CLF.TO vs. XIC.TO
CLF.TO (iShares 1-5 Year Laddered Government Bond Index ETF) and XIC.TO (iShares Core S&P/TSX Capped Composite Index 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 XIC.TO is a Canada Equities fund tracking the S&P/TSX Capped Composite Index. Both are passively managed. Over the past 10 years, CLF.TO returned 1.81%/yr vs 12.57%/yr for XIC.TO. At a correlation of -0.06, they often move in opposite directions. CLF.TO charges 0.17%/yr vs 0.06%/yr for XIC.TO.
Performance
CLF.TO vs. XIC.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 XIC.TO's 12.10% return. Over the past 10 years, CLF.TO has underperformed XIC.TO with an annualized return of 1.81%, while XIC.TO has yielded a comparatively higher 12.57% 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%
XIC.TO
- 1D
- 1.22%
- 1M
- 5.07%
- YTD
- 12.10%
- 6M
- 13.12%
- 1Y
- 36.92%
- 3Y*
- 24.30%
- 5Y*
- 14.88%
- 10Y*
- 12.57%
CLF.TO vs. XIC.TO - 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% |
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF | 12.10% | 31.51% | 21.48% | 11.73% | -5.82% | 23.42% | 5.61% | 22.76% | -8.72% | 8.99% |
Correlation
The correlation between CLF.TO and XIC.TO 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 | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2008 | -0.06 |
The correlation between CLF.TO and XIC.TO shifts across timeframes, from -0.06 (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. XIC.TO — Risk / Return Rank
CLF.TO
XIC.TO
CLF.TO vs. XIC.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 S&P/TSX Capped Composite Index ETF (XIC.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 | XIC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.70 | ||
| Sortino ratioReturn per unit of downside risk | -2.09 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.53 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.80 | 3.99 | -2.20 |
| Martin ratioReturn relative to average drawdown | 5.18 | 18.51 | -13.33 |
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 | XIC.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 2.92 | -1.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 1.14 | -0.55 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.84 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.54 | +0.18 |
Drawdowns
CLF.TO vs. XIC.TO - Drawdown Comparison
The maximum CLF.TO drawdown since its inception was -6.91%, smaller than the maximum XIC.TO drawdown of -48.21%. Use the drawdown chart below to compare losses from any high point for CLF.TO and XIC.TO.
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Drawdown Indicators
| CLF.TO | XIC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.91% | -48.21% | +41.30% |
Max Drawdown (1Y)Largest decline over 1 year | -1.38% | -9.29% | +7.91% |
Max Drawdown (3Y)Largest decline over 3 years | -1.42% | -12.27% | +10.85% |
Max Drawdown (5Y)Largest decline over 5 years | -6.80% | -16.24% | +9.44% |
Max Drawdown (10Y)Largest decline over 10 years | -6.91% | -37.21% | +30.30% |
Current DrawdownCurrent decline from peak | -0.26% | 0.00% | -0.26% |
Average DrawdownAverage peak-to-trough decline | -1.08% | -7.04% | +5.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 2.00% | -1.52% |
Volatility
CLF.TO vs. XIC.TO - Volatility Comparison
The current volatility for iShares 1-5 Year Laddered Government Bond Index ETF (CLF.TO) is 0.72%, while iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) has a volatility of 3.61%. This indicates that CLF.TO experiences smaller price fluctuations and is considered to be less risky than XIC.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 | XIC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 3.61% | -2.89% |
Volatility (6M)Calculated over the trailing 6-month period | 1.62% | 10.39% | -8.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.04% | 12.71% | -10.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.98% | 13.14% | -10.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.37% | 14.96% | -11.59% |
CLF.TO vs. XIC.TO - Expense Ratio Comparison
CLF.TO has a 0.17% expense ratio, which is higher than XIC.TO'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. XIC.TO - Dividend Comparison
CLF.TO's dividend yield for the trailing twelve months is around 2.25%, more than XIC.TO's 2.00% 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% |
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF | 2.00% | 2.23% | 2.64% | 2.95% | 3.10% | 2.44% | 3.03% | 3.01% | 3.19% | 2.49% | 2.72% | 3.21% |
Frequently Asked Questions
CLF.TO and XIC.TO 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.
On fees, XIC.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XIC.TO is cheaper with a 0.06% expense ratio, compared with 0.17% for CLF.TO.
CLF.TO is categorized as Canadian Government Bonds, while XIC.TO is Canada Equities. CLF.TO tracks Morningstar Can 1-5Y Core Bd GR CAD, while XIC.TO tracks S&P/TSX Capped Composite Index. Their fees differ too: 0.17% for CLF.TO and 0.06% for XIC.TO.
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