PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
RY.TO vs. XSB.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RY.TO vs. XSB.TO

Last updated Jun 13, 2026

RY.TO (Royal Bank of Canada) is a stock, while XSB.TO (iShares Core Canadian Short Term Bond Index ETF) is Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD. Over the past 10 years, RY.TO returned 18.12%/yr vs 1.97%/yr for XSB.TO. At a correlation of -0.11, they often move in opposite directions.

Performance

RY.TO vs. XSB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Royal Bank of Canada (RY.TO) and iShares Core Canadian Short Term Bond Index ETF (XSB.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, RY.TO achieves a 20.87% return, which is significantly higher than XSB.TO's 1.18% return. Over the past 10 years, RY.TO has outperformed XSB.TO with an annualized return of 18.12%, while XSB.TO has yielded a comparatively lower 1.97% annualized return.

RY.TO

1D
0.36%
1M
10.50%
YTD
20.87%
6M
23.89%
1Y
65.59%
3Y*
35.54%
5Y*
21.56%
10Y*
18.12%

XSB.TO

1D
0.00%
1M
0.82%
YTD
1.18%
6M
1.40%
1Y
3.30%
3Y*
4.97%
5Y*
2.05%
10Y*
1.97%
*Multi-year figures are annualized to reflect compound growth (CAGR)

RY.TO vs. XSB.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
RY.TO
Royal Bank of Canada		20.87%39.60%34.37%9.80%-1.52%33.09%6.52%14.33%-5.50%17.12%
XSB.TO
iShares Core Canadian Short Term Bond Index ETF		1.18%3.70%5.87%4.67%-4.04%-1.11%5.20%3.20%1.60%0.13%

Correlation

The correlation between RY.TO and XSB.TO is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.24

Correlation (3Y)
Calculated over the trailing 3-year period

0.17

Correlation (5Y)
Calculated over the trailing 5-year period

0.08

Correlation (10Y)
Calculated over the trailing 10-year period

0.01

Correlation (All Time)
Calculated using the full available price history since Jul 12, 2006

-0.11

The correlation between RY.TO and XSB.TO shifts across timeframes, from -0.11 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Royal Bank of Canada

iShares Core Canadian Short Term Bond Index ETF

Often compared with RY.TO:
RY.TO vs. TD.TORY.TO vs. VDY.TORY.TO vs. BMO.TORY.TO vs. CNR.TORY.TO vs. BNS.TORY.TO vs. XDIV.TORY.TO vs. CM.TO
Often compared with XSB.TO:
XSB.TO vs. XBB.TOXSB.TO vs. ZAG.TOXSB.TO vs. VSB.TOXSB.TO vs. XSH.TOXSB.TO vs. XCB.TOXSB.TO vs. XLB.TOXSB.TO vs. ZCS.TO

Return for Risk

RY.TO vs. XSB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RY.TO
RY.TO Risk / Return Rank: 9898
Overall Rank
RY.TO Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
RY.TO Sortino Ratio Rank: 9999
Sortino Ratio Rank
RY.TO Omega Ratio Rank: 9999
Omega Ratio Rank
RY.TO Calmar Ratio Rank: 9797
Calmar Ratio Rank
RY.TO Martin Ratio Rank: 9898
Martin Ratio Rank
XSB.TO
XSB.TO Risk / Return Rank: 5454
Overall Rank
XSB.TO Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
XSB.TO Sortino Ratio Rank: 5555
Sortino Ratio Rank
XSB.TO Omega Ratio Rank: 6060
Omega Ratio Rank
XSB.TO Calmar Ratio Rank: 5050
Calmar Ratio Rank
XSB.TO Martin Ratio Rank: 4949
Martin Ratio Rank
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.

RY.TO vs. XSB.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royal Bank of Canada (RY.TO) and iShares Core Canadian Short Term Bond Index ETF (XSB.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.

RY.TOXSB.TODifference
Sharpe ratioReturn per unit of total volatility
4.65
1.62

+3.04

Sortino ratioReturn per unit of downside risk
6.62
2.31

+4.30

Omega ratioGain probability vs. loss probability

1.85

1.32

+0.54

Calmar ratioReturn relative to maximum drawdown

7.91

2.20

+5.72

Martin ratioReturn relative to average drawdown

29.39

7.28

+22.11

RY.TO vs. XSB.TO - Sharpe Ratio Comparison

The current RY.TO Sharpe Ratio is 4.65, which is higher than the XSB.TO Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of RY.TO and XSB.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.

Loading charts...

Drawdowns

RY.TO vs. XSB.TO - Drawdown Comparison

The maximum RY.TO drawdown since its inception was -54.03%, which is greater than XSB.TO's maximum drawdown of -8.65%. Use the drawdown chart below to compare losses from any high point for RY.TO and XSB.TO.

Loading charts...

Drawdown Indicators

RY.TOXSB.TODifference

Max Drawdown

Largest peak-to-trough decline

-54.03%

-8.65%

-45.38%

Max Drawdown (1Y)

Largest decline over 1 year

-8.12%

-1.47%

-6.65%

Max Drawdown (3Y)

Largest decline over 3 years

-16.00%

-1.47%

-14.53%

Max Drawdown (5Y)

Largest decline over 5 years

-21.21%

-6.99%

-14.22%

Max Drawdown (10Y)

Largest decline over 10 years

-33.84%

-8.65%

-25.19%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-6.72%

-0.79%

-5.93%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.18%

0.44%

+1.74%

Volatility

RY.TO vs. XSB.TO - Volatility Comparison

Royal Bank of Canada (RY.TO) has a higher volatility of 4.23% compared to iShares Core Canadian Short Term Bond Index ETF (XSB.TO) at 0.71%. This indicates that RY.TO's price experiences larger fluctuations and is considered to be riskier than XSB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

RY.TOXSB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.23%

0.71%

+3.52%

Volatility (6M)

Calculated over the trailing 6-month period

10.44%

1.61%

+8.83%

Volatility (1Y)

Calculated over the trailing 1-year period

13.82%

2.00%

+11.82%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.93%

2.72%

+12.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.26%

3.40%

+13.86%

Dividends

RY.TO vs. XSB.TO - Dividend Comparison

RY.TO's dividend yield for the trailing twelve months is around 2.28%, less than XSB.TO's 3.10% yield.

PositionTTM20252024202320222021202020192018201720162015
RY.TO
Royal Bank of Canada		2.28%2.58%3.23%3.99%3.90%3.22%4.10%3.96%4.03%3.39%3.57%4.15%
XSB.TO
iShares Core Canadian Short Term Bond Index ETF		3.10%3.15%3.05%2.67%2.28%2.05%2.21%2.39%2.39%2.36%2.36%2.50%

Frequently Asked Questions

RY.TO and XSB.TO have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Portfolio Optimizer

Find the right allocation for RY.TO and XSB.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer