XHB.TO vs. PSB.TO
XHB.TO (iShares Canadian HYBrid Corporate Bond Index ETF) and PSB.TO (Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF) are both Corporate Bonds funds - XHB.TO tracks the Morningstar Can Corp Bd GR CAD while PSB.TO tracks the FTSE Canada Investment Grade 1-5 Year Laddered Corporate Bond Index. Both are passively managed. Over the past 10 years, XHB.TO returned 3.76%/yr vs 2.71%/yr for PSB.TO. At a 0.40 correlation, their price movements are largely independent. XHB.TO charges 0.50%/yr vs 0.28%/yr for PSB.TO.
Performance
XHB.TO vs. PSB.TO - Performance Comparison
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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 PSB.TO's 1.60% return. Over the past 10 years, XHB.TO has outperformed PSB.TO with an annualized return of 3.76%, while PSB.TO has yielded a comparatively lower 2.71% annualized 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%
PSB.TO
- 1D
- 0.11%
- 1M
- -0.01%
- 6M
- 1.04%
- YTD
- 1.60%
- 1Y
- 4.40%
- 3Y*
- 6.06%
- 5Y*
- 2.95%
- 10Y*
- 2.71%
XHB.TO vs. PSB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 4.49% |
PSB.TO Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF | 1.60% | 4.68% | 7.08% | 6.44% | -3.89% | -0.97% | 6.08% | 4.25% | 1.59% | 0.23% |
Correlation
The correlation between XHB.TO and PSB.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 | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jun 20, 2011 | 0.40 |
The correlation between XHB.TO and PSB.TO shifts across timeframes, from 0.40 (all time) to 0.58 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
XHB.TO vs. PSB.TO — Risk / Return Rank
XHB.TO
PSB.TO
XHB.TO vs. PSB.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 Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB.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.TO | PSB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.29 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.37 | 3.20 | -0.83 |
| Martin ratioReturn relative to average drawdown | 7.92 | 9.77 | -1.85 |
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Drawdowns
XHB.TO vs. PSB.TO - Drawdown Comparison
The maximum XHB.TO drawdown since its inception was -26.50%, which is greater than PSB.TO's maximum drawdown of -13.24%. Use the drawdown chart below to compare losses from any high point for XHB.TO and PSB.TO.
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Drawdown Indicators
| XHB.TO | PSB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.50% | -13.24% | -13.26% |
Max Drawdown (1Y)Largest decline over 1 year | -2.42% | -1.38% | -1.04% |
Max Drawdown (3Y)Largest decline over 3 years | -2.91% | -1.89% | -1.02% |
Max Drawdown (5Y)Largest decline over 5 years | -13.94% | -7.93% | -6.01% |
Max Drawdown (10Y)Largest decline over 10 years | -26.50% | -13.24% | -13.26% |
Current DrawdownCurrent decline from peak | -0.50% | -0.17% | -0.33% |
Average DrawdownAverage peak-to-trough decline | -2.07% | -1.00% | -1.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.72% | 0.45% | +0.27% |
Volatility
XHB.TO vs. PSB.TO - Volatility Comparison
iShares Canadian HYBrid Corporate Bond Index ETF (XHB.TO) has a higher volatility of 0.92% compared to Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (PSB.TO) at 0.67%. This indicates that XHB.TO's price experiences larger fluctuations and is considered to be riskier than PSB.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.TO | PSB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 0.67% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 2.71% | 1.96% | +0.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.30% | 2.76% | +0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.55% | 3.32% | +2.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.03% | 4.85% | +6.18% |
XHB.TO vs. PSB.TO - Expense Ratio Comparison
XHB.TO has a 0.50% expense ratio, which is higher than PSB.TO's 0.28% expense ratio.
Dividends
XHB.TO vs. PSB.TO - Dividend Comparison
XHB.TO's dividend yield for the trailing twelve months is around 4.55%, more than PSB.TO's 3.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSB.TO Invesco 1-5 Year Laddered Investment Grade Corporate Bond Index ETF | 3.20% | 3.18% | 3.12% | 3.09% | 3.13% | 2.91% | 2.74% | 3.00% | 3.37% | 3.61% | 4.01% | 4.04% |
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 PSB.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.
On fees, PSB.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PSB.TO is cheaper with a 0.28% expense ratio, compared with 0.50% for XHB.TO.
XHB.TO tracks Morningstar Can Corp Bd GR CAD, while PSB.TO tracks FTSE Canada Investment Grade 1-5 Year Laddered Corporate Bond Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.50% for XHB.TO and 0.28% for PSB.TO.
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