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THE.TO vs. XFR.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

THE.TO vs. XFR.TO

Last updated Jun 25, 2026

THE.TO (TD International Equity CAD Hedged Index ETF) and XFR.TO (iShares Floating Rate Index ETF) are both exchange-traded funds - THE.TO is a International Equity fund tracking the Solactive GBS Developed Markets ex North America Large & Mid Cap Hedged to CAD Index, while XFR.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD. Both are passively managed. Over the past 10 years, THE.TO returned 11.78%/yr vs 2.25%/yr for XFR.TO. At a 0.03 correlation, their price movements are largely independent.

Performance

THE.TO vs. XFR.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD International Equity CAD Hedged Index ETF (THE.TO) and iShares Floating Rate Index ETF (XFR.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, THE.TO achieves a 10.71% return, which is significantly higher than XFR.TO's 1.15% return. Over the past 10 years, THE.TO has outperformed XFR.TO with an annualized return of 11.78%, while XFR.TO has yielded a comparatively lower 2.25% annualized return.

THE.TO

1D
0.00%
1M
2.08%
YTD
10.71%
6M
10.53%
1Y
25.19%
3Y*
17.14%
5Y*
11.89%
10Y*
11.78%

XFR.TO

1D
0.00%
1M
0.20%
YTD
1.15%
6M
1.23%
1Y
2.86%
3Y*
3.93%
5Y*
3.23%
10Y*
2.25%
*Multi-year figures are annualized to reflect compound growth (CAGR)

THE.TO vs. XFR.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
THE.TO
TD International Equity CAD Hedged Index ETF		10.71%21.73%12.55%18.49%-7.02%16.77%1.71%20.59%-9.06%16.28%
XFR.TO
iShares Floating Rate Index ETF		1.15%3.33%4.57%5.29%1.81%0.15%0.98%2.26%1.20%1.43%

Correlation

The correlation between THE.TO and XFR.TO is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

0.07

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

0.04

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

0.06

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

0.03

Correlation (All Time)
Calculated using the full available price history since Mar 30, 2016

0.03

Compare stocks, funds, or ETFs

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TD International Equity CAD Hedged Index ETF

iShares Floating Rate Index ETF

Often compared with THE.TO:
THE.TO vs. QDXH.TOTHE.TO vs. TCSH.TOTHE.TO vs. KNGX.TOTHE.TO vs. VXM.TOTHE.TO vs. TEQT.TOTHE.TO vs. ZLB.TOTHE.TO vs. FLVI.NEO
Often compared with XFR.TO:
XFR.TO vs. CASH.TOXFR.TO vs. ZMMK.TOXFR.TO vs. CMR.TOXFR.TO vs. XSH.TOXFR.TO vs. XBB.TOXFR.TO vs. ZST.TOXFR.TO vs. XHY.TO

Return for Risk

THE.TO vs. XFR.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
THE.TO
THE.TO Risk / Return Rank: 6868
Overall Rank
THE.TO Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
THE.TO Sortino Ratio Rank: 7272
Sortino Ratio Rank
THE.TO Omega Ratio Rank: 7272
Omega Ratio Rank
THE.TO Calmar Ratio Rank: 6262
Calmar Ratio Rank
THE.TO Martin Ratio Rank: 6565
Martin Ratio Rank
XFR.TO
XFR.TO Risk / Return Rank: 9898
Overall Rank
XFR.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
XFR.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
XFR.TO Omega Ratio Rank: 9797
Omega Ratio Rank
XFR.TO Calmar Ratio Rank: 9999
Calmar Ratio Rank
XFR.TO Martin Ratio Rank: 9999
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.

THE.TO vs. XFR.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TD International Equity CAD Hedged Index ETF (THE.TO) and iShares Floating Rate Index ETF (XFR.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.

THE.TOXFR.TODifference
Sharpe ratioReturn per unit of total volatility
1.98
3.97

-1.99

Sortino ratioReturn per unit of downside risk
2.85
6.65

-3.81

Omega ratioGain probability vs. loss probability

1.37

1.93

-0.56

Calmar ratioReturn relative to maximum drawdown

2.67

28.76

-26.08

Martin ratioReturn relative to average drawdown

10.38

84.45

-74.07

THE.TO vs. XFR.TO - Sharpe Ratio Comparison

The current THE.TO Sharpe Ratio is 1.98, which is lower than the XFR.TO Sharpe Ratio of 3.97. The chart below compares the historical Sharpe Ratios of THE.TO and XFR.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.

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Drawdowns

THE.TO vs. XFR.TO - Drawdown Comparison

The maximum THE.TO drawdown since its inception was -32.08%, which is greater than XFR.TO's maximum drawdown of -4.12%. Use the drawdown chart below to compare losses from any high point for THE.TO and XFR.TO.

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Drawdown Indicators

THE.TOXFR.TODifference

Max Drawdown

Largest peak-to-trough decline

-32.08%

-4.12%

-27.96%

Max Drawdown (1Y)

Largest decline over 1 year

-9.47%

-0.10%

-9.37%

Max Drawdown (3Y)

Largest decline over 3 years

-14.69%

-0.30%

-14.39%

Max Drawdown (5Y)

Largest decline over 5 years

-15.55%

-0.30%

-15.25%

Max Drawdown (10Y)

Largest decline over 10 years

-32.08%

-4.12%

-27.96%

Current Drawdown

Current decline from peak

-1.56%

-0.05%

-1.51%

Average Drawdown

Average peak-to-trough decline

-3.71%

-0.06%

-3.65%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.43%

0.03%

+2.40%

Volatility

THE.TO vs. XFR.TO - Volatility Comparison

TD International Equity CAD Hedged Index ETF (THE.TO) has a higher volatility of 4.19% compared to iShares Floating Rate Index ETF (XFR.TO) at 0.25%. This indicates that THE.TO's price experiences larger fluctuations and is considered to be riskier than XFR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

THE.TOXFR.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.19%

0.25%

+3.94%

Volatility (6M)

Calculated over the trailing 6-month period

10.64%

0.49%

+10.15%

Volatility (1Y)

Calculated over the trailing 1-year period

12.81%

0.72%

+12.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.27%

0.85%

+13.42%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.22%

1.86%

+15.36%

Dividends

THE.TO vs. XFR.TO - Dividend Comparison

THE.TO's dividend yield for the trailing twelve months is around 2.35%, less than XFR.TO's 2.77% yield.

PositionTTM20252024202320222021202020192018201720162015
THE.TO
TD International Equity CAD Hedged Index ETF		2.35%2.57%2.73%2.65%3.46%2.20%2.47%2.52%3.52%2.87%2.10%0.00%
XFR.TO
iShares Floating Rate Index ETF		2.77%3.23%4.93%4.91%1.84%0.30%1.07%1.99%1.64%0.92%0.65%0.95%

Frequently Asked Questions

THE.TO and XFR.TO have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

THE.TO is categorized as International Equity, while XFR.TO is Canadian Government Bonds. THE.TO tracks Solactive GBS Developed Markets ex North America Large & Mid Cap Hedged to CAD Index, while XFR.TO tracks Morningstar Can 1-5Y Core Bd GR CAD. They also come from different issuers: TD and iShares.

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