HBB.TO vs. XAGH.TO

Last updated Jun 25, 2026

HBB.TO (Global X Canadian Select Universe Bond Index Corporate Class ETF) and XAGH.TO (iShares U.S. Aggregate Bond Index ETF (CAD-Hedged)) are both Total Bond Market funds - HBB.TO tracks the Solactive Canadian Select Universe Bond while XAGH.TO tracks the Bloomberg US Aggregate Bond Index (CAD-Hedged). Both are passively managed. A 0.77 correlation means they provide meaningful diversification when combined. HBB.TO charges 0.09%/yr vs 0.18%/yr for XAGH.TO.

Performance

HBB.TO vs. XAGH.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Canadian Select Universe Bond Index Corporate Class ETF (HBB.TO) and iShares U.S. Aggregate Bond Index ETF (CAD-Hedged) (XAGH.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HBB.TO

• 1D: 0.39%
• 1M: 1.01%
• YTD: 2.02%
• 6M: 1.80%
• 1Y: 3.10%
• 3Y*: 4.11%
• 5Y*: 0.37%
• 10Y*: 1.36%

XAGH.TO

• 1D: 0.02%
• 1M: 0.72%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HBB.TO vs. XAGH.TO - Yearly Performance Comparison

	2026 (YTD)
HBB.TO Global X Canadian Select Universe Bond Index Corporate Class ETF	1.51%
XAGH.TO iShares U.S. Aggregate Bond Index ETF (CAD-Hedged)	0.21%

Correlation

The correlation between HBB.TO and XAGH.TO is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 20, 2026	0.77

Return for Risk

HBB.TO vs. XAGH.TO — Risk / Return Rank

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

HBB.TO

HBB.TO Risk / Return Rank: 21
HBB.TO Sharpe Ratio Rank: 21
HBB.TO Sortino Ratio Rank: 19
HBB.TO Omega Ratio Rank: 19
HBB.TO Calmar Ratio Rank: 25
HBB.TO Martin Ratio Rank: 22

XAGH.TO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

HBB.TO vs. XAGH.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Canadian Select Universe Bond Index Corporate Class ETF (HBB.TO) and iShares U.S. Aggregate Bond Index ETF (CAD-Hedged) (XAGH.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.

	HBB.TO	XAGH.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.69	—	—
Sortino ratio: Return per unit of downside risk	0.96	—	—
Omega ratio: Gain probability vs. loss probability	1.12	—	—
Calmar ratio: Return relative to maximum drawdown	1.12	—	—
Martin ratio: Return relative to average drawdown	2.52	—	—

Drawdowns

HBB.TO vs. XAGH.TO - Drawdown Comparison

The maximum HBB.TO drawdown since its inception was -18.23%, which is greater than XAGH.TO's maximum drawdown of -3.18%. Use the drawdown chart below to compare losses from any high point for HBB.TO and XAGH.TO.

Drawdown Indicators

	HBB.TO	XAGH.TO	Difference
Max Drawdown Largest peak-to-trough decline	-18.23%	-3.18%	-15.05%
Max Drawdown (1Y) Largest decline over 1 year	-2.78%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-5.56%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.19%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-18.23%	—	—
Current Drawdown Current decline from peak	-2.45%	-1.47%	-0.98%
Average Drawdown Average peak-to-trough decline	-4.57%	-1.36%	-3.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.23%	—	—

Volatility

Volatility by Period

	HBB.TO	XAGH.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.38%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.48%	5.01%	-0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.55%	5.01%	+1.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.09%	5.01%	+2.08%

HBB.TO vs. XAGH.TO - Expense Ratio Comparison

HBB.TO has a 0.09% expense ratio, which is lower than XAGH.TO's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HBB.TO vs. XAGH.TO - Dividend Comparison

HBB.TO has not paid dividends to shareholders, while XAGH.TO's dividend yield for the trailing twelve months is around 1.89%.

Position	TTM
HBB.TO Global X Canadian Select Universe Bond Index Corporate Class ETF	0.00%
XAGH.TO iShares U.S. Aggregate Bond Index ETF (CAD-Hedged)	1.89%

Frequently Asked Questions

Can I hold both HBB.TO and XAGH.TO in my portfolio?

HBB.TO and XAGH.TO have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HBB.TO or XAGH.TO?

On fees, HBB.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HBB.TO or XAGH.TO?

HBB.TO is cheaper with a 0.09% expense ratio, compared with 0.18% for XAGH.TO.

What is the main difference between HBB.TO and XAGH.TO?

HBB.TO tracks Solactive Canadian Select Universe Bond, while XAGH.TO tracks Bloomberg US Aggregate Bond Index (CAD-Hedged). They also come from different issuers: Global X and iShares. Their fees differ too: 0.09% for HBB.TO and 0.18% for XAGH.TO.