XBB.TO vs. XUS.TO
XBB.TO (iShares Core Canadian Universe Bond Index ETF) and XUS.TO (iShares Core S&P 500 Index ETF) are both exchange-traded funds - XBB.TO is a Canadian Government Bonds fund tracking the Morningstar Can Core Bd GR CAD, while XUS.TO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, XBB.TO returned 1.63%/yr vs 15.98%/yr for XUS.TO. At a 0.01 correlation, their price movements are largely independent. XBB.TO charges 0.10%/yr vs 0.09%/yr for XUS.TO.
Performance
XBB.TO vs. XUS.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 XUS.TO's 12.21% return. Over the past 10 years, XBB.TO has underperformed XUS.TO with an annualized return of 1.63%, while XUS.TO has yielded a comparatively higher 15.98% 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%
XUS.TO
- 1D
- -0.31%
- 1M
- 7.22%
- YTD
- 12.21%
- 6M
- 10.39%
- 1Y
- 29.30%
- 3Y*
- 23.52%
- 5Y*
- 16.78%
- 10Y*
- 15.98%
XBB.TO vs. XUS.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% |
XUS.TO iShares Core S&P 500 Index ETF | 12.21% | 12.19% | 35.16% | 23.31% | -12.59% | 27.20% | 15.56% | 24.57% | 3.31% | 13.56% |
Correlation
The correlation between XBB.TO and XUS.TO is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2013 | 0.01 |
Over the past year, XBB.TO and XUS.TO have become more correlated (0.29) than their long-term average of 0.01, meaning their price movements have been converging.
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Return for Risk
XBB.TO vs. XUS.TO — Risk / Return Rank
XBB.TO
XUS.TO
XBB.TO vs. XUS.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 Core S&P 500 Index ETF (XUS.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 | XUS.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.84 | ||
| Sortino ratioReturn per unit of downside risk | -2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.47 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | 3.41 | -2.27 |
| Martin ratioReturn relative to average drawdown | 2.65 | 12.94 | -10.29 |
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 | XUS.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.71 | 2.55 | -1.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 1.13 | -1.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | 0.98 | -0.73 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 1.08 | -0.37 |
Drawdowns
XBB.TO vs. XUS.TO - Drawdown Comparison
The maximum XBB.TO drawdown since its inception was -18.16%, smaller than the maximum XUS.TO drawdown of -27.23%. Use the drawdown chart below to compare losses from any high point for XBB.TO and XUS.TO.
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Drawdown Indicators
| XBB.TO | XUS.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.16% | -27.23% | +9.07% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -8.63% | +5.90% |
Max Drawdown (3Y)Largest decline over 3 years | -5.42% | -18.96% | +13.54% |
Max Drawdown (5Y)Largest decline over 5 years | -15.90% | -21.85% | +5.95% |
Max Drawdown (10Y)Largest decline over 10 years | -18.16% | -27.23% | +9.07% |
Current DrawdownCurrent decline from peak | -1.39% | -0.31% | -1.08% |
Average DrawdownAverage peak-to-trough decline | -2.76% | -3.46% | +0.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 2.27% | -1.10% |
Volatility
XBB.TO vs. XUS.TO - Volatility Comparison
The current volatility for iShares Core Canadian Universe Bond Index ETF (XBB.TO) is 1.54%, while iShares Core S&P 500 Index ETF (XUS.TO) has a volatility of 3.19%. This indicates that XBB.TO experiences smaller price fluctuations and is considered to be less risky than XUS.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 | XUS.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 3.19% | -1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 3.40% | 8.66% | -5.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.38% | 11.58% | -7.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.63% | 14.92% | -8.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.69% | 16.48% | -9.79% |
XBB.TO vs. XUS.TO - Expense Ratio Comparison
XBB.TO has a 0.10% expense ratio, which is higher than XUS.TO's 0.09% 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%.
Dividends
XBB.TO vs. XUS.TO - Dividend Comparison
XBB.TO's dividend yield for the trailing twelve months is around 3.41%, more than XUS.TO's 1.12% 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% |
XUS.TO iShares Core S&P 500 Index ETF | 1.12% | 1.26% | 1.03% | 1.22% | 1.38% | 0.99% | 1.35% | 2.02% | 1.77% | 1.48% | 1.66% | 1.70% |
Frequently Asked Questions
XBB.TO and XUS.TO have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUS.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUS.TO is cheaper with a 0.09% expense ratio, compared with 0.10% for XBB.TO.
XBB.TO is categorized as Canadian Government Bonds, while XUS.TO is S&P 500. XBB.TO tracks Morningstar Can Core Bd GR CAD, while XUS.TO tracks S&P 500 Index. Their fees differ too: 0.10% for XBB.TO and 0.09% for XUS.TO.
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