XSB.TO vs. XLK
XSB.TO (iShares Core Canadian Short Term Bond Index ETF) and XLK (State Street Technology Select Sector SPDR 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 XLK is a Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index. Both are passively managed. Over the past 10 years, XSB.TO returned 1.97%/yr vs 26.27%/yr for XLK. At a correlation of -0.07, they often move in opposite directions. XSB.TO charges 0.10%/yr vs 0.08%/yr for XLK.
Performance
XSB.TO vs. XLK - Performance Comparison
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Different Trading Currencies
XSB.TO is traded in CAD, while XLK is traded in USD. To make them comparable, the XLK values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XSB.TO achieves a 1.18% return, which is significantly lower than XLK's 31.13% return. Over the past 10 years, XSB.TO has underperformed XLK with an annualized return of 1.97%, while XLK has yielded a comparatively higher 26.27% annualized return.
XSB.TO
- 1D
- 0.00%
- 1M
- 0.82%
- YTD
- 1.18%
- 6M
- 1.40%
- 1Y
- 3.30%
- 3Y*
- 4.97%
- 5Y*
- 2.05%
- 10Y*
- 1.97%
XLK
- 1D
- 1.05%
- 1M
- 4.96%
- YTD
- 31.13%
- 6M
- 30.81%
- 1Y
- 59.71%
- 3Y*
- 32.23%
- 5Y*
- 25.59%
- 10Y*
- 26.27%
XSB.TO vs. XLK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSB.TO iShares Core Canadian Short Term Bond Index ETF | 1.18% | 3.70% | 5.87% | 4.67% | -4.04% | -1.11% | 5.20% | 3.20% | 1.60% | 0.13% |
XLK State Street Technology Select Sector SPDR ETF | 31.13% | 18.92% | 31.93% | 52.31% | -23.15% | 34.68% | 40.21% | 43.68% | 6.59% | 25.17% |
Correlation
The correlation between XSB.TO and XLK is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | -0.07 |
The correlation between XSB.TO and XLK shifts across timeframes, from -0.07 (all time) to 0.13 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XSB.TO vs. XLK — Risk / Return Rank
XSB.TO
XLK
XSB.TO vs. XLK - 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 State Street Technology Select Sector SPDR ETF (XLK). 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 | XLK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.41 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | 3.52 | -1.33 |
| Martin ratioReturn relative to average drawdown | 7.28 | 10.37 | -3.09 |
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Drawdowns
XSB.TO vs. XLK - Drawdown Comparison
The maximum XSB.TO drawdown since its inception was -8.65%, smaller than the maximum XLK drawdown of -38.68%. Use the drawdown chart below to compare losses from any high point for XSB.TO and XLK.
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Drawdown Indicators
| XSB.TO | XLK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.65% | -38.68% | +30.03% |
Max Drawdown (1Y)Largest decline over 1 year | -1.47% | -16.16% | +14.69% |
Max Drawdown (3Y)Largest decline over 3 years | -1.47% | -26.35% | +24.88% |
Max Drawdown (5Y)Largest decline over 5 years | -6.99% | -29.64% | +22.65% |
Max Drawdown (10Y)Largest decline over 10 years | -8.65% | -29.64% | +20.99% |
Current DrawdownCurrent decline from peak | 0.00% | -5.87% | +5.87% |
Average DrawdownAverage peak-to-trough decline | -0.79% | -7.56% | +6.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 5.48% | -5.04% |
Volatility
XSB.TO vs. XLK - Volatility Comparison
The current volatility for iShares Core Canadian Short Term Bond Index ETF (XSB.TO) is 0.71%, while State Street Technology Select Sector SPDR ETF (XLK) has a volatility of 10.83%. This indicates that XSB.TO experiences smaller price fluctuations and is considered to be less risky than XLK 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 | XLK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 10.83% | -10.12% |
Volatility (6M)Calculated over the trailing 6-month period | 1.61% | 19.12% | -17.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.00% | 22.68% | -20.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.72% | 25.91% | -23.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.40% | 25.57% | -22.17% |
XSB.TO vs. XLK - Expense Ratio Comparison
XSB.TO has a 0.10% expense ratio, which is higher than XLK's 0.08% expense ratio. However, 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. XLK - Dividend Comparison
XSB.TO's dividend yield for the trailing twelve months is around 3.10%, more than XLK's 0.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XLK State Street Technology Select Sector SPDR ETF | 0.41% | 0.54% | 0.66% | 0.76% | 1.04% | 0.65% | 0.92% | 1.16% | 1.60% | 1.37% | 1.74% | 1.79% |
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 XLK have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XLK is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XLK is cheaper with a 0.08% expense ratio, compared with 0.10% for XSB.TO.
XSB.TO is categorized as Canadian Government Bonds, while XLK is Technology Equities. XSB.TO tracks Morningstar Can 1-5Y Core Bd GR CAD, while XLK tracks S&P Technology Select Sector Daily Capped 35/20 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.10% for XSB.TO and 0.08% for XLK.
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