CMR.TO vs. XSB.TO
CMR.TO (iShares Premium Money Market ETF) and XSB.TO (iShares Core Canadian Short Term Bond Index ETF) are both exchange-traded funds - CMR.TO is a Money Market fund actively managed by iShares, while XSB.TO is a Short-Term Bond fund tracking the FTSE Canada Short Term Overall Bond Index. CMR.TO is actively managed, while XSB.TO is passively managed. Over the past 10 years, CMR.TO returned 1.93%/yr vs 1.96%/yr for XSB.TO. At a 0.01 correlation, their price movements are largely independent. CMR.TO charges 0.13%/yr vs 0.10%/yr for XSB.TO.
Performance
CMR.TO vs. XSB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CMR.TO achieves a 1.23% return, which is significantly higher than XSB.TO's 1.02% return. Both investments have delivered pretty close results over the past 10 years, with CMR.TO having a 1.93% annualized return and XSB.TO not far ahead at 1.96%.
CMR.TO
- 1D
- 0.02%
- 1M
- 0.19%
- 6M
- 1.15%
- YTD
- 1.23%
- 1Y
- 2.46%
- 3Y*
- 3.69%
- 5Y*
- 3.02%
- 10Y*
- 1.93%
XSB.TO
- 1D
- -0.15%
- 1M
- -0.15%
- 6M
- 0.83%
- YTD
- 1.02%
- 1Y
- 3.02%
- 3Y*
- 4.82%
- 5Y*
- 2.06%
- 10Y*
- 1.96%
CMR.TO vs. XSB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CMR.TO iShares Premium Money Market ETF | 1.23% | 2.78% | 4.70% | 4.70% | 1.72% | 0.01% | 0.47% | 1.63% | 1.29% | 0.63% |
XSB.TO iShares Core Canadian Short Term Bond Index ETF | 1.02% | 3.70% | 5.87% | 4.67% | -4.04% | -1.11% | 5.20% | 3.20% | 1.60% | 0.13% |
Correlation
The correlation between CMR.TO and XSB.TO is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2008 | 0.01 |
The correlation between CMR.TO and XSB.TO shifts across timeframes, from -0.09 (1 year) to 0.06 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
CMR.TO vs. XSB.TO — Risk / Return Rank
CMR.TO
XSB.TO
CMR.TO vs. XSB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Premium Money Market ETF (CMR.TO) and iShares Core Canadian Short Term Bond Index ETF (XSB.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CMR.TO | XSB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +10.78 | ||
| Sortino ratioReturn per unit of downside risk | +36.38 | ||
| Omega ratioGain probability vs. loss probability | 13.16 | 1.29 | +11.87 |
| Calmar ratioReturn relative to maximum drawdown | 123.47 | 2.06 | +121.41 |
| Martin ratioReturn relative to average drawdown | 564.92 | 7.00 | +557.92 |
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Drawdowns
CMR.TO vs. XSB.TO - Drawdown Comparison
The maximum CMR.TO drawdown since its inception was -0.52%, smaller than the maximum XSB.TO drawdown of -8.65%. Use the drawdown chart below to compare losses from any high point for CMR.TO and XSB.TO.
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Drawdown Indicators
| CMR.TO | XSB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.52% | -8.65% | +8.13% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -1.47% | +1.45% |
Max Drawdown (3Y)Largest decline over 3 years | -0.04% | -1.47% | +1.43% |
Max Drawdown (5Y)Largest decline over 5 years | -0.04% | -6.99% | +6.95% |
Max Drawdown (10Y)Largest decline over 10 years | -0.14% | -8.65% | +8.51% |
Current DrawdownCurrent decline from peak | 0.00% | -0.48% | +0.48% |
Average DrawdownAverage peak-to-trough decline | -0.01% | -0.79% | +0.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 0.43% | -0.43% |
Volatility
CMR.TO vs. XSB.TO - Volatility Comparison
The current volatility for iShares Premium Money Market ETF (CMR.TO) is 0.05%, while iShares Core Canadian Short Term Bond Index ETF (XSB.TO) has a volatility of 0.59%. This indicates that CMR.TO experiences smaller price fluctuations and is considered to be less risky than XSB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMR.TO | XSB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 0.59% | -0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 0.15% | 1.69% | -1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.20% | 2.03% | -1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.27% | 2.73% | -2.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.27% | 3.40% | -3.13% |
CMR.TO vs. XSB.TO - Expense Ratio Comparison
CMR.TO has a 0.13% expense ratio, which is higher than XSB.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
CMR.TO vs. XSB.TO - Dividend Comparison
CMR.TO's dividend yield for the trailing twelve months is around 2.45%, less than XSB.TO's 3.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMR.TO iShares Premium Money Market ETF | 2.45% | 2.81% | 4.56% | 4.64% | 1.63% | 0.01% | 0.47% | 1.60% | 1.33% | 0.61% | 0.43% | 0.48% |
XSB.TO iShares Core Canadian Short Term Bond Index ETF | 3.11% | 3.15% | 3.05% | 2.67% | 2.28% | 2.05% | 2.21% | 2.39% | 2.39% | 2.36% | 2.36% | 2.50% |
Frequently Asked Questions
CMR.TO and XSB.TO have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XSB.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSB.TO is cheaper with a 0.10% expense ratio, compared with 0.13% for CMR.TO.
CMR.TO is categorized as Money Market, while XSB.TO is Short-Term Bond. Their fees differ too: 0.13% for CMR.TO and 0.10% for XSB.TO.
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