PSA.TO vs. XSTB.TO

Last updated Jun 4, 2026

PSA.TO (Purpose High Interest Savings Fund) and XSTB.TO (iShares ESG Aware Canadian Short Term Bond Index ETF) are both exchange-traded funds - PSA.TO is a Money Market fund actively managed by Purpose Investments, while XSTB.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD. PSA.TO is actively managed, while XSTB.TO is passively managed. Over the past 5 years, PSA.TO returned 3.17%/yr vs 1.93%/yr for XSTB.TO. At a 0.02 correlation, their price movements are largely independent. Both charge a 0.17% expense ratio.

Performance

PSA.TO vs. XSTB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose High Interest Savings Fund (PSA.TO) and iShares ESG Aware Canadian Short Term Bond Index ETF (XSTB.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with PSA.TO at 0.89% and XSTB.TO at 0.89%.

PSA.TO

• 1D: 0.00%
• 1M: 0.17%
• YTD: 0.89%
• 6M: 1.08%
• 1Y: 2.35%
• 3Y*: 3.73%
• 5Y*: 3.17%
• 10Y*: 2.25%

XSTB.TO

• 1D: -0.08%
• 1M: 0.80%
• YTD: 0.89%
• 6M: 0.62%
• 1Y: 2.70%
• 3Y*: 4.44%
• 5Y*: 1.93%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PSA.TO vs. XSTB.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PSA.TO Purpose High Interest Savings Fund	0.89%	2.64%	4.56%	5.12%	2.34%	0.60%	0.93%	1.60%
XSTB.TO iShares ESG Aware Canadian Short Term Bond Index ETF	0.89%	3.60%	5.28%	4.86%	-3.91%	-1.12%	4.95%	1.18%

Correlation

The correlation between PSA.TO and XSTB.TO is -0.00, 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	-0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.03
Correlation (All Time) Calculated using the full available price history since Apr 11, 2019	0.02

Return for Risk

PSA.TO vs. XSTB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PSA.TO

PSA.TO Risk / Return Rank: 100
PSA.TO Sharpe Ratio Rank: 99
PSA.TO Sortino Ratio Rank: 100
PSA.TO Omega Ratio Rank: 100
PSA.TO Calmar Ratio Rank: 100
PSA.TO Martin Ratio Rank: 100

XSTB.TO

XSTB.TO Risk / Return Rank: 41
XSTB.TO Sharpe Ratio Rank: 41
XSTB.TO Sortino Ratio Rank: 39
XSTB.TO Omega Ratio Rank: 45
XSTB.TO Calmar Ratio Rank: 41
XSTB.TO Martin Ratio Rank: 39

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.

PSA.TO vs. XSTB.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 ESG Aware Canadian Short Term Bond Index ETF (XSTB.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.

	PSA.TO	XSTB.TO	Difference
Sharpe ratio: Return per unit of total volatility	10.34	1.46	+8.88
Sortino ratio: Return per unit of downside risk	28.20	2.01	+26.19
Omega ratio: Gain probability vs. loss probability	6.27	1.29	+4.99
Calmar ratio: Return relative to maximum drawdown	117.76	2.01	+115.75
Martin ratio: Return relative to average drawdown	422.79	6.08	+416.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSA.TO vs. XSTB.TO - Sharpe Ratio Comparison

The current PSA.TO Sharpe Ratio is 10.34, which is higher than the XSTB.TO Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of PSA.TO and XSTB.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.

Sharpe Ratios by Period

	PSA.TO	XSTB.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	10.34	1.46	+8.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	11.66	0.77	+10.90
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	9.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	9.26	0.79	+8.47

Drawdowns

PSA.TO vs. XSTB.TO - Drawdown Comparison

The maximum PSA.TO drawdown since its inception was -0.04%, smaller than the maximum XSTB.TO drawdown of -6.92%. Use the drawdown chart below to compare losses from any high point for PSA.TO and XSTB.TO.

Drawdown Indicators

	PSA.TO	XSTB.TO	Difference
Max Drawdown Largest peak-to-trough decline	-0.04%	-6.92%	+6.88%
Max Drawdown (1Y) Largest decline over 1 year	-0.02%	-1.35%	+1.33%
Max Drawdown (3Y) Largest decline over 3 years	-0.02%	-1.35%	+1.33%
Max Drawdown (5Y) Largest decline over 5 years	-0.04%	-6.76%	+6.72%
Max Drawdown (10Y) Largest decline over 10 years	-0.04%	—	—
Current Drawdown Current decline from peak	0.00%	-0.24%	+0.24%
Average Drawdown Average peak-to-trough decline	-0.00%	-1.42%	+1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	0.45%	-0.44%

Volatility

PSA.TO vs. XSTB.TO - Volatility Comparison

The current volatility for Purpose High Interest Savings Fund (PSA.TO) is 0.06%, while iShares ESG Aware Canadian Short Term Bond Index ETF (XSTB.TO) has a volatility of 0.69%. This indicates that PSA.TO experiences smaller price fluctuations and is considered to be less risky than XSTB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSA.TO	XSTB.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.06%	0.69%	-0.63%
Volatility (6M) Calculated over the trailing 6-month period	0.16%	1.51%	-1.35%
Volatility (1Y) Calculated over the trailing 1-year period	0.23%	1.86%	-1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.27%	2.53%	-2.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.24%	2.72%	-2.48%

PSA.TO vs. XSTB.TO - Expense Ratio Comparison

Both PSA.TO and XSTB.TO have an expense ratio of 0.17%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

PSA.TO vs. XSTB.TO - Dividend Comparison

PSA.TO's dividend yield for the trailing twelve months is around 2.33%, less than XSTB.TO's 2.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSA.TO Purpose High Interest Savings Fund	2.33%	2.61%	4.47%	5.05%	2.26%	0.59%	0.94%	2.18%	1.66%	1.07%	0.99%	1.07%
XSTB.TO iShares ESG Aware Canadian Short Term Bond Index ETF	2.88%	2.88%	2.64%	2.22%	1.93%	1.82%	2.10%	1.83%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PSA.TO and XSTB.TO in my portfolio?

PSA.TO and XSTB.TO have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PSA.TO or XSTB.TO?

Both ETFs have the same 0.17% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PSA.TO or XSTB.TO?

PSA.TO and XSTB.TO have the same expense ratio: 0.17% per year.

What is the main difference between PSA.TO and XSTB.TO?

PSA.TO is categorized as Money Market, while XSTB.TO is Canadian Government Bonds. They also come from different issuers: Purpose Investments and iShares.