ESGB.TO vs. XHB.TO
ESGB.TO (BMO ESG Corporate Bond Index ETF) and XHB.TO (iShares Canadian HYBrid Corporate Bond Index ETF) are both Corporate Bonds funds. Over the past 5 years, ESGB.TO returned 2.22%/yr vs 3.16%/yr for XHB.TO. At a 0.38 correlation, their price movements are largely independent.
Performance
ESGB.TO vs. XHB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ESGB.TO achieves a 2.00% return, which is significantly lower than XHB.TO's 2.51% return.
ESGB.TO
- 1D
- -0.64%
- 1M
- 0.33%
- YTD
- 2.00%
- 6M
- 1.89%
- 1Y
- 4.32%
- 3Y*
- 6.14%
- 5Y*
- 2.22%
- 10Y*
- —
XHB.TO
- 1D
- 0.15%
- 1M
- 0.68%
- YTD
- 2.51%
- 6M
- 2.41%
- 1Y
- 5.22%
- 3Y*
- 7.36%
- 5Y*
- 3.16%
- 10Y*
- 3.91%
ESGB.TO vs. XHB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ESGB.TO BMO ESG Corporate Bond Index ETF | 2.00% | 4.18% | 6.92% | 7.89% | -9.31% | -2.24% | 6.85% |
XHB.TO iShares Canadian HYBrid Corporate Bond Index ETF | 2.51% | 5.34% | 8.02% | 10.06% | -9.67% | 0.02% | 7.47% |
Correlation
The correlation between ESGB.TO and XHB.TO is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2020 | 0.38 |
The correlation between ESGB.TO and XHB.TO shifts across timeframes, from 0.38 (all time) to 0.52 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
ESGB.TO vs. XHB.TO — Risk / Return Rank
ESGB.TO
XHB.TO
ESGB.TO vs. XHB.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 Canadian HYBrid Corporate Bond Index ETF (XHB.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 | XHB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.29 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 2.17 | -0.41 |
| Martin ratioReturn relative to average drawdown | 5.17 | 7.20 | -2.03 |
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Drawdowns
ESGB.TO vs. XHB.TO - Drawdown Comparison
The maximum ESGB.TO drawdown since its inception was -15.18%, smaller than the maximum XHB.TO drawdown of -26.50%. Use the drawdown chart below to compare losses from any high point for ESGB.TO and XHB.TO.
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Drawdown Indicators
| ESGB.TO | XHB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.18% | -26.50% | +11.32% |
Max Drawdown (1Y)Largest decline over 1 year | -2.47% | -2.42% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -2.72% | -3.18% | +0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -13.96% | -13.94% | -0.02% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.50% | — |
Current DrawdownCurrent decline from peak | -0.64% | 0.00% | -0.64% |
Average DrawdownAverage peak-to-trough decline | -4.26% | -2.08% | -2.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 0.73% | +0.11% |
Volatility
ESGB.TO vs. XHB.TO - Volatility Comparison
BMO ESG Corporate Bond Index ETF (ESGB.TO) has a higher volatility of 1.55% compared to iShares Canadian HYBrid Corporate Bond Index ETF (XHB.TO) at 0.95%. This indicates that ESGB.TO's price experiences larger fluctuations and is considered to be riskier than XHB.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 | XHB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 0.95% | +0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 3.02% | 2.66% | +0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.00% | 3.32% | +0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.39% | 5.55% | -0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.99% | 11.03% | -5.04% |
Dividends
ESGB.TO vs. XHB.TO - Dividend Comparison
ESGB.TO's dividend yield for the trailing twelve months is around 3.99%, less than XHB.TO's 4.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ESGB.TO BMO ESG Corporate Bond Index ETF | 3.99% | 3.82% | 3.52% | 3.56% | 3.39% | 2.98% | 2.83% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XHB.TO iShares Canadian HYBrid Corporate Bond Index ETF | 4.53% | 4.48% | 4.36% | 4.23% | 4.24% | 3.51% | 3.53% | 3.81% | 4.07% | 4.08% | 4.35% | 4.78% |
Frequently Asked Questions
ESGB.TO and XHB.TO have a correlation of 0.47, 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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