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XMD.TO vs. XBB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMD.TO vs. XBB

Last updated Jun 4, 2026

XMD.TO (iShares S&P/TSX Completion Index ETF) and XBB (BondBloxx BB Rated USD High Yield Corporate Bond ETF) are both exchange-traded funds - XMD.TO is a Canada Equities fund tracking the Morningstar Canada Sml GR CAD, while XBB is a High Yield Bonds fund tracking the ICE BofA BB US Cash Pay High Yield Constrained Index. Both are passively managed. Over the past 3 years, XMD.TO returned 27.16%/yr vs 8.89%/yr for XBB. At a 0.08 correlation, their price movements are largely independent. XMD.TO charges 0.60%/yr vs 0.20%/yr for XBB.

Performance

XMD.TO vs. XBB - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Completion Index ETF (XMD.TO) and BondBloxx BB Rated USD High Yield Corporate Bond ETF (XBB). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XMD.TO is traded in CAD, while XBB is traded in USD. To make them comparable, the XBB values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XMD.TO achieves a 12.81% return, which is significantly higher than XBB's 2.61% return.

XMD.TO

1D
-1.61%
1M
4.02%
YTD
12.81%
6M
15.57%
1Y
46.80%
3Y*
27.16%
5Y*
16.03%
10Y*
11.90%

XBB

1D
-0.01%
1M
2.44%
YTD
2.61%
6M
1.13%
1Y
7.76%
3Y*
8.89%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XMD.TO vs. XBB - Yearly Performance Comparison

2026 (YTD)2025202420232022
XMD.TO
iShares S&P/TSX Completion Index ETF		12.81%41.38%23.55%10.01%-3.45%
XBB
BondBloxx BB Rated USD High Yield Corporate Bond ETF		2.61%3.61%15.55%8.20%2.03%

Correlation

The correlation between XMD.TO and XBB is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.06

Correlation (3Y)
Calculated over the trailing 3-year period

0.04

Correlation (All Time)
Calculated using the full available price history since May 27, 2022

0.08

XMD.TO vs. XBB - Sectors Allocation Comparison

Sectors
XMD.TO
XBB

Basic Materials

33.9%
3.3%

Industrials

20.1%
9.2%

Energy

17.3%
6.3%

Financial Services

8.3%
6.2%

Real Estate

6.8%
4.4%

Utilities

5.4%
2.8%

Consumer Cyclical

3.1%
12.4%

Technology

1.8%
4.4%

Consumer Defensive

1.6%
2.6%

Communication Services

1.1%
8.7%

Healthcare

0.7%
6.9%

Basic Materials

XMD.TO
33.9%
XBB
3.3%

Industrials

XMD.TO
20.1%
XBB
9.2%

Energy

XMD.TO
17.3%
XBB
6.3%

Financial Services

XMD.TO
8.3%
XBB
6.2%

Real Estate

XMD.TO
6.8%
XBB
4.4%

Utilities

XMD.TO
5.4%
XBB
2.8%

Consumer Cyclical

XMD.TO
3.1%
XBB
12.4%

Technology

XMD.TO
1.8%
XBB
4.4%

Consumer Defensive

XMD.TO
1.6%
XBB
2.6%

Communication Services

XMD.TO
1.1%
XBB
8.7%

Healthcare

XMD.TO
0.7%
XBB
6.9%

Compare stocks, funds, or ETFs

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iShares S&P/TSX Completion Index ETF

BondBloxx BB Rated USD High Yield Corporate Bond ETF

Often compared with XMD.TO:
XMD.TO vs. XCS.TOXMD.TO vs. XIU.TOXMD.TO vs. CGL-C.TOXMD.TO vs. VFV.TOXMD.TO vs. XCSR.TOXMD.TO vs. XCG.TOXMD.TO vs. VUN.TO
Often compared with XBB:
XBB vs. ZAG.TOXBB vs. XHY.TOXBB vs. XSB.TOXBB vs. BBDD.LXBB vs. XTLT.TOXBB vs. LABUXBB vs. XRB.TO

Return for Risk

XMD.TO vs. XBB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XMD.TO
XMD.TO Risk / Return Rank: 6868
Overall Rank
XMD.TO Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
XMD.TO Sortino Ratio Rank: 6363
Sortino Ratio Rank
XMD.TO Omega Ratio Rank: 7676
Omega Ratio Rank
XMD.TO Calmar Ratio Rank: 6262
Calmar Ratio Rank
XMD.TO Martin Ratio Rank: 6464
Martin Ratio Rank
XBB
XBB Risk / Return Rank: 4949
Overall Rank
XBB Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
XBB Sortino Ratio Rank: 4949
Sortino Ratio Rank
XBB Omega Ratio Rank: 4848
Omega Ratio Rank
XBB Calmar Ratio Rank: 4646
Calmar Ratio Rank
XBB Martin Ratio Rank: 5555
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XMD.TO vs. XBB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Completion Index ETF (XMD.TO) and BondBloxx BB Rated USD High Yield Corporate Bond ETF (XBB). 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.

XMD.TOXBBDifference
Sharpe ratioReturn per unit of total volatility
2.47
1.44

+1.03

Sortino ratioReturn per unit of downside risk
2.96
2.02

+0.93

Omega ratioGain probability vs. loss probability

1.46

1.27

+0.19

Calmar ratioReturn relative to maximum drawdown

3.11

2.28

+0.83

Martin ratioReturn relative to average drawdown

11.51

5.69

+5.82

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XMD.TO vs. XBB - Sharpe Ratio Comparison

The current XMD.TO Sharpe Ratio is 2.47, which is higher than the XBB Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of XMD.TO and XBB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

XMD.TOXBBDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.47

1.44

+1.03

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.97

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.71

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.55

1.14

-0.59

Drawdowns

XMD.TO vs. XBB - Drawdown Comparison

The maximum XMD.TO drawdown since its inception was -53.42%, which is greater than XBB's maximum drawdown of -7.05%. Use the drawdown chart below to compare losses from any high point for XMD.TO and XBB.

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Drawdown Indicators

XMD.TOXBBDifference

Max Drawdown

Largest peak-to-trough decline

-53.42%

-7.05%

-46.37%

Max Drawdown (1Y)

Largest decline over 1 year

-15.12%

-3.42%

-11.70%

Max Drawdown (3Y)

Largest decline over 3 years

-15.12%

-6.88%

-8.24%

Max Drawdown (5Y)

Largest decline over 5 years

-18.16%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-43.40%

—

—

Current Drawdown

Current decline from peak

-4.17%

-0.01%

-4.16%

Average Drawdown

Average peak-to-trough decline

-8.20%

-1.40%

-6.80%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.08%

1.37%

+2.71%

Volatility

XMD.TO vs. XBB - Volatility Comparison

iShares S&P/TSX Completion Index ETF (XMD.TO) has a higher volatility of 5.74% compared to BondBloxx BB Rated USD High Yield Corporate Bond ETF (XBB) at 1.27%. This indicates that XMD.TO's price experiences larger fluctuations and is considered to be riskier than XBB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XMD.TOXBBDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.74%

1.27%

+4.47%

Volatility (6M)

Calculated over the trailing 6-month period

16.26%

4.11%

+12.15%

Volatility (1Y)

Calculated over the trailing 1-year period

19.08%

5.42%

+13.66%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.59%

6.94%

+9.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.93%

6.94%

+9.99%

XMD.TO vs. XBB - Expense Ratio Comparison

XMD.TO has a 0.60% expense ratio, which is higher than XBB's 0.20% expense ratio.

Dividends

XMD.TO vs. XBB - Dividend Comparison

XMD.TO's dividend yield for the trailing twelve months is around 0.83%, less than XBB's 5.56% yield.

PositionTTM20252024202320222021202020192018201720162015
XBB
BondBloxx BB Rated USD High Yield Corporate Bond ETF		5.56%5.42%6.35%6.15%3.73%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XMD.TO
iShares S&P/TSX Completion Index ETF		0.83%0.97%1.58%1.91%2.24%1.17%1.91%2.55%2.44%1.76%1.97%2.34%

Frequently Asked Questions

XMD.TO and XBB have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XBB is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XBB is cheaper with a 0.20% expense ratio, compared with 0.60% for XMD.TO.

XMD.TO is categorized as Canada Equities, while XBB is High Yield Bonds. XMD.TO tracks Morningstar Canada Sml GR CAD, while XBB tracks ICE BofA BB US Cash Pay High Yield Constrained Index. They also come from different issuers: iShares and BondBloxx. Their fees differ too: 0.60% for XMD.TO and 0.20% for XBB.

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