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XAGH.TO vs. FXNAX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

XAGH.TO vs. FXNAX

Last updated Apr 2, 2026

Compare and contrast key facts about iShares U.S. Aggregate Bond Index ETF (CAD-Hedged) (XAGH.TO) and Fidelity U.S. Bond Index Fund (FXNAX).

XAGH.TO is a passively managed fund by iShares that tracks the performance of the Bloomberg US Aggregate Bond Index (CAD-Hedged). It was launched on Aug 6, 2021. FXNAX is managed by Fidelity.

Performance

XAGH.TO vs. FXNAX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares U.S. Aggregate Bond Index ETF (CAD-Hedged) (XAGH.TO) and Fidelity U.S. Bond Index Fund (FXNAX). The values are adjusted to include any dividend payments, if applicable.

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XAGH.TO vs. FXNAX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
XAGH.TO
iShares U.S. Aggregate Bond Index ETF (CAD-Hedged)		-0.42%5.24%0.01%4.10%-13.15%-0.86%
FXNAX
Fidelity U.S. Bond Index Fund		1.14%2.23%10.06%3.49%-7.39%-0.67%
Different Trading Currencies

XAGH.TO is traded in CAD, while FXNAX is traded in USD. To make them comparable, the FXNAX values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XAGH.TO achieves a -0.42% return, which is significantly lower than FXNAX's 1.14% return.

XAGH.TO

1D
-0.12%
1M
-1.49%
YTD
-0.42%
6M
-0.20%
1Y
2.16%
3Y*
2.15%
5Y*
—
10Y*
—

FXNAX

1D
0.14%
1M
0.14%
YTD
1.14%
6M
0.33%
1Y
0.88%
3Y*
4.53%
5Y*
2.19%
10Y*
2.23%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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iShares U.S. Aggregate Bond Index ETF (CAD-Hedged)

Fidelity U.S. Bond Index Fund

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Often compared with FXNAX:
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XAGH.TO vs. FXNAX - Expense Ratio Comparison

XAGH.TO has a 0.18% expense ratio, which is higher than FXNAX's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

XAGH.TO
iShares U.S. Aggregate Bond Index ETF (CAD-Hedged)
FXNAX
Fidelity U.S. Bond Index Fund

Return for Risk

XAGH.TO vs. FXNAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XAGH.TO
XAGH.TO Risk / Return Rank: 2424
Overall Rank
XAGH.TO Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
XAGH.TO Sortino Ratio Rank: 2121
Sortino Ratio Rank
XAGH.TO Omega Ratio Rank: 2121
Omega Ratio Rank
XAGH.TO Calmar Ratio Rank: 2929
Calmar Ratio Rank
XAGH.TO Martin Ratio Rank: 2424
Martin Ratio Rank
FXNAX
FXNAX Risk / Return Rank: 4646
Overall Rank
FXNAX Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
FXNAX Sortino Ratio Rank: 4242
Sortino Ratio Rank
FXNAX Omega Ratio Rank: 3030
Omega Ratio Rank
FXNAX Calmar Ratio Rank: 7070
Calmar Ratio Rank
FXNAX Martin Ratio Rank: 4545
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.

XAGH.TO vs. FXNAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Aggregate Bond Index ETF (CAD-Hedged) (XAGH.TO) and Fidelity U.S. Bond Index Fund (FXNAX). 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.

XAGH.TOFXNAXDifference

Sharpe ratio

Return per unit of total volatility

0.45

0.09

+0.36

Sortino ratio

Return per unit of downside risk

0.63

0.17

+0.46

Omega ratio

Gain probability vs. loss probability

1.08

1.02

+0.06

Calmar ratio

Return relative to maximum drawdown

0.79

0.26

+0.52

Martin ratio

Return relative to average drawdown

1.89

0.53

+1.36

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XAGH.TO vs. FXNAX - Sharpe Ratio Comparison

The current XAGH.TO Sharpe Ratio is 0.45, which is higher than the FXNAX Sharpe Ratio of 0.09. The chart below compares the historical Sharpe Ratios of XAGH.TO and FXNAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

XAGH.TOFXNAXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.45

0.09

+0.36

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.28

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.28

—

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.21

0.55

-0.75

Correlation

The correlation between XAGH.TO and FXNAX is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

XAGH.TO vs. FXNAX - Dividend Comparison

XAGH.TO's dividend yield for the trailing twelve months is around 3.92%, more than FXNAX's 3.34% yield.

TTM20252024202320222021202020192018201720162015
XAGH.TO
iShares U.S. Aggregate Bond Index ETF (CAD-Hedged)		3.92%3.78%3.51%3.05%1.91%0.55%0.00%0.00%0.00%0.00%0.00%0.00%
FXNAX
Fidelity U.S. Bond Index Fund		3.34%3.58%3.40%3.15%1.81%1.74%2.92%2.68%2.74%2.57%2.76%2.52%

Drawdowns

XAGH.TO vs. FXNAX - Drawdown Comparison

The maximum XAGH.TO drawdown since its inception was -18.26%, smaller than the maximum FXNAX drawdown of -20.86%. Use the drawdown chart below to compare losses from any high point for XAGH.TO and FXNAX.

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Drawdown Indicators

XAGH.TOFXNAXDifference

Max Drawdown

Largest peak-to-trough decline

-18.26%

-19.51%

+1.25%

Max Drawdown (1Y)

Largest decline over 1 year

-2.71%

-2.71%

0.00%

Max Drawdown (5Y)

Largest decline over 5 years

—

-18.54%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-19.51%

—

Current Drawdown

Current decline from peak

-6.52%

-3.53%

-2.99%

Average Drawdown

Average peak-to-trough decline

-9.59%

-3.87%

-5.72%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.13%

0.96%

+0.17%

Volatility

XAGH.TO vs. FXNAX - Volatility Comparison

The current volatility for iShares U.S. Aggregate Bond Index ETF (CAD-Hedged) (XAGH.TO) is 1.66%, while Fidelity U.S. Bond Index Fund (FXNAX) has a volatility of 2.03%. This indicates that XAGH.TO experiences smaller price fluctuations and is considered to be less risky than FXNAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XAGH.TOFXNAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.66%

2.03%

-0.37%

Volatility (6M)

Calculated over the trailing 6-month period

2.84%

4.31%

-1.47%

Volatility (1Y)

Calculated over the trailing 1-year period

4.86%

6.52%

-1.66%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.48%

7.94%

-1.46%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.48%

7.93%

-1.45%