XSEM.TO vs. CLF.TO
XSEM.TO (iShares ESG Aware MSCI Emerging Markets Index ETF) and CLF.TO (iShares 1-5 Year Laddered Government Bond Index ETF) are both exchange-traded funds - XSEM.TO is a Emerging Markets Equities fund tracking the Morningstar EM GR CAD, while CLF.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD. Both are passively managed. Over the past 5 years, XSEM.TO returned 6.83%/yr vs 1.73%/yr for CLF.TO. At a 0.06 correlation, their price movements are largely independent. XSEM.TO charges 0.32%/yr vs 0.17%/yr for CLF.TO.
Performance
XSEM.TO vs. CLF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XSEM.TO achieves a 16.27% return, which is significantly higher than CLF.TO's 0.90% return.
XSEM.TO
- 1D
- -1.31%
- 1M
- -7.56%
- 6M
- 11.39%
- YTD
- 16.27%
- 1Y
- 28.06%
- 3Y*
- 19.68%
- 5Y*
- 6.83%
- 10Y*
- —
CLF.TO
- 1D
- -0.11%
- 1M
- -0.10%
- 6M
- 0.62%
- YTD
- 0.90%
- 1Y
- 2.98%
- 3Y*
- 4.25%
- 5Y*
- 1.73%
- 10Y*
- 1.60%
XSEM.TO vs. CLF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XSEM.TO iShares ESG Aware MSCI Emerging Markets Index ETF | 16.27% | 27.51% | 14.79% | 7.01% | -17.30% | -3.60% | 15.64% | 5.18% |
CLF.TO iShares 1-5 Year Laddered Government Bond Index ETF | 0.90% | 3.36% | 4.82% | 4.58% | -3.98% | -1.27% | 4.82% | 1.01% |
Correlation
The correlation between XSEM.TO and CLF.TO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2019 | 0.06 |
Over the past year, XSEM.TO and CLF.TO have become more correlated (0.28) than their long-term average of 0.06, meaning their price movements have been converging.
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Return for Risk
XSEM.TO vs. CLF.TO — Risk / Return Rank
XSEM.TO
CLF.TO
XSEM.TO vs. CLF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares ESG Aware MSCI Emerging Markets Index ETF (XSEM.TO) and iShares 1-5 Year Laddered Government Bond Index ETF (CLF.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.
| XSEM.TO | CLF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.28 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 2.21 | +0.08 |
| Martin ratioReturn relative to average drawdown | 7.11 | 6.52 | +0.59 |
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Drawdowns
XSEM.TO vs. CLF.TO - Drawdown Comparison
The maximum XSEM.TO drawdown since its inception was -37.09%, which is greater than CLF.TO's maximum drawdown of -6.91%. Use the drawdown chart below to compare losses from any high point for XSEM.TO and CLF.TO.
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Drawdown Indicators
| XSEM.TO | CLF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.09% | -6.91% | -30.18% |
Max Drawdown (1Y)Largest decline over 1 year | -12.30% | -1.35% | -10.95% |
Max Drawdown (3Y)Largest decline over 3 years | -15.18% | -1.40% | -13.78% |
Max Drawdown (5Y)Largest decline over 5 years | -32.59% | -6.80% | -25.79% |
Max Drawdown (10Y)Largest decline over 10 years | — | -6.91% | — |
Current DrawdownCurrent decline from peak | -11.27% | -0.40% | -10.87% |
Average DrawdownAverage peak-to-trough decline | -13.08% | -1.07% | -12.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.95% | 0.46% | +3.49% |
Volatility
XSEM.TO vs. CLF.TO - Volatility Comparison
iShares ESG Aware MSCI Emerging Markets Index ETF (XSEM.TO) has a higher volatility of 10.55% compared to iShares 1-5 Year Laddered Government Bond Index ETF (CLF.TO) at 0.49%. This indicates that XSEM.TO's price experiences larger fluctuations and is considered to be riskier than CLF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSEM.TO | CLF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.55% | 0.49% | +10.06% |
Volatility (6M)Calculated over the trailing 6-month period | 21.58% | 1.53% | +20.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.51% | 2.01% | +21.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.07% | 2.99% | +15.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.83% | 3.36% | +15.47% |
XSEM.TO vs. CLF.TO - Expense Ratio Comparison
XSEM.TO has a 0.32% expense ratio, which is higher than CLF.TO's 0.17% expense ratio.
Dividends
XSEM.TO vs. CLF.TO - Dividend Comparison
XSEM.TO's dividend yield for the trailing twelve months is around 1.61%, less than CLF.TO's 2.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLF.TO iShares 1-5 Year Laddered Government Bond Index ETF | 2.26% | 2.22% | 2.22% | 2.23% | 2.10% | 1.98% | 2.15% | 2.46% | 2.67% | 2.91% | 3.12% | 3.29% |
XSEM.TO iShares ESG Aware MSCI Emerging Markets Index ETF | 1.61% | 1.78% | 2.08% | 1.10% | 2.25% | 2.45% | 1.14% | 2.41% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XSEM.TO and CLF.TO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CLF.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CLF.TO is cheaper with a 0.17% expense ratio, compared with 0.32% for XSEM.TO.
XSEM.TO is categorized as Emerging Markets Equities, while CLF.TO is Canadian Government Bonds. XSEM.TO tracks Morningstar EM GR CAD, while CLF.TO tracks Morningstar Can 1-5Y Core Bd GR CAD. Their fees differ too: 0.32% for XSEM.TO and 0.17% for CLF.TO.
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