XHY.TO vs. XSI.TO
XHY.TO (iShares U.S. High Yield Bond Index ETF (CAD-Hedged)) and XSI.TO (iShares Short Term Strategic Fixed Income ETF) are both High Yield Bonds funds from iShares tracking the Morningstar Gbl HY Bd GR CAD. Both are passively managed. Over the past 10 years, XHY.TO returned 3.98%/yr vs 2.23%/yr for XSI.TO. At a 0.38 correlation, their price movements are largely independent. XHY.TO charges 0.56%/yr vs 0.55%/yr for XSI.TO.
Performance
XHY.TO vs. XSI.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XHY.TO achieves a 1.07% return, which is significantly higher than XSI.TO's 0.69% return. Over the past 10 years, XHY.TO has outperformed XSI.TO with an annualized return of 3.98%, while XSI.TO has yielded a comparatively lower 2.23% annualized return.
XHY.TO
- 1D
- 0.12%
- 1M
- 0.33%
- YTD
- 1.07%
- 6M
- 1.09%
- 1Y
- 4.66%
- 3Y*
- 7.14%
- 5Y*
- 2.86%
- 10Y*
- 3.98%
XSI.TO
- 1D
- 0.12%
- 1M
- 0.58%
- YTD
- 0.69%
- 6M
- 0.68%
- 1Y
- 3.10%
- 3Y*
- 4.98%
- 5Y*
- 1.66%
- 10Y*
- 2.23%
XHY.TO vs. XSI.TO - 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) | 1.07% | 6.33% | 7.05% | 11.06% | -11.10% | 3.51% | 2.65% | 13.83% | -3.89% | 5.35% |
XSI.TO iShares Short Term Strategic Fixed Income ETF | 0.69% | 3.82% | 5.36% | 7.51% | -8.90% | 0.59% | 3.70% | 7.09% | -1.07% | 2.94% |
Correlation
The correlation between XHY.TO and XSI.TO is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2015 | 0.38 |
XHY.TO vs. XSI.TO - Sectors Allocation Comparison
Sectors
XHY.TO
XSI.TO
Utilities
Real Estate
Basic Materials
-
-
Communication Services
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
-
Financial Services
-
-
Healthcare
-
-
Industrials
-
-
Technology
-
-
Utilities
XHY.TO
XSI.TO
Real Estate
XHY.TO
XSI.TO
Basic Materials
XHY.TO
-
XSI.TO
-
Communication Services
XHY.TO
-
XSI.TO
-
Consumer Cyclical
XHY.TO
-
XSI.TO
-
Consumer Defensive
XHY.TO
-
XSI.TO
-
Energy
XHY.TO
-
XSI.TO
-
Financial Services
XHY.TO
-
XSI.TO
-
Healthcare
XHY.TO
-
XSI.TO
-
Industrials
XHY.TO
-
XSI.TO
-
Technology
XHY.TO
-
XSI.TO
-
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XHY.TO vs. XSI.TO — Risk / Return Rank
XHY.TO
XSI.TO
XHY.TO vs. XSI.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 Short Term Strategic Fixed Income ETF (XSI.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.
| XHY.TO | XSI.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.16 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 1.29 | +0.35 |
| Martin ratioReturn relative to average drawdown | 7.05 | 3.93 | +3.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| XHY.TO | XSI.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.00 | 0.87 | +0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.39 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | 0.39 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.34 | +0.15 |
Drawdowns
XHY.TO vs. XSI.TO - Drawdown Comparison
The maximum XHY.TO drawdown since its inception was -28.48%, which is greater than XSI.TO's maximum drawdown of -18.53%. Use the drawdown chart below to compare losses from any high point for XHY.TO and XSI.TO.
Loading charts...
Drawdown Indicators
| XHY.TO | XSI.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.48% | -18.53% | -9.95% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -2.42% | -0.45% |
Max Drawdown (3Y)Largest decline over 3 years | -4.94% | -2.84% | -2.10% |
Max Drawdown (5Y)Largest decline over 5 years | -16.67% | -12.03% | -4.64% |
Max Drawdown (10Y)Largest decline over 10 years | -28.48% | -18.53% | -9.95% |
Current DrawdownCurrent decline from peak | -0.32% | -0.57% | +0.25% |
Average DrawdownAverage peak-to-trough decline | -2.55% | -2.26% | -0.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.79% | -0.13% |
Volatility
XHY.TO vs. XSI.TO - Volatility Comparison
The current volatility for iShares U.S. High Yield Bond Index ETF (CAD-Hedged) (XHY.TO) is 1.28%, while iShares Short Term Strategic Fixed Income ETF (XSI.TO) has a volatility of 1.38%. This indicates that XHY.TO experiences smaller price fluctuations and is considered to be less risky than XSI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XHY.TO | XSI.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 1.38% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.55% | 2.94% | +0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.68% | 3.58% | +1.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.65% | 4.25% | +4.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.62% | 5.81% | +4.81% |
XHY.TO vs. XSI.TO - Expense Ratio Comparison
XHY.TO has a 0.56% expense ratio, which is higher than XSI.TO's 0.55% expense ratio.
Dividends
XHY.TO vs. XSI.TO - Dividend Comparison
XHY.TO's dividend yield for the trailing twelve months is around 6.11%, more than XSI.TO's 4.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XHY.TO iShares U.S. High Yield Bond Index ETF (CAD-Hedged) | 6.11% | 6.04% | 5.87% | 5.56% | 5.70% | 4.72% | 5.18% | 5.38% | 5.87% | 5.46% | 5.64% | 6.83% |
XSI.TO iShares Short Term Strategic Fixed Income ETF | 4.35% | 4.42% | 4.43% | 4.28% | 3.49% | 2.88% | 3.04% | 3.41% | 3.31% | 3.22% | 3.30% | 3.60% |
Frequently Asked Questions
XHY.TO and XSI.TO have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XSI.TO is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSI.TO is cheaper with a 0.55% expense ratio, compared with 0.56% for XHY.TO.
Both ETFs track Morningstar Gbl HY Bd GR CAD. Their fees differ too: 0.56% for XHY.TO and 0.55% for XSI.TO.
Find the right allocation for XHY.TO and XSI.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer