XGB.TO vs. XDIV.TO
XGB.TO (iShares Core Canadian Government Bond Index ETF) and XDIV.TO (iShares Core MSCI Canadian Quality Dividend Index ETF) are both exchange-traded funds - XGB.TO is a Canadian Government Bonds fund tracking the Morningstar Can Core Bd GR CAD, while XDIV.TO is a Dividend fund tracking the MSCI Canada High Dividend Yield 10% Security Capped Index. Both are passively managed. Over the past 5 years, XGB.TO returned 0.13%/yr vs 16.63%/yr for XDIV.TO. At a correlation of -0.02, they often move in opposite directions. XGB.TO charges 0.13%/yr vs 0.11%/yr for XDIV.TO.
Performance
XGB.TO vs. XDIV.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XGB.TO achieves a 1.57% return, which is significantly lower than XDIV.TO's 20.26% 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%
XDIV.TO
- 1D
- 0.91%
- 1M
- 3.66%
- YTD
- 20.26%
- 6M
- 19.53%
- 1Y
- 40.50%
- 3Y*
- 23.53%
- 5Y*
- 16.63%
- 10Y*
- —
XGB.TO vs. XDIV.TO - 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% | -1.17% |
XDIV.TO iShares Core MSCI Canadian Quality Dividend Index ETF | 20.26% | 24.92% | 19.56% | 11.71% | 0.29% | 32.25% | -7.81% | 24.84% | -10.04% | 8.48% |
Correlation
The correlation between XGB.TO and XDIV.TO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jun 16, 2017 | -0.02 |
The correlation between XGB.TO and XDIV.TO shifts across timeframes, from -0.02 (all time) to 0.19 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
XGB.TO vs. XDIV.TO — Risk / Return Rank
XGB.TO
XDIV.TO
XGB.TO vs. XDIV.TO - 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 iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.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.
| XGB.TO | XDIV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.62 | ||
| Sortino ratioReturn per unit of downside risk | -6.86 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 2.09 | -0.99 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | 17.45 | -16.59 |
| Martin ratioReturn relative to average drawdown | 1.86 | 59.31 | -57.46 |
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 | XDIV.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.55 | 5.17 | -4.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 1.59 | -1.57 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.18 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.82 | -0.30 |
Drawdowns
XGB.TO vs. XDIV.TO - Drawdown Comparison
The maximum XGB.TO drawdown since its inception was -19.53%, smaller than the maximum XDIV.TO drawdown of -41.30%. Use the drawdown chart below to compare losses from any high point for XGB.TO and XDIV.TO.
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Drawdown Indicators
| XGB.TO | XDIV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.53% | -41.30% | +21.77% |
Max Drawdown (1Y)Largest decline over 1 year | -2.86% | -2.33% | -0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -5.83% | -10.53% | +4.70% |
Max Drawdown (5Y)Largest decline over 5 years | -16.44% | -17.60% | +1.16% |
Max Drawdown (10Y)Largest decline over 10 years | -19.53% | — | — |
Current DrawdownCurrent decline from peak | -5.25% | 0.00% | -5.25% |
Average DrawdownAverage peak-to-trough decline | -3.94% | -4.25% | +0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 0.68% | +0.65% |
Volatility
XGB.TO vs. XDIV.TO - Volatility Comparison
The current volatility for iShares Core Canadian Government Bond Index ETF (XGB.TO) is 1.71%, while iShares Core MSCI Canadian Quality Dividend Index ETF (XDIV.TO) has a volatility of 2.81%. This indicates that XGB.TO experiences smaller price fluctuations and is considered to be less risky than XDIV.TO 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 | XDIV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.71% | 2.81% | -1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.49% | 6.37% | -2.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.52% | 7.89% | -3.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.92% | 10.53% | -3.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.99% | 16.00% | -10.01% |
XGB.TO vs. XDIV.TO - Expense Ratio Comparison
XGB.TO has a 0.13% expense ratio, which is higher than XDIV.TO's 0.11% 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
XGB.TO vs. XDIV.TO - Dividend Comparison
XGB.TO's dividend yield for the trailing twelve months is around 3.11%, less than XDIV.TO's 3.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XDIV.TO iShares Core MSCI Canadian Quality Dividend Index ETF | 3.26% | 3.81% | 4.29% | 4.20% | 3.95% | 3.58% | 4.58% | 4.02% | 4.85% | 1.82% | 0.00% | 0.00% |
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 XDIV.TO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XDIV.TO is cheaper at 0.11% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XDIV.TO is cheaper with a 0.11% expense ratio, compared with 0.13% for XGB.TO.
XGB.TO is categorized as Canadian Government Bonds, while XDIV.TO is Dividend. XGB.TO tracks Morningstar Can Core Bd GR CAD, while XDIV.TO tracks MSCI Canada High Dividend Yield 10% Security Capped Index. Their fees differ too: 0.13% for XGB.TO and 0.11% for XDIV.TO.
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