PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
XHB.TO vs. BND.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XHB.TO vs. BND.TO

Last updated Jun 4, 2026

XHB.TO (iShares Canadian HYBrid Corporate Bond Index ETF) and BND.TO (Purpose Global Bond Fund) are both exchange-traded funds - XHB.TO is a Corporate Bonds fund tracking the Morningstar Can Corp Bd GR CAD, while BND.TO is a fund fund. Over the past 10 years, XHB.TO returned 5.63%/yr vs 3.00%/yr for BND.TO. At a 0.18 correlation, their price movements are largely independent.

Performance

XHB.TO vs. BND.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Canadian HYBrid Corporate Bond Index ETF (XHB.TO) and Purpose Global Bond Fund (BND.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, XHB.TO achieves a 2.17% return, which is significantly higher than BND.TO's 0.89% return. Over the past 10 years, XHB.TO has outperformed BND.TO with an annualized return of 5.63%, while BND.TO has yielded a comparatively lower 3.00% annualized return.

XHB.TO

1D
0.00%
1M
1.76%
YTD
2.17%
6M
2.20%
1Y
5.90%
3Y*
9.70%
5Y*
5.68%
10Y*
5.63%

BND.TO

1D
-0.28%
1M
0.77%
YTD
0.89%
6M
1.18%
1Y
6.14%
3Y*
7.22%
5Y*
3.27%
10Y*
3.00%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XHB.TO vs. BND.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XHB.TO
iShares Canadian HYBrid Corporate Bond Index ETF		2.17%5.34%11.53%14.52%-6.53%2.10%11.03%10.73%0.59%4.49%
BND.TO
Purpose Global Bond Fund		0.89%7.23%7.49%8.45%-7.80%2.85%6.14%4.16%-0.91%1.72%

Correlation

The correlation between XHB.TO and BND.TO is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.43

Correlation (3Y)
Calculated over the trailing 3-year period

0.30

Correlation (5Y)
Calculated over the trailing 5-year period

0.24

Correlation (10Y)
Calculated over the trailing 10-year period

0.19

Correlation (All Time)
Calculated using the full available price history since Oct 29, 2015

0.18

Over the past year, XHB.TO and BND.TO have become more correlated (0.43) than their long-term average of 0.18, meaning their price movements have been converging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Canadian HYBrid Corporate Bond Index ETF

Purpose Global Bond Fund

Often compared with XHB.TO:
XHB.TO vs. XCB.TOXHB.TO vs. XLB.TOXHB.TO vs. XBB.TOXHB.TO vs. VSBIXXHB.TO vs. XCBG.TOXHB.TO vs. XHY.TOXHB.TO vs. ZAG.TO
Often compared with BND.TO:
BND.TO vs. SGOVBND.TO vs. SCHDBND.TO vs. SPYBND.TO vs. JEPIBND.TO vs. BNDBND.TO vs. SCHIBND.TO vs. FALN

Return for Risk

XHB.TO vs. BND.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XHB.TO
XHB.TO Risk / Return Rank: 5151
Overall Rank
XHB.TO Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
XHB.TO Sortino Ratio Rank: 5454
Sortino Ratio Rank
XHB.TO Omega Ratio Rank: 5252
Omega Ratio Rank
XHB.TO Calmar Ratio Rank: 5050
Calmar Ratio Rank
XHB.TO Martin Ratio Rank: 4949
Martin Ratio Rank
BND.TO
BND.TO Risk / Return Rank: 5555
Overall Rank
BND.TO Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
BND.TO Sortino Ratio Rank: 6161
Sortino Ratio Rank
BND.TO Omega Ratio Rank: 6161
Omega Ratio Rank
BND.TO Calmar Ratio Rank: 4343
Calmar Ratio Rank
BND.TO Martin Ratio Rank: 5252
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XHB.TO vs. BND.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Canadian HYBrid Corporate Bond Index ETF (XHB.TO) and Purpose Global Bond Fund (BND.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.

XHB.TOBND.TODifference
Sharpe ratioReturn per unit of total volatility
1.80
2.02

-0.22

Sortino ratioReturn per unit of downside risk
2.62
2.93

-0.31

Omega ratioGain probability vs. loss probability

1.33

1.38

-0.05

Calmar ratioReturn relative to maximum drawdown

2.45

2.17

+0.28

Martin ratioReturn relative to average drawdown

8.07

8.87

-0.80

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XHB.TO vs. BND.TO - Sharpe Ratio Comparison

The current XHB.TO Sharpe Ratio is 1.80, which is comparable to the BND.TO Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of XHB.TO and BND.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

XHB.TOBND.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.80

2.02

-0.22

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.02

0.64

+0.38

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.51

0.59

-0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.58

0.61

-0.03

Drawdowns

XHB.TO vs. BND.TO - Drawdown Comparison

The maximum XHB.TO drawdown since its inception was -26.03%, which is greater than BND.TO's maximum drawdown of -16.55%. Use the drawdown chart below to compare losses from any high point for XHB.TO and BND.TO.

Loading charts...

Drawdown Indicators

XHB.TOBND.TODifference

Max Drawdown

Largest peak-to-trough decline

-26.03%

-16.55%

-9.48%

Max Drawdown (1Y)

Largest decline over 1 year

-2.42%

-2.84%

+0.42%

Max Drawdown (3Y)

Largest decline over 3 years

-2.42%

-4.46%

+2.04%

Max Drawdown (5Y)

Largest decline over 5 years

-11.83%

-12.23%

+0.40%

Max Drawdown (10Y)

Largest decline over 10 years

-26.03%

-16.55%

-9.48%

Current Drawdown

Current decline from peak

0.00%

-0.45%

+0.45%

Average Drawdown

Average peak-to-trough decline

-1.59%

-2.07%

+0.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.73%

0.69%

+0.04%

Volatility

XHB.TO vs. BND.TO - Volatility Comparison

The current volatility for iShares Canadian HYBrid Corporate Bond Index ETF (XHB.TO) is 1.17%, while Purpose Global Bond Fund (BND.TO) has a volatility of 1.35%. This indicates that XHB.TO experiences smaller price fluctuations and is considered to be less risky than BND.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

XHB.TOBND.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.17%

1.35%

-0.18%

Volatility (6M)

Calculated over the trailing 6-month period

2.62%

2.52%

+0.10%

Volatility (1Y)

Calculated over the trailing 1-year period

3.32%

3.06%

+0.26%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.61%

5.10%

+0.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.05%

5.15%

+5.90%

Dividends

XHB.TO vs. BND.TO - Dividend Comparison

XHB.TO's dividend yield for the trailing twelve months is around 4.52%, less than BND.TO's 5.86% yield.

PositionTTM20252024202320222021202020192018201720162015
BND.TO
Purpose Global Bond Fund		5.86%5.70%5.24%5.20%4.14%3.89%3.48%3.11%3.96%3.47%3.26%0.53%
XHB.TO
iShares Canadian HYBrid Corporate Bond Index ETF		4.52%4.48%7.49%8.06%7.74%5.57%5.47%5.75%4.07%4.08%4.35%4.78%

Frequently Asked Questions

XHB.TO and BND.TO have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Portfolio Optimizer

Find the right allocation for XHB.TO and BND.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer