PSA.TO vs. XHB.TO
PSA.TO (Purpose High Interest Savings Fund) and XHB.TO (iShares Canadian HYBrid Corporate Bond Index ETF) are both exchange-traded funds - PSA.TO is a Money Market fund actively managed by Purpose Investments, while XHB.TO is a Corporate Bonds fund tracking the Morningstar Can Corp Bd GR CAD. PSA.TO is actively managed, while XHB.TO is passively managed. Over the past 10 years, PSA.TO returned 2.27%/yr vs 3.73%/yr for XHB.TO. At a 0.02 correlation, their price movements are largely independent. PSA.TO charges 0.17%/yr vs 0.50%/yr for XHB.TO.
Performance
PSA.TO vs. XHB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PSA.TO achieves a 1.19% return, which is significantly lower than XHB.TO's 1.95% return. Over the past 10 years, PSA.TO has underperformed XHB.TO with an annualized return of 2.27%, while XHB.TO has yielded a comparatively higher 3.73% annualized return.
PSA.TO
- 1D
- 0.02%
- 1M
- 0.22%
- 6M
- 1.09%
- YTD
- 1.19%
- 1Y
- 2.33%
- 3Y*
- 3.61%
- 5Y*
- 3.22%
- 10Y*
- 2.27%
XHB.TO
- 1D
- 0.10%
- 1M
- -0.27%
- 6M
- 1.34%
- YTD
- 1.95%
- 1Y
- 5.59%
- 3Y*
- 7.24%
- 5Y*
- 2.87%
- 10Y*
- 3.73%
PSA.TO vs. XHB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSA.TO Purpose High Interest Savings Fund | 1.19% | 2.64% | 4.55% | 5.13% | 2.32% | 0.61% | 0.93% | 2.22% | 1.65% | 1.08% |
XHB.TO iShares Canadian HYBrid Corporate Bond Index ETF | 1.95% | 5.34% | 8.02% | 10.06% | -9.67% | 0.02% | 8.71% | 8.59% | 0.59% | 4.49% |
Correlation
The correlation between PSA.TO and XHB.TO is -0.04, 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 | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2013 | 0.02 |
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Return for Risk
PSA.TO vs. XHB.TO — Risk / Return Rank
PSA.TO
XHB.TO
PSA.TO vs. XHB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose High Interest Savings Fund (PSA.TO) and iShares Canadian HYBrid Corporate Bond Index ETF (XHB.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.
| PSA.TO | XHB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.79 | ||
| Sortino ratioReturn per unit of downside risk | +21.08 | ||
| Omega ratioGain probability vs. loss probability | 5.80 | 1.31 | +4.49 |
| Calmar ratioReturn relative to maximum drawdown | 116.89 | 2.32 | +114.57 |
| Martin ratioReturn relative to average drawdown | 356.65 | 7.75 | +348.89 |
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Drawdowns
PSA.TO vs. XHB.TO - Drawdown Comparison
The maximum PSA.TO drawdown since its inception was -0.04%, smaller than the maximum XHB.TO drawdown of -26.50%. Use the drawdown chart below to compare losses from any high point for PSA.TO and XHB.TO.
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Drawdown Indicators
| PSA.TO | XHB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.04% | -26.50% | +26.46% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -2.42% | +2.40% |
Max Drawdown (3Y)Largest decline over 3 years | -0.02% | -2.91% | +2.89% |
Max Drawdown (5Y)Largest decline over 5 years | -0.04% | -13.94% | +13.90% |
Max Drawdown (10Y)Largest decline over 10 years | -0.04% | -26.50% | +26.46% |
Current DrawdownCurrent decline from peak | 0.00% | -0.55% | +0.55% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -2.07% | +2.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.72% | -0.71% |
Volatility
PSA.TO vs. XHB.TO - Volatility Comparison
The current volatility for Purpose High Interest Savings Fund (PSA.TO) is 0.05%, while iShares Canadian HYBrid Corporate Bond Index ETF (XHB.TO) has a volatility of 0.92%. This indicates that PSA.TO experiences smaller price fluctuations and is considered to be less risky than XHB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSA.TO | XHB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 0.92% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 0.16% | 2.70% | -2.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.25% | 3.30% | -3.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.29% | 5.54% | -5.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.25% | 11.02% | -10.77% |
PSA.TO vs. XHB.TO - Expense Ratio Comparison
PSA.TO has a 0.17% expense ratio, which is lower than XHB.TO's 0.50% expense ratio.
Dividends
PSA.TO vs. XHB.TO - Dividend Comparison
PSA.TO's dividend yield for the trailing twelve months is around 2.30%, less than XHB.TO's 4.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSA.TO Purpose High Interest Savings Fund | 2.30% | 2.61% | 4.46% | 5.05% | 2.26% | 0.59% | 0.94% | 2.18% | 1.66% | 1.07% | 0.99% | 1.07% |
XHB.TO iShares Canadian HYBrid Corporate Bond Index ETF | 4.56% | 4.48% | 4.36% | 4.23% | 4.24% | 3.51% | 3.53% | 3.81% | 4.07% | 4.08% | 4.35% | 4.78% |
Frequently Asked Questions
PSA.TO and XHB.TO have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PSA.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PSA.TO is cheaper with a 0.17% expense ratio, compared with 0.50% for XHB.TO.
PSA.TO is categorized as Money Market, while XHB.TO is Corporate Bonds. They also come from different issuers: Purpose Investments and iShares. Their fees differ too: 0.17% for PSA.TO and 0.50% for XHB.TO.
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