XSB.TO vs. XRB.TO
XSB.TO (iShares Core Canadian Short Term Bond Index ETF) and XRB.TO (iShares Canadian Real Return Bond Index 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 XRB.TO is a Inflation-Protected Bonds fund tracking the FTSE Canada Real Return Bond Index. Both are passively managed. Over the past 10 years, XSB.TO returned 1.96%/yr vs 0.06%/yr for XRB.TO. At a 0.48 correlation, their price movements are largely independent. XSB.TO charges 0.10%/yr vs 0.39%/yr for XRB.TO.
Performance
XSB.TO vs. XRB.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 XRB.TO's 2.56% return. Over the past 10 years, XSB.TO has outperformed XRB.TO with an annualized return of 1.96%, while XRB.TO has yielded a comparatively lower 0.06% 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%
XRB.TO
- 1D
- -0.13%
- 1M
- 1.21%
- YTD
- 2.56%
- 6M
- 0.86%
- 1Y
- 3.06%
- 3Y*
- 1.50%
- 5Y*
- -1.66%
- 10Y*
- 0.06%
XSB.TO vs. XRB.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% |
XRB.TO iShares Canadian Real Return Bond Index ETF | 2.56% | 0.05% | 3.95% | -2.15% | -15.01% | -1.30% | 12.11% | 5.93% | -1.23% | -0.11% |
Correlation
The correlation between XSB.TO and XRB.TO is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Dec 28, 2005 | 0.48 |
Over the past year, XSB.TO and XRB.TO have become more correlated (0.74) than their long-term average of 0.48, meaning their price movements have been converging.
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Return for Risk
XSB.TO vs. XRB.TO — Risk / Return Rank
XSB.TO
XRB.TO
XSB.TO vs. XRB.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 Canadian Real Return Bond Index ETF (XRB.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 | XRB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.04 | ||
| Sortino ratioReturn per unit of downside risk | +1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.08 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 0.87 | +1.15 |
| Martin ratioReturn relative to average drawdown | 6.68 | 1.73 | +4.95 |
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 | XRB.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 0.45 | +1.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.75 | -0.14 | +0.89 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.01 | +0.58 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.11 | 0.27 | +0.84 |
Drawdowns
XSB.TO vs. XRB.TO - Drawdown Comparison
The maximum XSB.TO drawdown since its inception was -8.65%, smaller than the maximum XRB.TO drawdown of -26.58%. Use the drawdown chart below to compare losses from any high point for XSB.TO and XRB.TO.
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Drawdown Indicators
| XSB.TO | XRB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.65% | -26.58% | +17.93% |
Max Drawdown (1Y)Largest decline over 1 year | -1.47% | -3.55% | +2.08% |
Max Drawdown (3Y)Largest decline over 3 years | -1.47% | -10.65% | +9.18% |
Max Drawdown (5Y)Largest decline over 5 years | -6.99% | -26.58% | +19.59% |
Max Drawdown (10Y)Largest decline over 10 years | -8.65% | -26.58% | +17.93% |
Current DrawdownCurrent decline from peak | -0.12% | -13.56% | +13.44% |
Average DrawdownAverage peak-to-trough decline | -0.83% | -7.09% | +6.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 1.78% | -1.34% |
Volatility
XSB.TO vs. XRB.TO - Volatility Comparison
The current volatility for iShares Core Canadian Short Term Bond Index ETF (XSB.TO) is 0.78%, while iShares Canadian Real Return Bond Index ETF (XRB.TO) has a volatility of 2.72%. This indicates that XSB.TO experiences smaller price fluctuations and is considered to be less risky than XRB.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 | XRB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 2.72% | -1.94% |
Volatility (6M)Calculated over the trailing 6-month period | 1.68% | 5.11% | -3.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.00% | 6.85% | -4.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.72% | 11.91% | -9.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.40% | 11.35% | -7.95% |
XSB.TO vs. XRB.TO - Expense Ratio Comparison
XSB.TO has a 0.10% expense ratio, which is lower than XRB.TO's 0.39% expense ratio.
Dividends
XSB.TO vs. XRB.TO - Dividend Comparison
XSB.TO's dividend yield for the trailing twelve months is around 3.11%, less than XRB.TO's 3.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XRB.TO iShares Canadian Real Return Bond Index ETF | 3.63% | 3.73% | 2.36% | 2.36% | 1.83% | 1.23% | 1.36% | 1.72% | 1.74% | 1.69% | 1.58% | 1.61% |
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 XRB.TO have a correlation of 0.74, 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 0.39% for XRB.TO.
XSB.TO is categorized as Canadian Government Bonds, while XRB.TO is Inflation-Protected Bonds. XSB.TO tracks Morningstar Can 1-5Y Core Bd GR CAD, while XRB.TO tracks FTSE Canada Real Return Bond Index. Their fees differ too: 0.10% for XSB.TO and 0.39% for XRB.TO.
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