DXMO.TO vs. XSH.TO

Last updated Jun 4, 2026

DXMO.TO (Dynamic Active Mining Opportunities ETF) and XSH.TO (iShares Core Canadian Short Term Corporate Bond Index ETF) are both exchange-traded funds - DXMO.TO is a Materials fund actively managed by Dynamic, while XSH.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD. DXMO.TO is actively managed, while XSH.TO is passively managed. Over the past year, DXMO.TO returned 68.74% vs 3.85% for XSH.TO. At a 0.12 correlation, their price movements are largely independent. DXMO.TO charges 0.74%/yr vs 0.10%/yr for XSH.TO.

Performance

DXMO.TO vs. XSH.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Dynamic Active Mining Opportunities ETF (DXMO.TO) and iShares Core Canadian Short Term Corporate Bond Index ETF (XSH.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DXMO.TO achieves a 11.64% return, which is significantly higher than XSH.TO's 1.33% return.

DXMO.TO

• 1D: -2.82%
• 1M: 7.64%
• YTD: 11.64%
• 6M: 21.16%
• 1Y: 68.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XSH.TO

• 1D: 0.00%
• 1M: 1.13%
• YTD: 1.33%
• 6M: 1.34%
• 1Y: 3.85%
• 3Y*: 6.05%
• 5Y*: 2.86%
• 10Y*: 2.82%

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

DXMO.TO vs. XSH.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DXMO.TO Dynamic Active Mining Opportunities ETF	11.64%	88.43%	-9.23%
XSH.TO iShares Core Canadian Short Term Corporate Bond Index ETF	1.33%	4.61%	5.11%

Correlation

The correlation between DXMO.TO and XSH.TO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (All Time) Calculated using the full available price history since Jul 5, 2024	0.12

The correlation between DXMO.TO and XSH.TO shifts across timeframes, from 0.12 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

DXMO.TO vs. XSH.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DXMO.TO

DXMO.TO Risk / Return Rank: 52
DXMO.TO Sharpe Ratio Rank: 56
DXMO.TO Sortino Ratio Rank: 48
DXMO.TO Omega Ratio Rank: 52
DXMO.TO Calmar Ratio Rank: 54
DXMO.TO Martin Ratio Rank: 49

XSH.TO

XSH.TO Risk / Return Rank: 53
XSH.TO Sharpe Ratio Rank: 51
XSH.TO Sortino Ratio Rank: 51
XSH.TO Omega Ratio Rank: 57
XSH.TO Calmar Ratio Rank: 51
XSH.TO Martin Ratio Rank: 57

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.

DXMO.TO vs. XSH.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dynamic Active Mining Opportunities ETF (DXMO.TO) and iShares Core Canadian Short Term Corporate Bond Index ETF (XSH.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.

	DXMO.TO	XSH.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.92	1.79	+0.13
Sortino ratio: Return per unit of downside risk	2.36	2.51	-0.15
Omega ratio: Gain probability vs. loss probability	1.32	1.36	-0.03
Calmar ratio: Return relative to maximum drawdown	2.65	2.57	+0.08
Martin ratio: Return relative to average drawdown	8.17	10.05	-1.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DXMO.TO vs. XSH.TO - Sharpe Ratio Comparison

The current DXMO.TO Sharpe Ratio is 1.92, which is comparable to the XSH.TO Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of DXMO.TO and XSH.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.

Sharpe Ratios by Period

	DXMO.TO	XSH.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.92	1.79	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.02	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.64	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.18	0.74	+0.44

Drawdowns

DXMO.TO vs. XSH.TO - Drawdown Comparison

The maximum DXMO.TO drawdown since its inception was -26.12%, which is greater than XSH.TO's maximum drawdown of -14.24%. Use the drawdown chart below to compare losses from any high point for DXMO.TO and XSH.TO.

Drawdown Indicators

	DXMO.TO	XSH.TO	Difference
Max Drawdown Largest peak-to-trough decline	-26.12%	-14.24%	-11.88%
Max Drawdown (1Y) Largest decline over 1 year	-26.12%	-1.51%	-24.61%
Max Drawdown (3Y) Largest decline over 3 years	—	-1.51%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-7.80%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-14.24%	—
Current Drawdown Current decline from peak	-9.81%	0.00%	-9.81%
Average Drawdown Average peak-to-trough decline	-5.77%	-0.93%	-4.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.44%	0.38%	+8.06%

Volatility

DXMO.TO vs. XSH.TO - Volatility Comparison

Dynamic Active Mining Opportunities ETF (DXMO.TO) has a higher volatility of 13.29% compared to iShares Core Canadian Short Term Corporate Bond Index ETF (XSH.TO) at 0.80%. This indicates that DXMO.TO's price experiences larger fluctuations and is considered to be riskier than XSH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DXMO.TO	XSH.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.29%	0.80%	+12.49%
Volatility (6M) Calculated over the trailing 6-month period	29.44%	1.83%	+27.61%
Volatility (1Y) Calculated over the trailing 1-year period	36.05%	2.16%	+33.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.42%	2.83%	+31.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.42%	4.42%	+30.00%

DXMO.TO vs. XSH.TO - Expense Ratio Comparison

DXMO.TO has a 0.74% expense ratio, which is higher than XSH.TO's 0.10% expense ratio.

Dividends

DXMO.TO vs. XSH.TO - Dividend Comparison

DXMO.TO's dividend yield for the trailing twelve months is around 0.16%, less than XSH.TO's 3.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXMO.TO Dynamic Active Mining Opportunities ETF	0.16%	0.18%	0.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XSH.TO iShares Core Canadian Short Term Corporate Bond Index ETF	3.89%	3.82%	3.64%	3.24%	2.97%	2.65%	2.61%	2.80%	2.86%	2.93%	3.08%	3.18%

Frequently Asked Questions

Can I hold both DXMO.TO and XSH.TO in my portfolio?

DXMO.TO and XSH.TO have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DXMO.TO or XSH.TO?

On fees, XSH.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DXMO.TO or XSH.TO?

XSH.TO is cheaper with a 0.10% expense ratio, compared with 0.74% for DXMO.TO.

What is the main difference between DXMO.TO and XSH.TO?

DXMO.TO is categorized as Materials, while XSH.TO is Canadian Government Bonds. They also come from different issuers: Dynamic and iShares. Their fees differ too: 0.74% for DXMO.TO and 0.10% for XSH.TO.