XGB.TO vs. XBI
XGB.TO (iShares Core Canadian Government Bond Index ETF) and XBI (SPDR S&P Biotech ETF) are both exchange-traded funds - XGB.TO is a Canadian Government Bonds fund tracking the Morningstar Can Core Bd GR CAD, while XBI is a Health & Biotech Equities fund tracking the S&P Biotechnology Select Industry Index. Both are passively managed. Over the past 10 years, XGB.TO returned 1.06%/yr vs 9.43%/yr for XBI. At a correlation of -0.01, they often move in opposite directions. XGB.TO charges 0.13%/yr vs 0.35%/yr for XBI.
Performance
XGB.TO vs. XBI - Performance Comparison
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Different Trading Currencies
XGB.TO is traded in CAD, while XBI is traded in USD. To make them comparable, the XBI values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XGB.TO achieves a 1.57% return, which is significantly lower than XBI's 10.93% return. Over the past 10 years, XGB.TO has underperformed XBI with an annualized return of 1.06%, while XBI has yielded a comparatively higher 9.43% annualized return.
XGB.TO
- 1D
- 0.00%
- 1M
- 1.53%
- YTD
- 1.57%
- 6M
- 0.83%
- 1Y
- 2.46%
- 3Y*
- 3.58%
- 5Y*
- 0.13%
- 10Y*
- 1.06%
XBI
- 1D
- 2.87%
- 1M
- 1.86%
- YTD
- 10.93%
- 6M
- 8.24%
- 1Y
- 65.11%
- 3Y*
- 16.97%
- 5Y*
- 4.05%
- 10Y*
- 9.43%
XGB.TO vs. XBI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XGB.TO iShares Core Canadian Government Bond Index ETF | 1.57% | 1.65% | 3.54% | 5.57% | -12.25% | -3.11% | 8.14% | 6.10% | 1.34% | 1.71% |
XBI SPDR S&P Biotech ETF | 10.93% | 29.66% | 9.68% | 5.23% | -20.58% | -21.17% | 45.82% | 26.05% | -8.09% | 34.62% |
Correlation
The correlation between XGB.TO and XBI is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2009 | -0.01 |
The correlation between XGB.TO and XBI shifts across timeframes, from -0.01 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XGB.TO vs. XBI — Risk / Return Rank
XGB.TO
XBI
XGB.TO vs. XBI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Canadian Government Bond Index ETF (XGB.TO) and SPDR S&P Biotech ETF (XBI). 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.
| XGB.TO | XBI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.04 | ||
| Sortino ratioReturn per unit of downside risk | -2.82 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.42 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | 7.05 | -6.18 |
| Martin ratioReturn relative to average drawdown | 1.86 | 19.34 | -17.49 |
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
| XGB.TO | XBI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.55 | 2.59 | -2.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.13 | -0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.18 | 0.31 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.50 | +0.02 |
Drawdowns
XGB.TO vs. XBI - Drawdown Comparison
The maximum XGB.TO drawdown since its inception was -19.53%, smaller than the maximum XBI drawdown of -63.18%. Use the drawdown chart below to compare losses from any high point for XGB.TO and XBI.
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Drawdown Indicators
| XGB.TO | XBI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.53% | -63.18% | +43.65% |
Max Drawdown (1Y)Largest decline over 1 year | -2.86% | -9.29% | +6.43% |
Max Drawdown (3Y)Largest decline over 3 years | -5.83% | -31.26% | +25.43% |
Max Drawdown (5Y)Largest decline over 5 years | -16.44% | -52.61% | +36.17% |
Max Drawdown (10Y)Largest decline over 10 years | -19.53% | -63.18% | +43.65% |
Current DrawdownCurrent decline from peak | -5.25% | -15.78% | +10.53% |
Average DrawdownAverage peak-to-trough decline | -3.94% | -20.38% | +16.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 3.38% | -2.05% |
Volatility
XGB.TO vs. XBI - Volatility Comparison
The current volatility for iShares Core Canadian Government Bond Index ETF (XGB.TO) is 1.71%, while SPDR S&P Biotech ETF (XBI) has a volatility of 9.61%. This indicates that XGB.TO experiences smaller price fluctuations and is considered to be less risky than XBI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XGB.TO | XBI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.71% | 9.61% | -7.90% |
Volatility (6M)Calculated over the trailing 6-month period | 3.49% | 20.04% | -16.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.52% | 25.28% | -20.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.92% | 30.73% | -23.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.99% | 30.77% | -24.78% |
XGB.TO vs. XBI - Expense Ratio Comparison
XGB.TO has a 0.13% expense ratio, which is lower than XBI's 0.35% expense ratio.
Dividends
XGB.TO vs. XBI - Dividend Comparison
XGB.TO's dividend yield for the trailing twelve months is around 3.11%, more than XBI's 0.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XBI SPDR S&P Biotech ETF | 0.33% | 0.37% | 0.15% | 0.02% | 0.00% | 0.04% | 0.20% | 0.00% | 0.28% | 0.24% | 0.26% | 0.61% |
XGB.TO iShares Core Canadian Government Bond Index ETF | 3.11% | 3.11% | 2.95% | 2.73% | 2.64% | 2.25% | 2.12% | 2.32% | 2.44% | 2.41% | 2.53% | 2.62% |
Frequently Asked Questions
XGB.TO and XBI have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XGB.TO is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XGB.TO is cheaper with a 0.13% expense ratio, compared with 0.35% for XBI.
XGB.TO is categorized as Canadian Government Bonds, while XBI is Health & Biotech Equities. XGB.TO tracks Morningstar Can Core Bd GR CAD, while XBI tracks S&P Biotechnology Select Industry Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.13% for XGB.TO and 0.35% for XBI.
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