IFRF.TO vs. ICPB.TO
IFRF.TO (IA Clarington Loomis Floating Rate Income Fund) and ICPB.TO (IA Clarington Agile Core Plus Bond Fund Series ETF) are both exchange-traded funds - IFRF.TO is a Bank Loan fund actively managed by IA Clarington Investments Inc., while ICPB.TO is a Intermediate Core-Plus Bond fund actively managed by IA Clarington Investments Inc.. Both are actively managed. Over the past 5 years, IFRF.TO returned 1.67%/yr vs 1.80%/yr for ICPB.TO. At a 0.08 correlation, their price movements are largely independent. IFRF.TO charges 0.93%/yr vs 0.64%/yr for ICPB.TO.
Performance
IFRF.TO vs. ICPB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, IFRF.TO achieves a 1.18% return, which is significantly higher than ICPB.TO's 0.84% return.
IFRF.TO
- 1D
- 0.00%
- 1M
- 0.52%
- 6M
- 0.79%
- YTD
- 1.18%
- 1Y
- 1.55%
- 3Y*
- 2.46%
- 5Y*
- 1.67%
- 10Y*
- —
- ALL TIME*
- 1.63%
ICPB.TO
- 1D
- 0.00%
- 1M
- -0.69%
- 6M
- 0.20%
- YTD
- 0.84%
- 1Y
- 3.00%
- 3Y*
- 4.80%
- 5Y*
- 1.80%
- 10Y*
- —
- ALL TIME*
- 2.76%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$109.45K | CA$91.77K | CA$92.24K | |
| CA$79.18 | CA$1.23K | CA$15.94K |
IFRF.TO vs. ICPB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IFRF.TO IA Clarington Loomis Floating Rate Income Fund | 1.18% | 0.01% | 2.53% | 7.67% | -4.29% | 3.42% | -0.18% | 0.97% |
ICPB.TO IA Clarington Agile Core Plus Bond Fund Series ETF | 0.84% | 3.82% | 5.85% | 5.99% | -7.24% | 2.38% | 5.12% | 1.06% |
Correlation
The correlation between IFRF.TO and ICPB.TO is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Nov 4, 2019 | 0.08 |
The correlation between IFRF.TO and ICPB.TO shifts across timeframes, from -0.03 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IFRF.TO vs. ICPB.TO — Risk / Return Rank
IFRF.TO
ICPB.TO
IFRF.TO vs. ICPB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IA Clarington Loomis Floating Rate Income Fund (IFRF.TO) and IA Clarington Agile Core Plus Bond Fund Series ETF (ICPB.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.
| IFRF.TO | ICPB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.13 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.93 | 1.39 | -0.46 |
| Martin ratioReturn relative to average drawdown | 2.02 | 4.91 | -2.88 |
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Drawdowns
IFRF.TO vs. ICPB.TO - Drawdown Comparison
The maximum IFRF.TO drawdown since its inception was -21.67%, which is greater than ICPB.TO's maximum drawdown of -16.58%. Use the drawdown chart below to compare losses from any high point for IFRF.TO and ICPB.TO.
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Drawdown Indicators
| IFRF.TO | ICPB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.67% | -16.58% | -5.09% |
Max Drawdown (1Y)Largest decline over 1 year | -1.67% | -2.17% | +0.50% |
Max Drawdown (3Y)Largest decline over 3 years | -4.61% | -3.00% | -1.61% |
Max Drawdown (5Y)Largest decline over 5 years | -6.54% | -10.41% | +3.87% |
Current DrawdownCurrent decline from peak | 0.00% | -0.85% | +0.85% |
Average DrawdownAverage peak-to-trough decline | -2.05% | -2.43% | +0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.61% | +0.16% |
Volatility
IFRF.TO vs. ICPB.TO - Volatility Comparison
IA Clarington Loomis Floating Rate Income Fund (IFRF.TO) has a higher volatility of 1.05% compared to IA Clarington Agile Core Plus Bond Fund Series ETF (ICPB.TO) at 1.00%. This indicates that IFRF.TO's price experiences larger fluctuations and is considered to be riskier than ICPB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IFRF.TO | ICPB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 1.00% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.66% | 2.86% | -0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.70% | 4.00% | -0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.51% | 5.31% | -0.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.81% | 9.13% | -0.32% |
IFRF.TO vs. ICPB.TO - Expense Ratio Comparison
IFRF.TO has a 0.93% expense ratio, which is higher than ICPB.TO's 0.64% expense ratio.
Dividends
IFRF.TO vs. ICPB.TO - Dividend Comparison
IFRF.TO's dividend yield for the trailing twelve months is around 6.95%, more than ICPB.TO's 4.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ICPB.TO IA Clarington Agile Core Plus Bond Fund Series ETF | 4.63% | 4.19% | 4.69% | 4.25% | 4.45% | 3.03% | 2.86% | 2.82% | 0.19% |
IFRF.TO IA Clarington Loomis Floating Rate Income Fund | 6.95% | 6.91% | 7.69% | 7.74% | 5.66% | 3.88% | 3.36% | 0.47% | 0.00% |
Frequently Asked Questions
IFRF.TO and ICPB.TO have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICPB.TO is cheaper at 0.64% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICPB.TO is cheaper with a 0.64% expense ratio, compared with 0.93% for IFRF.TO.
IFRF.TO is categorized as Bank Loan, while ICPB.TO is Intermediate Core-Plus Bond. Their fees differ too: 0.93% for IFRF.TO and 0.64% for ICPB.TO.
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