XFN.TO vs. SHY
XFN.TO (iShares S&P/TSX Capped Financials Index ETF) and SHY (iShares 1-3 Year Treasury Bond ETF) are both exchange-traded funds - XFN.TO is a Financials Equities fund tracking the Morningstar Gbl Fin Svc GR CAD, while SHY is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index. Both are passively managed. Over the past 10 years, XFN.TO returned 15.21%/yr vs 2.52%/yr for SHY. At a correlation of -0.11, they often move in opposite directions. XFN.TO charges 0.61%/yr vs 0.15%/yr for SHY.
Performance
XFN.TO vs. SHY - Performance Comparison
Loading charts...
Different Trading Currencies
XFN.TO is traded in CAD, while SHY is traded in USD. To make them comparable, the SHY values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XFN.TO achieves a 17.97% return, which is significantly higher than SHY's 2.59% return. Over the past 10 years, XFN.TO has outperformed SHY with an annualized return of 15.21%, while SHY has yielded a comparatively lower 2.52% annualized return.
XFN.TO
- 1D
- 0.81%
- 1M
- 7.31%
- YTD
- 17.97%
- 6M
- 19.57%
- 1Y
- 49.33%
- 3Y*
- 31.45%
- 5Y*
- 18.22%
- 10Y*
- 15.21%
SHY
- 1D
- 0.16%
- 1M
- 2.13%
- YTD
- 2.59%
- 6M
- 2.24%
- 1Y
- 6.15%
- 3Y*
- 5.71%
- 5Y*
- 4.72%
- 10Y*
- 2.52%
XFN.TO vs. SHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XFN.TO iShares S&P/TSX Capped Financials Index ETF | 17.97% | 34.40% | 29.32% | 13.09% | -9.92% | 35.57% | 0.99% | 20.66% | -9.76% | 12.54% |
SHY iShares 1-3 Year Treasury Bond ETF | 2.59% | 0.16% | 12.72% | 1.69% | 2.21% | -0.76% | 0.59% | -0.88% | 10.00% | -6.53% |
Correlation
The correlation between XFN.TO and SHY is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | -0.11 |
The correlation between XFN.TO and SHY shifts across timeframes, from -0.11 (all time) to 0.07 (1 year), 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
XFN.TO vs. SHY — Risk / Return Rank
XFN.TO
SHY
XFN.TO vs. SHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Capped Financials Index ETF (XFN.TO) and iShares 1-3 Year Treasury Bond ETF (SHY). 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.
| XFN.TO | SHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.78 | ||
| Sortino ratioReturn per unit of downside risk | +3.82 | ||
| Omega ratioGain probability vs. loss probability | 1.70 | 1.21 | +0.49 |
| Calmar ratioReturn relative to maximum drawdown | 6.20 | 1.42 | +4.77 |
| Martin ratioReturn relative to average drawdown | 25.03 | 3.45 | +21.58 |
Loading charts...
Drawdowns
XFN.TO vs. SHY - Drawdown Comparison
The maximum XFN.TO drawdown since its inception was -55.53%, which is greater than SHY's maximum drawdown of -26.01%. Use the drawdown chart below to compare losses from any high point for XFN.TO and SHY.
Loading charts...
Drawdown Indicators
| XFN.TO | SHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.53% | -26.01% | -29.52% |
Max Drawdown (1Y)Largest decline over 1 year | -7.80% | -3.91% | -3.89% |
Max Drawdown (3Y)Largest decline over 3 years | -12.37% | -6.02% | -6.35% |
Max Drawdown (5Y)Largest decline over 5 years | -21.90% | -6.38% | -15.52% |
Max Drawdown (10Y)Largest decline over 10 years | -39.93% | -16.62% | -23.31% |
Current DrawdownCurrent decline from peak | 0.00% | -0.14% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -6.95% | -10.76% | +3.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 1.61% | +0.32% |
Volatility
XFN.TO vs. SHY - Volatility Comparison
iShares S&P/TSX Capped Financials Index ETF (XFN.TO) has a higher volatility of 4.08% compared to iShares 1-3 Year Treasury Bond ETF (SHY) at 0.92%. This indicates that XFN.TO's price experiences larger fluctuations and is considered to be riskier than SHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XFN.TO | SHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.08% | 0.92% | +3.16% |
Volatility (6M)Calculated over the trailing 6-month period | 10.20% | 3.27% | +6.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.24% | 4.75% | +7.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.50% | 6.65% | +6.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.54% | 6.89% | +9.65% |
XFN.TO vs. SHY - Expense Ratio Comparison
XFN.TO has a 0.61% expense ratio, which is higher than SHY's 0.15% expense ratio.
Dividends
XFN.TO vs. SHY - Dividend Comparison
XFN.TO's dividend yield for the trailing twelve months is around 2.07%, less than SHY's 3.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 3.68% | 3.81% | 3.92% | 2.99% | 1.30% | 0.26% | 0.94% | 2.12% | 1.72% | 0.98% | 0.71% | 0.54% |
XFN.TO iShares S&P/TSX Capped Financials Index ETF | 2.07% | 2.39% | 3.16% | 3.60% | 3.48% | 2.67% | 3.35% | 3.00% | 3.43% | 2.73% | 2.83% | 3.17% |
Frequently Asked Questions
XFN.TO and SHY have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SHY is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SHY is cheaper with a 0.15% expense ratio, compared with 0.61% for XFN.TO.
XFN.TO is categorized as Financials Equities, while SHY is Government Bonds. XFN.TO tracks Morningstar Gbl Fin Svc GR CAD, while SHY tracks ICE US Treasury 1-3 Year Index. Their fees differ too: 0.61% for XFN.TO and 0.15% for SHY.
Find the right allocation for XFN.TO and SHY
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