CORE.TO vs. XQB.TO
CORE.TO (PIMCO Canadian Core Bond Fund) and XQB.TO (iShares High Quality Canadian Bond Index ETF) are both Canadian Government Bonds funds. CORE.TO is actively managed, while XQB.TO is passively managed. Over the past year, CORE.TO returned 4.48% vs 3.20% for XQB.TO. Their correlation of 0.84 suggests significant overlap in exposure. CORE.TO charges 0.32%/yr vs 0.13%/yr for XQB.TO.
Performance
CORE.TO vs. XQB.TO - Performance Comparison
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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 XQB.TO's 1.49% return.
CORE.TO
- 1D
- 0.00%
- 1M
- 1.93%
- YTD
- 2.24%
- 6M
- 1.42%
- 1Y
- 4.48%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XQB.TO
- 1D
- -0.11%
- 1M
- 1.68%
- YTD
- 1.49%
- 6M
- 0.82%
- 1Y
- 3.20%
- 3Y*
- 4.37%
- 5Y*
- 0.97%
- 10Y*
- 1.64%
CORE.TO vs. XQB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CORE.TO PIMCO Canadian Core Bond Fund | 2.24% | 4.02% | 0.77% |
XQB.TO iShares High Quality Canadian Bond Index ETF | 1.49% | 3.16% | 1.13% |
Correlation
The correlation between CORE.TO and XQB.TO is 0.83, 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 | 0.83 |
Correlation (All Time) Calculated using the full available price history since Aug 20, 2024 | 0.84 |
The correlation between CORE.TO and XQB.TO has been stable across timeframes, ranging from 0.83 to 0.84 - a consistent structural relationship.
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Return for Risk
CORE.TO vs. XQB.TO — Risk / Return Rank
CORE.TO
XQB.TO
CORE.TO vs. XQB.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 High Quality Canadian Bond Index ETF (XQB.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.TO | XQB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.14 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 1.19 | +0.31 |
| Martin ratioReturn relative to average drawdown | 3.71 | 2.93 | +0.78 |
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
| CORE.TO | XQB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 0.79 | +0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.17 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.29 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.53 | +0.26 |
Drawdowns
CORE.TO vs. XQB.TO - Drawdown Comparison
The maximum CORE.TO drawdown since its inception was -3.48%, smaller than the maximum XQB.TO drawdown of -16.57%. Use the drawdown chart below to compare losses from any high point for CORE.TO and XQB.TO.
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Drawdown Indicators
| CORE.TO | XQB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.48% | -16.57% | +13.09% |
Max Drawdown (1Y)Largest decline over 1 year | -2.99% | -2.70% | -0.29% |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.25% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.59% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.57% | — |
Current DrawdownCurrent decline from peak | -0.27% | -0.50% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -1.36% | -3.07% | +1.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 1.09% | +0.12% |
Volatility
CORE.TO vs. XQB.TO - Volatility Comparison
The current volatility for PIMCO Canadian Core Bond Fund (CORE.TO) is 1.46%, while iShares High Quality Canadian Bond Index ETF (XQB.TO) has a volatility of 1.54%. This indicates that CORE.TO experiences smaller price fluctuations and is considered to be less risky than XQB.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.TO | XQB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 1.54% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.17% | 3.31% | -0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.13% | 4.10% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.01% | 5.89% | -0.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.01% | 5.78% | -0.77% |
CORE.TO vs. XQB.TO - Expense Ratio Comparison
CORE.TO has a 0.32% expense ratio, which is higher than XQB.TO's 0.13% expense ratio.
Dividends
CORE.TO vs. XQB.TO - Dividend Comparison
CORE.TO's dividend yield for the trailing twelve months is around 3.36%, less than XQB.TO's 3.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XQB.TO iShares High Quality Canadian Bond Index ETF | 3.41% | 3.39% | 3.24% | 2.93% | 2.75% | 2.37% | 2.37% | 2.53% | 2.59% | 2.54% | 2.67% | 2.80% |
Frequently Asked Questions
CORE.TO and XQB.TO have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XQB.TO is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XQB.TO is cheaper with a 0.13% 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 0.13% for XQB.TO.
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