XSB.TO vs. CMR.TO
XSB.TO (iShares Core Canadian Short Term Bond Index ETF) and CMR.TO (iShares Premium Money Market ETF) are both exchange-traded funds - XSB.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD, while CMR.TO is a Money Market fund actively managed by iShares. XSB.TO is passively managed, while CMR.TO is actively managed. Over the past 10 years, XSB.TO returned 1.97%/yr vs 1.89%/yr for CMR.TO. At a 0.02 correlation, their price movements are largely independent. XSB.TO charges 0.10%/yr vs 0.14%/yr for CMR.TO.
Performance
XSB.TO vs. CMR.TO - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with XSB.TO at 0.99% and CMR.TO at 0.99%. Both investments have delivered pretty close results over the past 10 years, with XSB.TO having a 1.97% annualized return and CMR.TO not far behind at 1.89%.
XSB.TO
- 1D
- -0.04%
- 1M
- 0.82%
- YTD
- 0.99%
- 6M
- 0.88%
- 1Y
- 2.88%
- 3Y*
- 4.74%
- 5Y*
- 2.02%
- 10Y*
- 1.97%
CMR.TO
- 1D
- 0.02%
- 1M
- 0.19%
- YTD
- 0.99%
- 6M
- 1.05%
- 1Y
- 2.39%
- 3Y*
- 3.73%
- 5Y*
- 2.94%
- 10Y*
- 1.89%
XSB.TO vs. CMR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSB.TO iShares Core Canadian Short Term Bond Index ETF | 0.99% | 3.70% | 5.87% | 4.67% | -4.04% | -1.11% | 5.20% | 3.20% | 1.60% | 0.13% |
CMR.TO iShares Premium Money Market ETF | 0.99% | 2.68% | 4.70% | 4.70% | 1.71% | 0.00% | 0.47% | 1.63% | 1.29% | 0.63% |
Correlation
The correlation between XSB.TO and CMR.TO 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 | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2008 | 0.02 |
The correlation between XSB.TO and CMR.TO shifts across timeframes, from -0.06 (1 year) to 0.06 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XSB.TO vs. CMR.TO — Risk / Return Rank
XSB.TO
CMR.TO
XSB.TO vs. CMR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Canadian Short Term Bond Index ETF (XSB.TO) and iShares Premium Money Market ETF (CMR.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.
| XSB.TO | CMR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.25 | ||
| Sortino ratioReturn per unit of downside risk | -19.25 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 9.64 | -8.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 25.66 | -23.70 |
| Martin ratioReturn relative to average drawdown | 6.50 | 188.94 | -182.44 |
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
| XSB.TO | CMR.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.45 | 10.70 | -9.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.75 | 10.68 | -9.94 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 7.03 | -6.44 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.11 | 3.84 | -2.74 |
Drawdowns
XSB.TO vs. CMR.TO - Drawdown Comparison
The maximum XSB.TO drawdown since its inception was -8.65%, which is greater than CMR.TO's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for XSB.TO and CMR.TO.
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Drawdown Indicators
| XSB.TO | CMR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.65% | -0.52% | -8.13% |
Max Drawdown (1Y)Largest decline over 1 year | -1.47% | -0.09% | -1.38% |
Max Drawdown (3Y)Largest decline over 3 years | -1.47% | -0.09% | -1.38% |
Max Drawdown (5Y)Largest decline over 5 years | -6.99% | -0.09% | -6.90% |
Max Drawdown (10Y)Largest decline over 10 years | -8.65% | -0.14% | -8.51% |
Current DrawdownCurrent decline from peak | -0.15% | 0.00% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -0.83% | -0.01% | -0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 0.01% | +0.43% |
Volatility
XSB.TO vs. CMR.TO - Volatility Comparison
iShares Core Canadian Short Term Bond Index ETF (XSB.TO) has a higher volatility of 0.78% compared to iShares Premium Money Market ETF (CMR.TO) at 0.05%. This indicates that XSB.TO's price experiences larger fluctuations and is considered to be riskier than CMR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSB.TO | CMR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 0.05% | +0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 1.68% | 0.18% | +1.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.00% | 0.22% | +1.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.72% | 0.28% | +2.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.40% | 0.27% | +3.13% |
XSB.TO vs. CMR.TO - Expense Ratio Comparison
XSB.TO has a 0.10% expense ratio, which is lower than CMR.TO's 0.14% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XSB.TO vs. CMR.TO - Dividend Comparison
XSB.TO's dividend yield for the trailing twelve months is around 3.11%, more than CMR.TO's 2.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMR.TO iShares Premium Money Market ETF | 2.48% | 2.81% | 4.56% | 4.64% | 1.62% | 0.00% | 0.47% | 1.60% | 1.33% | 0.61% | 0.43% | 0.48% |
XSB.TO iShares Core Canadian Short Term Bond Index ETF | 3.11% | 3.15% | 3.05% | 2.67% | 2.28% | 2.05% | 2.21% | 2.39% | 2.39% | 2.36% | 2.36% | 2.50% |
Frequently Asked Questions
XSB.TO and CMR.TO 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, XSB.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSB.TO is cheaper with a 0.10% expense ratio, compared with 0.14% for CMR.TO.
XSB.TO is categorized as Canadian Government Bonds, while CMR.TO is Money Market. Their fees differ too: 0.10% for XSB.TO and 0.14% for CMR.TO.
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