XLB.TO vs. IJR
XLB.TO (iShares Core Canadian Long Term Bond Index ETF) and IJR (iShares Core S&P Small-Cap ETF) are both exchange-traded funds - XLB.TO is a Canadian Government Bonds fund tracking the Morningstar Can 10+Y Core Bd GR CAD, while IJR is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index. Both are passively managed. Over the past 10 years, XLB.TO returned 0.73%/yr vs 12.12%/yr for IJR. At a correlation of -0.13, they often move in opposite directions. XLB.TO charges 0.20%/yr vs 0.06%/yr for IJR.
Performance
XLB.TO vs. IJR - Performance Comparison
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Different Trading Currencies
XLB.TO is traded in CAD, while IJR is traded in USD. To make them comparable, the IJR values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XLB.TO achieves a 2.39% return, which is significantly lower than IJR's 22.29% return. Over the past 10 years, XLB.TO has underperformed IJR with an annualized return of 0.73%, while IJR has yielded a comparatively higher 12.12% annualized return.
XLB.TO
- 1D
- -0.11%
- 1M
- 1.92%
- YTD
- 2.39%
- 6M
- 2.94%
- 1Y
- 3.38%
- 3Y*
- 3.43%
- 5Y*
- -1.77%
- 10Y*
- 0.73%
IJR
- 1D
- 1.26%
- 1M
- 8.45%
- YTD
- 22.29%
- 6M
- 18.26%
- 1Y
- 37.51%
- 3Y*
- 16.51%
- 5Y*
- 9.39%
- 10Y*
- 12.12%
XLB.TO vs. IJR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XLB.TO iShares Core Canadian Long Term Bond Index ETF | 2.39% | -0.76% | 0.71% | 9.15% | -21.64% | -4.59% | 11.18% | 12.85% | -0.25% | 7.11% |
IJR iShares Core S&P Small-Cap ETF | 22.29% | 1.06% | 17.82% | 13.30% | -10.89% | 26.52% | 8.64% | 17.76% | -0.82% | 5.49% |
Correlation
The correlation between XLB.TO and IJR is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2006 | -0.13 |
The correlation between XLB.TO and IJR shifts across timeframes, from -0.13 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XLB.TO vs. IJR — Risk / Return Rank
XLB.TO
IJR
XLB.TO vs. IJR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Canadian Long Term Bond Index ETF (XLB.TO) and iShares Core S&P Small-Cap ETF (IJR). 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.
| XLB.TO | IJR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.62 | ||
| Sortino ratioReturn per unit of downside risk | -2.32 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.34 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.70 | 4.46 | -3.76 |
| Martin ratioReturn relative to average drawdown | 1.34 | 15.00 | -13.67 |
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Drawdowns
XLB.TO vs. IJR - Drawdown Comparison
The maximum XLB.TO drawdown since its inception was -32.97%, smaller than the maximum IJR drawdown of -51.00%. Use the drawdown chart below to compare losses from any high point for XLB.TO and IJR.
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Drawdown Indicators
| XLB.TO | IJR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.97% | -51.00% | +18.03% |
Max Drawdown (1Y)Largest decline over 1 year | -4.85% | -8.46% | +3.61% |
Max Drawdown (3Y)Largest decline over 3 years | -11.66% | -26.60% | +14.94% |
Max Drawdown (5Y)Largest decline over 5 years | -27.81% | -26.60% | -1.21% |
Max Drawdown (10Y)Largest decline over 10 years | -32.97% | -38.61% | +5.64% |
Current DrawdownCurrent decline from peak | -18.72% | 0.00% | -18.72% |
Average DrawdownAverage peak-to-trough decline | -7.72% | -9.29% | +1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 2.52% | +0.01% |
Volatility
XLB.TO vs. IJR - Volatility Comparison
The current volatility for iShares Core Canadian Long Term Bond Index ETF (XLB.TO) is 2.89%, while iShares Core S&P Small-Cap ETF (IJR) has a volatility of 5.51%. This indicates that XLB.TO experiences smaller price fluctuations and is considered to be less risky than IJR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XLB.TO | IJR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.89% | 5.51% | -2.62% |
Volatility (6M)Calculated over the trailing 6-month period | 5.76% | 12.61% | -6.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.00% | 18.45% | -10.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.36% | 22.20% | -9.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.67% | 23.67% | -12.00% |
XLB.TO vs. IJR - Expense Ratio Comparison
XLB.TO has a 0.20% expense ratio, which is higher than IJR's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XLB.TO vs. IJR - Dividend Comparison
XLB.TO's dividend yield for the trailing twelve months is around 4.02%, more than IJR's 1.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IJR iShares Core S&P Small-Cap ETF | 1.11% | 1.44% | 2.05% | 1.31% | 1.41% | 1.53% | 1.11% | 1.44% | 1.58% | 1.20% | 1.22% | 1.48% |
XLB.TO iShares Core Canadian Long Term Bond Index ETF | 4.02% | 4.05% | 3.82% | 3.73% | 3.97% | 3.03% | 2.90% | 3.18% | 3.56% | 3.45% | 3.62% | 3.64% |
Frequently Asked Questions
XLB.TO and IJR have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IJR is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IJR is cheaper with a 0.06% expense ratio, compared with 0.20% for XLB.TO.
XLB.TO is categorized as Canadian Government Bonds, while IJR is Small Cap Blend Equities. XLB.TO tracks Morningstar Can 10+Y Core Bd GR CAD, while IJR tracks S&P SmallCap 600 Index. Their fees differ too: 0.20% for XLB.TO and 0.06% for IJR.
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