XBB.TO vs. CMR.TO
XBB.TO (iShares Core Canadian Universe Bond Index ETF) and CMR.TO (iShares Premium Money Market ETF) are both exchange-traded funds - XBB.TO is a Canadian Government Bonds fund tracking the Morningstar Can Core Bd GR CAD, while CMR.TO is a Money Market fund actively managed by iShares. XBB.TO is passively managed, while CMR.TO is actively managed. Over the past 10 years, XBB.TO returned 1.63%/yr vs 1.89%/yr for CMR.TO. At a 0.01 correlation, their price movements are largely independent. XBB.TO charges 0.10%/yr vs 0.14%/yr for CMR.TO.
Performance
XBB.TO vs. CMR.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 CMR.TO's 0.97% return. Over the past 10 years, XBB.TO has underperformed CMR.TO with an annualized return of 1.63%, while CMR.TO has yielded a comparatively higher 1.89% 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%
CMR.TO
- 1D
- 0.00%
- 1M
- 0.19%
- YTD
- 0.97%
- 6M
- 1.05%
- 1Y
- 2.37%
- 3Y*
- 3.73%
- 5Y*
- 2.94%
- 10Y*
- 1.89%
XBB.TO vs. CMR.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% |
CMR.TO iShares Premium Money Market ETF | 0.97% | 2.68% | 4.70% | 4.70% | 1.71% | 0.00% | 0.47% | 1.63% | 1.29% | 0.63% |
Correlation
The correlation between XBB.TO and CMR.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 | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2008 | 0.01 |
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Return for Risk
XBB.TO vs. CMR.TO — Risk / Return Rank
XBB.TO
CMR.TO
XBB.TO vs. CMR.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 Premium Money Market ETF (CMR.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 | CMR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.90 | ||
| Sortino ratioReturn per unit of downside risk | -20.14 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 9.57 | -8.44 |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | 25.44 | -24.30 |
| Martin ratioReturn relative to average drawdown | 2.65 | 187.33 | -184.67 |
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 | CMR.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.71 | 10.61 | -9.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 10.67 | -10.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | 7.02 | -6.77 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 3.84 | -3.13 |
Drawdowns
XBB.TO vs. CMR.TO - Drawdown Comparison
The maximum XBB.TO drawdown since its inception was -18.16%, which is greater than CMR.TO's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for XBB.TO and CMR.TO.
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Drawdown Indicators
| XBB.TO | CMR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.16% | -0.52% | -17.64% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -0.09% | -2.64% |
Max Drawdown (3Y)Largest decline over 3 years | -5.42% | -0.09% | -5.33% |
Max Drawdown (5Y)Largest decline over 5 years | -15.90% | -0.09% | -15.81% |
Max Drawdown (10Y)Largest decline over 10 years | -18.16% | -0.14% | -18.02% |
Current DrawdownCurrent decline from peak | -1.39% | -0.02% | -1.37% |
Average DrawdownAverage peak-to-trough decline | -2.76% | -0.01% | -2.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 0.01% | +1.16% |
Volatility
XBB.TO vs. CMR.TO - Volatility Comparison
iShares Core Canadian Universe Bond Index ETF (XBB.TO) has a higher volatility of 1.54% compared to iShares Premium Money Market ETF (CMR.TO) at 0.05%. This indicates that XBB.TO's price experiences larger fluctuations and is considered to be riskier than CMR.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 | CMR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 0.05% | +1.49% |
Volatility (6M)Calculated over the trailing 6-month period | 3.40% | 0.18% | +3.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.38% | 0.22% | +4.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.63% | 0.28% | +6.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.69% | 0.27% | +6.42% |
XBB.TO vs. CMR.TO - Expense Ratio Comparison
XBB.TO has a 0.10% expense ratio, which is lower than CMR.TO's 0.14% 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. CMR.TO - Dividend Comparison
XBB.TO's dividend yield for the trailing twelve months is around 3.41%, more than CMR.TO's 2.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMR.TO iShares Premium Money Market ETF | 2.48% | 2.81% | 4.56% | 4.64% | 1.62% | 0.00% | 0.47% | 1.60% | 1.33% | 0.61% | 0.43% | 0.48% |
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 CMR.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.
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 0.14% for CMR.TO.
XBB.TO is categorized as Canadian Government Bonds, while CMR.TO is Money Market. Their fees differ too: 0.10% for XBB.TO and 0.14% for CMR.TO.
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