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XFLB.TO vs. CORE.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XFLB.TO vs. CORE.TO

Last updated Jun 4, 2026

XFLB.TO (iShares Core Canadian 15+ Year Federal Bond Index ETF) and CORE.TO (PIMCO Canadian Core Bond Fund) are both Canadian Government Bonds funds. XFLB.TO is passively managed, while CORE.TO is actively managed. Over the past year, XFLB.TO returned -0.95% vs 4.48% for CORE.TO. A 0.59 correlation means they provide meaningful diversification when combined. XFLB.TO charges 0.17%/yr vs 0.32%/yr for CORE.TO.

Performance

XFLB.TO vs. CORE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core Canadian 15+ Year Federal Bond Index ETF (XFLB.TO) and PIMCO Canadian Core Bond Fund (CORE.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XFLB.TO achieves a 2.42% return, which is significantly higher than CORE.TO's 2.24% return.

XFLB.TO

1D
0.11%
1M
3.14%
YTD
2.42%
6M
-0.48%
1Y
-0.95%
3Y*
-1.06%
5Y*
—
10Y*
—

CORE.TO

1D
0.00%
1M
1.93%
YTD
2.24%
6M
1.42%
1Y
4.48%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XFLB.TO vs. CORE.TO - Yearly Performance Comparison

2026 (YTD)20252024
XFLB.TO
iShares Core Canadian 15+ Year Federal Bond Index ETF		2.42%-6.17%-2.26%
CORE.TO
PIMCO Canadian Core Bond Fund		2.24%4.02%0.77%

Correlation

The correlation between XFLB.TO and CORE.TO is 0.61, 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

0.61

Correlation (All Time)
Calculated using the full available price history since Aug 20, 2024

0.59

The correlation between XFLB.TO and CORE.TO has been stable across timeframes, ranging from 0.59 to 0.61 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Core Canadian 15+ Year Federal Bond Index ETF

PIMCO Canadian Core Bond Fund

Often compared with XFLB.TO:
XFLB.TO vs. XLB.TOXFLB.TO vs. XSH.TOXFLB.TO vs. VFV.TOXFLB.TO vs. XEQT.TOXFLB.TO vs. ZFL.TOXFLB.TO vs. TCSH.TOXFLB.TO vs. CLF.TO
Often compared with CORE.TO:
CORE.TO vs. PMIF.TOCORE.TO vs. PMIF-U.TOCORE.TO vs. XBB.TOCORE.TO vs. XSH.TOCORE.TO vs. TCLB.TOCORE.TO vs. ZAG.TOCORE.TO vs. TDB.TO

Return for Risk

XFLB.TO vs. CORE.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XFLB.TO
XFLB.TO Risk / Return Rank: 77
Overall Rank
XFLB.TO Sharpe Ratio Rank: 88
Sharpe Ratio Rank
XFLB.TO Sortino Ratio Rank: 77
Sortino Ratio Rank
XFLB.TO Omega Ratio Rank: 77
Omega Ratio Rank
XFLB.TO Calmar Ratio Rank: 88
Calmar Ratio Rank
XFLB.TO Martin Ratio Rank: 88
Martin Ratio Rank
CORE.TO
CORE.TO Risk / Return Rank: 2929
Overall Rank
CORE.TO Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
CORE.TO Sortino Ratio Rank: 2828
Sortino Ratio Rank
CORE.TO Omega Ratio Rank: 2929
Omega Ratio Rank
CORE.TO Calmar Ratio Rank: 3131
Calmar Ratio Rank
CORE.TO Martin Ratio Rank: 2727
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XFLB.TO vs. CORE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Canadian 15+ Year Federal Bond Index ETF (XFLB.TO) and PIMCO Canadian Core Bond Fund (CORE.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.

XFLB.TOCORE.TODifference
Sharpe ratioReturn per unit of total volatility
-0.09
1.09

-1.18

Sortino ratioReturn per unit of downside risk
-0.06
1.50

-1.56

Omega ratioGain probability vs. loss probability

0.99

1.19

-0.20

Calmar ratioReturn relative to maximum drawdown

-0.14

1.50

-1.64

Martin ratioReturn relative to average drawdown

-0.23

3.71

-3.95

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XFLB.TO vs. CORE.TO - Sharpe Ratio Comparison

The current XFLB.TO Sharpe Ratio is -0.09, which is lower than the CORE.TO Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of XFLB.TO and CORE.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

XFLB.TOCORE.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.09

1.09

-1.18

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.03

0.79

-0.82

Drawdowns

XFLB.TO vs. CORE.TO - Drawdown Comparison

The maximum XFLB.TO drawdown since its inception was -20.54%, which is greater than CORE.TO's maximum drawdown of -3.48%. Use the drawdown chart below to compare losses from any high point for XFLB.TO and CORE.TO.

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Drawdown Indicators

XFLB.TOCORE.TODifference

Max Drawdown

Largest peak-to-trough decline

-20.54%

-3.48%

-17.06%

Max Drawdown (1Y)

Largest decline over 1 year

-7.04%

-2.99%

-4.05%

Max Drawdown (3Y)

Largest decline over 3 years

-15.61%

—

—

Current Drawdown

Current decline from peak

-9.31%

-0.27%

-9.04%

Average Drawdown

Average peak-to-trough decline

-8.16%

-1.36%

-6.80%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.09%

1.21%

+2.88%

Volatility

XFLB.TO vs. CORE.TO - Volatility Comparison

iShares Core Canadian 15+ Year Federal Bond Index ETF (XFLB.TO) has a higher volatility of 3.80% compared to PIMCO Canadian Core Bond Fund (CORE.TO) at 1.46%. This indicates that XFLB.TO's price experiences larger fluctuations and is considered to be riskier than CORE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XFLB.TOCORE.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.80%

1.46%

+2.34%

Volatility (6M)

Calculated over the trailing 6-month period

8.15%

3.17%

+4.98%

Volatility (1Y)

Calculated over the trailing 1-year period

10.27%

4.13%

+6.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.65%

5.01%

+10.64%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.65%

5.01%

+10.64%

XFLB.TO vs. CORE.TO - Expense Ratio Comparison

XFLB.TO has a 0.17% expense ratio, which is lower than CORE.TO's 0.32% expense ratio.

Dividends

XFLB.TO vs. CORE.TO - Dividend Comparison

XFLB.TO's dividend yield for the trailing twelve months is around 3.06%, less than CORE.TO's 3.36% yield.

PositionTTM202520242023
CORE.TO
PIMCO Canadian Core Bond Fund		3.36%3.42%0.32%0.00%
XFLB.TO
iShares Core Canadian 15+ Year Federal Bond Index ETF		3.06%3.05%2.72%2.27%

Frequently Asked Questions

XFLB.TO and CORE.TO have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XFLB.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XFLB.TO is cheaper with a 0.17% expense ratio, compared with 0.32% for CORE.TO.

They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.17% for XFLB.TO and 0.32% for CORE.TO.

Portfolio Optimizer

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