XHY.TO vs. XFLI.TO
XHY.TO (iShares U.S. High Yield Bond Index ETF (CAD-Hedged)) and XFLI.TO (iShares Flexible Monthly Income ETF CAD) are both High Yield Bonds funds from iShares. XHY.TO is passively managed, while XFLI.TO is actively managed. Over the past year, XHY.TO returned 3.48% vs 6.40% for XFLI.TO. At a 0.09 correlation, their price movements are largely independent.
Performance
XHY.TO vs. XFLI.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XHY.TO achieves a 1.09% return, which is significantly lower than XFLI.TO's 3.03% return.
XHY.TO
- 1D
- -0.06%
- 1M
- 0.39%
- 6M
- 0.19%
- YTD
- 1.09%
- 1Y
- 3.48%
- 3Y*
- 6.75%
- 5Y*
- 2.77%
- 10Y*
- 3.71%
XFLI.TO
- 1D
- -0.30%
- 1M
- -0.67%
- 6M
- 1.29%
- YTD
- 3.03%
- 1Y
- 6.40%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XHY.TO vs. XFLI.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XHY.TO iShares U.S. High Yield Bond Index ETF (CAD-Hedged) | 1.09% | 6.33% | -0.19% |
XFLI.TO iShares Flexible Monthly Income ETF CAD | 3.03% | 2.07% | 6.23% |
Correlation
The correlation between XHY.TO and XFLI.TO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2024 | 0.09 |
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Return for Risk
XHY.TO vs. XFLI.TO — Risk / Return Rank
XHY.TO
XFLI.TO
XHY.TO vs. XFLI.TO - 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 iShares Flexible Monthly Income ETF CAD (XFLI.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.
| XHY.TO | XFLI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.23 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.22 | 1.55 | -0.33 |
| Martin ratioReturn relative to average drawdown | 5.23 | 3.30 | +1.93 |
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Drawdowns
XHY.TO vs. XFLI.TO - Drawdown Comparison
The maximum XHY.TO drawdown since its inception was -28.48%, which is greater than XFLI.TO's maximum drawdown of -6.92%. Use the drawdown chart below to compare losses from any high point for XHY.TO and XFLI.TO.
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Drawdown Indicators
| XHY.TO | XFLI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.48% | -6.92% | -21.56% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -4.15% | +1.28% |
Max Drawdown (3Y)Largest decline over 3 years | -4.94% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -16.67% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -28.48% | — | — |
Current DrawdownCurrent decline from peak | -0.43% | -2.23% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -2.53% | -2.05% | -0.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 1.95% | -1.28% |
Volatility
XHY.TO vs. XFLI.TO - Volatility Comparison
The current volatility for iShares U.S. High Yield Bond Index ETF (CAD-Hedged) (XHY.TO) is 1.19%, while iShares Flexible Monthly Income ETF CAD (XFLI.TO) has a volatility of 2.20%. This indicates that XHY.TO experiences smaller price fluctuations and is considered to be less risky than XFLI.TO 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 | XFLI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 2.20% | -1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.69% | 4.50% | -0.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.57% | 5.61% | -1.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.64% | 6.33% | +2.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.58% | 6.33% | +4.25% |
Dividends
XHY.TO vs. XFLI.TO - Dividend Comparison
XHY.TO's dividend yield for the trailing twelve months is around 6.13%, more than XFLI.TO's 5.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XFLI.TO iShares Flexible Monthly Income ETF CAD | 5.45% | 5.69% | 2.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XHY.TO iShares U.S. High Yield Bond Index ETF (CAD-Hedged) | 6.13% | 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 XFLI.TO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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