CLG.TO vs. CLF.TO
CLG.TO (iShares 1-10 Year Laddered Government Bond Index ETF) and CLF.TO (iShares 1-5 Year Laddered Government Bond Index ETF) are both Canadian Government Bonds funds from iShares - CLG.TO tracks the Morningstar Can Core Bd GR CAD while CLF.TO tracks the Morningstar Can 1-5Y Core Bd GR CAD. Both are passively managed. Over the past 10 years, CLG.TO returned 1.54%/yr vs 1.81%/yr for CLF.TO. A 0.72 correlation means they provide meaningful diversification when combined. Both charge a 0.17% expense ratio.
Performance
CLG.TO vs. CLF.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 CLF.TO's 0.91% return. Over the past 10 years, CLG.TO has underperformed CLF.TO with an annualized return of 1.54%, while CLF.TO has yielded a comparatively higher 1.81% annualized return.
CLG.TO
- 1D
- 0.00%
- 1M
- 1.03%
- YTD
- 1.12%
- 6M
- 0.70%
- 1Y
- 2.75%
- 3Y*
- 4.14%
- 5Y*
- 1.34%
- 10Y*
- 1.54%
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%
CLG.TO vs. CLF.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% |
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% |
Correlation
The correlation between CLG.TO and CLF.TO is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2011 | 0.72 |
The correlation between CLG.TO and CLF.TO shifts across timeframes, from 0.72 (all time) to 0.88 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
CLG.TO vs. CLF.TO — Risk / Return Rank
CLG.TO
CLF.TO
CLG.TO vs. CLF.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 Government Bond Index ETF (CLF.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 | CLF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.23 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 1.80 | -0.37 |
| Martin ratioReturn relative to average drawdown | 3.56 | 5.18 | -1.62 |
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 | CLF.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | 1.22 | -0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.31 | 0.59 | -0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.54 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.72 | -0.19 |
Drawdowns
CLG.TO vs. CLF.TO - Drawdown Comparison
The maximum CLG.TO drawdown since its inception was -10.74%, which is greater than CLF.TO's maximum drawdown of -6.91%. Use the drawdown chart below to compare losses from any high point for CLG.TO and CLF.TO.
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Drawdown Indicators
| CLG.TO | CLF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.74% | -6.91% | -3.83% |
Max Drawdown (1Y)Largest decline over 1 year | -1.93% | -1.38% | -0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -3.38% | -1.42% | -1.96% |
Max Drawdown (5Y)Largest decline over 5 years | -9.96% | -6.80% | -3.16% |
Max Drawdown (10Y)Largest decline over 10 years | -10.74% | -6.91% | -3.83% |
Current DrawdownCurrent decline from peak | -0.56% | -0.26% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -2.00% | -1.08% | -0.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.48% | +0.29% |
Volatility
CLG.TO vs. CLF.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 Government Bond Index ETF (CLF.TO) at 0.72%. This indicates that CLG.TO's price experiences larger fluctuations and is considered to be riskier than CLF.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 | CLF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 0.72% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 2.34% | 1.62% | +0.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.00% | 2.04% | +0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.31% | 2.98% | +1.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.34% | 3.37% | +0.97% |
CLG.TO vs. CLF.TO - Expense Ratio Comparison
Both CLG.TO and CLF.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
CLG.TO vs. CLF.TO - Dividend Comparison
CLG.TO's dividend yield for the trailing twelve months is around 2.54%, more than CLF.TO's 2.25% 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% |
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 CLF.TO have a correlation of 0.87, 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.
CLG.TO and CLF.TO have the same expense ratio: 0.17% per year.
CLG.TO tracks Morningstar Can Core Bd GR CAD, while CLF.TO tracks Morningstar Can 1-5Y Core Bd GR CAD.
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