XCB.TO vs. ZBBB.TO
XCB.TO (iShares Core Canadian Corporate Bond Index ETF) and ZBBB.TO (BMO BBB Corporate Bond Index ETF) are both Corporate Bonds funds - XCB.TO tracks the Morningstar Can Corp Bd GR CAD while ZBBB.TO tracks the FTSE Canada 1-10 Year BBB Corporate Bond Index. Both are passively managed. Over the past 5 years, XCB.TO returned 2.30%/yr vs 2.85%/yr for ZBBB.TO. At a 0.36 correlation, their price movements are largely independent. Both charge a 0.17% expense ratio.
Performance
XCB.TO vs. ZBBB.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 ZBBB.TO's 1.60% 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%
ZBBB.TO
- 1D
- 0.00%
- 1M
- 1.32%
- YTD
- 1.60%
- 6M
- 1.43%
- 1Y
- 4.54%
- 3Y*
- 6.46%
- 5Y*
- 2.85%
- 10Y*
- —
XCB.TO vs. ZBBB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XCB.TO iShares Core Canadian Corporate Bond Index ETF | 1.75% | 4.45% | 6.72% | 8.30% | -9.79% | -1.81% | 5.90% |
ZBBB.TO BMO BBB Corporate Bond Index ETF | 1.60% | 4.73% | 8.00% | 5.61% | -5.28% | -1.12% | 6.72% |
Correlation
The correlation between XCB.TO and ZBBB.TO is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2020 | 0.36 |
Over the past year, XCB.TO and ZBBB.TO have become more correlated (0.64) than their long-term average of 0.36, meaning their price movements have been converging.
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Return for Risk
XCB.TO vs. ZBBB.TO — Risk / Return Rank
XCB.TO
ZBBB.TO
XCB.TO vs. ZBBB.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 BMO BBB Corporate Bond Index ETF (ZBBB.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 | ZBBB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.33 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 2.39 | -0.67 |
| Martin ratioReturn relative to average drawdown | 5.08 | 6.43 | -1.35 |
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 | ZBBB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.15 | 1.46 | -0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.65 | -0.24 |
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 | 0.54 | +0.10 |
Drawdowns
XCB.TO vs. ZBBB.TO - Drawdown Comparison
The maximum XCB.TO drawdown since its inception was -22.59%, which is greater than ZBBB.TO's maximum drawdown of -11.55%. Use the drawdown chart below to compare losses from any high point for XCB.TO and ZBBB.TO.
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Drawdown Indicators
| XCB.TO | ZBBB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.59% | -11.55% | -11.04% |
Max Drawdown (1Y)Largest decline over 1 year | -2.49% | -1.91% | -0.58% |
Max Drawdown (3Y)Largest decline over 3 years | -3.56% | -1.91% | -1.65% |
Max Drawdown (5Y)Largest decline over 5 years | -14.17% | -11.23% | -2.94% |
Max Drawdown (10Y)Largest decline over 10 years | -22.59% | — | — |
Current DrawdownCurrent decline from peak | -0.10% | -0.02% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -2.12% | -2.93% | +0.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 0.71% | +0.13% |
Volatility
XCB.TO vs. ZBBB.TO - Volatility Comparison
iShares Core Canadian Corporate Bond Index ETF (XCB.TO) has a higher volatility of 1.45% compared to BMO BBB Corporate Bond Index ETF (ZBBB.TO) at 1.01%. This indicates that XCB.TO's price experiences larger fluctuations and is considered to be riskier than ZBBB.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 | ZBBB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 1.01% | +0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 2.06% | +0.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 3.13% | +0.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.67% | 4.39% | +1.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.23% | 5.81% | +1.42% |
XCB.TO vs. ZBBB.TO - Expense Ratio Comparison
Both XCB.TO and ZBBB.TO have an expense ratio of 0.17%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
XCB.TO vs. ZBBB.TO - Dividend Comparison
XCB.TO's dividend yield for the trailing twelve months is around 4.13%, less than ZBBB.TO's 4.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ZBBB.TO BMO BBB Corporate Bond Index ETF | 4.19% | 4.12% | 3.72% | 3.47% | 3.54% | 3.23% | 3.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XCB.TO and ZBBB.TO have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.17% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XCB.TO and ZBBB.TO have the same expense ratio: 0.17% per year.
XCB.TO tracks Morningstar Can Corp Bd GR CAD, while ZBBB.TO tracks FTSE Canada 1-10 Year BBB Corporate Bond Index. They also come from different issuers: iShares and BMO.
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