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MSFT.TO vs. XBAL.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MSFT.TO vs. XBAL.TO

Last updated Jun 5, 2026

MSFT.TO (Microsoft CDR (CAD Hedged)) is a stock, while XBAL.TO (iShares Core Balanced ETF Portfolio) is Diversified Portfolio fund actively managed by iShares. Over the past 3 years, MSFT.TO returned 7.16%/yr vs 14.47%/yr for XBAL.TO. A 0.57 correlation means they provide meaningful diversification when combined.

Performance

MSFT.TO vs. XBAL.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Microsoft CDR (CAD Hedged) (MSFT.TO) and iShares Core Balanced ETF Portfolio (XBAL.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MSFT.TO achieves a -12.04% return, which is significantly lower than XBAL.TO's 8.30% return.

MSFT.TO

1D
0.17%
1M
4.12%
YTD
-12.04%
6M
-11.71%
1Y
-9.36%
3Y*
7.16%
5Y*
—
10Y*
—

XBAL.TO

1D
0.45%
1M
4.08%
YTD
8.30%
6M
6.25%
1Y
17.97%
3Y*
14.47%
5Y*
8.24%
10Y*
7.68%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MSFT.TO vs. XBAL.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021
MSFT.TO
Microsoft CDR (CAD Hedged)		-12.04%12.65%11.26%56.34%-29.26%16.37%
XBAL.TO
iShares Core Balanced ETF Portfolio		8.30%11.87%15.76%13.01%-11.19%3.38%

Correlation

The correlation between MSFT.TO and XBAL.TO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.27

Correlation (3Y)
Calculated over the trailing 3-year period

0.46

Correlation (All Time)
Calculated using the full available price history since Oct 6, 2021

0.57

Over the past year, the correlation between MSFT.TO and XBAL.TO has dropped to 0.27 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.

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Microsoft CDR (CAD Hedged)

iShares Core Balanced ETF Portfolio

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Return for Risk

MSFT.TO vs. XBAL.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MSFT.TO
MSFT.TO Risk / Return Rank: 2727
Overall Rank
MSFT.TO Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
MSFT.TO Sortino Ratio Rank: 2323
Sortino Ratio Rank
MSFT.TO Omega Ratio Rank: 2323
Omega Ratio Rank
MSFT.TO Calmar Ratio Rank: 3333
Calmar Ratio Rank
MSFT.TO Martin Ratio Rank: 3232
Martin Ratio Rank
XBAL.TO
XBAL.TO Risk / Return Rank: 6565
Overall Rank
XBAL.TO Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
XBAL.TO Sortino Ratio Rank: 6565
Sortino Ratio Rank
XBAL.TO Omega Ratio Rank: 6767
Omega Ratio Rank
XBAL.TO Calmar Ratio Rank: 6161
Calmar Ratio Rank
XBAL.TO Martin Ratio Rank: 6969
Martin Ratio Rank
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.

MSFT.TO vs. XBAL.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Microsoft CDR (CAD Hedged) (MSFT.TO) and iShares Core Balanced ETF Portfolio (XBAL.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.

MSFT.TOXBAL.TODifference
Sharpe ratioReturn per unit of total volatility
-0.37
2.12

-2.49

Sortino ratioReturn per unit of downside risk
-0.35
2.94

-3.29

Omega ratioGain probability vs. loss probability

0.95

1.40

-0.44

Calmar ratioReturn relative to maximum drawdown

-0.27

2.98

-3.25

Martin ratioReturn relative to average drawdown

-0.57

12.49

-13.06

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSFT.TO vs. XBAL.TO - Sharpe Ratio Comparison

The current MSFT.TO Sharpe Ratio is -0.37, which is lower than the XBAL.TO Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of MSFT.TO and XBAL.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

MSFT.TOXBAL.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.37

2.12

-2.49

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.94

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.82

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.29

0.68

-0.39

Drawdowns

MSFT.TO vs. XBAL.TO - Drawdown Comparison

The maximum MSFT.TO drawdown since its inception was -37.95%, which is greater than XBAL.TO's maximum drawdown of -28.83%. Use the drawdown chart below to compare losses from any high point for MSFT.TO and XBAL.TO.

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Drawdown Indicators

MSFT.TOXBAL.TODifference

Max Drawdown

Largest peak-to-trough decline

-37.95%

-28.83%

-9.12%

Max Drawdown (1Y)

Largest decline over 1 year

-34.43%

-6.06%

-28.37%

Max Drawdown (3Y)

Largest decline over 3 years

-34.43%

-9.35%

-25.08%

Max Drawdown (5Y)

Largest decline over 5 years

—

-17.12%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-20.93%

—

Current Drawdown

Current decline from peak

-21.84%

0.00%

-21.84%

Average Drawdown

Average peak-to-trough decline

-12.38%

-3.39%

-8.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

16.56%

1.44%

+15.12%

Volatility

MSFT.TO vs. XBAL.TO - Volatility Comparison

Microsoft CDR (CAD Hedged) (MSFT.TO) has a higher volatility of 10.20% compared to iShares Core Balanced ETF Portfolio (XBAL.TO) at 3.14%. This indicates that MSFT.TO's price experiences larger fluctuations and is considered to be riskier than XBAL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MSFT.TOXBAL.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

10.20%

3.14%

+7.06%

Volatility (6M)

Calculated over the trailing 6-month period

22.50%

7.22%

+15.28%

Volatility (1Y)

Calculated over the trailing 1-year period

25.17%

8.52%

+16.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.30%

8.79%

+18.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.30%

9.37%

+17.93%

Dividends

MSFT.TO vs. XBAL.TO - Dividend Comparison

MSFT.TO's dividend yield for the trailing twelve months is around 0.84%, less than XBAL.TO's 2.09% yield.

PositionTTM20252024202320222021202020192018201720162015
MSFT.TO
Microsoft CDR (CAD Hedged)		0.84%0.71%0.73%0.75%1.07%0.18%0.00%0.00%0.00%0.00%0.00%0.00%
XBAL.TO
iShares Core Balanced ETF Portfolio		2.09%2.24%2.68%2.40%2.09%1.74%1.99%2.26%3.39%2.93%3.64%3.29%

Frequently Asked Questions

MSFT.TO and XBAL.TO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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