CLG.TO vs. XBB.TO
CLG.TO (iShares 1-10 Year Laddered Government Bond Index ETF) and XBB.TO (iShares Core Canadian Universe Bond Index ETF) are both Canadian Government Bonds funds from iShares tracking the Morningstar Can Core Bd GR CAD. Both are passively managed. Over the past 10 years, CLG.TO returned 1.54%/yr vs 1.67%/yr for XBB.TO. A 0.78 correlation means they provide meaningful diversification when combined. CLG.TO charges 0.17%/yr vs 0.10%/yr for XBB.TO.
Performance
CLG.TO vs. XBB.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 lower than XBB.TO's 1.58% return. Over the past 10 years, CLG.TO has underperformed XBB.TO with an annualized return of 1.54%, while XBB.TO has yielded a comparatively higher 1.67% 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%
XBB.TO
- 1D
- 0.07%
- 1M
- 1.55%
- YTD
- 1.58%
- 6M
- 1.08%
- 1Y
- 2.98%
- 3Y*
- 4.28%
- 5Y*
- 0.72%
- 10Y*
- 1.67%
CLG.TO vs. XBB.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% |
XBB.TO iShares Core Canadian Universe Bond Index ETF | 1.58% | 2.59% | 4.00% | 6.64% | -11.66% | -2.81% | 8.58% | 7.28% | 1.00% | 2.42% |
Correlation
The correlation between CLG.TO and XBB.TO is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2011 | 0.78 |
The correlation between CLG.TO and XBB.TO shifts across timeframes, from 0.78 (all time) to 0.92 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
CLG.TO vs. XBB.TO — Risk / Return Rank
CLG.TO
XBB.TO
CLG.TO vs. XBB.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 Core Canadian Universe Bond Index ETF (XBB.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 | XBB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.12 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 1.10 | +0.33 |
| Martin ratioReturn relative to average drawdown | 3.56 | 2.56 | +1.00 |
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 | XBB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | 0.68 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.31 | 0.11 | +0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.25 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.71 | -0.18 |
Drawdowns
CLG.TO vs. XBB.TO - Drawdown Comparison
The maximum CLG.TO drawdown since its inception was -10.74%, smaller than the maximum XBB.TO drawdown of -18.16%. Use the drawdown chart below to compare losses from any high point for CLG.TO and XBB.TO.
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Drawdown Indicators
| CLG.TO | XBB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.74% | -18.16% | +7.42% |
Max Drawdown (1Y)Largest decline over 1 year | -1.93% | -2.73% | +0.80% |
Max Drawdown (3Y)Largest decline over 3 years | -3.38% | -5.42% | +2.04% |
Max Drawdown (5Y)Largest decline over 5 years | -9.96% | -15.90% | +5.94% |
Max Drawdown (10Y)Largest decline over 10 years | -10.74% | -18.16% | +7.42% |
Current DrawdownCurrent decline from peak | -0.56% | -1.32% | +0.76% |
Average DrawdownAverage peak-to-trough decline | -2.00% | -2.76% | +0.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 1.17% | -0.40% |
Volatility
CLG.TO vs. XBB.TO - Volatility Comparison
The current volatility for iShares 1-10 Year Laddered Government Bond Index ETF (CLG.TO) is 1.13%, while iShares Core Canadian Universe Bond Index ETF (XBB.TO) has a volatility of 1.54%. This indicates that CLG.TO experiences smaller price fluctuations and is considered to be less risky than XBB.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 | XBB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 1.54% | -0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 2.34% | 3.40% | -1.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.00% | 4.38% | -1.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.31% | 6.62% | -2.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.34% | 6.69% | -2.35% |
CLG.TO vs. XBB.TO - Expense Ratio Comparison
CLG.TO has a 0.17% expense ratio, which is higher than XBB.TO's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CLG.TO vs. XBB.TO - Dividend Comparison
CLG.TO's dividend yield for the trailing twelve months is around 2.54%, less than XBB.TO's 3.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XBB.TO iShares Core Canadian Universe Bond Index ETF | 3.40% | 3.39% | 3.25% | 3.01% | 2.91% | 2.54% | 2.55% | 2.80% | 2.92% | 2.83% | 2.81% | 2.87% |
Frequently Asked Questions
With a correlation of 0.90, CLG.TO and XBB.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, XBB.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XBB.TO is cheaper with a 0.10% expense ratio, compared with 0.17% for CLG.TO.
Both ETFs track Morningstar Can Core Bd GR CAD. Their fees differ too: 0.17% for CLG.TO and 0.10% for XBB.TO.
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