XSH.TO vs. VSC.TO
XSH.TO (iShares Core Canadian Short Term Corporate Bond Index ETF) and VSC.TO (Vanguard Canadian Short-Term Corporate Bond Index ETF) are both Short-Term Bond funds - XSH.TO tracks the FTSE Canada Universe + Maple Short Term Corporate Bond Index while VSC.TO tracks the Bloomberg Global Aggregate Canadian 1-5 Year Corporate Float Adjusted Index. Both are passively managed. Over the past 10 years, XSH.TO returned 2.79%/yr vs 2.64%/yr for VSC.TO. Their 0.56 correlation means they have sometimes moved together and sometimes differently. XSH.TO charges 0.10%/yr vs 0.11%/yr for VSC.TO.
Performance
XSH.TO vs. VSC.TO - Performance Comparison
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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 VSC.TO's 1.26% return. Over the past 10 years, XSH.TO has outperformed VSC.TO with an annualized return of 2.79%, while VSC.TO has yielded a comparatively lower 2.64% annualized 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%
VSC.TO
- 1D
- -0.08%
- 1M
- -0.17%
- 6M
- 0.69%
- YTD
- 1.26%
- 1Y
- 3.00%
- 3Y*
- 5.60%
- 5Y*
- 2.59%
- 10Y*
- 2.64%
- ALL TIME*
- 2.67%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$1.48M | CA$1.57M | CA$1.45M | |
| CA$1.66M | CA$1.41M | CA$1.29M |
XSH.TO vs. VSC.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 | 1.42% | 4.61% | 7.11% | 6.80% | -4.52% | -0.81% | 6.28% | 5.02% | 1.28% | 0.78% |
VSC.TO Vanguard Canadian Short-Term Corporate Bond Index ETF | 1.26% | 4.32% | 6.10% | 6.75% | -4.23% | -0.97% | 6.27% | 4.72% | 1.19% | 0.92% |
Correlation
The correlation between XSH.TO and VSC.TO is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.74 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.81 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.65 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2012 | 0.56 |
The correlation between XSH.TO and VSC.TO shifts across timeframes, from 0.56 (all time) to 0.81 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XSH.TO vs. VSC.TO — Risk / Return Rank
XSH.TO
VSC.TO
XSH.TO vs. VSC.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 Vanguard Canadian Short-Term Corporate Bond Index ETF (VSC.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.TO | VSC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.31 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.22 | 2.10 | +0.12 |
| Martin ratioReturn relative to average drawdown | 8.67 | 8.30 | +0.37 |
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Drawdowns
XSH.TO vs. VSC.TO - Drawdown Comparison
The maximum XSH.TO drawdown since its inception was -14.24%, smaller than the maximum VSC.TO drawdown of -15.87%. Use the drawdown chart below to compare losses from any high point for XSH.TO and VSC.TO.
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Drawdown Indicators
| XSH.TO | VSC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.24% | -15.87% | +1.63% |
Max Drawdown (1Y)Largest decline over 1 year | -1.51% | -1.53% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -1.51% | -1.53% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -7.80% | -7.68% | -0.12% |
Max Drawdown (10Y)Largest decline over 10 years | -14.24% | -15.87% | +1.63% |
Current DrawdownCurrent decline from peak | -0.30% | -0.37% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -0.92% | -0.96% | +0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 0.39% | -0.01% |
Volatility
XSH.TO vs. VSC.TO - Volatility Comparison
The current volatility for iShares Core Canadian Short Term Corporate Bond Index ETF (XSH.TO) is 0.59%, while Vanguard Canadian Short-Term Corporate Bond Index ETF (VSC.TO) has a volatility of 0.64%. This indicates that XSH.TO experiences smaller price fluctuations and is considered to be less risky than VSC.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSH.TO | VSC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 0.64% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 1.85% | 1.69% | +0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.21% | 2.04% | +0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.85% | 2.76% | +0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 5.15% | -0.73% |
XSH.TO vs. VSC.TO - Expense Ratio Comparison
XSH.TO has a 0.10% expense ratio, which is lower than VSC.TO's 0.11% 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. VSC.TO - Dividend Comparison
XSH.TO's dividend yield for the trailing twelve months is around 3.94%, more than VSC.TO's 3.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VSC.TO Vanguard Canadian Short-Term Corporate Bond Index ETF | 3.40% | 3.32% | 2.99% | 3.14% | 2.85% | 2.59% | 2.64% | 2.71% | 2.77% | 2.75% | 2.89% | 3.05% |
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 VSC.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, 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 0.11% for VSC.TO.
XSH.TO tracks FTSE Canada Universe + Maple Short Term Corporate Bond Index, while VSC.TO tracks Bloomberg Global Aggregate Canadian 1-5 Year Corporate Float Adjusted Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.10% for XSH.TO and 0.11% for VSC.TO.
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