XFR.TO vs. CCBI.TO
XFR.TO (iShares Floating Rate Index ETF) and CCBI.TO (CIBC Canadian Bond Index ETF) are both exchange-traded funds - XFR.TO is a Canadian Government Bonds fund tracking the FTSE Canada Floating Rate Note Index, while CCBI.TO is a Total Bond Market fund tracking the FTSE Canada Universe Bond Index. Both are passively managed. Over the past 5 years, XFR.TO returned 3.30%/yr vs 0.23%/yr for CCBI.TO. Their 0.02 correlation means their historical movements had little consistent relationship. XFR.TO charges 0.13%/yr vs 0.07%/yr for CCBI.TO.
Performance
XFR.TO vs. CCBI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XFR.TO achieves a 1.49% return, which is significantly higher than CCBI.TO's 0.72% return.
XFR.TO
- 1D
- 0.00%
- 1M
- 0.17%
- 6M
- 1.22%
- YTD
- 1.49%
- 1Y
- 2.74%
- 3Y*
- 3.85%
- 5Y*
- 3.30%
- 10Y*
- 2.27%
- ALL TIME*
- 1.92%
CCBI.TO
- 1D
- -0.39%
- 1M
- -1.26%
- 6M
- 0.01%
- YTD
- 0.72%
- 1Y
- 2.31%
- 3Y*
- 4.22%
- 5Y*
- 0.23%
- 10Y*
- —
- ALL TIME*
- 0.72%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
CCBI.TO CIBC Canadian Bond Index ETF | CA$238.27K | CA$302.42K | CA$297.80K |
| CA$782.48K | CA$603.81K | CA$966.23K |
XFR.TO vs. CCBI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XFR.TO iShares Floating Rate Index ETF | 1.49% | 3.33% | 4.57% | 5.29% | 1.81% | 0.09% |
CCBI.TO CIBC Canadian Bond Index ETF | 0.72% | 2.17% | 4.26% | 4.11% | -9.05% | 2.30% |
Correlation
The correlation between XFR.TO and CCBI.TO is 0.11, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.11 |
Correlation (3Y) Balances recent behavior with more history. | -0.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Mar 24, 2021 | 0.02 |
The correlation between XFR.TO and CCBI.TO shifts across timeframes, from -0.00 (3 years) to 0.11 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XFR.TO vs. CCBI.TO — Risk / Return Rank
XFR.TO
CCBI.TO
XFR.TO vs. CCBI.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Floating Rate Index ETF (XFR.TO) and CIBC Canadian Bond Index ETF (CCBI.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.
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.
| XFR.TO | CCBI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.31 | ||
| Sortino ratioReturn per unit of downside risk | +5.61 | ||
| Omega ratioGain probability vs. loss probability | 1.94 | 1.13 | +0.81 |
| Calmar ratioReturn relative to maximum drawdown | 28.60 | 1.02 | +27.57 |
| Martin ratioReturn relative to average drawdown | 82.37 | 2.49 | +79.89 |
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Drawdowns
XFR.TO vs. CCBI.TO - Drawdown Comparison
The maximum XFR.TO drawdown since its inception was -4.12%, smaller than the maximum CCBI.TO drawdown of -17.72%. Use the drawdown chart below to compare losses from any high point for XFR.TO and CCBI.TO.
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Drawdown Indicators
| XFR.TO | CCBI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.12% | -17.72% | +13.60% |
Max Drawdown (1Y)Largest decline over 1 year | -0.10% | -2.72% | +2.62% |
Max Drawdown (3Y)Largest decline over 3 years | -0.30% | -4.04% | +3.74% |
Max Drawdown (5Y)Largest decline over 5 years | -0.30% | -15.08% | +14.78% |
Max Drawdown (10Y)Largest decline over 10 years | -4.12% | — | — |
Current DrawdownCurrent decline from peak | -0.10% | -2.75% | +2.65% |
Average DrawdownAverage peak-to-trough decline | -0.06% | -7.88% | +7.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 1.12% | -1.09% |
Volatility
XFR.TO vs. CCBI.TO - Volatility Comparison
The current volatility for iShares Floating Rate Index ETF (XFR.TO) is 0.19%, while CIBC Canadian Bond Index ETF (CCBI.TO) has a volatility of 1.35%. This indicates that XFR.TO experiences smaller price fluctuations and is considered to be less risky than CCBI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XFR.TO | CCBI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.19% | 1.35% | -1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 0.45% | 3.42% | -2.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.72% | 4.26% | -3.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.84% | 6.60% | -5.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.86% | 6.96% | -5.10% |
XFR.TO vs. CCBI.TO - Expense Ratio Comparison
XFR.TO has a 0.13% expense ratio, which is higher than CCBI.TO's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XFR.TO vs. CCBI.TO - Dividend Comparison
XFR.TO's dividend yield for the trailing twelve months is around 2.71%, less than CCBI.TO's 3.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CCBI.TO CIBC Canadian Bond Index ETF | 3.39% | 3.22% | 2.85% | 2.78% | 2.60% | 1.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XFR.TO iShares Floating Rate Index ETF | 2.71% | 3.23% | 4.93% | 4.91% | 1.84% | 0.30% | 1.07% | 1.99% | 1.64% | 0.92% | 0.65% | 0.95% |
Frequently Asked Questions
XFR.TO and CCBI.TO have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CCBI.TO is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CCBI.TO is cheaper with a 0.07% expense ratio, compared with 0.13% for XFR.TO.
XFR.TO is categorized as Canadian Government Bonds, while CCBI.TO is Total Bond Market. XFR.TO tracks FTSE Canada Floating Rate Note Index, while CCBI.TO tracks FTSE Canada Universe Bond Index. They also come from different issuers: iShares and CIBC. Their fees differ too: 0.13% for XFR.TO and 0.07% for CCBI.TO.
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