XGB.TO vs. XIC.TO
XGB.TO (iShares Core Canadian Government Bond Index ETF) and XIC.TO (iShares Core S&P/TSX Capped Composite Index ETF) are both exchange-traded funds - XGB.TO is a Canadian Government Bonds fund tracking the Morningstar Can 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, XGB.TO returned 1.06%/yr vs 12.57%/yr for XIC.TO. At a correlation of -0.11, they often move in opposite directions. XGB.TO charges 0.13%/yr vs 0.06%/yr for XIC.TO.
Performance
XGB.TO vs. XIC.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 XIC.TO's 12.10% return. Over the past 10 years, XGB.TO has underperformed XIC.TO with an annualized return of 1.06%, while XIC.TO has yielded a comparatively higher 12.57% 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%
XIC.TO
- 1D
- 1.22%
- 1M
- 5.07%
- YTD
- 12.10%
- 6M
- 13.12%
- 1Y
- 36.92%
- 3Y*
- 24.30%
- 5Y*
- 14.88%
- 10Y*
- 12.57%
XGB.TO vs. XIC.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% | 1.71% |
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF | 12.10% | 31.51% | 21.48% | 11.73% | -5.82% | 23.42% | 5.61% | 22.76% | -8.72% | 8.99% |
Correlation
The correlation between XGB.TO and XIC.TO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2006 | -0.11 |
The correlation between XGB.TO and XIC.TO shifts across timeframes, from -0.11 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XGB.TO vs. XIC.TO — Risk / Return Rank
XGB.TO
XIC.TO
XGB.TO vs. XIC.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 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.
| XGB.TO | XIC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.37 | ||
| Sortino ratioReturn per unit of downside risk | -2.99 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.53 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | 3.99 | -3.13 |
| Martin ratioReturn relative to average drawdown | 1.86 | 18.51 | -16.65 |
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 | XIC.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.55 | 2.92 | -2.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 1.14 | -1.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.18 | 0.84 | -0.67 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.54 | -0.03 |
Drawdowns
XGB.TO vs. XIC.TO - Drawdown Comparison
The maximum XGB.TO drawdown since its inception was -19.53%, smaller than the maximum XIC.TO drawdown of -48.21%. Use the drawdown chart below to compare losses from any high point for XGB.TO and XIC.TO.
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Drawdown Indicators
| XGB.TO | XIC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.53% | -48.21% | +28.68% |
Max Drawdown (1Y)Largest decline over 1 year | -2.86% | -9.29% | +6.43% |
Max Drawdown (3Y)Largest decline over 3 years | -5.83% | -12.27% | +6.44% |
Max Drawdown (5Y)Largest decline over 5 years | -16.44% | -16.24% | -0.20% |
Max Drawdown (10Y)Largest decline over 10 years | -19.53% | -37.21% | +17.68% |
Current DrawdownCurrent decline from peak | -5.25% | 0.00% | -5.25% |
Average DrawdownAverage peak-to-trough decline | -3.94% | -7.04% | +3.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 2.00% | -0.67% |
Volatility
XGB.TO vs. XIC.TO - Volatility Comparison
The current volatility for iShares Core Canadian Government Bond Index ETF (XGB.TO) is 1.71%, while iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) has a volatility of 3.61%. This indicates that XGB.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
| XGB.TO | XIC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.71% | 3.61% | -1.90% |
Volatility (6M)Calculated over the trailing 6-month period | 3.49% | 10.39% | -6.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.52% | 12.71% | -8.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.92% | 13.14% | -6.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.99% | 14.96% | -8.97% |
XGB.TO vs. XIC.TO - Expense Ratio Comparison
XGB.TO has a 0.13% 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
XGB.TO vs. XIC.TO - Dividend Comparison
XGB.TO's dividend yield for the trailing twelve months is around 3.11%, more than XIC.TO's 2.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF | 2.00% | 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
XGB.TO and XIC.TO have a correlation of 0.33, 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 0.13% for XGB.TO.
XGB.TO is categorized as Canadian Government Bonds, while XIC.TO is Canada Equities. XGB.TO tracks Morningstar Can Core Bd GR CAD, while XIC.TO tracks S&P/TSX Capped Composite Index. Their fees differ too: 0.13% for XGB.TO and 0.06% for XIC.TO.
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