IEF vs. XSB.TO
IEF (iShares 7-10 Year Treasury Bond ETF) and XSB.TO (iShares Core Canadian Short Term Bond Index ETF) are both exchange-traded funds - IEF is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while XSB.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD. Both are passively managed. Over the past 10 years, IEF returned 0.59%/yr vs 1.10%/yr for XSB.TO. At a 0.09 correlation, their price movements are largely independent. IEF charges 0.15%/yr vs 0.10%/yr for XSB.TO.
Performance
IEF vs. XSB.TO - Performance Comparison
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Different Trading Currencies
IEF is traded in USD, while XSB.TO is traded in CAD. To make them comparable, the XSB.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IEF achieves a -0.47% return, which is significantly higher than XSB.TO's -0.83% return. Over the past 10 years, IEF has underperformed XSB.TO with an annualized return of 0.59%, while XSB.TO has yielded a comparatively higher 1.10% annualized return.
IEF
- 1D
- -0.17%
- 1M
- 1.05%
- YTD
- -0.47%
- 6M
- -0.18%
- 1Y
- 3.78%
- 3Y*
- 2.86%
- 5Y*
- -1.24%
- 10Y*
- 0.59%
XSB.TO
- 1D
- -0.18%
- 1M
- -1.11%
- YTD
- -0.83%
- 6M
- -0.03%
- 1Y
- 0.52%
- 3Y*
- 3.42%
- 5Y*
- -0.85%
- 10Y*
- 1.10%
IEF vs. XSB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEF iShares 7-10 Year Treasury Bond ETF | -0.47% | 8.03% | -0.63% | 3.64% | -15.15% | -3.33% | 10.01% | 8.03% | 0.99% | 2.55% |
XSB.TO iShares Core Canadian Short Term Bond Index ETF | -0.83% | 8.66% | -2.39% | 7.22% | -9.76% | -1.06% | 7.75% | 7.64% | -6.28% | 7.40% |
Correlation
The correlation between IEF and XSB.TO is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.09 |
The correlation between IEF and XSB.TO shifts across timeframes, from 0.09 (all time) to 0.32 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IEF vs. XSB.TO — Risk / Return Rank
IEF
XSB.TO
IEF vs. XSB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 7-10 Year Treasury Bond ETF (IEF) and iShares Core Canadian Short Term Bond Index ETF (XSB.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.
| IEF | XSB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.04 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 0.28 | +0.55 |
| Martin ratioReturn relative to average drawdown | 2.35 | 0.67 | +1.67 |
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Drawdowns
IEF vs. XSB.TO - Drawdown Comparison
The maximum IEF drawdown since its inception was -23.93%, smaller than the maximum XSB.TO drawdown of -28.27%. Use the drawdown chart below to compare losses from any high point for IEF and XSB.TO.
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Drawdown Indicators
| IEF | XSB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.93% | -28.27% | +4.34% |
Max Drawdown (1Y)Largest decline over 1 year | -4.07% | -3.40% | -0.67% |
Max Drawdown (3Y)Largest decline over 3 years | -7.74% | -7.05% | -0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -21.40% | -17.85% | -3.55% |
Max Drawdown (10Y)Largest decline over 10 years | -23.93% | -18.49% | -5.44% |
Current DrawdownCurrent decline from peak | -11.18% | -8.46% | -2.72% |
Average DrawdownAverage peak-to-trough decline | -5.35% | -11.08% | +5.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 1.43% | +0.02% |
Volatility
IEF vs. XSB.TO - Volatility Comparison
iShares 7-10 Year Treasury Bond ETF (IEF) has a higher volatility of 1.62% compared to iShares Core Canadian Short Term Bond Index ETF (XSB.TO) at 1.18%. This indicates that IEF's price experiences larger fluctuations and is considered to be riskier than XSB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEF | XSB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 1.18% | +0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 3.42% | 3.67% | -0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.72% | 4.74% | -0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.71% | 6.84% | +0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.63% | 7.24% | -0.61% |
IEF vs. XSB.TO - Expense Ratio Comparison
IEF has a 0.15% expense ratio, which is higher than XSB.TO's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IEF vs. XSB.TO - Dividend Comparison
IEF's dividend yield for the trailing twelve months is around 3.89%, more than XSB.TO's 3.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEF iShares 7-10 Year Treasury Bond ETF | 3.89% | 3.77% | 3.62% | 2.91% | 1.96% | 0.83% | 1.08% | 2.08% | 2.24% | 1.82% | 1.81% | 1.90% |
XSB.TO iShares Core Canadian Short Term Bond Index ETF | 3.10% | 3.15% | 3.05% | 2.67% | 2.28% | 2.05% | 2.21% | 2.39% | 2.39% | 2.36% | 2.36% | 2.50% |
Frequently Asked Questions
IEF and XSB.TO have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XSB.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSB.TO is cheaper with a 0.10% expense ratio, compared with 0.15% for IEF.
IEF is categorized as Government Bonds, while XSB.TO is Canadian Government Bonds. IEF tracks ICE U.S. Treasury 7-10 Year Bond Index, while XSB.TO tracks Morningstar Can 1-5Y Core Bd GR CAD. Their fees differ too: 0.15% for IEF and 0.10% for XSB.TO.
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