CLG.TO vs. CBO.TO
CLG.TO (iShares 1-10 Year Laddered Government Bond Index ETF) and CBO.TO (iShares 1-5 Year Laddered Corporate Bond Index ETF) are both Canadian Government Bonds funds from iShares - CLG.TO tracks the Morningstar Can Core Bd GR CAD while CBO.TO tracks the Morningstar Can 1-5Y Core Bd GR CAD. Both are passively managed. Over the past 10 years, CLG.TO returned 1.52%/yr vs 2.50%/yr for CBO.TO. A 0.62 correlation means they provide meaningful diversification when combined. CLG.TO charges 0.17%/yr vs 0.28%/yr for CBO.TO.
Performance
CLG.TO vs. CBO.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CLG.TO achieves a 1.12% return, which is significantly higher than CBO.TO's 1.02% return. Over the past 10 years, CLG.TO has underperformed CBO.TO with an annualized return of 1.52%, while CBO.TO has yielded a comparatively higher 2.50% annualized return.
CLG.TO
- 1D
- -0.06%
- 1M
- 1.14%
- YTD
- 1.12%
- 6M
- 0.59%
- 1Y
- 2.87%
- 3Y*
- 4.04%
- 5Y*
- 1.34%
- 10Y*
- 1.52%
CBO.TO
- 1D
- -0.05%
- 1M
- 0.94%
- YTD
- 1.02%
- 6M
- 1.01%
- 1Y
- 3.73%
- 3Y*
- 5.68%
- 5Y*
- 2.60%
- 10Y*
- 2.50%
CLG.TO vs. CBO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CLG.TO iShares 1-10 Year Laddered Government Bond Index ETF | 1.12% | 3.35% | 4.30% | 4.82% | -6.21% | -2.23% | 6.66% | 3.40% | 1.69% | -0.02% |
CBO.TO iShares 1-5 Year Laddered Corporate Bond Index ETF | 1.02% | 4.69% | 6.82% | 6.47% | -4.89% | -1.04% | 5.84% | 4.54% | 1.27% | 0.52% |
Correlation
The correlation between CLG.TO and CBO.TO is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2011 | 0.62 |
The correlation between CLG.TO and CBO.TO shifts across timeframes, from 0.62 (all time) to 0.81 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
CLG.TO vs. CBO.TO — Risk / Return Rank
CLG.TO
CBO.TO
CLG.TO vs. CBO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-10 Year Laddered Government Bond Index ETF (CLG.TO) and iShares 1-5 Year Laddered Corporate Bond Index ETF (CBO.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.
| CLG.TO | CBO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.29 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 2.32 | -0.83 |
| Martin ratioReturn relative to average drawdown | 3.71 | 8.72 | -5.01 |
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
| CLG.TO | CBO.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.96 | 1.57 | -0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.31 | 0.88 | -0.57 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 0.70 | -0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.94 | -0.41 |
Drawdowns
CLG.TO vs. CBO.TO - Drawdown Comparison
The maximum CLG.TO drawdown since its inception was -10.74%, smaller than the maximum CBO.TO drawdown of -11.67%. Use the drawdown chart below to compare losses from any high point for CLG.TO and CBO.TO.
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Drawdown Indicators
| CLG.TO | CBO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.74% | -11.67% | +0.93% |
Max Drawdown (1Y)Largest decline over 1 year | -1.93% | -1.61% | -0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -3.38% | -1.61% | -1.77% |
Max Drawdown (5Y)Largest decline over 5 years | -9.96% | -8.22% | -1.74% |
Max Drawdown (10Y)Largest decline over 10 years | -10.74% | -11.67% | +0.93% |
Current DrawdownCurrent decline from peak | -0.56% | -0.05% | -0.51% |
Average DrawdownAverage peak-to-trough decline | -2.00% | -0.96% | -1.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.43% | +0.34% |
Volatility
CLG.TO vs. CBO.TO - Volatility Comparison
iShares 1-10 Year Laddered Government Bond Index ETF (CLG.TO) has a higher volatility of 1.13% compared to iShares 1-5 Year Laddered Corporate Bond Index ETF (CBO.TO) at 0.83%. This indicates that CLG.TO's price experiences larger fluctuations and is considered to be riskier than CBO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CLG.TO | CBO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 0.83% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 2.34% | 1.86% | +0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.00% | 2.39% | +0.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.31% | 2.97% | +1.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.34% | 3.59% | +0.75% |
CLG.TO vs. CBO.TO - Expense Ratio Comparison
CLG.TO has a 0.17% expense ratio, which is lower than CBO.TO's 0.28% expense ratio.
Dividends
CLG.TO vs. CBO.TO - Dividend Comparison
CLG.TO's dividend yield for the trailing twelve months is around 2.54%, less than CBO.TO's 3.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBO.TO iShares 1-5 Year Laddered Corporate Bond Index ETF | 3.45% | 3.37% | 3.09% | 2.81% | 2.67% | 2.55% | 2.55% | 2.65% | 2.74% | 2.80% | 3.03% | 3.86% |
CLG.TO iShares 1-10 Year Laddered Government Bond Index ETF | 2.54% | 2.54% | 2.53% | 2.51% | 2.55% | 2.61% | 2.59% | 2.88% | 3.02% | 3.17% | 3.25% | 3.34% |
Frequently Asked Questions
CLG.TO and CBO.TO have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CLG.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CLG.TO is cheaper with a 0.17% expense ratio, compared with 0.28% for CBO.TO.
CLG.TO tracks Morningstar Can Core Bd GR CAD, while CBO.TO tracks Morningstar Can 1-5Y Core Bd GR CAD. Their fees differ too: 0.17% for CLG.TO and 0.28% for CBO.TO.
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