XSH.TO vs. CMR.TO
XSH.TO (iShares Core Canadian Short Term Corporate Bond Index ETF) and CMR.TO (iShares Premium Money Market ETF) are both exchange-traded funds - XSH.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD, while CMR.TO is a Money Market fund actively managed by iShares. XSH.TO is passively managed, while CMR.TO is actively managed. Over the past 10 years, XSH.TO returned 2.82%/yr vs 1.89%/yr for CMR.TO. At a 0.00 correlation, their price movements are largely independent. XSH.TO charges 0.10%/yr vs 0.14%/yr for CMR.TO.
Performance
XSH.TO vs. CMR.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 CMR.TO's 0.97% return. Over the past 10 years, XSH.TO has outperformed CMR.TO with an annualized return of 2.82%, while CMR.TO has yielded a comparatively lower 1.89% 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%
CMR.TO
- 1D
- 0.00%
- 1M
- 0.19%
- YTD
- 0.97%
- 6M
- 1.05%
- 1Y
- 2.37%
- 3Y*
- 3.73%
- 5Y*
- 2.94%
- 10Y*
- 1.89%
XSH.TO vs. CMR.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% |
CMR.TO iShares Premium Money Market ETF | 0.97% | 2.68% | 4.70% | 4.70% | 1.71% | 0.00% | 0.47% | 1.63% | 1.29% | 0.63% |
Correlation
The correlation between XSH.TO and CMR.TO is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2011 | 0.00 |
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. CMR.TO — Risk / Return Rank
XSH.TO
CMR.TO
XSH.TO vs. CMR.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 Premium Money Market ETF (CMR.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 | CMR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.81 | ||
| Sortino ratioReturn per unit of downside risk | -18.62 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 9.57 | -8.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 25.44 | -22.87 |
| Martin ratioReturn relative to average drawdown | 10.05 | 187.33 | -177.28 |
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 | CMR.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.79 | 10.61 | -8.81 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.02 | 10.67 | -9.66 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.64 | 7.02 | -6.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 3.84 | -3.10 |
Drawdowns
XSH.TO vs. CMR.TO - Drawdown Comparison
The maximum XSH.TO drawdown since its inception was -14.24%, which is greater than CMR.TO's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for XSH.TO and CMR.TO.
Loading charts...
Drawdown Indicators
| XSH.TO | CMR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.24% | -0.52% | -13.72% |
Max Drawdown (1Y)Largest decline over 1 year | -1.51% | -0.09% | -1.42% |
Max Drawdown (3Y)Largest decline over 3 years | -1.51% | -0.09% | -1.42% |
Max Drawdown (5Y)Largest decline over 5 years | -7.80% | -0.09% | -7.71% |
Max Drawdown (10Y)Largest decline over 10 years | -14.24% | -0.14% | -14.10% |
Current DrawdownCurrent decline from peak | 0.00% | -0.02% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -0.93% | -0.01% | -0.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 0.01% | +0.37% |
Volatility
XSH.TO vs. CMR.TO - Volatility Comparison
iShares Core Canadian Short Term Corporate Bond Index ETF (XSH.TO) has a higher volatility of 0.80% compared to iShares Premium Money Market ETF (CMR.TO) at 0.05%. This indicates that XSH.TO's price experiences larger fluctuations and is considered to be riskier than CMR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XSH.TO | CMR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.80% | 0.05% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 1.83% | 0.18% | +1.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.16% | 0.22% | +1.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.83% | 0.28% | +2.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 0.27% | +4.15% |
XSH.TO vs. CMR.TO - Expense Ratio Comparison
XSH.TO has a 0.10% expense ratio, which is lower than CMR.TO's 0.14% 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
XSH.TO vs. CMR.TO - Dividend Comparison
XSH.TO's dividend yield for the trailing twelve months is around 3.89%, more than CMR.TO's 2.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMR.TO iShares Premium Money Market ETF | 2.48% | 2.81% | 4.56% | 4.64% | 1.62% | 0.00% | 0.47% | 1.60% | 1.33% | 0.61% | 0.43% | 0.48% |
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 CMR.TO have a correlation of -0.07, 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 0.14% for CMR.TO.
XSH.TO is categorized as Canadian Government Bonds, while CMR.TO is Money Market. Their fees differ too: 0.10% for XSH.TO and 0.14% for CMR.TO.
Find the right allocation for XSH.TO and CMR.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