XCNS.TO vs. HFR.TO
XCNS.TO (iShares Core Conservative Balanced ETF Portfolio) and HFR.TO (Global X Active Ultra-Short Term Investment Grade Bond ETF) are both exchange-traded funds - XCNS.TO is a Diversified Portfolio fund actively managed by iShares, while HFR.TO is a Ultrashort Bond fund actively managed by Global X. Both are actively managed. Over the past 5 years, XCNS.TO returned 5.50%/yr vs 3.92%/yr for HFR.TO. At a 0.13 correlation, their price movements are largely independent. XCNS.TO charges 0.20%/yr vs 0.46%/yr for HFR.TO.
Performance
XCNS.TO vs. HFR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XCNS.TO achieves a 5.91% return, which is significantly higher than HFR.TO's 1.57% return.
XCNS.TO
- 1D
- -0.04%
- 1M
- 0.26%
- 6M
- 4.26%
- YTD
- 5.91%
- 1Y
- 12.65%
- 3Y*
- 11.05%
- 5Y*
- 5.50%
- 10Y*
- —
HFR.TO
- 1D
- 0.00%
- 1M
- 0.19%
- 6M
- 1.37%
- YTD
- 1.57%
- 1Y
- 3.49%
- 3Y*
- 5.50%
- 5Y*
- 3.92%
- 10Y*
- 3.30%
XCNS.TO vs. HFR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XCNS.TO iShares Core Conservative Balanced ETF Portfolio | 5.91% | 10.46% | 11.73% | 10.67% | -11.25% | 5.93% | 10.28% | 3.19% |
HFR.TO Global X Active Ultra-Short Term Investment Grade Bond ETF | 1.57% | 4.04% | 6.89% | 7.86% | -0.77% | 0.68% | 3.52% | 1.20% |
Correlation
The correlation between XCNS.TO and HFR.TO is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 2019 | 0.13 |
The correlation between XCNS.TO and HFR.TO shifts across timeframes, from 0.13 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XCNS.TO vs. HFR.TO — Risk / Return Rank
XCNS.TO
HFR.TO
XCNS.TO vs. HFR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Conservative Balanced ETF Portfolio (XCNS.TO) and Global X Active Ultra-Short Term Investment Grade Bond ETF (HFR.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.
| XCNS.TO | HFR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.95 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.68 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 8.73 | -6.12 |
| Martin ratioReturn relative to average drawdown | 10.34 | 33.35 | -23.01 |
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Drawdowns
XCNS.TO vs. HFR.TO - Drawdown Comparison
The maximum XCNS.TO drawdown since its inception was -17.46%, smaller than the maximum HFR.TO drawdown of -22.56%. Use the drawdown chart below to compare losses from any high point for XCNS.TO and HFR.TO.
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Drawdown Indicators
| XCNS.TO | HFR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.46% | -22.56% | +5.10% |
Max Drawdown (1Y)Largest decline over 1 year | -4.86% | -0.40% | -4.46% |
Max Drawdown (3Y)Largest decline over 3 years | -6.40% | -0.52% | -5.88% |
Max Drawdown (5Y)Largest decline over 5 years | -16.09% | -3.51% | -12.58% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.56% | — |
Current DrawdownCurrent decline from peak | -1.01% | -0.10% | -0.91% |
Average DrawdownAverage peak-to-trough decline | -3.45% | -0.38% | -3.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 0.10% | +1.13% |
Volatility
XCNS.TO vs. HFR.TO - Volatility Comparison
iShares Core Conservative Balanced ETF Portfolio (XCNS.TO) has a higher volatility of 1.55% compared to Global X Active Ultra-Short Term Investment Grade Bond ETF (HFR.TO) at 0.28%. This indicates that XCNS.TO's price experiences larger fluctuations and is considered to be riskier than HFR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XCNS.TO | HFR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 0.28% | +1.27% |
Volatility (6M)Calculated over the trailing 6-month period | 5.93% | 0.88% | +5.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.89% | 1.24% | +5.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.93% | 1.79% | +5.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.76% | 5.78% | +1.98% |
XCNS.TO vs. HFR.TO - Expense Ratio Comparison
XCNS.TO has a 0.20% expense ratio, which is lower than HFR.TO's 0.46% expense ratio.
Dividends
XCNS.TO vs. HFR.TO - Dividend Comparison
XCNS.TO's dividend yield for the trailing twelve months is around 2.60%, less than HFR.TO's 3.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HFR.TO Global X Active Ultra-Short Term Investment Grade Bond ETF | 3.63% | 3.76% | 4.50% | 5.67% | 3.40% | 1.28% | 2.69% | 2.60% | 2.36% | 2.12% | 2.00% | 2.14% |
XCNS.TO iShares Core Conservative Balanced ETF Portfolio | 2.60% | 2.54% | 2.58% | 2.49% | 2.26% | 1.81% | 2.15% | 0.92% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XCNS.TO and HFR.TO have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XCNS.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XCNS.TO is cheaper with a 0.20% expense ratio, compared with 0.46% for HFR.TO.
XCNS.TO is categorized as Diversified Portfolio, while HFR.TO is Ultrashort Bond. They also come from different issuers: iShares and Global X. Their fees differ too: 0.20% for XCNS.TO and 0.46% for HFR.TO.
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