PSB.TO vs. XHB.TO
PSB.TO (Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF) and XHB.TO (iShares Canadian HYBrid 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 XHB.TO tracks the Morningstar Can Corp Bd GR CAD. Both are passively managed. Over the past 10 years, PSB.TO returned 2.68%/yr vs 3.84%/yr for XHB.TO. At a 0.40 correlation, their price movements are largely independent. PSB.TO charges 0.28%/yr vs 0.50%/yr for XHB.TO.
Performance
PSB.TO vs. XHB.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 XHB.TO's 2.20% return. Over the past 10 years, PSB.TO has underperformed XHB.TO with an annualized return of 2.68%, while XHB.TO has yielded a comparatively higher 3.84% annualized return.
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%
XHB.TO
- 1D
- -0.10%
- 1M
- 0.03%
- 6M
- 2.31%
- YTD
- 2.20%
- 1Y
- 5.27%
- 3Y*
- 7.47%
- 5Y*
- 3.03%
- 10Y*
- 3.84%
PSB.TO vs. XHB.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% |
XHB.TO iShares Canadian HYBrid Corporate Bond Index ETF | 2.20% | 5.34% | 8.02% | 10.06% | -9.67% | 0.02% | 8.71% | 8.59% | 0.59% | 4.49% |
Correlation
The correlation between PSB.TO and XHB.TO is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jun 20, 2011 | 0.40 |
The correlation between PSB.TO and XHB.TO shifts across timeframes, from 0.40 (all time) to 0.59 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
PSB.TO vs. XHB.TO — Risk / Return Rank
PSB.TO
XHB.TO
PSB.TO vs. XHB.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 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.
| PSB.TO | XHB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.29 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 2.19 | +0.55 |
| Martin ratioReturn relative to average drawdown | 8.23 | 7.28 | +0.95 |
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Drawdowns
PSB.TO vs. XHB.TO - Drawdown Comparison
The maximum PSB.TO drawdown since its inception was -13.24%, smaller than the maximum XHB.TO drawdown of -26.50%. Use the drawdown chart below to compare losses from any high point for PSB.TO and XHB.TO.
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Drawdown Indicators
| PSB.TO | XHB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.24% | -26.50% | +13.26% |
Max Drawdown (1Y)Largest decline over 1 year | -1.38% | -2.42% | +1.04% |
Max Drawdown (3Y)Largest decline over 3 years | -1.89% | -3.18% | +1.29% |
Max Drawdown (5Y)Largest decline over 5 years | -7.93% | -13.94% | +6.01% |
Max Drawdown (10Y)Largest decline over 10 years | -13.24% | -26.50% | +13.26% |
Current DrawdownCurrent decline from peak | -0.23% | -0.30% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -1.00% | -2.08% | +1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 0.73% | -0.27% |
Volatility
PSB.TO vs. XHB.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 Canadian HYBrid Corporate Bond Index ETF (XHB.TO) has a volatility of 0.98%. This indicates that PSB.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
| PSB.TO | XHB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.61% | 0.98% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 1.91% | 2.67% | -0.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.77% | 3.30% | -0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.31% | 5.54% | -2.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.85% | 11.03% | -6.18% |
PSB.TO vs. XHB.TO - Expense Ratio Comparison
PSB.TO has a 0.28% expense ratio, which is lower than XHB.TO's 0.50% expense ratio.
Dividends
PSB.TO vs. XHB.TO - Dividend Comparison
PSB.TO's dividend yield for the trailing twelve months is around 3.21%, less than XHB.TO's 4.54% 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% |
XHB.TO iShares Canadian HYBrid Corporate Bond Index ETF | 4.54% | 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
PSB.TO and XHB.TO have a correlation of 0.44, 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 0.50% for XHB.TO.
PSB.TO tracks FTSE Canada Investment Grade 1-5 Year Laddered Corporate Bond Index, while XHB.TO tracks Morningstar Can Corp Bd GR CAD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.28% for PSB.TO and 0.50% for XHB.TO.
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