XHB.TO vs. XFR.TO
XHB.TO (iShares Canadian HYBrid Corporate Bond Index ETF) and XFR.TO (iShares Floating Rate Index ETF) are both exchange-traded funds - XHB.TO is a Corporate Bonds fund tracking the Morningstar Can Corp Bd GR CAD, while XFR.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD. Both are passively managed. Over the past 10 years, XHB.TO returned 5.63%/yr vs 2.24%/yr for XFR.TO. At a 0.05 correlation, their price movements are largely independent. XHB.TO charges 0.50%/yr vs 0.14%/yr for XFR.TO.
Performance
XHB.TO vs. XFR.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XHB.TO achieves a 2.17% return, which is significantly higher than XFR.TO's 1.00% return. Over the past 10 years, XHB.TO has outperformed XFR.TO with an annualized return of 5.63%, while XFR.TO has yielded a comparatively lower 2.24% 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%
XFR.TO
- 1D
- -0.05%
- 1M
- 0.21%
- YTD
- 1.00%
- 6M
- 1.33%
- 1Y
- 2.96%
- 3Y*
- 3.98%
- 5Y*
- 3.20%
- 10Y*
- 2.24%
XHB.TO vs. XFR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XHB.TO iShares Canadian HYBrid Corporate Bond Index ETF | 2.17% | 5.34% | 11.53% | 14.52% | -6.53% | 2.10% | 11.03% | 10.73% | 0.59% | 4.49% |
XFR.TO iShares Floating Rate Index ETF | 1.00% | 3.33% | 4.57% | 5.29% | 1.82% | 0.15% | 0.98% | 2.23% | 1.16% | 1.46% |
Correlation
The correlation between XHB.TO and XFR.TO is 0.08, 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 | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2011 | 0.05 |
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Return for Risk
XHB.TO vs. XFR.TO — Risk / Return Rank
XHB.TO
XFR.TO
XHB.TO vs. XFR.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 iShares Floating Rate Index ETF (XFR.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.TO | XFR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.32 | ||
| Sortino ratioReturn per unit of downside risk | -4.36 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.96 | -0.64 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 29.79 | -27.34 |
| Martin ratioReturn relative to average drawdown | 8.07 | 88.61 | -80.54 |
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
| XHB.TO | XFR.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.80 | 4.12 | -2.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.02 | 3.92 | -2.90 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 1.22 | -0.70 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 1.19 | -0.60 |
Drawdowns
XHB.TO vs. XFR.TO - Drawdown Comparison
The maximum XHB.TO drawdown since its inception was -26.03%, which is greater than XFR.TO's maximum drawdown of -4.12%. Use the drawdown chart below to compare losses from any high point for XHB.TO and XFR.TO.
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Drawdown Indicators
| XHB.TO | XFR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.03% | -4.12% | -21.91% |
Max Drawdown (1Y)Largest decline over 1 year | -2.42% | -0.10% | -2.32% |
Max Drawdown (3Y)Largest decline over 3 years | -2.42% | -0.30% | -2.12% |
Max Drawdown (5Y)Largest decline over 5 years | -11.83% | -0.30% | -11.53% |
Max Drawdown (10Y)Largest decline over 10 years | -26.03% | -4.12% | -21.91% |
Current DrawdownCurrent decline from peak | 0.00% | -0.05% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -1.59% | -0.06% | -1.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.03% | +0.70% |
Volatility
XHB.TO vs. XFR.TO - Volatility Comparison
iShares Canadian HYBrid Corporate Bond Index ETF (XHB.TO) has a higher volatility of 1.17% compared to iShares Floating Rate Index ETF (XFR.TO) at 0.18%. This indicates that XHB.TO's price experiences larger fluctuations and is considered to be riskier than XFR.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 | XFR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 0.18% | +0.99% |
Volatility (6M)Calculated over the trailing 6-month period | 2.62% | 0.48% | +2.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.32% | 0.72% | +2.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.61% | 0.82% | +4.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.05% | 1.85% | +9.20% |
XHB.TO vs. XFR.TO - Expense Ratio Comparison
XHB.TO has a 0.50% expense ratio, which is higher than XFR.TO's 0.14% expense ratio.
Dividends
XHB.TO vs. XFR.TO - Dividend Comparison
XHB.TO's dividend yield for the trailing twelve months is around 4.52%, more than XFR.TO's 2.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XFR.TO iShares Floating Rate Index ETF | 2.77% | 3.23% | 4.93% | 4.91% | 1.85% | 0.30% | 1.07% | 1.96% | 1.60% | 0.95% | 0.77% | 0.94% |
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 XFR.TO have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XFR.TO is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XFR.TO is cheaper with a 0.14% expense ratio, compared with 0.50% for XHB.TO.
XHB.TO is categorized as Corporate Bonds, while XFR.TO is Canadian Government Bonds. XHB.TO tracks Morningstar Can Corp Bd GR CAD, while XFR.TO tracks Morningstar Can 1-5Y Core Bd GR CAD. Their fees differ too: 0.50% for XHB.TO and 0.14% for XFR.TO.
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