ESGB.TO vs. XCBG.TO
ESGB.TO (BMO ESG Corporate Bond Index ETF) and XCBG.TO (iShares ESG Advanced Canadian Corporate Bond Index ETF) are both Corporate Bonds funds. Over the past 3 years, ESGB.TO returned 6.14%/yr vs 6.09%/yr for XCBG.TO. At a 0.45 correlation, their price movements are largely independent.
Performance
ESGB.TO vs. XCBG.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with ESGB.TO having a 2.00% return and XCBG.TO slightly lower at 1.96%.
ESGB.TO
- 1D
- -0.64%
- 1M
- 0.33%
- YTD
- 2.00%
- 6M
- 1.89%
- 1Y
- 4.32%
- 3Y*
- 6.14%
- 5Y*
- 2.22%
- 10Y*
- —
XCBG.TO
- 1D
- 0.05%
- 1M
- 0.31%
- YTD
- 1.96%
- 6M
- 1.77%
- 1Y
- 3.82%
- 3Y*
- 6.09%
- 5Y*
- —
- 10Y*
- —
ESGB.TO vs. XCBG.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ESGB.TO BMO ESG Corporate Bond Index ETF | 2.00% | 4.18% | 6.92% | 7.89% | -9.31% | -0.46% |
XCBG.TO iShares ESG Advanced Canadian Corporate Bond Index ETF | 1.96% | 4.21% | 6.79% | 7.45% | -7.40% | -1.10% |
Correlation
The correlation between ESGB.TO and XCBG.TO is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jul 27, 2021 | 0.45 |
The correlation between ESGB.TO and XCBG.TO has been stable across timeframes, ranging from 0.45 to 0.54 - a consistent structural relationship.
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Return for Risk
ESGB.TO vs. XCBG.TO — Risk / Return Rank
ESGB.TO
XCBG.TO
ESGB.TO vs. XCBG.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO ESG Corporate Bond Index ETF (ESGB.TO) and iShares ESG Advanced Canadian Corporate Bond Index ETF (XCBG.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.
| ESGB.TO | XCBG.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.24 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 1.90 | -0.14 |
| Martin ratioReturn relative to average drawdown | 5.17 | 6.01 | -0.83 |
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Drawdowns
ESGB.TO vs. XCBG.TO - Drawdown Comparison
The maximum ESGB.TO drawdown since its inception was -15.18%, which is greater than XCBG.TO's maximum drawdown of -12.14%. Use the drawdown chart below to compare losses from any high point for ESGB.TO and XCBG.TO.
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Drawdown Indicators
| ESGB.TO | XCBG.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.18% | -12.14% | -3.04% |
Max Drawdown (1Y)Largest decline over 1 year | -2.47% | -2.03% | -0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -2.72% | -2.26% | -0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -13.96% | — | — |
Current DrawdownCurrent decline from peak | -0.64% | 0.00% | -0.64% |
Average DrawdownAverage peak-to-trough decline | -4.26% | -3.50% | -0.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 0.65% | +0.19% |
Volatility
ESGB.TO vs. XCBG.TO - Volatility Comparison
BMO ESG Corporate Bond Index ETF (ESGB.TO) has a higher volatility of 1.55% compared to iShares ESG Advanced Canadian Corporate Bond Index ETF (XCBG.TO) at 0.82%. This indicates that ESGB.TO's price experiences larger fluctuations and is considered to be riskier than XCBG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESGB.TO | XCBG.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 0.82% | +0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 3.02% | 2.34% | +0.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.00% | 3.02% | +0.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.39% | 4.20% | +1.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.99% | 4.20% | +1.79% |
Dividends
ESGB.TO vs. XCBG.TO - Dividend Comparison
ESGB.TO's dividend yield for the trailing twelve months is around 3.99%, more than XCBG.TO's 3.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
ESGB.TO BMO ESG Corporate Bond Index ETF | 3.99% | 3.82% | 3.52% | 3.56% | 3.39% | 2.98% | 2.83% |
XCBG.TO iShares ESG Advanced Canadian Corporate Bond Index ETF | 3.94% | 3.84% | 3.61% | 3.19% | 2.99% | 0.87% | 0.00% |
Frequently Asked Questions
ESGB.TO and XCBG.TO have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: BMO and iShares.
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