XBB.TO vs. CLF.TO
XBB.TO (iShares Core Canadian Universe Bond Index ETF) and CLF.TO (iShares 1-5 Year Laddered Government Bond Index ETF) are both Canadian Government Bonds funds from iShares - XBB.TO tracks the Morningstar Can Core Bd GR CAD while CLF.TO tracks the Morningstar Can 1-5Y Core Bd GR CAD. Both are passively managed. Over the past 10 years, XBB.TO returned 1.63%/yr vs 1.81%/yr for CLF.TO. A 0.68 correlation means they provide meaningful diversification when combined. XBB.TO charges 0.10%/yr vs 0.17%/yr for CLF.TO.
Performance
XBB.TO vs. CLF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XBB.TO achieves a 1.51% return, which is significantly higher than CLF.TO's 0.83% return. Over the past 10 years, XBB.TO has underperformed CLF.TO with an annualized return of 1.63%, while CLF.TO has yielded a comparatively higher 1.81% annualized return.
XBB.TO
- 1D
- -0.18%
- 1M
- 1.59%
- YTD
- 1.51%
- 6M
- 0.69%
- 1Y
- 3.09%
- 3Y*
- 4.17%
- 5Y*
- 0.71%
- 10Y*
- 1.63%
CLF.TO
- 1D
- -0.11%
- 1M
- 0.76%
- YTD
- 0.83%
- 6M
- 0.50%
- 1Y
- 2.45%
- 3Y*
- 4.12%
- 5Y*
- 1.72%
- 10Y*
- 1.81%
XBB.TO vs. CLF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XBB.TO iShares Core Canadian Universe Bond Index ETF | 1.51% | 2.59% | 4.00% | 6.64% | -11.66% | -2.81% | 8.58% | 7.28% | 1.00% | 2.42% |
CLF.TO iShares 1-5 Year Laddered Government Bond Index ETF | 0.83% | 3.36% | 4.82% | 4.58% | -3.98% | -1.27% | 5.53% | 3.97% | 1.68% | -0.49% |
Correlation
The correlation between XBB.TO and CLF.TO is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2008 | 0.68 |
The correlation between XBB.TO and CLF.TO shifts across timeframes, from 0.68 (all time) to 0.86 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
XBB.TO vs. CLF.TO — Risk / Return Rank
XBB.TO
CLF.TO
XBB.TO vs. CLF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Canadian Universe Bond Index ETF (XBB.TO) and iShares 1-5 Year Laddered Government Bond Index ETF (CLF.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.
| XBB.TO | CLF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.23 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | 1.78 | -0.64 |
| Martin ratioReturn relative to average drawdown | 2.65 | 5.12 | -2.47 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XBB.TO | CLF.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.71 | 1.20 | -0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.58 | -0.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | 0.54 | -0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.72 | -0.01 |
Drawdowns
XBB.TO vs. CLF.TO - Drawdown Comparison
The maximum XBB.TO drawdown since its inception was -18.16%, which is greater than CLF.TO's maximum drawdown of -6.91%. Use the drawdown chart below to compare losses from any high point for XBB.TO and CLF.TO.
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Drawdown Indicators
| XBB.TO | CLF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.16% | -6.91% | -11.25% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -1.38% | -1.35% |
Max Drawdown (3Y)Largest decline over 3 years | -5.42% | -1.42% | -4.00% |
Max Drawdown (5Y)Largest decline over 5 years | -15.90% | -6.80% | -9.10% |
Max Drawdown (10Y)Largest decline over 10 years | -18.16% | -6.91% | -11.25% |
Current DrawdownCurrent decline from peak | -1.39% | -0.34% | -1.05% |
Average DrawdownAverage peak-to-trough decline | -2.76% | -1.08% | -1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 0.48% | +0.69% |
Volatility
XBB.TO vs. CLF.TO - Volatility Comparison
iShares Core Canadian Universe Bond Index ETF (XBB.TO) has a higher volatility of 1.54% compared to iShares 1-5 Year Laddered Government Bond Index ETF (CLF.TO) at 0.72%. This indicates that XBB.TO's price experiences larger fluctuations and is considered to be riskier than CLF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XBB.TO | CLF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 0.72% | +0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 3.40% | 1.62% | +1.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.38% | 2.04% | +2.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.63% | 2.98% | +3.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.69% | 3.37% | +3.32% |
XBB.TO vs. CLF.TO - Expense Ratio Comparison
XBB.TO has a 0.10% expense ratio, which is lower than CLF.TO's 0.17% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XBB.TO vs. CLF.TO - Dividend Comparison
XBB.TO's dividend yield for the trailing twelve months is around 3.41%, more than CLF.TO's 2.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLF.TO iShares 1-5 Year Laddered Government Bond Index ETF | 2.25% | 2.22% | 2.22% | 2.23% | 2.10% | 1.98% | 2.81% | 3.93% | 2.67% | 2.91% | 3.12% | 3.29% |
XBB.TO iShares Core Canadian Universe Bond Index ETF | 3.41% | 3.39% | 3.25% | 3.01% | 2.91% | 2.54% | 2.55% | 2.80% | 2.92% | 2.83% | 2.81% | 2.87% |
Frequently Asked Questions
XBB.TO and CLF.TO have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XBB.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XBB.TO is cheaper with a 0.10% expense ratio, compared with 0.17% for CLF.TO.
XBB.TO tracks Morningstar Can Core Bd GR CAD, while CLF.TO tracks Morningstar Can 1-5Y Core Bd GR CAD. Their fees differ too: 0.10% for XBB.TO and 0.17% for CLF.TO.
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