XLB.TO vs. XQQ.TO
XLB.TO (iShares Core Canadian Long Term Bond Index ETF) and XQQ.TO (iShares NASDAQ 100 Index ETF (CAD-Hedged)) are both exchange-traded funds - XLB.TO is a Canadian Government Bonds fund tracking the Morningstar Can 10+Y Core Bd GR CAD, while XQQ.TO is a Nasdaq-100 fund tracking the Morningstar US Market TR CAD. Both are passively managed. Over the past 10 years, XLB.TO returned 4.56%/yr vs 19.70%/yr for XQQ.TO. At a correlation of -0.07, they often move in opposite directions. XLB.TO charges 0.20%/yr vs 0.39%/yr for XQQ.TO.
Performance
XLB.TO vs. XQQ.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 XQQ.TO's 19.81% return. Over the past 10 years, XLB.TO has underperformed XQQ.TO with an annualized return of 4.56%, while XQQ.TO has yielded a comparatively higher 19.70% 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%
XQQ.TO
- 1D
- -0.27%
- 1M
- 10.58%
- YTD
- 19.81%
- 6M
- 18.06%
- 1Y
- 38.49%
- 3Y*
- 26.43%
- 5Y*
- 15.31%
- 10Y*
- 19.70%
XLB.TO vs. XQQ.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% |
XQQ.TO iShares NASDAQ 100 Index ETF (CAD-Hedged) | 19.81% | 18.38% | 24.23% | 52.23% | -33.67% | 22.29% | 45.23% | 37.48% | -2.33% | 31.83% |
Correlation
The correlation between XLB.TO and XQQ.TO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since May 11, 2011 | -0.07 |
The correlation between XLB.TO and XQQ.TO shifts across timeframes, from -0.07 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XLB.TO vs. XQQ.TO — Risk / Return Rank
XLB.TO
XQQ.TO
XLB.TO vs. XQQ.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 NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.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 | XQQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.09 | ||
| Sortino ratioReturn per unit of downside risk | -2.67 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.42 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 0.59 | 3.03 | -2.44 |
| Martin ratioReturn relative to average drawdown | 1.11 | 11.31 | -10.20 |
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 | XQQ.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.36 | 2.45 | -2.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.68 | -0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.89 | -0.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.86 | -0.31 |
Drawdowns
XLB.TO vs. XQQ.TO - Drawdown Comparison
The maximum XLB.TO drawdown since its inception was -24.34%, smaller than the maximum XQQ.TO drawdown of -38.55%. Use the drawdown chart below to compare losses from any high point for XLB.TO and XQQ.TO.
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Drawdown Indicators
| XLB.TO | XQQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.34% | -38.55% | +14.21% |
Max Drawdown (1Y)Largest decline over 1 year | -4.85% | -12.76% | +7.91% |
Max Drawdown (3Y)Largest decline over 3 years | -9.74% | -22.72% | +12.98% |
Max Drawdown (5Y)Largest decline over 5 years | -24.34% | -38.55% | +14.21% |
Max Drawdown (10Y)Largest decline over 10 years | -24.34% | -38.55% | +14.21% |
Current DrawdownCurrent decline from peak | -2.17% | -0.27% | -1.90% |
Average DrawdownAverage peak-to-trough decline | -4.05% | -5.92% | +1.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 3.41% | -0.84% |
Volatility
XLB.TO vs. XQQ.TO - Volatility Comparison
The current volatility for iShares Core Canadian Long Term Bond Index ETF (XLB.TO) is 2.77%, while iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) has a volatility of 4.48%. This indicates that XLB.TO experiences smaller price fluctuations and is considered to be less risky than XQQ.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 | XQQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.77% | 4.48% | -1.71% |
Volatility (6M)Calculated over the trailing 6-month period | 5.77% | 12.00% | -6.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.93% | 15.82% | -7.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.68% | 22.52% | -9.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.86% | 22.34% | -10.48% |
XLB.TO vs. XQQ.TO - Expense Ratio Comparison
XLB.TO has a 0.20% expense ratio, which is lower than XQQ.TO's 0.39% expense ratio.
Dividends
XLB.TO vs. XQQ.TO - Dividend Comparison
XLB.TO's dividend yield for the trailing twelve months is around 4.01%, more than XQQ.TO's 0.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XQQ.TO iShares NASDAQ 100 Index ETF (CAD-Hedged) | 0.21% | 0.25% | 0.32% | 0.31% | 0.43% | 0.17% | 0.26% | 0.46% | 0.52% | 0.53% | 0.76% | 0.62% |
Frequently Asked Questions
XLB.TO and XQQ.TO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XLB.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XLB.TO is cheaper with a 0.20% expense ratio, compared with 0.39% for XQQ.TO.
XLB.TO is categorized as Canadian Government Bonds, while XQQ.TO is Nasdaq-100. XLB.TO tracks Morningstar Can 10+Y Core Bd GR CAD, while XQQ.TO tracks Morningstar US Market TR CAD. Their fees differ too: 0.20% for XLB.TO and 0.39% for XQQ.TO.
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