XRB.TO vs. VTIP

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Canadian Real Return Bond Index ETF (XRB.TO) and Vanguard Short-Term Inflation-Protected Securities ETF (VTIP).

XRB.TO and VTIP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XRB.TO is a passively managed fund by iShares that tracks the performance of the FTSE Canada Real Return Bond Index. It was launched on Dec 19, 2005. VTIP is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. It was launched on Oct 12, 2012. Both XRB.TO and VTIP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XRB.TO vs. VTIP - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Canadian Real Return Bond Index ETF (XRB.TO) and Vanguard Short-Term Inflation-Protected Securities ETF (VTIP). The values are adjusted to include any dividend payments, if applicable.

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	1.51%	0.11%	3.98%	-2.11%	-14.98%	-1.28%	12.13%	5.96%	-1.20%	-0.09%
VTIP Vanguard Short-Term Inflation-Protected Securities ETF	2.36%	1.20%	13.74%	2.31%	3.98%	4.41%	3.17%	-0.29%	9.09%	-5.60%

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 1.51% return, which is significantly lower than VTIP's 2.36% return. Over the past 10 years, XRB.TO has underperformed VTIP with an annualized return of 0.30%, while VTIP has yielded a comparatively higher 3.76% annualized return.

XRB.TO

• 1D: 0.22%
• 1M: -1.97%
• YTD: 1.51%
• 6M: 1.30%
• 1Y: -0.79%
• 3Y*: 1.19%
• 5Y*: -1.30%
• 10Y*: 0.30%

VTIP

• 1D: -0.09%
• 1M: 2.08%
• YTD: 2.36%
• 6M: 1.28%
• 1Y: 0.48%
• 3Y*: 5.66%
• 5Y*: 5.64%
• 10Y*: 3.76%

*Multi-year figures are annualized to reflect compound growth (CAGR)

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.

XRB.TO

iShares Canadian Real Return Bond Index ETF

VTIP

Vanguard Short-Term Inflation-Protected Securities ETF

Return for Risk

XRB.TO vs. VTIP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XRB.TO

XRB.TO Risk / Return Rank: 10
XRB.TO Sharpe Ratio Rank: 10
XRB.TO Sortino Ratio Rank: 8
XRB.TO Omega Ratio Rank: 8
XRB.TO Calmar Ratio Rank: 11
XRB.TO Martin Ratio Rank: 11

VTIP

VTIP Risk / Return Rank: 94
VTIP Sharpe Ratio Rank: 93
VTIP Sortino Ratio Rank: 96
VTIP Omega Ratio Rank: 95
VTIP Calmar Ratio Rank: 96
VTIP Martin Ratio Rank: 93

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.

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 ratio Return per unit of total volatility	-0.11	0.09	-0.20
Sortino ratio Return per unit of downside risk	-0.10	0.16	-0.25
Omega ratio Gain probability vs. loss probability	0.99	1.02	-0.03
Calmar ratio Return relative to maximum drawdown	-0.04	0.20	-0.24
Martin ratio Return relative to average drawdown	-0.09	0.41	-0.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XRB.TO vs. VTIP - Sharpe Ratio Comparison

The current XRB.TO Sharpe Ratio is -0.11, which is lower than the VTIP Sharpe Ratio of 0.09. The chart below compares the historical Sharpe Ratios of XRB.TO and VTIP, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XRB.TO	VTIP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.11	0.09	-0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.11	0.91	-1.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.03	0.57	-0.54
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.72	-0.45

Correlation

The correlation between XRB.TO and VTIP is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

XRB.TO vs. VTIP - Dividend Comparison

XRB.TO's dividend yield for the trailing twelve months is around 3.73%, less than VTIP's 3.77% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XRB.TO iShares Canadian Real Return Bond Index ETF	3.73%	3.78%	2.40%	2.40%	1.86%	1.25%	1.38%	1.74%	1.76%	1.71%	1.61%	1.63%
VTIP Vanguard Short-Term Inflation-Protected Securities ETF	3.77%	3.81%	2.70%	2.86%	6.84%	4.68%	1.20%	1.95%	2.45%	1.52%	0.76%	0.00%

Drawdowns

XRB.TO vs. VTIP - Drawdown Comparison

The maximum XRB.TO drawdown since its inception was -26.54%, 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.

Drawdown Indicators

	XRB.TO	VTIP	Difference
Max Drawdown Largest peak-to-trough decline	-26.54%	-6.27%	-20.27%
Max Drawdown (1Y) Largest decline over 1 year	-6.66%	-0.98%	-5.68%
Max Drawdown (5Y) Largest decline over 5 years	-26.54%	-5.50%	-21.04%
Max Drawdown (10Y) Largest decline over 10 years	-26.54%	-6.27%	-20.27%
Current Drawdown Current decline from peak	-14.30%	-0.26%	-14.04%
Average Drawdown Average peak-to-trough decline	-7.00%	-1.05%	-5.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	0.30%	+3.04%

Volatility

XRB.TO vs. VTIP - Volatility Comparison

iShares Canadian Real Return Bond Index ETF (XRB.TO) has a higher volatility of 2.46% compared to Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) at 1.41%. 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.

Volatility by Period

	XRB.TO	VTIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.46%	1.41%	+1.05%
Volatility (6M) Calculated over the trailing 6-month period	4.52%	3.46%	+1.06%
Volatility (1Y) Calculated over the trailing 1-year period	7.37%	5.33%	+2.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.89%	6.21%	+5.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.35%	6.59%	+4.76%