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CLF.TO vs. XIU.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CLF.TO vs. XIU.TO

Last updated Jun 5, 2026

CLF.TO (iShares 1-5 Year Laddered Government Bond Index ETF) and XIU.TO (iShares S&P/TSX 60 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 XIU.TO is a Canada Equities fund tracking the S&P/TSX 60 Index. Both are passively managed. Over the past 10 years, CLF.TO returned 1.81%/yr vs 12.74%/yr for XIU.TO. At a correlation of -0.06, they often move in opposite directions. CLF.TO charges 0.17%/yr vs 0.18%/yr for XIU.TO.

Performance

CLF.TO vs. XIU.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares 1-5 Year Laddered Government Bond Index ETF (CLF.TO) and iShares S&P/TSX 60 Index ETF (XIU.TO). The values are adjusted to include any dividend payments, if applicable.

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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 XIU.TO's 11.56% return. Over the past 10 years, CLF.TO has underperformed XIU.TO with an annualized return of 1.81%, while XIU.TO has yielded a comparatively higher 12.74% 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%

XIU.TO

1D
1.29%
1M
5.10%
YTD
11.56%
6M
12.35%
1Y
33.92%
3Y*
23.20%
5Y*
14.66%
10Y*
12.74%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CLF.TO vs. XIU.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
XIU.TO
iShares S&P/TSX 60 Index ETF		11.56%28.89%20.73%11.85%-6.35%28.06%5.27%21.81%-7.82%9.58%

Correlation

The correlation between CLF.TO and XIU.TO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.27

Correlation (3Y)
Calculated over the trailing 3-year period

0.22

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 XIU.TO shifts across timeframes, from -0.06 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.

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iShares 1-5 Year Laddered Government Bond Index ETF

iShares S&P/TSX 60 Index ETF

Often compared with CLF.TO:
CLF.TO vs. XGB.TOCLF.TO vs. XSH.TOCLF.TO vs. TLTCLF.TO vs. XBB.TOCLF.TO vs. CBIL.TOCLF.TO vs. SPYCLF.TO vs. ZSP.TO
Often compared with XIU.TO:
XIU.TO vs. XIC.TOXIU.TO vs. ZCN.TOXIU.TO vs. XDIV.TOXIU.TO vs. XSP.TOXIU.TO vs. HXT.TOXIU.TO vs. SPYXIU.TO vs. XIT.TO

Return for Risk

CLF.TO vs. XIU.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CLF.TO
CLF.TO Risk / Return Rank: 3434
Overall Rank
CLF.TO Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
CLF.TO Sortino Ratio Rank: 3131
Sortino Ratio Rank
CLF.TO Omega Ratio Rank: 3535
Omega Ratio Rank
CLF.TO Calmar Ratio Rank: 3737
Calmar Ratio Rank
CLF.TO Martin Ratio Rank: 3434
Martin Ratio Rank
XIU.TO
XIU.TO Risk / Return Rank: 8787
Overall Rank
XIU.TO Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
XIU.TO Sortino Ratio Rank: 8787
Sortino Ratio Rank
XIU.TO Omega Ratio Rank: 8686
Omega Ratio Rank
XIU.TO Calmar Ratio Rank: 8484
Calmar Ratio Rank
XIU.TO Martin Ratio Rank: 9090
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CLF.TO vs. XIU.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 S&P/TSX 60 Index ETF (XIU.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.TOXIU.TODifference
Sharpe ratioReturn per unit of total volatility
1.22
2.89

-1.68

Sortino ratioReturn per unit of downside risk
1.67
3.86

-2.20

Omega ratioGain probability vs. loss probability

1.23

1.52

-0.30

Calmar ratioReturn relative to maximum drawdown

1.80

4.45

-2.66

Martin ratioReturn relative to average drawdown

5.18

20.69

-15.51

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CLF.TO vs. XIU.TO - Sharpe Ratio Comparison

The current CLF.TO Sharpe Ratio is 1.22, which is lower than the XIU.TO Sharpe Ratio of 2.89. The chart below compares the historical Sharpe Ratios of CLF.TO and XIU.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

CLF.TOXIU.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.22

2.89

-1.68

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.59

1.15

-0.57

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.54

0.85

-0.31

Sharpe Ratio (All Time)

Calculated using the full available price history

0.72

0.51

+0.21

Drawdowns

CLF.TO vs. XIU.TO - Drawdown Comparison

The maximum CLF.TO drawdown since its inception was -6.91%, smaller than the maximum XIU.TO drawdown of -52.31%. Use the drawdown chart below to compare losses from any high point for CLF.TO and XIU.TO.

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Drawdown Indicators

CLF.TOXIU.TODifference

Max Drawdown

Largest peak-to-trough decline

-6.91%

-52.31%

+45.40%

Max Drawdown (1Y)

Largest decline over 1 year

-1.38%

-7.65%

+6.27%

Max Drawdown (3Y)

Largest decline over 3 years

-1.42%

-12.36%

+10.94%

Max Drawdown (5Y)

Largest decline over 5 years

-6.80%

-16.36%

+9.56%

Max Drawdown (10Y)

Largest decline over 10 years

-6.91%

-35.46%

+28.55%

Current Drawdown

Current decline from peak

-0.26%

0.00%

-0.26%

Average Drawdown

Average peak-to-trough decline

-1.08%

-11.62%

+10.54%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.48%

1.64%

-1.16%

Volatility

CLF.TO vs. XIU.TO - Volatility Comparison

The current volatility for iShares 1-5 Year Laddered Government Bond Index ETF (CLF.TO) is 0.72%, while iShares S&P/TSX 60 Index ETF (XIU.TO) has a volatility of 3.43%. This indicates that CLF.TO experiences smaller price fluctuations and is considered to be less risky than XIU.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.TOXIU.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.72%

3.43%

-2.71%

Volatility (6M)

Calculated over the trailing 6-month period

1.62%

9.39%

-7.77%

Volatility (1Y)

Calculated over the trailing 1-year period

2.04%

11.79%

-9.75%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.98%

12.79%

-9.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.37%

15.01%

-11.64%

CLF.TO vs. XIU.TO - Expense Ratio Comparison

CLF.TO has a 0.17% expense ratio, which is lower than XIU.TO's 0.18% 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. XIU.TO - Dividend Comparison

CLF.TO's dividend yield for the trailing twelve months is around 2.25%, more than XIU.TO's 2.17% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
XIU.TO
iShares S&P/TSX 60 Index ETF		2.17%2.39%2.92%3.16%3.02%2.43%3.03%2.87%3.18%2.58%2.65%3.19%

Frequently Asked Questions

CLF.TO and XIU.TO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, CLF.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

CLF.TO is cheaper with a 0.17% expense ratio, compared with 0.18% for XIU.TO.

CLF.TO is categorized as Canadian Government Bonds, while XIU.TO is Canada Equities. CLF.TO tracks Morningstar Can 1-5Y Core Bd GR CAD, while XIU.TO tracks S&P/TSX 60 Index. Their fees differ too: 0.17% for CLF.TO and 0.18% for XIU.TO.

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