SHY vs. XFN.TO
SHY (iShares 1-3 Year Treasury Bond ETF) and XFN.TO (iShares S&P/TSX Capped Financials Index ETF) are both exchange-traded funds - SHY is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index, while XFN.TO is a Financials Equities fund tracking the Morningstar Gbl Fin Svc GR CAD. Both are passively managed. Over the past 10 years, SHY returned 1.65%/yr vs 14.23%/yr for XFN.TO. At a correlation of -0.18, they often move in opposite directions. SHY charges 0.15%/yr vs 0.61%/yr for XFN.TO.
Performance
SHY vs. XFN.TO - Performance Comparison
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Different Trading Currencies
SHY is traded in USD, while XFN.TO is traded in CAD. To make them comparable, the XFN.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SHY achieves a 0.55% return, which is significantly lower than XFN.TO's 15.63% return. Over the past 10 years, SHY has underperformed XFN.TO with an annualized return of 1.65%, while XFN.TO has yielded a comparatively higher 14.23% annualized return.
SHY
- 1D
- -0.02%
- 1M
- 0.19%
- YTD
- 0.55%
- 6M
- 0.80%
- 1Y
- 3.29%
- 3Y*
- 4.15%
- 5Y*
- 1.74%
- 10Y*
- 1.65%
XFN.TO
- 1D
- 0.62%
- 1M
- 5.25%
- YTD
- 15.63%
- 6M
- 17.89%
- 1Y
- 45.31%
- 3Y*
- 29.51%
- 5Y*
- 14.86%
- 10Y*
- 14.23%
SHY vs. XFN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 0.55% | 4.95% | 3.92% | 4.16% | -3.88% | -0.71% | 3.03% | 3.38% | 1.46% | 0.26% |
XFN.TO iShares S&P/TSX Capped Financials Index ETF | 15.63% | 40.83% | 19.22% | 15.85% | -15.28% | 35.64% | 3.44% | 25.85% | -16.76% | 20.71% |
Correlation
The correlation between SHY and XFN.TO is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | -0.18 |
The correlation between SHY and XFN.TO shifts across timeframes, from -0.18 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SHY vs. XFN.TO — Risk / Return Rank
SHY
XFN.TO
SHY vs. XFN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-3 Year Treasury Bond ETF (SHY) and iShares S&P/TSX Capped Financials Index ETF (XFN.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.
| SHY | XFN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.61 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.64 | 5.00 | -1.37 |
| Martin ratioReturn relative to average drawdown | 14.45 | 19.84 | -5.39 |
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Drawdowns
SHY vs. XFN.TO - Drawdown Comparison
The maximum SHY drawdown since its inception was -5.71%, smaller than the maximum XFN.TO drawdown of -67.57%. Use the drawdown chart below to compare losses from any high point for SHY and XFN.TO.
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Drawdown Indicators
| SHY | XFN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.71% | -67.57% | +61.86% |
Max Drawdown (1Y)Largest decline over 1 year | -0.89% | -9.00% | +8.11% |
Max Drawdown (3Y)Largest decline over 3 years | -0.97% | -16.26% | +15.29% |
Max Drawdown (5Y)Largest decline over 5 years | -5.71% | -28.13% | +22.42% |
Max Drawdown (10Y)Largest decline over 10 years | -5.71% | -45.08% | +39.37% |
Current DrawdownCurrent decline from peak | -0.18% | 0.00% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -0.52% | -11.15% | +10.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | 2.27% | -2.05% |
Volatility
SHY vs. XFN.TO - Volatility Comparison
The current volatility for iShares 1-3 Year Treasury Bond ETF (SHY) is 0.40%, while iShares S&P/TSX Capped Financials Index ETF (XFN.TO) has a volatility of 4.02%. This indicates that SHY experiences smaller price fluctuations and is considered to be less risky than XFN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHY | XFN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.40% | 4.02% | -3.62% |
Volatility (6M)Calculated over the trailing 6-month period | 0.95% | 10.56% | -9.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.33% | 12.81% | -11.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.99% | 15.11% | -13.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.57% | 17.99% | -16.42% |
SHY vs. XFN.TO - Expense Ratio Comparison
SHY has a 0.15% expense ratio, which is lower than XFN.TO's 0.61% expense ratio.
Dividends
SHY vs. XFN.TO - Dividend Comparison
SHY's dividend yield for the trailing twelve months is around 3.68%, more than XFN.TO's 2.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 3.68% | 3.81% | 3.92% | 2.99% | 1.30% | 0.26% | 0.94% | 2.12% | 1.72% | 0.98% | 0.71% | 0.54% |
XFN.TO iShares S&P/TSX Capped Financials Index ETF | 2.07% | 2.39% | 3.16% | 3.60% | 3.48% | 2.67% | 3.35% | 3.00% | 3.43% | 2.73% | 2.83% | 3.17% |
Frequently Asked Questions
SHY and XFN.TO have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SHY is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SHY is cheaper with a 0.15% expense ratio, compared with 0.61% for XFN.TO.
SHY is categorized as Government Bonds, while XFN.TO is Financials Equities. SHY tracks ICE US Treasury 1-3 Year Index, while XFN.TO tracks Morningstar Gbl Fin Svc GR CAD. Their fees differ too: 0.15% for SHY and 0.61% for XFN.TO.
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