PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
CLF.TO vs. XSHG.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CLF.TO vs. XSHG.TO

Last updated Jun 5, 2026

CLF.TO (iShares 1-5 Year Laddered Government Bond Index ETF) and XSHG.TO (iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF) are both Canadian Government Bonds funds from iShares tracking the Morningstar Can 1-5Y Core Bd GR CAD. Both are passively managed. Over the past 3 years, CLF.TO returned 4.19%/yr vs 5.72%/yr for XSHG.TO. A 0.52 correlation means they provide meaningful diversification when combined. Both charge a 0.17% expense ratio.

Performance

CLF.TO vs. XSHG.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 ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF (XSHG.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, CLF.TO achieves a 0.91% return, which is significantly lower than XSHG.TO's 1.14% 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%

XSHG.TO

1D
-0.03%
1M
0.90%
YTD
1.14%
6M
1.20%
1Y
3.43%
3Y*
5.72%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021
CLF.TO
iShares 1-5 Year Laddered Government Bond Index ETF		0.91%3.36%4.82%4.58%-3.98%-1.05%
XSHG.TO
iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF		1.14%4.53%6.86%6.41%-4.26%-0.58%

Correlation

The correlation between CLF.TO and XSHG.TO is 0.74, 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

0.74

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

0.60

Correlation (All Time)
Calculated using the full available price history since Jul 28, 2021

0.52

Over the past year, CLF.TO and XSHG.TO have become more correlated (0.74) than their long-term average of 0.52, meaning their price movements have been converging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares 1-5 Year Laddered Government Bond Index ETF

iShares ESG Advanced 1-5 Year Canadian Corporate Bond 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 XSHG.TO:
XSHG.TO vs. XSAB.TOXSHG.TO vs. XCBG.TOXSHG.TO vs. XSTB.TOXSHG.TO vs. VFV.TOXSHG.TO vs. BSVXSHG.TO vs. ZBI.TOXSHG.TO vs. XSH.TO

Return for Risk

CLF.TO vs. XSHG.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
XSHG.TO
XSHG.TO Risk / Return Rank: 6060
Overall Rank
XSHG.TO Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
XSHG.TO Sortino Ratio Rank: 6262
Sortino Ratio Rank
XSHG.TO Omega Ratio Rank: 7171
Omega Ratio Rank
XSHG.TO Calmar Ratio Rank: 5151
Calmar Ratio Rank
XSHG.TO Martin Ratio Rank: 5656
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. XSHG.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 ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF (XSHG.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.TOXSHG.TODifference
Sharpe ratioReturn per unit of total volatility
1.22
1.95

-0.73

Sortino ratioReturn per unit of downside risk
1.67
2.84

-1.17

Omega ratioGain probability vs. loss probability

1.23

1.42

-0.19

Calmar ratioReturn relative to maximum drawdown

1.80

2.47

-0.68

Martin ratioReturn relative to average drawdown

5.18

9.54

-4.36

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. XSHG.TO - Sharpe Ratio Comparison

The current CLF.TO Sharpe Ratio is 1.22, which is lower than the XSHG.TO Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of CLF.TO and XSHG.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.

Loading charts...

Sharpe Ratios by Period

CLF.TOXSHG.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.22

1.95

-0.73

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

1.01

-0.29

Drawdowns

CLF.TO vs. XSHG.TO - Drawdown Comparison

The maximum CLF.TO drawdown since its inception was -6.91%, smaller than the maximum XSHG.TO drawdown of -7.40%. Use the drawdown chart below to compare losses from any high point for CLF.TO and XSHG.TO.

Loading charts...

Drawdown Indicators

CLF.TOXSHG.TODifference

Max Drawdown

Largest peak-to-trough decline

-6.91%

-7.40%

+0.49%

Max Drawdown (1Y)

Largest decline over 1 year

-1.38%

-1.44%

+0.06%

Max Drawdown (3Y)

Largest decline over 3 years

-1.42%

-1.44%

+0.02%

Max Drawdown (5Y)

Largest decline over 5 years

-6.80%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-6.91%

—

—

Current Drawdown

Current decline from peak

-0.26%

-0.03%

-0.23%

Average Drawdown

Average peak-to-trough decline

-1.08%

-1.84%

+0.76%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.48%

0.37%

+0.11%

Volatility

CLF.TO vs. XSHG.TO - Volatility Comparison

iShares 1-5 Year Laddered Government Bond Index ETF (CLF.TO) has a higher volatility of 0.72% compared to iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF (XSHG.TO) at 0.68%. This indicates that CLF.TO's price experiences larger fluctuations and is considered to be riskier than XSHG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

CLF.TOXSHG.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.72%

0.68%

+0.04%

Volatility (6M)

Calculated over the trailing 6-month period

1.62%

1.52%

+0.10%

Volatility (1Y)

Calculated over the trailing 1-year period

2.04%

1.82%

+0.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.98%

2.79%

+0.19%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.37%

2.79%

+0.58%

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

Both CLF.TO and XSHG.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. XSHG.TO - Dividend Comparison

CLF.TO's dividend yield for the trailing twelve months is around 2.25%, less than XSHG.TO's 3.72% 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%
XSHG.TO
iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF		3.72%3.64%3.39%2.87%2.69%0.81%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

CLF.TO and XSHG.TO have a correlation of 0.74, 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 XSHG.TO have the same expense ratio: 0.17% per year.

Both ETFs track Morningstar Can 1-5Y Core Bd GR CAD.

Portfolio Optimizer

Find the right allocation for CLF.TO and XSHG.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer