XMC.TO vs. XHB.TO
XMC.TO (iShares S&P U.S. Mid-Cap Index ETF) and XHB.TO (iShares Canadian HYBrid Corporate Bond Index ETF) are both exchange-traded funds - XMC.TO is a Mid Cap Blend Equities fund tracking the Morningstar US SMID TR CAD, while XHB.TO is a Corporate Bonds fund tracking the Morningstar Can Corp Bd GR CAD. Both are passively managed. Over the past 10 years, XMC.TO returned 11.49%/yr vs 3.73%/yr for XHB.TO. At a 0.02 correlation, their price movements are largely independent. XMC.TO charges 0.16%/yr vs 0.50%/yr for XHB.TO.
Performance
XMC.TO vs. XHB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XMC.TO achieves a 17.19% return, which is significantly higher than XHB.TO's 1.95% return. Over the past 10 years, XMC.TO has outperformed XHB.TO with an annualized return of 11.49%, while XHB.TO has yielded a comparatively lower 3.73% annualized return.
XMC.TO
- 1D
- -0.61%
- 1M
- 0.02%
- 6M
- 8.97%
- YTD
- 17.19%
- 1Y
- 22.46%
- 3Y*
- 15.22%
- 5Y*
- 11.12%
- 10Y*
- 11.49%
XHB.TO
- 1D
- 0.10%
- 1M
- -0.27%
- 6M
- 1.34%
- YTD
- 1.95%
- 1Y
- 5.59%
- 3Y*
- 7.24%
- 5Y*
- 2.87%
- 10Y*
- 3.73%
XMC.TO vs. XHB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XMC.TO iShares S&P U.S. Mid-Cap Index ETF | 17.19% | 2.37% | 22.99% | 13.65% | -7.61% | 23.39% | 11.11% | 20.90% | -4.83% | 8.76% |
XHB.TO iShares Canadian HYBrid Corporate Bond Index ETF | 1.95% | 5.34% | 8.02% | 10.06% | -9.67% | 0.02% | 8.71% | 8.59% | 0.59% | 4.49% |
Correlation
The correlation between XMC.TO and XHB.TO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
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 Aug 10, 2015 | 0.02 |
Over the past year, XMC.TO and XHB.TO have become more correlated (0.28) than their long-term average of 0.02, meaning their price movements have been converging.
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Return for Risk
XMC.TO vs. XHB.TO — Risk / Return Rank
XMC.TO
XHB.TO
XMC.TO vs. XHB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P U.S. Mid-Cap Index ETF (XMC.TO) and iShares Canadian HYBrid Corporate Bond Index ETF (XHB.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.
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.
| XMC.TO | XHB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.31 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 2.32 | +0.40 |
| Martin ratioReturn relative to average drawdown | 9.85 | 7.75 | +2.10 |
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Drawdowns
XMC.TO vs. XHB.TO - Drawdown Comparison
The maximum XMC.TO drawdown since its inception was -36.38%, which is greater than XHB.TO's maximum drawdown of -26.50%. Use the drawdown chart below to compare losses from any high point for XMC.TO and XHB.TO.
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Drawdown Indicators
| XMC.TO | XHB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.38% | -26.50% | -9.88% |
Max Drawdown (1Y)Largest decline over 1 year | -8.28% | -2.42% | -5.86% |
Max Drawdown (3Y)Largest decline over 3 years | -22.70% | -2.91% | -19.79% |
Max Drawdown (5Y)Largest decline over 5 years | -22.70% | -13.94% | -8.76% |
Max Drawdown (10Y)Largest decline over 10 years | -36.38% | -26.50% | -9.88% |
Current DrawdownCurrent decline from peak | -3.24% | -0.55% | -2.69% |
Average DrawdownAverage peak-to-trough decline | -5.00% | -2.07% | -2.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.29% | 0.72% | +1.57% |
Volatility
XMC.TO vs. XHB.TO - Volatility Comparison
iShares S&P U.S. Mid-Cap Index ETF (XMC.TO) has a higher volatility of 3.44% compared to iShares Canadian HYBrid Corporate Bond Index ETF (XHB.TO) at 0.92%. This indicates that XMC.TO's price experiences larger fluctuations and is considered to be riskier than XHB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XMC.TO | XHB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.44% | 0.92% | +2.52% |
Volatility (6M)Calculated over the trailing 6-month period | 11.76% | 2.70% | +9.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.81% | 3.30% | +12.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.67% | 5.54% | +12.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.58% | 11.02% | +7.56% |
XMC.TO vs. XHB.TO - Expense Ratio Comparison
XMC.TO has a 0.16% expense ratio, which is lower than XHB.TO's 0.50% expense ratio.
Dividends
XMC.TO vs. XHB.TO - Dividend Comparison
XMC.TO's dividend yield for the trailing twelve months is around 0.91%, less than XHB.TO's 4.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XHB.TO iShares Canadian HYBrid Corporate Bond Index ETF | 4.56% | 4.48% | 4.36% | 4.23% | 4.24% | 3.51% | 3.53% | 3.81% | 4.07% | 4.08% | 4.35% | 4.78% |
XMC.TO iShares S&P U.S. Mid-Cap Index ETF | 0.91% | 1.10% | 0.94% | 1.17% | 1.27% | 0.99% | 1.07% | 1.43% | 1.57% | 0.98% | 1.06% | 0.54% |
Frequently Asked Questions
XMC.TO and XHB.TO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XMC.TO is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XMC.TO is cheaper with a 0.16% expense ratio, compared with 0.50% for XHB.TO.
XMC.TO is categorized as Mid Cap Blend Equities, while XHB.TO is Corporate Bonds. XMC.TO tracks Morningstar US SMID TR CAD, while XHB.TO tracks Morningstar Can Corp Bd GR CAD. Their fees differ too: 0.16% for XMC.TO and 0.50% for XHB.TO.
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