XFLB.TO vs. XEI.TO
XFLB.TO (iShares Core Canadian 15+ Year Federal Bond Index ETF) and XEI.TO (iShares S&P/TSX Composite High Dividend Index ETF) are both exchange-traded funds - XFLB.TO is a Canadian Government Bonds fund tracking the Morningstar Can 10+Y Core Bd GR CAD, while XEI.TO is a Canada Equities fund tracking the S&P/TSX Composite High Dividend Index. Both are passively managed. Over the past 3 years, XFLB.TO returned -1.06%/yr vs 22.26%/yr for XEI.TO. At a 0.07 correlation, their price movements are largely independent. XFLB.TO charges 0.17%/yr vs 0.22%/yr for XEI.TO.
Performance
XFLB.TO vs. XEI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XFLB.TO achieves a 2.42% return, which is significantly lower than XEI.TO's 22.21% return.
XFLB.TO
- 1D
- 0.11%
- 1M
- 3.14%
- YTD
- 2.42%
- 6M
- -0.48%
- 1Y
- -0.95%
- 3Y*
- -1.06%
- 5Y*
- —
- 10Y*
- —
XEI.TO
- 1D
- 0.00%
- 1M
- 3.33%
- YTD
- 22.21%
- 6M
- 23.56%
- 1Y
- 43.59%
- 3Y*
- 22.26%
- 5Y*
- 15.55%
- 10Y*
- 12.32%
XFLB.TO vs. XEI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XFLB.TO iShares Core Canadian 15+ Year Federal Bond Index ETF | 2.42% | -6.17% | -2.12% | 4.63% |
XEI.TO iShares S&P/TSX Composite High Dividend Index ETF | 22.21% | 25.96% | 15.42% | 0.09% |
Correlation
The correlation between XFLB.TO and XEI.TO is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2023 | 0.07 |
The correlation between XFLB.TO and XEI.TO shifts across timeframes, from -0.02 (1 year) to 0.10 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
XFLB.TO vs. XEI.TO — Risk / Return Rank
XFLB.TO
XEI.TO
XFLB.TO vs. XEI.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 iShares S&P/TSX Composite High Dividend Index ETF (XEI.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.TO | XEI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.17 | ||
| Sortino ratioReturn per unit of downside risk | -9.13 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 2.27 | -1.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.14 | 19.53 | -19.66 |
| Martin ratioReturn relative to average drawdown | -0.23 | 66.28 | -66.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XFLB.TO | XEI.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.09 | 6.08 | -6.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.39 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.77 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.03 | 0.67 | -0.70 |
Drawdowns
XFLB.TO vs. XEI.TO - Drawdown Comparison
The maximum XFLB.TO drawdown since its inception was -20.54%, smaller than the maximum XEI.TO drawdown of -45.51%. Use the drawdown chart below to compare losses from any high point for XFLB.TO and XEI.TO.
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Drawdown Indicators
| XFLB.TO | XEI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.54% | -45.51% | +24.97% |
Max Drawdown (1Y)Largest decline over 1 year | -7.04% | -2.24% | -4.80% |
Max Drawdown (3Y)Largest decline over 3 years | -15.61% | -9.92% | -5.69% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.32% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.51% | — |
Current DrawdownCurrent decline from peak | -9.31% | -0.76% | -8.55% |
Average DrawdownAverage peak-to-trough decline | -8.16% | -5.05% | -3.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.09% | 0.66% | +3.43% |
Volatility
XFLB.TO vs. XEI.TO - Volatility Comparison
iShares Core Canadian 15+ Year Federal Bond Index ETF (XFLB.TO) has a higher volatility of 3.80% compared to iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) at 2.87%. This indicates that XFLB.TO's price experiences larger fluctuations and is considered to be riskier than XEI.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.TO | XEI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.80% | 2.87% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 8.15% | 6.01% | +2.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.27% | 7.21% | +3.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.65% | 11.24% | +4.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.65% | 16.01% | -0.36% |
XFLB.TO vs. XEI.TO - Expense Ratio Comparison
XFLB.TO has a 0.17% expense ratio, which is lower than XEI.TO's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XFLB.TO vs. XEI.TO - Dividend Comparison
XFLB.TO's dividend yield for the trailing twelve months is around 3.06%, less than XEI.TO's 3.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XEI.TO iShares S&P/TSX Composite High Dividend Index ETF | 3.56% | 4.39% | 5.56% | 5.08% | 4.78% | 3.65% | 5.13% | 4.71% | 5.53% | 4.37% | 4.51% | 5.75% |
XFLB.TO iShares Core Canadian 15+ Year Federal Bond Index ETF | 3.06% | 3.05% | 2.72% | 2.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XFLB.TO and XEI.TO have a correlation of -0.02, 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 0.22% for XEI.TO.
XFLB.TO is categorized as Canadian Government Bonds, while XEI.TO is Canada Equities. XFLB.TO tracks Morningstar Can 10+Y Core Bd GR CAD, while XEI.TO tracks S&P/TSX Composite High Dividend Index. Their fees differ too: 0.17% for XFLB.TO and 0.22% for XEI.TO.
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