CLF.TO vs. XFLB.TO
CLF.TO (iShares 1-5 Year Laddered Government Bond Index ETF) and XFLB.TO (iShares Core Canadian 15+ Year Federal Bond Index ETF) are both Canadian Government Bonds funds from iShares - CLF.TO tracks the Morningstar Can 1-5Y Core Bd GR CAD while XFLB.TO tracks the Morningstar Can 10+Y Core Bd GR CAD. Both are passively managed. Over the past 3 years, CLF.TO returned 4.19%/yr vs -1.06%/yr for XFLB.TO. A 0.57 correlation means they provide meaningful diversification when combined. Both charge a 0.17% expense ratio.
Performance
CLF.TO vs. XFLB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CLF.TO achieves a 0.91% return, which is significantly lower than XFLB.TO's 2.42% 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%
XFLB.TO
- 1D
- 0.11%
- 1M
- 3.14%
- YTD
- 2.42%
- 6M
- -0.48%
- 1Y
- -1.71%
- 3Y*
- -1.06%
- 5Y*
- —
- 10Y*
- —
CLF.TO vs. XFLB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CLF.TO iShares 1-5 Year Laddered Government Bond Index ETF | 0.91% | 3.36% | 4.82% | 3.61% |
XFLB.TO iShares Core Canadian 15+ Year Federal Bond Index ETF | 2.42% | -6.17% | -2.12% | 4.63% |
Correlation
The correlation between CLF.TO and XFLB.TO is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2023 | 0.57 |
The correlation between CLF.TO and XFLB.TO has been stable across timeframes, ranging from 0.53 to 0.57 - a consistent structural relationship.
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Return for Risk
CLF.TO vs. XFLB.TO — Risk / Return Rank
CLF.TO
XFLB.TO
CLF.TO vs. XFLB.TO - 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 Core Canadian 15+ Year Federal Bond Index ETF (XFLB.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.
| CLF.TO | XFLB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.31 | ||
| Sortino ratioReturn per unit of downside risk | +1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.99 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.80 | -0.14 | +1.93 |
| Martin ratioReturn relative to average drawdown | 5.18 | -0.23 | +5.41 |
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 | XFLB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | -0.09 | +1.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | -0.03 | +0.75 |
Drawdowns
CLF.TO vs. XFLB.TO - Drawdown Comparison
The maximum CLF.TO drawdown since its inception was -6.91%, smaller than the maximum XFLB.TO drawdown of -20.54%. Use the drawdown chart below to compare losses from any high point for CLF.TO and XFLB.TO.
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Drawdown Indicators
| CLF.TO | XFLB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.91% | -20.54% | +13.63% |
Max Drawdown (1Y)Largest decline over 1 year | -1.38% | -7.04% | +5.66% |
Max Drawdown (3Y)Largest decline over 3 years | -1.42% | -15.61% | +14.19% |
Max Drawdown (5Y)Largest decline over 5 years | -6.80% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -6.91% | — | — |
Current DrawdownCurrent decline from peak | -0.26% | -9.31% | +9.05% |
Average DrawdownAverage peak-to-trough decline | -1.08% | -8.16% | +7.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 4.09% | -3.61% |
Volatility
CLF.TO vs. XFLB.TO - Volatility Comparison
The current volatility for iShares 1-5 Year Laddered Government Bond Index ETF (CLF.TO) is 0.72%, while iShares Core Canadian 15+ Year Federal Bond Index ETF (XFLB.TO) has a volatility of 3.80%. This indicates that CLF.TO experiences smaller price fluctuations and is considered to be less risky than XFLB.TO 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 | XFLB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 3.80% | -3.08% |
Volatility (6M)Calculated over the trailing 6-month period | 1.62% | 8.15% | -6.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.04% | 10.27% | -8.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.98% | 15.65% | -12.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.37% | 15.65% | -12.28% |
CLF.TO vs. XFLB.TO - Expense Ratio Comparison
Both CLF.TO and XFLB.TO have an expense ratio of 0.17%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
CLF.TO vs. XFLB.TO - Dividend Comparison
CLF.TO's dividend yield for the trailing twelve months is around 2.25%, less than XFLB.TO's 3.06% 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% | 2.81% | 3.93% | 2.67% | 2.91% | 3.12% | 3.29% |
XFLB.TO iShares Core Canadian 15+ Year Federal Bond Index ETF | 3.06% | 3.05% | 2.72% | 2.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CLF.TO and XFLB.TO have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.17% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
CLF.TO and XFLB.TO have the same expense ratio: 0.17% per year.
CLF.TO tracks Morningstar Can 1-5Y Core Bd GR CAD, while XFLB.TO tracks Morningstar Can 10+Y Core Bd GR CAD.
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