XBB.TO vs. XQQ.TO
XBB.TO (iShares Core Canadian Universe Bond Index ETF) and XQQ.TO (iShares NASDAQ 100 Index ETF (CAD-Hedged)) are both exchange-traded funds - XBB.TO is a Canadian Government Bonds fund tracking the Morningstar Can Core Bd GR CAD, while XQQ.TO is a Nasdaq-100 fund tracking the Morningstar US Market TR CAD. Both are passively managed. Over the past 10 years, XBB.TO returned 1.63%/yr vs 19.70%/yr for XQQ.TO. At a correlation of -0.07, they often move in opposite directions. XBB.TO charges 0.10%/yr vs 0.39%/yr for XQQ.TO.
Performance
XBB.TO vs. XQQ.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 XQQ.TO's 19.81% return. Over the past 10 years, XBB.TO has underperformed XQQ.TO with an annualized return of 1.63%, while XQQ.TO has yielded a comparatively higher 19.70% 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%
XQQ.TO
- 1D
- -0.27%
- 1M
- 10.58%
- YTD
- 19.81%
- 6M
- 18.06%
- 1Y
- 38.49%
- 3Y*
- 26.43%
- 5Y*
- 15.31%
- 10Y*
- 19.70%
XBB.TO vs. XQQ.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% |
XQQ.TO iShares NASDAQ 100 Index ETF (CAD-Hedged) | 19.81% | 18.38% | 24.23% | 52.23% | -33.67% | 22.29% | 45.23% | 37.48% | -2.33% | 31.83% |
Correlation
The correlation between XBB.TO and XQQ.TO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since May 11, 2011 | -0.07 |
The correlation between XBB.TO and XQQ.TO shifts across timeframes, from -0.07 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XBB.TO vs. XQQ.TO — Risk / Return Rank
XBB.TO
XQQ.TO
XBB.TO vs. XQQ.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 NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.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 | XQQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.74 | ||
| Sortino ratioReturn per unit of downside risk | -2.22 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.42 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | 3.03 | -1.89 |
| Martin ratioReturn relative to average drawdown | 2.65 | 11.31 | -8.66 |
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 | XQQ.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.71 | 2.45 | -1.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.68 | -0.58 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | 0.89 | -0.64 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.86 | -0.15 |
Drawdowns
XBB.TO vs. XQQ.TO - Drawdown Comparison
The maximum XBB.TO drawdown since its inception was -18.16%, smaller than the maximum XQQ.TO drawdown of -38.55%. Use the drawdown chart below to compare losses from any high point for XBB.TO and XQQ.TO.
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Drawdown Indicators
| XBB.TO | XQQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.16% | -38.55% | +20.39% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -12.76% | +10.03% |
Max Drawdown (3Y)Largest decline over 3 years | -5.42% | -22.72% | +17.30% |
Max Drawdown (5Y)Largest decline over 5 years | -15.90% | -38.55% | +22.65% |
Max Drawdown (10Y)Largest decline over 10 years | -18.16% | -38.55% | +20.39% |
Current DrawdownCurrent decline from peak | -1.39% | -0.27% | -1.12% |
Average DrawdownAverage peak-to-trough decline | -2.76% | -5.92% | +3.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 3.41% | -2.24% |
Volatility
XBB.TO vs. XQQ.TO - Volatility Comparison
The current volatility for iShares Core Canadian Universe Bond Index ETF (XBB.TO) is 1.54%, while iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) has a volatility of 4.48%. This indicates that XBB.TO experiences smaller price fluctuations and is considered to be less risky than XQQ.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 | XQQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 4.48% | -2.94% |
Volatility (6M)Calculated over the trailing 6-month period | 3.40% | 12.00% | -8.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.38% | 15.82% | -11.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.63% | 22.52% | -15.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.69% | 22.34% | -15.65% |
XBB.TO vs. XQQ.TO - Expense Ratio Comparison
XBB.TO has a 0.10% expense ratio, which is lower than XQQ.TO's 0.39% expense ratio.
Dividends
XBB.TO vs. XQQ.TO - Dividend Comparison
XBB.TO's dividend yield for the trailing twelve months is around 3.41%, more than XQQ.TO's 0.21% 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% |
XQQ.TO iShares NASDAQ 100 Index ETF (CAD-Hedged) | 0.21% | 0.25% | 0.32% | 0.31% | 0.43% | 0.17% | 0.26% | 0.46% | 0.52% | 0.53% | 0.76% | 0.62% |
Frequently Asked Questions
XBB.TO and XQQ.TO have a correlation of 0.28, 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 0.39% for XQQ.TO.
XBB.TO is categorized as Canadian Government Bonds, while XQQ.TO is Nasdaq-100. XBB.TO tracks Morningstar Can Core Bd GR CAD, while XQQ.TO tracks Morningstar US Market TR CAD. Their fees differ too: 0.10% for XBB.TO and 0.39% for XQQ.TO.
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