XSH.TO vs. XSHG.TO
XSH.TO (iShares Core Canadian Short Term Corporate Bond Index ETF) and XSHG.TO (iShares ESG Advanced 1-5 Year Canadian 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 3 years, XSH.TO returned 6.05%/yr vs 5.72%/yr for XSHG.TO. A 0.54 correlation means they provide meaningful diversification when combined. XSH.TO charges 0.10%/yr vs 0.17%/yr for XSHG.TO.
Performance
XSH.TO vs. XSHG.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XSH.TO achieves a 1.33% return, which is significantly higher than XSHG.TO's 1.14% 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%
XSHG.TO
- 1D
- -0.03%
- 1M
- 0.96%
- YTD
- 1.14%
- 6M
- 1.23%
- 1Y
- 3.54%
- 3Y*
- 5.72%
- 5Y*
- —
- 10Y*
- —
XSH.TO vs. XSHG.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XSH.TO iShares Core Canadian Short Term Corporate Bond Index ETF | 1.33% | 4.61% | 7.11% | 6.80% | -4.52% | -0.66% |
XSHG.TO iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF | 1.14% | 4.53% | 6.86% | 6.41% | -4.26% | -0.58% |
Correlation
The correlation between XSH.TO and XSHG.TO is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jul 28, 2021 | 0.54 |
The correlation between XSH.TO and XSHG.TO shifts across timeframes, from 0.54 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XSH.TO vs. XSHG.TO — Risk / Return Rank
XSH.TO
XSHG.TO
XSH.TO vs. XSHG.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 ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF (XSHG.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 | XSHG.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.42 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 2.47 | +0.09 |
| Martin ratioReturn relative to average drawdown | 10.05 | 9.54 | +0.51 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XSH.TO | XSHG.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.79 | 1.95 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.02 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.64 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 1.01 | -0.27 |
Drawdowns
XSH.TO vs. XSHG.TO - Drawdown Comparison
The maximum XSH.TO drawdown since its inception was -14.24%, which is greater than XSHG.TO's maximum drawdown of -7.40%. Use the drawdown chart below to compare losses from any high point for XSH.TO and XSHG.TO.
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Drawdown Indicators
| XSH.TO | XSHG.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.24% | -7.40% | -6.84% |
Max Drawdown (1Y)Largest decline over 1 year | -1.51% | -1.44% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -1.51% | -1.44% | -0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -7.80% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -14.24% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.03% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -0.93% | -1.84% | +0.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 0.37% | +0.01% |
Volatility
XSH.TO vs. XSHG.TO - Volatility Comparison
iShares Core Canadian Short Term Corporate Bond Index ETF (XSH.TO) has a higher volatility of 0.80% compared to iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF (XSHG.TO) at 0.68%. This indicates that XSH.TO's price experiences larger fluctuations and is considered to be riskier than XSHG.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 | XSHG.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.80% | 0.68% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 1.83% | 1.52% | +0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.16% | 1.82% | +0.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.83% | 2.79% | +0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 2.79% | +1.63% |
XSH.TO vs. XSHG.TO - Expense Ratio Comparison
XSH.TO has a 0.10% expense ratio, which is lower than XSHG.TO's 0.17% 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. XSHG.TO - Dividend Comparison
XSH.TO's dividend yield for the trailing twelve months is around 3.89%, more than XSHG.TO's 3.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XSHG.TO iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF | 3.72% | 3.64% | 3.39% | 2.87% | 2.69% | 0.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XSH.TO and XSHG.TO have a correlation of 0.68, 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 0.17% for XSHG.TO.
Both ETFs track Morningstar Can 1-5Y Core Bd GR CAD. Their fees differ too: 0.10% for XSH.TO and 0.17% for XSHG.TO.
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