CLF.TO vs. XTLH.TO
CLF.TO (iShares 1-5 Year Laddered Government Bond Index ETF) and XTLH.TO (iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged)) are both exchange-traded funds - CLF.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD, while XTLH.TO is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (CAD-Hedged). Both are passively managed. Over the past 3 years, CLF.TO returned 4.19%/yr vs -3.28%/yr for XTLH.TO. A 0.65 correlation means they provide meaningful diversification when combined. CLF.TO charges 0.17%/yr vs 0.18%/yr for XTLH.TO.
Performance
CLF.TO vs. XTLH.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 higher than XTLH.TO's -0.87% 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%
XTLH.TO
- 1D
- 0.16%
- 1M
- 0.29%
- YTD
- -0.87%
- 6M
- -2.15%
- 1Y
- 1.65%
- 3Y*
- -3.28%
- 5Y*
- —
- 10Y*
- —
CLF.TO vs. XTLH.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% | 4.33% |
XTLH.TO iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) | -0.87% | 2.61% | -9.55% | 1.56% |
Correlation
The correlation between CLF.TO and XTLH.TO is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2023 | 0.65 |
The correlation between CLF.TO and XTLH.TO has been stable across timeframes, ranging from 0.64 to 0.65 - a consistent structural relationship.
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Return for Risk
CLF.TO vs. XTLH.TO — Risk / Return Rank
CLF.TO
XTLH.TO
CLF.TO vs. XTLH.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 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) (XTLH.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 | XTLH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.04 | ||
| Sortino ratioReturn per unit of downside risk | +1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.04 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.80 | 0.20 | +1.60 |
| Martin ratioReturn relative to average drawdown | 5.18 | 0.49 | +4.69 |
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 | XTLH.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 0.17 | +1.04 |
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 | -0.15 | +0.87 |
Drawdowns
CLF.TO vs. XTLH.TO - Drawdown Comparison
The maximum CLF.TO drawdown since its inception was -6.91%, smaller than the maximum XTLH.TO drawdown of -22.72%. Use the drawdown chart below to compare losses from any high point for CLF.TO and XTLH.TO.
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Drawdown Indicators
| CLF.TO | XTLH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.91% | -22.72% | +15.81% |
Max Drawdown (1Y)Largest decline over 1 year | -1.38% | -8.37% | +6.99% |
Max Drawdown (3Y)Largest decline over 3 years | -1.42% | -19.47% | +18.05% |
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% | -14.67% | +14.41% |
Average DrawdownAverage peak-to-trough decline | -1.08% | -12.15% | +11.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 3.37% | -2.89% |
Volatility
CLF.TO vs. XTLH.TO - Volatility Comparison
The current volatility for iShares 1-5 Year Laddered Government Bond Index ETF (CLF.TO) is 0.72%, while iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) (XTLH.TO) has a volatility of 2.94%. This indicates that CLF.TO experiences smaller price fluctuations and is considered to be less risky than XTLH.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 | XTLH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 2.94% | -2.22% |
Volatility (6M)Calculated over the trailing 6-month period | 1.62% | 6.42% | -4.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.04% | 9.72% | -7.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.98% | 14.15% | -11.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.37% | 14.15% | -10.78% |
CLF.TO vs. XTLH.TO - Expense Ratio Comparison
CLF.TO has a 0.17% expense ratio, which is lower than XTLH.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. XTLH.TO - Dividend Comparison
CLF.TO's dividend yield for the trailing twelve months is around 2.25%, less than XTLH.TO's 4.61% 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% |
XTLH.TO iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) | 4.61% | 4.42% | 4.32% | 2.67% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CLF.TO and XTLH.TO have a correlation of 0.64, 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 XTLH.TO.
CLF.TO is categorized as Canadian Government Bonds, while XTLH.TO is Government Bonds. CLF.TO tracks Morningstar Can 1-5Y Core Bd GR CAD, while XTLH.TO tracks ICE U.S. Treasury 20+ Year Bond Index (CAD-Hedged). Their fees differ too: 0.17% for CLF.TO and 0.18% for XTLH.TO.
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