XFR.TO vs. HDIF.TO
XFR.TO (iShares Floating Rate Index ETF) and HDIF.TO (Harvest Diversified Monthly Income ETF - Class A Units) are both exchange-traded funds - XFR.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD, while HDIF.TO is a Derivative Income fund actively managed by Harvest. XFR.TO is passively managed, while HDIF.TO is actively managed. Over the past 3 years, XFR.TO returned 3.98%/yr vs 17.71%/yr for HDIF.TO. At a 0.03 correlation, their price movements are largely independent. XFR.TO charges 0.14%/yr vs 2.47%/yr for HDIF.TO.
Performance
XFR.TO vs. HDIF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XFR.TO achieves a 1.15% return, which is significantly lower than HDIF.TO's 11.43% return.
XFR.TO
- 1D
- 0.05%
- 1M
- 0.26%
- YTD
- 1.15%
- 6M
- 1.33%
- 1Y
- 3.02%
- 3Y*
- 3.98%
- 5Y*
- 3.24%
- 10Y*
- 2.26%
HDIF.TO
- 1D
- 0.74%
- 1M
- 4.15%
- YTD
- 11.43%
- 6M
- 12.09%
- 1Y
- 28.27%
- 3Y*
- 17.71%
- 5Y*
- —
- 10Y*
- —
XFR.TO vs. HDIF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XFR.TO iShares Floating Rate Index ETF | 1.15% | 3.33% | 4.57% | 5.29% | 1.89% |
HDIF.TO Harvest Diversified Monthly Income ETF - Class A Units | 11.43% | 15.70% | 18.44% | 12.76% | -14.72% |
Correlation
The correlation between XFR.TO and HDIF.TO 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 | 0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 16, 2022 | 0.03 |
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Return for Risk
XFR.TO vs. HDIF.TO — Risk / Return Rank
XFR.TO
HDIF.TO
XFR.TO vs. HDIF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Floating Rate Index ETF (XFR.TO) and Harvest Diversified Monthly Income ETF - Class A Units (HDIF.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 | HDIF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.07 | ||
| Sortino ratioReturn per unit of downside risk | +4.22 | ||
| Omega ratioGain probability vs. loss probability | 1.98 | 1.37 | +0.61 |
| Calmar ratioReturn relative to maximum drawdown | 29.79 | 3.06 | +26.73 |
| Martin ratioReturn relative to average drawdown | 90.21 | 12.56 | +77.66 |
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Drawdowns
XFR.TO vs. HDIF.TO - Drawdown Comparison
The maximum XFR.TO drawdown since its inception was -4.12%, smaller than the maximum HDIF.TO drawdown of -24.08%. Use the drawdown chart below to compare losses from any high point for XFR.TO and HDIF.TO.
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Drawdown Indicators
| XFR.TO | HDIF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.12% | -24.08% | +19.96% |
Max Drawdown (1Y)Largest decline over 1 year | -0.10% | -8.79% | +8.69% |
Max Drawdown (3Y)Largest decline over 3 years | -0.30% | -19.59% | +19.29% |
Max Drawdown (5Y)Largest decline over 5 years | -0.30% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -4.12% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.84% | +0.84% |
Average DrawdownAverage peak-to-trough decline | -0.06% | -6.63% | +6.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 2.14% | -2.11% |
Volatility
XFR.TO vs. HDIF.TO - Volatility Comparison
The current volatility for iShares Floating Rate Index ETF (XFR.TO) is 0.23%, while Harvest Diversified Monthly Income ETF - Class A Units (HDIF.TO) has a volatility of 4.52%. This indicates that XFR.TO experiences smaller price fluctuations and is considered to be less risky than HDIF.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 | HDIF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.23% | 4.52% | -4.29% |
Volatility (6M)Calculated over the trailing 6-month period | 0.47% | 10.75% | -10.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.72% | 12.99% | -12.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.85% | 17.49% | -16.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.86% | 17.49% | -15.63% |
XFR.TO vs. HDIF.TO - Expense Ratio Comparison
XFR.TO has a 0.14% expense ratio, which is lower than HDIF.TO's 2.47% expense ratio.
Dividends
XFR.TO vs. HDIF.TO - Dividend Comparison
XFR.TO's dividend yield for the trailing twelve months is around 2.77%, less than HDIF.TO's 10.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDIF.TO Harvest Diversified Monthly Income ETF - Class A Units | 10.23% | 9.95% | 10.14% | 10.59% | 8.93% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XFR.TO iShares Floating Rate Index ETF | 2.77% | 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 HDIF.TO 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, XFR.TO is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XFR.TO is cheaper with a 0.14% expense ratio, compared with 2.47% for HDIF.TO.
XFR.TO is categorized as Canadian Government Bonds, while HDIF.TO is Derivative Income. They also come from different issuers: iShares and Harvest. Their fees differ too: 0.14% for XFR.TO and 2.47% for HDIF.TO.
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