XBB.TO vs. VSBIX

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Core Canadian Universe Bond Index ETF (XBB.TO) and Vanguard Short-Term Treasury Index Fund Institutional Shares (VSBIX).

XBB.TO is a passively managed fund by iShares that tracks the performance of the Morningstar Can Core Bd GR CAD. It was launched on Nov 20, 2000. VSBIX is managed by Vanguard. It was launched on Aug 23, 2010.

Performance

XBB.TO vs. VSBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core Canadian Universe Bond Index ETF (XBB.TO) and Vanguard Short-Term Treasury Index Fund Institutional Shares (VSBIX). The values are adjusted to include any dividend payments, if applicable.

XBB.TO vs. VSBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XBB.TO iShares Core Canadian Universe Bond Index ETF	-0.19%	2.59%	4.00%	6.64%	-11.66%	-2.81%	8.58%	7.28%	1.00%	2.42%
VSBIX Vanguard Short-Term Treasury Index Fund Institutional Shares	1.69%	0.29%	13.34%	1.99%	2.98%	-1.57%	1.37%	-1.56%	10.12%	-6.00%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, XBB.TO achieves a -0.19% return, which is significantly lower than VSBIX's 1.69% return. Over the past 10 years, XBB.TO has underperformed VSBIX with an annualized return of 1.62%, while VSBIX has yielded a comparatively higher 2.45% annualized return.

XBB.TO

• 1D: -0.25%
• 1M: -1.83%
• YTD: -0.19%
• 6M: -0.37%
• 1Y: 0.04%
• 3Y*: 3.26%
• 5Y*: 0.51%
• 10Y*: 1.62%

VSBIX

• 1D: -0.01%
• 1M: 1.44%
• YTD: 1.69%
• 6M: 1.10%
• 1Y: 0.88%
• 3Y*: 5.14%
• 5Y*: 3.99%
• 10Y*: 2.45%

*Multi-year figures are annualized to reflect compound growth (CAGR)

XBB.TO vs. VSBIX - Expense Ratio Comparison

XBB.TO has a 0.10% expense ratio, which is higher than VSBIX's 0.05% 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%.

XBB.TO

iShares Core Canadian Universe Bond Index ETF

VSBIX

Vanguard Short-Term Treasury Index Fund Institutional Shares

Return for Risk

XBB.TO vs. VSBIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XBB.TO

XBB.TO Risk / Return Rank: 12
XBB.TO Sharpe Ratio Rank: 12
XBB.TO Sortino Ratio Rank: 10
XBB.TO Omega Ratio Rank: 10
XBB.TO Calmar Ratio Rank: 15
XBB.TO Martin Ratio Rank: 14

VSBIX

VSBIX Risk / Return Rank: 97
VSBIX Sharpe Ratio Rank: 97
VSBIX Sortino Ratio Rank: 98
VSBIX Omega Ratio Rank: 96
VSBIX Calmar Ratio Rank: 98
VSBIX Martin Ratio Rank: 97

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.

XBB.TO vs. VSBIX - 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 Vanguard Short-Term Treasury Index Fund Institutional Shares (VSBIX). 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	VSBIX	Difference
Sharpe ratio Return per unit of total volatility	0.01	0.06	-0.06
Sortino ratio Return per unit of downside risk	0.04	0.12	-0.08
Omega ratio Gain probability vs. loss probability	1.01	1.02	-0.01
Calmar ratio Return relative to maximum drawdown	0.15	0.18	-0.03
Martin ratio Return relative to average drawdown	0.30	0.35	-0.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XBB.TO vs. VSBIX - Sharpe Ratio Comparison

The current XBB.TO Sharpe Ratio is 0.01, which is lower than the VSBIX Sharpe Ratio of 0.06. The chart below compares the historical Sharpe Ratios of XBB.TO and VSBIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XBB.TO	VSBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.01	0.06	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	0.63	-0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.24	0.36	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.41	+0.30

Correlation

The correlation between XBB.TO and VSBIX is 0.26, 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

XBB.TO vs. VSBIX - Dividend Comparison

XBB.TO's dividend yield for the trailing twelve months is around 3.43%, less than VSBIX's 3.59% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XBB.TO iShares Core Canadian Universe Bond Index ETF	3.43%	3.39%	3.25%	3.01%	2.91%	2.54%	2.55%	2.80%	2.92%	2.83%	2.81%	2.87%
VSBIX Vanguard Short-Term Treasury Index Fund Institutional Shares	3.59%	3.99%	4.52%	3.31%	1.14%	0.65%	1.74%	2.28%	1.81%	1.11%	0.80%	0.74%

Drawdowns

XBB.TO vs. VSBIX - Drawdown Comparison

The maximum XBB.TO drawdown since its inception was -18.16%, which is greater than VSBIX's maximum drawdown of -16.42%. Use the drawdown chart below to compare losses from any high point for XBB.TO and VSBIX.

Drawdown Indicators

	XBB.TO	VSBIX	Difference
Max Drawdown Largest peak-to-trough decline	-18.16%	-5.74%	-12.42%
Max Drawdown (1Y) Largest decline over 1 year	-2.80%	-0.81%	-1.99%
Max Drawdown (5Y) Largest decline over 5 years	-15.90%	-5.74%	-10.16%
Max Drawdown (10Y) Largest decline over 10 years	-18.16%	-5.74%	-12.42%
Current Drawdown Current decline from peak	-3.03%	-0.44%	-2.59%
Average Drawdown Average peak-to-trough decline	-2.77%	-0.59%	-2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.41%	0.21%	+1.20%

Volatility

XBB.TO vs. VSBIX - Volatility Comparison

iShares Core Canadian Universe Bond Index ETF (XBB.TO) has a higher volatility of 2.00% compared to Vanguard Short-Term Treasury Index Fund Institutional Shares (VSBIX) at 1.41%. This indicates that XBB.TO's price experiences larger fluctuations and is considered to be riskier than VSBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XBB.TO	VSBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.00%	1.41%	+0.59%
Volatility (6M) Calculated over the trailing 6-month period	3.10%	3.49%	-0.39%
Volatility (1Y) Calculated over the trailing 1-year period	4.72%	5.32%	-0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.60%	6.36%	+0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.68%	6.87%	-0.19%