IJR vs. XLB.TO
IJR (iShares Core S&P Small-Cap ETF) and XLB.TO (iShares Core Canadian Long Term Bond Index ETF) are both exchange-traded funds - IJR is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index, while XLB.TO is a Canadian Government Bonds fund tracking the Morningstar Can 10+Y Core Bd GR CAD. Both are passively managed. Over the past 10 years, IJR returned 11.16%/yr vs -0.14%/yr for XLB.TO. At a correlation of -0.02, they often move in opposite directions. IJR charges 0.06%/yr vs 0.20%/yr for XLB.TO.
Performance
IJR vs. XLB.TO - Performance Comparison
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Different Trading Currencies
IJR is traded in USD, while XLB.TO is traded in CAD. To make them comparable, the XLB.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IJR achieves a 19.73% return, which is significantly higher than XLB.TO's 0.25% return. Over the past 10 years, IJR has outperformed XLB.TO with an annualized return of 11.16%, while XLB.TO has yielded a comparatively lower -0.14% annualized return.
IJR
- 1D
- 0.97%
- 1M
- 6.20%
- YTD
- 19.73%
- 6M
- 16.47%
- 1Y
- 34.35%
- 3Y*
- 14.75%
- 5Y*
- 6.25%
- 10Y*
- 11.16%
XLB.TO
- 1D
- -0.39%
- 1M
- -0.19%
- YTD
- 0.25%
- 6M
- 1.39%
- 1Y
- 1.01%
- 3Y*
- 1.86%
- 5Y*
- -4.59%
- 10Y*
- -0.14%
IJR vs. XLB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IJR iShares Core S&P Small-Cap ETF | 19.73% | 5.89% | 8.63% | 16.06% | -16.20% | 26.58% | 11.28% | 22.82% | -8.51% | 13.15% |
XLB.TO iShares Core Canadian Long Term Bond Index ETF | 0.25% | 3.99% | -7.15% | 11.81% | -26.31% | -4.54% | 13.88% | 17.71% | -7.99% | 14.89% |
Correlation
The correlation between IJR and XLB.TO is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2006 | -0.02 |
The correlation between IJR and XLB.TO shifts across timeframes, from -0.02 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IJR vs. XLB.TO — Risk / Return Rank
IJR
XLB.TO
IJR vs. XLB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P Small-Cap ETF (IJR) and iShares Core Canadian Long Term Bond Index ETF (XLB.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.
| IJR | XLB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.83 | ||
| Sortino ratioReturn per unit of downside risk | +2.58 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.03 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 3.97 | 0.18 | +3.80 |
| Martin ratioReturn relative to average drawdown | 13.35 | 0.38 | +12.97 |
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Drawdowns
IJR vs. XLB.TO - Drawdown Comparison
The maximum IJR drawdown since its inception was -58.15%, which is greater than XLB.TO's maximum drawdown of -36.38%. Use the drawdown chart below to compare losses from any high point for IJR and XLB.TO.
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Drawdown Indicators
| IJR | XLB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.15% | -36.38% | -21.77% |
Max Drawdown (1Y)Largest decline over 1 year | -8.68% | -5.76% | -2.92% |
Max Drawdown (3Y)Largest decline over 3 years | -28.02% | -14.63% | -13.39% |
Max Drawdown (5Y)Largest decline over 5 years | -28.02% | -34.20% | +6.18% |
Max Drawdown (10Y)Largest decline over 10 years | -44.36% | -36.38% | -7.98% |
Current DrawdownCurrent decline from peak | 0.00% | -24.01% | +24.01% |
Average DrawdownAverage peak-to-trough decline | -9.27% | -11.09% | +1.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 2.63% | -0.04% |
Volatility
IJR vs. XLB.TO - Volatility Comparison
iShares Core S&P Small-Cap ETF (IJR) has a higher volatility of 5.18% compared to iShares Core Canadian Long Term Bond Index ETF (XLB.TO) at 3.13%. This indicates that IJR's price experiences larger fluctuations and is considered to be riskier than XLB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IJR | XLB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.18% | 3.13% | +2.05% |
Volatility (6M)Calculated over the trailing 6-month period | 11.97% | 6.88% | +5.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.76% | 8.96% | +8.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.43% | 13.88% | +7.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.92% | 13.36% | +9.56% |
IJR vs. XLB.TO - Expense Ratio Comparison
IJR has a 0.06% expense ratio, which is lower than XLB.TO's 0.20% 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
IJR vs. XLB.TO - Dividend Comparison
IJR's dividend yield for the trailing twelve months is around 1.11%, less than XLB.TO's 4.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IJR iShares Core S&P Small-Cap ETF | 1.11% | 1.44% | 2.05% | 1.31% | 1.41% | 1.53% | 1.11% | 1.44% | 1.58% | 1.20% | 1.22% | 1.48% |
XLB.TO iShares Core Canadian Long Term Bond Index ETF | 4.02% | 4.05% | 3.82% | 3.73% | 3.97% | 3.03% | 2.90% | 3.18% | 3.56% | 3.45% | 3.62% | 3.64% |
Frequently Asked Questions
IJR and XLB.TO have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IJR is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IJR is cheaper with a 0.06% expense ratio, compared with 0.20% for XLB.TO.
IJR is categorized as Small Cap Blend Equities, while XLB.TO is Canadian Government Bonds. IJR tracks S&P SmallCap 600 Index, while XLB.TO tracks Morningstar Can 10+Y Core Bd GR CAD. Their fees differ too: 0.06% for IJR and 0.20% for XLB.TO.
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