XSH.TO vs. CBO.TO
XSH.TO (iShares Core Canadian Short Term Corporate Bond Index ETF) and CBO.TO (iShares 1-5 Year Laddered Corporate Bond Index ETF) are both Canadian Government Bonds funds from iShares tracking the Morningstar Can 1-5Y Core Bd GR CAD. Both are passively managed. Over the past 10 years, XSH.TO returned 2.82%/yr vs 2.50%/yr for CBO.TO. A 0.52 correlation means they provide meaningful diversification when combined. XSH.TO charges 0.10%/yr vs 0.28%/yr for CBO.TO.
Performance
XSH.TO vs. CBO.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XSH.TO achieves a 1.33% return, which is significantly higher than CBO.TO's 1.02% return. Over the past 10 years, XSH.TO has outperformed CBO.TO with an annualized return of 2.82%, while CBO.TO has yielded a comparatively lower 2.50% annualized return.
XSH.TO
- 1D
- 0.00%
- 1M
- 1.13%
- YTD
- 1.33%
- 6M
- 1.34%
- 1Y
- 3.85%
- 3Y*
- 6.05%
- 5Y*
- 2.86%
- 10Y*
- 2.82%
CBO.TO
- 1D
- -0.05%
- 1M
- 0.94%
- YTD
- 1.02%
- 6M
- 1.01%
- 1Y
- 3.73%
- 3Y*
- 5.68%
- 5Y*
- 2.60%
- 10Y*
- 2.50%
XSH.TO vs. CBO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSH.TO iShares Core Canadian Short Term Corporate Bond Index ETF | 1.33% | 4.61% | 7.11% | 6.80% | -4.52% | -0.81% | 6.28% | 5.02% | 1.28% | 0.78% |
CBO.TO iShares 1-5 Year Laddered Corporate Bond Index ETF | 1.02% | 4.69% | 6.82% | 6.47% | -4.89% | -1.04% | 5.84% | 4.54% | 1.27% | 0.52% |
Correlation
The correlation between XSH.TO and CBO.TO is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2011 | 0.52 |
The correlation between XSH.TO and CBO.TO shifts across timeframes, from 0.52 (all time) to 0.78 (5 years), reflecting how their relationship changes across market environments.
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
XSH.TO vs. CBO.TO — Risk / Return Rank
XSH.TO
CBO.TO
XSH.TO vs. CBO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Canadian Short Term Corporate Bond Index ETF (XSH.TO) and iShares 1-5 Year Laddered Corporate Bond Index ETF (CBO.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.
| XSH.TO | CBO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.29 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 2.32 | +0.24 |
| Martin ratioReturn relative to average drawdown | 10.05 | 8.72 | +1.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| XSH.TO | CBO.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.79 | 1.57 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.02 | 0.88 | +0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.64 | 0.70 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 0.94 | -0.20 |
Drawdowns
XSH.TO vs. CBO.TO - Drawdown Comparison
The maximum XSH.TO drawdown since its inception was -14.24%, which is greater than CBO.TO's maximum drawdown of -11.67%. Use the drawdown chart below to compare losses from any high point for XSH.TO and CBO.TO.
Loading charts...
Drawdown Indicators
| XSH.TO | CBO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.24% | -11.67% | -2.57% |
Max Drawdown (1Y)Largest decline over 1 year | -1.51% | -1.61% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -1.51% | -1.61% | +0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -7.80% | -8.22% | +0.42% |
Max Drawdown (10Y)Largest decline over 10 years | -14.24% | -11.67% | -2.57% |
Current DrawdownCurrent decline from peak | 0.00% | -0.05% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -0.93% | -0.96% | +0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 0.43% | -0.05% |
Volatility
XSH.TO vs. CBO.TO - Volatility Comparison
iShares Core Canadian Short Term Corporate Bond Index ETF (XSH.TO) and iShares 1-5 Year Laddered Corporate Bond Index ETF (CBO.TO) have volatilities of 0.80% and 0.83%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XSH.TO | CBO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.80% | 0.83% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.83% | 1.86% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.16% | 2.39% | -0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.83% | 2.97% | -0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 3.59% | +0.83% |
XSH.TO vs. CBO.TO - Expense Ratio Comparison
XSH.TO has a 0.10% expense ratio, which is lower than CBO.TO's 0.28% expense ratio.
Dividends
XSH.TO vs. CBO.TO - Dividend Comparison
XSH.TO's dividend yield for the trailing twelve months is around 3.89%, more than CBO.TO's 3.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBO.TO iShares 1-5 Year Laddered Corporate Bond Index ETF | 3.45% | 3.37% | 3.09% | 2.81% | 2.67% | 2.55% | 2.55% | 2.65% | 2.74% | 2.80% | 3.03% | 3.86% |
XSH.TO iShares Core Canadian Short Term Corporate Bond Index ETF | 3.89% | 3.82% | 3.64% | 3.24% | 2.97% | 2.65% | 2.61% | 2.80% | 2.86% | 2.93% | 3.08% | 3.18% |
Frequently Asked Questions
XSH.TO and CBO.TO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XSH.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSH.TO is cheaper with a 0.10% expense ratio, compared with 0.28% for CBO.TO.
Both ETFs track Morningstar Can 1-5Y Core Bd GR CAD. Their fees differ too: 0.10% for XSH.TO and 0.28% for CBO.TO.
Find the right allocation for XSH.TO and CBO.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