XBB.TO vs. XEI.TO
XBB.TO (iShares Core Canadian Universe Bond Index ETF) and XEI.TO (iShares S&P/TSX Composite High Dividend Index ETF) are both exchange-traded funds - XBB.TO is a Canadian Government Bonds fund tracking the Morningstar Can Core Bd GR CAD, while XEI.TO is a Canada Equities fund tracking the S&P/TSX Composite High Dividend Index. Both are passively managed. Over the past 10 years, XBB.TO returned 1.63%/yr vs 12.32%/yr for XEI.TO. At a correlation of -0.10, they often move in opposite directions. XBB.TO charges 0.10%/yr vs 0.22%/yr for XEI.TO.
Performance
XBB.TO vs. XEI.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 lower than XEI.TO's 22.21% return. Over the past 10 years, XBB.TO has underperformed XEI.TO with an annualized return of 1.63%, while XEI.TO has yielded a comparatively higher 12.32% 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%
XEI.TO
- 1D
- 0.00%
- 1M
- 3.33%
- YTD
- 22.21%
- 6M
- 23.56%
- 1Y
- 43.59%
- 3Y*
- 22.26%
- 5Y*
- 15.55%
- 10Y*
- 12.32%
XBB.TO vs. XEI.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% |
XEI.TO iShares S&P/TSX Composite High Dividend Index ETF | 22.21% | 25.96% | 15.42% | 6.69% | 0.41% | 35.88% | -7.53% | 25.44% | -10.85% | 7.24% |
Correlation
The correlation between XBB.TO and XEI.TO is 0.03, 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 | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Apr 19, 2011 | -0.10 |
The correlation between XBB.TO and XEI.TO shifts across timeframes, from -0.10 (all time) to 0.19 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
XBB.TO vs. XEI.TO — Risk / Return Rank
XBB.TO
XEI.TO
XBB.TO vs. XEI.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 S&P/TSX Composite High Dividend Index ETF (XEI.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 | XEI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.37 | ||
| Sortino ratioReturn per unit of downside risk | -8.08 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 2.27 | -1.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | 19.53 | -18.39 |
| Martin ratioReturn relative to average drawdown | 2.65 | 66.28 | -63.63 |
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 | XEI.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.71 | 6.08 | -5.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 1.39 | -1.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | 0.77 | -0.53 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.67 | +0.05 |
Drawdowns
XBB.TO vs. XEI.TO - Drawdown Comparison
The maximum XBB.TO drawdown since its inception was -18.16%, smaller than the maximum XEI.TO drawdown of -45.51%. Use the drawdown chart below to compare losses from any high point for XBB.TO and XEI.TO.
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Drawdown Indicators
| XBB.TO | XEI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.16% | -45.51% | +27.35% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -2.24% | -0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -5.42% | -9.92% | +4.50% |
Max Drawdown (5Y)Largest decline over 5 years | -15.90% | -17.32% | +1.42% |
Max Drawdown (10Y)Largest decline over 10 years | -18.16% | -45.51% | +27.35% |
Current DrawdownCurrent decline from peak | -1.39% | -0.76% | -0.63% |
Average DrawdownAverage peak-to-trough decline | -2.76% | -5.05% | +2.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 0.66% | +0.51% |
Volatility
XBB.TO vs. XEI.TO - Volatility Comparison
The current volatility for iShares Core Canadian Universe Bond Index ETF (XBB.TO) is 1.54%, while iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) has a volatility of 2.87%. This indicates that XBB.TO experiences smaller price fluctuations and is considered to be less risky than XEI.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 | XEI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 2.87% | -1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 3.40% | 6.01% | -2.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.38% | 7.21% | -2.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.63% | 11.24% | -4.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.69% | 16.01% | -9.32% |
XBB.TO vs. XEI.TO - Expense Ratio Comparison
XBB.TO has a 0.10% expense ratio, which is lower than XEI.TO's 0.22% 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. XEI.TO - Dividend Comparison
XBB.TO's dividend yield for the trailing twelve months is around 3.41%, less than XEI.TO's 3.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XEI.TO iShares S&P/TSX Composite High Dividend Index ETF | 3.56% | 4.39% | 5.56% | 5.08% | 4.78% | 3.65% | 5.13% | 4.71% | 5.53% | 4.37% | 4.51% | 5.75% |
Frequently Asked Questions
XBB.TO and XEI.TO have a correlation of 0.03, 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 0.22% for XEI.TO.
XBB.TO is categorized as Canadian Government Bonds, while XEI.TO is Canada Equities. XBB.TO tracks Morningstar Can Core Bd GR CAD, while XEI.TO tracks S&P/TSX Composite High Dividend Index. Their fees differ too: 0.10% for XBB.TO and 0.22% for XEI.TO.
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