XSB.TO vs. MCSB.TO
XSB.TO (iShares Core Canadian Short Term Bond Index ETF) and MCSB.TO (Mackenzie Canadian Short Term Fixed Income ETF) are both Short-Term Bond funds. XSB.TO is passively managed, while MCSB.TO is actively managed. Over the past 5 years, XSB.TO returned 2.08%/yr vs 5.00%/yr for MCSB.TO. At a 0.34 correlation, their price movements are largely independent.
Performance
XSB.TO vs. MCSB.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XSB.TO achieves a 1.21% return, which is significantly lower than MCSB.TO's 1.47% return.
XSB.TO
- 1D
- 0.15%
- 1M
- -0.00%
- 6M
- 0.91%
- YTD
- 1.21%
- 1Y
- 3.45%
- 3Y*
- 4.89%
- 5Y*
- 2.08%
- 10Y*
- 1.98%
MCSB.TO
- 1D
- 0.15%
- 1M
- 0.06%
- 6M
- 1.06%
- YTD
- 1.47%
- 1Y
- 3.36%
- 3Y*
- 5.41%
- 5Y*
- 5.00%
- 10Y*
- —
XSB.TO vs. MCSB.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 | 1.21% | 3.70% | 5.87% | 4.67% | -4.04% | -1.11% | 5.20% | 3.20% | 1.60% | -0.14% |
MCSB.TO Mackenzie Canadian Short Term Fixed Income ETF | 1.47% | 3.93% | 6.41% | 5.77% | -4.18% | 11.34% | 5.66% | 3.79% | 1.50% | -0.06% |
Correlation
The correlation between XSB.TO and MCSB.TO is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 2017 | 0.34 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XSB.TO vs. MCSB.TO — Risk / Return Rank
XSB.TO
MCSB.TO
XSB.TO vs. MCSB.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 Mackenzie Canadian Short Term Fixed Income ETF (MCSB.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| XSB.TO | MCSB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.29 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | 2.27 | +0.08 |
| Martin ratioReturn relative to average drawdown | 7.96 | 6.58 | +1.38 |
Loading charts...
Drawdowns
XSB.TO vs. MCSB.TO - Drawdown Comparison
The maximum XSB.TO drawdown since its inception was -8.65%, roughly equal to the maximum MCSB.TO drawdown of -8.35%. Use the drawdown chart below to compare losses from any high point for XSB.TO and MCSB.TO.
Loading charts...
Drawdown Indicators
| XSB.TO | MCSB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.65% | -8.35% | -0.30% |
Max Drawdown (1Y)Largest decline over 1 year | -1.47% | -1.49% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -1.47% | -1.49% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -6.99% | -6.24% | -0.75% |
Max Drawdown (10Y)Largest decline over 10 years | -8.65% | — | — |
Current DrawdownCurrent decline from peak | -0.30% | -0.34% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -0.79% | -1.05% | +0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.51% | -0.08% |
Volatility
XSB.TO vs. MCSB.TO - Volatility Comparison
The current volatility for iShares Core Canadian Short Term Bond Index ETF (XSB.TO) is 0.61%, while Mackenzie Canadian Short Term Fixed Income ETF (MCSB.TO) has a volatility of 0.71%. This indicates that XSB.TO experiences smaller price fluctuations and is considered to be less risky than MCSB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XSB.TO | MCSB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.61% | 0.71% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 1.70% | 1.62% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.03% | 2.26% | -0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.73% | 6.42% | -3.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.40% | 5.83% | -2.43% |
Dividends
XSB.TO vs. MCSB.TO - Dividend Comparison
XSB.TO's dividend yield for the trailing twelve months is around 3.10%, which matches MCSB.TO's 3.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MCSB.TO Mackenzie Canadian Short Term Fixed Income ETF | 3.12% | 3.16% | 3.17% | 3.18% | 2.47% | 12.93% | 2.47% | 2.31% | 2.91% | 0.14% | 0.00% | 0.00% |
XSB.TO iShares Core Canadian Short Term Bond Index ETF | 3.10% | 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 MCSB.TO have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: iShares and Mackenzie.
Find the right allocation for XSB.TO and MCSB.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer