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XSB.TO vs. FSB.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XSB.TO vs. FSB.TO

Last updated Jun 4, 2026

XSB.TO (iShares Core Canadian Short Term Bond Index ETF) and FSB.TO (CI First Asset Enhanced Short Duration Bond Fund 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 FSB.TO is a fund fund. Over the past 5 years, XSB.TO returned 2.02%/yr vs 3.50%/yr for FSB.TO. At a 0.30 correlation, their price movements are largely independent.

Performance

XSB.TO vs. FSB.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core Canadian Short Term Bond Index ETF (XSB.TO) and CI First Asset Enhanced Short Duration Bond Fund ETF (FSB.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with XSB.TO having a 1.03% return and FSB.TO slightly higher at 1.05%.

XSB.TO

1D
0.04%
1M
0.93%
YTD
1.03%
6M
0.80%
1Y
2.95%
3Y*
4.75%
5Y*
2.02%
10Y*
1.96%

FSB.TO

1D
0.00%
1M
0.28%
YTD
1.05%
6M
1.07%
1Y
2.99%
3Y*
4.22%
5Y*
3.50%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XSB.TO vs. FSB.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XSB.TO
iShares Core Canadian Short Term Bond Index ETF		1.03%3.70%5.87%4.67%-4.04%-1.11%5.20%3.20%1.60%0.65%
FSB.TO
CI First Asset Enhanced Short Duration Bond Fund ETF		1.05%3.78%4.45%5.54%0.72%2.92%5.81%3.49%0.91%0.91%

Correlation

The correlation between XSB.TO and FSB.TO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.30

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

0.38

Correlation (5Y)
Calculated over the trailing 5-year period

0.39

Correlation (All Time)
Calculated using the full available price history since Sep 13, 2017

0.30

Compare stocks, funds, or ETFs

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iShares Core Canadian Short Term Bond Index ETF

CI First Asset Enhanced Short Duration Bond Fund ETF

Often compared with XSB.TO:
XSB.TO vs. XBB.TOXSB.TO vs. ZAG.TOXSB.TO vs. XSH.TOXSB.TO vs. VSB.TOXSB.TO vs. XCB.TOXSB.TO vs. XLB.TOXSB.TO vs. ZCS.TO

Return for Risk

XSB.TO vs. FSB.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XSB.TO
XSB.TO Risk / Return Rank: 4141
Overall Rank
XSB.TO Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
XSB.TO Sortino Ratio Rank: 4040
Sortino Ratio Rank
XSB.TO Omega Ratio Rank: 4545
Omega Ratio Rank
XSB.TO Calmar Ratio Rank: 4040
Calmar Ratio Rank
XSB.TO Martin Ratio Rank: 4141
Martin Ratio Rank
FSB.TO
FSB.TO Risk / Return Rank: 5050
Overall Rank
FSB.TO Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
FSB.TO Sortino Ratio Rank: 3636
Sortino Ratio Rank
FSB.TO Omega Ratio Rank: 3333
Omega Ratio Rank
FSB.TO Calmar Ratio Rank: 7171
Calmar Ratio Rank
FSB.TO Martin Ratio Rank: 7575
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.

XSB.TO vs. FSB.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 CI First Asset Enhanced Short Duration Bond Fund ETF (FSB.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.TOFSB.TODifference
Sharpe ratioReturn per unit of total volatility
1.48
1.24

+0.25

Sortino ratioReturn per unit of downside risk
2.11
1.86

+0.25

Omega ratioGain probability vs. loss probability

1.29

1.22

+0.07

Calmar ratioReturn relative to maximum drawdown

2.01

3.48

-1.47

Martin ratioReturn relative to average drawdown

6.68

14.19

-7.51

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

XSB.TO vs. FSB.TO - Sharpe Ratio Comparison

The current XSB.TO Sharpe Ratio is 1.48, which is comparable to the FSB.TO Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of XSB.TO and FSB.TO, 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

XSB.TOFSB.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.48

1.24

+0.25

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.75

1.34

-0.59

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.58

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.11

1.29

-0.18

Drawdowns

XSB.TO vs. FSB.TO - Drawdown Comparison

The maximum XSB.TO drawdown since its inception was -8.65%, which is greater than FSB.TO's maximum drawdown of -5.94%. Use the drawdown chart below to compare losses from any high point for XSB.TO and FSB.TO.

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Drawdown Indicators

XSB.TOFSB.TODifference

Max Drawdown

Largest peak-to-trough decline

-8.65%

-5.94%

-2.71%

Max Drawdown (1Y)

Largest decline over 1 year

-1.47%

-0.86%

-0.61%

Max Drawdown (3Y)

Largest decline over 3 years

-1.47%

-1.24%

-0.23%

Max Drawdown (5Y)

Largest decline over 5 years

-6.99%

-2.90%

-4.09%

Max Drawdown (10Y)

Largest decline over 10 years

-8.65%

—

—

Current Drawdown

Current decline from peak

-0.12%

-0.21%

+0.09%

Average Drawdown

Average peak-to-trough decline

-0.83%

-0.30%

-0.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.44%

0.21%

+0.23%

Volatility

XSB.TO vs. FSB.TO - Volatility Comparison

iShares Core Canadian Short Term Bond Index ETF (XSB.TO) has a higher volatility of 0.78% compared to CI First Asset Enhanced Short Duration Bond Fund ETF (FSB.TO) at 0.70%. This indicates that XSB.TO's price experiences larger fluctuations and is considered to be riskier than FSB.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.TOFSB.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.78%

0.70%

+0.08%

Volatility (6M)

Calculated over the trailing 6-month period

1.68%

1.66%

+0.02%

Volatility (1Y)

Calculated over the trailing 1-year period

2.00%

2.42%

-0.42%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.72%

2.62%

+0.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.40%

2.62%

+0.78%

Dividends

XSB.TO vs. FSB.TO - Dividend Comparison

XSB.TO's dividend yield for the trailing twelve months is around 3.11%, less than FSB.TO's 4.01% yield.

PositionTTM20252024202320222021202020192018201720162015
FSB.TO
CI First Asset Enhanced Short Duration Bond Fund ETF		4.01%3.99%3.98%4.30%4.98%4.09%4.31%2.42%2.44%1.20%0.00%0.00%
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 FSB.TO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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