XCB.TO vs. CBH.TO
XCB.TO (iShares Core Canadian Corporate Bond Index ETF) and CBH.TO (iShares 1-10 Year Laddered Corporate Bond Index ETF) are both Corporate Bonds funds from iShares tracking the Morningstar Can Corp Bd GR CAD. Both are passively managed. Over the past 10 years, XCB.TO returned 2.77%/yr vs 2.41%/yr for CBH.TO. A 0.58 correlation means they provide meaningful diversification when combined. XCB.TO charges 0.17%/yr vs 0.28%/yr for CBH.TO.
Performance
XCB.TO vs. CBH.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XCB.TO achieves a 1.75% return, which is significantly higher than CBH.TO's 1.29% return. Over the past 10 years, XCB.TO has outperformed CBH.TO with an annualized return of 2.77%, while CBH.TO has yielded a comparatively lower 2.41% annualized return.
XCB.TO
- 1D
- -0.10%
- 1M
- 1.66%
- YTD
- 1.75%
- 6M
- 1.49%
- 1Y
- 4.27%
- 3Y*
- 6.23%
- 5Y*
- 2.30%
- 10Y*
- 2.77%
CBH.TO
- 1D
- -0.06%
- 1M
- 1.18%
- YTD
- 1.29%
- 6M
- 1.13%
- 1Y
- 3.64%
- 3Y*
- 5.45%
- 5Y*
- 2.17%
- 10Y*
- 2.41%
XCB.TO vs. CBH.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XCB.TO iShares Core Canadian Corporate Bond Index ETF | 1.75% | 4.45% | 6.72% | 8.30% | -9.79% | -1.81% | 8.36% | 7.90% | 0.39% | 2.75% |
CBH.TO iShares 1-10 Year Laddered Corporate Bond Index ETF | 1.29% | 4.60% | 6.19% | 6.48% | -6.85% | -2.08% | 7.99% | 5.62% | 0.92% | 0.65% |
Correlation
The correlation between XCB.TO and CBH.TO is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2011 | 0.58 |
The correlation between XCB.TO and CBH.TO shifts across timeframes, from 0.58 (all time) to 0.78 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XCB.TO vs. CBH.TO — Risk / Return Rank
XCB.TO
CBH.TO
XCB.TO vs. CBH.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Canadian Corporate Bond Index ETF (XCB.TO) and iShares 1-10 Year Laddered Corporate Bond Index ETF (CBH.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.
| XCB.TO | CBH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.22 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 1.71 | +0.01 |
| Martin ratioReturn relative to average drawdown | 5.08 | 5.14 | -0.06 |
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
| XCB.TO | CBH.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.15 | 1.19 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.54 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.37 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.51 | +0.12 |
Drawdowns
XCB.TO vs. CBH.TO - Drawdown Comparison
The maximum XCB.TO drawdown since its inception was -22.59%, which is greater than CBH.TO's maximum drawdown of -16.36%. Use the drawdown chart below to compare losses from any high point for XCB.TO and CBH.TO.
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Drawdown Indicators
| XCB.TO | CBH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.59% | -16.36% | -6.23% |
Max Drawdown (1Y)Largest decline over 1 year | -2.49% | -2.14% | -0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -3.56% | -2.14% | -1.42% |
Max Drawdown (5Y)Largest decline over 5 years | -14.17% | -10.50% | -3.67% |
Max Drawdown (10Y)Largest decline over 10 years | -22.59% | -16.36% | -6.23% |
Current DrawdownCurrent decline from peak | -0.10% | -0.31% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -2.12% | -1.83% | -0.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 0.71% | +0.13% |
Volatility
XCB.TO vs. CBH.TO - Volatility Comparison
iShares Core Canadian Corporate Bond Index ETF (XCB.TO) has a higher volatility of 1.45% compared to iShares 1-10 Year Laddered Corporate Bond Index ETF (CBH.TO) at 1.07%. This indicates that XCB.TO's price experiences larger fluctuations and is considered to be riskier than CBH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XCB.TO | CBH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 1.07% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 2.28% | +0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 3.07% | +0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.67% | 4.02% | +1.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.23% | 6.47% | +0.76% |
XCB.TO vs. CBH.TO - Expense Ratio Comparison
XCB.TO has a 0.17% expense ratio, which is lower than CBH.TO's 0.28% expense ratio.
Dividends
XCB.TO vs. CBH.TO - Dividend Comparison
XCB.TO's dividend yield for the trailing twelve months is around 4.13%, more than CBH.TO's 3.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBH.TO iShares 1-10 Year Laddered Corporate Bond Index ETF | 3.36% | 3.32% | 3.21% | 3.28% | 3.17% | 2.91% | 2.92% | 3.33% | 3.65% | 3.82% | 3.86% | 3.90% |
XCB.TO iShares Core Canadian Corporate Bond Index ETF | 4.13% | 4.10% | 4.00% | 3.69% | 3.55% | 3.01% | 2.75% | 2.95% | 3.10% | 3.07% | 3.19% | 3.31% |
Frequently Asked Questions
XCB.TO and CBH.TO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XCB.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XCB.TO is cheaper with a 0.17% expense ratio, compared with 0.28% for CBH.TO.
Both ETFs track Morningstar Can Corp Bd GR CAD. Their fees differ too: 0.17% for XCB.TO and 0.28% for CBH.TO.
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