PSB.TO vs. XCB.TO
PSB.TO (Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF) and XCB.TO (iShares Core Canadian Corporate Bond Index ETF) are both Corporate Bonds funds - PSB.TO tracks the FTSE Canada Investment Grade 1-5 Year Laddered Corporate Bond Index while XCB.TO tracks the FTSE Canada All Corporate Bond Index. Both are passively managed. Over the past 10 years, PSB.TO returned 2.68%/yr vs 2.68%/yr for XCB.TO. A 0.53 correlation means they provide meaningful diversification when combined. PSB.TO charges 0.28%/yr vs 0.17%/yr for XCB.TO.
Performance
PSB.TO vs. XCB.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 lower than XCB.TO's 1.85% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: PSB.TO at 2.68% and XCB.TO at 2.68%.
PSB.TO
- 1D
- 0.11%
- 1M
- 0.21%
- 6M
- 1.49%
- YTD
- 1.49%
- 1Y
- 3.77%
- 3Y*
- 6.00%
- 5Y*
- 2.96%
- 10Y*
- 2.68%
XCB.TO
- 1D
- 0.05%
- 1M
- 0.10%
- 6M
- 2.05%
- YTD
- 1.85%
- 1Y
- 4.37%
- 3Y*
- 6.30%
- 5Y*
- 2.22%
- 10Y*
- 2.68%
PSB.TO vs. XCB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 4.25% | 1.59% | 0.23% |
XCB.TO iShares Core Canadian Corporate Bond Index ETF | 1.85% | 4.45% | 6.72% | 8.30% | -9.79% | -1.81% | 8.36% | 7.90% | 0.39% | 2.75% |
Correlation
The correlation between PSB.TO and XCB.TO is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jun 20, 2011 | 0.53 |
The correlation between PSB.TO and XCB.TO shifts across timeframes, from 0.53 (all time) to 0.68 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PSB.TO vs. XCB.TO — Risk / Return Rank
PSB.TO
XCB.TO
PSB.TO vs. XCB.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 iShares Core Canadian Corporate Bond Index ETF (XCB.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 | XCB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.21 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 1.76 | +0.97 |
| Martin ratioReturn relative to average drawdown | 8.23 | 5.25 | +2.98 |
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Drawdowns
PSB.TO vs. XCB.TO - Drawdown Comparison
The maximum PSB.TO drawdown since its inception was -13.24%, smaller than the maximum XCB.TO drawdown of -22.59%. Use the drawdown chart below to compare losses from any high point for PSB.TO and XCB.TO.
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Drawdown Indicators
| PSB.TO | XCB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.24% | -22.59% | +9.35% |
Max Drawdown (1Y)Largest decline over 1 year | -1.38% | -2.49% | +1.11% |
Max Drawdown (3Y)Largest decline over 3 years | -1.89% | -3.56% | +1.67% |
Max Drawdown (5Y)Largest decline over 5 years | -7.93% | -14.17% | +6.24% |
Max Drawdown (10Y)Largest decline over 10 years | -13.24% | -22.59% | +9.35% |
Current DrawdownCurrent decline from peak | -0.23% | -0.30% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -1.00% | -2.11% | +1.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 0.84% | -0.38% |
Volatility
PSB.TO vs. XCB.TO - Volatility Comparison
The current volatility for Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB.TO) is 0.61%, while iShares Core Canadian Corporate Bond Index ETF (XCB.TO) has a volatility of 1.25%. This indicates that PSB.TO experiences smaller price fluctuations and is considered to be less risky than XCB.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 | XCB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.61% | 1.25% | -0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 1.91% | 3.00% | -1.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.77% | 3.84% | -1.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.31% | 5.68% | -2.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.85% | 7.23% | -2.38% |
PSB.TO vs. XCB.TO - Expense Ratio Comparison
PSB.TO has a 0.28% expense ratio, which is higher than XCB.TO's 0.17% expense ratio.
Dividends
PSB.TO vs. XCB.TO - Dividend Comparison
PSB.TO's dividend yield for the trailing twelve months is around 3.21%, less than XCB.TO's 4.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XCB.TO iShares Core Canadian Corporate Bond Index ETF | 4.15% | 4.10% | 4.00% | 3.69% | 3.55% | 3.01% | 2.75% | 2.95% | 3.10% | 3.07% | 3.19% | 3.31% |
Frequently Asked Questions
PSB.TO and XCB.TO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XCB.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XCB.TO is cheaper with a 0.17% expense ratio, compared with 0.28% for PSB.TO.
PSB.TO tracks FTSE Canada Investment Grade 1-5 Year Laddered Corporate Bond Index, while XCB.TO tracks FTSE Canada All Corporate Bond Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.28% for PSB.TO and 0.17% for XCB.TO.
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