XHY.TO vs. FLTR
XHY.TO (iShares U.S. High Yield Bond Index ETF (CAD-Hedged)) and FLTR (VanEck Vectors Investment Grade Floating Rate ETF) are both exchange-traded funds - XHY.TO is a High Yield Bonds fund tracking the Morningstar Gbl HY Bd GR CAD, while FLTR is a Corporate Bonds fund tracking the MVIS US Investment Grade Floating Rate Index. Both are passively managed. Over the past 10 years, XHY.TO returned 4.01%/yr vs 4.26%/yr for FLTR. At a correlation of -0.30, they often move in opposite directions. XHY.TO charges 0.56%/yr vs 0.14%/yr for FLTR.
Performance
XHY.TO vs. FLTR - Performance Comparison
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Different Trading Currencies
XHY.TO is traded in CAD, while FLTR is traded in USD. To make them comparable, the FLTR values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XHY.TO achieves a 0.95% return, which is significantly lower than FLTR's 3.21% return. Over the past 10 years, XHY.TO has underperformed FLTR with an annualized return of 4.01%, while FLTR has yielded a comparatively higher 4.26% annualized return.
XHY.TO
- 1D
- -0.12%
- 1M
- 0.39%
- YTD
- 0.95%
- 6M
- 1.09%
- 1Y
- 4.79%
- 3Y*
- 7.03%
- 5Y*
- 2.84%
- 10Y*
- 4.01%
FLTR
- 1D
- 0.37%
- 1M
- 2.46%
- YTD
- 3.21%
- 6M
- 2.00%
- 1Y
- 6.66%
- 3Y*
- 7.34%
- 5Y*
- 7.47%
- 10Y*
- 4.26%
XHY.TO vs. FLTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XHY.TO iShares U.S. High Yield Bond Index ETF (CAD-Hedged) | 0.95% | 6.33% | 7.05% | 11.06% | -11.10% | 3.51% | 2.65% | 13.83% | -3.89% | 5.35% |
FLTR VanEck Vectors Investment Grade Floating Rate ETF | 3.21% | 0.40% | 16.60% | 5.05% | 7.92% | -0.36% | -0.27% | 0.50% | 8.80% | -3.74% |
Correlation
The correlation between XHY.TO and FLTR is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.28 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2011 | -0.30 |
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Return for Risk
XHY.TO vs. FLTR — Risk / Return Rank
XHY.TO
FLTR
XHY.TO vs. FLTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. High Yield Bond Index ETF (CAD-Hedged) (XHY.TO) and VanEck Vectors Investment Grade Floating Rate ETF (FLTR). 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.
| XHY.TO | FLTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.26 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 1.92 | -0.25 |
| Martin ratioReturn relative to average drawdown | 7.24 | 5.63 | +1.61 |
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
| XHY.TO | FLTR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.03 | 1.44 | -0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 1.16 | -0.83 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | 0.55 | -0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.62 | -0.12 |
Drawdowns
XHY.TO vs. FLTR - Drawdown Comparison
The maximum XHY.TO drawdown since its inception was -28.48%, which is greater than FLTR's maximum drawdown of -13.87%. Use the drawdown chart below to compare losses from any high point for XHY.TO and FLTR.
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Drawdown Indicators
| XHY.TO | FLTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.48% | -13.87% | -14.61% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -3.48% | +0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -4.94% | -5.35% | +0.41% |
Max Drawdown (5Y)Largest decline over 5 years | -16.67% | -5.35% | -11.32% |
Max Drawdown (10Y)Largest decline over 10 years | -28.48% | -11.66% | -16.82% |
Current DrawdownCurrent decline from peak | -0.44% | 0.00% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -2.55% | -3.48% | +0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 1.19% | -0.53% |
Volatility
XHY.TO vs. FLTR - Volatility Comparison
iShares U.S. High Yield Bond Index ETF (CAD-Hedged) (XHY.TO) has a higher volatility of 1.29% compared to VanEck Vectors Investment Grade Floating Rate ETF (FLTR) at 0.88%. This indicates that XHY.TO's price experiences larger fluctuations and is considered to be riskier than FLTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XHY.TO | FLTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 0.88% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 3.56% | 3.44% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.69% | 4.63% | +0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.65% | 6.47% | +2.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.63% | 7.79% | +2.84% |
XHY.TO vs. FLTR - Expense Ratio Comparison
XHY.TO has a 0.56% expense ratio, which is higher than FLTR's 0.14% expense ratio.
Dividends
XHY.TO vs. FLTR - Dividend Comparison
XHY.TO's dividend yield for the trailing twelve months is around 6.12%, more than FLTR's 4.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLTR VanEck Vectors Investment Grade Floating Rate ETF | 4.73% | 4.97% | 5.93% | 6.07% | 2.29% | 0.63% | 1.49% | 3.05% | 2.67% | 1.69% | 1.16% | 0.71% |
XHY.TO iShares U.S. High Yield Bond Index ETF (CAD-Hedged) | 6.12% | 6.04% | 5.87% | 5.56% | 5.70% | 4.72% | 5.18% | 5.38% | 5.87% | 5.46% | 5.64% | 6.83% |
Frequently Asked Questions
XHY.TO and FLTR have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLTR is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLTR is cheaper with a 0.14% expense ratio, compared with 0.56% for XHY.TO.
XHY.TO is categorized as High Yield Bonds, while FLTR is Corporate Bonds. XHY.TO tracks Morningstar Gbl HY Bd GR CAD, while FLTR tracks MVIS US Investment Grade Floating Rate Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.56% for XHY.TO and 0.14% for FLTR.
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