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CORE.TO vs. CBO.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CORE.TO vs. CBO.TO

Last updated Jun 4, 2026

CORE.TO (PIMCO Canadian Core Bond Fund) and CBO.TO (iShares 1-5 Year Laddered Corporate Bond Index ETF) are both Canadian Government Bonds funds. CORE.TO is actively managed, while CBO.TO is passively managed. Over the past year, CORE.TO returned 4.48% vs 3.73% for CBO.TO. A 0.67 correlation means they provide meaningful diversification when combined. CORE.TO charges 0.32%/yr vs 0.28%/yr for CBO.TO.

Performance

CORE.TO vs. CBO.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in PIMCO Canadian Core Bond Fund (CORE.TO) and iShares 1-5 Year Laddered Corporate Bond Index ETF (CBO.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CORE.TO achieves a 2.24% return, which is significantly higher than CBO.TO's 1.02% return.

CORE.TO

1D
0.00%
1M
1.93%
YTD
2.24%
6M
1.42%
1Y
4.48%
3Y*
—
5Y*
—
10Y*
—

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%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CORE.TO vs. CBO.TO - Yearly Performance Comparison

2026 (YTD)20252024
CORE.TO
PIMCO Canadian Core Bond Fund		2.24%4.02%0.77%
CBO.TO
iShares 1-5 Year Laddered Corporate Bond Index ETF		1.02%4.69%2.56%

Correlation

The correlation between CORE.TO and CBO.TO is 0.65, 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

0.65

Correlation (All Time)
Calculated using the full available price history since Aug 20, 2024

0.67

The correlation between CORE.TO and CBO.TO has been stable across timeframes, ranging from 0.65 to 0.67 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

PIMCO Canadian Core Bond Fund

iShares 1-5 Year Laddered Corporate Bond Index ETF

Often compared with CORE.TO:
CORE.TO vs. PMIF.TOCORE.TO vs. PMIF-U.TOCORE.TO vs. XBB.TOCORE.TO vs. XSH.TOCORE.TO vs. XFLB.TOCORE.TO vs. TCLB.TOCORE.TO vs. ZAG.TO
Often compared with CBO.TO:
CBO.TO vs. XSH.TOCBO.TO vs. CBH.TOCBO.TO vs. CBIL.TOCBO.TO vs. CLF.TOCBO.TO vs. XHB.TOCBO.TO vs. XSB.TOCBO.TO vs. ZCS.TO

Return for Risk

CORE.TO vs. CBO.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CORE.TO
CORE.TO Risk / Return Rank: 2929
Overall Rank
CORE.TO Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
CORE.TO Sortino Ratio Rank: 2828
Sortino Ratio Rank
CORE.TO Omega Ratio Rank: 2929
Omega Ratio Rank
CORE.TO Calmar Ratio Rank: 3131
Calmar Ratio Rank
CORE.TO Martin Ratio Rank: 2727
Martin Ratio Rank
CBO.TO
CBO.TO Risk / Return Rank: 4747
Overall Rank
CBO.TO Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
CBO.TO Sortino Ratio Rank: 4646
Sortino Ratio Rank
CBO.TO Omega Ratio Rank: 4545
Omega Ratio Rank
CBO.TO Calmar Ratio Rank: 4747
Calmar Ratio Rank
CBO.TO Martin Ratio Rank: 5151
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CORE.TO vs. CBO.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Canadian Core Bond Fund (CORE.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.

CORE.TOCBO.TODifference
Sharpe ratioReturn per unit of total volatility
1.09
1.57

-0.48

Sortino ratioReturn per unit of downside risk
1.50
2.29

-0.79

Omega ratioGain probability vs. loss probability

1.19

1.29

-0.09

Calmar ratioReturn relative to maximum drawdown

1.50

2.32

-0.82

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.

CORE.TO vs. CBO.TO - Sharpe Ratio Comparison

The current CORE.TO Sharpe Ratio is 1.09, which is lower than the CBO.TO Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of CORE.TO and CBO.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

CORE.TOCBO.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.09

1.57

-0.48

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.88

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.70

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.79

0.94

-0.15

Drawdowns

CORE.TO vs. CBO.TO - Drawdown Comparison

The maximum CORE.TO drawdown since its inception was -3.48%, smaller than the maximum CBO.TO drawdown of -11.67%. Use the drawdown chart below to compare losses from any high point for CORE.TO and CBO.TO.

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Drawdown Indicators

CORE.TOCBO.TODifference

Max Drawdown

Largest peak-to-trough decline

-3.48%

-11.67%

+8.19%

Max Drawdown (1Y)

Largest decline over 1 year

-2.99%

-1.61%

-1.38%

Max Drawdown (3Y)

Largest decline over 3 years

—

-1.61%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-8.22%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-11.67%

—

Current Drawdown

Current decline from peak

-0.27%

-0.05%

-0.22%

Average Drawdown

Average peak-to-trough decline

-1.36%

-0.96%

-0.40%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.21%

0.43%

+0.78%

Volatility

CORE.TO vs. CBO.TO - Volatility Comparison

PIMCO Canadian Core Bond Fund (CORE.TO) has a higher volatility of 1.46% compared to iShares 1-5 Year Laddered Corporate Bond Index ETF (CBO.TO) at 0.83%. This indicates that CORE.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

CORE.TOCBO.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.46%

0.83%

+0.63%

Volatility (6M)

Calculated over the trailing 6-month period

3.17%

1.86%

+1.31%

Volatility (1Y)

Calculated over the trailing 1-year period

4.13%

2.39%

+1.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.01%

2.97%

+2.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.01%

3.59%

+1.42%

CORE.TO vs. CBO.TO - Expense Ratio Comparison

CORE.TO has a 0.32% expense ratio, which is higher than CBO.TO's 0.28% expense ratio.

Dividends

CORE.TO vs. CBO.TO - Dividend Comparison

CORE.TO's dividend yield for the trailing twelve months is around 3.36%, less than CBO.TO's 3.45% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
CORE.TO
PIMCO Canadian Core Bond Fund		3.36%3.42%0.32%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

CORE.TO and CBO.TO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, CBO.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

CBO.TO is cheaper with a 0.28% expense ratio, compared with 0.32% for CORE.TO.

They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.32% for CORE.TO and 0.28% for CBO.TO.

Portfolio Optimizer

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