XBB.TO vs. XQB.TO
XBB.TO (iShares Core Canadian Universe Bond Index ETF) and XQB.TO (iShares High Quality Canadian Bond Index ETF) are both Canadian Government Bonds funds from iShares tracking the Morningstar Can Core Bd GR CAD. Both are passively managed. Over the past 10 years, XBB.TO returned 1.63%/yr vs 1.64%/yr for XQB.TO. A 0.78 correlation means they provide meaningful diversification when combined. XBB.TO charges 0.10%/yr vs 0.13%/yr for XQB.TO.
Performance
XBB.TO vs. XQB.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with XBB.TO having a 1.51% return and XQB.TO slightly lower at 1.49%. Both investments have delivered pretty close results over the past 10 years, with XBB.TO having a 1.63% annualized return and XQB.TO not far ahead at 1.64%.
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%
XQB.TO
- 1D
- -0.11%
- 1M
- 1.68%
- YTD
- 1.49%
- 6M
- 0.82%
- 1Y
- 3.20%
- 3Y*
- 4.37%
- 5Y*
- 0.97%
- 10Y*
- 1.64%
XBB.TO vs. XQB.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% |
XQB.TO iShares High Quality Canadian Bond Index ETF | 1.49% | 3.16% | 4.17% | 6.51% | -10.61% | -2.84% | 8.32% | 6.05% | 1.38% | 1.61% |
Correlation
The correlation between XBB.TO and XQB.TO is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2009 | 0.78 |
The correlation between XBB.TO and XQB.TO shifts across timeframes, from 0.78 (all time) to 0.92 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XBB.TO vs. XQB.TO — Risk / Return Rank
XBB.TO
XQB.TO
XBB.TO vs. XQB.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 High Quality Canadian Bond Index ETF (XQB.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 | XQB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.14 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | 1.19 | -0.05 |
| Martin ratioReturn relative to average drawdown | 2.65 | 2.93 | -0.28 |
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 | XQB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.71 | 0.79 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.17 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | 0.29 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.53 | +0.18 |
Drawdowns
XBB.TO vs. XQB.TO - Drawdown Comparison
The maximum XBB.TO drawdown since its inception was -18.16%, which is greater than XQB.TO's maximum drawdown of -16.57%. Use the drawdown chart below to compare losses from any high point for XBB.TO and XQB.TO.
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Drawdown Indicators
| XBB.TO | XQB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.16% | -16.57% | -1.59% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -2.70% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -5.42% | -4.25% | -1.17% |
Max Drawdown (5Y)Largest decline over 5 years | -15.90% | -14.59% | -1.31% |
Max Drawdown (10Y)Largest decline over 10 years | -18.16% | -16.57% | -1.59% |
Current DrawdownCurrent decline from peak | -1.39% | -0.50% | -0.89% |
Average DrawdownAverage peak-to-trough decline | -2.76% | -3.07% | +0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 1.09% | +0.08% |
Volatility
XBB.TO vs. XQB.TO - Volatility Comparison
iShares Core Canadian Universe Bond Index ETF (XBB.TO) and iShares High Quality Canadian Bond Index ETF (XQB.TO) have volatilities of 1.54% and 1.54%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XBB.TO | XQB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 1.54% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 3.40% | 3.31% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.38% | 4.10% | +0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.63% | 5.89% | +0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.69% | 5.78% | +0.91% |
XBB.TO vs. XQB.TO - Expense Ratio Comparison
XBB.TO has a 0.10% expense ratio, which is lower than XQB.TO's 0.13% 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. XQB.TO - Dividend Comparison
XBB.TO's dividend yield for the trailing twelve months is around 3.41%, which matches XQB.TO's 3.41% 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% |
XQB.TO iShares High Quality Canadian Bond Index ETF | 3.41% | 3.39% | 3.24% | 2.93% | 2.75% | 2.37% | 2.37% | 2.53% | 2.59% | 2.54% | 2.67% | 2.80% |
Frequently Asked Questions
XBB.TO and XQB.TO have a correlation of 0.89, 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 0.13% for XQB.TO.
Both ETFs track Morningstar Can Core Bd GR CAD. Their fees differ too: 0.10% for XBB.TO and 0.13% for XQB.TO.
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