XCB.TO vs. ZIC.TO
XCB.TO (iShares Core Canadian Corporate Bond Index ETF) and ZIC.TO (BMO Mid-Term US Investment Grade Corporate Bond Index ETF) are both Corporate Bonds funds - XCB.TO tracks the Morningstar Can Corp Bd GR CAD while ZIC.TO tracks the Bloomberg US Investment Grade 5 to 10 Year Corporate Bond Capped Index. Both are passively managed. Over the past 10 years, XCB.TO returned 2.78%/yr vs 3.62%/yr for ZIC.TO. At a 0.39 correlation, their price movements are largely independent. XCB.TO charges 0.17%/yr vs 0.25%/yr for ZIC.TO.
Performance
XCB.TO vs. ZIC.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XCB.TO achieves a 1.65% return, which is significantly higher than ZIC.TO's 1.28% return. Over the past 10 years, XCB.TO has underperformed ZIC.TO with an annualized return of 2.78%, while ZIC.TO has yielded a comparatively higher 3.62% annualized 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%
ZIC.TO
- 1D
- 0.22%
- 1M
- 2.21%
- YTD
- 1.28%
- 6M
- -0.27%
- 1Y
- 6.91%
- 3Y*
- 6.91%
- 5Y*
- 3.94%
- 10Y*
- 3.62%
XCB.TO vs. ZIC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XCB.TO iShares Core Canadian Corporate Bond Index ETF | 1.65% | 4.45% | 6.72% | 8.30% | -9.79% | -1.81% | 8.36% | 7.90% | 0.39% | 2.75% |
ZIC.TO BMO Mid-Term US Investment Grade Corporate Bond Index ETF | 1.28% | 4.24% | 11.86% | 6.33% | -8.93% | -1.36% | 6.51% | 9.03% | 6.40% | -1.26% |
Correlation
The correlation between XCB.TO and ZIC.TO is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2013 | 0.39 |
The correlation between XCB.TO and ZIC.TO shifts across timeframes, from 0.39 (all time) to 0.52 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XCB.TO vs. ZIC.TO — Risk / Return Rank
XCB.TO
ZIC.TO
XCB.TO vs. ZIC.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 Mid-Term US Investment Grade Corporate Bond Index ETF (ZIC.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 | ZIC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.23 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 1.63 | -0.04 |
| Martin ratioReturn relative to average drawdown | 4.72 | 3.51 | +1.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| XCB.TO | ZIC.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.06 | 1.27 | -0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.50 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.41 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.60 | +0.04 |
Drawdowns
XCB.TO vs. ZIC.TO - Drawdown Comparison
The maximum XCB.TO drawdown since its inception was -22.59%, which is greater than ZIC.TO's maximum drawdown of -19.49%. Use the drawdown chart below to compare losses from any high point for XCB.TO and ZIC.TO.
Loading charts...
Drawdown Indicators
| XCB.TO | ZIC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.59% | -19.49% | -3.10% |
Max Drawdown (1Y)Largest decline over 1 year | -2.49% | -4.26% | +1.77% |
Max Drawdown (3Y)Largest decline over 3 years | -3.56% | -6.96% | +3.40% |
Max Drawdown (5Y)Largest decline over 5 years | -14.17% | -15.66% | +1.49% |
Max Drawdown (10Y)Largest decline over 10 years | -22.59% | -19.49% | -3.10% |
Current DrawdownCurrent decline from peak | -0.20% | -1.48% | +1.28% |
Average DrawdownAverage peak-to-trough decline | -2.12% | -5.15% | +3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 1.97% | -1.13% |
Volatility
XCB.TO vs. ZIC.TO - Volatility Comparison
The current volatility for iShares Core Canadian Corporate Bond Index ETF (XCB.TO) is 1.46%, while BMO Mid-Term US Investment Grade Corporate Bond Index ETF (ZIC.TO) has a volatility of 1.67%. This indicates that XCB.TO experiences smaller price fluctuations and is considered to be less risky than ZIC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XCB.TO | ZIC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 1.67% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 4.18% | -1.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 5.47% | -1.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.66% | 7.95% | -2.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.23% | 8.90% | -1.67% |
XCB.TO vs. ZIC.TO - Expense Ratio Comparison
XCB.TO has a 0.17% expense ratio, which is lower than ZIC.TO's 0.25% 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
XCB.TO vs. ZIC.TO - Dividend Comparison
XCB.TO's dividend yield for the trailing twelve months is around 4.14%, less than ZIC.TO's 4.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ZIC.TO BMO Mid-Term US Investment Grade Corporate Bond Index ETF | 4.31% | 4.03% | 3.79% | 3.84% | 3.93% | 3.52% | 3.46% | 3.56% | 3.46% | 3.32% | 3.29% | 3.11% |
Frequently Asked Questions
XCB.TO and ZIC.TO have a correlation of 0.45, 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 0.25% for ZIC.TO.
XCB.TO tracks Morningstar Can Corp Bd GR CAD, while ZIC.TO tracks Bloomberg US Investment Grade 5 to 10 Year Corporate Bond Capped Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.17% for XCB.TO and 0.25% for ZIC.TO.
Find the right allocation for XCB.TO and ZIC.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer