XHB.TO vs. FLOT
XHB.TO (iShares Canadian HYBrid Corporate Bond Index ETF) and FLOT (iShares Floating Rate Bond ETF) are both exchange-traded funds - XHB.TO is a Corporate Bonds fund tracking the Morningstar Can Corp Bd GR CAD, while FLOT is a Ultrashort Bond fund tracking the Bloomberg US Floating Rate Note < 5 Years Index. Both are passively managed. Over the past 10 years, XHB.TO returned 3.93%/yr vs 4.10%/yr for FLOT. At a correlation of -0.00, they often move in opposite directions. XHB.TO charges 0.50%/yr vs 0.15%/yr for FLOT.
Performance
XHB.TO vs. FLOT - Performance Comparison
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Different Trading Currencies
XHB.TO is traded in CAD, while FLOT is traded in USD. To make them comparable, the FLOT values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XHB.TO achieves a 2.43% return, which is significantly lower than FLOT's 5.88% return. Both investments have delivered pretty close results over the past 10 years, with XHB.TO having a 3.93% annualized return and FLOT not far ahead at 4.10%.
XHB.TO
- 1D
- 0.40%
- 1M
- 0.65%
- YTD
- 2.43%
- 6M
- 2.25%
- 1Y
- 5.48%
- 3Y*
- 7.48%
- 5Y*
- 3.15%
- 10Y*
- 3.93%
FLOT
- 1D
- 0.40%
- 1M
- 3.51%
- YTD
- 5.88%
- 6M
- 6.05%
- 1Y
- 8.43%
- 3Y*
- 8.38%
- 5Y*
- 7.24%
- 10Y*
- 4.10%
XHB.TO vs. FLOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XHB.TO iShares Canadian HYBrid Corporate Bond Index ETF | 2.43% | 5.34% | 8.02% | 10.06% | -9.67% | 0.02% | 8.71% | 8.59% | 0.59% | 4.49% |
FLOT iShares Floating Rate Bond ETF | 5.88% | 0.12% | 15.55% | 3.90% | 7.70% | 0.40% | -1.52% | -0.32% | 10.02% | -5.24% |
Correlation
The correlation between XHB.TO and FLOT is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2011 | -0.00 |
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Return for Risk
XHB.TO vs. FLOT — Risk / Return Rank
XHB.TO
FLOT
XHB.TO vs. FLOT - 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 iShares Floating Rate Bond ETF (FLOT). 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.TO | FLOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.35 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.27 | 2.33 | -0.06 |
| Martin ratioReturn relative to average drawdown | 7.51 | 6.46 | +1.05 |
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Drawdowns
XHB.TO vs. FLOT - Drawdown Comparison
The maximum XHB.TO drawdown since its inception was -26.50%, which is greater than FLOT's maximum drawdown of -14.45%. Use the drawdown chart below to compare losses from any high point for XHB.TO and FLOT.
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Drawdown Indicators
| XHB.TO | FLOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.50% | -14.45% | -12.05% |
Max Drawdown (1Y)Largest decline over 1 year | -2.42% | -3.63% | +1.21% |
Max Drawdown (3Y)Largest decline over 3 years | -3.18% | -6.25% | +3.07% |
Max Drawdown (5Y)Largest decline over 5 years | -13.94% | -6.25% | -7.69% |
Max Drawdown (10Y)Largest decline over 10 years | -26.50% | -12.88% | -13.62% |
Current DrawdownCurrent decline from peak | -0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.08% | -3.95% | +1.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 1.31% | -0.58% |
Volatility
XHB.TO vs. FLOT - Volatility Comparison
The current volatility for iShares Canadian HYBrid Corporate Bond Index ETF (XHB.TO) is 0.94%, while iShares Floating Rate Bond ETF (FLOT) has a volatility of 1.18%. This indicates that XHB.TO experiences smaller price fluctuations and is considered to be less risky than FLOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XHB.TO | FLOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 1.18% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 2.66% | 3.40% | -0.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.31% | 4.47% | -1.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.54% | 6.65% | -1.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.03% | 7.83% | +3.20% |
XHB.TO vs. FLOT - Expense Ratio Comparison
XHB.TO has a 0.50% expense ratio, which is higher than FLOT's 0.15% expense ratio.
Dividends
XHB.TO vs. FLOT - Dividend Comparison
XHB.TO's dividend yield for the trailing twelve months is around 4.51%, which matches FLOT's 4.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLOT iShares Floating Rate Bond ETF | 4.53% | 4.84% | 5.82% | 5.66% | 2.06% | 0.43% | 1.25% | 2.78% | 2.41% | 1.46% | 0.97% | 0.53% |
XHB.TO iShares Canadian HYBrid Corporate Bond Index ETF | 4.51% | 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 FLOT have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLOT is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLOT is cheaper with a 0.15% expense ratio, compared with 0.50% for XHB.TO.
XHB.TO is categorized as Corporate Bonds, while FLOT is Ultrashort Bond. XHB.TO tracks Morningstar Can Corp Bd GR CAD, while FLOT tracks Bloomberg US Floating Rate Note < 5 Years Index. Their fees differ too: 0.50% for XHB.TO and 0.15% for FLOT.
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