XFLB.TO vs. XSHG.TO
XFLB.TO (iShares Core Canadian 15+ Year Federal Bond Index ETF) and XSHG.TO (iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF) are both Canadian Government Bonds funds from iShares - XFLB.TO tracks the Morningstar Can 10+Y Core Bd GR CAD while XSHG.TO tracks the Morningstar Can 1-5Y Core Bd GR CAD. Both are passively managed. Over the past 3 years, XFLB.TO returned -1.06%/yr vs 5.72%/yr for XSHG.TO. At a 0.45 correlation, their price movements are largely independent. Both charge a 0.17% expense ratio.
Performance
XFLB.TO vs. XSHG.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 higher than XSHG.TO's 1.14% return.
XFLB.TO
- 1D
- 0.11%
- 1M
- 3.14%
- YTD
- 2.42%
- 6M
- -0.48%
- 1Y
- -0.95%
- 3Y*
- -1.06%
- 5Y*
- —
- 10Y*
- —
XSHG.TO
- 1D
- -0.03%
- 1M
- 0.96%
- YTD
- 1.14%
- 6M
- 1.23%
- 1Y
- 3.54%
- 3Y*
- 5.72%
- 5Y*
- —
- 10Y*
- —
XFLB.TO vs. XSHG.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% |
XSHG.TO iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF | 1.14% | 4.53% | 6.86% | 4.99% |
Correlation
The correlation between XFLB.TO and XSHG.TO is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2023 | 0.45 |
The correlation between XFLB.TO and XSHG.TO has been stable across timeframes, ranging from 0.44 to 0.52 - a consistent structural relationship.
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Return for Risk
XFLB.TO vs. XSHG.TO — Risk / Return Rank
XFLB.TO
XSHG.TO
XFLB.TO vs. XSHG.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 ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF (XSHG.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 | XSHG.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.04 | ||
| Sortino ratioReturn per unit of downside risk | -2.90 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.42 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.14 | 2.47 | -2.61 |
| Martin ratioReturn relative to average drawdown | -0.23 | 9.54 | -9.77 |
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 | XSHG.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.09 | 1.95 | -2.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.03 | 1.01 | -1.04 |
Drawdowns
XFLB.TO vs. XSHG.TO - Drawdown Comparison
The maximum XFLB.TO drawdown since its inception was -20.54%, which is greater than XSHG.TO's maximum drawdown of -7.40%. Use the drawdown chart below to compare losses from any high point for XFLB.TO and XSHG.TO.
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Drawdown Indicators
| XFLB.TO | XSHG.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.54% | -7.40% | -13.14% |
Max Drawdown (1Y)Largest decline over 1 year | -7.04% | -1.44% | -5.60% |
Max Drawdown (3Y)Largest decline over 3 years | -15.61% | -1.44% | -14.17% |
Current DrawdownCurrent decline from peak | -9.31% | -0.03% | -9.28% |
Average DrawdownAverage peak-to-trough decline | -8.16% | -1.84% | -6.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.09% | 0.37% | +3.72% |
Volatility
XFLB.TO vs. XSHG.TO - Volatility Comparison
iShares Core Canadian 15+ Year Federal Bond Index ETF (XFLB.TO) has a higher volatility of 3.80% compared to iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF (XSHG.TO) at 0.68%. This indicates that XFLB.TO's price experiences larger fluctuations and is considered to be riskier than XSHG.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 | XSHG.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.80% | 0.68% | +3.12% |
Volatility (6M)Calculated over the trailing 6-month period | 8.15% | 1.52% | +6.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.27% | 1.82% | +8.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.65% | 2.79% | +12.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.65% | 2.79% | +12.86% |
XFLB.TO vs. XSHG.TO - Expense Ratio Comparison
Both XFLB.TO and XSHG.TO have an expense ratio of 0.17%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
XFLB.TO vs. XSHG.TO - Dividend Comparison
XFLB.TO's dividend yield for the trailing twelve months is around 3.06%, less than XSHG.TO's 3.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
XFLB.TO iShares Core Canadian 15+ Year Federal Bond Index ETF | 3.06% | 3.05% | 2.72% | 2.27% | 0.00% | 0.00% |
XSHG.TO iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF | 3.72% | 3.64% | 3.39% | 2.87% | 2.69% | 0.81% |
Frequently Asked Questions
XFLB.TO and XSHG.TO have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.17% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XFLB.TO and XSHG.TO have the same expense ratio: 0.17% per year.
XFLB.TO tracks Morningstar Can 10+Y Core Bd GR CAD, while XSHG.TO tracks Morningstar Can 1-5Y Core Bd GR CAD.
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