term Corporate Bond ETF (IGSB) has a volatility of 0.79%. This indicates that CLF.TO experiences smaller price fluctuations and is considered to be less risky than IGSB 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 | IGSB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 0.79% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 1.62% | 3.49% | -1.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.04% | 4.57% | -2.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.98% | 6.12% | -3.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.37% | 6.88% | -3.51% |
CLF.TO vs. IGSB - Expense Ratio Comparison
CLF.TO has a 0.17% expense ratio, which is higher than IGSB's 0.06% 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. IGSB - Dividend Comparison
CLF.TO's dividend yield for the trailing twelve months is around 2.25%, less than IGSB's 4.57% 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% | 2.81% | 3.93% | 2.67% | 2.91% | 3.12% | 3.29% |
IGSB iShares Short-Term Corporate Bond ETF | 4.57% | 4.44% | 4.02% | 3.26% | 2.07% | 1.82% | 2.36% | 3.06% | 2.46% | 1.65% | 1.45% | 1.18% |
Frequently Asked Questions
CLF.TO and IGSB have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGSB is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGSB is cheaper with a 0.06% expense ratio, compared with 0.17% for CLF.TO.
CLF.TO is categorized as Canadian Government Bonds, while IGSB is Corporate Bonds. CLF.TO tracks Morningstar Can 1-5Y Core Bd GR CAD, while IGSB tracks ICE BofAML 1-5 Year US Corporate Index. Their fees differ too: 0.17% for CLF.TO and 0.06% for IGSB.
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