XCBG.TO vs. ZQB.TO
XCBG.TO (iShares ESG Advanced Canadian Corporate Bond Index ETF) and ZQB.TO (BMO High Quality Corporate Bond Index ETF) are both Corporate Bonds funds. Over the past 3 years, XCBG.TO returned 5.88%/yr vs 5.87%/yr for ZQB.TO. At a 0.41 correlation, their price movements are largely independent.
Performance
XCBG.TO vs. ZQB.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with XCBG.TO having a 1.23% return and ZQB.TO slightly higher at 1.24%.
XCBG.TO
- 1D
- -0.05%
- 1M
- -0.33%
- 6M
- 0.57%
- YTD
- 1.23%
- 1Y
- 3.87%
- 3Y*
- 5.88%
- 5Y*
- —
- 10Y*
- —
ZQB.TO
- 1D
- -0.10%
- 1M
- -0.16%
- 6M
- 0.97%
- YTD
- 1.24%
- 1Y
- 3.87%
- 3Y*
- 5.87%
- 5Y*
- 2.51%
- 10Y*
- —
XCBG.TO vs. ZQB.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% |
ZQB.TO BMO High Quality Corporate Bond Index ETF | 1.24% | 4.80% | 6.78% | 6.49% | -5.39% | -1.13% |
Correlation
The correlation between XCBG.TO and ZQB.TO is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jul 27, 2021 | 0.41 |
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Return for Risk
XCBG.TO vs. ZQB.TO — Risk / Return Rank
XCBG.TO
ZQB.TO
XCBG.TO vs. ZQB.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 BMO High Quality Corporate Bond Index ETF (ZQB.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 | ZQB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.36 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 2.17 | -0.24 |
| Martin ratioReturn relative to average drawdown | 6.06 | 7.60 | -1.54 |
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Drawdowns
XCBG.TO vs. ZQB.TO - Drawdown Comparison
The maximum XCBG.TO drawdown since its inception was -12.14%, which is greater than ZQB.TO's maximum drawdown of -10.18%. Use the drawdown chart below to compare losses from any high point for XCBG.TO and ZQB.TO.
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Drawdown Indicators
| XCBG.TO | ZQB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.14% | -10.18% | -1.96% |
Max Drawdown (1Y)Largest decline over 1 year | -2.03% | -1.79% | -0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -2.26% | -1.79% | -0.47% |
Max Drawdown (5Y)Largest decline over 5 years | — | -9.64% | — |
Current DrawdownCurrent decline from peak | -0.71% | -0.55% | -0.16% |
Average DrawdownAverage peak-to-trough decline | -3.47% | -2.33% | -1.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 0.51% | +0.13% |
Volatility
XCBG.TO vs. ZQB.TO - Volatility Comparison
iShares ESG Advanced Canadian Corporate Bond Index ETF (XCBG.TO) has a higher volatility of 0.81% compared to BMO High Quality Corporate Bond Index ETF (ZQB.TO) at 0.66%. This indicates that XCBG.TO's price experiences larger fluctuations and is considered to be riskier than ZQB.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 | ZQB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.81% | 0.66% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 2.37% | 1.80% | +0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.01% | 2.19% | +0.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.19% | 3.50% | +0.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.19% | 4.17% | +0.02% |
Dividends
XCBG.TO vs. ZQB.TO - Dividend Comparison
XCBG.TO's dividend yield for the trailing twelve months is around 3.97%, which matches ZQB.TO's 3.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
XCBG.TO iShares ESG Advanced Canadian Corporate Bond Index ETF | 3.97% | 3.84% | 3.61% | 3.19% | 2.99% | 0.87% | 0.00% |
ZQB.TO BMO High Quality Corporate Bond Index ETF | 3.94% | 3.67% | 3.39% | 3.00% | 2.80% | 2.58% | 2.46% |
Frequently Asked Questions
XCBG.TO and ZQB.TO have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: iShares and BMO.
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