XRB.TO vs. VTIP
XRB.TO (iShares Canadian Real Return Bond Index ETF) and VTIP (Vanguard Short-Term Inflation-Protected Securities ETF) are both Inflation-Protected Bonds funds - XRB.TO tracks the FTSE Canada Real Return Bond Index while VTIP tracks the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. Both are passively managed. Over the past 10 years, XRB.TO returned 0.06%/yr vs 3.89%/yr for VTIP. At a 0.18 correlation, their price movements are largely independent. XRB.TO charges 0.39%/yr vs 0.03%/yr for VTIP.
Performance
XRB.TO vs. VTIP - Performance Comparison
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Different Trading Currencies
XRB.TO is traded in CAD, while VTIP is traded in USD. To make them comparable, the VTIP values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XRB.TO achieves a 2.56% return, which is significantly lower than VTIP's 3.35% return. Over the past 10 years, XRB.TO has underperformed VTIP with an annualized return of 0.06%, while VTIP has yielded a comparatively higher 3.89% annualized return.
XRB.TO
- 1D
- -0.13%
- 1M
- 1.21%
- YTD
- 2.56%
- 6M
- 0.86%
- 1Y
- 3.06%
- 3Y*
- 1.50%
- 5Y*
- -1.66%
- 10Y*
- 0.06%
VTIP
- 1D
- 0.41%
- 1M
- 2.04%
- YTD
- 3.35%
- 6M
- 1.64%
- 1Y
- 6.05%
- 3Y*
- 6.48%
- 5Y*
- 6.32%
- 10Y*
- 3.89%
XRB.TO vs. VTIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XRB.TO iShares Canadian Real Return Bond Index ETF | 2.56% | 0.05% | 3.95% | -2.15% | -15.01% | -1.30% | 12.11% | 5.93% | -1.23% | -0.11% |
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 3.35% | 1.20% | 13.74% | 2.31% | 3.98% | 4.41% | 3.17% | -0.29% | 9.09% | -5.60% |
Correlation
The correlation between XRB.TO and VTIP is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2012 | 0.18 |
The correlation between XRB.TO and VTIP shifts across timeframes, from 0.07 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XRB.TO vs. VTIP — Risk / Return Rank
XRB.TO
VTIP
XRB.TO vs. VTIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Canadian Real Return Bond Index ETF (XRB.TO) and Vanguard Short-Term Inflation-Protected Securities ETF (VTIP). 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.
| XRB.TO | VTIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.23 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 1.57 | -0.70 |
| Martin ratioReturn relative to average drawdown | 1.73 | 4.30 | -2.58 |
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
| XRB.TO | VTIP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.45 | 1.32 | -0.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | 1.03 | -1.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.01 | 0.60 | -0.59 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.72 | -0.45 |
Drawdowns
XRB.TO vs. VTIP - Drawdown Comparison
The maximum XRB.TO drawdown since its inception was -26.58%, which is greater than VTIP's maximum drawdown of -13.94%. Use the drawdown chart below to compare losses from any high point for XRB.TO and VTIP.
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Drawdown Indicators
| XRB.TO | VTIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.58% | -13.94% | -12.64% |
Max Drawdown (1Y)Largest decline over 1 year | -3.55% | -3.87% | +0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -10.65% | -5.45% | -5.20% |
Max Drawdown (5Y)Largest decline over 5 years | -26.58% | -5.45% | -21.13% |
Max Drawdown (10Y)Largest decline over 10 years | -26.58% | -11.42% | -15.16% |
Current DrawdownCurrent decline from peak | -13.56% | 0.00% | -13.56% |
Average DrawdownAverage peak-to-trough decline | -7.09% | -3.32% | -3.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 1.41% | +0.37% |
Volatility
XRB.TO vs. VTIP - Volatility Comparison
iShares Canadian Real Return Bond Index ETF (XRB.TO) has a higher volatility of 2.72% compared to Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) at 0.85%. This indicates that XRB.TO's price experiences larger fluctuations and is considered to be riskier than VTIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XRB.TO | VTIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.72% | 0.85% | +1.87% |
Volatility (6M)Calculated over the trailing 6-month period | 5.11% | 3.46% | +1.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.85% | 4.61% | +2.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.91% | 6.16% | +5.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.35% | 6.50% | +4.85% |
XRB.TO vs. VTIP - Expense Ratio Comparison
XRB.TO has a 0.39% expense ratio, which is higher than VTIP's 0.03% expense ratio.
Dividends
XRB.TO vs. VTIP - Dividend Comparison
XRB.TO's dividend yield for the trailing twelve months is around 3.63%, more than VTIP's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 3.58% | 3.81% | 2.70% | 2.86% | 6.84% | 4.68% | 1.20% | 1.95% | 2.45% | 1.52% | 0.76% | 0.00% |
XRB.TO iShares Canadian Real Return Bond Index ETF | 3.63% | 3.73% | 2.36% | 2.36% | 1.83% | 1.23% | 1.36% | 1.72% | 1.74% | 1.69% | 1.58% | 1.61% |
Frequently Asked Questions
XRB.TO and VTIP have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VTIP is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VTIP is cheaper with a 0.03% expense ratio, compared with 0.39% for XRB.TO.
XRB.TO tracks FTSE Canada Real Return Bond Index, while VTIP tracks Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.39% for XRB.TO and 0.03% for VTIP.
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