XHB.TO vs. ZBBB.TO
XHB.TO (iShares Canadian HYBrid Corporate Bond Index ETF) and ZBBB.TO (BMO BBB Corporate Bond Index ETF) are both Corporate Bonds funds - XHB.TO tracks the Morningstar Can Corp Bd GR CAD while ZBBB.TO tracks the FTSE Canada 1-10 Year BBB Corporate Bond Index. Both are passively managed. Over the past 5 years, XHB.TO returned 5.68%/yr vs 2.85%/yr for ZBBB.TO. At a 0.30 correlation, their price movements are largely independent. XHB.TO charges 0.50%/yr vs 0.17%/yr for ZBBB.TO.
Performance
XHB.TO vs. ZBBB.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 ZBBB.TO's 1.60% 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%
ZBBB.TO
- 1D
- 0.00%
- 1M
- 1.32%
- YTD
- 1.60%
- 6M
- 1.43%
- 1Y
- 4.54%
- 3Y*
- 6.46%
- 5Y*
- 2.85%
- 10Y*
- —
XHB.TO vs. ZBBB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XHB.TO iShares Canadian HYBrid Corporate Bond Index ETF | 2.17% | 5.34% | 11.53% | 14.52% | -6.53% | 2.10% | 8.45% |
ZBBB.TO BMO BBB Corporate Bond Index ETF | 1.60% | 4.73% | 8.00% | 5.61% | -5.28% | -1.12% | 6.72% |
Correlation
The correlation between XHB.TO and ZBBB.TO is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2020 | 0.30 |
Over the past year, XHB.TO and ZBBB.TO have become more correlated (0.57) than their long-term average of 0.30, meaning their price movements have been converging.
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Return for Risk
XHB.TO vs. ZBBB.TO — Risk / Return Rank
XHB.TO
ZBBB.TO
XHB.TO vs. ZBBB.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 BMO BBB Corporate Bond Index ETF (ZBBB.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 | ZBBB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.33 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 2.39 | +0.06 |
| Martin ratioReturn relative to average drawdown | 8.07 | 6.43 | +1.64 |
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 | ZBBB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.80 | 1.46 | +0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.02 | 0.65 | +0.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.54 | +0.05 |
Drawdowns
XHB.TO vs. ZBBB.TO - Drawdown Comparison
The maximum XHB.TO drawdown since its inception was -26.03%, which is greater than ZBBB.TO's maximum drawdown of -11.55%. Use the drawdown chart below to compare losses from any high point for XHB.TO and ZBBB.TO.
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Drawdown Indicators
| XHB.TO | ZBBB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.03% | -11.55% | -14.48% |
Max Drawdown (1Y)Largest decline over 1 year | -2.42% | -1.91% | -0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -2.42% | -1.91% | -0.51% |
Max Drawdown (5Y)Largest decline over 5 years | -11.83% | -11.23% | -0.60% |
Max Drawdown (10Y)Largest decline over 10 years | -26.03% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.02% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -1.59% | -2.93% | +1.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.71% | +0.02% |
Volatility
XHB.TO vs. ZBBB.TO - Volatility Comparison
iShares Canadian HYBrid Corporate Bond Index ETF (XHB.TO) has a higher volatility of 1.17% compared to BMO BBB Corporate Bond Index ETF (ZBBB.TO) at 1.01%. This indicates that XHB.TO's price experiences larger fluctuations and is considered to be riskier than ZBBB.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 | ZBBB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 1.01% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 2.62% | 2.06% | +0.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.32% | 3.13% | +0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.61% | 4.39% | +1.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.05% | 5.81% | +5.24% |
XHB.TO vs. ZBBB.TO - Expense Ratio Comparison
XHB.TO has a 0.50% expense ratio, which is higher than ZBBB.TO's 0.17% expense ratio.
Dividends
XHB.TO vs. ZBBB.TO - Dividend Comparison
XHB.TO's dividend yield for the trailing twelve months is around 4.52%, more than ZBBB.TO's 4.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ZBBB.TO BMO BBB Corporate Bond Index ETF | 4.19% | 4.12% | 3.72% | 3.47% | 3.54% | 3.23% | 3.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XHB.TO and ZBBB.TO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZBBB.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZBBB.TO is cheaper with a 0.17% expense ratio, compared with 0.50% for XHB.TO.
XHB.TO tracks Morningstar Can Corp Bd GR CAD, while ZBBB.TO tracks FTSE Canada 1-10 Year BBB Corporate Bond Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.50% for XHB.TO and 0.17% for ZBBB.TO.
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