XLB.TO vs. XIC.TO
XLB.TO (iShares Core Canadian Long Term Bond Index ETF) and XIC.TO (iShares Core S&P/TSX Capped Composite Index 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 XIC.TO is a Canada Equities fund tracking the S&P/TSX Capped Composite Index. Both are passively managed. Over the past 10 years, XLB.TO returned 4.56%/yr vs 12.48%/yr for XIC.TO. At a correlation of -0.09, they often move in opposite directions. XLB.TO charges 0.20%/yr vs 0.06%/yr for XIC.TO.
Performance
XLB.TO vs. XIC.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XLB.TO achieves a 2.77% return, which is significantly lower than XIC.TO's 10.75% return. Over the past 10 years, XLB.TO has underperformed XIC.TO with an annualized return of 4.56%, while XIC.TO has yielded a comparatively higher 12.48% annualized return.
XLB.TO
- 1D
- -0.11%
- 1M
- 3.02%
- YTD
- 2.77%
- 6M
- 0.93%
- 1Y
- 2.84%
- 3Y*
- 8.16%
- 5Y*
- 4.63%
- 10Y*
- 4.56%
XIC.TO
- 1D
- -1.05%
- 1M
- 3.59%
- YTD
- 10.75%
- 6M
- 12.90%
- 1Y
- 34.79%
- 3Y*
- 23.62%
- 5Y*
- 14.60%
- 10Y*
- 12.48%
XLB.TO vs. XIC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XLB.TO iShares Core Canadian Long Term Bond Index ETF | 2.77% | -0.76% | 9.49% | 19.21% | -14.38% | 1.26% | 16.52% | 12.85% | -0.25% | 7.11% |
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF | 10.75% | 31.51% | 21.48% | 11.73% | -5.82% | 23.42% | 5.61% | 22.76% | -8.72% | 8.99% |
Correlation
The correlation between XLB.TO and XIC.TO 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 | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2006 | -0.09 |
The correlation between XLB.TO and XIC.TO shifts across timeframes, from -0.09 (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. XIC.TO — Risk / Return Rank
XLB.TO
XIC.TO
XLB.TO vs. XIC.TO - 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/TSX Capped Composite Index ETF (XIC.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.
| XLB.TO | XIC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.40 | ||
| Sortino ratioReturn per unit of downside risk | -3.03 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.50 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | 0.59 | 3.76 | -3.18 |
| Martin ratioReturn relative to average drawdown | 1.11 | 17.44 | -16.33 |
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
| XLB.TO | XIC.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.36 | 2.76 | -2.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 1.12 | -0.75 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.84 | -0.45 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.54 | +0.01 |
Drawdowns
XLB.TO vs. XIC.TO - Drawdown Comparison
The maximum XLB.TO drawdown since its inception was -24.34%, smaller than the maximum XIC.TO drawdown of -48.21%. Use the drawdown chart below to compare losses from any high point for XLB.TO and XIC.TO.
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Drawdown Indicators
| XLB.TO | XIC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.34% | -48.21% | +23.87% |
Max Drawdown (1Y)Largest decline over 1 year | -4.85% | -9.29% | +4.44% |
Max Drawdown (3Y)Largest decline over 3 years | -9.74% | -12.27% | +2.53% |
Max Drawdown (5Y)Largest decline over 5 years | -24.34% | -16.24% | -8.10% |
Max Drawdown (10Y)Largest decline over 10 years | -24.34% | -37.21% | +12.87% |
Current DrawdownCurrent decline from peak | -2.17% | -1.05% | -1.12% |
Average DrawdownAverage peak-to-trough decline | -4.05% | -7.04% | +2.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 2.00% | +0.57% |
Volatility
XLB.TO vs. XIC.TO - Volatility Comparison
The current volatility for iShares Core Canadian Long Term Bond Index ETF (XLB.TO) is 2.77%, while iShares Core S&P/TSX Capped Composite Index ETF (XIC.TO) has a volatility of 3.48%. This indicates that XLB.TO experiences smaller price fluctuations and is considered to be less risky than XIC.TO 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 | XIC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.77% | 3.48% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 5.77% | 10.33% | -4.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.93% | 12.67% | -4.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.68% | 13.13% | -0.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.86% | 14.96% | -3.10% |
XLB.TO vs. XIC.TO - Expense Ratio Comparison
XLB.TO has a 0.20% expense ratio, which is higher than XIC.TO'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. XIC.TO - Dividend Comparison
XLB.TO's dividend yield for the trailing twelve months is around 4.01%, more than XIC.TO's 2.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XIC.TO iShares Core S&P/TSX Capped Composite Index ETF | 2.02% | 2.23% | 2.64% | 2.95% | 3.10% | 2.44% | 3.03% | 3.01% | 3.19% | 2.49% | 2.72% | 3.21% |
XLB.TO iShares Core Canadian Long Term Bond Index ETF | 4.01% | 4.05% | 12.10% | 12.22% | 13.13% | 8.82% | 7.43% | 3.18% | 3.56% | 3.45% | 3.62% | 3.64% |
Frequently Asked Questions
XLB.TO and XIC.TO 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, XIC.TO is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XIC.TO is cheaper with a 0.06% expense ratio, compared with 0.20% for XLB.TO.
XLB.TO is categorized as Canadian Government Bonds, while XIC.TO is Canada Equities. XLB.TO tracks Morningstar Can 10+Y Core Bd GR CAD, while XIC.TO tracks S&P/TSX Capped Composite Index. Their fees differ too: 0.20% for XLB.TO and 0.06% for XIC.TO.
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