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XSH.TO vs. TSTX-U.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XSH.TO vs. TSTX-U.TO

Last updated Aug 4, 2026
Documentation

XSH.TO (iShares Core Canadian Short Term Corporate Bond Index ETF) and TSTX-U.TO (Global X 1-3 Year U.S. Treasury Bond Index ETF) are both Short-Term Bond funds - XSH.TO tracks the FTSE Canada Universe + Maple Short Term Corporate Bond Index while TSTX-U.TO tracks the ICE U.S. Treasury 1-3 Year Bond Index. Both are passively managed. Their 0.41 correlation means their historical movements had little consistent relationship. XSH.TO charges 0.10%/yr vs 0.15%/yr for TSTX-U.TO.

Performance

XSH.TO vs. TSTX-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core Canadian Short Term Corporate Bond Index ETF (XSH.TO) and Global X 1-3 Year U.S. Treasury Bond Index ETF (TSTX-U.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XSH.TO achieves a 1.42% return, which is significantly higher than TSTX-U.TO's 0.36% return.

XSH.TO

1D
-0.11%
1M
-0.19%
6M
0.83%
YTD
1.42%
1Y
3.11%
3Y*
6.10%
5Y*
2.84%
10Y*
2.79%
ALL TIME*
2.84%

TSTX-U.TO

1D
-0.08%
1M
-0.02%
6M
0.46%
YTD
0.36%
1Y
—
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

TSTX-U.TO

Global X 1-3 Year U.S. Treasury Bond Index ETF
CA$21.76KCA$19.34KCA$39.23K

XSH.TO

iShares Core Canadian Short Term Corporate Bond Index ETF
CA$1.66MCA$1.41MCA$1.29M

XSH.TO vs. TSTX-U.TO - Yearly Performance Comparison

2026 (YTD)2025
XSH.TO
iShares Core Canadian Short Term Corporate Bond Index ETF		1.42%0.39%
TSTX-U.TO
Global X 1-3 Year U.S. Treasury Bond Index ETF		0.36%1.22%

Correlation

The correlation between XSH.TO and TSTX-U.TO is 0.41, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (All Time)
Calculated using the full available price history since Oct 9, 2025

0.41

Compare stocks, funds, or ETFs

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iShares Core Canadian Short Term Corporate Bond Index ETF

Global X 1-3 Year U.S. Treasury Bond Index ETF

Often compared with XSH.TO:
XSH.TO vs. XSB.TOXSH.TO vs. XCB.TOXSH.TO vs. XBB.TOXSH.TO vs. XFR.TOXSH.TO vs. ZMMK.TOXSH.TO vs. ZAG.TOXSH.TO vs. ZCS.TO
Often compared with TSTX-U.TO:
TSTX-U.TO vs. TCSB.TOTSTX-U.TO vs. ZSDB.TOTSTX-U.TO vs. VSC.TOTSTX-U.TO vs. HSAV.TOTSTX-U.TO vs. CBIL.TOTSTX-U.TO vs. CASH.TOTSTX-U.TO vs. HBNK.TO

Return for Risk

XSH.TO vs. TSTX-U.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
XSH.TO
XSH.TO Risk / Return Rank: 6464
Overall Rank
XSH.TO Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
XSH.TO Sortino Ratio Rank: 6262
Sortino Ratio Rank
XSH.TO Omega Ratio Rank: 6868
Omega Ratio Rank
XSH.TO Calmar Ratio Rank: 6161
Calmar Ratio Rank
XSH.TO Martin Ratio Rank: 6969
Martin Ratio Rank
TSTX-U.TO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XSH.TO vs. TSTX-U.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 Global X 1-3 Year U.S. Treasury Bond Index ETF (TSTX-U.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.

XSH.TOTSTX-U.TODifference
Sharpe ratioReturn per unit of total volatility
1.52

—

—

Sortino ratioReturn per unit of downside risk
2.13

—

—

Omega ratioGain probability vs. loss probability

1.29

—

—

Calmar ratioReturn relative to maximum drawdown

2.22

—

—

Martin ratioReturn relative to average drawdown

8.67

—

—

XSH.TO vs. TSTX-U.TO - Sharpe Ratio Comparison

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Drawdowns

XSH.TO vs. TSTX-U.TO - Drawdown Comparison

The maximum XSH.TO drawdown since its inception was -14.24%, which is greater than TSTX-U.TO's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for XSH.TO and TSTX-U.TO.

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Drawdown Indicators

XSH.TOTSTX-U.TODifference

Max Drawdown

Largest peak-to-trough decline

-14.24%

-0.90%

-13.34%

Max Drawdown (1Y)

Largest decline over 1 year

-1.51%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-1.51%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-7.80%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-14.24%

—

—

Current Drawdown

Current decline from peak

-0.30%

-0.21%

-0.09%

Average Drawdown

Average peak-to-trough decline

-0.92%

-0.26%

-0.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.38%

—

—

Volatility

XSH.TO vs. TSTX-U.TO - Volatility Comparison

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Volatility by Period

XSH.TOTSTX-U.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.59%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

1.85%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

2.21%

1.66%

+0.55%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.85%

1.66%

+1.19%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.42%

1.66%

+2.76%

XSH.TO vs. TSTX-U.TO - Expense Ratio Comparison

XSH.TO has a 0.10% expense ratio, which is lower than TSTX-U.TO's 0.15% 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. TSTX-U.TO - Dividend Comparison

XSH.TO's dividend yield for the trailing twelve months is around 3.94%, more than TSTX-U.TO's 3.02% yield.

PositionTTM20252024202320222021202020192018201720162015
TSTX-U.TO
Global X 1-3 Year U.S. Treasury Bond Index ETF		3.02%0.84%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XSH.TO
iShares Core Canadian Short Term Corporate Bond Index ETF		3.94%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 TSTX-U.TO have a correlation of 0.41, 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 0.15% for TSTX-U.TO.

XSH.TO tracks FTSE Canada Universe + Maple Short Term Corporate Bond Index, while TSTX-U.TO tracks ICE U.S. Treasury 1-3 Year Bond Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.10% for XSH.TO and 0.15% for TSTX-U.TO.

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