MCSB.TO vs. XSB.TO
MCSB.TO (Mackenzie Canadian Short Term Fixed Income ETF) and XSB.TO (iShares Core Canadian Short Term Bond Index ETF) are both Short-Term Bond funds. MCSB.TO is actively managed, while XSB.TO is passively managed. Over the past 5 years, MCSB.TO returned 5.00%/yr vs 2.08%/yr for XSB.TO. At a 0.34 correlation, their price movements are largely independent.
Performance
MCSB.TO vs. XSB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MCSB.TO achieves a 1.47% return, which is significantly higher than XSB.TO's 1.21% return.
MCSB.TO
- 1D
- 0.15%
- 1M
- 0.06%
- 6M
- 1.06%
- YTD
- 1.47%
- 1Y
- 3.36%
- 3Y*
- 5.41%
- 5Y*
- 5.00%
- 10Y*
- —
XSB.TO
- 1D
- 0.15%
- 1M
- -0.00%
- 6M
- 0.91%
- YTD
- 1.21%
- 1Y
- 3.45%
- 3Y*
- 4.89%
- 5Y*
- 2.08%
- 10Y*
- 1.98%
MCSB.TO vs. XSB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MCSB.TO Mackenzie Canadian Short Term Fixed Income ETF | 1.47% | 3.93% | 6.41% | 5.77% | -4.18% | 11.34% | 5.66% | 3.79% | 1.50% | -0.06% |
XSB.TO iShares Core Canadian Short Term Bond Index ETF | 1.21% | 3.70% | 5.87% | 4.67% | -4.04% | -1.11% | 5.20% | 3.20% | 1.60% | -0.14% |
Correlation
The correlation between MCSB.TO and XSB.TO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 2017 | 0.34 |
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Return for Risk
MCSB.TO vs. XSB.TO — Risk / Return Rank
MCSB.TO
XSB.TO
MCSB.TO vs. XSB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mackenzie Canadian Short Term Fixed Income ETF (MCSB.TO) 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.
| MCSB.TO | XSB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.34 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.27 | 2.35 | -0.08 |
| Martin ratioReturn relative to average drawdown | 6.58 | 7.96 | -1.38 |
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Drawdowns
MCSB.TO vs. XSB.TO - Drawdown Comparison
The maximum MCSB.TO drawdown since its inception was -8.35%, roughly equal to the maximum XSB.TO drawdown of -8.65%. Use the drawdown chart below to compare losses from any high point for MCSB.TO and XSB.TO.
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Drawdown Indicators
| MCSB.TO | XSB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.35% | -8.65% | +0.30% |
Max Drawdown (1Y)Largest decline over 1 year | -1.49% | -1.47% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -1.49% | -1.47% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -6.24% | -6.99% | +0.75% |
Max Drawdown (10Y)Largest decline over 10 years | — | -8.65% | — |
Current DrawdownCurrent decline from peak | -0.34% | -0.30% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -1.05% | -0.79% | -0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 0.43% | +0.08% |
Volatility
MCSB.TO vs. XSB.TO - Volatility Comparison
Mackenzie Canadian Short Term Fixed Income ETF (MCSB.TO) has a higher volatility of 0.71% compared to iShares Core Canadian Short Term Bond Index ETF (XSB.TO) at 0.61%. This indicates that MCSB.TO'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
| MCSB.TO | XSB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 0.61% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 1.62% | 1.70% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.26% | 2.03% | +0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.42% | 2.73% | +3.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.83% | 3.40% | +2.43% |
Dividends
MCSB.TO vs. XSB.TO - Dividend Comparison
MCSB.TO's dividend yield for the trailing twelve months is around 3.12%, which matches XSB.TO's 3.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MCSB.TO Mackenzie Canadian Short Term Fixed Income ETF | 3.12% | 3.16% | 3.17% | 3.18% | 2.47% | 12.93% | 2.47% | 2.31% | 2.91% | 0.14% | 0.00% | 0.00% |
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
MCSB.TO and XSB.TO have a correlation of 0.33, 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: Mackenzie and iShares.
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