XCB.TO vs. ZPR.TO
XCB.TO (iShares Core Canadian Corporate Bond Index ETF) and ZPR.TO (BMO Laddered Preferred Share Index ETF) are both exchange-traded funds - XCB.TO is a Corporate Bonds fund tracking the Morningstar Can Corp Bd GR CAD, while ZPR.TO is a Preferred Stock/Convertible Bonds fund tracking the Solactive Laddered Canadian Preferred Share Index. Both are passively managed. Over the past 10 years, XCB.TO returned 2.78%/yr vs 8.10%/yr for ZPR.TO. At a correlation of -0.03, they often move in opposite directions. XCB.TO charges 0.17%/yr vs 0.45%/yr for ZPR.TO.
Performance
XCB.TO vs. ZPR.TO - 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 lower than ZPR.TO's 6.11% return. Over the past 10 years, XCB.TO has underperformed ZPR.TO with an annualized return of 2.78%, while ZPR.TO has yielded a comparatively higher 8.10% 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%
ZPR.TO
- 1D
- 0.08%
- 1M
- 0.58%
- YTD
- 6.11%
- 6M
- 7.64%
- 1Y
- 18.52%
- 3Y*
- 19.66%
- 5Y*
- 7.75%
- 10Y*
- 8.10%
XCB.TO vs. ZPR.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% |
ZPR.TO BMO Laddered Preferred Share Index ETF | 6.11% | 18.58% | 26.58% | 7.21% | -17.66% | 23.77% | 6.00% | 2.10% | -9.86% | 14.55% |
Correlation
The correlation between XCB.TO and ZPR.TO is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Nov 21, 2012 | -0.03 |
The correlation between XCB.TO and ZPR.TO shifts across timeframes, from -0.03 (10 years) to 0.11 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XCB.TO vs. ZPR.TO — Risk / Return Rank
XCB.TO
ZPR.TO
XCB.TO vs. ZPR.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 Laddered Preferred Share Index ETF (ZPR.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 | ZPR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.25 | ||
| Sortino ratioReturn per unit of downside risk | -5.13 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.94 | -0.75 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 7.54 | -5.95 |
| Martin ratioReturn relative to average drawdown | 4.72 | 44.76 | -40.04 |
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 | ZPR.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.06 | 4.31 | -3.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.94 | -0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.71 | -0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.35 | +0.28 |
Drawdowns
XCB.TO vs. ZPR.TO - Drawdown Comparison
The maximum XCB.TO drawdown since its inception was -22.59%, smaller than the maximum ZPR.TO drawdown of -44.92%. Use the drawdown chart below to compare losses from any high point for XCB.TO and ZPR.TO.
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Drawdown Indicators
| XCB.TO | ZPR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.59% | -44.92% | +22.33% |
Max Drawdown (1Y)Largest decline over 1 year | -2.49% | -2.47% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -3.56% | -8.75% | +5.19% |
Max Drawdown (5Y)Largest decline over 5 years | -14.17% | -23.06% | +8.89% |
Max Drawdown (10Y)Largest decline over 10 years | -22.59% | -44.05% | +21.46% |
Current DrawdownCurrent decline from peak | -0.20% | -0.51% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -2.12% | -9.37% | +7.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 0.42% | +0.42% |
Volatility
XCB.TO vs. ZPR.TO - Volatility Comparison
iShares Core Canadian Corporate Bond Index ETF (XCB.TO) has a higher volatility of 1.46% compared to BMO Laddered Preferred Share Index ETF (ZPR.TO) at 1.08%. This indicates that XCB.TO's price experiences larger fluctuations and is considered to be riskier than ZPR.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 | ZPR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 1.08% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 2.71% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 4.32% | -0.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.66% | 8.33% | -2.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.23% | 11.50% | -4.27% |
XCB.TO vs. ZPR.TO - Expense Ratio Comparison
XCB.TO has a 0.17% expense ratio, which is lower than ZPR.TO's 0.45% expense ratio.
Dividends
XCB.TO vs. ZPR.TO - Dividend Comparison
XCB.TO's dividend yield for the trailing twelve months is around 4.14%, less than ZPR.TO's 5.06% 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% |
ZPR.TO BMO Laddered Preferred Share Index ETF | 5.06% | 4.86% | 4.93% | 5.92% | 5.97% | 4.66% | 5.48% | 5.24% | 4.70% | 3.94% | 4.97% | 5.32% |
Frequently Asked Questions
XCB.TO and ZPR.TO have a correlation of 0.11, 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 0.45% for ZPR.TO.
XCB.TO is categorized as Corporate Bonds, while ZPR.TO is Preferred Stock/Convertible Bonds. XCB.TO tracks Morningstar Can Corp Bd GR CAD, while ZPR.TO tracks Solactive Laddered Canadian Preferred Share Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.17% for XCB.TO and 0.45% for ZPR.TO.
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