XEB.TO vs. XTLH.TO
XEB.TO (iShares J.P. Morgan USD Emerging Markets Bond Index ETF (CAD-Hedged)) and XTLH.TO (iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged)) are both exchange-traded funds - XEB.TO is a Emerging Markets Bonds fund tracking the J.P. Morgan EMBI Global Core Hedged in CAD Index, while XTLH.TO is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (CAD-Hedged). Both are passively managed. Over the past 3 years, XEB.TO returned 7.28%/yr vs -3.28%/yr for XTLH.TO. A 0.62 correlation means they provide meaningful diversification when combined. XEB.TO charges 0.53%/yr vs 0.18%/yr for XTLH.TO.
Performance
XEB.TO vs. XTLH.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XEB.TO achieves a 0.81% return, which is significantly higher than XTLH.TO's -0.87% return.
XEB.TO
- 1D
- 0.18%
- 1M
- 0.79%
- YTD
- 0.81%
- 6M
- 0.94%
- 1Y
- 8.75%
- 3Y*
- 7.28%
- 5Y*
- -0.04%
- 10Y*
- 1.44%
XTLH.TO
- 1D
- 0.16%
- 1M
- 0.29%
- YTD
- -0.87%
- 6M
- -2.15%
- 1Y
- 1.65%
- 3Y*
- -3.28%
- 5Y*
- —
- 10Y*
- —
XEB.TO vs. XTLH.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XEB.TO iShares J.P. Morgan USD Emerging Markets Bond Index ETF (CAD-Hedged) | 0.81% | 11.14% | 3.46% | 8.80% |
XTLH.TO iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) | -0.87% | 2.61% | -9.55% | 1.56% |
Correlation
The correlation between XEB.TO and XTLH.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 | 0.64 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2023 | 0.62 |
The correlation between XEB.TO and XTLH.TO shifts across timeframes, from 0.54 (1 year) to 0.64 (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
XEB.TO vs. XTLH.TO — Risk / Return Rank
XEB.TO
XTLH.TO
XEB.TO vs. XTLH.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan USD Emerging Markets Bond Index ETF (CAD-Hedged) (XEB.TO) and iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) (XTLH.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.
| XEB.TO | XTLH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.25 | ||
| Sortino ratioReturn per unit of downside risk | +1.78 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.04 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 0.20 | +1.58 |
| Martin ratioReturn relative to average drawdown | 6.91 | 0.49 | +6.42 |
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
| XEB.TO | XTLH.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.42 | 0.17 | +1.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.00 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.14 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | -0.15 | +0.45 |
Drawdowns
XEB.TO vs. XTLH.TO - Drawdown Comparison
The maximum XEB.TO drawdown since its inception was -29.53%, which is greater than XTLH.TO's maximum drawdown of -22.72%. Use the drawdown chart below to compare losses from any high point for XEB.TO and XTLH.TO.
Loading charts...
Drawdown Indicators
| XEB.TO | XTLH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.53% | -22.72% | -6.81% |
Max Drawdown (1Y)Largest decline over 1 year | -4.94% | -8.37% | +3.43% |
Max Drawdown (3Y)Largest decline over 3 years | -8.26% | -19.47% | +11.21% |
Max Drawdown (5Y)Largest decline over 5 years | -29.47% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -29.53% | — | — |
Current DrawdownCurrent decline from peak | -2.23% | -14.67% | +12.44% |
Average DrawdownAverage peak-to-trough decline | -6.46% | -12.15% | +5.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.27% | 3.37% | -2.10% |
Volatility
XEB.TO vs. XTLH.TO - Volatility Comparison
The current volatility for iShares J.P. Morgan USD Emerging Markets Bond Index ETF (CAD-Hedged) (XEB.TO) is 2.47%, while iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) (XTLH.TO) has a volatility of 2.94%. This indicates that XEB.TO experiences smaller price fluctuations and is considered to be less risky than XTLH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XEB.TO | XTLH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.47% | 2.94% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 4.89% | 6.42% | -1.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.17% | 9.72% | -3.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.52% | 14.15% | -4.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.21% | 14.15% | -3.94% |
XEB.TO vs. XTLH.TO - Expense Ratio Comparison
XEB.TO has a 0.53% expense ratio, which is higher than XTLH.TO's 0.18% expense ratio.
Dividends
XEB.TO vs. XTLH.TO - Dividend Comparison
XEB.TO's dividend yield for the trailing twelve months is around 4.97%, more than XTLH.TO's 4.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XEB.TO iShares J.P. Morgan USD Emerging Markets Bond Index ETF (CAD-Hedged) | 4.97% | 4.98% | 4.68% | 4.00% | 4.26% | 3.23% | 3.45% | 3.65% | 4.95% | 3.81% | 4.31% | 4.60% |
XTLH.TO iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) | 4.61% | 4.42% | 4.32% | 2.67% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XEB.TO and XTLH.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, XTLH.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XTLH.TO is cheaper with a 0.18% expense ratio, compared with 0.53% for XEB.TO.
XEB.TO is categorized as Emerging Markets Bonds, while XTLH.TO is Government Bonds. XEB.TO tracks J.P. Morgan EMBI Global Core Hedged in CAD Index, while XTLH.TO tracks ICE U.S. Treasury 20+ Year Bond Index (CAD-Hedged). Their fees differ too: 0.53% for XEB.TO and 0.18% for XTLH.TO.
Find the right allocation for XEB.TO and XTLH.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