XCB.TO vs. FCSB.NEO
XCB.TO (iShares Core Canadian Corporate Bond Index ETF) and FCSB.NEO (Fidelity Canadian Short Term Corporate Bond ETF) are both Corporate Bonds funds - XCB.TO tracks the Morningstar Can Corp Bd GR CAD while FCSB.NEO tracks the FTSE Canada Short Term Corporate Bond 5% Capped Index. Both are passively managed. Over the past 5 years, XCB.TO returned 2.28%/yr vs 2.93%/yr for FCSB.NEO. At a 0.38 correlation, their price movements are largely independent. XCB.TO charges 0.17%/yr vs 0.44%/yr for FCSB.NEO.
Performance
XCB.TO vs. FCSB.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, XCB.TO achieves a 1.65% return, which is significantly higher than FCSB.NEO's 1.45% return.
XCB.TO
- 1D
- -0.10%
- 1M
- 1.56%
- YTD
- 1.65%
- 6M
- 1.64%
- 1Y
- 3.96%
- 3Y*
- 6.16%
- 5Y*
- 2.28%
- 10Y*
- 2.78%
FCSB.NEO
- 1D
- 0.00%
- 1M
- 0.76%
- YTD
- 1.45%
- 6M
- 1.43%
- 1Y
- 3.84%
- 3Y*
- 5.99%
- 5Y*
- 2.93%
- 10Y*
- —
XCB.TO vs. FCSB.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XCB.TO iShares Core Canadian Corporate Bond Index ETF | 1.65% | 4.45% | 6.72% | 8.30% | -9.79% | -1.81% | 8.36% | 0.10% |
FCSB.NEO Fidelity Canadian Short Term Corporate Bond ETF | 1.45% | 4.15% | 7.55% | 6.81% | -4.22% | -0.81% | 6.26% | 0.82% |
Correlation
The correlation between XCB.TO and FCSB.NEO is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2019 | 0.38 |
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Return for Risk
XCB.TO vs. FCSB.NEO — Risk / Return Rank
XCB.TO
FCSB.NEO
XCB.TO vs. FCSB.NEO - 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 Fidelity Canadian Short Term Corporate Bond ETF (FCSB.NEO). 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 | FCSB.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.27 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 2.44 | -0.85 |
| Martin ratioReturn relative to average drawdown | 4.72 | 8.99 | -4.27 |
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 | FCSB.NEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.06 | 1.43 | -0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.89 | -0.49 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.65 | -0.02 |
Drawdowns
XCB.TO vs. FCSB.NEO - Drawdown Comparison
The maximum XCB.TO drawdown since its inception was -22.59%, which is greater than FCSB.NEO's maximum drawdown of -12.48%. Use the drawdown chart below to compare losses from any high point for XCB.TO and FCSB.NEO.
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Drawdown Indicators
| XCB.TO | FCSB.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.59% | -12.48% | -10.11% |
Max Drawdown (1Y)Largest decline over 1 year | -2.49% | -1.58% | -0.91% |
Max Drawdown (3Y)Largest decline over 3 years | -3.56% | -1.58% | -1.98% |
Max Drawdown (5Y)Largest decline over 5 years | -14.17% | -7.44% | -6.73% |
Max Drawdown (10Y)Largest decline over 10 years | -22.59% | — | — |
Current DrawdownCurrent decline from peak | -0.20% | 0.00% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -2.12% | -1.51% | -0.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 0.43% | +0.41% |
Volatility
XCB.TO vs. FCSB.NEO - Volatility Comparison
iShares Core Canadian Corporate Bond Index ETF (XCB.TO) has a higher volatility of 1.46% compared to Fidelity Canadian Short Term Corporate Bond ETF (FCSB.NEO) at 0.95%. This indicates that XCB.TO's price experiences larger fluctuations and is considered to be riskier than FCSB.NEO 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 | FCSB.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 0.95% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 2.07% | +0.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 2.70% | +1.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.66% | 3.30% | +2.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.23% | 4.96% | +2.27% |
XCB.TO vs. FCSB.NEO - Expense Ratio Comparison
XCB.TO has a 0.17% expense ratio, which is lower than FCSB.NEO's 0.44% expense ratio.
Dividends
XCB.TO vs. FCSB.NEO - Dividend Comparison
XCB.TO's dividend yield for the trailing twelve months is around 4.14%, more than FCSB.NEO's 3.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCSB.NEO Fidelity Canadian Short Term Corporate Bond ETF | 3.78% | 3.73% | 3.59% | 3.06% | 2.09% | 1.58% | 2.34% | 0.38% | 0.00% | 0.00% | 0.00% | 0.00% |
XCB.TO iShares Core Canadian Corporate Bond Index ETF | 4.14% | 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 FCSB.NEO have a correlation of 0.47, 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 0.44% for FCSB.NEO.
XCB.TO tracks Morningstar Can Corp Bd GR CAD, while FCSB.NEO tracks FTSE Canada Short Term Corporate Bond 5% Capped Index. They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.17% for XCB.TO and 0.44% for FCSB.NEO.
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