XFR.TO vs. VSB.TO
XFR.TO (iShares Floating Rate Index ETF) and VSB.TO (Vanguard Canadian Short Term Bond) are both Canadian Government Bonds funds - XFR.TO tracks the Morningstar Can 1-5Y Core Bd GR CAD while VSB.TO tracks the FTSE Canada Short Term Government Bond Index. Both are passively managed. Over the past 10 years, XFR.TO returned 2.24%/yr vs 1.94%/yr for VSB.TO. At a 0.01 correlation, their price movements are largely independent. XFR.TO charges 0.14%/yr vs 0.15%/yr for VSB.TO.
Performance
XFR.TO vs. VSB.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with XFR.TO having a 1.00% return and VSB.TO slightly lower at 0.97%. Over the past 10 years, XFR.TO has outperformed VSB.TO with an annualized return of 2.24%, while VSB.TO has yielded a comparatively lower 1.94% annualized return.
XFR.TO
- 1D
- -0.05%
- 1M
- 0.21%
- YTD
- 1.00%
- 6M
- 1.33%
- 1Y
- 2.96%
- 3Y*
- 3.98%
- 5Y*
- 3.20%
- 10Y*
- 2.24%
VSB.TO
- 1D
- -0.04%
- 1M
- 0.92%
- YTD
- 0.97%
- 6M
- 0.78%
- 1Y
- 2.90%
- 3Y*
- 4.65%
- 5Y*
- 2.02%
- 10Y*
- 1.94%
XFR.TO vs. VSB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XFR.TO iShares Floating Rate Index ETF | 1.00% | 3.33% | 4.57% | 5.29% | 1.82% | 0.15% | 0.98% | 2.23% | 1.16% | 1.46% |
VSB.TO Vanguard Canadian Short Term Bond | 0.97% | 3.66% | 5.54% | 4.92% | -3.93% | -1.15% | 5.29% | 3.06% | 1.67% | -0.36% |
Correlation
The correlation between XFR.TO and VSB.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 | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2011 | 0.01 |
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Return for Risk
XFR.TO vs. VSB.TO — Risk / Return Rank
XFR.TO
VSB.TO
XFR.TO vs. VSB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Floating Rate Index ETF (XFR.TO) and Vanguard Canadian Short Term Bond (VSB.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.
| XFR.TO | VSB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.59 | ||
| Sortino ratioReturn per unit of downside risk | +4.87 | ||
| Omega ratioGain probability vs. loss probability | 1.96 | 1.30 | +0.66 |
| Calmar ratioReturn relative to maximum drawdown | 29.79 | 2.04 | +27.75 |
| Martin ratioReturn relative to average drawdown | 88.61 | 6.78 | +81.84 |
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
| XFR.TO | VSB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.12 | 1.53 | +2.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 3.92 | 0.79 | +3.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.22 | 0.56 | +0.66 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.19 | 0.64 | +0.55 |
Drawdowns
XFR.TO vs. VSB.TO - Drawdown Comparison
The maximum XFR.TO drawdown since its inception was -4.12%, smaller than the maximum VSB.TO drawdown of -8.38%. Use the drawdown chart below to compare losses from any high point for XFR.TO and VSB.TO.
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Drawdown Indicators
| XFR.TO | VSB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.12% | -8.38% | +4.26% |
Max Drawdown (1Y)Largest decline over 1 year | -0.10% | -1.43% | +1.33% |
Max Drawdown (3Y)Largest decline over 3 years | -0.30% | -1.43% | +1.13% |
Max Drawdown (5Y)Largest decline over 5 years | -0.30% | -6.88% | +6.58% |
Max Drawdown (10Y)Largest decline over 10 years | -4.12% | -8.38% | +4.26% |
Current DrawdownCurrent decline from peak | -0.05% | -0.13% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -0.06% | -0.95% | +0.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 0.43% | -0.40% |
Volatility
XFR.TO vs. VSB.TO - Volatility Comparison
The current volatility for iShares Floating Rate Index ETF (XFR.TO) is 0.18%, while Vanguard Canadian Short Term Bond (VSB.TO) has a volatility of 0.71%. This indicates that XFR.TO experiences smaller price fluctuations and is considered to be less risky than VSB.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 | VSB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.18% | 0.71% | -0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 0.48% | 1.57% | -1.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.72% | 1.90% | -1.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.82% | 2.57% | -1.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.85% | 3.48% | -1.63% |
XFR.TO vs. VSB.TO - Expense Ratio Comparison
XFR.TO has a 0.14% expense ratio, which is lower than VSB.TO's 0.15% 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
XFR.TO vs. VSB.TO - Dividend Comparison
XFR.TO's dividend yield for the trailing twelve months is around 2.77%, less than VSB.TO's 3.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VSB.TO Vanguard Canadian Short Term Bond | 3.00% | 3.04% | 3.04% | 2.66% | 2.24% | 2.02% | 2.24% | 2.31% | 2.29% | 2.34% | 2.45% | 2.38% |
XFR.TO iShares Floating Rate Index ETF | 2.77% | 3.23% | 4.93% | 4.91% | 1.85% | 0.30% | 1.07% | 1.96% | 1.60% | 0.95% | 0.77% | 0.94% |
Frequently Asked Questions
XFR.TO and VSB.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, 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 0.15% for VSB.TO.
XFR.TO tracks Morningstar Can 1-5Y Core Bd GR CAD, while VSB.TO tracks FTSE Canada Short Term Government Bond Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.14% for XFR.TO and 0.15% for VSB.TO.
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