XCBG.TO vs. PSB.TO
XCBG.TO (iShares ESG Advanced Canadian Corporate Bond Index ETF) and PSB.TO (Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF) are both Corporate Bonds funds - XCBG.TO tracks the Morningstar Can Corp Bd GR CAD while PSB.TO tracks the FTSE Canada Investment Grade 1-5 Year Laddered Corporate Bond Index. Both are passively managed. Over the past 3 years, XCBG.TO returned 5.88%/yr vs 5.98%/yr for PSB.TO. A 0.55 correlation means they provide meaningful diversification when combined. XCBG.TO charges 0.17%/yr vs 0.28%/yr for PSB.TO.
Performance
XCBG.TO vs. PSB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XCBG.TO achieves a 1.23% return, which is significantly lower than PSB.TO's 1.49% return.
XCBG.TO
- 1D
- -0.05%
- 1M
- -0.33%
- 6M
- 0.57%
- YTD
- 1.23%
- 1Y
- 3.87%
- 3Y*
- 5.88%
- 5Y*
- —
- 10Y*
- —
PSB.TO
- 1D
- -0.11%
- 1M
- -0.07%
- 6M
- 1.15%
- YTD
- 1.49%
- 1Y
- 3.94%
- 3Y*
- 5.98%
- 5Y*
- 2.93%
- 10Y*
- 2.69%
XCBG.TO vs. PSB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XCBG.TO iShares ESG Advanced Canadian Corporate Bond Index ETF | 1.23% | 4.21% | 6.79% | 7.45% | -7.40% | -1.10% |
PSB.TO Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF | 1.49% | 4.68% | 7.08% | 6.44% | -3.89% | -0.88% |
Correlation
The correlation between XCBG.TO and PSB.TO is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jul 27, 2021 | 0.55 |
The correlation between XCBG.TO and PSB.TO has been stable across timeframes, ranging from 0.54 to 0.62 - a consistent structural relationship.
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Return for Risk
XCBG.TO vs. PSB.TO — Risk / Return Rank
XCBG.TO
PSB.TO
XCBG.TO vs. PSB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares ESG Advanced Canadian Corporate Bond Index ETF (XCBG.TO) and Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| XCBG.TO | PSB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.26 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 2.86 | -0.94 |
| Martin ratioReturn relative to average drawdown | 6.06 | 8.73 | -2.68 |
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Drawdowns
XCBG.TO vs. PSB.TO - Drawdown Comparison
The maximum XCBG.TO drawdown since its inception was -12.14%, smaller than the maximum PSB.TO drawdown of -13.24%. Use the drawdown chart below to compare losses from any high point for XCBG.TO and PSB.TO.
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Drawdown Indicators
| XCBG.TO | PSB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.14% | -13.24% | +1.10% |
Max Drawdown (1Y)Largest decline over 1 year | -2.03% | -1.38% | -0.65% |
Max Drawdown (3Y)Largest decline over 3 years | -2.26% | -1.89% | -0.37% |
Max Drawdown (5Y)Largest decline over 5 years | — | -7.93% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.24% | — |
Current DrawdownCurrent decline from peak | -0.71% | -0.28% | -0.43% |
Average DrawdownAverage peak-to-trough decline | -3.47% | -1.00% | -2.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 0.45% | +0.19% |
Volatility
XCBG.TO vs. PSB.TO - Volatility Comparison
iShares ESG Advanced Canadian Corporate Bond Index ETF (XCBG.TO) has a higher volatility of 0.81% compared to Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB.TO) at 0.68%. This indicates that XCBG.TO's price experiences larger fluctuations and is considered to be riskier than PSB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XCBG.TO | PSB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.81% | 0.68% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 2.37% | 1.95% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.01% | 2.75% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.19% | 3.32% | +0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.19% | 4.85% | -0.66% |
XCBG.TO vs. PSB.TO - Expense Ratio Comparison
XCBG.TO has a 0.17% expense ratio, which is lower than PSB.TO's 0.28% expense ratio.
Dividends
XCBG.TO vs. PSB.TO - Dividend Comparison
XCBG.TO's dividend yield for the trailing twelve months is around 3.97%, more than PSB.TO's 3.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSB.TO Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF | 3.21% | 3.18% | 3.12% | 3.09% | 3.13% | 2.91% | 2.74% | 3.00% | 3.37% | 3.61% | 4.01% | 4.04% |
XCBG.TO iShares ESG Advanced Canadian Corporate Bond Index ETF | 3.97% | 3.84% | 3.61% | 3.19% | 2.99% | 0.87% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XCBG.TO and PSB.TO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XCBG.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XCBG.TO is cheaper with a 0.17% expense ratio, compared with 0.28% for PSB.TO.
XCBG.TO tracks Morningstar Can Corp Bd GR CAD, while PSB.TO tracks FTSE Canada Investment Grade 1-5 Year Laddered Corporate Bond Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.17% for XCBG.TO and 0.28% for PSB.TO.
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