PSB.TO vs. CACB.TO
PSB.TO (Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF) and CACB.TO (CIBC Active Investment Grade Corporate Bond ETF) are both Corporate Bonds funds. PSB.TO is passively managed, while CACB.TO is actively managed. Over the past 5 years, PSB.TO returned 2.93%/yr vs 2.04%/yr for CACB.TO. At a 0.42 correlation, their price movements are largely independent. PSB.TO charges 0.28%/yr vs 0.40%/yr for CACB.TO.
Performance
PSB.TO vs. CACB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PSB.TO achieves a 1.49% return, which is significantly higher than CACB.TO's 1.34% return.
PSB.TO
- 1D
- -0.11%
- 1M
- -0.07%
- 6M
- 1.15%
- YTD
- 1.49%
- 1Y
- 3.94%
- 3Y*
- 5.98%
- 5Y*
- 2.93%
- 10Y*
- 2.69%
CACB.TO
- 1D
- -0.25%
- 1M
- -0.52%
- 6M
- 0.69%
- YTD
- 1.34%
- 1Y
- 4.72%
- 3Y*
- 6.20%
- 5Y*
- 2.04%
- 10Y*
- —
PSB.TO vs. CACB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PSB.TO Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF | 1.49% | 4.68% | 7.08% | 6.44% | -3.89% | -0.97% | 6.08% | 4.37% |
CACB.TO CIBC Active Investment Grade Corporate Bond ETF | 1.34% | 4.34% | 7.21% | 8.55% | -9.72% | -2.45% | 9.82% | 7.33% |
Correlation
The correlation between PSB.TO and CACB.TO is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jan 22, 2019 | 0.42 |
The correlation between PSB.TO and CACB.TO shifts across timeframes, from 0.40 (1 year) to 0.53 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
PSB.TO vs. CACB.TO — Risk / Return Rank
PSB.TO
CACB.TO
PSB.TO vs. CACB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB.TO) and CIBC Active Investment Grade Corporate Bond ETF (CACB.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.
| PSB.TO | CACB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.24 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.86 | 1.83 | +1.03 |
| Martin ratioReturn relative to average drawdown | 8.73 | 5.66 | +3.08 |
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Drawdowns
PSB.TO vs. CACB.TO - Drawdown Comparison
The maximum PSB.TO drawdown since its inception was -13.24%, smaller than the maximum CACB.TO drawdown of -15.56%. Use the drawdown chart below to compare losses from any high point for PSB.TO and CACB.TO.
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Drawdown Indicators
| PSB.TO | CACB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.24% | -15.56% | +2.32% |
Max Drawdown (1Y)Largest decline over 1 year | -1.38% | -2.59% | +1.21% |
Max Drawdown (3Y)Largest decline over 3 years | -1.89% | -3.36% | +1.47% |
Max Drawdown (5Y)Largest decline over 5 years | -7.93% | -14.52% | +6.59% |
Max Drawdown (10Y)Largest decline over 10 years | -13.24% | — | — |
Current DrawdownCurrent decline from peak | -0.28% | -0.77% | +0.49% |
Average DrawdownAverage peak-to-trough decline | -1.00% | -3.83% | +2.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 0.84% | -0.39% |
Volatility
PSB.TO vs. CACB.TO - Volatility Comparison
The current volatility for Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB.TO) is 0.68%, while CIBC Active Investment Grade Corporate Bond ETF (CACB.TO) has a volatility of 1.20%. This indicates that PSB.TO experiences smaller price fluctuations and is considered to be less risky than CACB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSB.TO | CACB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 1.20% | -0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 1.95% | 2.91% | -0.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.75% | 3.72% | -0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.32% | 5.66% | -2.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.85% | 6.16% | -1.31% |
PSB.TO vs. CACB.TO - Expense Ratio Comparison
PSB.TO has a 0.28% expense ratio, which is lower than CACB.TO's 0.40% expense ratio.
Dividends
PSB.TO vs. CACB.TO - Dividend Comparison
PSB.TO's dividend yield for the trailing twelve months is around 3.21%, less than CACB.TO's 4.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CACB.TO CIBC Active Investment Grade Corporate Bond ETF | 4.45% | 4.46% | 4.24% | 3.59% | 3.11% | 2.78% | 2.41% | 2.45% | 0.00% | 0.00% | 0.00% | 0.00% |
PSB.TO Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF | 3.21% | 3.18% | 3.12% | 3.09% | 3.13% | 2.91% | 2.74% | 3.00% | 3.37% | 3.61% | 4.01% | 4.04% |
Frequently Asked Questions
PSB.TO and CACB.TO have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PSB.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PSB.TO is cheaper with a 0.28% expense ratio, compared with 0.40% for CACB.TO.
They also come from different issuers: Invesco and CIBC. Their fees differ too: 0.28% for PSB.TO and 0.40% for CACB.TO.
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