PBD.TO vs. XFLI.TO
PBD.TO (Purpose Total Return Bond Fund) and XFLI.TO (iShares Flexible Monthly Income ETF CAD) are both exchange-traded funds - PBD.TO is a Multisector Bonds fund actively managed by Purpose Investments Inc., while XFLI.TO is a High Yield Bonds fund actively managed by iShares. Both are actively managed. Over the past year, PBD.TO returned 1.56% vs 7.23% for XFLI.TO. At a 0.04 correlation, their price movements are largely independent.
Performance
PBD.TO vs. XFLI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PBD.TO achieves a 0.08% return, which is significantly lower than XFLI.TO's 3.13% return.
PBD.TO
- 1D
- -0.43%
- 1M
- -0.98%
- 6M
- -0.28%
- YTD
- 0.08%
- 1Y
- 1.56%
- 3Y*
- 4.57%
- 5Y*
- 1.51%
- 10Y*
- 2.02%
- ALL TIME*
- 2.30%
XFLI.TO
- 1D
- 0.10%
- 1M
- -1.53%
- 6M
- 2.95%
- YTD
- 3.13%
- 1Y
- 7.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.32%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$31.97K | CA$21.56K | CA$18.22K | |
| CA$99.87K | CA$131.75K | CA$126.08K |
PBD.TO vs. XFLI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PBD.TO Purpose Total Return Bond Fund | 0.08% | 4.22% | -0.62% |
XFLI.TO iShares Flexible Monthly Income ETF CAD | 3.13% | 2.07% | 6.23% |
Correlation
The correlation between PBD.TO and XFLI.TO is 0.05, 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 | 0.05 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2024 | 0.04 |
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Return for Risk
PBD.TO vs. XFLI.TO — Risk / Return Rank
PBD.TO
XFLI.TO
PBD.TO vs. XFLI.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Total Return Bond Fund (PBD.TO) and iShares Flexible Monthly Income ETF CAD (XFLI.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.
| PBD.TO | XFLI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.89 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.26 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.71 | 1.75 | -1.04 |
| Martin ratioReturn relative to average drawdown | 2.55 | 3.69 | -1.13 |
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Drawdowns
PBD.TO vs. XFLI.TO - Drawdown Comparison
The maximum PBD.TO drawdown since its inception was -17.68%, which is greater than XFLI.TO's maximum drawdown of -6.92%. Use the drawdown chart below to compare losses from any high point for PBD.TO and XFLI.TO.
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Drawdown Indicators
| PBD.TO | XFLI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.68% | -6.92% | -10.76% |
Max Drawdown (1Y)Largest decline over 1 year | -2.19% | -4.15% | +1.96% |
Max Drawdown (3Y)Largest decline over 3 years | -3.41% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -10.12% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -17.68% | — | — |
Current DrawdownCurrent decline from peak | -1.40% | -2.13% | +0.73% |
Average DrawdownAverage peak-to-trough decline | -2.34% | -2.05% | -0.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 1.96% | -1.35% |
Volatility
PBD.TO vs. XFLI.TO - Volatility Comparison
Purpose Total Return Bond Fund (PBD.TO) has a higher volatility of 1.25% compared to iShares Flexible Monthly Income ETF CAD (XFLI.TO) at 1.06%. This indicates that PBD.TO's price experiences larger fluctuations and is considered to be riskier than XFLI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBD.TO | XFLI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 1.06% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 4.24% | -1.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.85% | 5.59% | -1.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.81% | 6.31% | -1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.79% | 6.31% | +0.48% |
Dividends
PBD.TO vs. XFLI.TO - Dividend Comparison
PBD.TO's dividend yield for the trailing twelve months is around 4.36%, less than XFLI.TO's 5.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBD.TO Purpose Total Return Bond Fund | 4.36% | 4.28% | 4.27% | 4.25% | 3.80% | 3.43% | 3.32% | 3.68% | 3.85% | 4.50% | 3.68% | 3.81% |
XFLI.TO iShares Flexible Monthly Income ETF CAD | 5.45% | 5.69% | 2.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PBD.TO and XFLI.TO have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PBD.TO is categorized as Multisector Bonds, while XFLI.TO is High Yield Bonds. They also come from different issuers: Purpose Investments Inc. and iShares.
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