XBB.TO vs. XTLT.TO
XBB.TO (iShares Core Canadian Universe Bond Index ETF) and XTLT.TO (iShares 20+ Year U.S. Treasury Bond Index ETF) are both exchange-traded funds - XBB.TO is a Canadian Government Bonds fund tracking the Morningstar Can Core Bd GR CAD, while XTLT.TO is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 3 years, XBB.TO returned 4.17%/yr vs -1.68%/yr for XTLT.TO. A 0.64 correlation means they provide meaningful diversification when combined. XBB.TO charges 0.10%/yr vs 0.18%/yr for XTLT.TO.
Performance
XBB.TO vs. XTLT.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 XTLT.TO's 0.91% 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%
XTLT.TO
- 1D
- 0.00%
- 1M
- 2.85%
- YTD
- 0.91%
- 6M
- -2.99%
- 1Y
- 5.60%
- 3Y*
- -1.68%
- 5Y*
- —
- 10Y*
- —
XBB.TO vs. XTLT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XBB.TO iShares Core Canadian Universe Bond Index ETF | 1.51% | 2.59% | 4.00% | 4.77% |
XTLT.TO iShares 20+ Year U.S. Treasury Bond Index ETF | 0.91% | -1.07% | -1.47% | -2.80% |
Correlation
The correlation between XBB.TO and XTLT.TO is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2023 | 0.64 |
The correlation between XBB.TO and XTLT.TO has been stable across timeframes, ranging from 0.64 to 0.71 - a consistent structural relationship.
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Return for Risk
XBB.TO vs. XTLT.TO — Risk / Return Rank
XBB.TO
XTLT.TO
XBB.TO vs. XTLT.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 20+ Year U.S. Treasury Bond Index ETF (XTLT.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 | XTLT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.10 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | 0.58 | +0.56 |
| Martin ratioReturn relative to average drawdown | 2.65 | 1.26 | +1.39 |
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 | XTLT.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.71 | 0.55 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | -0.10 | +0.81 |
Drawdowns
XBB.TO vs. XTLT.TO - Drawdown Comparison
The maximum XBB.TO drawdown since its inception was -18.16%, smaller than the maximum XTLT.TO drawdown of -21.04%. Use the drawdown chart below to compare losses from any high point for XBB.TO and XTLT.TO.
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Drawdown Indicators
| XBB.TO | XTLT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.16% | -21.04% | +2.88% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -9.72% | +6.99% |
Max Drawdown (3Y)Largest decline over 3 years | -5.42% | -16.07% | +10.65% |
Max Drawdown (5Y)Largest decline over 5 years | -15.90% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -18.16% | — | — |
Current DrawdownCurrent decline from peak | -1.39% | -9.60% | +8.21% |
Average DrawdownAverage peak-to-trough decline | -2.76% | -8.98% | +6.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 4.45% | -3.28% |
Volatility
XBB.TO vs. XTLT.TO - Volatility Comparison
The current volatility for iShares Core Canadian Universe Bond Index ETF (XBB.TO) is 1.54%, while iShares 20+ Year U.S. Treasury Bond Index ETF (XTLT.TO) has a volatility of 3.14%. This indicates that XBB.TO experiences smaller price fluctuations and is considered to be less risky than XTLT.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 | XTLT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 3.14% | -1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 3.40% | 7.27% | -3.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.38% | 10.21% | -5.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.63% | 14.17% | -7.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.69% | 14.17% | -7.48% |
XBB.TO vs. XTLT.TO - Expense Ratio Comparison
XBB.TO has a 0.10% expense ratio, which is lower than XTLT.TO's 0.18% 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. XTLT.TO - Dividend Comparison
XBB.TO's dividend yield for the trailing twelve months is around 3.41%, less than XTLT.TO's 4.97% 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% |
XTLT.TO iShares 20+ Year U.S. Treasury Bond Index ETF | 4.97% | 4.60% | 4.17% | 2.85% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XBB.TO and XTLT.TO have a correlation of 0.69, 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 0.18% for XTLT.TO.
XBB.TO is categorized as Canadian Government Bonds, while XTLT.TO is Government Bonds. XBB.TO tracks Morningstar Can Core Bd GR CAD, while XTLT.TO tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.10% for XBB.TO and 0.18% for XTLT.TO.
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