XSB.TO vs. XGB.TO
XSB.TO (iShares Core Canadian Short Term Bond Index ETF) and XGB.TO (iShares Core Canadian Government Bond Index ETF) are both Canadian Government Bonds funds from iShares - XSB.TO tracks the Morningstar Can 1-5Y Core Bd GR CAD while XGB.TO tracks the Morningstar Can Core Bd GR CAD. Both are passively managed. Over the past 10 years, XSB.TO returned 1.96%/yr vs 1.03%/yr for XGB.TO. A 0.66 correlation means they provide meaningful diversification when combined. XSB.TO charges 0.10%/yr vs 0.13%/yr for XGB.TO.
Performance
XSB.TO vs. XGB.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XSB.TO achieves a 1.03% return, which is significantly lower than XGB.TO's 1.57% return. Over the past 10 years, XSB.TO has outperformed XGB.TO with an annualized return of 1.96%, while XGB.TO has yielded a comparatively lower 1.03% annualized return.
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%
XGB.TO
- 1D
- -0.16%
- 1M
- 1.63%
- YTD
- 1.57%
- 6M
- 0.52%
- 1Y
- 2.67%
- 3Y*
- 3.45%
- 5Y*
- 0.13%
- 10Y*
- 1.03%
XSB.TO vs. XGB.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 | 1.03% | 3.70% | 5.87% | 4.67% | -4.04% | -1.11% | 5.20% | 3.20% | 1.60% | 0.13% |
XGB.TO iShares Core Canadian Government Bond Index ETF | 1.57% | 1.65% | 3.54% | 5.57% | -12.25% | -3.11% | 8.14% | 6.10% | 1.34% | 1.71% |
Correlation
The correlation between XSB.TO and XGB.TO is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2006 | 0.66 |
Over the past year, XSB.TO and XGB.TO have become more correlated (0.86) than their long-term average of 0.66, meaning their price movements have been converging.
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Return for Risk
XSB.TO vs. XGB.TO — Risk / Return Rank
XSB.TO
XGB.TO
XSB.TO vs. XGB.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 Core Canadian Government Bond Index ETF (XGB.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 | XGB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.89 | ||
| Sortino ratioReturn per unit of downside risk | +1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.11 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 0.94 | +1.07 |
| Martin ratioReturn relative to average drawdown | 6.68 | 2.02 | +4.66 |
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 | XGB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 0.59 | +0.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.75 | 0.02 | +0.73 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.17 | +0.41 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.11 | 0.52 | +0.59 |
Drawdowns
XSB.TO vs. XGB.TO - Drawdown Comparison
The maximum XSB.TO drawdown since its inception was -8.65%, smaller than the maximum XGB.TO drawdown of -19.53%. Use the drawdown chart below to compare losses from any high point for XSB.TO and XGB.TO.
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Drawdown Indicators
| XSB.TO | XGB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.65% | -19.53% | +10.88% |
Max Drawdown (1Y)Largest decline over 1 year | -1.47% | -2.86% | +1.39% |
Max Drawdown (3Y)Largest decline over 3 years | -1.47% | -5.83% | +4.36% |
Max Drawdown (5Y)Largest decline over 5 years | -6.99% | -16.44% | +9.45% |
Max Drawdown (10Y)Largest decline over 10 years | -8.65% | -19.53% | +10.88% |
Current DrawdownCurrent decline from peak | -0.12% | -5.25% | +5.13% |
Average DrawdownAverage peak-to-trough decline | -0.83% | -3.94% | +3.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 1.33% | -0.89% |
Volatility
XSB.TO vs. XGB.TO - Volatility Comparison
The current volatility for iShares Core Canadian Short Term Bond Index ETF (XSB.TO) is 0.78%, while iShares Core Canadian Government Bond Index ETF (XGB.TO) has a volatility of 1.70%. This indicates that XSB.TO experiences smaller price fluctuations and is considered to be less risky than XGB.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 | XGB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 1.70% | -0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 1.68% | 3.49% | -1.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.00% | 4.53% | -2.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.72% | 6.92% | -4.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.40% | 5.99% | -2.59% |
XSB.TO vs. XGB.TO - Expense Ratio Comparison
XSB.TO has a 0.10% expense ratio, which is lower than XGB.TO's 0.13% 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. XGB.TO - Dividend Comparison
XSB.TO's dividend yield for the trailing twelve months is around 3.11%, which matches XGB.TO's 3.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XGB.TO iShares Core Canadian Government Bond Index ETF | 3.11% | 3.11% | 2.95% | 2.73% | 2.64% | 2.25% | 2.12% | 2.32% | 2.44% | 2.41% | 2.53% | 2.62% |
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 XGB.TO have a correlation of 0.86, 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 0.13% for XGB.TO.
XSB.TO tracks Morningstar Can 1-5Y Core Bd GR CAD, while XGB.TO tracks Morningstar Can Core Bd GR CAD. Their fees differ too: 0.10% for XSB.TO and 0.13% for XGB.TO.
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