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XHB.TO vs. DXO.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XHB.TO vs. DXO.TO

Last updated Jul 16, 2026
Documentation

XHB.TO (iShares Canadian HYBrid Corporate Bond Index ETF) and DXO.TO (Dynamic Active Crossover Bond ETF) are both Corporate Bonds funds. XHB.TO is passively managed, while DXO.TO is actively managed. Over the past 5 years, XHB.TO returned 2.88%/yr vs 2.78%/yr for DXO.TO. At a 0.22 correlation, their price movements are largely independent.

Performance

XHB.TO vs. DXO.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 Dynamic Active Crossover Bond ETF (DXO.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XHB.TO achieves a 2.00% return, which is significantly higher than DXO.TO's 1.86% return.

XHB.TO

1D
0.25%
1M
-0.37%
6M
1.29%
YTD
2.00%
1Y
5.70%
3Y*
7.13%
5Y*
2.88%
10Y*
3.76%

DXO.TO

1D
0.21%
1M
0.21%
6M
1.45%
YTD
1.86%
1Y
5.69%
3Y*
7.29%
5Y*
2.78%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
XHB.TO
iShares Canadian HYBrid Corporate Bond Index ETF		2.00%5.34%8.02%10.06%-9.67%0.02%8.71%8.59%0.59%3.72%
DXO.TO
Dynamic Active Crossover Bond ETF		1.86%6.82%6.51%11.28%-12.16%5.03%10.15%12.26%-1.94%4.52%

Correlation

The correlation between XHB.TO and DXO.TO is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.44

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

0.37

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

0.33

Correlation (All Time)
Calculated using the full available price history since Jan 25, 2017

0.22

Over the past year, XHB.TO and DXO.TO have become more correlated (0.44) than their long-term average of 0.22, 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

Dynamic Active Crossover Bond ETF

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Return for Risk

XHB.TO vs. DXO.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: 6363
Overall Rank
XHB.TO Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
XHB.TO Sortino Ratio Rank: 6969
Sortino Ratio Rank
XHB.TO Omega Ratio Rank: 6666
Omega Ratio Rank
XHB.TO Calmar Ratio Rank: 5959
Calmar Ratio Rank
XHB.TO Martin Ratio Rank: 5757
Martin Ratio Rank
DXO.TO
DXO.TO Risk / Return Rank: 6868
Overall Rank
DXO.TO Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
DXO.TO Sortino Ratio Rank: 6969
Sortino Ratio Rank
DXO.TO Omega Ratio Rank: 7979
Omega Ratio Rank
DXO.TO Calmar Ratio Rank: 5959
Calmar Ratio Rank
DXO.TO Martin Ratio Rank: 7070
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. DXO.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 Dynamic Active Crossover Bond ETF (DXO.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

XHB.TODXO.TODifference
Sharpe ratioReturn per unit of total volatility
1.74
1.71

+0.02

Sortino ratioReturn per unit of downside risk
2.53
2.55

-0.02

Omega ratioGain probability vs. loss probability

1.32

1.37

-0.05

Calmar ratioReturn relative to maximum drawdown

2.37

2.37

0.00

Martin ratioReturn relative to average drawdown

7.92

10.24

-2.32

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

The current XHB.TO Sharpe Ratio is 1.74, which is comparable to the DXO.TO Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of XHB.TO and DXO.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.

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Drawdowns

XHB.TO vs. DXO.TO - Drawdown Comparison

The maximum XHB.TO drawdown since its inception was -26.50%, which is greater than DXO.TO's maximum drawdown of -17.61%. Use the drawdown chart below to compare losses from any high point for XHB.TO and DXO.TO.

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Drawdown Indicators

XHB.TODXO.TODifference

Max Drawdown

Largest peak-to-trough decline

-26.50%

-17.61%

-8.89%

Max Drawdown (1Y)

Largest decline over 1 year

-2.42%

-2.41%

-0.01%

Max Drawdown (3Y)

Largest decline over 3 years

-2.91%

-3.78%

+0.87%

Max Drawdown (5Y)

Largest decline over 5 years

-13.94%

-15.91%

+1.97%

Max Drawdown (10Y)

Largest decline over 10 years

-26.50%

—

—

Current Drawdown

Current decline from peak

-0.50%

-0.51%

+0.01%

Average Drawdown

Average peak-to-trough decline

-2.07%

-2.94%

+0.87%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.72%

0.56%

+0.16%

Volatility

XHB.TO vs. DXO.TO - Volatility Comparison

The current volatility for iShares Canadian HYBrid Corporate Bond Index ETF (XHB.TO) is 0.92%, while Dynamic Active Crossover Bond ETF (DXO.TO) has a volatility of 0.97%. This indicates that XHB.TO experiences smaller price fluctuations and is considered to be less risky than DXO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XHB.TODXO.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.92%

0.97%

-0.05%

Volatility (6M)

Calculated over the trailing 6-month period

2.71%

2.65%

+0.06%

Volatility (1Y)

Calculated over the trailing 1-year period

3.30%

3.34%

-0.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.55%

5.63%

-0.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.03%

7.74%

+3.29%

Dividends

XHB.TO vs. DXO.TO - Dividend Comparison

XHB.TO's dividend yield for the trailing twelve months is around 4.55%, less than DXO.TO's 5.31% yield.

PositionTTM20252024202320222021202020192018201720162015
DXO.TO
Dynamic Active Crossover Bond ETF		5.31%5.55%5.61%5.65%5.29%4.15%4.20%3.96%4.31%2.15%0.00%0.00%
XHB.TO
iShares Canadian HYBrid Corporate Bond Index ETF		4.55%4.48%4.36%4.23%4.24%3.51%3.53%3.81%4.07%4.08%4.35%4.78%

Frequently Asked Questions

XHB.TO and DXO.TO have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: iShares and Dynamic.

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