XFR.TO vs. XIC.TO
XFR.TO (iShares Floating Rate Index ETF) and XIC.TO (iShares Core S&P/TSX Capped Composite Index ETF) are both exchange-traded funds - XFR.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD, while XIC.TO is a Canada Equities fund tracking the S&P/TSX Capped Composite Index. Both are passively managed. Over the past 10 years, XFR.TO returned 2.24%/yr vs 12.48%/yr for XIC.TO. At a 0.03 correlation, their price movements are largely independent. XFR.TO charges 0.14%/yr vs 0.06%/yr for XIC.TO.
Performance
XFR.TO vs. XIC.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XFR.TO achieves a 1.00% return, which is significantly lower than XIC.TO's 10.75% return. Over the past 10 years, XFR.TO has underperformed XIC.TO with an annualized return of 2.24%, while XIC.TO has yielded a comparatively higher 12.48% 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%
XIC.TO
- 1D
- -1.05%
- 1M
- 3.59%
- YTD
- 10.75%
- 6M
- 12.90%
- 1Y
- 34.79%
- 3Y*
- 23.62%
- 5Y*
- 14.60%
- 10Y*
- 12.48%
XFR.TO vs. XIC.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% |
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF | 10.75% | 31.51% | 21.48% | 11.73% | -5.82% | 23.42% | 5.61% | 22.76% | -8.72% | 8.99% |
Correlation
The correlation between XFR.TO and XIC.TO is -0.06, 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 | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2011 | 0.03 |
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Return for Risk
XFR.TO vs. XIC.TO — Risk / Return Rank
XFR.TO
XIC.TO
XFR.TO vs. XIC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Floating Rate Index ETF (XFR.TO) and iShares Core S&P/TSX Capped Composite Index ETF (XIC.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 | XIC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.36 | ||
| Sortino ratioReturn per unit of downside risk | +3.42 | ||
| Omega ratioGain probability vs. loss probability | 1.96 | 1.50 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 29.79 | 3.76 | +26.03 |
| Martin ratioReturn relative to average drawdown | 88.61 | 17.44 | +71.17 |
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 | XIC.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.12 | 2.76 | +1.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 3.92 | 1.12 | +2.81 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.22 | 0.84 | +0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.19 | 0.54 | +0.65 |
Drawdowns
XFR.TO vs. XIC.TO - Drawdown Comparison
The maximum XFR.TO drawdown since its inception was -4.12%, smaller than the maximum XIC.TO drawdown of -48.21%. Use the drawdown chart below to compare losses from any high point for XFR.TO and XIC.TO.
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Drawdown Indicators
| XFR.TO | XIC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.12% | -48.21% | +44.09% |
Max Drawdown (1Y)Largest decline over 1 year | -0.10% | -9.29% | +9.19% |
Max Drawdown (3Y)Largest decline over 3 years | -0.30% | -12.27% | +11.97% |
Max Drawdown (5Y)Largest decline over 5 years | -0.30% | -16.24% | +15.94% |
Max Drawdown (10Y)Largest decline over 10 years | -4.12% | -37.21% | +33.09% |
Current DrawdownCurrent decline from peak | -0.05% | -1.05% | +1.00% |
Average DrawdownAverage peak-to-trough decline | -0.06% | -7.04% | +6.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 2.00% | -1.97% |
Volatility
XFR.TO vs. XIC.TO - Volatility Comparison
The current volatility for iShares Floating Rate Index ETF (XFR.TO) is 0.18%, while iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) has a volatility of 3.48%. This indicates that XFR.TO experiences smaller price fluctuations and is considered to be less risky than XIC.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 | XIC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.18% | 3.48% | -3.30% |
Volatility (6M)Calculated over the trailing 6-month period | 0.48% | 10.33% | -9.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.72% | 12.67% | -11.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.82% | 13.13% | -12.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.85% | 14.96% | -13.11% |
XFR.TO vs. XIC.TO - Expense Ratio Comparison
XFR.TO has a 0.14% expense ratio, which is higher than XIC.TO's 0.06% 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. XIC.TO - Dividend Comparison
XFR.TO's dividend yield for the trailing twelve months is around 2.77%, more than XIC.TO's 2.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF | 2.02% | 2.23% | 2.64% | 2.95% | 3.10% | 2.44% | 3.03% | 3.01% | 3.19% | 2.49% | 2.72% | 3.21% |
Frequently Asked Questions
XFR.TO and XIC.TO have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XIC.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XIC.TO is cheaper with a 0.06% expense ratio, compared with 0.14% for XFR.TO.
XFR.TO is categorized as Canadian Government Bonds, while XIC.TO is Canada Equities. XFR.TO tracks Morningstar Can 1-5Y Core Bd GR CAD, while XIC.TO tracks S&P/TSX Capped Composite Index. Their fees differ too: 0.14% for XFR.TO and 0.06% for XIC.TO.
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