CVD.TO vs. XFLI.TO
CVD.TO (iShares Convertible Bond Index ETF) and XFLI.TO (iShares Flexible Monthly Income ETF CAD) are both High Yield Bonds funds from iShares. CVD.TO is passively managed, while XFLI.TO is actively managed. Over the past year, CVD.TO returned 7.88% vs 6.40% for XFLI.TO. At a 0.00 correlation, their price movements are largely independent.
Performance
CVD.TO vs. XFLI.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CVD.TO achieves a 5.39% return, which is significantly higher than XFLI.TO's 3.03% return.
CVD.TO
- 1D
- -1.08%
- 1M
- 0.53%
- 6M
- 2.91%
- YTD
- 5.39%
- 1Y
- 7.88%
- 3Y*
- 8.67%
- 5Y*
- 4.77%
- 10Y*
- 4.55%
XFLI.TO
- 1D
- -0.30%
- 1M
- -0.67%
- 6M
- 1.29%
- YTD
- 3.03%
- 1Y
- 6.40%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CVD.TO vs. XFLI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CVD.TO iShares Convertible Bond Index ETF | 5.39% | 7.09% | 1.94% |
XFLI.TO iShares Flexible Monthly Income ETF CAD | 3.03% | 2.07% | 6.23% |
Correlation
The correlation between CVD.TO and XFLI.TO is 0.03, 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 | 0.03 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2024 | 0.00 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CVD.TO vs. XFLI.TO — Risk / Return Rank
CVD.TO
XFLI.TO
CVD.TO vs. XFLI.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Convertible Bond Index ETF (CVD.TO) and iShares Flexible Monthly Income ETF CAD (XFLI.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.
| CVD.TO | XFLI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.23 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 1.55 | +0.45 |
| Martin ratioReturn relative to average drawdown | 5.65 | 3.30 | +2.35 |
Loading charts...
Drawdowns
CVD.TO vs. XFLI.TO - Drawdown Comparison
The maximum CVD.TO drawdown since its inception was -23.51%, which is greater than XFLI.TO's maximum drawdown of -6.92%. Use the drawdown chart below to compare losses from any high point for CVD.TO and XFLI.TO.
Loading charts...
Drawdown Indicators
| CVD.TO | XFLI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.51% | -6.92% | -16.59% |
Max Drawdown (1Y)Largest decline over 1 year | -3.95% | -4.15% | +0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -11.46% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -14.62% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -23.51% | — | — |
Current DrawdownCurrent decline from peak | -1.19% | -2.23% | +1.04% |
Average DrawdownAverage peak-to-trough decline | -2.37% | -2.05% | -0.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.40% | 1.95% | -0.55% |
Volatility
CVD.TO vs. XFLI.TO - Volatility Comparison
iShares Convertible Bond Index ETF (CVD.TO) has a higher volatility of 2.60% compared to iShares Flexible Monthly Income ETF CAD (XFLI.TO) at 2.20%. This indicates that CVD.TO's price experiences larger fluctuations and is considered to be riskier than XFLI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CVD.TO | XFLI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.60% | 2.20% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 4.76% | 4.50% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.42% | 5.61% | +1.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.44% | 6.33% | +3.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.51% | 6.33% | +3.18% |
Dividends
CVD.TO vs. XFLI.TO - Dividend Comparison
CVD.TO's dividend yield for the trailing twelve months is around 4.89%, less than XFLI.TO's 5.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVD.TO iShares Convertible Bond Index ETF | 4.89% | 4.91% | 5.14% | 5.33% | 5.05% | 4.61% | 4.48% | 4.52% | 4.97% | 4.65% | 4.51% | 4.94% |
XFLI.TO iShares Flexible Monthly Income ETF CAD | 5.45% | 5.69% | 2.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CVD.TO and XFLI.TO have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for CVD.TO and XFLI.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer