XHY.TO vs. XSTH.TO
XHY.TO (iShares U.S. High Yield Bond Index ETF (CAD-Hedged)) and XSTH.TO (iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged)) are both exchange-traded funds - XHY.TO is a High Yield Bonds fund tracking the Morningstar Gbl HY Bd GR CAD, while XSTH.TO is a Inflation-Protected Bonds fund tracking the Morningstar Gbl Core Bd GR CAD. Both are passively managed. Over the past 3 years, XHY.TO returned 7.14%/yr vs 3.81%/yr for XSTH.TO. At a 0.24 correlation, their price movements are largely independent. XHY.TO charges 0.56%/yr vs 0.16%/yr for XSTH.TO.
Performance
XHY.TO vs. XSTH.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XHY.TO achieves a 1.07% return, which is significantly lower than XSTH.TO's 1.18% 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%
XSTH.TO
- 1D
- -0.05%
- 1M
- -0.03%
- YTD
- 1.18%
- 6M
- 1.07%
- 1Y
- 2.61%
- 3Y*
- 3.81%
- 5Y*
- —
- 10Y*
- —
XHY.TO vs. XSTH.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XHY.TO iShares U.S. High Yield Bond Index ETF (CAD-Hedged) | 1.07% | 6.33% | 7.05% | 11.06% | -11.10% | 0.44% |
XSTH.TO iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged) | 1.18% | 4.20% | 3.68% | 3.90% | -3.36% | 1.76% |
Correlation
The correlation between XHY.TO and XSTH.TO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jul 15, 2021 | 0.24 |
The correlation between XHY.TO and XSTH.TO shifts across timeframes, from 0.13 (1 year) to 0.25 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
XHY.TO vs. XSTH.TO — Risk / Return Rank
XHY.TO
XSTH.TO
XHY.TO vs. XSTH.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 0-5 Year TIPS Bond Index ETF (CAD-Hedged) (XSTH.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 | XSTH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.26 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 1.75 | -0.12 |
| Martin ratioReturn relative to average drawdown | 7.05 | 7.02 | +0.03 |
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 | XSTH.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.00 | 1.20 | -0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.63 | -0.13 |
Drawdowns
XHY.TO vs. XSTH.TO - Drawdown Comparison
The maximum XHY.TO drawdown since its inception was -28.48%, which is greater than XSTH.TO's maximum drawdown of -5.98%. Use the drawdown chart below to compare losses from any high point for XHY.TO and XSTH.TO.
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Drawdown Indicators
| XHY.TO | XSTH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.48% | -5.98% | -22.50% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -1.49% | -1.38% |
Max Drawdown (3Y)Largest decline over 3 years | -4.94% | -1.49% | -3.45% |
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 | -0.32% | -0.24% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -2.55% | -1.56% | -0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.37% | +0.29% |
Volatility
XHY.TO vs. XSTH.TO - Volatility Comparison
iShares U.S. High Yield Bond Index ETF (CAD-Hedged) (XHY.TO) has a higher volatility of 1.28% compared to iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged) (XSTH.TO) at 0.40%. This indicates that XHY.TO's price experiences larger fluctuations and is considered to be riskier than XSTH.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 | XSTH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 0.40% | +0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 3.55% | 1.52% | +2.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.68% | 2.18% | +2.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.65% | 3.63% | +5.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.62% | 3.63% | +6.99% |
XHY.TO vs. XSTH.TO - Expense Ratio Comparison
XHY.TO has a 0.56% expense ratio, which is higher than XSTH.TO's 0.16% expense ratio.
Dividends
XHY.TO vs. XSTH.TO - Dividend Comparison
XHY.TO's dividend yield for the trailing twelve months is around 6.11%, more than XSTH.TO's 3.56% 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% |
XSTH.TO iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged) | 3.56% | 3.94% | 2.53% | 3.15% | 6.07% | 2.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XHY.TO and XSTH.TO have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XSTH.TO is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSTH.TO is cheaper with a 0.16% expense ratio, compared with 0.56% for XHY.TO.
XHY.TO is categorized as High Yield Bonds, while XSTH.TO is Inflation-Protected Bonds. XHY.TO tracks Morningstar Gbl HY Bd GR CAD, while XSTH.TO tracks Morningstar Gbl Core Bd GR CAD. Their fees differ too: 0.56% for XHY.TO and 0.16% for XSTH.TO.
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